ABSTRACT
Losing Control: The Emerging Threats to Western Prosperity (King 2010), Endgame: The End of the Debt Supercycle and How It Changes Everything (Maudlin and Tepper 2012), The Reckoning: Debt, Democracy, and the Future of American Power (Moran 2012), Freefall: America, Free Markets, and the Sinking of the World Economy (Stiglitz 2010)—the titles of these books eloquently capture the mood and reality of our times. There is a massive transfer in economic power taking place from rich, but heavily indebted, Western economies to emerging and developing economies.
