In his weekly column, The Sunday Telegraph business editor Kamal Ahmed, looks at PA’s latest book ‘The zombie economy: leadership in times of uncertainty’. The book, by PA’s Mark Thomas, head of PA’s marketing and strategy practice, is an analysis of the post credit-crisis economy and contends that the economy is now made up of half-dead, half-alive zombie banks, companies, governments and consumers.
Writing on the zombie economy, Kamal refers to PA’s “fascinating” book: “For the rest of the UK economy it is not so clear, for zombification now stalks us far and wide. A fascinating new book published last week called The Zombie Economy by Mark Thomas of PA Consulting says that the problem goes far wider than the financial sector.
Kamal goes on to comment: “Yes, there will be zombie banks whose balance sheets are too weak to support sufficient lending, but there will also be zombie governments with deficits so large that expansionist policies are a thing of the past; zombie consumers whose appetite for consumption remains depressed; and zombie companies, fearful of the effect that a lending drought and consumers more interested in saving than spending is going to have on their bottom line.
In all, that's a lot of ‘not-quite-alive-not-quite-dead’ bits of the economy and a reason why any return to economic optimism should be tempered by realism.”