num_pages: 320
description: NEW YORK TIMES BESTSELLER  A roadmap to what lies ahead and the decisions we must make now to stave off the next global economic and financial crisis from one of the worlds most influential economic thinkers and the author of When Markets CollideThe one economic book you must read now . . . If you want to understand [our] bifurcated world and where its headed there is no better interpreter than Mohamed El-Erian. Time Our current economic path is coming to an end. The signposts are all around sluggish growth rising inequality stubbornly high pockets of unemployment and jittery financial markets to name a few. Soon we will reach a fork in the One path leads to renewed growth prosperity and financial stability the other to recession and market disorder.In The Only Game in Town El-Erian casts his gaze toward the future of the global economy and markets outlining the choices we face both individually and collectively in an era of economic uncertainty and financial insecurity. Beginning with their response to the 2008 global crisis El-Erian explains how and why our central banks became the critical policy actorsand most important why they cannot continue is this role alone. They saved the financial system from collapse in 2008 and a multiyear economic depression but lack the tools to enable a return to high inclusive growth and durable financial stability. The time has come for a policy handoff from a prolonged period of monetary policy experimentation to a strategy that better targets what ails economies and distorts the financial sectorbefore we stumble into another crisis.The future critically is not predestined. It is up to us to decide where we will go from here as households investors companies and governments. Using a mix of insights from economics finance and behavioral science this book gives us the tools we need to properly understand this turning point prepare for it and come out of it stronger. A comprehensive controversial look at the realities of our global economy and markets The Only Game in Town is required reading for investors policymakers and anyone interested in the future.
language: English
title: The Only Game in Town: Central Banks, Instability, and Avoiding the Next Collapse
publisher: Random House