The Next Age of Uncertainty: How the World Can Adapt to a Riskier Future

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＂The Next Age of Uncertainty combines invaluable historical insights with provocative reflections on the economy of the future--a must read.＂ --Thomas d’Aquino C.M., LL.D., founding CEO of the Business Council of Canada, and author of Private Power Public Purpose

From the former Governor of the Bank of Canada, a far-seeing guide to the powerful economic forces that will shape the decades ahead.

The economic ground is shifting beneath our feet. The world is becoming more volatile, and people are understandably worried about their financial futures. In this urgent and accessible guide to the crises and opportunities that lie ahead, economist and former Governor of the Bank of Canada Stephen Poloz maps out the powerful tectonic forces that are shaping our future and the ideas that will allow us to master them.

These forces include an aging workforce, mounting debt, and rising income inequality. Technological advances, too, are adding to the pressure, putting people out of work, and climate change is forcing a transition to a lower-carbon economy. It is no surprise that people are feeling uncertain. The implications of these tectonic tensions will cascade throughout every dimension of our lives--the job market, the housing market, the investment climate, as well as government and central bank policy, and the role of the corporation within society. The pandemic has added momentum to many of them.

Poloz skillfully argues that past crises, from the Victorian Depression in the late 1800s to the more recent downturn in 2008, give a hint of what is in store for us in the decades ahead. Unlike the purely destructive power of earthquakes, the upheaval that is sure to come in the decades ahead will offer unexpected opportunities for renewal and growth.

Filled with takeaways for employers, investors, and policymakers, as well as families discussing jobs and mortgage renewals around the kitchen table, The Next Age of Uncertainty is an indispensable guide for those navigating the fault lines of the risky world ahead.

STEPHEN POLOZ is one of the world’s foremost economists with over 40 years of experience in economic and investment research, forecasting, banking, and policymaking, including seven years as Governor of the Bank of Canada. Today, he is a Special Advisor for Osler, Hoskin & Harcourt LLP, a corporate director, and Chair of the Advisory Board of the Lawrence National Centre, Ivey School of Business, Western University. Previously, he was with Export Development Canada for 14 years, first as Chief Economist, then Senior Vice-President of Lending, and finally as President and CEO. Stephen is a sought-after speaker for business and investor audiences and is quoted frequently in the news media.