Best Books of 2021: Economics


The future of money: How the digital revolution is changing money and finance
Eswar S Prasad Belknap 28.95 pounds / Harvard University Press 35 dollars

Digital technology is also changing the financial world.Prasad from Cornell University provided a Valuable overview What this might mean: physical currencies will disappear; central bank currencies will compete with new private versions; financial intermediation will transform; new opportunities will be opened to the world population. However, opportunities come with risks. As Prasad sums it up: “Perhaps a bright future is beckoning us.”

Resilient society
Author: Markus K Brunnermeier Effort $24

In this important book, Brunnermeier of Princeton University believes that “resilience can be a guiding light for a post-Covid society”. The global financial crisis and pandemic have taught us that if we are to successfully respond to shocks, we need to be resilient. Elasticity is different from “robustness”. It is “about being able to withstand storms and recover”. We must do better.

Gears and monsters: What is economics and what should it be
By Diane Coyle, Princeton University Press £20/$24

Coyle is currently studying at Cambridge University and is a very thoughtful commentator on economics.At this BookShe rejected the so-called “scarecrow” argument of many economic critics, although acknowledging that it is difficult for economists to be objective. Instead, she focused on two other weaknesses: First, the hypothesis of rational economic “gears” became more impractical in the age of “snowballing” digital “monsters”; second, economic practitioners are extremely important in the societies they study. Not representative.

Domestic and foreign economists: Personal journey
Author: Shankar Acharya HarperCollins India 24 USD

Acharya has been a close friend of mine since we met in 1971, when we were both working at the World Bank. Later, he returned to India and served as the chief economic adviser of the Ministry of Finance for the longest time and served three finance ministers under reform, especially Manmohan Singh. Since then, he has been the wisest analyst of India’s economic performance. In this lovely autobiography, he tells of his personal and professional career full of charm and insight.

Camp David Three Days: How the secret meeting of 1971 changed the global economy
Jeffrey E. Garten, Harper Collins $29.99

On the weekend of August 13-15, 1971, at a secret meeting at Camp David, President Nixon and his senior advisers decided to sever the link between the U.S. dollar and gold. This is not only the end of the gold standard, but also the beginning of a new monetary order. In this outstanding book, Garten explained in detail what happened and learned lessons for today.

Sustainable future: Action Agenda
Rafael Kaplinsky, Government £18.99/Willie US$21.50

Our time is an era of intellectual turbulence. People are looking for new paradigms. Innovation expert Kaplinsky defines our challenge as the depletion of the “mass production” paradigm and its replacement by the “information and communication technology” paradigm. He believes that our task is to build a prosperous and environmentally sustainable world in this new context.

2021 book of the year

This week, the writer and critic of the Financial Times Share their favorites. Some highlights are:

on Monday: Andrew Hill’s business
Tuesday: Gideon Rahman, “Politics”
Wednesday: Martin Wolf’s Economics
Thursday: Novels by Laura Battelle
Friday: Tony Barber’s history
Saturday: Critics’ choice

New economics: Declaration
Steve Keen Government 12.99 GBP/Willie 14 USD

Keane is one of the world’s leading heretical economists.this Book It is a fierce attack on the lack of realism in neoclassical economics that borders religious beliefs. He is particularly effective in reversing the complacency assumptions of traditional concepts in macroeconomics, monetary economics, and environmental economics. A lot of what he wrote makes sense, especially on the merits of post-Keynesianism and “biophysical economics.” The simplified assumptions of traditional economics are indeed dangerous.

Times of unpeace: How does the connection cause conflicts
Mark Leonard, Bantam Press 18.99 GBP/36.95 USD

Leonard, Director of the European Commission on External Relations, wrote an article Book This has the dual advantages of being short and important. We have created an interconnected world and brought great benefits. But this also led to strong opposition from the tribe, “the populist leader promotes the glory of the country in a global understanding.” His correct conclusion is that “if the connections that are vital to our happiness become deadly weapons, we need to find ways to reduce their danger.”

Economist’s worldview: And the pursuit of happiness
Author: Steven E Rhoads Cambridge University Press £20

This is the classic 35th anniversary edition. Rhodes, Emeritus Professor of Political Science at the University of Virginia, builds on the best explanation I know about how orthodox economists view choices, markets, externalities, and other concepts. The new version is valuable to both non-economists and economists: the former will understand how economists think; the latter will understand some of the limitations of their way of thinking.

The six faces of globalization: Who wins and who loses, and why it matters
Anthea Roberts and Nicholas Lampe, Harvard University Press £28.95/$35

This is an interesting original book. Its starting point is that people have different “narratives” of globalization. The author distinguishes six such narratives: “establishment” narrative; “left-wing populism” narrative; “right-wing populism” narrative; “corporate power” narrative; “geoeconomic” narrative; and “global threat” narrative. They concluded that the best way is to synthesize the obvious opposites. There is not one truth, but many partial truths.

Tell us what you think

Which books on this list do you like best — which books have we missed?Tell us in the comments below

Nudge: final version
Authors: Richard H Thaler and Cass R Sunstein, Allen Lane $18

NudgeOriginally published in 2008, it is a very influential and important best-selling book. The content involves how to influence people to make better decisions, thereby improving the relationship between bottom-up stupidity and top-down command. trade off. other. The author calls it “liberal paternalism.” Here, they have substantially revised the earlier version based on new ideas, developments, and research. The title represents a promise to ensure that they will not write other versions. So read it now: this is the final version.

Samuelson Friedman: Battle for the free market
Author: Nicholas Wapshot WW Norton $28.95

This is the author’s follow-up Cairns Hayek. It focuses on the debate between Paul Samuelson of MIT and Milton Friedman of Chicago, Whose contrasting views make Weekly newspaper 18 years. Samuelson is an economist of economists: his methodological influence is profound. Friedman had a huge impact on monetary economics. But it can be said that his political influence is greater. By focusing on these two individuals, Wapsott shed light on the controversy that still exists today.

The magical money tree and other economic stories
Lorenzo Forni Agenda £14.99/$25.00

Budget constraints are important. This is true for private households and businesses. The same is true for the government. Those who forget this simple historical lesson will get stuck. This is the theme of this little book by Forni from the University of Padua. He leads readers to understand the basic realities of budget, credit and currency. As Keynes taught us, the job of the government and the central bank is to stabilize the economy through fiscal and monetary policies. However, it is impossible to create long-term growth simply by creating large amounts of capital. If people forget this fact, then people may end up looking a lot like contemporary Argentina.

For the economics books published in the first half of the year, see Martin Wolf’s mid-year selection

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