From Pietra's list on economics and globalization.
Zingales is a brilliant academic economist, but this book leads the reader with both head and heart. Zingales is concerned that the US is on a path to similarities with his native Italy, where markets and politics are both corrupted by cronyism and nepotism. The book’s appeal is that Zingales's compelling argument cannot be put in a left or right box. He lays out evidence to suggest that more open competition will address both the inequality concerns of liberals, as well as the free market priorities of conservatives. Today, Zingales seems to suggest, we have the worst of both worlds.
Why should I read it?
What is this book about?
Born in Italy, University of Chicago economist Luigi Zingales witnessed firsthand the consequences of high inflation and unemployment--paired with rampant nepotism and cronyism--on a country's economy. This experience profoundly shaped his professional interests, and in 1988 he arrived in the United States, armed with a political passion and the belief that economists should not merely interpret the world, but should change it for the better. In A Capitalism for the People, Zingales makes a forceful, philosophical, and at times personal argument that the roots of American capitalism are dying, and that the result is a drift toward the more corrupt…