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Good Economics for Hard Times

Good Economics for Hard Times

Better Answers to Our Biggest Problems

Two prize-winning economists show how economics, when done right, can help us solve the thorniest social and political problems of our day

The experience of the last decade has not been kind to the image of economists: asleep at the wheel (perhaps with the foot on the gas pedal) in the run-up to the great recession, squabbling about how to get out of it, tone-deaf in discussions of the plight of Greece or the Euro area; they seem to have lost the ability to provide reliable guidance on the great problems of the day.

In this ambitious, provocative book Abhijit V. Banerjee and Esther Duflo show how traditional western-centric thinking has failed to explain what is happening to people in a newly globalized world: in short Good Economics has been done badly. This precise but accessible book covers many of the most essential issues of our day–including migration, unemployment, growth, free trade, political polarization, and welfare. Banerjee and Duflo will confound and clarify the presumptions of our times, such as:

  • Why migration doesn’t follow the law of supply and demand
  • Why trade liberalization can drive unemployment up and wages down
  • Why macroeconomists like to bend the data to fit the model
  • Why nobody can really explain why and when growth happens
  • Why economists’ assumption that people don’t change their minds has made has made polarization worse
  • Why quite often it doesn’t take a village, especially if the villagers aren’t that nice

In doing so, they seek to reclaim this essential terrain, and to offer readers an economist’s view of the great issues of the day–one that is candid about the complexities, the zones of ignorance, and the areas of genuine disagreement.

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Genre: Nonfiction / Business & Economics / Economics / Macroeconomics

On Sale: November 12th 2019

Price: $28 / $35 (CAD)

Page Count: 432

ISBN-13: 9781610399500

What's Inside

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Reader Reviews

Praise

"Not all economists wear ties and think like bankers. In their wonderfully refreshing book, Banerjee and Duflo delve into impressive areas of new research questioning conventional views about issues ranging from trade to top income taxation and mobility, and offer their own powerful vision of how we can grapple with them. A must-read."—Thomas Piketty, professor, Paris School of Economics, and author of Capital in the Twenty-first Century
"A magnificent achievement, and the perfect book for our time. Banerjee and Duflo brilliantly illuminate the largest issues of the day, including immigration, trade, climate change, and inequality. If you read one policy book this year -- heck, this decade - read this one."—Cass R. Sunstein, Robert Walmsley University Professor, Harvard University, and author, How Change Happens
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