Charles Goodhart on the Great Demographic Reversal

Are we heading into a future with higher inflation, higher interest rates and less inequality?
That is what Charles Goodhart and Manoj Pradhan propose in their book 'The Great Demographic Reversal: Ageing Societies, Waning Inequality, and an Inflation Revival'. Goodhart and Pradhan propose that the underlying forces of demography and globalisation will shortly reverse multi-decade global trends of lower inflation, lower interest rates, and more 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.
About the Speaker:
Charles Goodhart is Emeritus Professor of Banking and Finance at the London School of Economics. Charles previously was a monetary economist at the Bank of England, becoming a Chief Adviser in 1980.
This talk was hosted by the Financial Stability Working Group of the Young Scholars Initiative.
Thought this was interesting?
Become a member of YSI via ysi.ineteconomics.org/​
Twitter: / ysi_commons​​​
Instagram: / ysicommunit...​
Facebook: / youngscholar...​
Blog: www.economicquestions.org/​​​
YSI is an initiative of the Institute for New Economic Thinking

[@joesmith9139]

I loved the book and I love this video. A special thank you goes to the lady who asked about inflation and climate change. In fact, I would love to hear more about that topic in the future. 🙏

[@1powerequalsgod]

Videos like this should be watched right because this will effect real estate and investments.

[@christopheranderson1985]

Great video and great book.

[@IK-wc4od]

Have more kids. Much, much more. The present culture and economy cannot sustain itself my birth rates alone.

[@pratiktembhekar1996]

please make a short summary video ...for younger people