A powerful, bracing call for a return to New Deal ethics in the age of Trump and Brexit.

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THE FUTURE OF CAPITALISM

FACING THE NEW ANXIETIES

A potent argument for “ethical capitalism,” driven not only by greed, but by “moral purpose,” to overcome deep societal rifts.

In this masterful blend of personal experience and the best thinking of diverse social scientists, economist Collier (Economics and Public Policy/Oxford Univ.; Exodus: How Migration Is Changing Our World, 2013, etc.) analyzes the current breakup of the “cornerstones of belonging”—family, workplace, and nation—and the ensuing frustrations that have opened the way for populists and ideologues. He urges pragmatic policies to manage capitalism (which is “not working” for many), rebuild the “beleaguered center” of the political spectrum and restore the “ethics of community” to contemporary life. He centers on three major societywide divides: between metropolitan centers and the provinces; between successful and poor families; and between prosperous nations (the United States, Britain, and France), where he has lived, and the developing world, where he has worked. “There is a widening regional divide between the booming metropolis and decaying provincial cities; there is a widening class divide between those in prestigious and fulfilling jobs and those in dead-end jobs, or none at all,” he writes. Only “practical new thinking” can heal such “damaging cleavages.” Collier’s benchmark for the “ethical state” is the postwar period (1945-1970) of his childhood, when each nation became a “gigantic community” based on “a strong sense of shared identity, obligation, and reciprocity” and harnessed capitalism for the benefit of all. The author is especially good on the forces unraveling shared identities, from the rise of smartphones and social media to declining home ownership among the young and my-country-first nationalism as opposed to patriotism. Many of Collier’s recommendations stress the need to strengthen failing families by “curtailing self-aggrandizing strategies of those who are well educated and highly skilled.” Great firms need a sense of purpose beyond making money, he writes.

A powerful, bracing call for a return to New Deal ethics in the age of Trump and Brexit.

Pub Date: Dec. 4, 2018

ISBN: 978-0-06-274865-2

Page Count: 256

Publisher: Harper/HarperCollins

Review Posted Online: Sept. 11, 2018

Kirkus Reviews Issue: Oct. 1, 2018

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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

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Not an easy read but an essential one.

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HOW TO BE AN ANTIRACIST

Title notwithstanding, this latest from the National Book Award–winning author is no guidebook to getting woke.

In fact, the word “woke” appears nowhere within its pages. Rather, it is a combination memoir and extension of Atlantic columnist Kendi’s towering Stamped From the Beginning (2016) that leads readers through a taxonomy of racist thought to anti-racist action. Never wavering from the thesis introduced in his previous book, that “racism is a powerful collection of racist policies that lead to racial inequity and are substantiated by racist ideas,” the author posits a seemingly simple binary: “Antiracism is a powerful collection of antiracist policies that lead to racial equity and are substantiated by antiracist ideas.” The author, founding director of American University’s Antiracist Research and Policy Center, chronicles how he grew from a childhood steeped in black liberation Christianity to his doctoral studies, identifying and dispelling the layers of racist thought under which he had operated. “Internalized racism,” he writes, “is the real Black on Black Crime.” Kendi methodically examines racism through numerous lenses: power, biology, ethnicity, body, culture, and so forth, all the way to the intersectional constructs of gender racism and queer racism (the only section of the book that feels rushed). Each chapter examines one facet of racism, the authorial camera alternately zooming in on an episode from Kendi’s life that exemplifies it—e.g., as a teen, he wore light-colored contact lenses, wanting “to be Black but…not…to look Black”—and then panning to the history that informs it (the antebellum hierarchy that valued light skin over dark). The author then reframes those received ideas with inexorable logic: “Either racist policy or Black inferiority explains why White people are wealthier, healthier, and more powerful than Black people today.” If Kendi is justifiably hard on America, he’s just as hard on himself. When he began college, “anti-Black racist ideas covered my freshman eyes like my orange contacts.” This unsparing honesty helps readers, both white and people of color, navigate this difficult intellectual territory.

Not an easy read but an essential one.

Pub Date: Aug. 13, 2019

ISBN: 978-0-525-50928-8

Page Count: 320

Publisher: One World/Random House

Review Posted Online: April 28, 2019

Kirkus Reviews Issue: May 15, 2019

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