Summaries of books about Economics:
Angrynomics
Eric Lonergan
The book explores the rising tide of anger in global economies and its impact on politics and society, proposing innovative solutions to address economic inequality and the dysfunctional aspects of capitalism. It delves into the distinction between moral and tribal anger, advocating for harnessing anger positively through economic policies that promote stability and fairness.
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Animal Spirits
How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism
George A. Akerlof|Robert J. J. Shiller
The book delves into the psychological factors that influence economic decisions, arguing that traditional economic theories often overlook the impact of emotions, beliefs, and irrational behavior. It explores how these "animal spirits" contribute to financial crises and economic fluctuations, and suggests that understanding them is crucial for effective economic policy and global capitalism management.
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Fool's Gold
How the Bold Dream of a Small Tribe at J.P. Morgan Was Corrupted by Wall Street Greed and Unleashed a Catastrophe
Gillian Tett
The book chronicles the creation of credit derivatives by a team at J.P. Morgan, detailing how these financial instruments were initially designed to spread and manage risk. It goes on to explore how these innovations were later distorted by rampant greed and speculation, contributing significantly to the global financial crisis of 2008.
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The Return of Depression Economics and the Crisis of 2008
Paul Krugman
The book analyzes the economic factors leading to the 2008 financial crisis, drawing parallels with past economic downturns to argue that the world was repeating the same mistakes that led to the Great Depression. It discusses the failure of regulation, the housing bubble, and the complexities of the global financial system, while advocating for policy solutions to prevent future crises.
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China's Great Wall of Debt
Shadow Banks, Ghost Cities, Massive Loans, and the End of the Chinese Miracle
Dinny McMahon
The book delves into the intricacies of China's economic system, highlighting the unsustainable practices such as over-reliance on debt, shadow banking, and the construction of underutilized urban projects. It critically examines the potential consequences of these practices on the future of China's economic growth and stability.
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Who Gets What — And Why
The New Economics of Matchmaking and Market Design
Alvin E. Roth
The book explores the intricacies of market design and how different markets require specific rules to facilitate successful matches between parties, such as in job markets, school admissions, and organ donations. It delves into the principles of matching theory and the role of economists in crafting marketplaces that are efficient, equitable, and encourage cooperation among participants.
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The Age of Turbulence
Adventures in a New World
Alan Greenspan
The book offers a memoir of Greenspan's career as an economist and his tenure as Chairman of the Federal Reserve, providing insights into the major economic events and policies of his time. It also presents his analysis of the global financial system and forecasts for the future economic challenges and opportunities in an increasingly interconnected world.
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Anthro-Vision
A New Way to See in Business and Life
Gillian Tett
The book presents an argument for the application of anthropological methods and insights to understand the often overlooked cultural and social dimensions of the business world and everyday life. It provides examples and case studies demonstrating how a shift to an "anthro-vision" perspective can reveal hidden consumer behaviors, corporate cultures, and social complexities, leading to more effective decision-making and innovation.
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Average Is Over
Powering America Beyond the Age of the Great Stagnation
Tyler Cowen
The book explores the economic shift towards a society where high earners thrive by leveraging technology, while middle-class jobs are increasingly automated or outsourced. It argues that success in the future economy will require a new set of skills, including adeptness at working with intelligent machines and a commitment to continual learning.
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An Economist Walks into a Brothel
And Other Unexpected Places to Understand Risk
Allison Schrager
The book explores the concept of risk management through a series of unconventional case studies, including sex work, horse breeding, and Hollywood. It delves into how various professionals in these fields assess and mitigate risks, offering insights that can be applied to financial markets and personal decision-making.
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