Author(s): Dr. Pippa Malmgren
Signals is the story of the world economy, told in the language of everyday objects, places and events - from magazine covers and grocery stores to military action. The rising price but shrinking size of a steak, a bar of chocolate or an apartment not only cause pain at home, they also propel some nations to deploy their militaries to secure resources and protect their citizens from higher prices. Malmgren argues that by being alert to the many signals around us, anyone can empower themselves to deal with the varied troubles and treasures the world economy inevitably brings. Philippa Malmgren reveals how our daily lives are informed and affected by the ongoing battle, created by central bankers, between inflation and deflation. As the cost of living for consumers continues to rise, while their income still falls, a pattern is created that breaks the vital social contracts between citizens and their governments. This sets in motion many seemingly unrelated outcomes: social unrest in emerging markets, the movement of manufacturing jobs back to the US and the West, and ultimately, higher food and energy prices. If growth and innovation presents the only solutions, the key question becomes whether governments are hostile or hospitable to these efforts. With its wonderful range of signals, from a Vogue magazine cover to a protest by a Tibetan monk, Signals demonstrates that although we can't predict the future of the world economy, we can prepare ourselves for it.
Dr Pippa Malmgren, former presidential advisor, explains the world economy in plain English in order to help people better navigate the sometimes tumultuous world economy. She served as the chief currency strategist at Bankers Trust and the Deputy Head of Global Strategy at UBS. She serves on boards at MIT, Indiana University and the Ditchley Foundation. She lives in London. Find her on Twitter @DrPippaM