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Why did economists fail to foresee the 2008 global financial crisis? In this engaging history, Gorton answers that question through an exercise in what might be called the epistemology of modern economics.
Pettis asserts that the world economy suffers from unsustainable imbalances that must be eliminated.
In McKinnon’s view, the dollar-based international financial system has become fragile, due in part to U.S. policies. But it can be strengthened, McKinnon believes, especially with help from China.
Goldacre, a British physician, articulately and extensively documents how large pharmaceutical firms have inched up as close as possible to committing outright fraud and occasionally have crossed the threshold.
Freeland, a journalist and editor at Thomson Reuters, examines how a fairly diverse new class of plutocrats came to be and explores some of the consequences and potential implications of its rise.
The National Intelligence Council (NIC), the forward-looking think tank of the U.S. intelligence community, has produced its latest quadrennial assessment of global trends, a forecast of how the world might change between now and 2030.
Most history is about what happened and why. An attractive feature of this book about the financial crisis of 2008, written by the chair of the Federal Deposit Insurance Corporation (FDIC) at the time, is that it covers many official responses to the crisis that were considered but not carried out.
Muller, a physicist, considers the future of energy use in terms of elementary physics (what is technically possible) and elementary economics (how much it will cost).
Without taking an institutional position, the IMF has performed a useful service in sponsoring this symposium on the use of fiscal instruments—specifically, a tax on emissions of greenhouse gases, especially carbon dioxide—to mitigate climate change.
Nolan, a British economist, answers the question in his title with a resounding no.
Most analyses of development and poverty alleviation focus on overall economic growth and the design of particular economic programs. In contrast, this book focuses on particular leaders who launched successful efforts to help the poorest (usually rural) members of their societies, drawing attention to the consummate political skills necessary to implement even well-conceived policies.
The justification for creating temporary monopolies through patents and copyrights is that they encourage creative activity that would not otherwise take place. But Raustiala and Sprigman argue that imitation -- which music labels and movie studios often consider theft -- frequently stimulates creativity rather than discouraging it.
Lin, the former chief economist of the World Bank, makes a case for what he calls a “new structuralist” approach to economic development. Drawing on the experience of many countries, especially China, he argues for an active role for government in fostering development, not only through the traditional provision of infrastructure and the enforcement of rules but also in identifying and supporting industries that contribute to growth.
In this engaging book, Janeway, a venture capitalist who trained as an economist, combines his academic erudition with lessons learned during 40 years of working in the financial sector. His novel argument is that financial bubbles can be expected to occur from time to time in modern economies and that on balance they contribute to positive economic transformations by financing new technologies, even though many of them inevitably prove to be false starts or dead ends.
Sharp increases in food prices in 2008 and again in 2012 reminded the world that food security cannot be taken for granted, especially for poor people. Can adequate food supplies be assured? Conway answers with a qualified yes.
This book is built around case studies of 15 state-owned oil companies, which together account for nearly 50 percent of global oil production and for 56 percent of the world’s proven conventional oil reserves. Its aim is to evaluate the performance of these companies in the exploration, development, refinement (where relevant), and distribution of oil and gas.
Marsh foresees a fifth industrial revolution, characterized by a greater dispersion of manufacturing around the world.
Tomasi is troubled not only by the political polarization of contemporary American politics but also by the apparent mutual incompatibility, and hence mutual antagonism, between libertarianism and claims for social justice that require some redistribution of income.
These two books describe how the United States’ role in former French Indochina developed during the 1950s; they are, in essence, pre-histories of the Vietnam War.
Sinn casts a skeptical eye toward some of the popular nostrums for climate change. He emphasizes the distinction between environmental objectives and policy instruments, arguing that evaluations of the instruments should be based on their actual contributions to objectives, and not on the good feelings that we may get from having simply done something.
Wong deftly evaluates the efforts of three Asian “tigers” -- Singapore, South Korea, and Taiwan -- to enter the biotechnology sector, seen by leaders in all three places as a vital industry of the future.
Turner makes the case that growth should not be sought as an end in itself in rich countries. Rather, the focus should be on creating economic freedom and making possible a wide range of employment opportunities.
This massive tome is the fifth in a series of official histories of the International Monetary Fund, made possible by the author’s access to internal IMF documents.
The authors of this study examine various efforts to restrict both inflows and outflows of capital and are left troubled by the potential effects of overly aggressive restrictions.
This volume is a collection of conference papers written mainly for professionals engaged in the complex, multidisciplinary process of disease eradication, which requires the cooperation of thousands of people, including practitioners in small clinics all over the world.
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