The world is at a critical juncture, poised delicately between a surge in wealth and a descent into outright recession. In The Death of Inflation, Roger Bootle rocked the economic establishment with his predictions and was proven right. Now, he embraces controversy again with a fascinating and far-reaching book that analyzes the prospects of deflation and depression and the great illusion of the economic bubble, which represents the difference between real and illusory wealth, or "money for nothing." In Money for Nothing: Real Wealth, Financial Fantasies and the Economy of the Future, Bootle argues that if we can avoid the twin perils of protectionism and a deflationary slump, there is hope for a global leap in real wealth in the future through an acceleration of global trade. Bootle asserts that the old economic obsession with tangible things, such as land and machinery, has been replaced by a new economy of "non things," such as intellectual property and knowledge. The result may be a change in our circumstances, making our lives today every bit as unrecognizable to the next generation as the pre- and post-Industrial Revolution generations were to each other.
CONTENTS PART I: CLEAR AND PRESENT DANGERS Financial Fantasies The Reckoning The Deflation Danger PART II: THE WELLSPRINGS OF REAL WEALTH Mind over Matter The Wealth Spiral Good Governance PART III: The Economy of the Future The Finance of the Future Doing the Business Life in the Time of Plenty Money for Nothing? FINALE: SKIRTING CATASTROPHE
Roger Bootle is one of the City of London's best-known economists. Formerly Group Chief Economist at HSBC, he is now Managing Director of Capital Economics, an independent economic consultancy, and Economic Advisor to Deloitte & Touche. He is a regular columnist on the Sunday Telegraph and a well-known broadcaster on radio and television. His previous book, The Death of Inflation, was also published by Nicholas Brealey Publishing and became an international bestseller.
"Roger Bootle is one of the few City economists whose views I trust. He rarely runs with the pack, and more often than not his contrarian approach is proved correct. Better still he deals in plain English, not gobbledegook econo-speak. His new book on life's harsh realities will make you sit up and think." - Jeff Randall, BBC Business Editor "Money for Nothing is nothing short of a great economic vision and a magnificent blueprint for a global society." - Professor Dr. Norbert Walter, Chief Economist, Deutsche Bank