Taxing the Rich

Taxing the RichIf you didn’t file your taxes on April 15th, you can breathe a sigh of relief. Thanks to the Emancipation Day holiday in the District of Columbia, the tax deadline was switched to April 18 this year. Already ahead of the game? While the final hours tick down, we have just the history of fiscal fairness for you.

In Taxing the Rich, Kenneth Scheve and David Stasavage analyze the history of taxes and take a look at when and why countries tax their wealthiest citizens. The authors argue that governments don’t tax the rich simply because of striking inequality—they do it when its citizens believe that such taxes compensate for the state unfairly privileging the wealthy. What matters most is society’s views on how the inequality is being generated in the first place.

The Atlantic recently wrote about the book, including quotes from Scheve and Stasavage:

Relative to the past 200 years of U.S. history, how heavily are the rich being taxed today? Kenneth Scheve and David Stasavage, professors of political science at Stanford University and New York University respectively, looked into when countries have taxed their wealthiest citizens most heavily, and what societal conditions might have produced those tax rates. In a project that took five years, the two constructed databases of tax rates and policies in 20 countries over the last two centuries in order to answer those questions. They recently published this research in a book, Taxing the Rich: A History of Fiscal Fairness in the United States and Europe.

One of their motivations for starting the project was a disconnect they noticed between rising inequality and static tax rates. “With inequality rising over the last three or four decades, why have there not been public policies that seem to address that in an important and substantive way?” says Scheve. But while it would seem intuitive that taxes would increase at the times when inequality is highest, Scheve and Stasavage found that this relationship hasn’t held true over the course of history.

You can read the full piece in The Atlantic here, and an exclusive interview with Scheve and Stasavage here.

Introducing the trailer for The Little Big Number

Check out our book trailer for The Little Big Number by Dirk Philipsen for an introduction to why the concept of GDP has become harmful in our modern world.

Philipsen

In one lifetime, GDP, or Gross Domestic Product, has ballooned from a narrow economic tool into a global article of faith. It is our universal yardstick of progress. As The Little Big Number demonstrates, this spells trouble. While economies and cultures measure their performance by it, GDP ignores central facts such as quality, costs, or purpose. It only measures output: more cars, more accidents; more lawyers, more trials; more extraction, more pollution—all count as success. Sustainability and quality of life are overlooked. Losses don’t count. GDP promotes a form of stupid growth and ignores real development.

How and why did we get to this point? Dirk Philipsen uncovers a submerged history dating back to the 1600s, climaxing with the Great Depression and World War II, when the first version of GDP arrived at the forefront of politics. Transcending ideologies and national differences, GDP was subsequently transformed from a narrow metric to the purpose of economic activity. Today, increasing GDP is the highest goal of politics. In accessible and compelling prose, Philipsen shows how it affects all of us.

But the world can no longer afford GDP rule. A finite planet cannot sustain blind and indefinite expansion. If we consider future generations equal to our own, replacing the GDP regime is the ethical imperative of our times. More is not better. As Philipsen demonstrates, the history of GDP reveals unique opportunities to fashion smarter goals and measures. The Little Big Number explores a possible roadmap for a future that advances quality of life rather than indiscriminate growth.

Dirk Philipsen is a German- and American-trained professor of economic history, senior fellow at the Kenan Institute for Ethics, and a Duke Arts and Sciences Senior Research Scholar at Duke University. He is the author of We Were the People: Voices from East Germany’s Revolutionary Autumn of 1989. He lives in Durham, North Carolina.

New Economics & Finance Catalog

Our Economics & Finance 2016 catalog is now available.

 

AkerlofShiller In Phishing for Phools, Nobel Prize-winning authors George A. Akerlof and Robert J. Shiller reveal the dark side of the free market, including the role that manipulation and deception play in it.
Gordon Robert J. Gordon explores the period of economic boom following the Civil War and the impact it had on society in The Rise and Fall of American Growth. Then, he argues that this era has now come to a close, analyzing the causes and effects of economic stagnation.
Sandbu Check out Europe’s Orphan by Martin Sandbu, a defense of the beleaguered euro and an analysis of what must be done to achieve prosperity in Europe.
Deaton Nobel prize-winning author Angus Deaton analyzes the remarkable progress that some nations have made over the course of the past 250 years and addresses what steps ought to be taken to aid those nations that have had less success in The Great Escape, now available in paperback.

If you would like updates of new titles, subscribe to our newsletter.

Finally, if you’re in San Francisco for the Allied Social Science Associations Meeting, visit PUP at booth #205.

What do these Nobel prize winning economists have in common?

Princeton Makes. Stockholm Takes.

Princeton University Press is proud to be the publisher of these Nobel Prize-winning economists


2015
Angus DeatonThe Great Escape jacket

The Great Escape: Health, Wealth, and the Origins of Inequality

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.

 

The Theory of Corporate Finance jacket2014 Jean Tirole

The Theory of Corporate Finance

Tirole conveys the organizing principles that structure the analysis of today’s key management and public policy issues, such as the reform of corporate governance and auditing; the role of private equity, financial markets, and takeovers; the efficient determination of leverage, dividends, liquidity, and risk management; and the design of managerial incentive packages.

2013 Lars Peter HansenRobustness jacket

Robustness

What should a decision maker do if the model cannot be trusted? This book adapts robust control techniques and applies them to economics. By using this theory to let decision makers acknowledge misspecification in economic modeling, the authors develop applications to a variety of problems in dynamic macroeconomics.

Irrational Exuberance jacket2013 Robert J. Shiller

Irrational Exuberance

In addition to diagnosing the causes of asset bubbles, Irrational Exuberance recommends urgent policy changes to lessen their likelihood and severity—and suggests ways that individuals can decrease their risk before the next bubble bursts. No one whose future depends on a retirement account, a house, or other investments can afford not to read it.

Handbook of Experimental Economics jacket2012 Alvin E. Roth

The Handbook of Experimental Economics (Edited with John H. Kagel)

This book presents a comprehensive critical survey of the results and methods of laboratory experiments in economics:public goods, coordination problems, bargaining, industrial organization, asset markets, auctions, and individual decision making.

2012 Lloyd S. Shapley

Advances in Game Theory (AM-52) (Edited with Melvin Dresher & Albert William Tucker)

Shapley considers Cooperative Game Theory when discerning various match methods that result in stable matches. In this book, Shapley defines stable matches as no two entities that would prefer one another over their counterparts and recognizes processes to achieve these matches.

2011 Thomas J. SargentConquest of American Inflation jacket

The Conquest of American Inflation

Sargent examines two broad explanations for the behavior of inflation and unemployment in this period: the natural-rate hypothesis joined to the Lucas critique and a more traditional econometric policy evaluation modified to include adaptive expectations and learning. His purpose is not only to determine which is the better account, but also to codify for the benefit of the next generation the economic forces that cause inflation.

2010 Peter DiamondBehavioral Economics and Its Applications

Behavioral Economics and Its Applications (Edited with Hannu Vartiainen)

In this volume, some of the world’s leading thinkers in behavioral economics and general economic theory make the case for a much greater use of behavioral ideas in six fields where these ideas have already proved useful but have not yet been fully incorporated–public economics, development, law and economics, health, wage determination, and organizational economics. The result is an attempt to set the agenda of an important development in economics.

Understanding Institutional Diversity jacket

2009 Elinor Ostrom

Understanding Institutional Diversity

Concentrating primarily on the rules aspect of the IAD framework, this book provides empirical evidence about the diversity of rules, the calculation process used by participants in changing rules, and the design principles that characterize robust, self-organized resource governance institutions.

Mass Flourishing jacket2006 Edmund S. Phelps

Mass Flourishing

Phelps argues that the modern values underlying the modern economy are under threat by a resurgence of traditional, corporatist values that put the community and state over the individual. The ultimate fate of modern values is now the most pressing question for the West: will Western nations recommit themselves to modernity, grassroots dynamism, indigenous innovation, and widespread personal fulfillment, or will we go on with a narrowed innovation that limits flourishing to a few?

2005 Robert J. Aumann

Values of Non-Atomic Games

This book extends the value concept to certain classes of non-atomic games, which are infinite-person games in which no individual player has significance. It is primarily a book of mathematics—a study of non-additive set functions and associated linear operators.

Anticipating Correlations jacket2003 Robert F. Engle III

Anticipating Correlations:A New Paradigm for Risk Management

Engle demonstrates the role of correlations in financial decision making, and addresses the economic underpinnings and theoretical properties of correlations and their relation to other measures of dependence.


2003
Clive W.J. Granger

Spectral Analysis of Economic Time Series (PSME-1) (with Michio Hatanaka)

Spectral Analysis of Economic Time Series expands and implements on innovative statistical methods based on Granger’s differentiating process, “cointegration”. Granger analyzes and compares short-term alterations with long-term patterns.

Identity Economics jacket2001 George A. Akerlof

Identity Economics: How Our Identities Shape Our Work, Wages, and Well-Being (with Rachel E. Kranton)

Identity Economics provides an important and compelling new way to understand human behavior, revealing how our identities–and not just economic incentives–influence our decisions.The authors explain how our conception of who we are and who we want to be may shape our economic lives more than any other factor, affecting how hard we work, and how we learn, spend, and save.

Lectures on Public Economics jacket2001 Joseph Stiglit

Lectures on Public Economics (with Anthony B. Atkinson)

The lectures presented here examine the behavioral responses of households and firms to tax changes. The book then delves into normative questions such as the design of tax systems, optimal taxation, public sector pricing, and public goods, including local public goods.

Martin Sandbu talks euro scapegoating and his new book “Europe’s Orphan” with the Financial Times

Has the euro  been wrongfully scapegoated for the eurozone’s economic crisis? In his new book, Europe’s Orphan: The Future of the Euro and the Politics of Debt, leading economist Martin Sandbu says that it has, arguing that the problems lie not with the euro itself, but with decisions made by policymakers. Sandbu was recently interviewed by Martin Wolf, Financial Times chief economics commentator. You can watch the video here:

Fragile by Design, The Limits of Partnership, and others among Bloomberg Businessweek’s favorite books of 2014

Happy new year 2014It’s nearing the end of the year and that means everyone is taking a look back at the best and worst of the past twelve months. Bloomberg Businessweek recently published a “Best Books of ’14,” list to their site, and five Princeton University Press titles were selected as some of the best of the year!

Mervyn King, former governor of the Bank of England, got things going; “Charles Calomiris and Stephen Haber’s Fragile by Design is a magnificent study of the economics and politics of banking.”fragile

Bjorn Wahlroos, Chairman of Nordea Bank AB (NDA), selected Edmund S. Phelps’s Mass Flourishing: How Grassroots Innovation Created Jobs, Challenge, and Change and wrote, “[Phelps] redraws many political front lines and provides us with an answer to those who believe more public funding for investment and innovation is the road forward for our stagnant economies. It is a marvelous book that deserves to be read by everyone, but particularly by those entrusted with the design of the European future.”mass flourishing

Jeffrey Lacker, president of the Federal Reserve Bank of Richmond selected both Fragile by Design: The Political Origins of Banking Crises and Scarce Credit by Calomiris and Haber and Human Capitalism: How Economic Growth has Made Us Smarter–and More Unequal by Brink Lindsey as his must reads of the year.human

“[Fragile by Design is] hands down the best single book for understanding the historical journey that laid the groundwork for the financial crisis.”

“[Lindsey] argues the case that economic inequality is more deeply intertwined with human capital accumulation and the process of economic growth than you thought.”

Dan Fuss, vice chairman of Loomis Sayles & Co., named The Limits of Partnership: U.S.-Russian Relations in the Twenty-First Century by Angela E. Stent as his choice for favorite book of 2014, while Satyajit Das, author of Traders, Guns, and Money selected The Transformation of the World: A Global History of the Nineteenth Century by Jürgen Osterhammel to round out the list of PUP titles. “Professor Jorgen Osterhammel’s fine book is anything but a linear recitation of events. Instead, it swoops, shimmies, and carves ellipses and spirals through the facts to give readers a remarkable picture of the 19th century, which has shaped much of the present world.”

angela stent world

Congratulations to all the PUP authors on the list! The rest of the article can be found, here.

 

Throwback Thursday #TBT: Richard D. McKinzie’s The New Deal for Artists (1973)

McKinzie, The New Deal for Artists

Hello again, folks! It’s time for another installment of Throwback Thursday! On this week’s #TBT, we’ll be discussing The New Deal for Artists by Richard D. McKinzie.

As for the rest of America, the Great Depression proved to be a trying time for America’s artists. Great innovators like Willem de Koonig, Arshille Gorky, Jackson Pollock, and Adolf Gottlieb found themselves producing rather conventional work under the patronage of the Roosevelt administration, struggling to maintain their integrity and stay afloat financially. This book traces the struggles, triumphs, and setbacks of America’s Depression-era artists under New Deal policies as they navigated through the worst economic turmoil the country has ever faced.

We hope you’ve enjoyed this edition of #TBT! Don’t forget to check out next week’s installment!

Book trailer for Atlas of Cities edited by Paul Knox


Princeton University Press senior designer Jason Alejandro created this book trailer for Atlas of Cities edited by Paul Knox. (The catchy song in the background is the aptly named “Weekend in the City” by Silent Partner.)

8-7 Atlas of Cities Atlas of Cities
Edited by Paul Knox

 

Butting Heads (and iPhones): Economists Robert Gordon and Joel Mokyr Duke it Out in the Wall Street Journal

Photo Credit: WSJ.comNorthwestern Professors of Economics Robert Gordon and Joel Mokyr just can’t seem to get along.

In this past weekend’s edition of The Wall Street Journal, the two voice some distinctly adverse ideas about technological innovation in the twenty-first century – on the one hand, its success, and on the other, its stagnation.

Professor Mokyr, author of The Gifts of Athena: Historical Origins of the Knowledge Economy and co-author of The Invention of Enterprise: Entrepreneurship from Ancient Mesopotamia to Modern Times is an economic historian who’s altogether positive about the economic direction of the world-at-large. But this isn’t just blind optimism; in fact, it’s due in large part to the rapid rate of technological innovation. Mokyr notes that “new tools have led to economic breakthroughs,” and that since the field of technology is vast and unremitting, we’re hardly in danger of economic collapse.


“The divergent views are more than academic. For many Americans, the recession left behind the scars of lost jobs, lower wages and depressed home prices. The question is whether tough times are here for good. The answer depends on who you ask.”


But Professor Gordon, a macroeconomist and author of the forthcoming book Beyond the Rainbow: The American Standard of Living Since the Civil War (Princeton), and of the best-selling textbook, Macroeconomics, is hugely skeptical of such theories. He asks us to compare useful and revolutionary objects, like the flushing toilet, to the newest iPad; the former, already invented, is indispensable. Everything created thereafter is simply excess – the cherry on top, if you will. And, as new developments become only incrementally more advanced than their predecessors, technological progress will slowly grind to an anticlimactic halt.

The op-ed also gives some interesting background on both Gordon and Mokyr and tries to posit the origins of their respective beliefs, whether positive or negative. Despite their conflicts, the two can concede to one point: that the twenty-first century is unarguably the best time to be born, and the revelation is certainly an encouraging one.

Princeton at Hay Festival


Hay on Monday evening
Blackburn at Hay
Simon Blackburn talks to Rosie Boycott
Mitton at Hay
Jacqueline Mitton broadens our knowledge of the solar system
Bethencourt at Hay
Francisco Bethencourt discusses “Racisms”

Last week was an important week in the British literary calendar–the week of Hay Festival! Set in beautiful Hay-on-Wye on the Welsh Borders, and running since 1988, the festival attracts thousands of book and culture enthusiasts from around the world every year. This year’s line-up was as strong as ever: with names such as Toni Morrison, Richard Dawkins, Stephen Fry, Mervin King, Jeremy Paxman, Simon Schama, Sebastian Faulks, William Dalrymple, Benedict Cumberbatch, Bear Grylls, Max Hastings, Rob Brydon, Bill Bailey and Dame Judi Dench (to name but a few to catch my eye in the jam-packed programme), 2014’s Festival could not fail to enthrall and delight anyone who walked its muddy paths.

And of course, Princeton University Press authors have been gracing the Hay stages this year, with a variety of wonderful events. From Diane Coyle, explaining GDP to us in plain English (and lo0king very stylish in her Hay wellies) to Michael Wood (translator of Dictionary of Untranslatables) discussing words that defy easy–or any–translation from one language and culture to another, to Ian Goldin’s talk about globalization and risk (The Butterfly Defect), last weekend got off to a great start.

Then, earlier in the week, Jacqueline Mitton (author of From Dust to Life) took a gripped audience on a journey through the history of our solar system in her “John Maddox Lecture”.  On Tuesday, Rosie Boycott spoke to Simon Blackburn about his book Mirror, Mirror–a fascinating conversation which covered everything from psychopathic tendencies displayed in senior management to whether Facebook is really that damaging to the young. Francisco Bethencourt, meanwhile, managed to squeeze a history of racisms into an hour and gave us lots to ponder.

If all this leaves you wishing you’d been there, there is still more to envy! Later in the week, Roger Scruton, Will Gompertz and others discussed the value of a Fine Art degree – does contemporary art celebrate concept without skill? On a parallel stage, renowned historian Averil Cameron (author of Byzantine Matters) convinced us that an understanding of the Byzantine era is just as important as studying, say, Rome or Greece. Finally, Michael Scott (author of Delphi), whom it is almost impossible to miss on the BBC these days, delivered a talk about Delphi: A History of the Center of the Ancient World on Friday.

Whether you swoon for science are potty for poetry, whether you want to dance the night away in a frenzy of jazz or are hoping to meet your favourite on-screen star, Hay Festival offers something new and exciting every year.

Quick Questions for Ignacio Palacios-Huerta, author of Beautiful Game Theory: How Soccer Can Help Economics

5-28 Palacios-HuertaIgnacio Palacios-Huerta is professor of management, economics, and strategy at the London School of Economics and Political Science. He received a B.Sc. in Economics from the University of the Basque Country in Bilbao, Spain, and an M.A. in Economics from the University of Chicago, where he also completed his Ph.D. in Economics. Palacios-Huerta is also the Head of Talent Identification at the Athletic Club de Bilbao and is a Senior Fellow at the Ikerbasque-Basque Foundation for Science at UPV/EVU.

Dr. Palacios-Huerta is a contributing editor of In 100 Years (MIT), an engaging text that draws on the expertise and imagination of ten prominent economists to “present their ideas about the world of the twenty-second century,” considering topics like “the transformation of work and wages, the continuing increase in inequality, and the economic rise of China and India,” among others. He continues to produce scholarship on economic theory and has several articles, like “Consumer Inertia, Choice Dependence and Learning from Experience in a Repeated Decision Problem” (Review of Economics and Statistics), up for publication in 2014.

Now, on to the questions!

PUP: What do you think is the book’s most important contribution?
Ignacio Palacios-Huerta: In recent decades, economics has extended across many fields and areas previously considered to belong to sociology, political science, psychology, and several other sciences. What distinguishes this book is that its basic idea is just the opposite: it is not what economics can do for area or field X, but what X can do for economics. And so it takes exactly the opposite route. In the book X is, of course, soccer. And the idea is to attempt to obtain and present novel insights into human behavior using data and settings from soccer. This is what distinguishes this book from other economics books and from other books on the study of sports, and I think it is its most important contribution. After all, if the economic approach is applicable to all human behavior, then any type of data about human activity is useful to evaluate economic theories.

What is the biggest misunderstanding that people have about what you do? (I.e., is it anthropology? Economics? etc.)
I think this picture (taken from N. Gregory Mankiw’s blog) captures quite well a number of misunderstandings:

What+Economits+Do[1]

What are you reading right now?
A novel by Ramiro Pinilla, Aquella Edad Inolvidable, a biography of British graffiti artist Banksy by Will Ellsworth-Jones, and Seven Deadly Sins: My Pursuit of Lance Armstrong by David Walsh.

What was the most influential book you’ve read?
I would say, for different reasons, these three books are tied in first place:

Economic Theory by Gary S. Becker; A Treatise of Human Nature by David Hume; and The Passions and the Interests by Albert Hirschman (Princeton).

Describe your writing process. How long did it take you to finish your book? Where do you write?
The actual writing took me around 4-5 months, but I was thinking about it for a long time, probably around 3-4 years, collecting data, developing experiments, running the different empirical tests, and reading and keeping relevant stories and anecdotes in my mind to make the book as engaging as possible.

What was the biggest challenge involved with bringing this book to life?
Lack of time: time to think, and time to work and write.


“The idea is to attempt to obtain and present novel insights into human behavior and data settings from soccer. […] I am interested in pushing the economic approach to human behavior.”


Why did you write this book?
Two reasons. First, as indicated in the first question, there is a clear aspect that distinguishes this book from other economics books and from other books on the study of sports. To the best of my knowledge this is the first book that takes this novel approach, and so I felt that, from this perspective, there was a genuine chance to present a unique contribution. Second, I am interested in pushing the economic approach to human behavior. And so, if any type of data about human activity is useful to evaluate economic theories, what could possibly be most appealing to a wide audience than data from sports, and in particular data from the world’s most popular sport?

Who do you see as the audience for this book?
Anyone interested in economics, anyone interested in sports, and anyone who thinks that he or she might perhaps become interested in economics and/or in sports, especially if he or she has a curious or scientific mind.

How did you come up with the title or jacket?
The title was a suggestion by the initial editor of the book at Princeton University Press, Richard Baggaley, and by my colleague at the London School of Economics, David De Meza. They both, independently of each other, had the same suggestion. And as soon as they suggested this title, I thought it was great. I really liked it and instinctively knew that it would be the title of the book.

With respect to the jacket, it was a suggestion by an excellent designer at Princeton University Press. I suggested some ideas, and one of them was distantly related to the one in the final jacket since it contained a “bicycle kick.” But the jacket is more striking and spectacular than anything I could have come up with. I really like it.

________________________________________________________________________________________________________________________________________________________

Ignacio is the author of:

5-28 Palacios-Huerta BGT Beautiful Game Theory: How Soccer Can Help Economics by Ignacio Palacios-Huerta
Hardcover | 2014 | $35.00 / £24.95 | ISBN: 9780691144023
224 pp. | 6 x 9 | 30 line illus.| eBook | ISBN: 9781400850310 |Reviews Table of Contents Introduction[PDF]

Quick Questions for Diane Coyle, author of GDP: A Brief but Affectionate History

Coyle_GDP_author photoDiane Coyle is an economist specializing in the economics of new technologies and in competition policy. She has missions to improve both the public understanding of economics and the teaching of economics to new generations. A Visiting Research Fellow at the Smith School of Enterprise and the Environment, University of Oxford, her previous books include The Economics of Enough and The Soulful Science: What Economists Really Do and Why It Matters.

We have just published GDP: A Brief but Affectionate History (“[A] little charmer of a book…” according to the Wall Street Journal). 

She writes an awesome blog called The Enlightened Economist that should be on your daily must-read list.

Now, on to the questions!

 

What inspired you to get into your field?

A brilliant tutor. I went to university with the aim of becoming a philosopher, planning for a career sitting in Parisian cafes thinking deep thoughts. But Peter Sinclair, now Professor of Economics at the University of Birmingham, inspired me with his enthusiasm for economics and its power to explain and perhaps even improve the world.


The way people think of ‘the economy’ has changed so much over time.


What is the biggest misunderstanding people have about what economists do?

Most people think that economics is mainly macroeconomic forecasting, and they think most economics is based on the assumption that we are all selfish and ultra-rational, and only care about money. A generation ago, a narrow approach to economics did dominate the subject, and there are still some economists who don’t see anything wrong with the reductionist version, but most of the economics practiced today is far, far more in touch with the ‘real world’. Unfortunately, the update hasn’t yet reached economics textbooks and courses – hence the importance of the INET CORE curriculum project.

What would you have been if not an economist?

A dancer – not that I’d have been good enough!

What was the most interesting thing you learned from writing GDP?

It was that the way people think of ‘the economy’ has changed so much over time. We have Angus Maddison’s figures based on calculations of GDP going back through time, but up until the mid-20th century this was not how people thought about the aggregate economy. GDP and Keynesian macroeconomics co-evolved.

What do you think is the book’s most important contribution?

To demystify GDP, which most people hear as gobbledygook on the news; and to remind or tell them that how we measure economic activity is the result of many conventions and judgments. There is no natural object called GDP out there – it is a human construction, and what it measures is not well-being or social welfare, but simply a specific definition of economic activity.

Describe your writing process. How long did it take you to finish your book? Where do you write?

I fit the research around day to day life but need to find chunks of time for writing. This means my patient family are used to me spending a couple of hours every day tapping away at my laptop when we’re on holiday. I managed one (short) book once on maternity leave, typing one handed with the baby on the other arm.


There is no natural object called GDP out there – it is a human construction.


Do you have advice for other authors?

Just start. Write a lot and read a lot, as writing is a craft skill. Read George Orwell on the English language if that’s the language you’re writing in. And for non-fiction, you have to find a system for organizing the ideas and material – I always find this the hardest part and there’s always a stage when I have pieces of paper with headings laid out over the floor of my study.

What are you reading right now?

Thomas Piketty’s Capital in the 21st Century, and The Infatuations by Javier Marias.

What is your next project?

I’m helping out on that project. I’m writing a new public policy economics course to teach to undergraduates at the University of Manchester. In terms of research, I’m interested in two aspects of digital change: the continuing reshaping of supply chains, through both organizational and geographic change; and the implementation of public policy. There’s no point doing a wonderful economic analysis of a policy issue if you don’t also think about the political economy and practicality of implementation.

 


 

bookjacket GDP: A Brief but Affectionate History
Diane CoyleHardcover | $19.95 / £13.95 | ISBN: 9780691156798
168 pp. | 5 1/2 x 8 1/2 | 2 halftones. 2 line illus. 2 tables.eBook | ISBN: 9781400849970

Reviews

Table of Contents

Sample the Introduction[PDF]