Social Economics

Why do conservatives have such a hard time winning the economic debate in the court of public opinion? Simple, George Gilder says: Conservatives misunderstand economics almost as badly as liberals do. Republicans have been running on tax cut proposals since the era of Harding and Coolidge without seriously addressing the key problems of a global economy in decline. Enough is enough.

David Stockman was the architect of the Reagan Revolution that was meant to restore sound money principles to the U.S. government. It failed, derailed by politics, special interests, welfare, and warfare. Stockman describes how the working of free markets and democracy has long been under threat in America and provides a surprising, nonpartisan catalog of the corrupters and defenders. His analysis shows how both liberal and neoconservative interference in markets has proved damaging and often dangerous.

Malcolm Gladwell has long relished the opportunity to skewer the upper echelons of higher education, from the institution of U.S. News & World Report’s Best College rankings to the LSATs to the luxe Bowdoin College cafeteria. I Hate the Ivy League: Riffs and Rants on Elite Education, upends the traditional thinking around how education should work and tries to get to the bottom of why we often reward the wrong people.

From TV's Real Housewives to The Wolf of Wall Street, our popular culture portrays the wealthy as materialistic and entitled. But what do we really know about those who live on "easy street"? In this penetrating book, Rachel Sherman draws on rare in-depth interviews that she conducted with 50 affluent New Yorkers - including hedge fund financiers and corporate lawyers, professors and artists, and stay-at-home mothers - to examine their lifestyle choices and their understanding of privilege.

The leisure class has been replaced by a new elite. Highly educated and defined by cultural capital rather than income bracket, these individuals earnestly buy organic, carry NPR tote bags, and breast-feed their babies. They care about discreet, inconspicuous consumption. In The Sum of Small Things, Elizabeth Currid-Halkett dubs this segment of society "the aspirational class" and discusses how, through deft decisions about education, health, parenting, and retirement, the aspirational class deepens the ever-wider class divide.

In 1927, classical liberalism, based on a belief in individualism, reason, capitalism, and free trade, was dying, when one of the 20th century's greatest social thinkers wrote this combative and convincing restatement. Nowhere are the key principles of Mises' philosophy better represented than in this timeless work. Mises was a careful and logical theoretician who believed that ideas rule the world, and this especially comes to light in Liberalism.

Over the past four decades, China's remarkable transformation has garnered admiration but also sparked concern. George Magnus draws on his intimate knowledge of this dynamic nation to uncover the origins of its ascent and show why the economic traps it faces at home and the political challenges it faces abroad pose a serious threat to its continued rise.

The current global financial crisis carries a "made in America" label. In this forthright and incisive book, Nobel Laureate Joseph E. Stiglitz explains how America exported bad economics, bad policies, and bad behavior to the rest of the world, only to cobble together a haphazard and ineffective response when the markets finally seized up.

In a tempestuous narrative that sweeps across five continents and seven centuries, this book explains how a succession of catastrophes—from the devastating Black Death of 1350 through the coming climate crisis of 2050—has produced a relentless succession of rising empires and fading world orders.

A bold and urgent argument by economist and former bank governor Mark Carney on the radical, foundational change that is required if we are to build an economy and society based not on market values but on human values.

Today we think statistics are the enemy, numbers used to mislead and confuse us. That’s a mistake, Tim Harford says in The Data Detective. We shouldn’t be suspicious of statistics - we need to understand what they mean and how they can improve our lives: they are, at heart, human behavior seen through the prism of numbers and are often “the only way of grasping much of what is going on around us”.

No one, from economists to bankers to politicians, has been able to quantify exactly how much of the world's assets are currently hidden - until now. Gabriel Zucman is the first economist to offer reliable insight into the actual extent of the world's money held in tax havens. And it's staggering. In The Hidden Wealth of Nations, Zucman offers an inventive and sophisticated approach to quantifying how big the problem is, how tax havens work and are organized, and how we can begin to approach a solution.

In Disunited Nations, geopolitical strategist Peter Zeihan presents a series of counterintuitive arguments about the future of a world where trade agreements are coming apart and international institutions are losing their power. Germany will decline as the most powerful country in Europe, with France taking its place. Every country should prepare for the collapse of China, not North Korea. We are already seeing, as Zeihan predicts, a shift in outlook on the Middle East: it is no longer Iran that is the region’s most dangerous threat, but Saudi Arabia.

For years, America has been plagued by slow economic growth and increasing inequality. In The Captured Economy, Brink Lindsey and Steven M. Teles identify a common factor behind these twin ills: breakdowns in democratic governance that allow wealthy special interests to capture the policymaking process for their own benefit.

The Great Recession, institutional dysfunction, a growing divide between urban and rural prospects, and failed efforts to effectively address immigration have paved the way for a populist backlash that disrupts the postwar bargain between political elites and citizens. Whether today's populism represents a corrective to unfair and obsolete policies or a threat to liberal democracy remains up for debate. To respond to today's crisis, good leaders must strive for inclusive economic growth while addressing social and cultural issues, including demographic anxiety, with frank attention.

You may be surprised to learn that microchips are the new oil—the scarce resource on which the modern world depends. Today, military, economic, and geopolitical power are built on a foundation of computer chips. Virtually everything—from missiles to microwaves—runs on chips, including cars, smartphones, the stock market, even the electric grid. Until recently, America designed and built the fastest chips and maintained its lead as the #1 superpower, but America’s edge is in danger of slipping, undermined by players in Taiwan, Korea, and Europe taking over manufacturing.

In this revolutionary book, renowned MIT economists Abhijit V. Banerjee and Esther Duflo take on this challenge, building on cutting-edge research in economics explained with lucidity and grace. Original, provocative, and urgent, Good Economics for Hard Times makes a persuasive case for an intelligent interventionism and a society built on compassion and respect. It is an extraordinary achievement, one that shines a light to help us appreciate and understand our precariously balanced world.

The world must reach negative greenhouse gas emissions by 2050 to avoid the most catastrophic effects of climate change. Yet no single plan has addressed the full scope of the problem - until now. In The 100% Solution, Solomon Goldstein-Rose - a leading millennial climate activist and a former Massachusetts state representative - makes clear what needs to happen to hit the 2050 target: the manufacturing booms we must spur, the moonshot projects we must fund, the amount of CO2 we'll have to sequester from the atmosphere, and much more.

The world is being shaken by the collision of energy, climate change, and the clashing power of nations in a time of global crisis. The "shale revolution" in oil and gas - made possible by fracking technology, but not without controversy - has transformed the American economy, ending the "era of shortage", but introducing a turbulent new era. Almost overnight, the United States has become the world's number one energy powerhouse - and, during the coronavirus crisis, brokered a tense truce between Russia and Saudi Arabia.

Getting in is only half the battle. The Privileged Poor reveals how - and why - disadvantaged students struggle at elite colleges and explains what schools can do differently if these students are to thrive. The Ivy League looks different than it used to. College presidents and deans of admission have opened their doors - and their coffers - to support a more diverse student body. But is it enough just to admit these students? In The Privileged Poor, Anthony Jack reveals that the struggles of less privileged students continue long after they've arrived on campus.