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This text questions the abilities of the economists who influence political decisions on the economy. Ormerod aims to show that traditional economists view the world in a way which ensures they will never be able to understand it. He suggests that economies are not machines, but dynamic organisms.
Economies of Death: Economic Logics of Killable Life and Grievable Death examines the economic logic involved in determining whose lives and deaths come to matter and why. Drawing from eight distinct case studies focused on the killability and grievability of certain humans, animals, and environmental systems, this book advances an intersectional theory of economies of death. A key feature of late-modern capitalism is its tendency to economically order certain human and nonhuman lives and environments, while appropriating and commodifying certain bodies and spaces in the process. Spanning the social sciences and humanities in its contributions and scope, each chapter shows how living beings and places are stripped down to the calculus of their end, with profound ethical and political implications for these entities and the world around them. From the genocide in Cambodia to the way some animals are considered ‘pets’ and others ‘food’; from September 11, 2001 and Afghanistan to the politics of redemption for prisoners and ex-racehorses in Kentucky, these case studies draw from and develop an enriched understanding of bio- and necropolitics, posthumanism, killability and grievability. In drawing together the objectification of humans, animals and environments (and the power-laden hierarchies that maintain this objectification), this volume highlights how death across these subjects informs and responds to broader geo-economic processes. This book aims to examine the reach of economies of death across such diverse subjects, challenging readers to consider the every-day calculus they make in determining whose lives mean more and why.
Why did VHS, an inferior video recording technology, succeed in the marketplace, driving the superior Betamax out of business? Why do big-budget, acclaimed movies sometimes flop at the box office, while low-budget, idiosyncratic films become huge hits? The answers to these questions, says Paul Omerod, remind us that economics is a science based on the workings of human society, as unpredictable an entity as there is. "Conventional economics is mistaken," claimes Omerod, "when it views the economy as a machine, whose behavior, no matter how complicated, is ultimately predictable and controllable." In this cogently and elegantly argued analysis of why human beings persist in engaging in behavior that defies time-honored economic theory, Omerod also explains why governments and industries throughout the world must completely reconfigure their traditional methods of economic forecasting if they are to succeed and prosper in an increasingly global marketplace.
A New York Times Bestseller A Wall Street Journal Bestseller A New York Times Notable Book of 2020 A New York Times Book Review Editors’ Choice Shortlisted for the Financial Times and McKinsey Business Book of the Year A New Statesman Book to Read From economist Anne Case and Nobel Prize winner Angus Deaton, a groundbreaking account of how the flaws in capitalism are fatal for America's working class Deaths of despair from suicide, drug overdose, and alcoholism are rising dramatically in the United States, claiming hundreds of thousands of American lives. Anne Case and Angus Deaton explain the overwhelming surge in these deaths and shed light on the social and economic forces that are making life harder for the working class. As the college educated become healthier and wealthier, adults without a degree are literally dying from pain and despair. Case and Deaton tie the crisis to the weakening position of labor, the growing power of corporations, and a rapacious health-care sector that redistributes working-class wages into the pockets of the wealthy. This critically important book paints a troubling portrait of the American dream in decline, and provides solutions that can rein in capitalism's excesses and make it work for everyone.
A sharp analysis of the nature of work under late capitalism, revealing the dark side of aspiration and utility.
"Ever wonder why today's corporate leaders can't seem to plan for the long term? Why government can't control inflation? Why the stock market is more volatile than ever? Why interest rates rise and fall like the tides? Why economic forecasts never seem to be right? In The Death of Money, Joel Kurtzman, an economist and business columnist for The New York Times, brilliantly and convincingly argues that economic stability and a rapid rate of growth, once America's hallmarks, have been lost because the fundamental nature of money has changed." "Money - in the traditional sense - died two decades ago with a single stroke of Richard Nixon's presidential pen. What followed was twenty years of a new economic disorder that began with soaring oil, gold, and real estate prices and continued with an unprecedented consumption binge by government agencies and the citizenry alike. In the twenty years of chaos, we've seen the savings and loan industry collapse, the banking system become weaker, eclipsed by the economy of finance, and an entirely new global medium of exchange created that Kurtzman calls "megabyte money."" "Most economists, Kurtzman argues, still don't know what - or how - it all happened." "Megabyte money is different from anything that has preceded it - and from the money jingling in your pocket or purse. It is part of an intricate and fragile electronic system of truly global dimensions and of amazing complexity. It is a nonstop, seven-day-a-week, 24-hour network that links tens of thousands of computers in places as lofty as the Federal Reserve and the Tokyo Stock Exchange and as lowly as the automated gasoline pump that accepts credit cards." "Megabyte money has created an entirely new global economy, one which, Kurtzman warns, is still largely unregulated, where government agencies, including the Federal Reserve and the Treasury, have ceded much power to the world's bankers, speculators, corporate treasurers, financiers, and computer programmers." "In The Death of Money, Kurtzman vividly explains how this new megabyte economy enables brokers to electronically bundle up your home mortgage with dozens of others, convert them into jumbo securities like a bond, and sell those securities to investors in Germany or Japan. In the new megabyte economy, Nobel Prize-winning equations are programmed into the computers at mutual fund companies, and mathematicians, physicists, and even rocket scientists are replacing the stock pickers of the past." "In the megabyte economy, money is nothing more than the "1's" and "0's" of the computer's code. Moving instantly along electronic highways, $1.9 trillion changes hands each day in New York alone. Information - even wrong or incomplete information - instantly affects prices around the world." "The death of money has created a strange new world most people have little knowledge of. It is a world that is far more volatile and chaotic than anything that has preceded it. Though this new world economic order evolved without a plan, Kurtzman warns that efficient new mechanisms must now be put into place to bring the economy under control. If we do so, he says, the vast, productive resources of our nation can again serve our needs."--BOOK JACKET.Title Summary field provided by Blackwell North America, Inc. All Rights Reserved
Economics Uncut: A Complete Guide to Life, Death and Misadventure, edited by Simon Bowmaker, contains several delightful chapters on topics central to economics and the family. Although the book s implicit thesis is to dazzle with the catholicity of economics, the chapters on marriage and divorce, reproduction, suicide, and abortion are lively introductions to these family topics, and other chapters make delightful reading on their own. Darius Conger, Economics and the American Family: A Review of Recent Literature , Choice This volume collects a wide array of economic explanations of social issues that are often thought to be beyond the realm of economic explanation. . . . This work will be valuable reading for general readers and undergraduate students. Graduate students in social sciences other than economics will find accessible economic explanations of many issues in their fields. Highly recommended. R.B. Emmett, Choice Expertly compiled and deftly edited by Simon W. Bowmaker Economics Uncut: A Complete Guide to Life, Death and Misadventure features informed and informative essays and seminal articles by eighteen accomplished economists on a variety of economic issues. . . A superbly organized and presented compendium of seminal studies and commentaries adhering to high academic standards of methodology and reporting, Economics Uncut is an important and strongly recommended addition to academic library Economic Studies reference collection, as well as being quite accessible to the non-specialist general reader with an interest in the economic implications and impacts with respect to the social issues of the present day. Library Bookwatch/Internet Bookwatch The book s variety of subject matter, combined with its innovative yet academic approach, makes it both entertaining as well as thought-provoking. Emma Winberg, Economic Affairs Economics Uncut presents itself as a complete guide to Life, Death and Misadventure . Whatever the specific chapter topic, from pornography to crime, from suicide to assisted reproduction, cost benefit analyses abound, demand and supply relations are discussed in an attempt to rationalize consumer preferences, choice and price levels and, thus, complex relationships are neatly reduced to mathematical equations, with tables and graphs being plentiful. Werner Bonefeld, Journal of Contemporary European Studies If you thought you could hide your secrets from the prying eyes of economists, think again. From sex to drugs to gambling to crime, this book will show you how the tools of economics can be used to understand just about any human behavior. This book will assuredly be the unofficial economist s guide to vice for the foreseeable future. Steven Levitt, University of Chicago and author of Freakonomics In this insightful and entertaining book, Simon Bowmaker introduces readers to the fascinating side of modern economics that applies economic analysis to a wide range of social issues from illegal drugs to religion and everything in between. In this form, economics is anything but the dismal science. This is a fun and enlightening book that shows readers what many economists often forget that economics is a powerful tool for understanding the world around them. Kevin M. Murphy, University of Chicago, US Economics is generally associated with the financial pages of newspapers apart from front page discussion of major topics such as inflation, budget deficits, or unemployment. However, the topics discussed in many of the other pages of a typical newspaper, such as crime, divorce, or sport, are also appropriate for economic analysis. Economics is concerned with decisions and many important topics in today s society involve taking drugs or committing a crime or getting a divorce, for example, and so can be examined from an economic point of view. Many of these areas can be considered from different directions: legal, medical, political, religious, sociological, or psychological, for
"Published in cooperation with Hoover Institution, Stanford University, Stanford, California."--T.p.
From the best-selling author of The Death of Economics and Butterfly Economics, a ground-breaking look at a truth all too seldom acknowledged: most commercial and public policy ventures will not succeed. Paul Ormerod draws upon recent advances in biology to help us understand the surprising consequences of the Iron Law of Failure. And he shows what strategies corporations, businesses and governments will need to adopt to stand a chance of prospering in a world where only one thing is certain.