Calendar

Jan
21
Sun
David Biale @ Jewish Community Center of San Francisco
Jan 21 @ 4:00 pm – 5:00 pm

HasidismThis is the first comprehensive history of the pietistic movement that shaped modern Judaism. The book’s unique blend of intellectual, religious, and social history offers perspectives on the movement’s leaders as well as its followers, and demonstrates that, far from being a throwback to the Middle Ages, Hasidism is a product of modernity that forged its identity as a radical alternative to the secular world.

Hasidism originated in southeastern Poland, in mystical circles centered on the figure of Israel Ba’al Shem Tov, but it was only after his death in 1760 that a movement began to spread. Challenging the notion that Hasidism ceased to be a creative movement after the eighteenth century, this book argues that its first golden age was in the nineteenth century, when it conquered new territory, won a mass following, and became a mainstay of Jewish Orthodoxy. World War I, the Russian Revolution, and the Holocaust decimated eastern European Hasidism. But following World War II, the movement enjoyed a second golden age, growing exponentially. Today, it is witnessing a remarkable renaissance in Israel, the United States, and other countries around the world.

Written by an international team of scholars, Hasidism is a must-read for anyone seeking to understand this vibrant and influential modern Jewish movement.

David Biale is the Emanuel Ringelblum Distinguished Professor of Jewish History at the University of California, Davis. David Assaf is professor of Jewish history at Tel Aviv University. Benjamin Brown is professor of Jewish thought at the Hebrew University of Jerusalem. Uriel Gellman is lecturer in Jewish history at Bar-Ilan University. Samuel Heilman is Distinguished Professor of Sociology at Queens College and the Graduate Center, City University of New York. Moshe Rosman is professor of Jewish history at Bar-Ilan University. Gadi Sagiv is senior lecturer in Jewish history at the Open University of Israel. Marcin Wodziński is professor of Jewish studies at the University of Wrocław.

Jan
22
Mon
Richard Layard @ London School of Economoics
Jan 22 @ 6:30 pm – 8:00 pm

HappinessWhat makes people happy? Why should governments care about people’s well-being? How would policy change if well-being was the main objective? The Origins of Happiness seeks to revolutionize how we think about human priorities and to promote public policy changes that are based on what really matters to people. Drawing on a uniquely comprehensive range of evidence from longitudinal data on over one hundred thousand individuals in Britain, the United States, Australia, and Germany, the authors consider the key factors that affect human well-being.

The authors explore factors such as income, education, employment, family conflict, health, childcare, and crime—and their findings are not what we might expect. Contrary to received wisdom, income inequality accounts for only two percent or less of the variance in happiness across the population; the critical factors affecting a person’s happiness are their relationships and their mental and physical health. More people are in misery due to mental illness than to poverty, unemployment, or physical illness. Examining how childhood influences happiness in adulthood, the authors show that academic performance is a less important predictor than emotional health and behavior, which is shaped tremendously by schools, individual teachers, and parents. For policymakers, the authors propose new forms of cost-effectiveness analysis that places well-being at center stage.

Groundbreaking in its scope and results, The Origins of Happiness offers all of us a new vision for how we might become more healthy, happy, and whole.

Andrew E. Clark is a full research professor at the Paris School of Economics. Sarah Flèche is a research economist at the London School of Economics. Richard Layard is emeritus professor of economics at the London School of Economics and a member of the House of Lords. He is the coauthor of Thrive (Princeton) and Happiness. Nattavudh Powdthavee is professor of behavioral science at Warwick Business School. He is the author of The Happiness Equation. George Ward is a PhD candidate in behavioral and policy sciences at the Massachusetts Institute of Technology. All of the authors are members of the Wellbeing Programme at the London School of Economics’ Centre for Economic Performance.

Jan
24
Wed
Andrew Lo @ Museum of American Finance
Jan 24 @ 5:30 pm – 7:00 pm

LoHalf of all Americans have money in the stock market, yet economists can’t agree on whether investors and markets are rational and efficient, as modern financial theory assumes, or irrational and inefficient, as behavioral economists believe—and as financial bubbles, crashes, and crises suggest. This is one of the biggest debates in economics and the value or futility of investment management and financial regulation hang on the outcome. In this groundbreaking book, Andrew Lo cuts through this debate with a new framework, the Adaptive Markets Hypothesis, in which rationality and irrationality coexist.

Drawing on psychology, evolutionary biology, neuroscience, artificial intelligence, and other fields, Adaptive Markets shows that the theory of market efficiency isn’t wrong but merely incomplete. When markets are unstable, investors react instinctively, creating inefficiencies for others to exploit. Lo’s new paradigm explains how financial evolution shapes behavior and markets at the speed of thought—a fact revealed by swings between stability and crisis, profit and loss, and innovation and regulation.

A fascinating intellectual journey filled with compelling stories, Adaptive Markets starts with the origins of market efficiency and its failures, turns to the foundations of investor behavior, and concludes with practical implications—including how hedge funds have become the Galápagos Islands of finance, what really happened in the 2008 meltdown, and how we might avoid future crises.

An ambitious new answer to fundamental questions in economics, Adaptive Markets is essential reading for anyone who wants to know how markets really work.

Andrew W. Lo is the Charles E. and Susan T. Harris Professor at the MIT Sloan School of Management and director of the MIT Laboratory for Financial Engineering. He is the author of Hedge Funds and the coauthor of A Non-Random Walk Down Wall Street and The Econometrics of Financial Markets (all Princeton). He is also the founder of AlphaSimplex Group, a quantitative investment management company based in Cambridge, Massachusetts.

Jan
29
Mon
Jonathan Haskel & Stian Westlake @ Georgetown Center for Business and Public Policy
Jan 29 @ 6:00 pm – 8:30 pm

CapitalEarly in the twenty-first century, a quiet revolution occurred. For the first time, the major developed economies began to invest more in intangible assets, like design, branding, R&D, and software, than in tangible assets, like machinery, buildings, and computers. For all sorts of businesses, from tech firms and pharma companies to coffee shops and gyms, the ability to deploy assets that one can neither see nor touch is increasingly the main source of long-term success.

But this is not just a familiar story of the so-called new economy. Capitalism without Capital shows that the growing importance of intangible assets has also played a role in some of the big economic changes of the last decade. The rise of intangible investment is, Jonathan Haskel and Stian Westlake argue, an underappreciated cause of phenomena from economic inequality to stagnating productivity.

Haskel and Westlake bring together a decade of research on how to measure intangible investment and its impact on national accounts, showing the amount different countries invest in intangibles, how this has changed over time, and the latest thinking on how to assess this. They explore the unusual economic characteristics of intangible investment, and discuss how these features make an intangible-rich economy fundamentally different from one based on tangibles.

Capitalism without Capital concludes by presenting three possible scenarios for what the future of an intangible world might be like, and by outlining how managers, investors, and policymakers can exploit the characteristics of an intangible age to grow their businesses, portfolios, and economies.

Jonathan Haskel is professor of economics at Imperial College Business School. Stian Westlake is a senior fellow at Nesta, the UK’s national foundation for innovation. Haskel and Westlake are cowinners of the 2017 Indigo Prize.