The Nobel Factor


Book Description

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 Soderberg call the rise of market liberalism, a movement that, seeking to replace social democracy, holds up buying and selling as the norm for human relations and society. Our confidence in markets comes from economics, and our confidence in economics is underpinned by the Nobel Prize in Economics, which was first awarded in 1969. Was it a coincidence that the market turn and the prize began at the same time? The Nobel Factor, the first book to describe the origins and power of the most important prize in economics, explores this and related questions by examining the history of the prize, the history of economics since the prize began, and the simultaneous struggle between market liberals and social democrats in Sweden, Europe, and the United States. The Nobel Factor tells how the prize, created by the Swedish central bank, emerged from a conflict between central bank orthodoxy and social democracy. The aim was to use the halo of the Nobel brand to enhance central bank authority and the prestige of market-friendly economics, in order to influence the future of Sweden and the rest of the developed world. And this strategy has worked, with sometimes disastrous results for societies striving to cope with the requirements of economic theory and deregulated markets




The Nobel Factor


Book Description

8. Models into Policy: Assar Lindbeck and Swedish Social Democracy -- 9. Swedosclerosis or Pseudosclerosis? Sweden in the 1980s -- 10. The Real Crisis: Not Work Incentives but Runaway Credit -- 11. Beyond Scandinavia: Washington Consensus to Market Corruption -- Conclusion: Like Physics or Like Literature? -- Bibliography -- Index




The Nobel Factor


Book Description

How the creation of the Nobel Prize in Economics changed the economics profession, Sweden, and the world 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 movement that, seeking to replace social democracy, holds up buying and selling as the norm for human relations and society. Our confidence in markets comes from economics, and our confidence in economics is underpinned by the Nobel Prize in Economics, which was first awarded in 1969. Was it a coincidence that the market turn and the prize began at the same time? The Nobel Factor, the first book to describe the origins and power of the most important prize in economics, explores this and related questions by examining the history of the prize, the history of economics since the prize began, and the simultaneous struggle between market liberals and social democrats in Sweden, Europe, and the United States. The Nobel Factor tells how the prize, created by the Swedish central bank, emerged from a conflict between central bank orthodoxy and social democracy. The aim was to use the halo of the Nobel brand to enhance central bank authority and the prestige of market-friendly economics, in order to influence the future of Sweden and the rest of the developed world. And this strategy has worked, with sometimes disastrous results for societies striving to cope with the requirements of economic theory and deregulated markets. Drawing on previously untapped Swedish national bank archives and providing a unique analysis of the sway of prizewinners, The Nobel Factor offers an unprecedented account of the real-world consequences of economics—and its greatest prize.




Factor Four


Book Description

Since the industrial revolution, progress has meant an increase in labour productivity. Factor Four describes a new form of progress, resource productivity, a form which meets the overriding imperative for the future (sustainability). It shows how at least four times as much wealth can be extracted from the resources we use. As the authors put it, the book is about doing more with less, but this is not the same as doing less, doing worse or doing without. In 1972, the Club of Rome published Limits to Growth, which sent shock waves around the world by arguing that we were rapidly running out of essential resources. This Report to the Club of Rome offers a solution. It lies in using resources more efficiently, in ways which can already be achieved, not at a cost, but at a profit. The book contains a wealth of examples of revolutionizing productivity, in the use of energy; from hypercars to low-energy beef; materials, from sub-surface drip irrigation to electronic books, transport, video conferencing to CyberTran, and demonstrating how much more could be generated from much less today. It explains how markets can be organized and taxes re-based to eliminate perverse incentives and reward efficiency, so wealth can grow while consumption does not. The benefits are enormous: profits will increase, pollution and waste will decrease and the quality of life will improve. Moreover, the benefits will be shared: progress will no longer depend on making ever fewer people more productive. Instead, more people and fewer resources can be employed. While for many developing countries the efficiency revolution may offer the only realistic chance of prosperity within a reasonable time span. The practical promise held out in this book is huge, but the authors show how it is up to each of us, as well as to businesses and governments, to make it happen.




The Sex Factor


Book Description

Why did the West become so rich? Why is inequality rising? How ‘free’ should markets be? And what does sex have to do with it? In this passionate and skilfully argued book, leading feminist Victoria Bateman shows how we can only understand the burning economic issues of our time if we put sex and gender – ‘the sex factor’ – at the heart of the picture. Spanning the globe and drawing on thousands of years of history, Bateman tells a bold story about how the status and freedom of women are central to our prosperity. Genuine female empowerment requires us not only to recognize the liberating potential of markets and smart government policies but also to challenge the double-standard of many modern feminists when they celebrate the brain while denigrating the body. This iconoclastic book is a devastating exposé of what we have lost from ignoring ‘the sex factor’ and of how reversing this neglect can drive the smart economic policies we need today.




The Eureka Factor


Book Description

In a book perfect for readers of Charles Duhigg’s The Power of Habit, David Eagleman’s Incognito, and Leonard Mlodinow’s Subliminal, the cognitive neuroscientists who discovered how the brain has aha moments—sudden creative insights—explain how they happen, when we need them, and how we can have more of them to enrich our lives and empower personal and professional success. Eureka or aha moments are sudden realizations that expand our understanding of the world and ourselves, conferring both personal growth and practical advantage. Such creative insights, as psychological scientists call them, were what conveyed an important discovery in the science of genetics to Nobel laureate Barbara McClintock, the melody of a Beatles ballad to Paul McCartney, and an understanding of the cause of human suffering to the Buddha. But these moments of clarity are not given only to the famous. Anyone can have them. In The Eureka Factor, John Kounios and Mark Beeman explain how insights arise and what the scientific research says about stimulating more of them. They discuss how various conditions affect the likelihood of your having an insight, when insight is helpful and when deliberate methodical thought is better suited to a task, what the relationship is between insight and intuition, and how the brain’s right hemisphere contributes to creative thought. Written in a lively, engaging style, this book goes beyond scientific principles to offer productive techniques for realizing your creative potential—at home and at work. The authors provide compelling anecdotes to illustrate how eureka experiences can be a key factor in your life. Attend a dinner party with Christopher Columbus to learn why we need insights. Go to a baseball game with the director of a classic Disney Pixar movie to learn about one important type of aha moment. Observe the behind-the-scenes arrangements for an Elvis Presley concert to learn why the timing of insights is crucial. Accessible and compelling, The Eureka Factor is a fascinating look at the human brain and its seemingly infinite capacity to surprise us. Praise for The Eureka Factor “Delicious . . . In The Eureka Factor, neuroscientists John Kounios and Mark Beeman give many other examples of [a] kind of lightning bolt of insight, but back this up with the latest brain-imaging research.”—Newsweek “An incredible accomplishment . . . [The Eureka Factor] is not just a chronicle of the journey that numerous scientists (including the authors) have taken to examine insight but is also a fascinating guide to how advances in science are made in general. Messrs. Kounios and Beeman examine how a parade of clever experiments can be designed to answer specific questions and rule out alternative possibilities. . . . Wonderful ideas appear as if out of nowhere—and we are delighted.”—The Wall Street Journal “An excellent title for those interested in neuroscience or creativity . . . The writing is engaging and readable, mixing stories of famous perceptions with explanations of how such revelations happen.”—Library Journal (starred review) “A lively and accessible ‘brain’ book with wide appeal.”—Booklist “[An] ingenious, thoughtful update on how the mind works.”—Kirkus Reviews “The Eureka Factor presents a fascinating and illuminating account of the creative process and how to foster it.”—James J. Heckman, Nobel laureate in economics




The Churchill Factor


Book Description

From London’s inimitable mayor, Boris Johnson, the New York Times–bestselling story of how Churchill’s eccentric genius shaped not only his world but our own. On the fiftieth anniversary of Churchill’s death, Boris Johnson celebrates the singular brilliance of one of the most important leaders of the twentieth century. Taking on the myths and misconceptions along with the outsized reality, he portrays—with characteristic wit and passion—a man of contagious bravery, breathtaking eloquence, matchless strategizing, and deep humanity. Fearless on the battlefield, Churchill had to be ordered by the king to stay out of action on D-day; he pioneered aerial bombing and few could match his experience in organizing violence on a colossal scale, yet he hated war and scorned politicians who had not experienced its horrors. He was the most famous journalist of his time and perhaps the greatest orator of all time, despite a lisp and the chronic depression he kept at bay by painting. His maneuvering positioned America for entry into World War II, even as it ushered in England’s postwar decline. His open-mindedness made him a trailblazer in health care, education, and social welfare, though he remained incorrigibly politically incorrect. Most of all, he was a rebuttal to the idea that history is the story of vast and impersonal forces; he is proof that one person—intrepid, ingenious, determined—can make all the difference.




Losing the Nobel Prize: A Story of Cosmology, Ambition, and the Perils of Science's Highest Honor


Book Description

"Riveting."—Science A Forbes, Physics Today, Science News, and Science Friday Best Science Book Of 2018 Cosmologist and inventor of the BICEP (Background Imaging of Cosmic Extragalactic Polarization) experiment, Brian Keating tells the inside story of the mesmerizing quest to unlock cosmology’s biggest mysteries and the human drama that ensued. We follow along on a personal journey of revelation and discovery in the publish-or-perish world of modern science, and learn that the Nobel Prize might hamper—rather than advance—scientific progress. Fortunately, Keating offers practical solutions for reform, providing a vision of a scientific future in which cosmologists may finally be able to see all the way back to the very beginning.




Why Nations Fail


Book Description

Brilliant and engagingly written, Why Nations Fail answers the question that has stumped the experts for centuries: Why are some nations rich and others poor, divided by wealth and poverty, health and sickness, food and famine? Is it culture, the weather, geography? Perhaps ignorance of what the right policies are? Simply, no. None of these factors is either definitive or destiny. Otherwise, how to explain why Botswana has become one of the fastest growing countries in the world, while other African nations, such as Zimbabwe, the Congo, and Sierra Leone, are mired in poverty and violence? Daron Acemoglu and James Robinson conclusively show that it is man-made political and economic institutions that underlie economic success (or lack of it). Korea, to take just one of their fascinating examples, is a remarkably homogeneous nation, yet the people of North Korea are among the poorest on earth while their brothers and sisters in South Korea are among the richest. The south forged a society that created incentives, rewarded innovation, and allowed everyone to participate in economic opportunities. The economic success thus spurred was sustained because the government became accountable and responsive to citizens and the great mass of people. Sadly, the people of the north have endured decades of famine, political repression, and very different economic institutions—with no end in sight. The differences between the Koreas is due to the politics that created these completely different institutional trajectories. Based on fifteen years of original research Acemoglu and Robinson marshall extraordinary historical evidence from the Roman Empire, the Mayan city-states, medieval Venice, the Soviet Union, Latin America, England, Europe, the United States, and Africa to build a new theory of political economy with great relevance for the big questions of today, including: - China has built an authoritarian growth machine. Will it continue to grow at such high speed and overwhelm the West? - Are America’s best days behind it? Are we moving from a virtuous circle in which efforts by elites to aggrandize power are resisted to a vicious one that enriches and empowers a small minority? - What is the most effective way to help move billions of people from the rut of poverty to prosperity? More philanthropy from the wealthy nations of the West? Or learning the hard-won lessons of Acemoglu and Robinson’s breakthrough ideas on the interplay between inclusive political and economic institutions? Why Nations Fail will change the way you look at—and understand—the world.




Schelling's Game Theory


Book Description

Nobel Prize winner Thomas Schelling taught a course in game theory and rational choice to advanced students and government officials for 45 years. In this book, Robert Dodge provides in language for a broad audience the concepts that Schelling taught. Armed with Schelling's understanding of game theory methods and his approaches to problems, the general reader can improve daily decision making.