With the British Industrial Revolution, part of the world's population started to experience extraordinary economic growth—leading to enormous gaps in wealth and living standards between the industrialized West and the rest of the world. This pattern of divergence reversed after World War II, and now we are midway through a century of high and accelerating growth in the developing world and a new convergence with the advanced countries—a trend that is set to reshape the world.
Michael Spence, winner of the Nobel Prize in Economic Sciences, explains what happened to cause this dramatic shift in the prospects of the five billion people who live in developing countries. The growth rates are extraordinary, and continuing them presents unprecedented challenges in governance, international coordination, and ecological sustainability. The implications for those living in the advanced countries are great but little understood.
Spence clearly and boldly describes what's at stake for all of us as he looks ahead to how the global economy will develop over the next fifty years. The Next Convergence is certain to spark a heated debate how best to move forward in the post-crisis period and reset the balance between national and international economic interests, and short-term fixes and long-term sustainability.
In 2011, the International Monetary Fund invited prominent economists and economic policymakers to consider the brave new world of the post-crisis global economy. The result is a book that captures the state of macroeconomic thinking at a transformational moment.
The crisis and the weak recovery that has followed raise fundamental questions concerning macroeconomics and economic policy. These top economists discuss future directions for monetary policy, fiscal policy, financial regulation, capital-account management, growth strategies, the international monetary system, and the economic models that should underpin thinking about critical policy choices.
Olivier Blanchard, Ricardo Caballero, Charles Collyns, Arminio Fraga, Már Guðmundsson, Sri Mulyani Indrawati, Otmar Issing, Olivier Jeanne, Rakesh Mohan, Maurice Obstfeld, José Antonio Ocampo, Guillermo Ortiz, Y. V. Reddy, Dani Rodrik, David Romer, Paul Romer, Andrew Sheng, Hyun Song Shin, Parthasarathi Shome, Robert Solow, Michael Spence, Joseph Stiglitz, Adair Turner
Under Oak Island by K T Bryski
Agent Brandon Hill is called in to investigate strange happenings in Nova Scotia. The location is an isolated stretch of land called Oak Island, a truly peculiar place with mystery and peril surrounding it. At the Money Pit, a man-made excavation site at the island’s heart, Hill meets up with Agent Anouk Tremblay, le Ministère Officiel d’Occurrences Sans Explication, the Québec counterpart to the Ministry.
Struggling against the dark claustrophobia lingering around them in their descent of the Money Pit, Hill and Tremblay navigate hydrological systems and digging technology to discover what has taken refuge under Oak Island.
Wooden Go to Waste by Sandra Wickham
Agent Cora Thorton finds herself in the forests of Canada, land she knows well as it was where she grew up in before joining the Ministry. Paired up with a junior agent, Cora steps into a rivalry between two lumber barons and the mystery surrounding six men disappearing in the dense forests, never to be seen again. The deeper Cora digs into this mystery, the more blurred lines become between reality and the superstitions of the working class.
Tales from the Archives are short stories set in the world of the Ministry of Peculiar Occurrences. They explore events mentioned in the novels, characters seen and unseen and may include novel teasers of things to come.
Why the Sea is Boiling Hot by Michael Spence
Researcher Dodgson is happy in the bowels of the R&D department of the Ministry of Peculiar Occurrences, until a mysterious death and the question of space and time fling him out of it. He finds himself in the foreign environment of field work, with the whole fate of the Ministry, and the Empire itself in his nervous hands.
Those Dark Satanic Mills by Suna Dasi
Agent Imogen Feaveryear finds herself investigating a mysterious panic overcoming a mill in the countryside of Manchester, England. The unassuming mystery, dismissed by other agents of the Ministry, leads her to India, the approval of Doctor Sound on granting the young agent the latest in R&D technology. This case only twists and turns harder as Imogen confronts an enigmatic intruder, obviously aware of her clandestine work.
Traveling alone through the mystery and intrigue of India, Agent Imogen Feaveryear follows the clues from Manchester, England to unearth a grand conspiracy against the Empire. Feaveryear, armed only with facts and the basic of armaments from R&D technology, dares to discover the true cause behind the dark magic haunting England’s industrial progress.