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As Nobel prize-winning economist Robert Lucas put it, "Once you start thinking about economic growth, it's hard to think about anything else." That's why I am eager to share the best books on economic development with you! I am a Senior Economist at the World Bank, the world's premier development institution. Over the years, I have developed a deep interest in what makes countries prosper, have published extensively on the topic in academic journals, and earned a PhD in Economics along the way. As a development practitioner, I have been supporting sustainable growth across the globe, with working experience in the Caribbean, Africa, and the Pacific.
The book, written in a very accessible manner, helps to understand the constraints the poor face and how they make decisions on matters such as education, healthcare, savings, entrepreneurship, and a variety of other issues.
Duflo and Banerjee, recipients of the Nobel Prize in Economics, advocate for the use of randomized controlled trials and, most importantly, to actually listen to what the poor have to say.
The book won the 2011 Financial Times and Goldman Sachs Business Book of the Year Award. To me, it was an eye-opener and a refreshing way to rethink poverty reduction.
Why do the poor borrow to save? Why do they miss out on free life-saving immunizations, but pay for unnecessary drugs? In Poor Economics , Abhijit V. Banerjee and Esther Duflo, two practical visionaries working toward ending world poverty, answer these questions from the ground. In a book the Wall Street Journal called marvellous, rewarding," the authors tell how the stress of living on less than 99 cents per day encourages the poor to make questionable decisions that feed,not fight,poverty. The result is a radical rethinking of the economics of poverty that offers a ringside view of the lives of…
I advise private and public sector clients on the unlocking of value from public assets.
After a few years in investment banking in Asia and Europe, I was asked to lead the comprehensive restructuring of Sweden’s USD70bn national portfolio of commercial assets—the first attempt by a European government to systematically address the ownership and management of government enterprises and real estate. This experience has allowed me to work in over thirty countries and serve as a Non-Executive Director. Ultimately sharing the collective experience in two books written together with Stefan Fölster—The Public Wealth of Nations—which was awarded The Economist and Financial Time’s best book of the year, as well as The Public Wealth of Cities.
Would you rather that your local football team or even the national team was selected through family ties or political connections? How did meritocracy—the idea that people should be advanced according to their talents rather than their birth—become the world's ruling ideology? Why is meritocracy now under attack from both right and left? Adrian Wooldridge shows what transformative effects it has had everywhere it has been adopted, especially once women were brought into the meritocratic system. He also shows how meritocracy has now become corrupted and argues that the recent stalling of social mobility is the result of the failure to complete the meritocratic revolution. Rather than abandoning meritocracy, he says, we should call for its renewal.
'This unique and fascinating history explains why the blame now being piled upon meritocracy for many social ills is misplaced-and that assigning responsibilities to the people best able to discharge them really is better than the time-honoured customs of corruption, patronage, nepotism and hereditary castes. Wooldridge upends many common assumptions and provides an indispensable back story to this fraught and pressing issue.' Steven Pinker
'The Aristocracy of Talent provides an important and needed corrective to contemporary critiques of meritocracy. It puts meritocracy in an illuminating historical and cross-cultural perspective that shows how crucial the…
Well before I trained as a scholar, I was an activist motivated by opposition to the Vietnam War and support for civil rights and social justice. Those commitments continued throughout my academic career and have now morphed into a resolve to write about recent threats to liberal order, democracy, and justice. The election results of 2016 – the triumph of “leave” in the Brexit vote and of Donald Trump in the Presidential election, forced me to rethink the history of things I have come to cherish – liberal order, democracy, and social and racial justice – how support for them has ebbed, and why they now require vigorous and informed defense.
Hacker and Pierson argue that “plutocratic populism,” their term for what currently ails the United States and other democracies, is the latest solution to a structural dilemma in modern democracy.
Conservatives are regularly determined to protect wealth and privilege but need to win over voters who typically lack wealth and privilege to elect them. That means a continual effort to craft appeals that, in effect, disguise their aims.
The recent turn to populism means relying on non-economic issues – race, nativism, and various culture war issues concerning sex and gender most potently – to attract voters to support parties whose first allegiance is to the economic interests of elites.
This strategy can also lead, at times, to attacks on democracy and voting as well.
The Republican Party appears to be divided between a tax-cutting old guard and a white-nationalist vanguard-and with Donald Trump's ascendance, the upstarts seem to be winning. Yet how are we to explain that, under Trump, the plutocrats have gotten almost everything they want, including a huge tax cut for corporations and the wealthy, regulation-killing executive actions, and a legion of business-friendly federal judges? Does the GOP represent "forgotten" Americans? Or does it represent the superrich?
In Let Them Eat Tweets, best-selling political scientists Jacob S. Hacker and Paul Pierson offer a definitive answer: the Republican Party serves its plutocratic masters…
As Nobel prize-winning economist Robert Lucas put it, "Once you start thinking about economic growth, it's hard to think about anything else." That's why I am eager to share the best books on economic development with you! I am a Senior Economist at the World Bank, the world's premier development institution. Over the years, I have developed a deep interest in what makes countries prosper, have published extensively on the topic in academic journals, and earned a PhD in Economics along the way. As a development practitioner, I have been supporting sustainable growth across the globe, with working experience in the Caribbean, Africa, and the Pacific.
Stefan Dercon argues that the answer lies not in specific policies but rather in a key ‘development bargain,’ whereby a country’s leaders shift from protecting their own interests to gambling on a growth-based future. Despite its imperfections, China is among the most striking recent success stories, along with Indonesia and Ethiopia.
This book is about these choices, in contrast to countries stuck in a bad equilibrium. I loved the global experience Dercon drew on, ranging from Ebola in Sierra Leone, scandals in Malawi, beer factories in the Congo, mobile phone licenses in Mozambique, and humanitarian aid in Sudan.
In the last thirty years, the developing world has undergone tremendous changes. Overall, poverty has fallen, people live longer and healthier lives, and economies have been transformed. And yet many countries have simply missed the boat. Why have some countries prospered, while others have failed? Stefan Dercon argues that the answer lies not in a specific set of policies, but rather in a key 'development bargain', whereby a country's elites shift from protecting their own positions to gambling on a growth-based future. Despite the imperfections of such bargains, China is among the most striking recent success stories, along with Indonesia…
I advise private and public sector clients on the unlocking of value from public assets.
After a few years in investment banking in Asia and Europe, I was asked to lead the comprehensive restructuring of Sweden’s USD70bn national portfolio of commercial assets—the first attempt by a European government to systematically address the ownership and management of government enterprises and real estate. This experience has allowed me to work in over thirty countries and serve as a Non-Executive Director. Ultimately sharing the collective experience in two books written together with Stefan Fölster—The Public Wealth of Nations—which was awarded The Economist and Financial Time’s best book of the year, as well as The Public Wealth of Cities.
A thousand years ago, a traveller to Baghdad, Constantinople, or China would find vast and flourishing cities of broad streets, spacious gardens, and sophisticated urban amenities; meanwhile, Paris, Rome, and London were cramped and unhygienic collections of villages. Europe was then a backwater. How, then, did it rise to world pre-eminence over the next several centuries? Having experienced China and its epic growth since being in Student in Shanghai in the early 1980s and then later as a banker, it seems there could be something to learn from history. Daly avoids the twin dangers of Eurocentrism and anti-Westernism, strongly emphasizing the contributions of other cultures of the world, as well as the vibrant and internal competition among cities and nations of Europe.
One thousand years ago, a traveler to Baghdad or the Chinese capital Kaifeng would have discovered a vast and flourishing city of broad streets, spacious gardens, and sophisticated urban amenities; meanwhile, Paris, Rome, and London were cramped and unhygienic collections of villages, and Europe was a backwater. How, then, did it rise to world preeminence over the next several centuries? This is the central historical conundrum of modern times.
How Europe Made the Modern World draws upon the latest scholarship dealing with the various aspects of the West's divergence, including geography, demography, technology, culture, institutions, science and economics. It avoids…
I advise private and public sector clients on the unlocking of value from public assets.
After a few years in investment banking in Asia and Europe, I was asked to lead the comprehensive restructuring of Sweden’s USD70bn national portfolio of commercial assets—the first attempt by a European government to systematically address the ownership and management of government enterprises and real estate. This experience has allowed me to work in over thirty countries and serve as a Non-Executive Director. Ultimately sharing the collective experience in two books written together with Stefan Fölster—The Public Wealth of Nations—which was awarded The Economist and Financial Time’s best book of the year, as well as The Public Wealth of Cities.
Governments' Ridiculous Budget and Pension Accounting "Would make Enron blush" Bill Gates once said. Having worked with balance sheets in both the private and public sectors, I bear witness to the sad fact that governments all over the world are obsessed with a focus on cash. They do not even have the faintest interest in learning from what has created wealth in the private sector, adopting proper accounting in order to meet the multitude of challenges facing our society.
Jacob Soll presents a sweeping history of accounting, drawing on a wealth of examples from over a millennium of human history to reveal how accounting has shaped kingdoms, empires, and entire civilizations. Perhaps we can learn some rather old lessons from this surprisingly exciting history of accountancy. Or pay the price of our own ignorance.
In The Reckoning, award-winning historian Jacob Soll shows how the use and misuse of financial bookkeeping has determined the fates of entire societies. Time and again, Soll reveals, good and honest accounting has been a tool to build successful companies, states and empires. Yet when it is neglected or falls into the wrong hands, accounting has contributed to cycles of destruction that continue to this day. Combining rigorous scholarship and fresh storytelling, The Reckoning traces the surprisingly powerful influence of accounting on financial and political stability, from the powerful Medici bank in the 14th century Italy to the 2008 financial…
Well before I trained as a scholar, I was an activist motivated by opposition to the Vietnam War and support for civil rights and social justice. Those commitments continued throughout my academic career and have now morphed into a resolve to write about recent threats to liberal order, democracy, and justice. The election results of 2016 – the triumph of “leave” in the Brexit vote and of Donald Trump in the Presidential election, forced me to rethink the history of things I have come to cherish – liberal order, democracy, and social and racial justice – how support for them has ebbed, and why they now require vigorous and informed defense.
Cultural Backlash is aimed at sorting out the roots of the recent rise of what the authors call authoritarian populism, which is much the same thing as plutocratic populism.
They locate its origins in a backlash against the social consequences and policies that grew from socio-economic shifts that began in the 1960s and 1970s.
These include, obviously enough, the sexual revolution and changing gender norms, the civil rights movement and the increasingly multi-racial and multi-cultural character of modern societies, and the turn toward values that Inglehart, decades ago, termed post-materialist.
The book is distinguished by the vast amount of quantitative data it presents and deploys to illustrate its central argument.
Authoritarian populist parties have advanced in many countries, and entered government in states as diverse as Austria, Italy, the Netherlands, Poland, and Switzerland. Even small parties can still shift the policy agenda, as demonstrated by UKIP's role in catalyzing Brexit. Drawing on new evidence, this book advances a general theory why the silent revolution in values triggered a backlash fuelling support for authoritarian-populist parties and leaders in the US and Europe. The conclusion highlights the dangers of this development and what could be done to mitigate the risks to liberal democracy.
Since 2008, I have conducted research on themes related to International Political Economy. I am currently the co-chair of the research committee on this topic at the International Political Science Association (IPSA) and am passionate about making sense of the interplay between material and symbolic factors that shape capitalism and globalisation. Being based in Brazil, I was stuck when the country—which did not have salient identity cleavages in politics—came to be, after 2008, a hotspot of religious-based right-wing populism associated with the defence of trade liberalisation as globalisation started to face meaningful backlash from White-majority constituencies who are relatively losers of the post-Cold War order in the advanced industrialised democracies.
I love the way he explores the interplay between economic ideas and political institutions that culminated in the triumph of market forces in the aftermath of the Cold War. Yet, Gerstle’s most interesting insights lie at the end of the book as he classifies Trump and Modi as ethnonationalist leaders of the same feather as China’s Xi Jinping and Russia’s Vladimir Putin.
Globalisation, however, has not necessarily reached its end, as it may simply be reframed to fit a world whose shape has yet to be defined.
Best Books of 2022: Financial Times Best Non-Fiction Books of 2022: De Tijd Shortlisted for Financial Times Best Business Book of the Year
The most sweeping account of how neoliberalism came to dominate American politics for nearly a half century before crashing against the forces of Trumpism on the right and a new progressivism on the left.
The epochal shift toward neoliberalism-a web of related policies that, broadly speaking, reduced the footprint of government in society and reassigned economic power to private market forces-that began in the United States and Great Britain in the late 1970s fundamentally changed the world.…
Well before I trained as a scholar, I was an activist motivated by opposition to the Vietnam War and support for civil rights and social justice. Those commitments continued throughout my academic career and have now morphed into a resolve to write about recent threats to liberal order, democracy, and justice. The election results of 2016 – the triumph of “leave” in the Brexit vote and of Donald Trump in the Presidential election, forced me to rethink the history of things I have come to cherish – liberal order, democracy, and social and racial justice – how support for them has ebbed, and why they now require vigorous and informed defense.
Ikenberry is the leading scholar writing about the origins, the evolution, and the working of the liberal international order.
He sees deep connections between liberal internationalism, liberal democracy, and democratic capitalism.
Ikenberry charts the transformations that have occurred in the liberal order, from its successful creation after the Second World War to its consolidation and expansion after the end of the Cold War to the challenges it currently faces.
He is acutely aware of liberal order’s faults and limitations, but insists that it remains the world’s best hope.
A sweeping account of the rise and evolution of liberal internationalism in the modern era, selected as a Best Book of 2021 by Foreign Affairs
"A thoughtful and profound defence of liberal internationalism-both as a political philosophy and as a guide to future actions."-Gideon Rachman, Financial Times
"The crowning achievement of [Ikenberry's] decades-long work explaining and defending the liberal international order."-Michael Hirsch, Foreign Policy
For two hundred years, the grand project of liberal internationalism has been to build a world order that is open, loosely rules-based, and oriented toward progressive ideas. Today this project is in crisis, threatened from the…
As Nobel prize-winning economist Robert Lucas put it, "Once you start thinking about economic growth, it's hard to think about anything else." That's why I am eager to share the best books on economic development with you! I am a Senior Economist at the World Bank, the world's premier development institution. Over the years, I have developed a deep interest in what makes countries prosper, have published extensively on the topic in academic journals, and earned a PhD in Economics along the way. As a development practitioner, I have been supporting sustainable growth across the globe, with working experience in the Caribbean, Africa, and the Pacific.
In a captivating journey from the dawn of human existence to the present, Oded Galor offers a fascinating tale of why some nations have developed while others haven't.
The book explains how technology, family size, and adaptation led to a profound change in human history, with the Industrial Revolution as the turning point. The fundamental forces driving the explosion of per capita prosperity (in some nations) can be traced back to sound political institutions, conducive cultural traits, and an 'optimal' ethnic diversity that followed from the dispersal of modern humans out of Africa some 70,000 years ago.
I was struck by how the author brought together a wide variety of research on growth and development in a coherent framework.
This breakthrough scientific masterwork - and INTERNATIONAL BESTSELLER - reveals the underlying forces that have shaped human history and will secure our future...
'Masterful. Galor answers the ultimate mystery' Lewis Dartnell
The stunning advances that have transformed human experience in recent centuries are no accident of history - they are the result of universal and timeless forces, operating since the dawn of our species. Drawing on a lifetime's scientific investigation, Oded Galor's ground-breaking new vision overturns a host of long-held assumptions to reveal the deeper causes that have shaped the journey of humanity:
Education rather than industrialisation Family size and…
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