We teamed up about fifteen years ago around a common interest in the political economy of North Korea; Haggard is a political scientist, Noland an economist. Both of us had spent our careers focused on Asia but looking largely at the capitalist successes: Japan and the newly industrializing countries of Korea, Taiwan, and Southeast Asia. But what about the anomalous cases in the region that did not get on the growth train? The “Asian miracle” was hardly ubiquitous…what had gone wrong? North Korea was clearly the biggest puzzle, and we ended up researching and writing on the famine, refugees, and the complexities of international sanctions.
For those with some economics background and willing to do their homework, Kim’s book is the state of the art. He has sorted through all the shards of data out there—on prices, output, and trade--and pulled them together into a compelling mosaic. Of particular interest is his discussion of possible transition paths--were the regime to change course--as well as the possibility that the system might come crashing down altogether.
North Korea is one of the most closed and secretive societies in the world. Despite a high level of interest from the outside world, we have very little detailed information about how the country functions economically. In this valuable book for both the academic and policy-making circles, Byung-Yeon Kim offers the most comprehensive and systematic analysis of the present day North Korean economy in the context of economic systems and transition economics. It addresses what is really happening in the North Korean economy, why it has previously failed, and how the country can make the transition to a market economy.…
I’m fascinated by systems of thought and very interested in understanding how we can improve our ability to create a better society for all. I think the past makes a good laboratory for investigating these kinds of questions. I got interested in early modern economic theory while researching the English East India Company for my dissertation in the sociology department of Columbia University, which was a great place for historical and computational sociology. I now teach economic sociology and theory as a professor at Yale University, another institution with amazing strengths in history, data science, and computational methods.
This is a detailed and rigorous history of the relationship between economic thought and state policy in twentieth-century US history. Berman ultimately concludes that economic theory has negatively impacted the democratic party. I disagree and would say that economic theory has given the party new tools with which to govern more judiciously. Either way the institutional story about the increasing influence of economics is fascinating and compelling.
The story of how economic reasoning came to dominate Washington between the 1960s and 1980s-and why it continues to constrain progressive ambitions today
For decades, Democratic politicians have frustrated progressives by tinkering around the margins of policy while shying away from truly ambitious change. What happened to bold political vision on the left, and what shrunk the very horizons of possibility? In Thinking like an Economist, Elizabeth Popp Berman tells the story of how a distinctive way of thinking-an "economic style of reasoning"-became dominant in Washington between the 1960s and the 1980s and how it continues to dramatically narrow debates…
I consider FDR the greatest of all presidents for leading America with distinction in the domestic crisis of the Great Depression and the foreign crisis of World War 2 and creating the modern presidency that survives today in the essential form he established. I have written books on Dwight Eisenhower, Richard Nixon, and Ronald Reagan during fifty years as a US history professor in UK universities. I always intended to write a book about how FDR reinvented the presidency that these Republicans inherited, something I finally did in ‘retirement’. My five chosen books explain the challenging times he faced and the leadership skills he displayed in meeting them.
This is a vivid retelling of the US production miracles that enabled America and its Allies to win World War 2. Instead of overwhelming readers with dry numbers, the book comes alive by focusing on the human dimension. Klein credits FDR for understanding that the US had to become the ‘Arsenal of Democracy’ to win the war, while lionizing innovative industrialists and engineers who turned this vision into reality and the federal officials who cleared the way for their operations to succeed. He also highlights the struggles of the millions who endured disruption and discomfort in migrating to undertake war work far from their home regions. This is essential reading to understand the home front in America’s greatest foreign war.
The colossal scale of World War II required a mobilization effort greater than anything attempted in all of the world's history. The United States had to fight a war across two oceans and three continents--and to do so, it had to build and equip a military that was all but nonexistent before the war began. Never in the nation's history did it have to create, outfit, transport, and supply huge armies, navies, and air forces on so many distant and disparate fronts.
The Axis powers might have fielded better-trained soldiers, better weapons, and better tanks and aircraft, but they could…
My interest in demography began when I saw rapid demographic change taking place before my eyes in London, and when I noted the different fertility choices of friends and relations and started to put the pieces together and to understand how demography shapes our changing reality. I have published three books on the subject—the first, a version of my PhD thesis, the second and third captured below—and have broadcast and written articles for the press extensively on these topics.
Simon was something of a prophet who felt that he had a contrarian worldview that the world needed to know about. His basic idea is that the human brain is the ultimate resource and that with the right application and opportunity, humans can solve so many of the serious problems that environmentalism and the limits on resources throw at us. I cannot say that I agree with Simon on everything, nor that his optimism is apt in every situation, but his is an exciting and bracing can-do-ism that sees the best in humanity once it is freed to fulfill its potential.
Arguing that the ultimate resource is the human imagination coupled to the human spirit, Julian Simon led a vigorous challenge to conventional beliefs about scarcity of energy and natural resources, pollution of the environment, the effects of immigration, and the "perils of overpopulation." The comprehensive data, careful quantitative research, and economic logic contained in the first edition of The Ultimate Resource questioned widely held professional judgments about the threat of overpopulation, and Simon's celebrated bet with Paul Ehrlich about resource prices in the 1980s enhanced the public attention--both pro and con--that greeted this controversial book. Now Princeton University Press presents…
I'm a historian of global capitalism and South Asia, writing about corporations as they are and how they could be. I've looked at India with the eyes of an outsider, drawing on my experiences growing up in 1990s Eastern Europe during a time of political upheaval and shock privatizations as the old communist order crumbled. Having witnessed the rise of a new class of monopolists and oligarchs in its stead, I became interested in the many different ways capitalists exercise power in society over time and around the world, and how we as ordinary citizens relate to them. I'm now interested in thinkers, activists, and entrepreneurs who have tried to experiment with alternatives.
We start at the top with the Indian nation-state itself and how it has been turned into a brand. What lies behind the narrative of “emerging” economies as attractive destinations for foreign investors? Where does it come from and who does it serve? Establishing a persuasive link between identity politics, populist nationalism, and global capital, Ravinder Kaur offers a model of critical interdisciplinary scholarship on the present. From the World Economic Forum in Davos to the corridors of power in Delhi, Kaur’s interviews shed light on how Indian elites think of themselves in the world (and how this differs radically from the postcolonial dream of non-alignment and social democracy). The close reading of the “Incredible India” publicity campaign is especially innovative, bringing together visual analysis and political economy.
The first book that examines India's mega-publicity campaigns to theorize the global transformation of the nation-state into an attractive investment destination.
The early twenty-first century was an optimistic moment of global futures-making. The chief narrative was the emergence of the BRICS nations-leading stars in the great spectacle of capitalist growth stories, branded afresh as resource-rich hubs of untapped talent and potential, and newly opened up for foreign investments. The old third-world nations were rapidly embracing the script of unbridled capitalism in the hope of arriving on the world stage. If the tantalizing…
I hold a doctorate in political science and am an expert on Algeria. I was a senior scholar at Carnegie for ten years before I joined the European Union Institute for Security Studies (EUISS), the EU's official think tank. I was born in Algeria, where I grew up. When I was fourteen, between 22-23 September 1997 the massacre of Bentalha took place while I was living in Algeria, and I became obsessed with that massacre. This obsession led me ten years later to write a Ph.D. on that bloody page of Algerian history, political violence, and jihadism. Eventually, my expertise encompassed all of Algeria's political, social, and economic developments.
In this book, Lowi examines why Algeria's domestic political economy disintegrated in the mid-1980s and how the regime eventually reclaimed power and hegemony. Miriam Lowi discusses the significance of leadership decisions for political outcomes and extends her theory to explain the diversity in stability among oil-exporting states in response to economic shocks. Comparing Algeria to Iran, Iraq, Indonesia, and Saudi Arabia, she inquires as to why certain regimes fail and endure regime change while others remain stable or are able to regain stability after a time of turmoil.
How can we make sense of Algeria's post-colonial experience - the tragedy of unfulfilled expectations, the descent into violence, the resurgence of the state? Oil Wealth and the Poverty of Politics explains why Algeria's domestic political economy unravelled from the mid-1980s, and how the regime eventually managed to regain power and hegemony. Miriam Lowi argues the importance of leadership decisions for political outcomes, and extends the argument to explain the variation in stability in oil-exporting states following economic shocks. Comparing Algeria with Iran, Iraq, Indonesia and Saudi Arabia, she asks why some states break down and undergo regime change, while…
I'm addicted to discovering what lies within the unknown. The biggest mystery, I believe, that baffles us today is not necessarily what lies at the edge of the universe but what lives within this one here. I enjoy attempting to solve large problems and if I can’t compute a result at least understand what the problem suggests. In the realm of the unknown, I'm an expert of nothing. In hours of research and reading and writing, one comes to a point in their process of learning with the realization that it does not matter how much one learns, there will always be that much more, logarithmically multiplied exponentially by the rate of acceleration, to learn.
Since the days of Ronald Regan, trickle-down economic theory has been a pipe dream of the uneducated and I don’t even have a degree. Mark Mattern does a great job inverting the theory of trickle-down in explaining that indeed wealth piles from the bottom up not drip down from the top. I recommend reading this book before you read mine for the simple fact that instead of inverted trickle-down theory, I describe how water moves like a stream through an ecosystem. If it is not properly pitched from the mountaintop to the valley, with proper displacement of creatures below, and flow rate through the foothills, we are inevitably left dependent on drinking from a wasteland.
One of the most durable myths of US political economy is that we take from the rich and give to the poor - penalising the rich for their hard work and rewarding the undeserving. Mark Mattern turns that story on its head. Documenting the everyday, institutionalised ways that income and wealth are transferred upward in the United States, Mattern shows how in fact the bottom subsidises the top.
His provocative analysis, describing in detail the processes and policy choices that systematically favour the rich, is both a tale of "Robin Hood in reverse" and a call for a more equitable,…
I'm a historian of global capitalism and South Asia, writing about corporations as they are and how they could be. I've looked at India with the eyes of an outsider, drawing on my experiences growing up in 1990s Eastern Europe during a time of political upheaval and shock privatizations as the old communist order crumbled. Having witnessed the rise of a new class of monopolists and oligarchs in its stead, I became interested in the many different ways capitalists exercise power in society over time and around the world, and how we as ordinary citizens relate to them. I'm now interested in thinkers, activists, and entrepreneurs who have tried to experiment with alternatives.
A key aspect of the “India story,” as described on the macro level by Kaur, is entrepreneurship and the ethos of jugaad(innovating by making do). The idea of India as the new Silicon Valley has captured the global imagination, while the creative use of technology promises to solve longstanding social and economic problems within the country. Lilly Irani’s study questions the dominant framework of “entrepreneurial citizenship” among the new middle classes and the centrality of design practice to India’s current development model. This is another stellar example of interdisciplinary scholarship, based on ethnographic fieldwork at a Delhi design studio and drawing on the author’s background in computer science.
A vivid look at how India has developed the idea of entrepreneurial citizens as leaders mobilizing society and how people try to live that promise
Can entrepreneurs develop a nation, serve the poor, and pursue creative freedom, all while generating economic value? In Chasing Innovation, Lilly Irani shows the contradictions that arise as designers, engineers, and businesspeople frame development and governance as opportunities to innovate. Irani documents the rise of "entrepreneurial citizenship" in India over the past seventy years, demonstrating how a global ethos of development through design has come to shape state policy, economic investment, and the middle class…
My interest in political economy dates back to my student years where I combined the study of the history of political economy, economics, and philosophy. Whether apologists or critics of capitalism, both groups appreciate the centrality of economic exchange among people who live in communities where absolute autonomy and self-sufficiency are unattainable. My concern with reframing political economy is also informed by the all too hushed scandal of capitalism, namely, the reliance on slavery for the accumulation of wealth for more than a century after the establishment of the USA. The reckoning with this atrocity animates much of my present thinking about political economy in general and capitalism in particular.
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.
A bold indictment of some of our most accepted mainstream economic theories—why they’re wrong, and how they’ve been harming America and the world.
Budget deficits are bad. A strong dollar is good. Controlling inflation is paramount. Pay reflects greater worker skills. A deregulated free market is fair and effective. Theories like these have become mantras among American economists both liberal and conservative over recent decades. Validated originally by patron saints like Milton Friedman, they’ve assumed the status of self-evident truths across much of the mainstream. Jeff Madrick, former columnist for The New York Times and Harper’s, argues compellingly that a…
I studied Mathematics – the art of solving a problem by making it as general as possible, then attacking it with a combination of different techniques. By profession, I am a technologist, but the problem that interested me wasn’t technical – I wanted to know why, when most people are basically well-meaning, the world was in such a mess! Early on in my career, I came to believe that better collaboration was part of the answer. Later, I saw how you also needed the right kind of communities. Along the way, I’ve learned a lot about psychology, biology, systems theory, learning theory, anthropology, history, management, economics, finance, and more. I’m still learning.
It always seemed to me that public ownership could be a way to unlock better use of resources, and didn’t believe it was the same as Soviet-style economic planning. But I didn’t really know what it did mean! So, I bought Hanna’s book as soon as it came out in 2018, and wasn’t disappointed. He is Research Director at the Democracy Collaborative, and shows by example how public ownership comes in many varieties. He debunks the myths about it being worse than corporate or private ownership, showing how it can be more efficient and effective. Read this to see how public ownership in one form or another is a sensible and pragmatic option that can help address the really big social challenges such as inequality, sustainability, and fragility.
Public ownership is more widespread and popular in the United States than is commonly understood. This book is the most comprehensive and up-to-date analysis of the scope and scale of U.S. public ownership, debunking frequent misconceptions about the alleged inefficiency and underperformance of public ownership and arguing that it offers powerful, flexible solutions to current problems of inequality, instability, and unsustainability- explaining why after decades of privatization it is making a comeback, including in the agenda of Jeremy Corbyn's Labour Party in Britain. Hanna offers a vision of deploying new forms of democratized public ownership broadly, across multiple sectors, as…
