DEBT, MONEY, AND THE NEW WORLD ORDER

Philip Coggan, Buttonwood Columnist and Capital Markets Editor, The Economist

After decades of an overreliance on debt and the resulting crises, Western economies find themselves in the unusual position of having to look to China and the Middle East to sustain many of their funding needs. This is leading to a paradigm shift in the way that Western nations interact with their creditors. However, this is not the first time in history that unsustainable debt levels have led to systemic upheavals in governments, currencies, international relations, and social order. Please join The Chicago Council on Global Affairs with author and The Economist columnist Philip Coggan as he explores how the conceptions and uses of debt have evolved throughout history and now caused yet another period of turmoil, one which he argues is leading to the emergence of a New World Order.

Philip Coggan is the Buttonwood columnist of The Economist. Previously, he worked for the Financial Times for twenty years, where he served as investment editor, founded the “Short View” column, and wrote the “Long View” and “Last Word” columns. In 2009, he was voted Senior Financial Journalist of the Year in the Wincott Awards and Best Communicator in the Business Journalist of the Year awards. Among his books are The Money Machine: How the City Works and The Economist Guide to Hedge Funds: What They Are, What They Do, Their Risks, Their Advantages.
 
Coggan’s new book, Paper Promises: Debt, Money, and The New World Order, will be available for purchase and signing following the program.