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The New Golden Age: The Coming Revolution Against Political Corruption and Economic Chaos
In The New Golden Age, bestselling author and economist Ravi Batra identifies the roadblocks to economic prosperity--and what we need to do to overcome them. Bringing the same insight and expertise that made books like The Downfall of Capitalism and Communism international bestsellers, Batra takes on falling minimum wages, corporate scandals, rocketing oil prices, and many of the other crises facing the world economy. He also offers an expansive, optimistic vision of how the international community can address them and bring about something historically unprecedented: true global economic prosperity.
256 pages, Hardcover
First published January 1, 2007
About the author
Ravi Batra
61 books6 followersIndian-American economist, author, and professor at Southern Methodist University.
Batra is the author of six bestselling books of which "The Great Depression of 1990" reached #1 on the New York Bestsellers list in 1987.
In his works, Batra proposes an equitable distribution system known as Progressive Utilization Theory (PROUT) as a means to not only ensure material welfare but also to secure the ability of all to develop a full personality.
Batra is the author of six bestselling books of which "The Great Depression of 1990" reached #1 on the New York Bestsellers list in 1987.
In his works, Batra proposes an equitable distribution system known as Progressive Utilization Theory (PROUT) as a means to not only ensure material welfare but also to secure the ability of all to develop a full personality.
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Displaying 1 - 10 of 10 reviews
October 7, 2011
There are many similarities in the social cycle to those I saw in The Fourth Turning, by William Strauss. The accuracy of many of Batra's predictions is stunning. Written in 2007, he was spot on with the housing bubble. Just as the Fourth Turning predicts an event or series of events comparable to the American Revolution, the Civil War, or the Great Depression, The New Golden Age also suggests an epic revolution is due to come very soon, based on current events. I've also been saying for the last couple years that this decade of the '10s is going to be radical and transform the U.S. profoundly. Could "Occupy Wall Street" be the revolution Batra predicted?
Economic details from the book:
-Adding money to the economy creates inflation.
-Page 49: The U.S. backed Israel in the 1973 war vs Syria & Egypt. Since OPEC was dominated by Arab nations, an oil embargo was imposed against the West. Oil & gasoline prices skyrocketed, as production was trimmed. But the war by itself should have had no lasting impact on U.S. monetary growth and inflation; product prices would have surged for a couple of years due to costlier energy, but then returned to their normal level of stability. But the U.S. administration chose to fight the recessionary and inflationary consequences of the oil surge with monetary expansion. Money growth jumped and a temporary problem of inflation swelled into a decade-long spiral (hence the inflation problem of the 70's into 1982)...frequently governments print money when trouble flares on the economic front. And if an economic slump is triggered by inflationary pressure, monetary expansion begets escalation inflation without during the recession.
-I found it interesting how Batra differs from Thom Hartmann with regards to trade policy and import tariffs. I'd like to hear the two debate this issue.
Economic details from the book:
-Adding money to the economy creates inflation.
-Page 49: The U.S. backed Israel in the 1973 war vs Syria & Egypt. Since OPEC was dominated by Arab nations, an oil embargo was imposed against the West. Oil & gasoline prices skyrocketed, as production was trimmed. But the war by itself should have had no lasting impact on U.S. monetary growth and inflation; product prices would have surged for a couple of years due to costlier energy, but then returned to their normal level of stability. But the U.S. administration chose to fight the recessionary and inflationary consequences of the oil surge with monetary expansion. Money growth jumped and a temporary problem of inflation swelled into a decade-long spiral (hence the inflation problem of the 70's into 1982)...frequently governments print money when trouble flares on the economic front. And if an economic slump is triggered by inflationary pressure, monetary expansion begets escalation inflation without during the recession.
-I found it interesting how Batra differs from Thom Hartmann with regards to trade policy and import tariffs. I'd like to hear the two debate this issue.
June 4, 2008
Excellent book. Examines social & economic cycles and their impact on society (from an economic justice standpoint. He analyzes their historical applicability across cultures and societies.
In particular he explains how almost all of the economic injustices today are caused by the predictable and corrupt behavior of the "aquisitor class" who's extreme greed dominates society.
He explains how most leading economists are part of the problem and how oil and gas prices increases (even as of 2006) are caused by monopolistic behavior and speculators nad how the supply/demand explanation is unfounded.
I would only quibble with two things--
(1) there are a couple pages of really sappy stuff at the end of the book;
(2) he is prone to grandiose statements and generalizations (e.g., "Almost every great civilization has been associated with a monotheist religion..."
This book is definitely worth reading.
In particular he explains how almost all of the economic injustices today are caused by the predictable and corrupt behavior of the "aquisitor class" who's extreme greed dominates society.
He explains how most leading economists are part of the problem and how oil and gas prices increases (even as of 2006) are caused by monopolistic behavior and speculators nad how the supply/demand explanation is unfounded.
I would only quibble with two things--
(1) there are a couple pages of really sappy stuff at the end of the book;
(2) he is prone to grandiose statements and generalizations (e.g., "Almost every great civilization has been associated with a monotheist religion..."
This book is definitely worth reading.
January 7, 2024
Excellent book I've read a couple times before, covering social cycles throughout history. Talks about generational archetypes which drive different historical eras.
April 13, 2008
Batra is an economic theorist that believes there is a cyclical nature to Social, Political, and Economic challenges. He believes there is an age of Warriors, Intellectuals, Acquisitors and Laborers. The US is ending it's Age of Acquisition and he predicts a Social Revolution that will overthrow Corporate America and polical corruption. Batra predicted the fall of communism and the housing bubble we are experiencing, etc. It's very interesting with a good review of the Muslim world and fundamentalism.
December 29, 2008
After reading Greenspan's Fraud, this is a fitting conclusion. One of the most thought provoking books about the current state of our economy that I have read.
Batra makes some compelling points that seem to be dead on when it comes to where we are, and where we are going.
The best part is that he suggests that there is a light at the end of the tunnel of our current state of corruption and greed that we have spiraled into.
Highly recommended.
Batra makes some compelling points that seem to be dead on when it comes to where we are, and where we are going.
The best part is that he suggests that there is a light at the end of the tunnel of our current state of corruption and greed that we have spiraled into.
Highly recommended.
January 15, 2009
Overall a much better book than "The World is Flat".
I was really impressed by the honest suggestions of what we need to do about the crisis of environment.
Friedman points out that "Communism fell because of an ignorance of economy, and Capitalism will fall due to an ignorance of ecology."
Absolutely a must read!
I was really impressed by the honest suggestions of what we need to do about the crisis of environment.
Friedman points out that "Communism fell because of an ignorance of economy, and Capitalism will fall due to an ignorance of ecology."
Absolutely a must read!
November 16, 2010
I like to see a bold economist that is willing to throw out ideas and predictions. A lot of what he says is dead on, some of it is speculation but more along the realm of stringing together coincidence. Very insightful though. A good read.
May 7, 2010
good, audio version was so-so. good history on middle east, as well as social cycles. left leanings, republicans are screw ups, etc. i enjoyed it overall. will probably use in class.
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August 12, 2011A very good book. This book was written several years ago and it is uncanny how acurate his predictions have been.
June 14, 2009
Unique look at ruling parties through the ages. Far left views.
Displaying 1 - 10 of 10 reviews