Since completing my PhD in political economy (dissertation: ‘International Integration and Foreign Policy Decision-making’) I have gone deeper into economic origins of change (eg. Modern Inflation, coauthored with well-known economist Wilhelm Hankel in Bologna, Italy at Johns Hopkins SAIS) and find the interactions between economic, politics, and psychology fascinating—presenting an infinite number of ‘Sherlock Holmes-like puzzles’. We are all now confronted with political, economic, and psychological uncertainties, put on high speed due to the war in Ukraine and great power tensions. So it is time to learn about the origins of our problems and their trends in order to better cope and find a basis for individual, if not collective, peace.
I wrote...
Brave New World Economy: Global Finance Threatens Our Future
Unrestrained global finance and the massive credit and debt crisis call for a radical restructuring of the world monetary system with more stringent banking rules both domestically and internationally. Political economists Wilhelm Hankel and Robert Isaak describe how capitalism can be tamed to lead to economic stability and job creation. They describe the risks and rewards of borrowing from future generations to save the current generation—in the US, Europe, and the developing world; detail how money became separated from government control and why the interbanking credit system threatens western nations with bankruptcy, undermining pensions, and the human right to work; point out why nation-states need to go back to helping themselves for sustainable job recovery and not rely on the false promises of regional integration and globalization.
I invited Edmund Phelps to speak at Pace University in New York the week before he received the Nobel Prize in Economics.
His thesis, captured in detail in this book, is that state welfare economies in Europe have become too disconnected from the prerequisites for the entrepreneurial economic growth and innovation necessary to create jobs and to pay for the social benefits. Given the huge debt overhang in most of these countries, not to mention developing countries, his controversial thesis then could not be more timely now!
All people need to be motivated to become entrepreneurial in order to provide human health, comfort, and self-actualization for themselves, their families, and fellow citizens. Have you been taught this at school?!!!
In this book, Nobel Prize-winning economist Edmund Phelps draws on a lifetime of thinking to make a sweeping new argument about what makes nations prosper--and why the sources of that prosperity are under threat today. Why did prosperity explode in some nations between the 1820s and 1960s, creating not just unprecedented material wealth but "flourishing"--meaningful work, self-expression, and personal growth for more people than ever before? Phelps makes the case that the wellspring of this flourishing was modern values such as the desire to create, explore, and meet challenges. These values fueled the grassroots dynamism that was necessary for widespread,…
Schumpeter’s book is not only a classic, but explains what we are experiencing and need to focus upon.
He argues that in the ‘creative destruction’ of capitalism, the entrepreneurs are the vanguard of economic growth. But the late stages of capitalism lead to so much focus upon efficiency that leisure overwhelms the motive to work (French society where less than a third in polls believe work to be important and there are mass protests against pension reform??).
This, in turn, leads to social movements against capitalist efficiencies which inevitably result in socialism replacing capitalism and undermining sustainable democracy.
“Joseph Schumpeter’s classic Capitalism, Socialism and Democracy explains the process of capitalism’s 'creative destruction' — a key principle in understanding the logic of globalization." — Thomas L. Friedman, Foreign Policy
In this definitive third and final edition (1950) of his prophetic masterwork, Joseph A. Schumpeter introduced the world to the concept of “creative destruction,” which forever altered how global economics is approached and perceived. Now featuring a new introduction by Pulitzer Prize-winning Schumpeter biographer Thomas K. McCraw, Capitalism, Socialism and Democracy is essential reading for anyone who seeks to understand where the world economy is headed.
Piketty uses tax receipts of past decades in developed economies to show that wealth increasing comes from capital, not labor, greatly increasing the gap between the rich and the poor (I anticipated this argument in my 2005 book).
His analysis demonstrates the importance of regulating the clearly unrestrained risks of capitalism. But whether his solution of a global wealth tax is realizable is an open question.
A New York Times #1 Bestseller An Amazon #1 Bestseller A Wall Street Journal #1 Bestseller A USA Today Bestseller A Sunday Times Bestseller A Guardian Best Book of the 21st Century Winner of the Financial Times and McKinsey Business Book of the Year Award Winner of the British Academy Medal Finalist, National Book Critics Circle Award
What are the grand dynamics that drive the accumulation and distribution of capital? Questions about the long-term evolution of inequality, the concentration of wealth, and the prospects for economic growth lie at the heart of political economy. But satisfactory answers have been hard…
Shiller predicted both the dot-com crisis (2001) and the financial crisis stemming from real estate (2008) in advance in two editions of this book.
Since receiving the Nobel prize in economics he published his book Narrative Economics: How Stories Go Viral which together with the book recommended will help the reader predict the timing of coming economic trends.
In this revised, updated, and expanded edition of his New York Times bestseller, Nobel Prize-winning economist Robert Shiller, who warned of both the tech and housing bubbles, cautions that signs of irrational exuberance among investors have only increased since the 2008-9 financial crisis. With high stock and bond prices and the rising cost of housing, the post-subprime boom may well turn out to be another illustration of Shiller's influential argument that psychologically driven volatility is an inherent characteristic of all asset markets. In other words, Irrational Exuberance is as relevant as ever. Previous editions covered the stock and housing markets--and…
‘Dr. Doom’ (he prefers ‘Dr. Realist’) gives a lucid summary of major threats confronting the global economy and possible policy changes to alleviate them.
This book is well written and hits the nails all on the head with his diagnosis and possible corrective policies. HisYouTube interview on his book is brilliant, so I need not say more.
I've been passionate about music for almost my entire life. Jazz music in particular speaks to me but not just jazz. I love music, full stop. I really discovered jazz when I attended a jazz club workshop in London and there, I had to join in or leave. I chose to join in and since then I have never looked back. I was introduced to more jazz musicians and now write about music for three major columns as well as Readers’ Digest. My Women In Jazz book won several awards. I have been International Editor for the Jazz Journalist Association and had my work commissioned by the Library of Congress.
With input from over 100 musicians, the book discusses what exactly jazz is, and how you know you are listening to it. Do we truly know when and how jazz first originated? Who was the first jazz musician? How does jazz link to other genres? What about women in jazz? And writers and journalists? Do reviews make any difference?
This book is a deep dive into jazz's history, impact, and future. It discusses jazz's social, cultural, and political influence and reveals areas where jazz has had an impact we may not even realize.Its influences on hip hop, the connection to…
This book is very different from other, more general jazz books. It is packed with information, advice, well researched and includes experiences from jazz musicians who gleefully add their rich voices to Sammy's in-depth research. All genres, from hard bop to be-bop, vocal jazz, must instrumental, free jazz, and everything between is covered in one way or another and given Sammy's forensic eye. There is social commentary and discussions of careers in jazz music. The musical background of those in the book is rich and diverse. Critics comment: "This new book by Sammy Stein is a highly individual take on…
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