​Includes bibliographical references and index.

"The Western world has experienced extraordinary economic progress throughout the last six decades, a prosperous period so extended that continuous economic growth has come to seem normal. But such an era of continuously rising living standards is an historical anomaly, economist Stephen D. King warns, and the current stagnation of Western economies threatens to reach crisis proportions in the not-so-distant future. This is a plain-spoken assessment of where the West stands today. It is not just the end of an age of affluence, he shows. We have made promises to ourselves that are only achievable through ongoing economic expansion. The future benefits we expect - pensions, healthcare, and social security may be larger than tomorrow's resources. And if we reach that point, which promises will be broken and who will lose out? The lessons of history offer compelling evidence that political and social upheaval are often born of economic stagnation. King addresses these lessons with a multifaceted plan that involves painful - but necessary - steps toward a stable and just economic future." (from publishers page)