Megathreats

A Financial Times Economics Book of the YearA Times Business Book of the YearA Sunday Independent (Ireland) Book of the Year'People who like horror films will love this book' Financial Times'Forewarned is forearmed. Read and pay attention' Martin Wolf'Not only will the reader be better off after reading this book, but the world will be a better place' Nassim Nicholas TalebWe are heading towards the worst economic catastrophe of our lifetimes - unless we can defend against ten terrifying threats.World renowned economist Nouriel Roubini was nicknamed Dr. Doom until his warnings of the 2008 housing crisis and Great Financial Crisis came true - when it was too late. Now he's back with much scarier predictions, ones that we ignore at our peril. There are no fewer than ten overlapping, interconnected threats that are so serious Roubini describes them as megathreats - with each one potentially amplifying the others. From the worst debt crisis the world has ever seen, to governments pumping out too much money and causing inflation, to borders that are blocked to workers and many shipments of goods, to the rise of a new superpower competition between China and the US, to pandemics and climate change that strike directly at our most populated cities, to the threat to jobs coming from AI, we are facing not one, not two, but ten causes of disaster.Today, we are heading towards a Great Stagflation that will make the 1970s look moderate. There is a slight chance we can avoid it, if we come to our senses - but we must act now.

Roubini has surpassed even his high standards: the ten Megathreats he details are as scary as they are plausible. Forewarned is forearmed. Read and pay attention, Roubini cuts to the real problems like a hot knife through butter with a clarity of mind that is rare among economists. I have never seen a more lucid and nuanced account of our financial condition. Not only will the reader be better off after reading this book, but the world will be a better place, A tour de force . . . This clever and timely analysis powerfully illustrates how the combination of flawed human judgment, faulty policies, and a collective disregard of natural constraints now confronts us with perils whose reach goes well beyond just our generation. Ignore this book at your own peril, The choice is clear: either we overcome deep-rooted political and geopolitical barriers to mount an adequate collective response (my preference!), or we sleepwalk into a new era of chaos and upheaval. A timely and compelling read, MegaThreats is a wake-up call for humanity, Calm, clear-headed and possibly prescient . . . a bracing assessment of long-term risks to the global economy. Dark, perhaps, but brilliant, for sure

Nouriel Roubini is a professor emeritus of economics at New York University's Stern School of Business and the founder and chairman of Roubini Macro Associates. He is also chief economist at Atlas Capital Team. He has served in the White House and the US Treasury. He is the author of the international bestseller Crisis Economics, and lives in New York City.

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