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Reading Room
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Book reviews

Productivity and Bonus Culture

Reviewer: Dame Kate Barker

Living standards in the UK and US are in danger of falling. A decline in growth due to poor productivity and an unfavourable change in demography has weakened the stand of liberal democracy, and voter dissatisfaction is encouraging populist policies that threaten even worse outcomes. Whilst living standards once grew faster than productivity they now grow more slowly, and the working population is no longer growing faster than the population as a whole. To avoid falling living standards the productivity problem must be addressed.

Forecasting: an essential introduction

Reviewer: Kevin Gardiner, Rothschild & Co

In this accessible and engaging guide, David Hendry, Michael Clements, and Jennifer Castle provide a concise and highly intuitive overview of the process and problems of forecasting.

Capitalism in America

Reviewer: Christine Shields

In Capitalism in America, Alan Greenspan, legendary Chair of the Federal Reserve, distils a lifetime of grappling with these questions into a profound assessment of the decisive drivers of the US economy over the course of its history. In partnership with Economist journalist and historian Adrian Wooldridge, he unfolds a tale of vast landscapes, titanic figures and triumphant breakthroughs as well as terrible moral failings.

The AI Economy:

Work, Wealth and Welfare in the Robot Age

Reviewer: Vicky Pryce, CEBR

Tackling the implications of Artificial Intelligence on growth, productivity, inflation and the distribution of wealth and power, THE AI ECONOMY also examines coming changes to the the way we educate, work and spend our leisure time.

Nine Crises:

50 years of covering the British economy - from devaluation to Brexit

Reviewer: Dr Rebecca Harding, CEO, Coriolis Technologies

Veteran financial journalist William Keegan has seen it all, from the 1967 devaluation to the three-day week, from Black Wednesday to the global financial crash of 2007 08. In a career that has seen him hop from Fleet Street to the Old Lady of Threadneedle Street and back again, he has nurtured connections with Chancellors of the Exchequer, Governors of the Bank of England, influential economists and Fleet Street legends.

A Good time to be a Girl:

A Guide to Thriving at Work and Living Well

Reviewer: Ian Bright, ING

From the founder of the worldwide 30% Club campaign comes a career book for women in a transforming world who don't just want to lean in, but instead, shatter the paradigm as we know it.

2 comments

Crashed: how a Decade of Financial Crisis changed the World

Reviewer: Ian Harwood

Crashed is a brilliantly original and assured analysis of what happened and how we were rescued from something even worse - but at a price which continues to undermine democracy across Europe and the United States.

People, Power and Profits:

Progressive Capitalism for an age of Discontent

Reviewer: Rosemary Connell

From Nobel Prize-winning economist and bestselling author Joseph Stiglitz, this account of the dangers of free market fundamentalism reveals what has gone so wrong, but also shows us a way out.

Inequalities in the UK:

New Discourses, Evolutions and Actions

Reviewer: Kevin Gardiner, member, Cardiff Capital Region City Deal Growth Partnership

The Bank of England and the Government Debt:

Operations in the Gilt‑Edged Market, 1928‑1972

Reviewer: John Shepperd, previously Economist, Mullens & Co

Drawing heavily on archival research, William A. Allen sheds light on little-known aspects of central-banking and monetary policy.

Currency, Credit and Crisis:

Central Banking in Ireland and Europe

Reviewer: William A Allen, NIESR

Drawing on his experiences as Governor of the Central Bank of Ireland and in research and policy work at the World Bank, Patrick Honohan offers a detailed analytical narrative of the origins of the crisis and of policy makers' conduct during its most fraught moments.

Are Chief Executives Overpaid?

Reviewer: Dame Kate Barker, Chairman, British Coal Staff Superannuation Scheme

In this hard-hitting book, Deborah Hargreaves explains why pay for the top 0.1% has sky-rocketed in the past 20 years.

The Art of Statistics:

Learning from Data

Reviewer: Bridget Rosewell, Volterra Partners

In The Art of Statistics, David Spiegelhalter guides the reader through the essential principles we need in order to derive knowledge from data.

The Chinese Economy

Adaption and Growth

Reviewer: Lavan Mahadeva, Research Director, CRU

The new edition of a comprehensive overview of the modern Chinese economy, revised to reflect the end of the “miracle growth” period.

The Cost‑Benefit Revolution

Reviewer: Jonah P Adaun

Why policies should be based on careful consideration of their costs and benefits rather than on intuition, popular opinion, interest groups, and anecdotes. Opinions on government policies vary widely. Some people feel passionately about the child obesity epidemic and support government regulation of sugary drinks. Others argue that people should be able to eat and drink whatever they like. Some people are alarmed about climate change and favor aggressive government intervention. Others don't feel the need for any sort of climate regulation. In The Cost-Benefit Revolution, Cass Sunstein argues our major disagreements really involve facts, not values

Federal Central Banks

A comparison of the US Federal Reserve and the European Central Bank

Reviewer: James Smith, Director of Research, Resolution Foundation

Federal Central Banks is a unique study that critically examines the role and impact of central banks in federal and confederal political systems.

Uncertain Futures

Imaginaries, Narratives, and Calculation in the Economy

Reviewer: William A Allen, Visitor, National Institute of Economic & Social Research

Uncertain Futures considers how economic actors visualize the future and decide how to act in conditions of radical uncertainty. It starts from the premise that dynamic capitalist economies are characterized by relentless innovation and novelty and hence exhibit an indeterminacy that cannot be reduced to measurable risk. The organizing question then becomes how economic actors form expectations and make decisions despite the uncertainty they face.

The Power of Capitalism

A journey through recent history across five continents

Reviewer: Vicky Pryce, Chief Economic Adviser, CEBR

“The market has failed, we need more government intervention." That’s the mantra politicians, the media, and intellectuals have been reiterating ever since the outbreak of the 2008 financial crisis. By taking the reader on a journey across continents and through recent history, Rainer Zitelmann disproves this call for greater government intervention, and demonstrates that capitalism matters more than ever.

Prosperity and Justice

A plan for the new economy - The Final Report of the IPPR Commission on Economic Justice

Reviewer: Dame Kate Barker, Chairman of Trustees, British Coal Staff Superannuation Scheme

The Final Report of the IPPR Commission on Economic Justice The UK economy is broken. It no longer provides rising living standards for the majority. Young people face an increasingly insecure future. The gap between rich and poor areas is widening. Meanwhile the rise of giant digital companies, the advance of automation, and catastrophic environmental degradation challenge the very foundations of our economic model. This important book analyses these profound challenges and sets out a bold vision for change.

Will China Save the Planet?

Reviewer: Bridget Rosewell

Now that Trump has turned the United States into a global climate outcast, will China take the lead in saving our planet from environmental catastrophe? Many signs point to yes. China, the world's largest carbon emitter, is leading a global clean energy revolution, phasing out coal consumption and leading the development of a global system of green finance. But as leading China environmental expert Barbara Finamore explains, it is anything but easy.

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Articles reflect the authors’ views which are not necessarily shared by the Society or the Editor. The Editor welcomes comments, ideas and articles on a wide range of applied economics topics and related issues of more general interest.

For Books and Reviews contact:
Ian Harwood
Book Reviews Editor, The Society of Professional Economists
harwoodfive@btinternet.com

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