The Age of Stagnation by Satyajit Das

The Age of Stagnation by Satyajit Das

The global economy is entering an era of protracted stagnation, similar to what Japan has experienced for over a decade.That is the message of this brilliant and controversial summary of our current economic predicament from an internationally respected consultant and commentator on financial markets, who predicted the Global Financial Crisis of 2008. The author challenges the assumption that growth can be perpetual and questions the ability of political leaders to enact the tough structural changes needed. He is particularly critical of the easy money approach to dealing with the great recession of 2008, citing the dangers of excessive debt and deep-seated fundamental imbalances. The fallout of these poor policies, he argues, will affect not only the business sector, but also the lifestyles and prosperity of average citizens and future generations. The author concludes with a thought experiment illustrating the large-scale changes that will be necessary to restore economic, financial, and social sustainability. This experiment has already been tried in Iceland, which went bankrupt in the wake of the 2008 crisis, and now, after a painful adjustment, is on the road to recovery. Written for the lay reader and peppered with witty anecdotes, this immensely readable book clearly explains the missteps that created the current dilemma, why a recovery has proved elusive, and the difficult remedies that must eventually be applied to ensure a stable future.

Normal 0 false false false MicrosoftInternetExplorer4 Satyajit Das is a well-known international expert in the fields of financial derivatives, risk management, and capital markets. In his 2006 book Traders, Guns, and Money: Knowns and Unknowns in the Dazzling World of Derivatives, Das foresaw several facets of the Global Financial Crisis. He stated in a speech that year called The Coming Credit Collapse that an informed review of the structured credit markets demonstrates that risk is not better shared, but more leveraged and (arguably) more concentrated among hedge funds and a small group of dealers. This does not improve the financial system's overall stability and security, but it does increase the chance of a 'crash' during a credit slump. On later events in the crisis, he has remained a renowned pundit.

Inside Job, Charles Ferguson's 2010 Oscar-winning documentary, and Tricks with Risk, a 2009 BBC TV documentary, both featured him. He has featured on ABC and SBS in Australia; BBC in the United Kingdom; Bloomberg in the United States; CNBC in the United Kingdom and Asia; SABC, Summit TV, and e-TV in South Africa; Canadian Broadcasting and Business New Network in Canada; and NZ Radio. In the United States, Canada, the United Kingdom/Europe, South Africa, Australia, New Zealand, and Asia, he is frequently interviewed and mentioned in the financial press. Das was the Treasurer of the TNT Group, an multinational transport and logistics firm, from 1988 to 1994, and was in charge of the Global Treasury function.

He worked in banking for the Commonwealth Bank of Australia, Citicorp Investment Bank, and Merrill Lynch between 1977 and 1987. Das has been advising financial institutions and corporations in Europe, North America, Asia, and Australia since 1994. He advises on derivative transactions/financial products trading, pricing/valuation, and risk management. He also conducts advanced seminars for derivatives and finance professionals all over the world on financial derivatives, risk management, and capital markets.

He worked as a consultant and Director of Rand Merchant Bank, a division of the First Rand Group of South Africa, from 2000 to 2007. He is the author of Traders, Guns, and Money: Knowns and Unknowns in the Dazzling World of Derivatives--Revised Edition (2006 and 2010), a satirical insider's account of derivatives trading and the financial goods industry. The Financial Times, London, called the book fascinating reading since it explains not only the high-minded theory underlying the firm and its different products, but also the occasionally nasty reality of the sector. The revised edition of the book was included in Bloomberg's list of 50 outstanding business books published since January 1, 2009.

Das is also the author of several significant reference works on derivatives and risk management, including Swaps/ Financial Derivatives Library--Third Edition (2005) (a four-volume, 4,200-page reference work for derivatives practitioners) and Credit Derivatives, CDOs, and Structured Credit Products--Third Edition (2005) (a three-volume, 4,200-page reference work for practitioners on derivatives). In professional publications and media, he has written extensively on financial concerns. His blogs can be found at www.nakedcapitalism.com, www.roubini.com, www.minyanville.com, www.eurointelligence.com, and www.prudentbear.com, among other financial websites. Das is also the co-author of In Search of the Pangolin: The Accidental Eco-Tourist (2006, New Holland), a travel narrative on eco-tourism, with Jade Novakovic.

SKU	Unavailable
ISBN 13	9781633881587
ISBN 10	163388158X
Title	The Age of Stagnation
Author	Satyajit Das
Condition	Unavailable
Binding Type	Hardback
Publisher	Prometheus Books
Year published	2016-02-09
Number of pages	347
Cover note	Book picture is for illustrative purposes only, actual binding, cover or edition may vary.