Money, blood and revolution
How Darwin and the doctor of King Charles I could turn economics into a science
Reviewer: Keith, Wade, Chief Economist, Schroders
Economics is a broken science, living in a kind of Alice in Wonderland state believing in multiple, inconsistent, things at the same time. Prior to the financial crisis, mainstream economics argued simultaneously for small government on taxation, regulation and spending, but big government on monetary policy. After the financial crisis, economics is now arguing for more government spending and for less government spending.
The premise of this book is that the internal inconsistencies between economic theories - the apparently unresolvable debates between leading economists and the incoherent policies of our governments - are symptomatic of economics being in a crisis. Specifically, in a scientific crisis.
Unbalanced: The co‑dependency of America and China
Reviewer: Christine Shields, Shields Economics
The Chinese and U.S. economies have been locked in an uncomfortable embrace since the late 1970s. Although the relationship initially arose out of mutual benefits, in recent years it has taken on the trappings of an unstable codependence, with the two largest economies in the world losing their sense of self, increasing the risk of their turning on one another in a destructive fashion. In Unbalanced: The Codependency of America and China Stephen Roach, senior fellow at Yale University and former chairman of Morgan Stanley Asia, lays bare the pitfalls of the current China-U.S. economic relationship.
How to Speak Money
Reviewer: Anna Leach, Head of Economic Analysis, CBI
Money is our global language. Yet so few of us can speak it. The language of the economic elite can be complex, jargon-filled and completely baffling. Above all, the language of money is the language of power - power in the hands of the same economic elite.
Now John Lanchester, bestselling author of Capital and Whoops! sets out to decode the world of finance for all of us, explaining everything from high-frequency trading and the World Bank to the difference between bullshit and nonsense.
Nine economic policy disasters and what we can learn from them
Reviewer: James Howatt, Capital Economics
In recent years, the world has been rocked by major economic crises. In Wrong, economist Richard Grossman addresses why these came about, shining a light on the poor thinking behind nine of the worst economic policy mistakes of the past 200 years, missteps whose outcomes ranged from appalling to tragic.
The Rise of the Reluctant Innovator
Reviewer: Adrian Woods, Eurekazone
The Rise of the Reluctant Innovator" provides a welcome challenge to conventional wisdom in social entrepreneurship. It highlights the personal stories of ten social innovators from around the world.
The Great Depression of the 1930s
Lessons for today
Reviewer: Bill Allen
This edited collection provides an authoritative introduction to the Great Depression as it affected the advanced countries in the 1930s
The Locust and the Bee
Predators and Creators in Capitalism’s Future
Reviewer: Rebecca Harding, Delta Economics
Geoff Mulgan argues in this compelling, imaginative, and important book, that the economic crisis also presents a historic opportunity to choose a radically different future for capitalism, one that maximizes its creative power and minimizes its destructive force.
Globalization and Development
Why East Asia Surged Ahead and Latin America Fell Behind
Reviewer: Mina Toksoz, Emerging Market and Country Risk Consultant
Why has there has been such a pronounced divergence in the economic fortune of developing countries? Comparing the experience of East Asia and Latin America since the mid-1970s, Elson identifies the key internal factors common to each region which have allowed East Asia to take advantage of the trade, financial, and technological impact of a more globalized economy to support its development, while Latin America has not.
The Road To Recovery
How and Why Economic Policy Must Change
Reviewer: Mark Cleary, Kinetic Economics
Providing practical guidance on reducing government, household and business debt, a well-respected economist stresses the importance of revising the neoclassical consensus governing global-economic decision-making to avoid the next financial collapse.
After the Crisis
Reviewer: David Smith, Economics Editor, Sunday Times
Andrew Sentance rightly identifies a number of key lessons for policymakers today as they seek to deliver a balanced and sustainable growth path going forward.