The Remaking of the Mining Industry
Reviewer: Dr Diane Coyle OBE, Director, Enlightenment Economics
The industrialisation of China prompted the biggest commodity boom of modern times. Soaring prices gave rise to talk of a commodity super cycle and induced a wave of resource nationalism. The author, who was chief economist at two of the world's largest mining companies, describes how this resulted in a transformation of the global mining industry.
Phishing for Phools: the economics of manipulation and deception
Reviewer: Dame Kate Barker, Chairman, Society of Business Economists
Ever since Adam Smith, the central teaching of economics has been that free markets provide us with material well-being, as if by an invisible hand. In Phishing for Phools, Nobel Prize-winning economists George Akerlof and Robert Shiller deliver a fundamental challenge to this insight, arguing that markets harm as well as help us. As long as there is profit to be made, sellers will systematically exploit our psychological weaknesses and our ignorance through manipulation and deception. Rather than being essentially benign and always creating the greater good, markets are inherently filled with tricks and traps and will "phish" us as "phools."
The Courage to Act
Reviewer: Ian Harwood, Independent Consultant
In 2006, Ben S. Bernanke was appointed chair of the Federal Reserve, capping a meteoric trajectory from a rural South Carolina childhood to professorships at Stanford and Princeton, to public service in Washington's halls of power. There would be no time to celebrate, however-the burst of the housing bubble in 2007 set off a domino effect that would bring the global financial system to the brink of meltdown. In The Courage to Act, Ben Bernanke pulls back the curtain on the tireless and ultimately successful efforts to prevent a mass economic failure.
Between Debt and the Devil: Money, Credit and Fixing Global Finance
Reviewer: Ian Mulheirn, Director of Consulting, Oxford Economics
Adair Turner became chairman of Britain’s Financial Services Authority just as the global financial crisis struck in 2008, and he played a leading role in redesigning global financial regulation. In this eye-opening book, he sets the record straight about what really caused the crisis. It didn’t happen because banks are too big to fail—our addiction to private debt is to blame.
The Silo Effect
Reviewer: Bronwyn Curtis OBE
In The Silo Effect, Gillian Tett uses an anthropological lens to explore how individuals, teams and whole organisations often work in silos of thought, process and product. With examples drawn from a range of fascinating areas - the New York Fire Department and Facebook to the Bank of England and Sony - these narratives illustrate not just how foolishly people can behave when they are mastered by silos but also how the brightest institutions and individuals can master them.
The Evolution of Everything
Reviewer: Bridget Rosewell, Volterra Partners
The New York Times bestselling author of The Rational Optimist and Genome returns with a fascinating argument for evolution that definitively dispels a dangerous, widespread myth: that we can command and control our world. Human society evolves. Change in technology, language, morality, and society is incremental, inexorable, gradual, and spontaneous.
The Price of Oil
Reviewer: David Humphreys, Principal, Daiecon Advisors
Drawing on their extensive knowledge of the oil industry, Roberto F. Aguilera and Marian Radetzki provide an in-depth examination of the price of the world's most important commodity. They argue that although oil has experienced an extraordinary price increase over the past few decades, we have now reached a turning point where scarcity, uncertain supply and high prices will be replaced by abundance, undisturbed availability and suppressed price levels.
Reviewer: Duncan Brown, UK Commission for Employment & Skills
Today's global economy, with most developed nations experiencing very low inflation, seems a world apart from the "Great Inflation" that spanned the late 1960s to early 1980s. Yet, in this book, Brigitte Granville makes the case that monetary economists and policymakers need to keep the lessons learned during that period very much in mind, lest we return to them by making the same mistakes we made in the past.
Government Paternalism: Nanny State or Helpful Friend?
Reviewer: Neil Reeder, Head and Heart Economics
Should governments save people from themselves? Do governments have the right to influence citizens' behavior related to smoking tobacco, eating too much, not saving enough, drinking alcohol, or taking marijuana—or does this create a nanny state, leading to infantilization, demotivation, and breaches in individual autonomy? Looking at examples from both sides of the Atlantic and around the world, Government Paternalism examines the justifications for, and the prevalence of, government involvement and considers when intervention might or might not be acceptable.
Post‑Capitalism: A guide to our future
Reviewer: Dr Rebecca Harding, Independent Consultant
From Paul Mason, the award-winning Channel 4 presenter, Postcapitalism is a guide to our era of seismic economic change, and how we can build a more equal society.