Two Hundred Years of Muddling Through

Author: Duncan Weldon
Publisher: Hachette UK
ISBN: 1408713152
Category : Business & Economics
Languages : en
Pages : 352

Book Description
'Here's the history that really matters' Financial Times The UK is, at the same time, both one of the world's most successful economies and one of Europe's laggards. The country contains some of Western Europe's richest areas such as the south east of England, but also some of its poorest such as the north east or Wales. It's really not much of an exaggeration to describe the UK, in economic terms, as 'Portugal but with Singapore in the bottom corner'. Looking into the past helps understand why. Two Hundred Years of Muddling Through tells the story of how Britain's economy and politics have interacted with each other from the time of the Industrial Revolution right up to the pandemic of 2020. A few politicians, such as Peel, Gladstone, Attlee and Thatcher have managed to shape the economy but far more have been shaped by it. Depressing little in British economic debate is really new. This time is rarely, if ever, really different. The debates about the balance between economic openness and sovereignty that re-emerged after Brexit would have been familiar to Peel and Cobden in the 1840s. The size of the government's deficit has dominated politics since 2010 but fretting about the scale of the national debt was almost a national pastime during Victoria's reign. Worries about the failure of vocational training and a paranoia that German manufacturing was powering ahead were common in the days of Lloyd George and Asquith. Supposedly modern concerns about the impacts of new technology on jobs and inequality date back to at least Captain Swing and Ned Ludd. As the economy emerges from the Covid-19 recession and sets out on a new post-Brexit future an understanding of the past is vital to seeing how the future might play out.

Muddling Through

Author: Michael Fortun
Publisher: National Geographic Books
ISBN: 1887178481
Category : Fiction
Languages : en
Pages : 0

Book Description
Messy. Clumsy. Volatile. Exciting. These words are not often associated with the sciences, which for most people still connote exactitude, elegance, reliability, and a rather plodding certainty. But the real story is something quite different. The sciences are less about the ability to know and to control than they are about the unleashing of new forces, new capacities for changing the world. The sciences as practiced exist not in some pristine world of “objectivity,” but in what Mike Fortun and Herb Bernstein call “the muddled middle.” This book explores the way science makes sense of the world and how the world makes sense of science. It is also about politics and culture--how these forces shape the sciences and are shaped by it in turn. Think of Muddling Through as the basic text for a new kind of literacy project, a project to re-imagine the sciences as complex operations of language, action, and thought--as attempts, trials, limited experiments. The sciences provide us with the images and metaphors we apply to myriad situations and phenomena, and create the blueprints we use to make and legitimate crucial social decisions. If democracies are to meet the challenge of the ever more critical world-making role of the sciences, they must fundamentally shift their attention and their attitudes. The quest for social or political mastery of the sciences will have to end; the new journey will begin with a trip to the muddled middle. Travel then, with historian Fortun and physicist Bernstein from the workshops of fifteenth-century England to a present-day quantum physics laboratory. Stop at a military toxic waste dump, a courtroom, a colony of baboons. Along the way you might shed your faith in pure inquiry, see the limits of value-free rationality, and breath the fresh air of change.

Money in One Lesson

Author: Gavin Jackson
Publisher: Pan Macmillan
ISBN: 1529051878
Category : Business & Economics
Languages : en
Pages : 340

Book Description
'Superb' - Tim Harford, author of How to Make the World Add Up Money is essential to the economy and how we live our lives, yet is inherently worthless. We can use it to build a home or send us to space, and it can lead to the rise and fall of empires. Few innovations have had such a huge impact on the development of humanity, but money is a shared fiction; a story we believe in so long as others act as if it is true. Money is rarely out of the headlines – from the invention of cryptocurrencies to the problem of high inflation, extraordinary interventions by central banks and the power the West has over the worldwide banking system. In Money in One Lesson, Gavin Jackson answers the most important questions on what money is and how it shapes our world, drawing on vivid examples from throughout history to demystify and show how societies and its citizens, both past and present, are always entwined with matters of money. ‘A highly illuminating, well-researched and beautifully written book on one of humanity’s most important innovations’ – Martin Wolf, chief economics commentator, Financial Times

The Confidence Trap

Author: David Runciman
Publisher: Princeton University Press
ISBN: 0691178135
Category : Political Science
Languages : en
Pages : 424

Book Description
Why democracies believe they can survive any crisis—and why that belief is so dangerous Why do democracies keep lurching from success to failure? The current financial crisis is just the latest example of how things continue to go wrong, just when it looked like they were going right. In this wide-ranging, original, and compelling book, David Runciman tells the story of modern democracy through the history of moments of crisis, from the First World War to the economic crash of 2008. A global history with a special focus on the United States, The Confidence Trap examines how democracy survived threats ranging from the Great Depression to the Cuban missile crisis, and from Watergate to the collapse of Lehman Brothers. It also looks at the confusion and uncertainty created by unexpected victories, from the defeat of German autocracy in 1918 to the defeat of communism in 1989. Throughout, the book pays close attention to the politicians and thinkers who grappled with these crises: from Woodrow Wilson, Nehru, and Adenauer to Fukuyama and Obama. In The Confidence Trap, David Runciman shows that democracies are good at recovering from emergencies but bad at avoiding them. The lesson democracies tend to learn from their mistakes is that they can survive them—and that no crisis is as bad as it seems. Breeding complacency rather than wisdom, crises lead to the dangerous belief that democracies can muddle through anything—a confidence trap that may lead to a crisis that is just too big to escape, if it hasn't already. The most serious challenges confronting democracy today are debt, the war on terror, the rise of China, and climate change. If democracy is to survive them, it must figure out a way to break the confidence trap.

Civilization

Author: Niall Ferguson
Publisher: Penguin
ISBN: 1101548029
Category : History
Languages : en
Pages : 432

Book Description
From the bestselling author of The Ascent of Money and The Square and the Tower “A dazzling history of Western ideas.” —The Economist “Mr. Ferguson tells his story with characteristic verve and an eye for the felicitous phrase.” —Wall Street Journal “[W]ritten with vitality and verve . . . a tour de force.” —Boston Globe Western civilization’s rise to global dominance is the single most important historical phenomenon of the past five centuries. How did the West overtake its Eastern rivals? And has the zenith of Western power now passed? Acclaimed historian Niall Ferguson argues that beginning in the fifteenth century, the West developed six powerful new concepts, or “killer applications”—competition, science, the rule of law, modern medicine, consumerism, and the work ethic—that the Rest lacked, allowing it to surge past all other competitors. Yet now, Ferguson shows how the Rest have downloaded the killer apps the West once monopolized, while the West has literally lost faith in itself. Chronicling the rise and fall of empires alongside clashes (and fusions) of civilizations, Civilization: The West and the Rest recasts world history with force and wit. Boldly argued and teeming with memorable characters, this is Ferguson at his very best.

The Shameless

Author: Ace Atkins
Publisher: Penguin
ISBN: 0525539484
Category : Fiction
Languages : en
Pages : 466

Book Description
Buried secrets, dirty lies, and unbridled greed and ambition raise the stakes down South in the lauded crime series from New York Times bestselling author Ace Atkins. Twenty years ago, Brandon Taylor was thought to be just another teen boy who ended his life too soon. That's what almost everyone in Tibbehah County, Mississippi, said after his body and hunting rifle were found in the Big Woods. Now two New York-based reporters show up asking Sheriff Quinn Colson questions about the Taylor case. What happened to the evidence? Where are the missing files? Who really killed Brandon? Quinn wants to help. After all, his wife Maggie was a close friend of Brandon Taylor. But Quinn was just a kid himself in 1997, and these days he's got more on his plate than twenty-year-old suspicious death. He's trying to shut down the criminal syndicate that's had a stranglehold on Tibbehah for years, trafficking drugs, stolen goods, and young women through the MidSouth. Truck stop madam Fannie Hathcock runs most of that action, and has her eyes on taking over the whole show. And then there's Senator Jimmy Vardaman, who's cut out the old political establishment riding the Syndicate's money and power--plus a hefty helping of racism and ignorance--straight to the governor's office. If he manages to get elected, the Syndicate will be untouchable. Tibbehah will be lawless. Quinn's been fighting evil and corruption since he was a kid, at home or as a U.S. Army Ranger in Afghanistan and Iraq. This time, evil may win out.

Freefall: America, Free Markets, and the Sinking of the World Economy

Author: Joseph E. Stiglitz
Publisher: W. W. Norton & Company
ISBN: 0393077071
Category : Business & Economics
Languages : en
Pages : 480

Book Description
An incisive look at the global economic crisis, our flawed response, and the implications for the world’s future prosperity. The Great Recession, as it has come to be called, has impacted more people worldwide than any crisis since the Great Depression. Flawed government policy and unscrupulous personal and corporate behavior in the United States created the current financial meltdown, which was exported across the globe with devastating consequences. The crisis has sparked an essential debate about America’s economic missteps, the soundness of this country’s economy, and even the appropriate shape of a capitalist system. Few are more qualified to comment during this turbulent time than Joseph E. Stiglitz. Winner of the 2001 Nobel Prize in Economics, Stiglitz is “an insanely great economist, in ways you can’t really appreciate unless you’re deep into the field” (Paul Krugman, New York Times). In Freefall, Stiglitz traces the origins of the Great Recession, eschewing easy answers and demolishing the contention that America needs more billion-dollar bailouts and free passes to those “too big to fail,” while also outlining the alternatives and revealing that even now there are choices ahead that can make a difference. The system is broken, and we can only fix it by examining the underlying theories that have led us into this new “bubble capitalism.” Ranging across a host of topics that bear on the crisis, Stiglitz argues convincingly for a restoration of the balance between government and markets. America as a nation faces huge challenges—in health care, energy, the environment, education, and manufacturing—and Stiglitz penetratingly addresses each in light of the newly emerging global economic order. An ongoing war of ideas over the most effective type of capitalist system, as well as a rebalancing of global economic power, is shaping that order. The battle may finally give the lie to theories of a “rational” market or to the view that America’s global economic dominance is inevitable and unassailable. For anyone watching with indignation while a reckless Wall Street destroyed homes, educations, and jobs; while the government took half-steps hoping for a “just-enough” recovery; and while bankers fell all over themselves claiming not to have seen what was coming, then sought government bailouts while resisting regulation that would make future crises less likely, Freefall offers a clear accounting of why so many Americans feel disillusioned today and how we can realize a prosperous economy and a moral society for the future.

Tumultuous Times

Author: Masaaki Shirakawa
Publisher: Yale University Press
ISBN: 0300258976
Category : Business & Economics
Languages : en
Pages : 534

Book Description
A rare insider's account of the inner workings of the Japanese economy, and the Bank of Japan's monetary policy, by a career central banker The Japanese economy, once the envy of the world for its dynamism and growth, lost its shine after a financial bubble burst in early 1990s and slumped further during the Global Financial Crisis in 2008. It suffered even more damage in 2011, when a severe earthquake set off the Fukushima Daiichi nuclear disaster. However, the Bank of Japan soldiered on to combat low inflation, low growth, and low interest rates, and in many ways it served as a laboratory for actions taken by central banks in other parts of the world. Masaaki Shirakawa, who led the bank as governor from 2008 to 2013, provides a rare insider's account of the workings of Japanese economic and monetary policy during this period and how it challenged mainstream economic thinking.

Where Credit is Due

Author: Gregory Smith
Publisher: Oxford University Press
ISBN: 019764421X
Category : Business & Economics
Languages : en
Pages : 230

Book Description
Borrowing is a crucial source of financing for governments all over the world. If they get it wrong, then debt crises can bring progress to a halt. But if it's done right, investment happens and conditions improve. African countries are seeking calmer capital, to raise living standards and give their economies a competitive edge. The African debt landscape has changed radically in the first two decades of the twenty-first century. Since the clean slate of extensive debt relief, states have sought new borrowing opportunities from international capital markets and emerging global powers like China. The new debt composition has increased risk, exacerbated by the 2020 coronavirus pandemic: richer countries borrowed at rock-bottom interest rates, while Africa faced an expensive jump in indebtedness. The escalating debt burden has provoked calls by the G20 for suspension of debt payments. But Africa's debt today is highly complex, and owed to a wider range of lenders. A new approach is needed, and could turn crisis into opportunity. Urgent action by both lenders and borrowers can reduce risk, while carefully preserving market access; and smart deployment of private finance can provide the scale of investment needed to achieve development goals and tackle the climate emergency.

The Realm of Last Chances

Author: Steve Yarbrough
Publisher: Knopf
ISBN: 0385349505
Category : Fiction
Languages : en
Pages : 290

Book Description
Taking a less prestigious job that entangles her in university politics while her obsessive musician husband works on their new home in Massachusetts, Kristin gravitates toward a younger divorced man with whom she shares an unexpected affair.