How Low Interest Rates Change the World explores the societal impact of changing interest rates. Taking its starting point in the remarkable four-decade decline in global interest rates from 1980 to 2020, the book examines five global trends it caused, the underlying factors that drove interest rates lower, and emerging trends likely to shape the future path of interest rates.The book contends that the steady decline in interest rates around the world from 1980 to 2020 played a pivotal role in shaping five significant global trends during the same period: soaring debt levels, escalating housing prices, surging stock markets, widening economic inequality, and increased financial risk-taking.The book also explores emerging factors likely to shape the future trajectory of interest rates. While demographic trends may keep rates low, other forces, such as rising public debt, can push them higher. The book offers its perspective on the interaction of these opposing trends, and presents its view on the future evolution of interest rates. How Low Interest Rates Change the World is a no-nonsense fact-based book written in plain language. A key feature of the book is its empirical approach and reliance on data. Figures and tables richly illustrate and support the arguments presented, thereby inviting a broad audience to follow its fascinating journey into the evolution of interest rates and their impact.