EngishAllan Lane Canada
KoreanKorea Price Information (KPI) Publishing Group
From the former Governor of the Bank of Canada, a far-seeing guide to the powerful economic forces that will shape the coming decades.
The economic ground is shifting beneath our feet. The world is becoming more volatile, and people are understandably wondering about their financial futures. In this urgent and accessible guide to the risks and opportunities that lie ahead, economist and former Governor of the Bank of Canada Stephen Poloz maps out the powerful tectonic forces that are shaping our world, and the ideas that will allow us to master them.
The workforce is aging. Technology is disrupting jobs. Income inequality is rising. And climate change is forcing a transition to a lower-carbon economy. It is no surprise that people are feeling uncertain.
These tectonic tensions will reinforce each other to create volatility that will cascade through every dimension of our lives—the job market, the housing market, the investment climate, as well as government and central bank policy—and alter the role of businesses within society. These forces have been in motion for decades, but the COVID-19 pandemic added momentum to many of them.
Poloz skillfully argues that past economic crises, from the Victorian Depression in the late 1800s to the Global Financial Crisis in 2008, were the product of these same forces, and offer insights into what is in store for us. While economic upheaval is inevitable, those who embrace uncertainty and actively manage the risks will find unexpected opportunities for renewal and growth.
Filled with takeaways for employers, investors, and policymakers, as well as families discussing jobs and mortgage renewals around the kitchen table, The Next Age of Uncertainty is an indispensable roadmap to a more positive future.
"Stephen Poloz is one of the most experienced economists, who has never lost touch with the world around him. In The Next Age of Uncertainty, he gives an ingenious yet humble account of the economic forces that will define our future and our everyday decisions. Having lived through the major economic crises of the past decades, Stephen brilliantly connects the past with the future and economic theory with real life and personal anecdotes. It is this all-embracing approach that makes this book a fascinating read, not just for policymakers, but for everybody who wants to understand what the future holds."
"There are powerful forces at work that will influence how we live and invest in the years to come. In The Next Age of Uncertainty, Stephen Poloz not only describes what those forces are, but draws a precise road-map for navigating them. The Next Age of Uncertainty isn’t just a book for economists, it’s a book for anyone who wants to make better decisions."
"Stephen Poloz is as classic a Canadian success story as you are likely to find. Rising from middle-class roots in Oshawa to become Governor of the Bank of Canada, he has amassed a wealth of experience on how to navigate challenging economic times. In his book The Next Age of Uncertainty, Poloz distills his four decades of economic and leadership experience to a series of essential insights about how the economy works and where it might go. Using his trademark blend of analysis, anecdote, and humor, this book will become required reading for anyone interested in the forces shaping our collective economic future."
"Stephen Poloz’s The Next Age of Uncertainty combines invaluable historical insights with provocative reflections on the economy of the future—a must read for policy makers wishing to avoid the mistakes of the past and facing the tectonic forces sweeping Canada and the world.”
STEPHEN POLOZ is one of the world’s foremost economists with over 40 years of experience in economic and investment research, forecasting, banking, and policymaking, including seven years as Governor of the Bank of Canada. Today, he is a Special Advisor for Osler, Hoskin & Harcourt LLP, a corporate director, and Chair of the Advisory Board of the Lawrence National Centre, Ivey School of Business, Western University. Previously, he was with Export Development Canada for 14 years, first as Chief Economist, then Senior Vice-President of Lending, and finally as President and CEO. Stephen is a sought-after speaker for business and investor audiences and is quoted frequently in the news media.