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A Banquet of Consequences

A Banquet of Consequences

Have we consumed our own future?

by Satyajit Das
Paperback
Publication Date: 26/08/2015

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An internationally respected commentator on financial markets, credited with predicting the Global Financial crisis and featured in the 2010 Oscar-winning documentary Inside Job, Satyajit Das is our finest writer about money and the global economy. Informed, impassioned, lively and witty, A Banquet of Consequences is the only book you need to understand what the future will bring.

Essential reading for anyone interested in the future of the global economy and their own prospects, A Banquet of Consequences incisively explains the problems confronting us, how we're making those problems worse, and what the real solutions are.

For ordinary individuals, the goal of a steady job, a home of one's own, a comfortable retirement and a good life for our children is receding. In this brilliantly clear-eyed account, Satyajit Das links past, present and future to show that it's not just unrealistic expectations, but the poor performance of those governing us that are to blame.

The strategies and policies deployed to promote economic growth after the Great Recession have failed, not least because such growth cannot continue indefinitely. The solution - structural change - is electorally unpopular and therefore ignored. A Banquet of Consequences explains why the ultimate adjustment, whether stretched out over time or in the form of another sudden crash, will be life-changing.

An internationally respected commentator on financial markets, credited with predicting the Global Financial crisis and featured in the 2010 Oscar-winning documentary Inside Job, Satyajit Das is our finest writer about money and the global economy. Informed, impassioned, lively and witty, A Banquet of Consequences is the only book you need to understand what the future will bring.

Praise for Satyajit Das's previous books.

'Fascinating . . . explaining not only the high-minded theory behind the business and its various products but the sometimes sordid reality of the industry.' Gillian Tett, Financial Times

'A true insider's devastating analysis . . . Das takes a knife to global finance and financiers to reveal its inner workings without fear or favor.' Nouriel Roubini, Professor of Economics at NYU Stern School of Business

'A powerful book . . . highly readable and informative . . . Demands to be read.' Lindsay Tanner, The Monthly
ISBN:
9780670079056
9780670079056
Category:
Popular economics
Format:
Paperback
Publication Date:
26-08-2015
Publisher:
Penguin Random House Australia
Country of origin:
Australia
Pages:
384
Dimensions (mm):
233x155x26mm
Weight:
0.45kg
Satyajit Das

Satyajit Das is a globally respected former banker and consultant with over forty years’ experience in financial markets. In 2014, Bloomberg nominated him as one of the fifty most influential financial thinkers in the world.

Das presciently anticipated, as early as 2006, the Global Financial Crisis. Subsequently, he accurately described the evolution of the post-crisis world – sluggish growth, disinflation, the increasing ineffectiveness of policy measures and retrenchment from globalisation. He identified the increasing political and social dimensions of the crisis, especially the growing democracy deficit and the end of trust. In 2016, in the context of the SARS and Ebola epidemics, he drew attention to the risk of disease and the lack of preparedness to deal with a global health crisis.

In his writings and public talks, he highlighted the linkages between the economic challenges and environmental, resource, and socio-political constraints, such as inequality and inter-generational tensions. The extend-and-pretend model, he argued, had reached the end of its utility, and rising complacency combined with the reluctance to make difficult choices made a serious future crisis inevitable.

Das is the author of two international bestsellers, Traders, Guns & Money: Knowns and Unknowns in the Dazzling World of Derivatives (2006) and Extreme Money: The Masters of the Universe and the Cult of Risk (2011). He was featured in Charles Ferguson’s 2010 Oscar-winning documentary Inside Job, the 2012 PBS Frontline series Money, Power & Wall Street, the 2009 BBC TV documentary Tricks with Risk, and the 2015 German film Who’s Saving Whom?

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