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In an urgent follow-up to his best-selling Why Your World Is About To Get A Whole Lot Smaller, Jeff Rubin argues that the end of cheap oil means the end of growth. What it will be like to live in a world where growth is over?
Economist and resource analyst Jeff Rubin is certain that the world's governments are getting it wrong. Instead of moving us toward economic recovery, the measures being taken around the globe right now are digging us into a deeper hole. Both politicians and economists are missing the fact that the real engine of economic growth has always been cheap, abundant fuel and resources. But that era is over. The end of cheap oil, Rubin argues, signals the end of growth – and the end of easy answers to renewing prosperity.
With China and India sucking up the lion's share of the world's ever more limited resources, the rest of us will have to make do with less. But is this all bad? In The Big Flatline Rubin points out that there is no research to show that people living in countries with hard-charging economies are happier, and plenty of research to show that some of the most contented people on the planet live in places with no growth or slow growth. But bad or good, it's the new reality, and Rubin reveals how our day-to-day lives will be drastically changed.
Jeff Rubin is the author of the best selling Why Your World Is About to Get a Whole Lot Smaller, which sold over 50,000 copies and was named one of the best books of the year by the Financial Times. Rubin was the Chief Economist and Chief Strategist at CIBC World Markets, where he worked for over twenty years. He was one of the first economists to accurately predict soaring oil prices back in 2000, and is now one of the world's most sought-after energy experts. He blogs weekly for The Globe and Mail and lives in Toronto Canada.
"The warning that constraints on energy use will set limits to growth is worth taking seriously."
- Financial Times