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Reading Room
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Book reviews

Career and Family

Women’s Century‑Long Journey toward Equity

Reviewer: Melissa Davies, Chief Economist, Redburn

A renowned economic historian traces women’s journey to close the gender wage gap and sheds new light on the continued struggle to achieve equity between couples at home.

Raising Keynes

A Twenty‑First-Century General Theory

Reviewer: Bridget Rosewell

Back to the future: a heterodox economist rewrites Keynes’s General Theory of Employment, Interest, and Money to serve as the basis for a macroeconomics for the twenty-first century.

The Money Minders

Reviewer: Dame Kate Barker, British Coal Staff Superannuation Scheme

In this book, NIESR director Jagjit Chadha unpacks the world of central banking, explaining in accessible language the analytical techniques, policy toolkits or simple story-telling that they use to understand the economy, to implement monetary policy and to communicate their decisions to key decision-makers and the wider public.

The United States vs. China

The Quest for Global Economic Leadership

Reviewer: Andrew Peaple

In this sweeping and authoritative analysis of the competition for global economic leadership between China and the United States, C. Fred Bergsten warns of the disastrous consequences of hostile confrontation between these two superpowers.

The World in 2050

How to Think About the Future

Reviewer: Ian Harwood

What will the world look like in 2050? How will complex forces of change – demography, the environment, finance, technology and ideas about governance – affect our global society? And how, with so many unknowns, should we think about the future?

Restarting the Future

How to Fix the Intangible Economy

Reviewer: Vicky Pryce

The past two decades have witnessed sluggish economic growth, mounting inequality, dysfunctional competition, and a host of other ills that have left people wondering what has happened to the future they were promised. Restarting the Future reveals how these problems arise from a failure to develop the institutions demanded by an economy now reliant on intangible capital such as ideas, relationships, brands, and knowledge.

Share Power

How ordinary people can change the way that capitalism works – and make money too

Reviewer: Ian Bright

In Share Power, Merryn Somerset Webb, Editor-in-Chief of MoneyWeek, takes us deep into the world of corporate capitalism - from the privatisation of state-owned companies in the 1980s to the financial crash of 2008 and the growth of the modern multinational - to show us how capitalism went wrong and how, with six simple recommendations, every one of us now has the power to make it work for us.

Growth for Good

Reviewer: Ian Bright

From the front lines of economics and policymaking, a compelling case that economic growth is a force for good and a blueprint for enrolling it in the fight against climate change.

Six Faces of Globalization

Who wins, Who Loses, and Why it Matters

Reviewer: William A Allen, NIESR

An essential guide to the intractable public debates about the virtues and vices of economic globalization, cutting through the complexity to reveal the fault lines that divide us and the points of agreement that might bring us together.

Time for Socialism

Dispatches from a World on Fire

Reviewer: Bridget Rosewell

As a correspondent for the French newspaper Le Monde, world-renowned economist Thomas Piketty has documented the rise and fall of Trump, the drama of Brexit, Emmanuel Macron’s ascendance to the French presidency, the unfolding of a global pandemic, and much else besides, always from the perspective of his fight for a more equitable world.

The Asian Financial Crisis

Reviewer: Ian Harwood

The Asian Financial Crisis 1995–98 charts Russell Napier’s personal journey during that crisis as he wrote daily for institutional investors about an increasingly uncertain future. Relying on contemporaneous commentary, it charts the mistakes and successes of investors in the battle for investment survival in Asia from 1995–98.

The Economic Integration of Europe

Reviewer: Vicky Pryce

The Economics of the Stock Market

Reviewer: Sunil Krishnan, Aviva Investors

The current consensus economic model, the neoclassical synthesis, depends on aprioristic assumptions that are shown to be invalid when tested against the data and fails to include finance. In The Economics of the Stock Market, Andrew Smithers proposes a model that is robust when tested, and by including
the impact of the stock market on the economy, overcomes both these defects.

The Voltage Effect

How to make Good Ideas Great and Great Ideas Scale

Reviewer: Ian Bright

Why do some ideas make it big while others fail to take off? According to award-winning behavioural economist John List, the answer comes down to a single question: Can the idea scale?

The New Economics

A Manifesto

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

In 1517, Martin Luther nailed his 95 theses to the wall of Wittenberg church. He argued that the Church’s internally consistent but absurd doctrines had pickled into a dogmatic structure of untruth. It was time for a Reformation. Half a millennium later, Steve Keen argues that economics needs its own Reformation.

The Resilient Society

Reviewer: Dame Kate Barker, British Coal Staff Superannuation Scheme

The Resilient Society, by Princeton University economist Markus Brunnermeier, describes how individuals, institutions, and nations can successfully navigate a dynamic, globalized economy filled with unknown risks.

Remembering and Learning from Financial Crises

Reviewer: Rosemary Connell

This collection of contributions from 12 authors covers financial crises in Western Europe and USA from the early nineteenth century to the late twentieth century.

Supercharge Me

Net Zero Faster

Reviewer: Gregory Smith

Supercharge Me is grounded in relentless realism about how governments, businesses and individuals actually behave. It draws lessons from what has worked so far: positive incentives and smart regulations. Through a series of fast-paced dialogues, the authors introduce practical ideas for change that will embolden activists, reinvigorate the disheartened, and reframe the climate crisis as an opportunity.

Strategic Risk Management

Designing Portfolios and Managing Risk

Reviewer: Dame Kate Barker, NED, Man Group plc

In Strategic Risk Management: Designing Portfolios and Managing Risk, Campbell R. Harvey, Sandy Rattray, and Otto Van Hemert deliver a reimagining of the risk management process.

Adapting to Climate Change

Markets and the Management of an Uncertain Future

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

This book considers how individual economic choices in response to climate change will transform the larger economy.

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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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