The Age of Oversupply

The Age of Oversupply

Overcoming the Greatest Challenge to the Global Economy

Book - 2013
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"Daniel Alpert, a progressive Wall Street banker and economist, argues that we are living in the age of oversupply. A global labor glut, a flood of excess productive capacity, and the persistent availability of cheap money have kept the developed world in a perpetual slump--which is unlikely to right itself without new policy solutions. For decades, economists and political leaders failed to see the signs of what became a cataclysmic shift in the global economy. Distracted by a technology boom and massive debt bubble, advanced nations failed to assess the full impact of the flood of labor and capital unleashed by the end of socialist economies until the most recent financial crisis exposed it. As the BRICs (Brazil, Russia, India, and China) and others continue to poach jobs from Western Europe, Japan, and the United States, prosperity in the developed world remains under threat"-- Provided by publisher.
Publisher: New York : Portfolio/Penguin, [2013]
ISBN: 9781591845966
1591845963
Call Number: 338.01 AL743a
Characteristics: 280 pages : illustrations ; 24 cm

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j
jimg2000
Sep 23, 2014

Author makes a strong argument that labor costs and hence wages of middle class in developed nations will stay at or below inflation, thanks to globalization and demographic shifts, as jobs continue to flow to developing countries with hundreds of millions of excess human resource.

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jimg2000
Sep 23, 2014

pages 147 & 148, author was in a technology powwow during Dec 2012.

Andreessen of Netscape expressed that: The American middle class was an anomaly resulting from the WWII decimation of Europe and Japan, leaving the USA the only producing nation for the world and allowing US labor an enormous advantage which continued over some three decades until the emergence of the Japanese forced out inefficient industries that over regarded "High School Graduate" labor.

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