Economist Eswar Prasad believes the world’s economic order is stuck in a doom loop. While globalization has increased global prosperity, it’s also left many people behind. That has set off a global “politics of resentment,” enabling the rise of populist leaders who promise a return to economic independence and nationalism. So what do we do about it? Despite the title of Professor Prasad’s new book, The Doom Loop: Why the World Economic Order Is Spiraling into Disorder, he does have answers, and some optimism.
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