The End of Growth Hardcover – May 8 2012
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#1 NATIONAL BESTSELLER
“I greatly enjoyed The End of Growth. It conveys a multidimensional description of the current situation from the point of view of various global players.... The economic concepts, no matter how complex, are expressed through connections and analogies, bound to entice the readers with and without economics background alike.”
—Canadian Insider Business
“Rubin’s book is well worth reading, particularly for those interested in political debates over the Enbridge, Kinder Morgan, and Keystone pipelines.”
—The Georgia Straight
—The Chronicle Herald
“Conversational.... [Rubin] raises an intriguing idea: Rising oil prices could save the planet by driving down our consumption and emissions.... Accessible.”
About the Author
JEFF RUBIN is the author of Why Your World Is About to Get a Whole Lot Smaller, a number one national bestseller and the Canadian Business Book of the Year. Rubin was the Chief Economist and Chief Strategist at CIBC World Markets, where he worked for over twenty years. He was one of the first economists to accurately predict soaring oil prices back in 2000 and is one of the world's most sought-after energy experts. He blogs weekly for The Globe and Mail and lives in Toronto.
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Top Customer Reviews
Rubin begins with the basics, including a brief overview of fiscal and monetary policy, monetarists and Keynesians, and economic growth. That out of the way, he then tells us that today's economic (i.e. deficit financing and easy money) policies are counterproductive because they will lead to soaring debts and rising inflation. With apologies to Rogoff and Reinhart, this time it really is different: the end of cheap oil is behind us; economic growth will stop; and in a static economy, only one half of the debt-to-GDP ratio will be going up -- the wrong half. When growth comes to a standstill, persuading creditors to keep financing government deficits will become a hard sell. Government policies and current lifestyles predicated on economic growth fueled by cheap oil are misdirected and outdated, respectively, and will be forced to change.
Digressing from his central premise a bit, Rubin notes that in countries where another round of bailouts would mean taxpayers become de facto owners of banks, outright nationalization could be the end result. In separate asides, but surprising for a former banker, Rubin agrees that putting investment bankers on civil service salaries might actually bring about the types of reforms needed in the financial services industry, and that if financial institutions are now too big to fail, the solution seems simple: make them smaller.Read more ›
One can't help but feel pity for Mr. Rubin getting it wrong. There is no end to growth – just a slowdown. You might say, who knew where things were headed when he wrote this book back in 2012. But it's only been 2 years, and world finances have rebounded immensely; and there's lot of cheap shale oil to go around.
Maybe Mr. Rubin should try offering paths to what might happen, instead of saying it will.
Overall, it's worth the reading and gives perspective to a complex matter.
Most recent customer reviews
This is a book by a well-informed economist, specialized in the energy sector and with a long experience in the banking sector. Read morePublished on Oct. 25 2013 by C. Vandendorpe
Nicely done. He handles a very controversial subject with ease. He obviously knows his stuff!
Looking forward to reading more from this author.
Simply put, The End of Growth will prove to be as influential as Keynes masterpiece, The General Theory on Employment, Interest and Money. Read morePublished on Jan. 21 2013 by Fedor's Friend
This book is extremely well written and very informative. I read it in a week, like I would a novel. Read morePublished on Sept. 15 2012 by Eric Despres
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