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Reading Room
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Book reviews

Economics in America

An Immigrant Economist Explores the Land of Inequality

Reviewer: Bridget Rosewell

When economist Angus Deaton immigrated to the United States from Britain in the early 1980s, he was awed by America’s strengths and shocked by the extraordinary gaps he witnessed between people. Economics in America explains in clear terms how the field of economics addresses the most pressing issues of our time.

A Crash Course on Crises

Macroeconomic Concepts for Run‑ups, Collapses and Recoveries

Reviewer: Anjalika Badalai

A Crash Course on Crises brings together the latest cutting-edge economic research to identify the seeds of these crashes, reveal their triggers and consequences, and explain what policymakers can do about them

Accidental Conflict

America, China and the Clash of False Narratives

Reviewer: Andrew Peaple

In the short span of four years, America and China have entered a trade war, a tech war, and a new Cold War. Outlining the disastrous toll of conflict escalation between China and America, Roach offers a new road map to restoring a mutually advantageous relationship

The Rise of Central Banks

State Power in Financial Capitalism

Reviewer: Ian Bright

A bold history of the rise of central banks, showing how institutions designed to steady the ship of global finance have instead become as destabilizing as they are dominant.

The New China Playbook

Beyond Capitalism and Socialism

Reviewer: Kevin Gardiner, Rothschild & Co/Cardiff Capital Region

Although China’s economy is one of the largest in the world, Western understanding of it is often based on dated assumptions and incomplete information. In The New China Playbook, Keyu Jin burrows deep into the mechanisms of a unique system, taking a nuanced, clear-eyed, and data-based look inside.

Zero Interest Policy and the New Abnormal: a Critique

Reviewer: Kate Barker, Universities Superannuation Scheme

In the 'New Normal' central banks set their interest rate to zero and print money through massive quantitative easing, while finance ministries run huge fiscal deficits. Yet inflation remains minimal. Zero Interest Policy and the New Abnormal explains why.

The Two‑Parent Privilege

how the decline in marriage has increased inequality and lowered social mobility, and what we can do about it.

Reviewer: William A. Allen, National Institute for Economic and Social Research

Based on more than a decade of economic research, including her original work, Kearney shows that a household that includes two married parents ― holding steady at the higher end of the socioeconomic scale, increasingly rare among almost everyone else ― functions as an economic vehicle that advantages some children over others.

Demographics Unravelled

How Demographics Affect and Influence Every Aspect of Economics, Finance and Policy

Reviewer: William A Allen, NIESR

In Demographics Unravelled, renowned Macro-Demographics expert Amlan Roy delivers an insightful and timely exploration of the impact that "people characteristics" have on national economies.

Power and Progress

Our Thousand Year Struggle Over Technology and Prosperity

Reviewer: Leath Al Obaidi, British Business Bank

Power and Progress demonstrates that the path of technology was once - and can again be - brought under control.

The Power of Money

How Governments and Banks Create Money and Help Us All Prosper

Reviewer: Ian Bright

In The Power of Money, economist Paul Sheard distills what money is, how it comes into existence, and how it interacts with the real economy.

The Great Crashes

Lessons from Global Meltdowns and How to Prevent Them

Reviewer: Bridget Rosewell

Since the Wall Street Crash in 1929, financial meltdowns have repeatedly sent shockwaves through our world. From the currency crises of the 1980s and 1990s, to Japan's housing crash, the dot com boom and bust, the global financial meltdown, the euro crisis and the COVID pandemic, The Great Crashes tells the stories of ten of these historic events.

Covid, Brexit and the Anglosphere

Frameworks for Future Trade and Economic Growth

Reviewer: Vicky Pryce

Using historical examples to demonstrate how complex forces interplay into virtuous or vicious cycles of cumulative causation, Simmons and Culkin suggest alternative trade approaches to drive economic growth.

The Fiscal Theory of the Price Level

Reviewer: Melissa Davies, Redburn

John Cochrane aims to make fiscal theory useful as a conceptual framework and modeling tool, and for analyzing history and policy.

Scarcity: A History from the Origins of Capitalism to the Climate Crisis

Reviewer: Kevin Gardiner, Rothschild & Co/Cardiff Capital Region Econ Growth Partnership

A sweeping intellectual history of the concept of economic scarcity―its development across five hundred years of European thought and its decisive role in fostering the climate crisis.

How Economics Can Save the World

Simple Ideas to Solve Our Biggest Problems

Reviewer: Lavan Mahadeva

With a healthy dose of optimism, and packed with stories of economics in everyday situations, Erik Angner demonstrates the methods he and his fellow economists use to help improve our lives and the society in which we live.

Empire of Pain

The Secret History of the Sackler Dynasty

Reviewer: Bridget Rosewell

The Tyranny of Nostalgia

Half a Century of British Economic Decline

Reviewer: Ian Harwood

This book describes and interprets the economic and political history of the past half a century, examining the challenges confronted by successive governments and their chancellors, the policies employed for good or ill, and – running through it all – the desperate search for a panacea that could arrest the nation’s relative decline and return the country to its supposed former glories.

Leveraged

The new economics of debt and financial fragility

Reviewer: William A Allen, NIESR

An authoritative guide to the new economics of our crisis-filled century. Published in collaboration with the Institute for New Economic Thinking.

How to be a Successful Economist

Reviewer: Kate Barker, USS

Exploring the wealth of career opportunities open to those with an interest in economics, Pryce, Ross, Birdi, and Harwood reflect on how students can become successful economists.

Follow the Money

How much does Britain cost?

Reviewer: Rosemary Connell

This is a forensic examination - by the man best placed to do so - of the way the state raises and spends £1 trillion of our money every year.

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Articles reflect the authors’ views which are not necessarily shared by the Society or the Editor. The Editor welcomes comments, ideas and articles on a wide range of applied economics topics and related issues of more general interest.

For Books and Reviews contact:
Ian Harwood
Book Reviews Editor, The Society of Professional Economists
harwoodfive@btinternet.com

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