The Levelling: An economist’s prescient warning of the growing debt crisis

Book review: When Michael O’Sullivan strays into politics he is on very uncertain ground

Globalisation was always about much more than increased trade. Its origins lie in the liberalisation of finance and the weakening of nation states. Photograph: Wiktor Szymanowicz/Barcroft Media via Getty

Globalisation was always about much more than increased trade. Its origins lie in the liberalisation of finance and the weakening of nation states. Photograph: Wiktor Szymanowicz/Barcroft Media via Getty

Is the era of globalisation coming to an end? Are we moving to an increasingly multipolar world? Will existing global institutions be replaced by new regional networks? Will lower growth rates and rising debt lead to another recession in 2020? And if so, what is the most appropriate political response to these mounting challenges?

These are the questions that former Princeton University economist and now chief investment officer at Credit Suisse Michael O’Sullivan grapples with in The Levelling.

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