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      • Annual Conference
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  • What's on
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Reading Room
  • Book reviews
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Book reviews

First Principles

Five Keys to Restoring America’s Prosperity

Reviewer: Stephen Hannah, Lecturer in Economics, NYU in London

This is a pre-election, pro-Republican polemic with a glowing recommendation from Congressman Ryan. So you should not be surprised by the content and its tone. However, you may well be disappointed, even saddened, by the argument.

Lost Causes

The Retreat from Classical Liberalism

Reviewer: Dame Kate Barker

Lost Causes is Professsor Lal's collected thoughts on the state of the United Kingdom today, taken from pamphlets compiled for various UK think tanks from the late 1980s.

Good Strategy; Bad Strategy

The Difference and why it Matters

Reviewer: Rebecca Harding

Even though everyone is talking about it, there is no concept in business today more muddled than 'strategy'. Richard Rumelt, described by McKinsey Quarterly as 'a giant in the field of strategy' and 'strategy's strategist', tackles this problem head-on in a jargon-free explanation of how to develop and take action on strategy, in business, politics and beyond

How Do We Fix This Mess?

The Economic Price of Having It All And The Route to Lasting Prosperity

Reviewer: Diane Coyle, Enlightenment Economics

In Robert Peston's book he explains in his characteristically straightforward way how the world got itself into the current economic mess - and how we might get out of it.

'How do we fix this mess? I don't know. But don't stop reading now. Perhaps if we have a clearer understanding of what went wrong, we'll have a better idea of what needs to be done. This book is a map of what needs to be fixed.'

New Ideas on Development After The Financial Crisis

Reviewer: Mark Henstridge, Chief Economist, Oxford Policy Management

Editors Nancy Birdsall and Francis Fukuyama bring together leading scholars to explore the implications of the global financial crisis on existing and future development strategies.

Whats the Use of Economics?

Teaching the Dismal Science After the Crisis

Reviewer: Peter Sinclair, Emeritus Professor of Economics, University of Birmingham

With the financial crisis continuing after five years, people are questioning why economics failed either to send an adequate early warning ahead of the crisis or to resolve it quickly. The gap between important real-world problems and the workhorse mathematical model-based economics being taught to students has become a chasm. This book examines what economists need to bring to their jobs, and the way in which education in universities could be improved to fit graduates better for the real world.

…And the Pursuit of Happiness

Reviewer: Henry Stuart, Happy Computers

In spite of general reductions in government spending, the prime minister has found room in the government's budget to spend money on a major survey of what makes the British people happy.Tthis monograph provides a substantial challenge to those who want to put the explicit pursuit of well-being at the heart of government policy.

Economics After the Crisis

Reviewer: Bill Allen, Formerly Deputy Director, Bank of England

The global economic crisis of 2008–2009 seemed a crisis not just of economic performance but also of the system's underlying political ideology and economic theory. But a second Great Depression was averted, and the radical shift to New Deal-like economic policies predicted by some never took place. Perhaps the correct response to the crisis is simply careful management of the macroeconomic challenges as we recover, combined with reform of financial regulation to prevent a recurrence. In Economics After the Crisis, Adair Turner offers a strong counterargument to this somewhat complacent view.

Paper Money Collapse

The Folly of Elastic Money and the Coming Monetary Breakdown

Reviewer: Dave Birch, Consult Hyperion

Drawing upon novel new research, Paper Money Collapse conclusively illustrates why paper money systems—those based on an elastic and constantly expanding supply of money as opposed to a system of commodity money of essentially fixed supply—are inherently unstable and why they must lead to economic disintegration.

Exceptional People

How Migration Shaped Our World and Will Define Our Future

Reviewer: Chola Mukanga, The Zambian Economist

In Exceptional People, the authors carry out an even-handed assessment of the costs and benefits of international migration. They find that all involved - the countries that receive immigrants, those that send them, and immigrants most of all - prosper when movement across borders is allowed without hindrance.

The Evolution of Great World Cities

Reviewer: Professor Henry Overman, London School of Economics

The Evolution of Great World Cities unfolds through the tales of several urban centres - including Venice, Amsterdam, London, and New York City - at key junctures in their histories.

Environmental Economics

A Very Short Introduction

Reviewer: Benedikt Koehler

In this Very Short Introduction, Stephen Smith discusses environmental issues including pollution control, reducing environmental damage, and global climate change policies.

Paper Promises

Money Debt and the New World Order

Reviewer: John Whitley, Senior Global Economist, Unilever

In this fascinating look at money through the ages - including our own unstable future - award-winning financial journalist Philip Coggan examines the flawed structure of the global finance systems as they exist today, and asks, with deeper imbalances that the world is currently facing, what's actually at stake.

Beyond Our Means

Why America Spends While the Rest of the World Saves

Reviewer: Stephen King, Group Chief Economist, HSBC

Professor Garon offers brilliant scholarship, engaging reading, and some practical insights for dealing with our current financial crisis worldwide.

Keynes Hayek

The Clash That Defined Modern Economics

Reviewer: Diane Coyle, Enlightenment Economics

From their first face-to-face encounter to the heated arguments between their ardent disciples, Nicholas Wapshott unearths the contemporary relevance of Keynes and Hayek, as present-day arguments over the virtues of the free market and government intervention rage with the same ferocity as they did in the 1930s.

Safe as Houses?

A Historical Analysis of Property Prices

Reviewer: Ian Harwood, Global Economist, Redburn

Neil Monnery looks at house prices over the long term in several countries - including the UK, the US, France, Holland, Norway, Germany and Australia – to find out what has happened to house prices and why.

Expectations, Employment and Prices

Reviewer: Diane Coyle, Enlightenment Economics

The book fills in logical gaps that were missing from Keynes' General Theory of Employment Interest and Money by reconciling some of its key ideas with modern economic theory.

The Heart of Teaching Economics

Lessons from Leading Minds

Reviewer: Wayne Geerling, La Trobe University

This unique monograph comprises a collection of interviews conducted face-to-face with leading economists at universities throughout the United States.

The Fish Rots from the Head

Developing Effective Board Directors

Reviewer: Vicky Pryce

As a Chinese proverb says 'The fish rots from the head' and so it is with businesses and other organisations - the buck starts and stops in the boardroom. This third edition of Bob Garratt'sbestselling book that highlights the importance of effectivecorporate governance has been extensively updated following the corporate scandals of the early 2000s - Enron, WorldCom, Tyco - and the abysmal boardroom standards that the recent credit crunch and ensuing global financial crisis brought to light.

The Bank of England 1950s to 1979

Reviewer: Bill Allen, Formerly Deputy Director, Bank of England

This history of the Bank of England takes its story from the 1950s to the end of the 1970s.

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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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