The New World Fiscal Order - Tapa blanda

This work offers warnings about the problems that all countries will face as their populations age and increasing globalisation reduces the power of individual countries to insulate their economies and their policies from the effects of their countries' actions.

Despite widespread deficit reduction legislation in recent years, the nations of the industrialized world have not gained control over their long-term fiscal policy. The authors examine the triple threat of factors that have brought this problem to a head. They look at demographic issues: the aging of populations and decline in birthrates that burden social security programs. They analyze the yoke of prior commitments -- or current spending based on past decisions. And they address the unsustainable growth of government debt, which eats up a substantial portion of worldwide net saving and poses severe problems. Finally, the authors address the steps needed for nations to effectively plan for its future in an increasingly interdependent world.