The Great Global Transformation

A Financial Times Book of the Year ‘Milanovic combines his deep knowledge of political economy and philosophy and his mastery of statistics to explain the rise of Asia and the corresponding decline of the West‘ James K. Galbraith A leading economist economist guides us through the ruins of the current world order: where do we go next? Global neoliberalism is on its last legs, while a new international economic order is taking hold. Trade blocs, tariff wars, economic sanctions, and national champions are in; nationalism, anti-immigration movements and the far-right are on the rise. Liberalism is being rejected by the civic realm, as the status quo of the past fifty years crumbles. What remains in its wake? Drawing on original research, leading economist Branko Milanovic reveals the seismic shifts that are shaping our world. He details the facts: how the rising economic power of Asia is creating a new global ‘middle class‘ in the greatest reshuffle of incomes since the Industrial Revolution. He explores our fears: why are we becoming increasingly unhappy, when the world is becoming richer and more equal? And he shows us the fight ahead: as plutocracy returns, global war threatens, and a new system silently shapes our nations, driving malcontent to breaking point. In The Great Global Transformation, Milanovic provides an invaluable guide to the new 21st century. ‘A must read for anyone concerned about the future of the world order‘ Gordon Brown ‘Everyone who wants to understand these titanic changes must read this book‘ Martin Jacques