Fans pick 89 books like Interest And Prices

Grappling with the meaning of money and unraveling its impact on prices or on the creation of wealth is enduringly controversial.

Fascination with money - to eyes or pockets - is universal. Fisher understood this!

He defined money simply as what is acceptable in exchange for goods: bills, coins, cheques - legal tender - or other forms of debt.

Since inflation, for Fisher, is a monetary phenomenon, and as in classical physics, where one matter is equalised to another, in his economics, money-on-the-move is always balancing products-for-a-price; in the long run, too much money or too little does not affect wealth creation but only the level of price.

Fisher is a ‘must read’ because this, his ultimate conclusion, deprived of his many subtleties, is the basis of present macroeconomics.

Take Hayek’s market economy as a Bohemian accordion orchestra.

As its instruments produce music, each elongates, pulls in air (analogous to money), and compresses, expresses air (money). Air-in (savings) is equal to air-out (investment). Fluctuating elongations and compressions are an essential feature of the orchestra (the economy).

For Hayek, interference with harmonious accordion (economic) activity infusing or restricting air (money) would spoil the music.

Economic fluctuations stem from preferences, spending for present enjoyment, or saving for future gains. Relative demands for end products or capital impact relative prices, costs, and returns, affecting savings/investment. Investment money, as IOUs, flies where returns are highest.

Hayek engages readers to prove that bank interventions’ tinkering with money is as capable of producing compassionate social outcomes as free individuals using their earnings as they wish.

Hicks envisaged an economy in which individuals choose to offer labour for income to purchase products of their effort or to spend time in uncompensated leisure.

His is a theorical economy: individuals and firms interact to determine current and future supplies and demands. It establishes the laws governing the price system regulating exchange and production.

In this world of transparent, free movement of goods and resources without government, regulations, banks, and unions, there is no room for monopolies or capital accumulation. 

Money as intermediary is simply a unit of account. Growth is the outcome of needs, efforts, and mutual cooperation.

Value and Capital, a jewel, is the core of current microeconomics, but Hicks’ economy, in which inflation and income disparities are non-issues, is not a capitalist but a market one; ironically present microeconomists conflate the two.

Most economists associate volume of money with price-level (inflation/deflation), not Keynes.

For him, a macro price-level does not reveal the unsynchronized dynamics affecting the prices of its components: commodities, labor, capital, raw materials, profits; it must be decomposed.

When FunCorp invests in a rollercoaster, its decision is based on present costs and future returns (ticket sales, performance, stock options, etc.).

Windfall profits will lead to more expansion; losses, to curtailed activity. Both expansion, contingent on easy credit, or recession, on the tightening of credit, depend on bankers’ use of individuals’ savings and their creation of more deposits.

For Keynes, an institutionalised banking system is essential for a modern economy but he advocated, in the public interest, for strict rules on bankers’ abuse of credit, to mitigate the inflation/deflation rollercoaster. 

While many celebrated the ethnic revival of the 1960s and the social justice causes that grew from them, Steinberg offers a powerful and challenging thesis that argues the limits of ethnicity. A sense of ethnic re-birth, he argues, can only occur once ethnicity is gone. Rather than empowering a new generation of social justice youth, ethnicity proves a myth.

Two high-profile activists have edited this anthology, which tackles the problem of how to address harm without incarcerating people.

A lot of people get stuck on abolition because they see it as a tearing down of a system, without understanding what new structures we’d need to build in its place. These brilliant thinkers grapple with what a more humane and accountable process would look like.

I particularly recommend the chapter on the transformative justice approach to ending child sexual abuse.

This book is a bible for people who care about changing the system, rather than just tinkering around the edges.

A soliologist and organiser, Erik Olin Wright manages to map out strategic exits from our exploitative economic, social, and political structures. He pulls together building blocks for a different world, shows them to us, and offers them for us to experiment with. Olin Wright was writing about things like universal basic income way before they were sexy and he writes with both passion and precision.

As someone who’s spent most of my life trying to get closer to the roots of our collective struggles, Olin Wright’s work is a huge support. It’s often difficult to feel like we’re making a difference, like everything’s sliding in the wrong direction no matter what we do.

Envisioning Real Utopias is a solid manual and a vital companion, covered with ink stains and pencil… show more.

This book is unlike anything I’d ever read, but I desperately needed it. As the title suggests, the book flows with deep wisdom from within oceans. As a long-time resident of a landlocked state, I’ve always approached large bodies of water with a sense of awe (and, quite honestly, fear).

This creative nonfiction tells the story of possibility, kinship, and collective kindness available in the depths. The book itself is a technology for living well with others and ourselves.

Although this collection of short stories can be generally categorized as speculative fiction—and most are more specifically science fiction—there is nevertheless a strong visionary element in many of them. As I would expect when reading any book that has many authors, I relate to some stories more than others.

I particularly loved how they collectively built on the amazing legacy of Octavia Butler and did so by explicitly uniting around the social justice theme.

For kids who think that "history" is made only by old people who lived long ago, this accessible anthology showcases fourteen of today's young people who are speaking up. It profiles a diverse range of contemporary activists (starting at eight years old) throughout the United States, kids who have worked on issues from climate change to safe water to social justice.

The book's creative format is particularly engaging for children and educators and makes it stand out in the field of anthologies. It provides a brief biography of every young person included, followed by a poem. Each poem is written by a different poet (including such excellent writers as Nikki Grimes and Lesléa Newman) and in a different form. The back matter explains the various poetic forms used and provides additional information about the editors' research and ideas about how young people can improve their communities.