The Next Age of Uncertainty

How The World Can Adapt to a Riskier Future

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    Allan Lane Canada
About The Next Age of Uncertainty:

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.

About the Author(s):

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.