“The Great Demographic Reversal”: a book review

Charles Goodhart and Manoj Pradhan recently published a book called “The Great Demographic Reversal: Aging societies, waning inequality and an inflation revival”. William White’s review of this book was published in “The Market” on 1 December 2020. White strongly recommends reading this book, both for the clarity and force of the arguments it contains but also its bravery. Contrary to informed opinion that deflation looms, the book suggests that demographic changes at the global level might be leading to both slower real growth and more inflation. Goodhart and Pradhan then spell out some of the unpleasant side effects of such developments. White generally concurs, but presents some arguments for expecting even more inflation thanGodhart and Pradhan seem to suggest.


Posted by williamw

Economic Dominoes Are Starting to Drop

In a Forbes magazine article published on 1 May, John Mauldin referred to William White as “the former chief economist at the Bank for International Settlements and my favorite central banker”. In the article, Maudlin refers to the massive and dangerous growth in global debt since 2009 (pre pandemic) and the enabling role played by monetary easing.


Posted by williamw