Next Economy: The Coming ‘Age of Stagnation’
Author Satyajit Das kicks off Tyee series on global capitalism’s crisis.
Satyajit Das: Having worked in financial markets for three decades, Das sees a global economy ‘in peril.’
Satyajit Das believes the global go-go growth economy is quickly ending and a tough transition lies ahead. What to expect? The title of his new book succinctly predicts: The Age of Stagnation: Why Perpetual Growth is Unattainable and the Global Economy is in Peril.
An Australian born in Calcutta, Das draws on a range of experience — banker, corporate treasurer, industry consultant, academic, author — in making his prognostication. His views on what actually causes an economy to grow stand in contrast to how governments model and forecast economic trends.
Das argues factors that enabled decades of gradually increasing prosperity throughout the post-Second World War era will be overwhelmed by a range of financial, economic, demographic, resource, and environmental challenges in the next few decades.
The Tyee asked Das to break down those critical forces.
The Tyee: What is your future vision of the global economy over the next 20 years? What are the next few decades going to look like?
Satyajit Das: I think the last 50 to 60 years were quite odd in terms of the longer run economic history of the world. Now, we face a series of challenges. Some are financial and some are non-financial. But, they are all linked.
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