Social Economics

Since 1946, Henry Hazlitt's best-selling Economics in One Lesson has popularized the belief that economics can be boiled down to one simple lesson: market prices represent the true cost of everything. But one-lesson economics tells only half the story. It can explain why markets often work so well, but it can't explain why they often fail so badly - or what we should do when they stumble. In Economics in Two Lessons, John Quiggin teaches both lessons, offering a masterful introduction to the key ideas behind the successes - and failures - of free markets.

The rise of the Tea Party and the 2010 election results revealed that tens of millions of Americans are alarmed by big government but skeptical that anything can or will be done to stop the growth of the state. In Free Market Revolution, the keepers of Ayn Rand’s legacy argue that the answer lies in Rand’s pioneering philosophy of capitalism and self-interest—a philosophy that more and more people are turning to for answers.

In this Very Short Introduction, Philip N. Jefferson explores how the answers to these questions lie in the social, political, economic, educational, and technological processes that impact all of us throughout our lives. The degree of vulnerability is all that differentiates us. He shows how a person's level of vulnerability to adverse changes in their life is very much dependent on the circumstances of their birth, including where their family lived, whether it was peacetime or wartime, whether they had access to clean water, and whether they are male or female.

A real-life thriller about the most tumultuous period in America's financial history by an acclaimed New York Times reporter. Andrew Ross Sorkin delivers the first true, behind-the-scenes, moment-by-moment account of how the greatest financial crisis since the Great Depression developed into a global tsunami.

Catherine Coleman Flowers grew up in Lowndes County, Alabama, a place that’s been called “Bloody Lowndes” because of its violent, racist history. Once the epicenter of the voting rights struggle, today it’s Ground Zero for a new movement that is Flowers’s life’s work. It’s a fight to ensure human dignity through a right most Americans take for granted: basic sanitation. Too many people, especially the rural poor, lack an affordable means of disposing cleanly of the waste from their toilets, and, as a consequence, live amid filth.

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.

In The Road to Freedom, Nobel prize winner Joseph E. Stiglitz dissects America's current economic system and the political ideology that created it, laying bare their twinned failure. Free and unfettered markets have exploited consumers, workers, and the environment alike. These movements now pose a real threat to true economic and political freedom.

Eighteen years after the genocide that made Rwanda international news, yet left it all but abandoned by the West, the country has achieved a miraculous turnaround. Rising out of the complete devastation of a failed state, Rwanda has emerged on the world stage yet again - this time with a unique model for governance and economic development under the leadership of its strong and decisive president, Paul Kagame. Here, Patricia Crisafulli and Andrea Redmond look at Kagame’s leadership.

The Travels of a T-Shirt in the Global Economy is a critically acclaimed narrative that illuminates the globalization debates and reveals the key factors to success in global business. Tracing a T-shirt's life story from a Texas cotton field to a Chinese factory and back to a US storefront before arriving at the used clothing market in Africa, the book uncovers the political and economic forces at work in the global economy.

John Brockman, editor of This Will Make You Smarter, presents his latest thought-provoking audiobook, featuring insights from leading thinkers such as Steven Pinker, Lisa Randall, Matt Ridley, and Daniel C. Dennett. Drawing from the horizons of science, today's leading thinkers reveal the hidden threats nobody is talking about - and expose the false fears everyone else is distracted by. Encompassing neuroscience, economics, philosophy, physics, psychology, biology, and more - here are 150 ideas that will revolutionize your understanding of the world.

A close reading of the Gospels, taking history and archaeology into account, demolishes the myth of a socialist Jesus.

Parents everywhere want their children to be happy and do well. Yet how parents seek to achieve this ambition varies enormously. Through personal anecdotes and original research, Matthias Doepke and Fabrizio Zilibotti reveal that in countries with increasing economic inequality, such as the United States, parents push harder to ensure their children have a path to security and success.

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”.

Upward mobility through the path of higher education has been an article of faith for generations of working-class, low-income, and immigrant college students. While we know this path usually entails financial sacrifices and hard work, very little attention has been paid to the deep personal compromises such students have to make as they enter worlds vastly different from their own.

It can be said of very few books that the world was changed as a result of its publication - but this is certainly the case of Capital: A Critique of Political Economy by Karl Marx (1818-1883). Volume 1 appeared (in German) in 1867, and the two subsequent volumes appeared at later dates after the author's death - completed from extensive notes left by Marx himself.

Governments have always struggled to tax in ways that are effective and tolerably fair. Sometimes they fail grotesquely, as when, in 1898, the British ignited a rebellion in Sierra Leone by imposing a tax on huts - and, in repressing it, ended up burning the very huts they intended to tax. Sometimes they succeed astonishingly, as when, in 18th-century Britain, a cut in the tax on tea massively increased revenue. Two leading authorities on taxation provide a fascinating and informative tour through these and many other episodes in tax history, both preposterous and dramatic....

There has always been some gap between rich and poor in this country, but in the last few decades what it means to be rich has changed dramatically. Alarmingly, the greatest income gap is not between the 1 percent and the 99 percent, but within the wealthiest 1 percent of our nation-as the merely wealthy are left behind by the rapidly expanding fortunes of the new global super-rich. Forget the 1 percent; Plutocrats proves that it is the wealthiest 0.1 percent who are outpacing the rest of us at break-neck speed.

Segregation by Design draws on more than 100 years of quantitative and qualitative data from thousands of American cities to explore how local governments generate race and class segregation. Starting in the early 20th century, cities have used their power of land use control to determine the location and availability of housing, amenities (such as parks), and negative land uses (such as garbage dumps). The result has been segregation - first within cities and more recently between them.

Milton Friedman is one of the most famous economists in history. His writings and theories on everything from capitalism and freedom to deregulation and welfare have inspired movements, influenced government policies, and changed the course of America’s economic history. Now, acclaimed Friedman biographer Lanny Ebenstein brings together 20 of Friedman’s greatest essays in The Indispensable Milton Friedman: Essays on Politics and Economics.

The United States is becoming a nation of rich and poor, with few families in the middle. In this book, MIT economist Peter Temin offers an illuminating way to look at the vanishing middle class. Temin argues that American history and politics, particularly slavery and its aftermath, play an important part in the widening gap between rich and poor. Temin employs a well-known, simple model of a dual economy to examine the dynamics of the rich/poor divide in America.