"A global disparity in wages has led the West to the brink of disaster."
JON MOYNIHAN, executive chairman, pa consulting group
Business Insider has covered a presentation given by Jon Moynihan, Executive Chairman of PA Consulting Group. In the presentation, “The Continued Economic Decline of the West”, Jon discusses the causes of the long-term decline of the West, suggesting that a global disparity in wages has led the West to the brink of disaster.
Jon delivered his presentation at the London School of Economics and looked at the challenges, the potential actions and the likely outcomes for the West’s economy. He also outlined the actions that the West could take to avoid catastrophe. These include:
reorienting government expenditure to focus on education and infrastructure
curbing banks’ excessive remuneration
implementing a taxation system based on efficiency rather than what is popular with the electorate
developing new technologies
accepting immediate cuts in living standards.
To read Jon’s presentation in full, click here.
To watch the video on the MIT website, click here. It is the most viewed video on the website.