Peter Temin is an economist and economic historian, currently a professor at MIT and the former head of the Economics Department. His research interests include macroeconomic history, the Great Depression, industry studies in both the nineteenth and twentieth centuries, and ancient Rome.
I love this book for two reasons. It condenses a massive amount of economic history into a small book, and it shows how our unequal societies are backtracking to older models of the economy.
I
lived through some of the events that Lane Windham describes in her
super-readable and super-informative account of how new types of workers
challenged both their employers and the American labor movement to listen to
them and improve their work lives.
Shipyard workers, department store workers,
office workers – these groups figured out new ways to raise their voices and
“knock on the door” to make themselves heard. The result was big changes in their own lives, in the workplace, and in
America’s unions.
Today, we’re seeing a surge of labor organizing just as groundbreaking as the
initiatives Lane Windham describes. This
made the book especially relevant for me.
The power of unions in workers' lives and in the American political system has declined dramatically since the 1970s. In recent years, many have argued that the crisis took root when unions stopped reaching out to workers and workers turned away from unions. But here Lane Windham tells a different story. Highlighting the integral, often-overlooked contributions of women, people of color, young workers, and southerners, Windham reveals how in the 1970s workers combined old working-class tools--like unions and labor law--with legislative gains from the civil and women's rights movements to help shore up their prospects. Through close-up studies of workers'…
I have been a student of the history of ideas, with a particular interest in political thought, for over forty years. I have read countless books, both ancient and modern, and in several languages, that explore themes related to public life. I am a dedicated citizen of a contemporary liberal democracy, but today, I live in fear of a growing backlash against liberal democracy. The risk of democratic backsliding in the contemporary US is real as citizens become more disillusioned with politics. In other liberal democracies, some party leaders are adopting populist rhetoric to enhance their electoral appeal, but in doing so, they are undermining some of the established norms of public life.
Rousseau is a delight to read. He offers a strong challenge to the Enlightenment thinkers of his time by suggesting that the modern embrace of commerce and sociability was more corrupt than beneficial for society.
In this Second Discourse, he offers a thought experiment through which we are taken back to the imagined origins of human society so that we can trace what is essential to the human condition.
He offers a statement of the injustice of modern economic inequality and invites us to consider political alternatives.
Donald Cress's highly regarded translation, based on the critical Pleiade edition of 1964, is here issued with a lively introduction by James Miller, who brings into sharp focus the cultural and intellectual milieu in which Rousseau operated. This new edition includes a select bibliography, a note on the text, a translator's note, and Rousseau's own Notes on the Discourse.
I have worked on the problems of poverty, particularly in sub-Saharan Africa, for much of my professional life. I worked at the Centre for the Study of African Economies, which is part of the Department of Economics at Oxford University, from 1991 until my retirement in 2012. I continue to work both with the Centre and the Department as a Managing Editor of Oxford Economic Papers and Chief Editor of the Journal of African Economies. My recent book The Poor and the Plutocrats grew out of this background where I wanted to understand the links between very poor countries and those of much richer ones.
The approach of Milanovic is very different from that of Hickel in that it is intensive in the use of data which, he would argue, shows a much more nuanced picture of the success of the global economy in reducing poverty than argued by Hickel.
He begins by reproducing the ‘Elephant Chart’ from his earlier work. This is a chart showing the relative gain in real per capita income by global income level. The name ‘Elephant’ comes from the shape of the chart which shows the largest income gains to have occurred for those in the middle of the distribution and the lowest in the range of 70 to 80 in the percentile distribution and the highest for those at the very top. Those in the middle being the hump of the elephant those at the top being its trunk.
Milanovic argues that in many respects the years before the…
Winner of the Bruno Kreisky Prize, Karl Renner Institut A Financial Times Best Economics Book of the Year An Economist Best Book of the Year A Livemint Best Book of the Year
One of the world's leading economists of inequality, Branko Milanovic presents a bold new account of the dynamics that drive inequality on a global scale. Drawing on vast data sets and cutting-edge research, he explains the benign and malign forces that make inequality rise and fall within and among nations. He also reveals who has been helped the most by globalization, who has been held back, and what…
I love to get kids fired up about true stories, using their imaginations and believing in themselves as future innovators, inventors, and creators. Crayola crayons inventor Edwin Binney's story is a fabulous springboard for exploring nature, color and creativity. I love to draw and make stuff just like Binney, so his story resonated with me. The more I researched, the more I admired how he listened to what people needed and looked to nature for inspiration. I am intrigued by the origins of everyday objects. Here are some books that inspired me when I was writing, and that have that fascinating a-ha moment that spurs on innovation.
I am fascinated by how everyday objects are invented, and in this book, readers will discover the real story of how the beloved Monopoly board game was created. The story is often misreported with the credit attributed to Charles Darrow, the man who popularized the game and sold it to the Parker Brothers. In fact, the game was invented by Lizzie Magie, who wanted to draw attention to financial inequality. The author challenges readers to decide – who was the real winner? Because, ironically, Magie sold her patent for only $500, while Darrow stood to make millions and appropriated the credit for the invention. But without the changes and improvements to the game made by the two of them, perhaps nobody would get to play Monopoly as we know it today.
In the late 1800s lived Lizzie Magie, a clever and charismatic woman with a strong sense of justice. Waves of urban migration drew Lizzie's attention to rising financial inequality. Suddenly she had an idea: create a game about the landlord-tenant relationship. But Lizzie's initial game vilified the monopolist. Enter Charles Darrow - a marketer and salesman with a keen eye for what Lizzie's creation could become: an enticing board game, and a staple of family entertainment in households across America.
Boldness, imagination, and ruthless competition combine in this riveting story that sets the record straight on the history of Monopoly's…
After receiving my doctorate in Economics at Cambridge University, I embarked on a 35-year sabbatical as a venture capitalist focused on information technology. I learned about the critical role that the American state had played by sponsoring the computer industry. When the "Dotcom Bubble" of the late 1990s grossly overpriced my companies, because I had written my PhD thesis on 1929-1931 when the Bubble of the Roaring Twenties exploded, I had seen the movie before and knew how it ended. I returned to Cambridge determined to tell this saga of innovation at the frontier and the strategic roles played by financial speculation and the state in funding economic transformation."
Philippe Aghion has been one of the pioneers in the development of “Schumpeterian Growth Theory” to model the process of Creative Destruction” that drives technological innovation and economic growth. This is an accessible presentation of the dynamics of the model and the observable consequences in the real world.
I have found it essential for teaching my course on Venture Capital and the Economics of Innovation.
Hayek Book Prize Finalist An Economist Best Book of the Year A Foreign Affairs Best Book of the Year A Financial Times Summer Reading Favorite
"Sweeping, authoritative and-for the times-strikingly upbeat...The overall argument is compelling and...it carries a trace of Schumpeterian subversion." -The Economist
"[An] important book...Lucid, empirically grounded, wide-ranging, and well-argued." -Martin Wolf, Financial Times
"Offers...much needed insight into the sources of economic growth and the kinds of policies that will promote it...All in Washington would do well to read this volume carefully." -Milton Ezrati, Forbes
Inequality is on the rise, growth stagnant, the environment in crisis. Covid seems…
Since I was a student, I have been fascinated with social and economic inequality–the more so because back then, my professors seemed to disregard this subject of study. So, I made it one of my own main areas of research: I simply needed to understand more about the nature and the causes of inequality in human societies. In recent years, I have been busy researching economic inequality in different historical settings, also looking at specific socioeconomic strata. I began with the poor, and more recently, I focused on the rich. In my list of recommendations, I included books that, I believe, are particularly insightful concerning wealth and the wealthy.
In this book, Walter Scheidel proficiently exploits the new information that we now have available about wealth inequality in the past to make one bold claim: across history, only catastrophes and large-scale violence (the “Great Leveler”) could significantly reduce economic inequality. Otherwise, the concentration of political power and of coercive force in a few hands also led wealth to become ever more concentrated.
This is a rather depressing view, with which I partially disagree for scientific reasons (as it downplays the importance of human agency and of our collective choices).
Nevertheless, I love this book for its scope, its ambition, and the treasure trove of information about the Classical Age and non-Western societies and cultures that it brings to the debate on wealth inequality in human history.
Are mass violence and catastrophes the only forces that can seriously decrease economic inequality? To judge by thousands of years of history, the answer is yes. Tracing the global history of inequality from the Stone Age to today, Walter Scheidel shows that it never dies peacefully. The Great Leveler is the first book to chart the crucial role of violent shocks in reducing inequality over the full sweep of human history around the world. The "Four Horsemen" of leveling-mass-mobilization warfare, transformative revolutions, state collapse, and catastrophic plagues-have repeatedly destroyed the fortunes of the rich. Today, the violence that reduced inequality…
I’m a professor of economics at the University of Houston, with a focus on long-run growth and development rather than things like quarterly stock returns. I write a blog on growth economics where I try hard to boil down technical topics to their core intuition, and I’m the co-author of a popular textbook on economic growth.
This is a good book to understand the pervasive existence of “rents” in the economy. From the literal rents that homeowners in popular areas can charge, to the rents that accrue to copyright or patent holders, to the rents earned by firms using regulation to block competition, the authors document all the places in our economy where this restricts innovation. It is ultimately a book asking “what is fair?”.
For years, America has been plagued by slow economic growth and increasing inequality. In The Captured Economy, Brink Lindsey and Steven M. Teles identify a common factor behind these twin ills: breakdowns in democratic governance that allow wealthy special interests to capture the policymaking process for their own benefit. They document the proliferation of regressive regulations that redistribute wealth and income up the economic scale while stifling entrepreneurship and innovation. They also detail the most important cases of regulatory barriers that have worked to shield the powerful from the rigors of competition, thereby inflating their incomes: subsidies for the financial…
I am a few years older than the author and grew up in the suburbs of Boston, three towns away from his childhood home. The childhood he describes completely mirrors my own.
Like McKibben, I have witnessed the same disturbing changes happening in our country over the past 50 years. I, too, have shaken my head in disbelief at the transformations and asked, “How can this be happening?”
McKibben’s fierce curiosity and detailed research explain this change by examining how the definition of patriotism has taken on a different meaning, how the role of religion has waned significantly, especially in younger people’s lives, and how our economic class structure has inverted.
All these changes add up to a major transformation in American culture and values. I could relate to every premise he offered, saying, “Wow, this all makes sense!”
Bill McKibben―award-winning author, activist, educator―is fiercely curious.
“I’m curious about what went so suddenly sour with American patriotism, American faith, and American prosperity.”
Like so many of us, McKibben grew up believing―knowing―that the United States was the greatest country on earth. As a teenager, he cheerfully led American Revolution tours in Lexington, Massachusetts. He sang “Kumbaya” at church. And with the remarkable rise of suburbia, he assumed that all Americans would share in the wealth.
But fifty years later, he finds himself in an increasingly doubtful nation strained by bleak racial…
The fundamental connection between law and economics rules most of the world. This is especially true in romantic relationships, whether the parties realize it or not. Being “Janites” ourselves, in addition to our day jobs of family law professor and economic consultant, we could not help but read Jane Austen and be blown away by her genius understanding of both law and economics. Moreover, the principles she draws out that govern much of her characters’ decision-making are just as applicable today in the world of online dating and Tinder. We hope our book enlightens you on law and economics in new, surprising, and romantic ways.
The world is driven by incentives. Much of economics is not obscure theory but practically understanding how incentives affect decision-making.
Charles Wheelan’s Naked Economicsprovides a solid foundation for understanding how our lives revolve around economics and why understanding economic principles is critically important for evaluating the social and geopolitical world around us.
This book was important in our analysis of Jane Austen’s work, as her use of economic principles in romance is what causes her work to be loved for centuries.
This is a new edition of the best-selling economics book that won't put you to sleep. In our challenging economic climate, this perennial favourite of students and general readers includes commentary on hot topics such as automation, trade and income inequality. Ten years after the financial crisis, Naked Economics examines how policymakers managed the worst economic crisis since the Great Depression.
