Further, he explains how central bankers must broaden the economic theories that guide their decisions to include the major factors of debt and asset prices
He argues that the current low interest rates and budget deficits have prevented the recession becoming a depression but that those policies cannot be continuously repeated and a new consensus for action must be found
He offers practical guidance on reducing government, household, and business debt changing the economic incentives for the management class that currently inhibit long-term growth and rebalancing national economies both internally and externally
Offers practical, real-world economic policies for restructuring and rebalancing the global economic system Presents a modern economic theory for preventing the next collapse Ideal for economists, investors, fund managers, and central bankers Written by an economist described by the legendary Barton Biggs as one of the five best, most dispassionate, erudite analysts in the world As the global economy continues the long climb out of recession, it's imperative that central bankers and other economic decision-makers not repeat the mistakes of the past
The Road to Recovery offers prescriptive guidance on redesigning an economic system that is healthy, stable, and beneficial to all.