Book picks similar to
Hidden Order: The Economics of Everyday Life by David D. Friedman
economics
non-fiction
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econ
The Penguin and the Leviathan: The Triumph of Cooperation Over Self-Interest
Yochai Benkler - 2011
Because today, when the costs of collaborating are lower than ever before, there are no limits to what we can achieve by working together.For centuries, we as a society have operated according to a very unflattering view of human nature: that, humans are universally and inherently selfish creatures. As a result, our most deeply entrenched social structures - our top-down business models, our punitive legal systems, our market-based approaches to everything from education reform to environmental regulation - have been built on the premise that humans are driven only by self interest, programmed to respond only to the invisible hand of the free markets or the iron fist of a controlling government.In the last decade, however, this fallacy has finally begun to unravel, as hundreds of studies conducted across dozens of cultures have found that most people will act far more cooperatively than previously believed. Here, Harvard University Professor Yochai Benkler draws on cutting-edge findings from neuroscience, economics, sociology, evolutionary biology, political science, and a wealth of real world examples to debunk this long-held myth and reveal how we can harness the power of human cooperation to improve business processes, design smarter technology, reform our economic systems, maximize volunteer contributions to science, reduce crime, improve the efficacy of civic movements, and more.For example, he describes how: - By building on countless voluntary contributions, open-source software communities have developed some of the most important infrastructure on which the World Wide Web runs - Experiments with pay-as-you-wish pricing in the music industry reveal that fans will voluntarily pay far more for their favorite music than economic models would ever predic - Many self-regulating communities, from the lobster fishermen of Maine to farmers in Spain, live within self-regulating system for sharing and allocating communal resources - Despite recent setbacks, Toyota's collaborative shop-floor, supply chain, and management structure contributed to its meteoric rise above its American counterparts for over a quarter century. - Police precincts across the nation have managed to reduce crime in tough neighborhoods through collaborative, trust-based, community partnerships.A must-read for anyone who wants to understand the dynamics of cooperation in 21st century life, The Penguin and the Leviathan not only challenges so many of the ways in which we live and work, it forces us to rethink our entire view of human nature.
An Essay on the Principle of Population
Thomas Robert Malthus - 1798
In many countries, supplies of food and water are inadequate to support the population, so the world falls deeper and deeper into what economists call the "Malthusian trap."Here, Malthus examines the tendency of human numbers to outstrip their resources, and argues that poverty, disease, and starvation are necessary to keep societies from moving beyond their means of subsistence.Public Domain (P)2013 Audible Ltd
The Trillion Dollar Meltdown: Easy Money, High Rollers, and the Great Credit Crash
Charles R. Morris - 2008
Arcane credit derivative bets are now well into the tens of trillions. According to Charles R. Morris, the astronomical leverage at investment banks and their hedge fund and private equity clients virtually guarantees massive disruption in global markets. The crash, when it comes, will have no firebreaks. A quarter century of free-market zealotry that extolled asset stripping, abusive lending, and hedge fund secrecy will come crashing down with it.The Trillion Dollar Meltdown explains how we got here, and what is about to happen. After the crash our priorities will be quite different. But things are likely to get worse before they better. Whether you are an active investor, a homeowner, or a contributor to your 401(k) plan, The Trillion Dollar Meltdown will be indispensable to understanding the gross excess that has put the world economy on the brink--and what the new landscape will look like.
Americana: A 400-Year History of American Capitalism
Bhu Srinivasan - 2017
Americana takes us on a four-hundred-year journey of this spirit of innovation and ambition through a series of Next Big Things -- the inventions, techniques, and industries that drove American history forward: from the telegraph, the railroad, guns, radio, and banking to flight, suburbia, and sneakers, culminating with the Internet and mobile technology at the turn of the twenty-first century. The result is a thrilling alternative history of modern America that reframes events, trends, and people we thought we knew through the prism of the value that, for better or for worse, this nation holds dearest: capitalism.In a winning, accessible style, Bhu Srinivasan boldly takes on four centuries of American enterprise, revealing the unexpected connections that link them. We learn how Andrew Carnegie's early job as a telegraph messenger boy paved the way for his leadership of the steel empire that would make him one of the nation's richest men; how the gunmaker Remington reinvented itself in the postwar years to sell typewriters; how the inner workings of the Mafia mirrored the trend of consolidation and regulation in more traditional business; and how a 1950s infrastructure bill triggered a series of events that produced one of America's most enduring brands: KFC. Reliving the heady early days of Silicon Valley, we are reminded that the start-up is an idea as old as America itself.Entertaining, eye-opening, and sweeping in its reach, Americana is an exhilarating new work of narrative history.
The Half-life of Facts: Why Everything We Know Has an Expiration Date
Samuel Arbesman - 2012
Smoking has gone from doctor recommended to deadly. We used to think the Earth was the center of the universe and that Pluto was a planet. For decades, we were convinced that the brontosaurus was a real dinosaur. In short, what we know about the world is constantly changing. But it turns out there’s an order to the state of knowledge, an explanation for how we know what we know. Samuel Arbesman is an expert in the field of scientometrics—literally the science of science. Knowledge in most fields evolves systematically and predictably, and this evolution unfolds in a fascinating way that can have a powerful impact on our lives. Doctors with a rough idea of when their knowledge is likely to expire can be better equipped to keep up with the latest research. Companies and governments that understand how long new discoveries take to develop can improve decisions about allocating resources. And by tracing how and when language changes, each of us can better bridge generational gaps in slang and dialect. Just as we know that a chunk of uranium can break down in a measurable amount of time—a radioactive half-life—so too any given field’s change in knowledge can be measured concretely. We can know when facts in aggregate are obsolete, the rate at which new facts are created, and even how facts spread. Arbesman takes us through a wide variety of fields, including those that change quickly, over the course of a few years, or over the span of centuries. He shows that much of what we know consists of “mesofacts”—facts that change at a middle timescale, often over a single human lifetime. Throughout, he offers intriguing examples about the face of knowledge: what English majors can learn from a statistical analysis of The Canterbury Tales, why it’s so hard to measure a mountain, and why so many parents still tell kids to eat their spinach because it’s rich in iron. The Half-life of Facts is a riveting journey into the counterintuitive fabric of knowledge. It can help us find new ways to measure the world while accepting the limits of how much we can know with certainty.
More: The 10,000-Year Rise of the World Economy
Philip Coggan - 2020
Coggan's account of the rise of the world economy is accessible and mercifully free of jargon'Sunday TimesMore tracks the development of the world economy, starting with the first obsidian blades that made their way from what is now Turkey to the Iran-Iraq border 7000 years before Christ, and ending with the Sino-American trade war that we are in right now.Taking history in great strides, More illustrates broad changes by examining details from the design of the standard medieval cottage to the stranglehold that Paris's three belt-buckle-making guilds exercised over innovation in the field of holding up trousers. Along the way Coggan reveals that historical economies were far more sophisticated than we might imagine - tied together by webs of credit and financial instruments much like the modern economy.Coggan shows how, at every step of our long journey, it was connections between people - allowing more trade, more specialisation, more ideas and more freedom - that always created the conditions of prosperity.
The Systems View of Life: A Unifying Vision
Fritjof Capra - 2014
New emphasis has been given to complexity, networks, and patterns of organisation, leading to a novel kind of 'systemic' thinking. This volume integrates the ideas, models, and theories underlying the systems view of life into a single coherent framework. Taking a broad sweep through history and across scientific disciplines, the authors examine the appearance of key concepts such as autopoiesis, dissipative structures, social networks, and a systemic understanding of evolution. The implications of the systems view of life for health care, management, and our global ecological and economic crises are also discussed. Written primarily for undergraduates, it is also essential reading for graduate students and researchers interested in understanding the new systemic conception of life and its implications for a broad range of professions - from economics and politics to medicine, psychology and law.
Broke, USA: From Pawnshops to Poverty, Inc. - How the Working Poor Became Big Business
Gary Rivlin - 2010
Broke, USA is a Fast Food Nation for the “poverty industry” that will also appeal to readers of Barbara Ehrenreich (Nickel and Dimed) and David Shipler (The Working Poor).
When Corporations Rule the World
David C. Korten - 1995
Korten's warnings about the growing global power of multinational corporations seem prophetic today. This new edition has been revised throughout to make it more accessible to the general reader, and features a new introduction, a new epilogue, and three new chapters. While Korten points out that the multinationals are, if anything, more powerful now than they were when he first wrote the book, he also offers reason for hope: the growth of the international Living Democracy movement opposing corporate rule. The new material in the book: Documents the consolidation since 1995 of financial and corporate power at the expense of democracy, people, communities, and the planet Looks in depth at the nature and cultural underpinnings of the burgeoning Living Democracy movement to resist corporate power Offers a vision of a what a civil society grounded in life-centered values rather than immediate financial gain might look like.
Thinking in Systems: A Primer
Donella H. Meadows - 2008
Edited by the Sustainability Institute’s Diana Wright, this essential primer brings systems thinking out of the realm of computers and equations and into the tangible world, showing readers how to develop the systems-thinking skills that thought leaders across the globe consider critical for 21st-century life.Some of the biggest problems facing the world—war, hunger, poverty, and environmental degradation—are essentially system failures. They cannot be solved by fixing one piece in isolation from the others, because even seemingly minor details have enormous power to undermine the best efforts of too-narrow thinking.While readers will learn the conceptual tools and methods of systems thinking, the heart of the book is grander than methodology. Donella Meadows was known as much for nurturing positive outcomes as she was for delving into the science behind global dilemmas. She reminds readers to pay attention to what is important, not just what is quantifiable, to stay humble, and to stay a learner.In a world growing ever more complicated, crowded, and interdependent, Thinking in Systems helps readers avoid confusion and helplessness, the first step toward finding proactive and effective solutions.
The Economy of Cities
Jane Jacobs - 1969
Her main argument is that explosive economic growth derives from urban import replacement. Import replacement occurs when a city begins to locally produce goods that it formerly imported, e.g., Tokyo bicycle factories replacing Tokyo bicycle importers in the 1800s. Jacobs claims that import replacement builds up local infrastructure, skills, and production. Jacobs also claims that the increased production is subsequently exported to other cities, giving those other cities a new opportunity to engage in import replacement, thus producing a positive cycle of growth.In the foremost chapter of the book, Jacobs argues that cities preceded agriculture. She argues that in cities trade in wild animals and grains allowed for the initial division of labor necessary for the discovery of husbandry and agriculture; these discoveries then moved out of the city due to land competition.*from Wikpedia
The Price of Peace: Money, Democracy, and the Life of John Maynard Keynes
Zachary D. Carter - 2020
Writing a full two years before Keynes would revolutionize the economics world with the publication of The General Theory, Woolf nevertheless found herself unable to condense her friend's already-extraordinary life into anything less than twenty-five themes, which she jotted down at the opening of her homage: "Politics. Art. Dancing. Letters. Economics. Youth. The Future. Glands. Genealogies. Atlantis. Mortality. Religion. Cambridge. Eton. The Drama. Society. Truth. Pigs. Sussex. The History of England. America. Optimism. Stammer. Old Books. Hume."Keynes was not only an economist, as he is remembered today, but the preeminent anti-authoritarian thinker of the twentieth century, a man who devoted his life to the belief that art and ideas could conquer war and deprivation. A moral philosopher, political theorist, and statesman, Keynes immersed himself in a creative milieu filled with ballerinas and literary icons as he developed his own innovative and at times radical thought, reinventing Enlightenment liberalism for the harrowing crises of his day--which included two world wars and an economic collapse that challenged the legitimacy of democratic government itself. The Price of Peace follows Keynes from intimate turn-of-the-century parties in London's riotous Bloomsbury art scene to the fevered negotiations in Paris that shaped the Treaty of Versailles, through stock market crashes and currency crises to diplomatic breakthroughs in the mountains of New Hampshire and wartime ballet openings at Covent Garden.In this riveting biography, veteran journalist Zachary D. Carter unearths the lost legacy of one of history's most important minds. John Maynard Keynes's vibrant, deeply human vision of democracy, art, and the good life has been obscured by technical debates, but in The Price of Peace, Carter revives a forgotten set of ideas with the power to reinvent national government and reframe the principles of international diplomacy in our own time.
Economics Rules: The Rights and Wrongs of the Dismal Science
Dani Rodrik - 2015
. . . In setting out a defence of the best in economics, Rodrik has also provided a goal for the discipline as a whole.” —Martin Sandbu, Financial Times In the wake of the financial crisis and the Great Recession, economics seems anything but a science. In this sharp, masterfully argued book, Dani Rodrik, a leading critic from within, takes a close look at economics to examine when it falls short and when it works, to give a surprisingly upbeat account of the discipline. Drawing on the history of the field and his deep experience as a practitioner, Rodrik argues that economics can be a powerful tool that improves the world—but only when economists abandon universal theories and focus on getting the context right. Economics Rules argues that the discipline's much-derided mathematical models are its true strength. Models are the tools that make economics a science. Too often, however, economists mistake a model for the model that applies everywhere and at all times. In six chapters that trace his discipline from Adam Smith to present-day work on globalization, Rodrik shows how diverse situations call for different models. Each model tells a partial story about how the world works. These stories offer wide-ranging, and sometimes contradictory, lessons—just as children’s fables offer diverse morals. Whether the question concerns the rise of global inequality, the consequences of free trade, or the value of deficit spending, Rodrik explains how using the right models can deliver valuable new insights about social reality and public policy. Beyond the science, economics requires the craft to apply suitable models to the context. The 2008 collapse of Lehman Brothers challenged many economists' deepest assumptions about free markets. Rodrik reveals that economists' model toolkit is much richer than these free-market models. With pragmatic model selection, economists can develop successful antipoverty programs in Mexico, growth strategies in Africa, and intelligent remedies for domestic inequality. At once a forceful critique and defense of the discipline, Economics Rules charts a path toward a more humble but more effective science.
Everything is Obvious: Once You Know the Answer
Duncan J. Watts - 2011
As sociologist and network science pioneer Duncan Watts explains in this provocative book, the explanations that we give for the outcomes that we observe in life—explanation that seem obvious once we know the answer—are less useful than they seem.Drawing on the latest scientific research, along with a wealth of historical and contemporary examples, Watts shows how common sense reasoning and history conspire to mislead us into believing that we understand more about the world of human behavior than we do; and in turn, why attempts to predict, manage, or manipulate social and economic systems so often go awry.It seems obvious, for example, that people respond to incentives; yet policy makers and managers alike frequently fail to anticipate how people will respond to the incentives they create. Social trends often seem to have been driven by certain influential people; yet marketers have been unable to identify these “influencers” in advance. And although successful products or companies always seem in retrospect to have succeeded because of their unique qualities, predicting the qualities of the next hit product or hot company is notoriously difficult even for experienced professionals.Only by understanding how and when common sense fails, Watts argues, can we improve how we plan for the future, as well as understand the present—an argument that has important implications in politics, business, and marketing, as well as in science and everyday life.
The Tyranny of Experts: Economists, Dictators, and the Forgotten Rights of the Poor
William Easterly - 2014
Yet all too often, experts recommend solutions that fix immediate problems without addressing the systemic political factors that created them in the first place. Further, they produce an accidental collusion with "benevolent autocrats,” leaving dictators with yet more power to violate the rights of the poor.In The Tyranny of Experts, economist William Easterly, bestselling author of The White Man’s Burden, traces the history of the fight against global poverty, showing not only how these tactics have trampled the individual freedom of the world’s poor, but how in doing so have suppressed a vital debate about an alternative approach to solving poverty: freedom. Presenting a wealth of cutting-edge economic research, Easterly argues that only a new model of development—one predicated on respect for the individual rights of people in developing countries, that understands that unchecked state power is the problem and not the solution —will be capable of ending global poverty once and for all.