From an internationally acclaimed economist, a provocative call to jump-start economic growth by aggressively overhauling liberal democracy
Around the world, people who are angry at stagnant wages and growing inequality have rebelled against established governments and turned to political extremes. Liberal democracy, history's greatest engine of growth, now struggles to overcome unprecedented economic headwindsfrom aging populations to scarce resources to unsustainable debt burdens. Hobbled by short-term thinking and ideological dogma, democracies risk falling prey to nationalism and protectionism that will deliver declining living standards.
In Edge of Chaos, Dambisa Moyo shows why economic growth is essential to global stability, and why liberal democracies are failing to produce it today. Rather than turning away from democracy, she argues, we must fundamentally reform it. Edge of Chaos presents a radical blueprint for change in order to galvanize growth and ensure the survival of democracy in the twenty-first century.
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About the Author
Dambisa Moyo is a prize-winning economist. The author of New York Times bestsellers Winner Take All and Dead Aid, she was named one of the "100 Most Influential People in the World" by Time Magazine. Moyo is a regular contributor to the Wall Street Journal and Financial Times. She lives in New York City.
Table of Contents
1 The Imperative Is Growth 1
2 A Brief History of Growth 21
3 Hurricane Headwinds 39
4 The False Promise of Protectionism 81
5 A Challenge to Democracy's Dominance 109
6 The Perils of Political Myopia 135
7 Blueprint for a New Democracy 167
8 Retooling for Twenty-First-Century Growth 209
Most Helpful Customer Reviews
Dr. Dambisa Moyo points out many critical issues, in her book, “Edge of Chaos.” Here I shine my spotlight on just a few of them: *“Political myopia is the central obstacle on the path of growth in advanced economies”. *Governments will always opt for short-term quick fixes that have the tendency to undermine long-term growth.” *“Advanced economies without a strong middle-class, will not have long-term sustained inclusive economic growth, and will, in fact, have rapid economic decline.” *“Who should govern a society? How should governors be selected? What powers should a government have and to what end should they be wielded? *“Who should vote? And under what criteria should voters be chosen?” Obviously, there are just too many thought-provoking issues to state here, you must read her book to understand the wisdom she shines upon the world. Nevertheless, the book details the devastating economic storms, bearing down on the world, because of the worlds global failure to achieve sustained, inclusive growth, with a strong middle-class structure, that constantly creates business opportunity and innovation, which would, in her opinion, defiantly prevent the rampant political turmoil that we see spreading across the globe. I must admit, I admire her step-by-step economic principles that will help guide the world to a brighter future. But, it will only work if the world makes the necessary changes she outlines in the book. And what are the odds of that happening? She does not have the political power to force the world to save its self. The UN does not have the power to force the world to save its self. And if the worlds most advanced economies do not heed her warning, the world may not survive this new “economic crash” this category-6 headwind” with sustained winds of 175+ mph winds with enough force to cause the complete political and economic destruction of many advanced economies and make the financial instability of the 2008 market crash seem like child’s play. – Sir William DeWhite Jackson, II