Against the Grain: Insights from an Economic Contrarian :Insights from an Economic Contrarian ( 1 )

Publication subTitle :Insights from an Economic Contrarian

Publication series :1

Author: Ormerod   Paul;May   Christian  

Publisher: London Publishing Partnership‎

Publication year: 2018

E-ISBN: 9780255367561

P-ISBN(Paperback): 9780255367554

Subject: F015 宏观经济学;F2 Economic Planning and Management;F201 经济预测

Keyword: 经济计划与管理,经济预测,宏观经济学

Language: ENG

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Description

Economists and economics have been harshly criticised recently. This book accepts many of the criticisms of conventional theory but argues that the fundamental insights of economics are capable of reinterpretation and reinvention to deal with a host of contemporary concerns – social networks, globalisation, pay inequality, climate change, automation and the growth of ‘nudge’ policy amongst many others. The author uses his weekly column in the London business newspaper City A.M. to explain new developments in economic thinking and empirical research to a general audience. This book reproduces many of his most provocative columns with accompanying commentary and full references. The author’s witty and informed analysis of events provides an ideal introduction to important ideas for anybody interested in how the modern economy works.

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Foreword

1 Introduction

This book

Microeconomics and macroeconomics

Sources

References

2 Market structures and incentives

Meat and potato pies and the Nobel Prize in economics

Incentives, scarce resources and the refugee crisis

The market for speeding points

Bacon sandwich with sugar, anyone?

Don’t send bankers to jail. Just don’t give them knighthoods

Would harsher punishments deter the likes of Twisleton-Wykeham-Fiennes?

Why can’t students learn? University is not worthwhile for most

Can Nanny make you stop drinking?

Paying for performance can be bad. It’s (almost) official

Why teachers are just like bankers

CEO compensation and Jamaican demands for reparations: two sides of the same coin

Corporation tax: fostering the illusions of the electorate that someone else will pay

Our Friends in the North are trapped in a monetary union

Can game theory help the Greeks?

With hurricanes raging, why can’t politicians confront climate change?

Ticket prices, fairness and behavioural economics

Are the markets telling the truth?

The value of experiments, both controlled and natural

Rude Yorkshiremen, Milton Friedman and economic theory

Banks and steel: thorny problems in economic theory

Expert opinions are often built on sand

References

3 Uncertainty and the limits to knowledge

The World Chess Championship tells us how we really make decisions

The ‘gentleman in Whitehall’ does not know best

How expert are experts? Time to end the independence of the Bank

Beer, evolution and failure

Ninja Turtles, Nick Clegg and market failure

Black Friday, games and the Stock Market

Can England win the World Cup?

References

4 Innovation

Whatever happened to all those miners? Shocks and economic resilience

Economics isn’t always the dismal science

Could Ernie replace Andy? The Bank’s take on automation

Neo-Luddites won’t like it, but the UK must keep on (driverless) truckin’

Always look on the bright side

All we are saying: give capitalism a chance

Artificial Intelligence and the future

Biotech contradicts accusation of City short-termism

Stranded assets and innovation

Britain’s New Industrial Policy: can we learn from the mistakes of the past?

Why cricket is like spam

References

5 Networks

Thomas Schelling, polymath of genius

A stitch in time. We need smarter government, but less of it

Echo chamber of garbage

Alas, poor Cecil! Economic theory and the death of a lion

If it can happen to Google, who can feel safe?

Um Bongo: a spotlight on modern social and economic behaviour

Popular culture is the driving force of inequality

What the Emily Thornberry saga tells us about macroeconomic policy

References

6 Macroeconomics

Want an economic forecast guv? Pick one, any one will do

What a good job Keynes didn’t believe in forecasting

Inflation and the limits to knowledge

A tale of two crises

The private sector, not the state, drives America’s recovery

Cutting spending can be expansionary

Is this a pleb I see before me? Reality and perception in the markets

How big is my multiplier?

The ‘output gap’: another piece of economic mumbo-jumbo

We are much better off than the official statistics say

Economists are not impressed by Piketty’s views on inequality

Capitalism is stable and resilient

References

A few suggestions for further reading

About the IEA

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