Fans pick 100 books like The Economics of Belonging

This is one of the most influential books on economic globalization written in the last decade, and it will certainly continue to be crucial to understand the future of globalization.

Rodrik’s Globalization Paradox pinpoints the key policy trade-offs in a globalized economy: If policymakers opt for “hyper-globalization” while insisting on national decision-making, they could find their societies in the “golden straitjacket” of global capitalism.

Alternatively, they could give up sovereignty to democratically legitimized “global governance”.

As the latter is difficult to achieve and often unacceptable to national policymakers, Rodrik argues for limiting hyper-globalization.

The existence of a globalization paradox as well as Rodrik’s conclusion, has been hotly discussed, but the ongoing debate only proves the importance of his book.

What holds the future of globalization in store?

I learned a lot from Baldwin’s insightful book, which posits a fast and dramatic rise of digital service trade between high- and low-wage countries.

Such services could range from well-known digital back-office services, such as airline ticketing in India, to more speculative “global robotics”, dubbed “globotics”, such as cross-border controlling of robots via virtual reality devices.

Baldwin points to new opportunities emerging to developing economies that hitherto were unable to gain from the globalization of manufacturing value chains. But he also warns of potentially dramatic social consequences in high-wage countries.

Whether you agree or disagree with his diagnosis, this is essential reading to be prepared for the next wave of globalization and its potential social disruptions.

I enjoyed this book because it provides a demanding, essential, and controversial reading.

Nobel laureate Joseph Stiglitz and his long-time co-author Bruce Greenwald make three crucial points: First, learning is the key to innovation and thus to economic and societal progress; second, many of our institutions, especially the strong protection of intellectual property rights often inhibit learning and innovation; and third, openness to trade is not always the best way to promote learning.

Instead, the authors advocate “an infant-economy protection” of the entire manufacturing sector in developing economies.

Whether or not you follow the authors in their conclusions, this book is an intellectual treat for anyone who enjoys a challenging read.

Populists are dividers. They campaign on the basis of representing the pure mass of people over a reviled elite. For left-wing populists (such as those who have sometimes prevailed in Latin America), the elite are affluent landowners. For right-wing populists (the kind who have emerged in recent decades), the elite are intellectuals, immigrants, and internationalists.

Barry Eichengreen's book provides a historical and economic analysis of populism. Eichengreen traces the rise of populist movements from the 19th century to the present, identifying economic insecurity, inequality, and globalization as key drivers. He discusses how populist leaders exploit economic grievances and mistrust of elites to build broad-based support, often advocating protectionist and anti-immigrant policies.

Through case studies of populist leaders, such as Donald Trump in the United States and Marine Le Pen in France, Eichengreen illustrates the potential dangers of populism to economic stability and democratic governance while also suggesting policy measures to… show more.

Mary Furner’s book presents what is the common view of progressives as liberal reformers, but there is another side to progressive social science that is less liberal. 

The progressive era social science literature is replete with racism and with arguments about racial and other forms of inferiority derived from eugenics.

The vast amount of immigration from Southern and Eastern Europe gave rise to concerns about the undermining of American standards, both biological and economic, including theories of “race suicide.” 

Leonard’s book has generated a great deal of discussion, and while there is no doubt that many progressives displayed eugenic and racist ideas, it needs to be stressed that such views were not limited to progressives, but included many of those with conservative and even free-market views in other areas.     

You might think this book is a bit left field in the arena of leadership, given its title. I think it cuts to the heart of the big question all leaders, whether of organisations or nations, should be considering, that of economics and economy.

What really resonated with me is the exploration of the subject from holistic and spiritual, or consciousness, perspectives and how this encourages thinking more deeply about the confines and constraints our economic systems place on us, the compromises that ensue in decision-making and, most importantly, the choices we need to consider more carefully from an ethical and human values standpoint.

This is a topic central to human survival and well-being, a must-read for leaders.

In an accessible language and with multiple real-life examples, Madrick systematically critically engages every humdrum idea of principle attributed to the presumed success of capitalism. Following to a great extent Karl Marx’s lead on the self-destruction of the economic system we call capitalism, Madrick updates the critique to the 21st century and shows, time and again, why capitalism is not only prone to recessions and depressions but will bring about its own demise.

This book explains the unchecked power of the Federal Reserve.

Perfect for those who don't have the time to read the 608-page The Creature From Jekyll Island. In this book, Paul explains in very simple terms that the Federal Reserve has been given absolute power over the most essential element of our economy – the price and supply of money.

Formed by a small group of powerful bankers who argued a central bank would stabilize the currency, over the past century since its creation, the Fed has not only destabilized the currency but also created a series of wealth-destroying asset bubbles.

It has also led to a trenchant and destructive wealth gap between the rich and the poor. 

This may seem an unusual choice – and its title is entirely misleading – but what Sanders describes is what the U.S. might look like if it translated Biblical values into policy and law.

Sanders’s real subject is justice – social, economic, racial, and environmental. He describes a compassionate society in which all have access to life, liberty, and the pursuit of happiness, and in which no one is condemned to suffer because of the accidents of birth.

Significantly, Sanders backs up all his suggestions with explanations of how they could be translated into reality. Read this even if you didn’t vote for him!

While researching a documentary, I tripped over an interview with George Reedy, White House press secretary from 1964-65.

Reedy had also worked in Pres. Johnson’s Senate office, and he spoke about how thirteen days after the Sputnik launch, he and an aide to Alabama Senator Lister Hill plotted to use the space program to transform the South. This book fleshes out much of that story. While it primarily delves into the economic development and transformation of the South, it also provides valuable insights into Johnson’s tenure as a senator.

The book highlights how Johnson used his political acumen to advocate for policies that would improve the economic conditions of his region. He understood the importance of federal investment in infrastructure, education, and healthcare to lift the region out of poverty.