Video Q&A: Stephen D. King on When the Money Runs Out

On the sidelines of the launch of his book When the Money Runs Out: The End of Western Affluence, Stephen D. King spoke with AS/COA Senior Director of Public Policy Programs Ragnhild Melzi about a new economic reality, involving the end of a "golden age” for Western economies.

King warned of a soon-to-come intergenerational conflict between baby boomers and millennials, cautioning of the challenges of "how to make the numbers add up in the future." He noted the problem of economies focusing on pensions and health care for older generations in contrast with less attention for education and infrastructure—essential for prosperity of younger generations. "I think there is a need in one sense for a new social contract between generations to make sure that less plentiful, youthful generation is looked after to a certain degree,” said King. “Because if they are not, you end up with the risk for social upheaval." 

King shared his outlook for Latin America as well, focusing in particular on the region’s ties to other emerging economies. "For the future, what matters I think for Latin America is in particular trying to exploit opportunities that exist in what I call the southern silk road growth—a series of South-South trading opportunities between Latin America, Sub-Saharan Africa, the Middle East, and Asia," he said.