The bestselling author of Crisis Economics argues that we are heading toward the worst economic catastrophe of our lifetimes, unless we can defend against ten terrifying threats.
Renowned economist Nouriel Roubini was nicknamed "Dr. Doom," until his prediction of the 2008 housing crisis and Great Recession came true - when it was too late. Now he is back with a much scarier prediction, one that we ignore at our peril. There are no fewer than ten overlapping, interconnected threats that are so serious, he calls them Megathreats. From the worst debt crisis the world has ever seen, to governments pumping out too much money, to borders that are blocked to workers and to many shipments of goods, to the rise of a new superpower competition between China and the U.S., to climate change that strikes directly at our most populated cities, we are facing not one, not two, but ten causes of disaster. There is a slight chance we can avoid them, if we come to our senses - but we must act now.
In the 1970s, the U.S. faced stagflation: high rates of inflation combined with stagnant employment and growth. Today, we are heading toward a Great Stagflation that will make the 1970s look like a walk in the park.
Review
Roubini has surpassed even his high standards: the ten Megathreats he details are as scary as they are plausible. Forewarned is forearmed. Read and pay attention -- Martin Wolf
Roubini cuts to the real problems like a hot knife through butter with a clarity of mind that is rare among economists. I have never seen a more lucid and nuanced account of our financial condition. Not only will the reader be better off after reading this book, but the world will be a better place -- Nassim Nicholas Taleb, author of THE BLACK SWAN
A tour de force . . . This clever and timely analysis powerfully illustrates how the combination of flawed human judgment, faulty policies, and a collective disregard of natural constraints now confronts us with perils whose reach goes well beyond just our generation. Ignore this book at your own peril -- Mohamed El-Erian
The choice is clear: either we overcome deep-rooted political and geopolitical barriers to mount an adequate collective response (my preference!), or we sleepwalk into a new era of chaos and upheaval. A timely and compelling read, MegaThreats is a wake-up call for humanity -- Ian Bremmer, President of Eurasia Group and author of THE POWER OF CRISIS
Calm, clear-headed and possibly prescient . . . a bracing assessment of long-term risks to the global economy. Dark, perhaps, but brilliant, for sure -- Kenneth Rogoff, co-author of THIS TIME IS DIFFERENT
If recent history has taught us one thing, it is that Black Swan events happen - and more frequently than we expect. Nouriel Roubini describes the most threatening swans and how we can avoid being pecked to death . . . This is not an optimistic forecast, but it is a sobering and necessary one -- Barry Eichengreen, George C. Pardee & Helen N. Pardee Chair and Distinguished Professor of Economics and Political Science, University of California, Berkeley
Book Description
From the economist who predicted the 2008 crash, Megathreats outlines the new risks in our uncharted future and how we deal with them.
About the Author
Nouriel Roubini is one of the leading economists of our times. He is an expert of the international macroeconomy and of economic and financial crises. He is best known for being one of the very few economists who predicted the Global Financial Crisis of 2007-2009. His previous book Crisis Economics is an account of that crisis and previous financial crises. He is Professor Emeritus at New York University and holds a PhD in Economics from Harvard University. He runs a number of economics consultancies, advises governments and financial institutions and his views are regularly presented in all top global media.
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