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Few observers of the late twentieth century
have their fingers so presciently on the pulse of the global
political and economic realignment ushering in the new millennium
as do James Dale Davidson and Lord William Rees-Mogg.
Their bold predictions of disaster on Wall
Street in Blood in the Streets was borne out by Black
Tuesday. They forecast the death of communism, the "inevitable
crack-up" of the Soviet Union, and the large-scale
bankruptcy of S&Ls.
In their ensuing bestseller, The Great
Reckoning, published just weeks before the coup attempt
against Gorbachev, they analyzed the pending collapse of
the Soviet Union. They offered a start description of the
world after the demise of the U.S.S.R., replete with predictions
of hyperinflation and disorder in a reconstituted Russia.
The Great Reckoning foretold the secession and civil
war in Yugoslavia and other events that have proved to be
among the most searing developments of the past half decade.
In The Sovereign Individual, Davidson
and Rees-Mogg promise to take up where "history"
left off, to explore the greatest economic and political
transition in centuries -- the shift from an industrial
to an information-based society. The unexpected events foretold
in The Great Reckoning, important geopolitical and
economic discontinuities that others missed, have culminated
in a nearly universal depression, the scope of which is
not yet appreciable to the general population. At the same
time, technical and economic innovations will no longer
be the exclusive property of a small fraction of the globe.
This break with the past, and the emergence in its wake
of what Davidson and Rees-Mogg have termed "the fourth
stage of human society," will render impossible the
preservation of many contemporary institutions that undergird
modern Western civilization.
The Information Revolution will liberate
individuals as never before, but the attendant and unaccustomed
responsibility will sharply curtail the "unearned advantage"
in living standards that the average twentieth-century citizen
of an advanced industrial society has enjoyed. As human
transactions occur increasingly in the parallel universe
of the cybereconomy, and outside of the confines of government
regulation, the individual's relationship to the state will
be altered irrevocably. The implications of such a reconfiguration
will become evident within one lifetime and will reverberate
around the globe.
Davidson and Rees-Mogg bring to light both
currents of disaster and the potential for prosperity and
renewal in the face of radical changes in human history.
This outstanding book will replace false hopes and fictions
with new understanding and clarified values.
James Dale Davidson and Lord William
Rees-Mogg edit and publish Strategic Investment,
one of the world's most popular private investment letters.
Davidson is founder and chairman of the
National Taxpayers Union. He has written for the Wall
Street Journal and numerous other
national publications and is a director of Banco Comafi
in Buenos Aires, Advanced Technology Holdings, Sedna, Geotech,
Anatolia Minerals, Oro Argentina, Ouro Brasil, Mariah Entertainment,
and Wharekauhau Holdings Ltd. He is the author of The
Squeeze and is co-author with Lord
Rees-Mogg of Blood in the Streets:
Investment Profits in a World Gone Mad
and The Great Reckoning.
Rees-Mogg is a financial advisor to some
of the world's wealthiest investors. He is a director of
J. Rothschild Investments, General Electric, PLC, and the
M&G Group, the largest unit trust operation in the U.K.
He was formerly the editor of the Times
of London and vice chairman of the British Broadcasting
Corporation. In addition to co-authoring Blood
in the Streets and The
Great Reckoning, he is the author
of The Reigning Error: The Crisis
of World Inflation.
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