Three Handed Economist


Book Description

"The book was originally inspired by Harry Truman who said, "Give me a one handed economist! All my economists say on the one hand... on the other." It is my contention that ideology can only operate to limit choice. By mitigating choices, growth stimulating accords are sometimes overlooked or simply ignored. As an empiricist, I advocate that no ideology is right or wrong, but that conditions and data are all that should drive our policy-making decisions. Every policy has a place where it will or will not work, a set of circumstances that make it function or malfunction, and conditions that promote or deny the benefits associated with that policy. My view on economic policy making and world poverty is unique to the literature, since it is precisely opposite to Harry Truman's desire. The world is complex; Harry Truman needed a Three Handed Economist, one hand was never enough. The world has many sectarian problems; luckily the United States has largely avoided such problems. However, the growing wealth gap, political divide, increasingly emboldened extremist groups, and the decline of compromise is certainly harming the nation's future outlook. Since much disagreement comes down to misinformation and misunderstanding, this book seeks to educate and inform to dissuade misunderstanding and misinformation within the United States. In the rest of the world, poor people are driven to make decisions they may not make if their lives were improved. Extreme poverty is a blight on humanity and the discussion is far too limited. Three Handed Economist addresses many issues relating to the popular grievances people have, discuss, and ultimately hold as a banner and reason to entrench their ideology."--Author's summary, Amazon.com.




The Grabbing Hand


Book Description

In many countries, public sector institutions impose heavy burdens on economic life. As a consequence of predatory policies, entrepreneurship lingers and economies stagnate. The authors of this collection describe many of these pathologies of a "grabbing hand" government, and examine their consequences for growth.




23 Things They Don't Tell You about Capitalism


Book Description

INTERNATIONAL BESTSELLER "For anyone who wants to understand capitalism not as economists or politicians have pictured it but as it actually operates, this book will be invaluable."-Observer (UK) If you've wondered how we did not see the economic collapse coming, Ha-Joon Chang knows the answer: We didn't ask what they didn't tell us about capitalism. This is a lighthearted book with a serious purpose: to question the assumptions behind the dogma and sheer hype that the dominant school of neoliberal economists-the apostles of the freemarket-have spun since the Age of Reagan. Chang, the author of the international bestseller Bad Samaritans, is one of the world's most respected economists, a voice of sanity-and wit-in the tradition of John Kenneth Galbraith and Joseph Stiglitz. 23 Things They Don't Tell You About Capitalism equips readers with an understanding of how global capitalism works-and doesn't. In his final chapter, "How to Rebuild the World," Chang offers a vision of how we can shape capitalism to humane ends, instead of becoming slaves of the market.




The Power of Strangers


Book Description

A “meticulously researched and buoyantly written” (Esquire) look at what happens when we talk to strangers, and why it affects everything from our own health and well-being to the rise and fall of nations in the tradition of Susan Cain’s Quiet and Yuval Noah Harari’s Sapiens “This lively, searching work makes the case that welcoming ‘others’ isn’t just the bedrock of civilization, it’s the surest path to the best of what life has to offer.”—Ayad Akhtar, Pulitzer Prize–winning author of Homeland Elegies In our cities, we stand in silence at the pharmacy and in check-out lines at the grocery store, distracted by our phones, barely acknowledging one another, even as rates of loneliness skyrocket. Online, we retreat into ideological silos reinforced by algorithms designed to serve us only familiar ideas and like-minded users. In our politics, we are increasingly consumed by a fear of people we’ve never met. But what if strangers—so often blamed for our most pressing political, social, and personal problems—are actually the solution? In The Power of Strangers, Joe Keohane sets out on a journey to discover what happens when we bridge the distance between us and people we don’t know. He learns that while we’re wired to sometimes fear, distrust, and even hate strangers, people and societies that have learned to connect with strangers benefit immensely. Digging into a growing body of cutting-edge research on the surprising social and psychological benefits that come from talking to strangers, Keohane finds that even passing interactions can enhance empathy, happiness, and cognitive development, ease loneliness and isolation, and root us in the world, deepening our sense of belonging. And all the while, Keohane gathers practical tips from experts on how to talk to strangers, and tries them out himself in the wild, to awkward, entertaining, and frequently poignant effect. Warm, witty, erudite, and profound, equal parts sweeping history and self-help journey, this deeply researched book will inspire readers to see everything—from major geopolitical shifts to trips to the corner store—in an entirely new light, showing them that talking to strangers isn’t just a way to live; it’s a way to survive.




The Big Three in Economics: Adam Smith, Karl Marx, and John Maynard Keynes


Book Description

History comes alive in this fascinating story of opposing views that continue to play a fundamental role in today's politics and economics. "The Big Three in Economics" traces the turbulent lives and battle of ideas of the three most influential economists in world history: Adam Smith, representing laissez faire; Karl Marx, reflecting the radical socialist model; and John Maynard Keynes, symbolizing big government and the welfare state. Each view has had a significant influence on shaping the modern world, and the book traces the development of each philosophy through the eyes of its creator. In the twenty-first century, Adam Smith's "invisible hand" model has gained the upper hand, and capitalism appears to have won the battle of ideas over socialism and interventionism. But author Mark Skousen shows that, even in the era of globalization and privatization, Keynesian and Marxian ideas continue to play a significant role in economic policy.




A World of Three Zeros


Book Description

A winner of the Nobel Peace Prize and bestselling author of Banker to the Poor offers his vision of an emerging new economic system that can save humankind and the planet Muhammad Yunus, who created microcredit, invented social business, and earned a Nobel Peace Prize for his work in alleviating poverty, is one of today's most trenchant social critics. Now he declares it's time to admit that the capitalist engine is broken -- that in its current form it inevitably leads to rampant inequality, massive unemployment, and environmental destruction. We need a new economic system that unleashes altruism as a creative force just as powerful as self-interest. Is this a pipe dream? Not at all. In the last decade, thousands of people and organizations have already embraced Yunus's vision of a new form of capitalism, launching innovative social businesses designed to serve human needs rather than accumulate wealth. They are bringing solar energy to millions of homes in Bangladesh; turning thousands of unemployed young people into entrepreneurs through equity investments; financing female-owned businesses in cities across the United States; bringing mobility, shelter, and other services to the rural poor in France; and creating a global support network to help young entrepreneurs launch their start-ups. In A World of Three Zeros, Yunus describes the new civilization emerging from the economic experiments his work has helped to inspire. He explains how global companies like McCain, Renault, Essilor, and Danone got involved with this new economic model through their own social action groups, describes the ingenious new financial tools now funding social businesses, and sketches the legal and regulatory changes needed to jumpstart the next wave of socially driven innovations. And he invites young people, business and political leaders, and ordinary citizens to join the movement and help create the better world we all dream of.




In Search of the Two-Handed Economist


Book Description

For the economics profession, issues of marketing and ideology have often been reduced to the status of 'the love that dare not speak its name'. This volume brings these issues out of the closet and examines what effect, if any, these factors have in shaping the contours of the discipline. The way in which economists face policy issues is in part driven, even if only subconsciously, by unacknowledged ideological concerns and the increasing need to sell one's theories, views and policies in a frustratingly competitive academic market. In seven carefully and provocatively granulated chapters, the volume raises possible implications of these marketing and ideological imperatives by approaching the problem from a number of surprising and irreverent directions. Though unfortunately, in its irrevocable denouement the text proves incapable of creating anything resembling a life changing experience let alone coming to any definite and irrefutable conclusions. Like life itself, economics is full of uncertainties and uncontrollable difficulties.




Theory of Games and Economic Behavior


Book Description

This is the classic work upon which modern-day game theory is based. What began as a modest proposal that a mathematician and an economist write a short paper together blossomed, when Princeton University Press published Theory of Games and Economic Behavior. In it, John von Neumann and Oskar Morgenstern conceived a groundbreaking mathematical theory of economic and social organization, based on a theory of games of strategy. Not only would this revolutionize economics, but the entirely new field of scientific inquiry it yielded--game theory--has since been widely used to analyze a host of real-world phenomena from arms races to optimal policy choices of presidential candidates, from vaccination policy to major league baseball salary negotiations. And it is today established throughout both the social sciences and a wide range of other sciences.




Economics in One Lesson


Book Description

With over a million copies sold, Economics in One Lesson is an essential guide to the basics of economic theory. A fundamental influence on modern libertarianism, Hazlitt defends capitalism and the free market from economic myths that persist to this day. Considered among the leading economic thinkers of the “Austrian School,” which includes Carl Menger, Ludwig von Mises, Friedrich (F.A.) Hayek, and others, Henry Hazlitt (1894-1993), was a libertarian philosopher, an economist, and a journalist. He was the founding vice-president of the Foundation for Economic Education and an early editor of The Freeman magazine, an influential libertarian publication. Hazlitt wrote Economics in One Lesson, his seminal work, in 1946. Concise and instructive, it is also deceptively prescient and far-reaching in its efforts to dissemble economic fallacies that are so prevalent they have almost become a new orthodoxy. Economic commentators across the political spectrum have credited Hazlitt with foreseeing the collapse of the global economy which occurred more than 50 years after the initial publication of Economics in One Lesson. Hazlitt’s focus on non-governmental solutions, strong — and strongly reasoned — anti-deficit position, and general emphasis on free markets, economic liberty of individuals, and the dangers of government intervention make Economics in One Lesson every bit as relevant and valuable today as it has been since publication.




Economics Unmasked


Book Description

An inspiring outline of a new economics system, where justice, human dignity, compassion and reverence for life are the guiding values. The economic system under which we live not only forces the great majority of humankind to live their lives in indignity and poverty but also threatens all forms of life on Earth. Economics Unmasked presents a cogent critique of the dominant economic system, showing that the theoretical constructions of mainstream economics work mainly to bring about injustice. The merciless onslaught on the global ecosystem of recent decades, brought about by the massive increase in the production of goods and the consequent depletion of nature's reserves, is not a chance property of the economic system. It is a direct result of neoliberal economic thinking, which recognizes value only in material things. The growth obsession is not a mistaken conception that mainstream economists can unlearn, it is inherent in their view of life. But a socio-economic system based on the growth obsession can never be sustainable. This book outlines the foundations of a new economics, where we are not ruled by greed and injustice. Contrary to the absurd assumption of mainstream economists that economics is a value-free science, a new economics must make its values explicit.