The continued economic decline of the West

The economic downturn in ‘Western’ (aka OECD) economies continues to draw controversy and dissent as to causes, solutions and likely outcome. Debate centres around the desirability of stimulus packages such as quantitative easing, and the impact of ‘austerity’ programmes (defined in many cases as lowering, but not reversing, growth in government spending).

Jon Moynihan, Executive Chairman of PA Consulting Group, discusses how a wider view of these economic trends points to a longer-term and more inexorable decline in these economies. He discusses how most policy prescriptions that are currently in discussion or implementation will range in impact from ineffective to counterproductive, and offers some alternative policy suggestions that, while they are unlikely to be able to have impact for many years, will have more likelihood of helping these economies avert outright catastrophe.

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Jon Moynihan's speeches about the decline of the West:

• London School of Economics (LSE) – February 2012 (presentation and videos available)

• Massachusetts Institute of Technology (MIT) Club of Germany - October 2009 (videos available)

• PA Consulting Group's offices - February 2009 (videos available)