The Nobel factor

the prize in economics, social democracy, and the market turn

Economic theory may be speculative, but its impact is powerful and real. Since the 1970s, it has been closely associated with a sweeping change around the world—the “market turn.” This is what Avner Offer and Gabriel Söderberg call the rise of market liberalism, a ...

Economics for the many

Our economy is rigged in favour of a wealthy elite. We need a new approach: an economics for the many. Big challenges lie ahead for our society: the rise of automation and the threat of catastrophic climate change. But so, too, do the huge possibilities ...

Good economics for hard times

better answers to aour biggest problems

In 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 ...

The new environmental economics

Too often, economics disassociates humans from nature, the economy from the biosphere that contains it, and sustainability from fairness. When economists do engage with environmental issues, they typically reduce their analysis to a science of efficiency that leaves aside issues of distributional analysis and justice ...

The enchantments of Mammon

how capitalism became the religion of modernity

Far from displacing religions, as has been supposed, capitalism became one, with money as its deity. Eugene McCarraher reveals how mammon ensnared us and how we can find a more humane, sacramental way of being in the world. If socialists and Wall Street bankers can ...

The Gig economy

a critical introduction

All of a sudden, everybody’s talking about the gig economy. From taxi drivers to pizza deliverers to the unemployed, we are all aware of the huge changes that it is driving in our lives as workers, consumers and citizens. This is the first comprehensive ...

Money

Few economic phenomena provoke as much confusion as money. From the first measures of value and the physical coins that circulated at the dawn human civilization to the era of ‘virtual’ money transmitted through cyberspace, it is ubiquitous and hugely important, yet economists cannot even ...

General equilibrium

The theory of general equilibrium offers a simplified guide to how real economies function: it describes how price, demand, supply and production interact in multiple markets and tend towards a state of equilibrium. The first attempt to model this interaction was made in the late ...

Money in a human economy

A human economy puts people first in emergent world society. Money is a human universal and now takes the divisive form of capitalism. This book addresses how to think about money (from Aristotle to the daily news and the sexual economy of luxury goods); its ...

The debt delusion

living within our means and other fallacies

The basic public understanding of how a government should handle its debt is debunked as misinformed in this primer for people looking to cut through the rhetoric and misinformation.

Why austerity persists

The ongoing appeal of austerity to the right-wing and centre-right governments across the globe in the wake of the 2008 financial crisis is considered in relation to austerity's evident ineffectiveness and tyranny.

The case for community wealth building

Guinan and O'Neill argue that traditional economic strategies waste billions and the transformational effects of community wealth building would be preferable.

Chicago Price Theory

An authoritative textbook based on the legendary economics course taught at the University of Chicago Price theory is a powerful analytical toolkit for measuring, explaining, and predicting human behavior in the marketplace. This incisive textbook provides an essential introduction to the subject, offering a diverse ...

Central Bank policy

theory and practice

Discussion focuses on philosophical and conceptual theories that have key implications for central bank policy making and findings are supported by relevant quantitative analyses and case studies reflecting recent issues with respect to centralized financial policy making, including the adoption of the Inflation Targeting Framework ...

Change everything

creating an economy for the common good

s it possible for businesses to have a bottom line that is not profit and endless growth, but human dignity, justice, sustainability and democracy? Or an alternative economic model that is untainted by the greed and crises of current financial systems? Christian Felber says it ...

Trading for good

how global trade can be made to serve people not money

Trade is the lifeblood of the global economy, but few would consider it a social good. Instead, our views on trade have polarized between two extremes: 'free trade' ideologues who regard trade as an end in itself, and 'protectionists' who view it as a destructive ...

Straight talk on trade

ideas for a sane world economy

An honest discussion of free trade and how nations can sensibly chart a path forward in today's global economy Not so long ago the nation-state seemed to be on its deathbed, condemned to irrelevance by the forces of globalization and technology. Now it is ...

Behavioural Macroeconomics

theory and policy

Modern macroeconomics has been based on the paradigm of the rational individual capable of understanding the complexity of the world. This has created a very shallow theory of the business cycle in which nothing happens in the macroeconomy unless shocks occur from outside. Behavioural Macroeconomics ...

Capitalism

Competition, Conflict, Crises

Orthodox economics operates within a hypothesized world of perfect competition in which perfect consumers and firms act to bring about supposedly optimal outcomes. The discrepancies between this model and the reality it claims to address are then attributed to particular imperfections in reality itself. In ...

After the crash

financial crises and regulatory responses

The 2008 crash was the worst financial crisis and the most severe economic downturn since the Great Depression. It triggered a complete overhaul of the global regulatory environment, ushering in a stream of new rules and laws to combat the perceived weakness of the financial ...