The Pursuit of Power


Book Description

ECONOMIST BOOKS OF THE YEAR 2016 'A scintillating, encyclopaedic history, rich in detail from the arcane to the familiar... a veritable tour de force' Richard Overy, New Statesman 'Transnational history at its finest ... .. social, political and cultural themes swirl together in one great canvas of immense detail and beauty' Gerard DeGroot, The Times 'Dazzlingly erudite and entertaining' Dominic Sandbrook, The Sunday Times A masterpiece which brings to life an extraordinarly turbulent and dramatic era of revolutionary change. The Pursuit of Power draws on a lifetime of thinking about nineteenth-century Europe to create an extraordinarily rich, surprising and entertaining panorama of a continent undergoing drastic transformation. The book aims to reignite the sense of wonder that permeated this remarkable era, as rulers and ruled navigated overwhelming cultural, political and technological changes. It was a time where what was seen as modern with amazing speed appeared old-fashioned, where huge cities sprang up in a generation, new European countries were created and where, for the first time, humans could communicate almost instantly over thousands of miles. In the period bounded by the Battle of Waterloo and the outbreak of World War I, Europe dominated the rest of the world as never before or since: this book breaks new ground by showing how the continent shaped, and was shaped by, its interactions with other parts of the globe. Richard Evans explores fully the revolutions, empire-building and wars that marked the nineteenth century, but the book is about so much more, whether it is illness, serfdom, religion or philosophy. The Pursuit of Power is a work by a historian at the height of his powers: essential for anyone trying to understand Europe, then or now.




The Greek Revolution


Book Description

Winner of the Duff Cooper Prize • One of The Economist's top history books of the year From one of our leading historians, an important new history of the Greek War of Independence—the ultimate worldwide liberal cause célèbre of the age of Byron, Europe’s first nationalist uprising, and the beginning of the downward spiral of the Ottoman Empire—published two hundred years after its outbreak As Mark Mazower shows us in his enthralling and definitive new account, myths about the Greek War of Independence outpaced the facts from the very beginning, and for good reason. This was an unlikely cause, against long odds, a disorganized collection of Greek patriots up against what was still one of the most storied empires in the world, the Ottomans. The revolutionaries needed all the help they could get. And they got it as Europeans and Americans embraced the idea that the heirs to ancient Greece, the wellspring of Western civilization, were fighting for their freedom against the proverbial Eastern despot, the Turkish sultan. This was Christianity versus Islam, now given urgency by new ideas about the nation-state and democracy that were shaking up the old order. Lord Byron is only the most famous of the combatants who went to Greece to fight and die—along with many more who followed events passionately and supported the cause through art, music, and humanitarian aid. To many who did go, it was a rude awakening to find that the Greeks were a far cry from their illustrious forebears, and were often hard to tell apart from the Ottomans. Mazower does full justice to the realities on the ground as a revolutionary conspiracy triggered outright rebellion, and a fraying and distracted Ottoman leadership first missed the plot and then overreacted disastrously. He shows how and why ethnic cleansing commenced almost immediately on both sides. By the time the dust settled, Greece was free, and Europe was changed forever. It was a victory for a completely new kind of politics—international in its range and affiliations, popular in its origins, romantic in sentiment, and radical in its goals. It was here on the very edge of Europe that the first successful revolution took place in which a people claimed liberty for themselves and overthrew an entire empire to attain it, transforming diplomatic norms and the direction of European politics forever, and inaugurating a new world of nation-states, the world in which we still live.




The Making Of An Economist


Book Description

This book focuses on the graduate education of a small group of economists—those at elite schools. It is intended for three audiences: aspiring economists, economists, and the lay public. The book reports conversations with MIT, Harvard, Chicago, and Columbia students.




The Making of a European Economist


Book Description

The book is fascinating to read not only by someone like me who is not really an economist, but has been close to the field and has been teaching students of economics for a long time, but mainly by policymakers both in the field of higher education and in other fields like business where the larger aspects of societal changes are more and more apparent. The book is even more worth-reading to an audience of economics professors, researchers, students and particularly policymakers who are waiting for input from economic higher education. . . Mariana Nicolae, Journal of Philosophical Economics In this captivating volume, David Colander scrutinizes economics in Europe, which is currently undergoing a radical process of convergence, standardization and metrication. While he acknowledges that the USA is the world leader in terms of journal publications in economics, he also suggests that the scholarly breadth and practical orientation of much economics research in Europe is worth preserving and enhancing. No-one who wishes to make economics more relevant should ignore Colander s painstaking study. Geoffrey M. Hodgson, University of Hertfordshire, UK David Colander s highly original and thought provoking book considers ongoing changes in graduate European economics education. Following up on his earlier classic studies of US graduate economic education, he studies the economist production function in which universities take student raw material and transform it into economists, In doing so he provides insight into economists and economics. He argues that until recently Europe had a different economist production function than did the US; thus European economists were different from their US counterparts. However, this is now changing, and Colander suggests that the changes are not necessarily for the best. Specifically, he suggests that in their attempt to catch up with US programs, European economics is undermining some of their strengths-strengths that could allow them to leapfrog US economics in the future, and be the center of 21st century economics. Student views on the ongoing changes and ensuing difficulties are reported via surveys of, and interviews with, students in global European graduate programs. The conclusion draws broad policy implications from the study, and suggests a radically different market approach to funding economic research that Colander argues will help avoid the pitfalls into which European economics is now falling. This unique and path-breaking book will prove essential reading for economists, as well as academics, students and researchers with a special interest in economics education, the methodology of economics, or the history of economic thought.




The Dream of Europe


Book Description

'Mak is the history teacher everyone should have had' Financial Times From the author of the internationally acclaimed In Europe, a stunning history of our present, examining the first two decades of this most fragile and fraught new millennium. How did the great European dream turn sour? And where do we go from here? In this illuminating book, Geert Mak - one of Europe's best-loved commentators - charts the seismic events that have shaped people's lives over the past twenty years. He moves through the rocky expansion of the EU, the aftermath of 9/11 and terrorist attacks across Europe, the 2008 financial crash and the euro crisis, and on to the rise of right-wing populism and Brexit. Like no other, Mak blends history, politics and culture with the stories and experiences of the many Europeans he meets on his travels. He brings this continent to life, and asks- what role does Europe now play, and how might we face our fresh challenges together? 'A powerful, humane and serious mind' Guardian 'Mak is a truly cosmopolitan chronicler' Independent




Veblen


Book Description

A bold new biography of the thinker who demolished accepted economic theories in order to expose how people of economic and social privilege plunder their wealth from society’s productive men and women. Thorstein Veblen was one of America’s most penetrating analysts of modern capitalist society. But he was not, as is widely assumed, an outsider to the social world he acidly described. Veblen overturns the long-accepted view that Veblen’s ideas, including his insights about conspicuous consumption and the leisure class, derived from his position as a social outsider. In the hinterlands of America’s Midwest, Veblen’s schooling coincided with the late nineteenth-century revolution in higher education that occurred under the patronage of the titans of the new industrial age. The resulting educational opportunities carried Veblen from local Carleton College to centers of scholarship at Johns Hopkins, Yale, Cornell, and the University of Chicago, where he studied with leading philosophers, historians, and economists. Afterward, he joined the nation’s academic elite as a professional economist, producing his seminal books The Theory of the Leisure Class and The Theory of Business Enterprise. Until late in his career, Veblen was, Charles Camic argues, the consummate academic insider, engaged in debates about wealth distribution raging in the field of economics. Veblen demonstrates how Veblen’s education and subsequent involvement in those debates gave rise to his original ideas about the social institutions that enable wealthy Americans—a swarm of economically unproductive “parasites”—to amass vast fortunes on the backs of productive men and women. Today, when great wealth inequalities again command national attention, Camic helps us understand the historical roots and continuing reach of Veblen’s searing analysis of this “sclerosis of the American soul.”




The Making of Modern Economics


Book Description

Here is a bold history of economics - the dramatic story of how the great economic thinkers built today's rigorous social science. Noted financial writer and economist Mark Skousen has revised and updated this popular work to provide more material on Adam Smith and Karl Marx, and expanded coverage of Joseph Stiglitz, 'imperfect' markets, and behavioral economics.This comprehensive, yet accessible introduction to the major economic philosophers of the past 225 years begins with Adam Smith and continues through the present day. The text examines the contributions made by each individual to our understanding of the role of the economist, the science of economics, and economic theory. To make the work more engaging, boxes in each chapter highlight little-known - and often amusing - facts about the economists' personal lives that affected their work.




The Making of Competition Policy


Book Description

This book provides edited selections of primary source material in the intellectual history of competition policy from Adam Smith to the present day. Chapters include classical theories of competition, the U.S. founding era, classicism and neoclassicism, progressivism, the New Deal, structuralism, the Chicago School, and post-Chicago theories. Although the focus is largely on Anglo-American sources, there is also a chapter on European Ordoliberalism, an influential school of thought in post-War Europe. Each chapter begins with a brief essay by one of the editors pulling together the important themes from the period under consideration.




Making the European Monetary Union


Book Description

Europe’s financial crisis cannot be blamed on the Euro, Harold James contends in this probing exploration of the whys, whens, whos, and what-ifs of European monetary union. The current crisis goes deeper, to a series of problems that were debated but not resolved at the time of the Euro’s invention. Since the 1960s, Europeans had been looking for a way to address two conundrums simultaneously: the dollar’s privileged position in the international monetary system, and Germany’s persistent current account surpluses in Europe. The Euro was created under a politically independent central bank to meet the primary goal of price stability. But while the monetary side of union was clearly conceived, other prerequisites of stability were beyond the reach of technocratic central bankers. Issues such as fiscal rules and Europe-wide banking supervision and regulation were thoroughly discussed during planning in the late 1980s and 1990s, but remained in the hands of member states. That omission proved to be a cause of crisis decades later. Here is an account that helps readers understand the European monetary crisis in depth, by tracing behind-the-scenes negotiations using an array of sources unavailable until now, notably from the European Community’s Committee of Central Bank Governors and the Delors Committee of 1988–89, which set out the plan for how Europe could reach its goal of monetary union. As this foundational study makes clear, it was the constant friction between politicians and technocrats that shaped the Euro. And, Euro or no Euro, this clash will continue into the future.




The Armchair Economist


Book Description

Air bags cause accidents, because well-protected drivers take more risks. This well-documented truth comes as a surprise to most people, but not to economists, who have learned to take seriously the proposition that people respond to incentives. In The Armchair Economist, Steven E. Landsburg shows how the laws of economics reveal themselves in everyday experience and illuminate the entire range of human behavior. Why does popcorn cost so much at the cinema? The 'obvious' answer is that the owner has a monopoly, but if that were the whole story, there would also be a monopoly price to use the toilet. When a sudden frost destroys much of the Florida orange crop and prices skyrocket, journalists point to the 'obvious' exercise of monopoly power. Economists see just the opposite: If growers had monopoly power, they'd have raised prices before the frost. Why don't concert promoters raise ticket prices even when they are sure they will sell out months in advance? Why are some goods sold at auction and others at pre-announced prices? Why do boxes at the football sell out before the standard seats do? Why are bank buildings fancier than supermarkets? Why do corporations confer huge pensions on failed executives? Why don't firms require workers to buy their jobs? Landsburg explains why the obvious answers are wrong, reveals better answers, and illuminates the fundamental laws of human behavior along the way. This is a book of surprises: a guided tour of the familiar, filtered through a decidedly unfamiliar lens. This is economics for the sheer intellectual joy of it.