I've been fascinated by city life since I studied Geography at high school. After twenty five years of teaching and researching urban geography, I am Professor of Urban Futures at a UK university. I now have a better sense of the challenges we face and what we can do about them. I spend my time supporting activists, campaigners, students, policymakers, and politicians about the urgency for change and what kind of ideas and examples they can use to tackle what I call the triple emergencies of climate breakdown, social inequality, and nature loss.
This is one of the defining books that has helped a generation of researchers name an important tendency – that capitalism isn’t all-dominant and there are always alternatives to it.
I use this book often with campaigners and city policymakers to help them understand that if you really take a closer look at our modern-day economy you will see all sorts of activity – co-operatives, family labour, barter, gift exchange.
I love the idea of postcapitalism as it really asks us to think about what should, or ought to, come next. This broader understanding of our economies as diverse entities opens up the possibility of supercharging more community-focused economies.
Is there life after capitalism? In this creatively argued follow-up to their book The End of Capitalism (As We Knew It), J. K. Gibson-Graham offer already existing alternatives to a global capitalist order and outline strategies for building alternative economies.
A Postcapitalist Politics reveals a prolific landscape of economic diversity-one that is not exclusively or predominantly capitalist-and examines the challenges and successes of alternative economic interventions. Gibson-Graham bring together political economy, feminist poststructuralism, and economic activism to foreground the ethical decisions, as opposed to structural imperatives, that construct economic "development" pathways. Marshalling empirical evidence from local economic projects and action…
I developed a strong interest in current events, especially politics, in high school. What the government does, or does not do, struck me as a vital piece of the puzzle in trying to explain why things are the way they are. That soon led, however, to seeing how the past continues to influence the present. No decade is more important than the 1960s for understanding our current political climate.
Presidents matter, but they do not have magical powers.
Zelizer persuasively recounts how the Great Society reforms of the 1960s would not have been passed without the work of legislators whose names are largely forgotten today. Democrats achieved many of their goals, but Zelizer also surveys how they faced stern resistance from Republicans on Capitol Hill. A window of opportunity to transform the nation opened in the mid-1960s, and then soon closed.
A majestic big-picture account of the Great Society and the forces that shaped it, from Lyndon Johnson and members of Congress to the civil rights movement and the media
Between November 1963, when he became president, and November 1966, when his party was routed in the midterm elections, Lyndon Johnson spearheaded the most transformative agenda in American political history since the New Deal, one whose ambition and achievement have had no parallel since. In just three years, Johnson drove the passage of the Civil Rights and Voting Rights Acts; the War on Poverty program; Medicare and Medicaid; the National Endowments…
When I was contemplating a topic for my PhD thesis, it struck me powerfully that American economics was severely under-studied, and that this applied even more so to those associated with “American institutional economics.” My research soon indicated to me that the literature that did exist was lacking in coverage and badly misleading. During my research in archives, I uncovered some real gems—just one example was the archives of the Robert Bookings Graduate School, an institution largely forgotten, but famous at the time. This was exciting and inspired me to continue on to provide a major re-evaluation of American economics in the interwar period.
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.
In Illiberal Reformers, Thomas Leonard reexamines the economic progressives whose ideas and reform agenda underwrote the Progressive Era dismantling of laissez-faire and the creation of the regulatory welfare state, which, they believed, would humanize and rationalize industrial capitalism. But not for all. Academic social scientists such as Richard T. Ely, John R. Commons, and Edward A. Ross, together with their reform allies in social work, charity, journalism, and law, played a pivotal role in establishing minimum-wage and maximum-hours laws, workmen's compensation, antitrust regulation, and other hallmarks of the regulatory welfare state. But even as they offered uplift to some, economic…
Long before I studied economics, I remember being told in church that “money is the root of all evil.” Much later, when I was interviewing for my first professor-level position, I remember one of the interviewers saying, “I suppose everyone is interested in money.” We are not talking here about a fixation on accumulating money, but rather understanding the profound impact monetary policy has upon everyone in society. These readings show how pervasive the effects of bad monetary policy can be and how important it is to keep track of what is going on. Start with the first two chapters of Friedman’s Money Mischief and see if you can stop!
This book not only offers an authoritative account of what the Federal Reserve has been up to since its founding in 1913 but also the rationale for why they did what they did.
One particularly telling observation is made with respect to Arthur Burns, who was the Federal Reserve Chair during 1970-1978: “Burns always attributed [inflation] to nonmonetary sources.” Paul Volcker’s actions during 1979-1987 demonstrated how the restoration of monetary stability was a sine quo non for ending the 1970s inflationary spiral. No matter how necessary the Federal Reserve’s later massive 2020 monetary expansion may have been, it was imperative that this bulge in money also be unwound.
A worrying element, however, is that, in the midst of all this, none of today’s Federal Reserve policymakers “ever mentions money.”
An illuminating history of the Fed from its founding through the tumult of 2020.
In The Federal Reserve: A New History, Robert L. Hetzel draws on more than forty years of experience as an economist in the central bank to trace the influences of the Fed on the American economy. Comparing periods in which the Fed stabilized the economy to those when it did the opposite, Hetzel tells the story of a century-long pursuit of monetary rules capable of providing for economic stability.
Recast through this lens and enriched with archival materials, Hetzel's sweeping history offers a new understanding of…
I have worked all my adult life trying to understand the implications of the insight that the economy depends on the environment for all its materials, energy, and assimilation of all its wastes. What began as academic curiosity developed into concern about the urgency of a transition to a post-growth economy, especially in rich countries. Justice requires that those most responsible for ecological overshoot reduce their demands on nature furthest and fastest so that those least responsible but suffering the worst consequences can also flourish. I hope you find the books I have chosen will help you take informed action to bring about the transition to a post-growth society.
It's been said that imagining the end of the world is easier than imagining the end of capitalism. Sadly, I think this is true. The ideology of capitalism, cultivated and promoted by marketing, media, governments, and many international institutions such as the World Bank and the International Monetary Fund, makes it difficult to imagine alternatives to capitalism.
I learned much from Wolfgang Streeck, who reminds us of the multiple stresses and strains that, separately and together, could result in capitalism's demise. I found this both worrying and empowering.
If we don't think outside the capitalist box, we will unconsciously limit the scope of change needed to confront capitalism's abject deficiencies. This will frustrate an intentional transition to a post-growth society.
After years of ill health, capitalism is now in a critical condition. Growth has given way to stagnation; inequality is leading to instability; and confidence in the money economy has all but evaporated.
In How Will Capitalism End?, the acclaimed analyst of contemporary politics and economics Wolfgang Streeck argues that the world is about to change. The marriage between democracy and capitalism, ill-suited partners brought together in the shadow of World War Two, is coming to an end. The regulatory institutions that once restrained the financial sector's excesses have collapsed and, after the final victory of capitalism at the end…
I grew up in Brooklyn in a family that often faced financial difficulties and started working in my early teens in my father’s grocery store. These experiences made me painfully aware of the great disparities in education, security, material well-being, and opportunity in our society. I saw how these inequalities caused some people to become cynical, resigned, or indifferent—while others became determined to overcome them. I became fascinated by them. I felt that if I wanted to live in a more just and productive society, I first had to understand how it worked. My recommended books inspired me further and helped me to gain that understanding.
This is the first of four book recommendations that may not be as inspirational as The Grapes of Wrath, but which make up for that by providing real-world information that can be useful to people trying to improve our world. This book shows how fresh thinking about economics can help solve some of the world’s most intractable problems. Innovative research, careful observation, and plain common sense enable these two Nobel Prize-winning MIT economists to upend a lot of conventional wisdom and develop interesting and compelling policy proposals, which they discuss in a particularly accessible way.
The winners of the Nobel Prize show how economics, when done right, can help us solve the thorniest social and political problems of our day.
Figuring out how to deal with today's critical economic problems is perhaps the great challenge of our time. Much greater than space travel or perhaps even the next revolutionary medical breakthrough, what is at stake is the whole idea of the good life as we have known it.
Immigration and inequality, globalization and technological disruption, slowing growth and accelerating climate change--these are sources of great anxiety across the world, from New Delhi and Dakar to…
Like many people, I am deeply troubled by the death and destruction from violent conflict. When I began my graduate work in economics at Cornell University, I was allowed to apply my economics learning to the problem of war. When I began teaching at Holy Cross College, my colleagues encouraged me to offer courses on the economics of war and peace. After many years of teaching, I compiled Principles of Conflict Economics (with John Carter) to serve as a textbook on economic aspects of conflict. I hope the book might encourage other economics professors and students to learn more about war and how to resolve conflicts nonviolently.
I especially like how this book powerfully demonstrates that economists should care deeply about violent conflicts because of the severe harms that violence inflicts on economies (and ultimately people) in both the short- and long-run.
The book also persuasively shows that peace advocates should seriously consider economics in their work because conflict prevention must get the economic policies right to avoid the outbreak (or renewal) of violence.
I felt that the book succeeded wonderfully as a primer by explaining important economic concepts in layperson terms, applying economic concepts to violence and peace issues across a wide range of countries (including in several mini case studies), and highlighting economics policies that promote long-term growth and development, macroeconomic stability, and stable peace.
Creating sound economic policy and a stable macroeconomic framework is essential to societies recovering from violent conflict, yet few practitioners have the background needed to apply economic concepts effectively. To provide practitioners with a concise but broad overview of macroeconomic fundamentals as they touch on violence afflicted states, Brauer and Dunne have created Peace Economics. Filling a gap in the literature on peace design from an economic perspective, Peace Economics extends beyond economic principles into the wider realm of social reconstitution, social contract, and social capital in the hopes of helping practitioners build a more stable peace. Peace Economics is…
Long before I studied economics, I remember being told in church that “money is the root of all evil.” Much later, when I was interviewing for my first professor-level position, I remember one of the interviewers saying, “I suppose everyone is interested in money.” We are not talking here about a fixation on accumulating money, but rather understanding the profound impact monetary policy has upon everyone in society. These readings show how pervasive the effects of bad monetary policy can be and how important it is to keep track of what is going on. Start with the first two chapters of Friedman’s Money Mischief and see if you can stop!
The enduring impact of Milton Friedman and his writings is ably captured in this volume.
Part II focuses on his monetary contributions and relates his writings to the policy actions of the Federal Reserve and many other recent and older episodes. Among these chapters, James Lothian offers a particularly compelling account of not only the evolution of Friedman’s work but also its impact on those around him. Eugene Lerner connects his Friedman-inspired early Civil War research to monetary developments after the global financial crisis in 2008.
Nobel Prize winner Robert Lucas makes a particularly revealing personal observation: “Friedman has no interest at all in what side you are on. You are expected to articulate a view of the effects of policies. How will it work? Who gains? Who loses?”
Milton Friedman is widely regarded as one of the most influential economists of the twentieth century. Although he made many important contributions to both economic theory and policy - most clearly demonstrated by his development of and support for monetarism - he was also active in various spheres of public policy, where he more often than not pursued his championing of the free market and liberty.
This volume assesses the importance of the full range of Friedman's ideas, from his work on methodology in economics, his highly innovative consumption theory, and his extensive research on monetary economics, to his views…
Rich Weiner co-edited this featured volume with Francesca Forno. He is a political sociologist with a strong foundation in the history of political and social thought. He has served for twenty-two years as dean of the faculty of arts and sciences. His focus has been on non-statist political organizations and social movements with a perspective of middle-range theorizing enriched by three generations of Frankfurt School critical theory of society.
Countering a drifting away from an appreciation of the demos, the book encourages us to build a democratic constitutional political economy that renews traditions of egalitarianism and social rights rather than the recent neoliberalism’s imagined market-based orientation of freedom alone.
I like the way the book revives the American constitutional tradition of discourse emphasizing how constraint of the concentration of wealth is necessary to preserve a democratic republic.
A bold call to reclaim an American tradition that argues the Constitution imposes a duty on government to fight oligarchy and ensure broadly shared wealth.
Oligarchy is a threat to the American republic. When too much economic and political power is concentrated in too few hands, we risk losing the "republican form of government" the Constitution requires. Today, courts enforce the Constitution as if it had almost nothing to say about this threat. But as Joseph Fishkin and William Forbath show in this revolutionary retelling of constitutional history, a commitment to prevent oligarchy once stood at the center of a…
“A provocative read...There are few tomes that coherently map such broad economic histories as well as Mr. Dalio’s. Perhaps more unusually, Mr. Dalio has managed to identify metrics from that history that can be applied to understand today.” —Andrew Ross Sorkin, The New York Times
From legendary investor Ray Dalio, author of the #1 New York Times bestseller Principles, who has spent half a century studying global economies and markets, Principles for Dealing with the Changing World Order examines history’s most turbulent economic and political periods to reveal why the times ahead will likely be radically…
