A worthy introduction to Keynes’ ideas, but a slight account of free market thought.

READ REVIEW

Free-Market Champions

BELIEF? IDEOLOGY? PHILOSOPHY?

A spirited argument for the superiority of the Keynesian theory of economics.

In contemporary political debate, the contest between free market advocacy and the promotion of statist regulation is usually conducted in the broadest, most binary terms. Debut author Bryson attempts to find a more nuanced but popularly accessible approach to modern economics, beginning with an assessment of the discipline’s methodological rigor. First, he contends that economics falls short as a scientific enterprise, as there are simply too many shifting variables at work, including psychological ones. In fact, he says, most economic theory resembles what he cheekily labels “mysticism.” As a tonic to such unempirical prejudices, Bryson recommends what he calls “informed common sense,” and the best bearer of such wisdom turns out to be the famous economist John Maynard Keynes (1883-1946). The author provides an impressively synoptic overview of Keynes’ economic innovations, including discussions of his theory of money, the causes and cures of unemployment, and the nature of savings and investment. Especially excellent is the author’s summary of Keynes’ views on central banking and the private financial sector, which is useful as a guide to today’s disputes about banking reform. There’s also a brief but informative section on the little-known economist Sir James Steuart, a precursor to Keynes by nearly 200 years who displayed almost shocking theoretical ingenuity and prescience. Bryson uses Keynesian ideas to dismantle classical economics; unfortunately, his account of free market philosophy isn’t as judicious as his descriptions of Keynes’ concepts. It reduces much of economist Adam Smith’s views to the untethering of human greed, overlooking the distinction that Smith made between avarice and rational self-interest. Also, the author often undermines his arguments with rhetorical stridency, too promiscuously discussing the “madness” and “idiocy” of those with whom he disagrees. Also, there are detours—such as a discussion of Ayn Rand—that seem gratuitous and ax-grinding. As a single-volume introduction to Keynes, or as a counterbalance to contentious sloganeering about the role of the government in economic stimulus, this is an erudite gem. However, readers will likely be frustrated by its displays of philosophical intemperance.

A worthy introduction to Keynes’ ideas, but a slight account of free market thought.

Pub Date: June 22, 2016

ISBN: 978-1-5246-3115-4

Page Count: 240

Publisher: AuthorHouseUK

Review Posted Online: Sept. 20, 2016

Did you like this book?

No Comments Yet

Occasionally wonky but overall a good case for how the dismal science can make the world less—well, dismal.

GOOD ECONOMICS FOR HARD TIMES

“Quality of life means more than just consumption”: Two MIT economists urge that a smarter, more politically aware economics be brought to bear on social issues.

It’s no secret, write Banerjee and Duflo (co-authors: Poor Economics: A Radical Rethinking of the Way To Fight Global Poverty, 2011), that “we seem to have fallen on hard times.” Immigration, trade, inequality, and taxation problems present themselves daily, and they seem to be intractable. Economics can be put to use in figuring out these big-issue questions. Data can be adduced, for example, to answer the question of whether immigration tends to suppress wages. The answer: “There is no evidence low-skilled migration to rich countries drives wage and employment down for the natives.” In fact, it opens up opportunities for those natives by freeing them to look for better work. The problem becomes thornier when it comes to the matter of free trade; as the authors observe, “left-behind people live in left-behind places,” which explains why regional poverty descended on Appalachia when so many manufacturing jobs left for China in the age of globalism, leaving behind not just left-behind people but also people ripe for exploitation by nationalist politicians. The authors add, interestingly, that the same thing occurred in parts of Germany, Spain, and Norway that fell victim to the “China shock.” In what they call a “slightly technical aside,” they build a case for addressing trade issues not with trade wars but with consumption taxes: “It makes no sense to ask agricultural workers to lose their jobs just so steelworkers can keep theirs, which is what tariffs accomplish.” Policymakers might want to consider such counsel, especially when it is coupled with the observation that free trade benefits workers in poor countries but punishes workers in rich ones.

Occasionally wonky but overall a good case for how the dismal science can make the world less—well, dismal.

Pub Date: Nov. 12, 2019

ISBN: 978-1-61039-950-0

Page Count: 432

Publisher: PublicAffairs

Review Posted Online: Aug. 29, 2019

Kirkus Reviews Issue: Sept. 15, 2019

Did you like this book?

No Comments Yet

A timely, vividly realized reminder to slow down and harness the restorative wonders of serenity.

STILLNESS IS THE KEY

An exploration of the importance of clarity through calmness in an increasingly fast-paced world.

Austin-based speaker and strategist Holiday (Conspiracy: Peter Thiel, Hulk Hogan, Gawker, and the Anatomy of Intrigue, 2018, etc.) believes in downshifting one’s life and activities in order to fully grasp the wonder of stillness. He bolsters this theory with a wide array of perspectives—some based on ancient wisdom (one of the author’s specialties), others more modern—all with the intent to direct readers toward the essential importance of stillness and its “attainable path to enlightenment and excellence, greatness and happiness, performance as well as presence.” Readers will be encouraged by Holiday’s insistence that his methods are within anyone’s grasp. He acknowledges that this rare and coveted calm is already inside each of us, but it’s been worn down by the hustle of busy lives and distractions. Recognizing that this goal requires immense personal discipline, the author draws on the representational histories of John F. Kennedy, Buddha, Tiger Woods, Fred Rogers, Leonardo da Vinci, and many other creative thinkers and scholarly, scientific texts. These examples demonstrate how others have evolved past the noise of modern life and into the solitude of productive thought and cleansing tranquility. Holiday splits his accessible, empowering, and sporadically meandering narrative into a three-part “timeless trinity of mind, body, soul—the head, the heart, the human body.” He juxtaposes Stoic philosopher Seneca’s internal reflection and wisdom against Donald Trump’s egocentric existence, with much of his time spent “in his bathrobe, ranting about the news.” Holiday stresses that while contemporary life is filled with a dizzying variety of “competing priorities and beliefs,” the frenzy can be quelled and serenity maintained through a deliberative calming of the mind and body. The author shows how “stillness is what aims the arrow,” fostering focus, internal harmony, and the kind of holistic self-examination necessary for optimal contentment and mind-body centeredness. Throughout the narrative, he promotes that concept mindfully and convincingly.

A timely, vividly realized reminder to slow down and harness the restorative wonders of serenity.

Pub Date: Oct. 1, 2019

ISBN: 978-0-525-53858-5

Page Count: 288

Publisher: Portfolio

Review Posted Online: July 21, 2019

Kirkus Reviews Issue: Aug. 15, 2019

Did you like this book?

No Comments Yet
more