This original and panoramic book proposes that the underlying forces of demography and globalisation will shortly reverse three multi-decade global trends - it will raise inflation and interest rates, but lead to a pullback in inequality. -Whatever the future holds-, the authors argue, -it will be nothing like the past-. Deflationary headwinds over the last three decades have been primarily due to an enormous surge in the world-s available labour supply, owing to very favourable demographic trends and the entry of China and Eastern Europe into the world-s trading system. This book demonstrates how these demographic trends are on the point of reversing sharply, coinciding with a retreat from globalisation. The result? Ageing can be expected to raise inflation and interest rates, bringing a slew of problems for an over-indebted world economy, but is also anticipated to increase the share of labour, so that inequality falls. Covering many social and political
