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Check out the new book trailer for the eagerly-awaited new book THE DOLLAR TRAP: How the U.S. Dollar Tightened Its Grip on Global Finance, by Cornell and Brookings economist Eswar Prasad, due out the first week of February.
New book trailer for Eswar Prasad’s THE DOLLAR TRAP: How the U.S. Dollar Tightened Its Grip on Global Finance
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Be among the first to browse and download our new economics and finance catalog!
Of particular interest is The Great Escape: Health, Wealth, and the Origins of Inequality by Angus Deaton. In The Great Escape, Deaton—one of the foremost experts on economic development and on poverty—tells the remarkable story of how, starting 250 years ago, some parts of the world began to experience sustained progress, opening up gaps and setting the stage for today’s hugely unequal world. Deaton takes an in-depth look at the historical and ongoing patterns behind the health and wealth of nations, and he addresses what needs to be done to help those left behind. Demonstrating how changes in health and living standards have transformed our lives, The Great Escape is a powerful guide to addressing the well-being of all nations.
Also be sure to note Mass Flourishing: How Grassroots Innovation Created Jobs, Challenge, and Change by Edmund Phelps. In this book, Nobel Prize-winning economist Edmund Phelps draws on a lifetime of thinking to make a sweeping new argument about what makes nations prosper—and why the sources of that prosperity are under threat today. Why did prosperity explode in some nations between the 1820s and 1960s, creating not just unprecedented material wealth but “flourishing”—meaningful work, self-expression, and personal growth for more people than ever before? Phelps makes the case that the wellspring of this flourishing was modern values such as the desire to create, explore, and meet challenges. These values fueled the grassroots dynamism that was necessary for widespread, indigenous innovation. Most innovation wasn’t driven by a few isolated visionaries like Henry Ford; rather, it was driven by millions of people empowered to think of, develop, and market innumerable new products and processes, and improvements to existing ones. Mass flourishing—a combination of material well-being and the “good life” in a broader sense—was created by this mass innovation.
And don’t miss out on An Uncertain Glory: India and its Contradictions by Jean Drèze & Amartya Sen. The deep inequalities in Indian society tend to constrict public discussion, confining it largely to the lives and concerns of the relatively affluent. Drèze and Sen present a powerful analysis of these deprivations and inequalities as well as the possibility of change through democratic practice.
Even more foremost titles in economics and finance can be found in the catalog. You may also sign up with ease to be notified of forthcoming titles at http://press.princeton.edu/subscribe/. Your e-mail address will remain confidential!
Looking dapper in their tuxedos, 2013 Nobel in Economics co-winner Robert Shiller (r) and Princeton University Press Director Peter Dougherty (l) prepare for the awards ceremony today at the Stockholm Concer Hall in Sweden. Shiller, along with fellow economists Eugene Fama and Lars Peter Hansen (also a PUP author), were awarded the prize in October. Read all about winners of the The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2013, as it is officially called, on the official website.
“The Federal Reserve was founded 1914, and concerns about both macroeconomic stability and financial stability motivated the decision of Congress and President Woodrow Wilson to create it. After the Civil War and into the early 1900s, there was no central bank, so any kind of financial stability functions that could not be performed by the Treasury had to be done privately.” -Ben S. Bernanke, from chapter one of The Federal Reserve and the Financial Crisis
In 2012, Ben Bernanke, chairman of the U.S. Federal Reserve, gave a series of lectures about the Federal Reserve and the 2008 financial crisis, as part of a course at George Washington University on the role of the Federal Reserve in the economy. In this unusual event, Bernanke revealed important background and insights into the central bank’s crucial actions during the worst financial crisis since the Great Depression. Taken directly from these historic talks, The Federal Reserve and the Financial Crisis offers insight into the guiding principles behind the Fed’s activities and the lessons to be learned from its handling of recent economic challenges.
Ben S. Bernanke is chairman of the U.S. Federal Reserve. He has served as chairman of the President’s Council of Economic Advisors and as a member of the Board of Governors of the Federal Reserve. Before his time in public service he was a professor of economics at Princeton University. His many books include Essays on the Great Depression and Inflation Targeting (both Princeton).
We invite you to read chapter one online at: http://press.princeton.edu/chapters/s9928.pdf
…For wealth to invigorate the capitalist system it needs to be “kept in rotation” like the planets around the sun, and for this task American philanthropy is very well suited. Examining the dynamics of American-style capitalism since the eighteenth century, philanthropy achieves three critical outcomes. It deals with the question of what to do with wealth–keep it, tax it, or give it away. It complements government in creating public goods. And, by focusing on education, science, and medicine, philanthropy has a positive effect on economic growth and productivity. Individuals such as Benjamin Franklin, Andrew Carnegie, Bill Gates, Michael Bloomberg and Oprah Winfrey have used their wealth to establish institutions and promote knowledge, and philanthropy has given an edge to American-style capitalism by promoting vital forces–like university research–necessary for technological innovation, economic equality, and economic security.
Philanthropy is therefore an invisible, underappreciated force for progress in American-style capitalism–the secret ingredient that fails to get mentioned in economic accounts of capitalism…
Why Philanthropy Matters
Stanford finance prof Anat Admati discusses her new book, with Martin Hellwig, THE BANKERS’ NEW CLOTHES
Stanford finance and economics professor Anat Admati discusses her new book, with Martin Hellwig, THE BANKERS’ NEW CLOTHES: What’s Wrong with Banking and What to Do about It, out in March, with the Stanford Graduate School of Business.
Follow Professor Admati on her popular Twitter feed @anatadmati
PUP’s first eBook-original HUMAN CAPITALISM: How Economic Growth Has Made Us Smarter–and More Unequal, by Brink Lindsey
In Princeton University Press’s first EBook original, Brink Lindsey demands an investment in “human capital” to stop the growing divide between the haves and have-nots
What explains the growing divide between the wealthy and everybody else? Politicians, pundits, scholars, journalists, economists and many others have tried to solve this critical question that would create a more equal society. In Princeton University Press’s first Ebook original HUMAN CAPITALISM: How Economic Growth Has Made Us Smarter—and More Unequal (Publication Date: August 8, 2012; Ebook $4.99), author and Kauffman Foundation scholar Brink Lindsey argues that the gap between elites and the rest of us can best be explained by the ever-growing complexity of modern economies and the barriers to the acquisition of the skills—“Human Capital”— necessary to not only survive but thrive in a new economic landscape.
The complexity of today’s economy is not only making these elites richer—it is also making them smarter. As the economy makes ever-greater demands on their minds, the successful are making ever-greater investments in education and other ways of increasing their children’s human capital, expanding their cognitive skills and leading them to still higher levels of success. But unfortunately, even as the rich are securely riding this virtuous cycle, the poor are trapped in a vicious one, as a pattern of family breakdown, unemployment, and dysfunction, leads to a further erosion of knowledge and skills.
Lindsey shows how high skill level jobs are rewarded, while mid-level jobs are outsourced, further widening the gap. Simply retraining workers or teaching skills isn’t working because it’s not removing the cultural divisions and polarization that permeates the economy; those cultural factors are impeding the success of targeted programs that he espouses. Fueling the
polarization is the resentment of those on the lower end who don’t want to hear that the world has changed and that they need better jobs.
Lindsey’s solutions? To redeem the promise of human capitalism, it is necessary to restore the connection between rising complexity and rising human capital cross the socioeconomic spectrum.
o Maintain growth through policies that encourage entrepreneurship and innovation.
o Reform K-12 education by unleashing competition.
o Step up experiments with early childhood interventions that can compensate for disadvantaged environments.
o Combat social exclusion of low-skilled adults through low-wage job subsidies, changes in disability insurance, and penal reform to reduce mass incarceration.
o Improve higher education by limiting tuition subsidies.
o Reform land use regulation and occupational licensing to facilitate upward mobility.
In this brief, clear, and forthright eBook original, Lindsey shows how economic growth is creating unprecedented levels of human capital—and suggests how the huge benefits of this development can be spread beyond those who are already enjoying its rewards.
Coming in Spring 2013, Princeton University Press will also be publishing an expanded hardcover edition of the book.
Max Bazerman, co-author of Blind Spots: Why We Fail to Do What’s Right and What to Do about It (along with Ann Tenbrunsel) appeared on WNYC’s The Takeaway to discuss the trial of former Penn State assistant football coach Jerry Sandusky. You can listen to the interview below.
Robert Shiller was in the UK during the first week of May to promote his latest book ‘Finance and the Good Society’. His appearances ranged from an interview on CNBC Europe Squawk Box to videos for The Guardian and Economia as well as lectures at the Royal Society of Arts and the London School of Economics.
Please follow the links to catch up with any of these appearances.
David Vogel discusses regulating health, safety, and environmental risks in Europe and the United States
David Vogel, whose book The Politics of Precaution: Regulating Health, Safety, and Environmental Risks in Europe and the United States was published this Spring, will be in the UK on 10 May and will be speaking at the Said Business School, Oxford at 11.30am, and the London School of Economics at 6.30pm.
Please follow links to sign up for either of these events or contact Julia Hall firstname.lastname@example.org for more information.