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Madmen, Intellectuals, and Academic Scribblers presents a simple, economic framework for understanding the systematic causes of political change. Wayne A. Leighton and Edward J. López take up three interrelated questions: Why do democracies generate policies that impose net costs on society? Why do such policies persist over long periods of time, even if they are known to be socially wasteful and better alternatives exist? And, why do certain wasteful policies eventually get repealed, while others endure? The authors examine these questions through familiar policies in contemporary American politics, but also draw on examples from around the world and throughout history. Assuming that incentives drive people's decisions, the book matches up three key ingredients—ideas, rules, and incentives—with the characters who make political waves: madmen in authority (such as Franklin Delano Roosevelt and Margaret Thatcher), intellectuals (like Jon Stewart and George Will), and academic scribblers (in the vein of Friedrich Hayek and John Maynard Keynes). Political change happens when these characters notice holes in the structure of ideas, institutions, and incentives, and then act as entrepreneurs to shake up the status quo.
Here is a bold history of economics - the dramatic story of how the great economic thinkers built today's rigorous social science. Noted financial writer and economist Mark Skousen has revised and updated this popular work to provide more material on Adam Smith and Karl Marx, and expanded coverage of Joseph Stiglitz, 'imperfect' markets, and behavioral economics.This comprehensive, yet accessible introduction to the major economic philosophers of the past 225 years begins with Adam Smith and continues through the present day. The text examines the contributions made by each individual to our understanding of the role of the economist, the science of economics, and economic theory. To make the work more engaging, boxes in each chapter highlight little-known - and often amusing - facts about the economists' personal lives that affected their work.
The spread of market-oriented reforms has been one of the major political and economic trends of the late twentieth and early twenty-first centuries. Governments have, to varying degrees, adopted policies that have led to deregulation: the liberalization of trade; the privatization of state entities; and low-rate, broad-base taxes. Yet some countries embraced these policies more than others. Johan Christensen examines one major contributor to this disparity: the entrenchment of U.S.-trained, neoclassical economists in political institutions the world over. While previous studies have highlighted the role of political parties and production regimes, Christensen uses comparative case studies of New Zealand, Ireland, Norway, and Denmark to show how the influence of economists affected the extent to which each nation adopted market-oriented tax policies. He finds that, in countries where economic experts held powerful positions, neoclassical economics broke through with greater force. Drawing on revealing interviews with 80 policy elites, he examines the specific ways in which economists shaped reforms, relying on an activist approach to policymaking and the perceived utility of their science to drive change.
In China, East Asia and the European Union specialist authors from both Europe and Asia reflect on the dynamic relationship between the three actors from an International Relations perspective. The book is a testimony to China’s seemingly unstoppable rise, both in the East Asian region and in the relationship with the EU and its member states. The authors investigate why the economic links between the European Union and East Asia have become so firmly established, while in comparison the political bond has remained underdeveloped. They conclude that the crises the EU is currently facing seriously affect its manoeuvring space vis-a-vis China and its neighbours, both economically and politically. Contributors are: Ding Chun, Neil Duggan, Enrico Fardella, Frank Gaenssmantel, Tjalling Halbertsma, Daniel R Hammond, Jan van der Harst, Elisa Hörhager, Jing Jing, Werner Pascha, Sanne Kamerling, David Kerr, Silja Keva, Christopher K. Lamont, Li Junyang, Feng Liu, Maaike Okano-Heijmans, Nadya Stoynova, and Herman Voogsgeerd.
We don’t understand the reactionary mind. As a result, argues Mark Lilla in this timely book, the ideas and passions that shape today’s political dramas are unintelligible to us. The reactionary is anything but a conservative. He is as radical and modern a figure as the revolutionary, someone shipwrecked in the rapidly changing present, and suffering from nostalgia for an idealized past and an apocalyptic fear that history is rushing toward catastrophe. And like the revolutionary his political engagements are motivated by highly developed ideas. Lilla begins with three twentieth-century philosophers—Franz Rosenzweig, Eric Voegelin, and Leo Strauss—who attributed the problems of modern society to a break in the history of ideas and promoted a return to earlier modes of thought. He then examines the enduring power of grand historical narratives of betrayal to shape political outlooks since the French Revolution, and shows how these narratives are employed in the writings of Europe’s right-wing cultural pessimists and Maoist neocommunists, American theoconservatives fantasizing about the harmony of medieval Catholic society and radical Islamists seeking to restore a vanished Muslim caliphate. The revolutionary spirit that inspired political movements across the world for two centuries may have died out. But the spirit of reaction that rose to meet it has survived and is proving just as formidable a historical force. We live in an age when the tragicomic nostalgia of Don Quixote for a lost golden age has been transformed into a potent and sometimes deadly weapon. Mark Lilla helps us to understand why.
“The most interesting book I have read in years. . . . WTF?! is like Freakonomics on steroids.” —Steven D. Levitt, New York Times–bestselling coauthor of Freakonomics Did you know that “pre-owned” wives were sold at auction in nineteenth-century England? That today, in Liberia, accused criminals sometimes drink poison to determine their fate? How about the fact that, for 250 years, Italy criminally prosecuted cockroaches and crickets? Do you wonder why? Then this book is for you! Introducing us to a cast of colorful characters, economist Peter T. Leeson explains how to use economic thinking to reveal the hidden sense behind seemingly senseless human behavior—including your own. Leeson shows that far from “irrational” or “accidents of history,” humanity’s most outlandish rituals are ingenious solutions to pressing problems—developed by clever people, driven by incentives, and tailor-made for their time and place. "A fascinating tour of some of the world’s strangest customs and behaviors, led by a brilliant, funny, and eccentric tour guide dedicated to the proposition that no matter how strange it looks, there’s always a reason for it—and a lesson to be learned by discovering that reason.” —Steven E. Landsburg, author of The Armchair Economist
A study of ideas, their substance, origins and salience, in government decision-making during credibility crises in India and developing democracies.
Charles Clover, award-winning journalist and former Moscow bureau chief for the Financial Times, here analyses the idea of "Eurasianism," a theory of Russian national identity based on ethnicity and geography. Clover traces Eurasianism’s origins in the writings of White Russian exiles in 1920s Europe, through Siberia’s Gulag archipelago in the 1950s, the dissolution of the Soviet Union in the early 1990s, and up to its steady infiltration of the governing elite around Vladimir Putin. This eye-opening analysis pieces together the evidence for Eurasianism’s place at the heart of Kremlin thinking today and explores its impact on recent events, the annexation of Crimea, the rise in Russia of anti-Western paranoia and imperialist rhetoric, as well as Putin’s sometimes perplexing political actions and ambitions. Based on extensive research and dozens of interviews with Putin’s close advisers, this quietly explosive story will be essential reading for anyone concerned with Russia’s past century, and its future.
This book, the second of two volumes, explores the impact of Jesús Huerta de Soto and his role in the modern revival of the Austrian School of Economics. Through chapters discussing philosophy and political economy, the nature of capitalism and the foundations of economics are examined in relation to Austrian economics. These ideas and the work of Huerta de Soto are also contextualized within the broader history of economic thought to provide insight into their influence and development. This book highlights and builds upon the intellectual legacy of Jesús Huerta de Soto through its contribution to the Austrian School of Economics. It will be relevant to students and researchers interested in Austrian economics, philosophy, and political economy.
Deftly navigating the tensions among globalization, national sovereignty, and democracy, Straight Talk on Trade presents an indispensable commentary on today's world economy and its dilemmas, and offers a visionary framework at a critical time when it is most needed.