Recommendations based on "Hoodwinked An Economic Hit Man Reveals Why the Global Economy IMPLODED -- and How to Fix It"
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By Rush Doshi
For more than a century, no US adversary or coalition of adversaries - not Nazi Germany, Imperial Japan, or the Soviet Union - has ever reached sixty percent of US GDP. China is the sole exception, and it is fast emerging into a global superpower that could rival, if not eclipse, the United States. What does China want, does it have a grand strategy to achieve it, and what should the United States do about it?In The Long Game, Rush Doshi draws from a rich base of Chinese primary sources, including decades worth of party documents, leaked materials, memoirs by party leaders, and a careful analysis of China's conduct to provide a history of China's grand strategy since the end of the Cold War. Taking readers behind the Party's closed doors, he uncovers Beijing's long, methodical game to displace America from its hegemonic position in both the East Asia regional and global orders through three sequential "strategies of displacement." Beginning in the 1980s, China focused for two decades on "hiding capabilities and biding time." After the 2008 Global Financial Crisis, it became more assertive regionally, following a policy of "actively accomplishing something." Finally, in the aftermath populist elections of 2016, China shifted to an even more aggressive strategy for undermining US hegemony, adopting the phrase "great changes unseen in century." After charting how China's long game has evolved, Doshi offers a comprehensive yet asymmetric plan for an effective US response. Ironically, his proposed approach takes a page from Beijing's own strategic playbook to undermine China's ambitions and strengthen American order without competing dollar-for-dollar, ship-for-ship, or loan-for-loan.
By Abhijit V. Banerjee, Esther Duflo
FROM THE WINNERS OF THE 2019 NOBEL PRIZE IN ECONOMICS'Wonderfully refreshing . . . A must read' Thomas PikettyIn this revolutionary book, prize-winning economists Abhijit V. Banerjee and Esther Duflo show how economics, when done right, can help us solve the thorniest social and political problems of our day. From immigration to inequality, slowing growth to accelerating climate change, we have the resources to address the challenges we face but we are so often blinded by ideology.Original, provocative and urgent, Good Economics for Hard Times offers the new thinking that we need. It builds on cutting-edge research in economics - and years of exploring the most effective solutions to alleviate extreme poverty - to make a persuasive case for an intelligent interventionism and a society built on compassion and respect. A much-needed antidote to polarized discourse, this book shines a light to help us appreciate and understand our precariously balanced world.
A major reappraisal, by the Nobel-prizewinning economist, of the relationship between capitalism and freedom Despite its manifest failures, the narrative of neoliberalism retains its grip on the public mind and the policies of governments all over the world. By this narrative, less regulation and more 'animal spirits' capitalism produces not only greater prosperity, but more freedom for individuals in society - and is therefore morally better. But, in The Road to Freedom Stiglitz asks, whose freedom are we - should we be - thinking about? What happens when one person's freedom comes at the expense of another's? Should the freedoms of corporations be allowed to impinge upon those of individuals in the ways they now do? Taking on giants of neoliberalism such as Hayek and Friedman and examining how public opinion is formed, Stiglitz reclaims the language of freedom from the right to show that far from 'free' - unregulated - markets promoting growth and enterprise, they in fact reduce it, lessening economic opportunities for majorities and siphoning wealth from the many to the few - both individuals and countries. He shows how neoliberal economics and its implied moral system have impacted our legal and social freedoms in surprising ways, from property and intellectual rights, to education and social media. Stiglitz's eye, as always, is on how we might create the true human flourishing which should be the great aim of our economic and social system, and offers an alternative to that prevailing today. The Road to Freedom offers a powerful re-evaluation of democracy, economics and what constitutes a good society--and provides a roadmap of how we might achieve it.
By Andrew Ross Sorkin
Shortlisted for the bbc samuel johnson prize 2010 they were masters of the financial universe, flying in private jets and raking in billions. They thought they were too big to fail. Yet they would bring the world to its knees. Andrew ross sorkin, the news-breaking new york times journalist, delivers the first true in-the-room account of the most powerful men and women at the eye of the financial storm - from reviled lehman brothers ceo dick 'the gorilla' fuld, to banking whiz jamie dimon, from bullish treasury secretary hank paulson to aig's joseph cassano, dubbed 'the man who crashed the world'. Through unprecedented access to the key players, sorkin meticulously re-creates frantic phone calls, foul-mouthed rows and white-knuckle panic, as wall street fought to save itself.
By Amartya Sen
Commodities and Capabilities presents a set of inter-related theses concerning the foundations of welfare economics, and in particular about the assessment of personal well-being and advantage. The argument presented focuses on the capability to function, i.e. what a person can do or can be, questioning in the process the more standard emphasis on opulence or on utility. In fact, a person's motivation behind choice is treated here as a parametric variable which may or may not coincide with the pursuit of self-interest. Given the large number of practical problems arising from the roles and limitations of different concepts of interest and the judgement of advantage and well-being, this scholarly investigation is both of theoretical interest and practical import.
By Quinn Slobodian
'An essential read to understand the times in which we live' - Lea Ypi A revelatory exploration of how today's rightwing authoritarianism emerged not in opposition to neoliberalism, but from within it After the end of the Cold War, neoliberalism, with its belief in the virtues of markets and competition, seemed to have triumphed. Communism had been defeated - and Friedrich Hayek, the spiritual father of neoliberal economics, had just about lived to see it. But in the decades that followed, Hayek's disciples knew that they had a problem. The rise of social movements, from civil rights and feminism to environmentalism, were now proving roadblocks in the road to freedom, nurturing a culture of government dependency, public spending, political correctness and special pleading. Neoliberals needed an antidote. In this illuminating new book, historian Quinn Slobodian reveals how, from the 1990s onwards, neoliberal thinkers turned to nature, in an attempt to roll back social changes and to return to a hierarchy of gender, race and cultural difference. He explores how these thinkers drew on the language of science, from cognitive psychology to genetics, in order to embed the idea of 'competition' ever deeper into social life, and to advocate cultural homogeneity as essential for markets to truly work. Reading and misreading the writings of their sages, Friedrich Hayek and Ludwig von Mises, they forged the alliances with racial psychologists, neoconfederates, ethnonationalists that would become known as the alt-right. Hayek's Bastards shows that many contemporary iterations of the Far Right, from Javier Milei to Donald Trump, emerged not in opposition to neoliberalism, but within it. As repellent as their politics may be, these supposed disruptors are not defectors from the neoliberal order, but its latest cheerleaders.
By Liaquat Ahamed
THIS HAS HAPPENED BEFORE. The current financial crisis has only one parallel: the Wall Street Crash of 1929 and subsequent Great Depression of the 1930s, which crippled the future of an entire generation and set the stage for the horrors of the Second World War. Yet the economic meltdown could have been avoided, had it not been for the decisions taken by a small number of central bankers. In Lords of Finance, we meet these men, the four bankers who truly broke the world: the enigmatic Norman Montagu of the bank of England, Benjamin Strong of the NY Federal Reserve, the arrogant yet brilliant Hjalmar Schacht of the Reichsbanlk and the xenophobic Emile Moreau of the Banque de France. Their names were lost to history, their lives and actions forgotten, until now. Liaquat Ahamed tells their story in vivid and gripping detail, in a timely and arresting reminder that individuals - their ambitions, limitations and human nature - lie at the very heart of global catastrophe.
By Ingrid Robeyns
'The best case I've read for putting an upper limit on the accumulation of wealth' Richard Wilkinson 'One of the most talked-about books to the moment ... Limitarianism floats the heretical idea that fixing society isn't just about saving the poorest from destitution, but about putting a cap on how much the richest are able to own' Spectator No-one deserves to be a millionaire. Not even you. We all notice when the poor get poorer: when there are more rough sleepers and food bank queues start to grow. But if the rich become richer, there is nothing much to see in public and, for most of us, daily life doesn't change. Or at least, not immediately. In this astonishing, eye-opening intervention, world-leading philosopher and economist Ingrid Robeyns exposes the true extent of our wealth problem, which has spent the past fifty years silently spiralling out of control. In moral, political, economic, social, environmental and psychological terms, she shows, extreme wealth is not only unjustifiable but harmful to us all - the rich included. In place of our current system, Robeyns offers a breathtakingly clear alternative: limitarianism. The answer to so many of the problems posed by neoliberal capitalism - and the opportunity for a vastly better world - lies in placing a hard limit on the wealth that any one person can accumulate. Because nobody deserves to be a millionaire. Not even you. *Shortlisted for the Socrates Philosophy Prize*
By David K. Shipler
NATIONAL BESTSELLER • From the author of the Pulitzer Prize–winning Arab and Jew, an intimate portrait unfolds of working American families struggling against insurmountable odds to escape poverty. "This is clearly one of those seminal books that every American should read and read now." —The New York Times Book Review As David K. Shipler makes clear in this powerful, humane study, the invisible poor are engaged in the activity most respected in American ideology—hard, honest work. But their version of the American Dream is a nightmare: low-paying, dead-end jobs; the profound failure of government to improve upon decaying housing, health care, and education; the failure of families to break the patterns of child abuse and substance abuse. Shipler exposes the interlocking problems by taking us into the sorrowful, infuriating, courageous lives of the poor—white and black, Asian and Latino, citizens and immigrants. We encounter them every day, for they do jobs essential to the American economy. This impassioned book not only dissects the problems, but makes pointed, informed recommendations for change. It is a book that stands to make a difference.