The Age Of Oversupply

The Age Of Oversupply

Overcoming The Greatest Challenge To The Global Economy

Book - 2013
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"Daniel Alpert, a progressive Wall Street banker and economist, argues that we are living in the age of oversupply. A global labor glut, a flood of excess productive capacity, and the persistent availability of cheap money have kept the developed world in a perpetual slump--which is unlikely to right itself without new policy solutions. For decades, economists and political leaders failed to see the signs of what became a cataclysmic shift in the global economy. Distracted by a technology boom and massive debt bubble, advanced nations failed to assess the full impact of the flood of labor and capital unleashed by the end of socialist economies until the most recent financial crisis exposed it. As the BRICs (Brazil, Russia, India, and China) and others continue to poach jobs from Western Europe, Japan, and the United States, prosperity in the developed world remains under threat"--
"Why Western capitalism is broken and how the U.S. can recover its global economic leadership status The governments and central banks of the developed world have tried every policy tool imaginable, yet our economies remain sluggish, or worse. How did we get here, and how can we emerge from the longest downturn in recent memory? Daniel Alpert, a progressive Wall Street banker and economist, argues that we are living in the age of oversupply. A global labor glut, a flood of excess productive capacity, and the persistent availability of cheap money have kept the developed world in a perpetual slump-which is unlikely to right itself without new policy solutions. For decades, economists and political leaders failed to see the signs of what became a cataclysmic shift in the global economy. Distracted by a technology boom and massive debt bubble, advanced nations failed to assess the full impact of the flood of labor and capital unleashed by the end of socialist economies until the most recent financial crisis exposed it. As the BRICs (Brazil, Russia, India, and China) and others continue to poach jobs from Western Europe, Japan, and the United States, prosperity in the developed world remains under threat. This is an alarming, insightful take on ourcurrent challenges, with bold policy prescriptions, from one of our sharpest economic minds"--
Publisher: New York, New York, USA :, Portfolio/Penguin,, [2013]
ISBN: 9781591845966
1591845963
Branch Call Number: 338.01
Characteristics: 280 pages ;,24 cm

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j
jimg2000
Sep 23, 2014

Author makes a strong argument that labor costs and hence wages of middle class in developed nations will stay at or below inflation, thanks to globalization and demographic shifts, as jobs continue to flow to developing countries with hundreds of millions of excess human resource.

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j
jimg2000
Sep 23, 2014

pages 147 & 148, author was in a technology powwow during Dec 2012.

Andreessen of Netscape expressed that: The American middle class was an anomaly resulting from the WWII decimation of Europe and Japan, leaving the USA the only producing nation for the world and allowing US labor an enormous advantage which continued over some three decades until the emergence of the Japanese forced out inefficient industries that over regarded "High School Graduate" labor.

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