The Financial Diaries/Happiness for All?
Two new studies improve our understanding of living conditions for America’s working classes
Reviewer: Sunil Krishnan, Santander Asset Management
Two introductions to a policy idea whose time may have come
Reviewer: Simon Briscoe
The Money Formula/Adaptive Markets
Two surveys of financial market theory and how it needs to progress
Reviewer: Bridget Rosewell, Volterra Partners LLP
Too much stuff: Capitalism in crisis
Reviewer: Rebecca Harding, Delta Economics
Where has capitalism gone wrong? Why are advanced capitalist economies so sick and why do conventional policy solutions, such as reduced taxes and increased money supply, produce only wider income disparity and inequality? We now live in a new world in which we enjoy the highest living standard in history, acquiring ever more goods and services as necessary luxuries. Yet current policies only serve to expand public debt and exacerbate socio-economic inequality. In Too much stuff, Yamamura upends conventional capitalist wisdom to provide a new approach.
Stuff and money in the time of the French Revolution
Reviewer: William A Allen
Rebecca L Spang, who revolutionized our understanding of the restaurant, has written a new history of money. It is also a new history of the French Revolution, with economics at its heart. In her telling, radicalization was driven by an ever-widening gap between political ideals—including “freedom of money”—and the harsh realities of daily life.
Grave New World
Reviewer: Andrew Sentance, Senior Economic Adviser, PwC
Globalization, long considered the best route to economic prosperity, is not inevitable. An approach built on the principles of free trade and, since the 1980s, open capital markets, is beginning to fracture. With disappointing growth rates across the Western world, nations are no longer willing to sacrifice national interests for global growth; nor are their leaders able—or willing—to sell the idea of pursuing a global agenda of prosperity to their citizens. Combining historical analysis with current affairs, economist Stephen D. King provides a provocative and engaging account of why globalization is being rejected, what a world ruled by rival states with conflicting aims might look like, and how the pursuit of nationalist agendas could result in a race to the bottom. King argues that a rejection of globalization and a return to “autarky” will risk economic and political conflict, and he uses lessons from history to gauge how best to avoid the worst possible outcomes.
The Limits of The Market
Reviewer: Rosemary Connell
The old discussion of 'Market or State' is obsolete. There will always have to be a mix of market and state. The only relevant question is what that mix should look like. How far do we have to let the market go its own way in order to create as much welfare as possible for everyone? What is the responsibility of the government in creating welfare? These are difficult questions. But they are also interesting questions and Paul De Grauwe analyses them in this book.
Globalisation: A MOOC from FutureLearn
Reviewer: Ian Bright
Understanding globalisation – a topic that dominates political and economic discourse worldwide – is important for anyone who cares about our planet’s future and wants to help shape it. This online course introduces economic globalisation, and its impact on society past and present.
Brexit: Why Britain voted to leave the European Union
Reviewer: Vicky Pryce, former joint Head, Government Economic Service
In June 2016, the United Kingdom shocked the world by voting to leave the European Union. As this book reveals, the historic vote for Brexit marked the culmination of trends in domestic politics and in the UK's relationship with the EU that have been building over many years. Drawing on a wealth of survey evidence collected over more than ten years, this book explains why most people decided to ignore much of the national and international community and vote for Brexit. Drawing on past research on voting in major referendums in Europe and elsewhere, a team of leading academic experts analyse changes in the UK's party system that were catalysts for the referendum vote, including the rise of the UK Independence Party (UKIP), the dynamics of public opinion during an unforgettable and divisive referendum campaign, the factors that influenced how people voted and the likely economic and political impact of this historic decision.
Dynamic Economic Decision Making
Reviewer: Dame Kate Barker
Financial decision-making requires one to anticipate how their decision will not only affect their business, but also the economic environment. Unfortunately, all too often, both private and public sector decision-makers view their decisions as one-off responses and fail to see their decisions within the context of an evolving decision-making framework.
In Decision-Making in a Dynamic Economic Setting, John Silvia, Chief Economist of Wells Fargo and one of the top 5 economic forecasters according to Bloomberg News and USA Today, skillfully puts this discipline in perspective.