A worthy introduction to Keynes’ ideas, but a slight account of free market thought.
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
Review Program: Kirkus Indie
Occasionally wonky but overall a good case for how the dismal science can make the world less—well, dismal.
“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. 28, 2019
Kirkus Reviews Issue: Sept. 15, 2019
SEEN & HEARD
Career and business advice for the hashtag generation. For all its self-absorption, this book doesn’t offer much reflection...
A Dumpster diver–turned-CEO details her rise to success and her business philosophy.
In this memoir/business book, Amoruso, CEO of the Internet clothing store Nasty Gal, offers advice to young women entrepreneurs who seek an alternative path to fame and fortune. Beginning with a lengthy discussion of her suburban childhood and rebellious teen years, the author describes her experiences living hand to mouth, hitchhiking, shoplifting and dropping out of school. Her life turned around when, bored at work one night, she decided to sell a few pieces of vintage clothing on eBay. Fast-forward seven years, and Amoruso was running a $100 million company with 350 employees. While her success is admirable, most of her advice is based on her own limited experiences and includes such hackneyed lines as, “When you accept yourself, it’s surprising how much other people will accept you, too.” At more than 200 pages, the book is overlong, and much of what the author discusses could be summarized in a few tweets. In fact, much of it probably has been: One of the most interesting sections in the book is her description of how she uses social media. Amoruso has a spiritual side, as well, and she describes her belief in “chaos magic” and “sigils,” a kind of wishful-thinking exercise involving abstract words. The book also includes sidebars featuring guest “girlbosses” (bloggers, Internet entrepreneurs) who share equally clichéd suggestions for business success. Some of the guidance Amoruso offers for interviews (don’t dress like you’re going to a nightclub), getting fired (don’t call anyone names) and finding your fashion style (be careful which trends you follow) will be helpful to her readers, including the sage advice, “You’re not special.”
Career and business advice for the hashtag generation. For all its self-absorption, this book doesn’t offer much reflection or insight.Pub Date: May 6, 2014
ISBN: 978-0-399-16927-4
Page Count: 256
Publisher: Portfolio
Review Posted Online: June 22, 2014
Kirkus Reviews Issue: July 15, 2014
© Copyright 2025 Kirkus Media LLC. All Rights Reserved.
Follow
Popular in this Genre
We can’t wait for you to join Kirkus!
It’s free and takes less than 10 seconds!
Already have an account? Log in.
OR
Sign in with GoogleTrouble signing in? Retrieve credentials.
Welcome Back!
OR
Sign in with GoogleTrouble signing in? Retrieve credentials.
