Beyond Brexit: A Programme for UK Reform
Reviewer: Neville R Norman, University of Melbourne
The National Institute of Economic and Social Research asked Llewellyn Consulting and Gatehouse Advisory Partners to commission a special collection of papers on the problems faced by Britain that go beyond Brexit per se for the 250th issue of its quarterly Review. The papers under the auspices of the newly established Policy Reform Group provide an agenda for the reform of the British political, economic and administrative landscape that will help secure a more robust future for the peoples of these islands.
Evolution or revolution:
Rethinking macroeconomic policy after the Great Recession
Speaker: James Smith, Resolution Foundation
Leading economists discuss post-financial crisis policy dilemmas, including the dangers of complacency in a period of relative stability. The Great Depression led to the Keynesian revolution and dramatic shifts in macroeconomic theory and macroeconomic policy. Similarly, the stagflation of the 1970s led to the adoption of the natural rate hypothesis and to a major reassessment of the role of macroeconomic policy. Should the financial crisis and the Great Recession lead to yet another major reassessment, to another intellectual revolution? Will it? If so, what form should it, or will it, take? These are the questions taken up in this book, in a series of contributions by policymakers and academics.
Heroes or Villains?
The Blair Government reconsidered
Reviewer: Mario Pisani
Tony Blair was the political colossus in Britain for thirteen years, winning three elections in a row for New Labour, two of them by huge majorities. However, since leaving office he has been disowned by many in his own party, with the term 'Blairite' becoming an insult. The election of Jeremy Corbyn as Labour Party leader in 2015 seemed to be, if not an equal, at least an opposite reaction to Blair's long dominance of the centre and left of British politics.
Financial Models and Society:
Villains or Scapegoats?
Reviewer: Lavan Mahadeva, Research Director, CRU International Ltd
Ekaterina Svetlova analyses the various patterns of the application of models in asset management, risk management and financial engineering to demonstrate that their power is far more fragile than widespread criticism would indicate. This unique and stimulating book furthers our understanding of the influence of financial models on markets and society more broadly.
The Technology Trap:
Capital, labour and power in the age of automation
Reviewer: Rosemary Connell
From the Industrial Revolution to the age of artificial intelligence, The Technology Trap takes a sweeping look at the history of technological progress and how it has radically shifted the distribution of economic and political power among society’s members.
Diary of the euro crisis in Cyprus:
Lessons for bank recovery and resolution
Reviewer: William Allen, NIESR
This book tells the story of the euro crisis in Cyprus from the inside. Written by the former Governor of the Central Bank of Cyprus, Panicos Demetriades, who was in office during this turbulent period, this book shows how the crisis unravelled through a series of key events that occurred during his tenure.
Productivity and Bonus Culture
Reviewer: Dame Kate Barker
Living standards in the UK and US are in danger of falling. A decline in growth due to poor productivity and an unfavourable change in demography has weakened the stand of liberal democracy, and voter dissatisfaction is encouraging populist policies that threaten even worse outcomes. Whilst living standards once grew faster than productivity they now grow more slowly, and the working population is no longer growing faster than the population as a whole. To avoid falling living standards the productivity problem must be addressed.
Forecasting: an essential introduction
Reviewer: Kevin Gardiner, Rothschild & Co
In this accessible and engaging guide, David Hendry, Michael Clements, and Jennifer Castle provide a concise and highly intuitive overview of the process and problems of forecasting.
Capitalism in America
Reviewer: Christine Shields
In Capitalism in America, Alan Greenspan, legendary Chair of the Federal Reserve, distils a lifetime of grappling with these questions into a profound assessment of the decisive drivers of the US economy over the course of its history. In partnership with Economist journalist and historian Adrian Wooldridge, he unfolds a tale of vast landscapes, titanic figures and triumphant breakthroughs as well as terrible moral failings.
The AI Economy:
Work, Wealth and Welfare in the Robot Age
Reviewer: Vicky Pryce, CEBR
Tackling the implications of Artificial Intelligence on growth, productivity, inflation and the distribution of wealth and power, THE AI ECONOMY also examines coming changes to the the way we educate, work and spend our leisure time.