On Influence: Robert Hayden in Dakar

After having a conversation about a novel I’ve since forgotten, my undergraduate literature professor at the University of Michigan gave me a paperback copy of Robert Hayden’s Collected Poems.  Perhaps this gesture was to end our conversation as he had a flight to catch or, more effectively, optimistically, this was to preface another: one that would extend more than an hour in an office?  I hadn’t heard of Hayden or his poetry, so I was curious, especially since my professor gave me the book and said, “read” before leading me outside the office, locking the door and exiting the building.

There I was in front of the building, in front of the heavy oak and glass doors waving to a swiftly- moving-wrinkled trench coat and holding that gray book thinking it matched the sky’s grayness, the pavement’s grayness, the grayness of my sweater, the grayness I felt.  My professor didn’t even say, I think you’ll like it.  Or this is a necessary poet, or by reading these poems your poetry may deepen.  I was uncertain he knew I actually wrote, attempted to write, hoped to write.

I went to the café on State Street, ordered a green tea and began reading that book.  There was a progression, a movement in those poems, in myself as I read.  Those stark-glimmering short lines, the longer lines that seemed to float from the page, absorb into the air like sandalwood or the oily spray of clementine peels.  His poems speak to beauty, tragedy, Americanness, African-Americanness, myths both African and Western, the natural world, the personal, urbanity and rurality.  All of these strands stitched into poems where the stitching is invisible, where I surrendered to that language and craft.  I had found a poet to follow, to aspire association.  I had found an imagination to step within, believe, one that would magnify my own. 

I didn’t read the whole book in that café but did in my dorm room that evening.  For a couple of days around campus and to my classes, I wore a silk bowtie in his honor— it ended up not being my style or rather, due to peer pressure, I stopped.  However, I kept the loosened tie on top of my dresser just to remember, to ponder Hayden.

In the following two weeks, I thanked my professor for the book.  He nodded and from there we talked about the poems, specifically their breadth and keen structures.  We talked about Hayden’s beautiful imagination despite his devastating childhood.  He wrote a poem in the voice of an extraterrestrial giving an eyewitness report of America.  What? I said.  My professor responded, “I see you.”  There was silence, a good silence.  He knew I needed those poems.  He knew I needed that book.  He knew I needed to know Hayden. 

He broke the silence to say Hayden had taught at the University for several years, before my time, our time.  But what mattered was he’d been there, and his presence, his energy remained.   

Hayden heightened my sense of possibility as a poet.  That wide imagination could live in the poems I would write.

Years later, I read of Hayden garnering the grand prize for poetry at the First World Festival of Negro Arts in Dakar, Senegal in 1966.  A year later, he attended the ceremony in New York City to receive the award from Senegal’s first president Leopold Senghor.  Langston Hughes was at that ceremony and there asked Hayden to autograph his Selected Poems

I don’t believe Hayden was in Dakar when his award was announced in 1966.  When I traveled to Dakar in 2014, I thought of Hayden.  I wondered how he would have absorbed that city.  How he would have walked in the sun with all of that pink sand on the ground, the light dusting of it on roofs and windshields of parked cars.  I wondered what poems he would have made if he’d see the hustle of that city, the beauty of it and its people, its pace.  I wondered what meal he and Senghor would have had together.  And if, after the tea was poured, they’d read each other’s new poems pulled, simultaneously, from the hidden pockets of their linen blazers. 

But this is just me wondering, imagining.  These poems may be the ones I will, at some point write with my eyes closed to the sun. 

Myronn Hardy is the author of four previous books of poems: Approaching the Center, winner of the PEN/Oakland Josephine Miles Prize; The Headless Saints, winner of the Hurston/Wright Legacy Award; Catastrophic Bliss, winner of the Griot-Stadler Award for Poetry; and, most recently, Kingdom. He divides his time between Morocco and New York City.

The Rise of the Audiobook

PUP AudioOnce considered a format predominantly for the visually impaired, audiobooks have become increasingly popular in recent years.  According to Publishing Perspectives, “a six-year trend of double-digit growth in audiobook sales continues in the US [and] … audiobook sales [in 2017] totaled more than $2.5 billion”. In the UK, “audiobook sales are continuing to rocket, with a number of the biggest publishers in the space confirming they are still experiencing “strong double-digit growth” year on year” according to The Bookseller.

In addition to being a publicist in PUP’s European office, I am also a passionate consumer of audiobooks. This has let me to wonder: what has wrought this relatively sudden increase in what many had written off as a dying format, gathering dust in the form of bulky CD box sets? Well, put simply; the smartphone. After Apple released the iPhone, it was possible to have a library of fiction and factual knowledge in your pocket.

The audio industry has kept pace with others when it comes to digitizing content, and a vast array of titles can be downloaded when out and about in a matter of seconds. Most audio consumption is now done through apps, either by a subscription model where you get a certain number of credits per month (from companies such as Audible – Amazon’s audio platform and the biggest in the field – and Libro.fm), from public libraries where you can listen for free but may have to wait for a book (such as Hoopla and OverDrive’s Libby) or on an all-you-can-eat monthly subscription model such as Scribd and Hibooks.

Audiobooks are popular for several reasons: many people find it easier to ingest information aurally rather than visually; you can make your way through the complete works of Dickens whilst doing your weekly housework or other chores; audiobooks are great for driving, exercising and other tasks that couldn’t be done whilst reading a book. There is evidence that some people use the companionship of an audiobook to combat loneliness. I personally find that familiar audiobooks can be very comforting when travelling abroad alone, and can even calm my nerves whilst sitting in the dentist’s chair!                          

Under the leadership of our Digital and Audio Publisher, Kimberley Williams, Princeton University Press embarked on a new audiobook program in 2018, releasing our first in-house audiobook, On the Future: Prospects for Humanity by UK Astronomer Royal Martin Rees and narrated by Samuel West in October. This was followed by Michael Rosen’s edited collection of Workers’ Tales: Socialist Fairy Tales, Fables, and Allegories from Great Britain and a handful of other great titles. One of the joys of audio is finding the right narrator for each book, and we had great fun with Workers’ Tales, casting a wonderful group of narrators, including Samuel West, the inimitable Miriam Margolyes, and Michael Rosen himself.

In December 2018, I was thrilled to travel to Bath to the recording studios of PUP’s audio partner, Sound Understanding. I was there to witness Juliet Stevenson, star of stage and screen and one of the UK’s most beloved audiobook narrators, recording her first audiobook for us, Why Nationalism by Yael Tamir. I was interested to find out how audiobooks are recorded, how a narrator prepares for recording, and whether some books lend themselves to audio more so than others.

I visited the studio on the third day of recording, just as Juliet was finishing up her narration and recording some of the retakes, which allowed her the time to speak with me about the recording process. Juliet explained that these days, they record using the “Rock ‘n’ Roll” method, which means that if you “fluff” your words, you simply start again from the beginning of that sentence or paragraph, and the producer will cut the fluffed line out later on. (This explains the many times I have heard repeated sentences in audiobooks over the years – clearly missed by less vigilant producers!)

As for preparation, Juliet admitted that she doesn’t always finish the book before starting to record, but she always reads the section she is recording beforehand, in order to prepare the tone and rhythm as intended by the author. Then, she says, you have to prepare the characters: “In my head I often cast them . . . I might think of an actor, or I might think of . . . the lollipop lady on the street outside my kids’ school, I might think of a school mum . . . and then I cast him or her in my head, and then it’s a very quick jump” from character to character in a big scene.

Juliet’s main advice to an author writing a book with a view to it being recorded as an audiobook was to “Think about the rhythm of the spoken word . . . maybe when you’re writing, occasionally pick a random paragraph or two or three, and read them out loud and see how the rhythms are working when they’re read out loud . . . think musically”. However, she did not feel entitled to give too much direction to authors as she firmly believes that the role of the narrator is “not to get in the way of the writer . . . not [to] impose your own response to the story in between the writer and the listener . . . You’re delivering it up for the listener. The listener and the writer are the two most important people”.

My visit to the Sound Understanding studios showed how much work goes into making an audiobook; from finding the right narrator in the casting process, to the narrator’s careful preparation and casting of voices for characters, to the careful editing after recording, and much more.

Princeton University Press’s audiobook program is off to a strong start, and we have a great list of titles lined up for audio next season. Kimberley intends to grow PUP’s audiobook publishing year on year, through publishing and licensing, with the aim of making at least 65 books available each year in audio. As a passionate audiobook listener, I am excited about this new chapter in PUP’s publishing, and look forward to consuming many more PUP books in this wonderful format.

The full interview with Juliet Stevenson will be available shortly

–Katie Lewis, Senior Publicist, UK


Browse our 2019 Art Catalog

We are pleased to announce our new Art catalog for 2019! Among the exciting new titles are an exploration of how cataclysmic social and political transformations in nineteenth-century Europe reshaped artists’ careers, a unique companion to the Tale of Genji featuring paintings and calligraphy from the Genji Album, and a pathbreaking book about Joris Hoefnagel’s stunning and eccentric Four Elements  manuscripts.

You can find these titles and more at Booth 508 at CAA this week. On Friday, February 15, at 4:30 p.m., we’ll be celebrating this year’s new books and authors with a reception at the booth. All are welcome.


Crow Restoration cover

As the French Empire collapsed between 1812 and 1815, artists throughout Europe were left uncertain and adrift. The final abdication of Emperor Napoleon, clearing the way for a restored monarchy, profoundly unsettled prevailing national, religious, and social boundaries. In Restoration, Thomas Crow combines a sweeping view of European art centers with a close-up look at pivotal artists, including Antonio Canova, Jacques-Louis David, Théodore Géricault, Francisco Goya, Jean-Auguste-Dominique Ingres, Thomas Lawrence, and forgotten but meteoric painters François-Joseph Navez and Antoine Jean-Baptiste Thomas.


McCormick Tale of Genji cover

Written in the eleventh century by the Japanese noblewoman Murasaki Shikibu, The Tale of Genji is a masterpiece of prose and poetry that is widely considered the world’s first novel. Melissa McCormick provides a unique companion to Murasaki’s tale that combines discussions of all fifty-four of its chapters with paintings and calligraphy from the Genji Album (1510) in the Harvard Art Museums, the oldest dated set of Genji illustrations known to exist. In this book, the album’s colorful painting and calligraphy leaves are fully reproduced for the first time, followed by McCormick’s insightful essays that analyze the Genji story and the album’s unique combinations of word and image.


Bass Insect Artifice cover

Insect Artifice explores the moment when the seismic forces of the Dutch Revolt wreaked havoc on the region’s creative and intellectual community, compelling its members to seek solace in intimate exchanges of art and knowledge. At its center is a neglected treasure of the late Renaissance: the Four Elements manuscripts of Joris Hoefnagel (1542–1600), a learned Netherlandish merchant, miniaturist, and itinerant draftsman who turned to the study of nature in this era of political and spiritual upheaval. Presented here for the first time are more than eighty pages in color facsimile of Hoefnagel’s encyclopedic masterwork, which showcase both the splendor and eccentricity of its meticulously painted animals, insects, and botanical specimens.


Ken Steiglitz on The Discrete Charm of the Machine

SteiglitzA few short decades ago, we were informed by the smooth signals of analog television and radio; we communicated using our analog telephones; and we even computed with analog computers. Today our world is digital, built with zeros and ones. Why did this revolution occur? The Discrete Charm of the Machine explains, in an engaging and accessible manner, the varied physical and logical reasons behind this radical transformation. Ken Steiglitz examines why our information technology, the lifeblood of our civilization, became digital, and challenges us to think about where its future trajectory may lead.

What is the aim of the book?

The subtitle: To explain why the world became digital. Barely two generations ago our information machines—radio, TV, computers, telephones, phonographs, cameras—were analog. Information was represented by smoothly varying waves. Today all these devices are digital. Information is represented by bits, zeros and ones. We trace the reasons for this radical change, some based on fundamental physical principles, others on ideas from communication theory and computer science. At the end we arrive at the present age of the internet, dominated by digital communication, and finally greet the arrival of androids—the logical end of our current pursuit of artificial intelligence. 

What role did war play in this transformation?

Sadly, World War II was a major impetus to many of the developments leading to the digital world, mainly because of the need for better methods for decrypting intercepted secret messages and more powerful computation for building the atomic bomb. The following Cold War just increased the pressure. Business applications of computers and then, of course, the personal computer opened the floodgates for the machines that are today never far from our fingertips.

How did you come to study this subject?

I lived it. As an electrical engineering undergraduate I used both analog and digital computers. My first summer job was programming one of the few digital computers in Manhattan at the time, the IBM 704. In graduate school I wrote my dissertation on the relationship between analog and digital signal processing and my research for the next twenty years or so concentrated on digital signal processing: using computers to process sound and images in digital form.

What physical theory played—and continues to play—a key role in the revolution?

Quantum mechanics, without a doubt. The theory explains the essential nature of noise, which is the natural enemy of analog information; it makes possible the shrinkage and speedup of our electronics (Moore’s law); and it introduces the possibility of an entirely new kind of computer, the quantum computer, which can transcend the power of today’s conventional machines. Quantum mechanics shows that many aspects of the world are essentially discrete in nature, and the change from the classical physics of the nineteenth century to the quantum mechanics of the twentieth is mirrored in the development of our digital information machines.

What mathematical theory plays a key role in understanding the limitations of computers?

Complexity theory and the idea of an intractable problem, as developed by computer scientists. This theme is explored in Part III, first in terms of analog computers, then using Alan Turing’s abstraction of digital computation, which we now call the Turing machine. This leads to the formulation of the most important open question of computer science, does P equal NP? If P equals NP it would mean that any problem where solutions can just be checked fast can be solved fast. This seems like asking a lot and, in fact, most computer scientists believe that P does not equal NP. Problems as hard as any in NP are called NP-complete. The point is that NP-complete problems, like the famous traveling problem, seem to be intrinsically difficult, and cracking any one of them cracks them all.  Their essential difficulty manifests itself, mysteriously, in many different ways in the analog and digital worlds, suggesting, perhaps, that there is an underlying physical law at work. 

What important open question about physics (not mathematics) speaks to the relative power of digital and analog computers?

The extended Church-Turing thesis states that any reasonable computer can be simulated efficiently by a Turing machine. Informally, it means that no computer, even if analog, is more powerful (in an appropriately defined way) than the bare-boned, step-by-step, one-tape Turing machine. The question is open, but many computer scientists believe it to be true. This line of reasoning leads to an important conclusion: if the extended Church-Turing thesis is true, and if P is not equal to NP (which is widely believed), then the digital computer is all we need—Nature is not hiding any computational magic in the analog world.

What does all this have to do with artificial intelligence (AI)?

The brain uses information in both analog and digital form, and some have even suggested that it uses quantum computing. So, the argument goes, perhaps the brain has some special powers that cannot be captured by ordinary computers.

What does philosopher David Chalmers call the hard problem?

We finally reach—in the last chapter—the question of whether the androids we are building will ultimately be conscious. Chalmers calls this the hard problem, and some, including myself, think it unanswerable. An affirmative answer would have real and important consequences, despite the seemingly esoteric nature of the question. If machines can be conscious, and presumably also capable of suffering, then we have a moral responsibility to protect them, and—to put it in human terms—bring them up right. I propose that we must give the coming androids the benefit of the doubt; we owe them the same loving care that we as parents bestow on our biological offspring.

Where do we go from here?

A funny thing happens on the way from chapter 1 to 12. I begin with the modest plan of describing, in the simplest way I can, the ideas behind the analog-to-digital revolution.  We visit along the way some surprising tourist spots: the Antikythera mechanism, a 2000-year old analog computer built by the ancient Greeks; Jacquard’s embroidery machine with its breakthrough stored program; Ada Lovelace’s program for Babbage’s hypothetical computer, predating Alan Turing by a century; and B. F. Skinner’s pigeons trained in the manner of AI to be living smart bombs. We arrive at a collection of deep conjectures about the way the universe works and some challenging moral questions.

Ken Steiglitz is professor emeritus of computer science and senior scholar at Princeton University. His books include Combinatorial OptimizationA Digital Signal Processing Primer, and Snipers, Shills, and Sharks (Princeton). He lives in Princeton, New Jersey.

Browse our 2019 Computer Science Catalog

Our new Computer Science catalog includes an introduction to computational complexity theory and its connections and interactions with mathematics; a book about the genesis of the digital idea and why it transformed civilization; and an intuitive approach to the mathematical foundation of computer science.

If you’re attending the Information Theory and Applications workshop in San Diego this week, you can stop by the PUP table to check out our computer science titles!


Mathematics and Computation provides a broad, conceptual overview of computational complexity theory—the mathematical study of efficient computation. Avi Wigderson illustrates the immense breadth of the field, its beauty and richness, and its diverse and growing interactions with other areas of mathematics. With important practical applications to computer science and industry, computational complexity theory has evolved into a highly interdisciplinary field that has shaped and will further shape science, technology, and society. 


Steiglitz Discrete Charm of the Machine book cover

A few short decades ago, we were informed by the smooth signals of analog television and radio; we communicated using our analog telephones; and we even computed with analog computers. Today our world is digital, built with zeros and ones. Why did this revolution occur? The Discrete Charm of the Machine explains, in an engaging and accessible manner, the varied physical and logical reasons behind this radical transformation, and challenges us to think about where its future trajectory may lead.

Lewis Zax Essential Discrete Mathematics for Computer Science

Discrete mathematics is the basis of much of computer science, from algorithms and automata theory to combinatorics and graph theory. This textbook covers the discrete mathematics that every computer science student needs to learn. Guiding students quickly through thirty-one short chapters that discuss one major topic each, Essential Discrete Mathematics for Computer Science can be tailored to fit the syllabi for a variety of courses. Fully illustrated in color, it aims to teach mathematical reasoning as well as concepts and skills by stressing the art of proof.

Francesca Trivellato on The Promise and Peril of Credit

The Promise and Peril of Credit takes an incisive look at pivotal episodes in the West’s centuries-long struggle to define the place of private finance in the social and political order. It does so through the lens of a persistent legend about Jews and money that reflected the anxieties surrounding the rise of impersonal credit markets.

What are the promises and the perils of credit?

This is a book about the distant past, but to understand its import, we may think about the fallout of the 2008 financial crisis. After the collapse of Lehman Brothers and the foreclosure crisis, a few radical voices called for an end to capitalism. But most people, in one way or another, demanded a fairer capitalism in which Main Street gains as much as Wall Street, and in which ever more intricate financial instruments provide for all and not just for savvy and well-connected insiders. The problem is that we cannot agree on what constitutes fair capitalism. Variations of this ideological and regulatory struggle have existed in Europe since the year 1000, when the Commercial Revolution of the Middle Ages set in motion the first sustained period of demographic and economic expansion on the continent after the fall of the Roman empire. The more people participated in market exchanges, the more difficult it became to distinguish reliable from bad borrowers, trustworthy from shady bankers.

What is the legend that the books uncovers?

The legend tells the story of Jews fleeing the kingdom of France sometime between the seventh and the fourteenth centuries who invented marine insurance and bills of exchange in order to salvage whatever they could of their assets. The legend is false: Jews did not invent marine insurance and bills of exchange, though they were chased from France multiple times during the Middle Ages and every expulsion was accompanied by confiscation of goods. The first rendition of the legend appeared in print in 1647 in a collection of maritime laws.

What are bills of exchange?

Marine insurance at the time worked in the same way as modern insurance works, but bills of exchange are no longer in use. They were at once a credit instrument and a way of transmitting money abroad in a foreign currency. Picture MoneyGram meets a personal check. Materially, they were slips of papers even smaller than a modern check, scribbled in code (details can be gleaned on the book cover). Bills of exchange allowed merchants to transfer funds rather than risk the theft or the loss at sea of their silver coins. In the hands of the most experienced merchants, they were used to conduct complex speculative financial transactions that were entirely divorced from the purchase and sale of material goods. Bills of exchange symbolized all that was abstract, intangible, arcane, helpful but also potentially dangerous in the growing credit economy of early modern Europe. They were the derivatives of their time.

Why should we care about the legend that attributed to medieval Jews the invention of bills of exchange?

Because it was a preferred way in which until a hundred years ago writers discussed a question that is central to the history of the West: how can we expand the number and range of people who enter the marketplace but control their good behavior? The impersonality of the market is both appealing and threatening. Before and after Adam Smith, the invisible hand was only one of the idealized solutions to the problem of oligopolies. Many writers resorted to Jewish usury as a metaphor to denounce the asymmetries of powers that plagued the market. In this they were assisted by stockpiles of anti-Jewish prejudice images. In its original formulation the legend I discuss adapts this arsenal of anti-Jewish sentiments to denounce the dark forces that could led good Christian borrowers to loose small and large fortunes. Jews were a universal symbol of financial malpractice, to attribute the invention of Europe’s key credit instruments to Jews did not mean that Christians could not put those instruments to good use, but it meant that marine insurance and bills of exchange were tainted by usury as their original sin.

If the legend is as important as you claim, why does no one knows about it?

There are several reasons the legend is forgotten. Bills of exchange have fallen out of use and we have ceased to wonder where they came from. Moreover, economic historians now tend to search for the origins of those financial institutions that have survived into the present, notably the stock market, which developed in 1600 but affected many fewer people than the hundred thousands who handled marine insurance and bills of exchange. There is also a tendency to assume that Jews, both real and imaginary, mattered to European economic thought only in the Middle Ages, before the emergence of a secular “science of commerce” emerged. This is simply not true. Religious language continued to inform most economic writing in the early modern period. To accuse a Christian merchant of being “Jewish” was a way of equating their behavior to that of Jews, who supposedly wished to rob Christians of their wealth.

How did Jews react to the circulation of this legend?

I wish I knew what Jews told each other about a story that some of them surely heard in one version or another. Some Jewish writers did engage with the legend in writing, especially in the nineteenth century. To my knowledge, the first to do so was the father of British prime minister Benjamin Disraeli, who had his children baptized, making his son’s political career possible. In some quarters, the legend was a source of Jewish pride and fed the genre known as Jewish-contributions-to-civilization by touting Jewish financial prowess. Other Jewish authors firmly rejected a legend that they saw as mobilizing insidious stereotypes.

Why don’t you ever mention Shylock in a book about Jews and credit?

Some historians have tried to pin down the sources of Shakespeare’s imagination by establishing whether one Jewish merchant or another living in the Venice ghetto in the 1590s may have served as a model for the great English writer. I regard such efforts as futile: literary imagination is not more or less compelling because it is based on identifiable facts. But if we want to judge one of the masterpieces of Renaissance theater by its empirical validity, then The Merchant of Venice would fail the test. The pound of flesh is only one of the dubious references in the play. Shylock would have lent money to Antonio by means of a bill of exchange. Only poor Christians had to deposit a pledge to borrow a small sum in the ghetto. A patrician like Antonio could borrow by using his reputation as collateral. After 1589, when international Jewish merchants hailing from Iberia found a safe haven in Venice, Antonio would have found Jewish merchants able and willing to issue him a bill of exchange. The figure of Shylock really tells us that the Jewish usurer, one of the most long-lasting figments of the Western imagination, was a protean symbol that encompassed stereotypes of both the parasitic Jewish poor and the rapacious Jewish capitalist.

Francesca Trivellato is professor in the School of Historical Studies at the Institute for Advanced Study in Princeton. She is the author of The Familiarity of Strangers: The Sephardic Diaspora, Livorno, and Cross-Cultural Trade in the Early Modern Period.

Alberto Alesina, Carlo Favero and Francesco Giavazzi on Austerity

AusterityFiscal austerity is hugely controversial. Opponents argue that it can trigger downward growth spirals and become self-defeating. Supporters argue that budget deficits have to be tackled aggressively at all times and at all costs. In this masterful book, three of today’s leading policy experts cut through the political noise to demonstrate that there is not one type of austerity but many. Bringing needed clarity to one of today’s most challenging subjects, Austerity charts a sensible approach based on data analysis rather than ideology.

What is controversial about fiscal austerity?

The term austerity indicates a policy geared toward the sizeable reduction of government deficits and stabilization of government debt achieved by means of spending cuts or tax increases. Discussions about the relative benefits and costs of austerity policies have been toxic, often taking a very ideological, harsh tone. The anti-austerity front argues that austerity is counterproductive: it results in increases—rather than reductions—in the debt-over-GDP ratio since it generates reductions in the denominator of this ratio which more than offset the gains in the numerator. The pro-austerity front emphasizes the impact of expectations and confidence on government debt. Imagine a situation in which an economy is on an unsustainable path with an exploding public debt. Sooner or later a fiscal stabilization has to occur. The longer this is postponed, the higher the taxes that will need to be raised or the spending to be cut in the future. When the stabilization occurs it removes the uncertainty about further delays which would increase the costs of stabilization.

Why did you write this book?

The contentious discussion on the effects of austerity has distracted commentators and policymakers from meaningful discussion on the enormous difference, on average, between expenditure-based and tax-based austerity plans. This book discusses the theory and the evidence needed to better assess the consequences of the different types of austerity. 

What are the differences in the impact of tax-based measures versus expenditure-based measures?

Spending-based austerity plans are remarkably less costly than tax-based plans. Spending-based plans have, on average, a close to zero effect on output and lead to a reduction of the debt over GDP ratio. Tax-based plans have the opposite effect: they cause large and long lasting recessions and do not lead to the stabilization of the debt to GDP ratio. Two recent examples are the consolidations carried out by Ireland and Spain in response to the Eurozone crisis. The Spanish correction, which featured a larger share of tax hikes, markedly slowed the real GDP growth and did not result in a decline in the debt ratio. Contrast that with Ireland, where the spending-based correction had little output costs and led to a sharp decline in debt.

How should we change our thinking about austerity in order to assess its effectiveness properly?

The empirical analysis of the macroeconomic effect of different types of austerity is crucial. To this end one should start from the data. The book documents in detail close to 200 austerity plans carried out in 16 OECD economies from the late 1970s to 2014. To reconstruct these plans we have consulted original documents (some produced by national authorities, and some produced by organizations such as the OECD, the IMF or the European Commission) concerning about 3,500 individual fiscal measures. The second step is the proper modelling of fiscal actions. When legislatures decide to launch a fiscal consolidation program, this rarely consists of isolated shifts in this or that tax, or in this or that spending item; instead, what is adopted is typically a multi-year plan with the objective of reducing the budget deficit by a certain amount every year. To the extent that expectations matter for the planning of consumers and investors, the multi-year nature of a fiscal adjustment, and the announcements that come with it, impact their economic effects. Third, the effect of different plans on the economy should be assessed. We document a sharp difference between adjustment plans based mostly on tax increases and plans based mostly on expenditure reductions. This finding suggests that there is no “austerity” as such: the effects of austerity policies are sharply different depending on the way they are implemented.

In assessing the empirical evidence we needed to overcome three major obstacles.

The first is the so-called “endogeneity” problem, or the interaction between fiscal policy and output growth. Suppose you observe a reduction in the government deficit and an economic boom. It would be highly questionable to conclude that policies that reduced deficits have generated growth, as it could easily be the other way around. We address the endogeneity problem by considering only policy changes not motivated by the state of the business cycle but rather by a desire to reduce deficits.  

Second, once exogenous fiscal adjustments episodes have been identified, then the calculation of their impact on the economy requires the specification of an empirical model. An important tradeoff emerges here: the simpler the model the easier to calculate the multipliers, but the more likely that important relations among variables are missed. We adopt several models in this book to assess the robustness of our empirical results. 

Third, major episodes of austerity often are accompanied by changes in other policies: monetary policy; exchange rate movements; labor market reforms; regulation or deregulation of various product markets; tax reforms; and so on. In addition, austerity is sometimes adopted at times of crisis due to runaway debts, not in periods of business as usual. We assess explicitly the role of accompanying policies in the determination of the impact of austerity to conclude that the heterogenous effects of tax-based and expenditure-based plans does not depend on different accompanying policies.

In cases where austerity has “gone wrong,” what accounted for that? What should have been done differently?

During 2010-11 the collapse of confidence in sovereign European debt and the explosion of interest rates on government bonds in some countries (Italy, Spain, Greece, Portugal) led to a situation that was close to a debt-induced financial crisis. Could the governments of these countries have waited, postponing austerity to when the recession was over? Hard to say. We do not know what would have happened without austerity. What we can say, however, is that even in these cases, namely when austerity policies are implemented during a recession, the differences between the two types of austerity is very relevant: tax-based austerity plans have been much more costly than spending-based plans.

Can you give an example of a government that had the right idea about austerity?

In the 1990s Canada implemented a successful package of large government cuts which, coupled with accommodating monetary policy and structural reforms, was expansionary. In the book we document how since the 1993 elections almost all the contending parties accepted the need for such a reduction in government debt and deficit. In 2010, the Coalition government led by David Cameron in the UK responded to unsustainable and growing deficits with a program of large budget cuts. After this correction, the UK economy grew at respectable rates compared to the other major economies and proved the IMF predictions of a major recession wrong. Finally, and maybe most interestingly, the Irish government in its December 2009 Stability Programme Update was clear in acknowledging the unsuccessful effects of tax-based austerity. This in turn justified the adoption of a package of significant expenditure cuts.

What do you hope readers will take away from this book?

Talking about “austerity” without defining how austerity is implemented does not make any sense. The composition of austerity plans is crucial to understanding their effects on growth and fiscal sustainability. The data on 16 OECD countries over the period 1978-2014 show that a spending reduction plan and tax-based plans of the same dimension have different effects on growth. Tax-based plans lead to deep and prolonged recessions, lasting several years. Expenditure-based plans on average exhaust their very mild recessionary effect within two years after a plan is introduced. The component of aggregate demand which mostly drives the heterogeneity between tax-based and expenditure-based austerity is private investment. The effects of fiscal plans on the debt to GDP ratio depend on the initial level of the debt. In the high-debt high-cost of debt scenario, an expenditure-based plan has a stabilizing effect on the debt dynamics while a tax-based plan has a destabilizing effect; in a low-debt low-cost scenario the expenditure-based adjustment remains stabilizing, while the effect of a tax-based plan becomes neutral. The main goal of our work is to explain the evidence and the theory which underlies these results. To this end we discuss the theory; we construct a new data set; we propose to analyze fiscal plans to take the empirical modelling of fiscal policy closer to the real-life process of its implementation; and we consider case-studies and econometric evidence. We also study the role of accompanying policies: devaluations, monetary policy and structural reforms in the goods and labor markets. We devote special attention to the recent round of austerity plans implemented after the financial and Eurozone crises. Finally, we ask the political economy question of whether austerity is the kiss of death for the governments that implement it, concluding that the answer is much less obvious than the popular debate would seem to suggest.

Alberto Alesina is the Nathaniel Ropes Professor of Political Economy at Harvard University. He is the author, with Francesco Giavazzi, of The Future of Europe: Reform or DeclineCarlo Favero is the Deutsche Bank Chair in Quantitative Finance and Asset Pricing at Bocconi University in Italy. He is the author of Applied MacroeconometricsFrancesco Giavazzi is professor of economics at Bocconi University.

Bird Fact Friday – Iceland Gull

Adapted from page 118-119 of Gulls Simplified:

An adult Iceland Gull has a round head; gentle expression; very pale silver-gray back; short pink legs; and a short, slender, bullet-shaped bill. Photo credit: Lloyd Spitalnik.

The Iceland Gull is a smallish, plumpish-bodied, round-headed, petite-billed, short-legged, uniformly pale gull nestled amid the collage of contrastingly patterned Herring Gulls clustered on the beach.

This medium-large, pleasingly proportioned gull is smaller, plumper breasted, and shorter legged than Herring Gull, and typically distinctly smaller and less bulky than the similarly plumaged Glaucous Gull, from which Iceland may be distinguished by its longer wings that extend well beyond the tail of standing birds (generally a bill length beyond the tail). In adult birds, primaries range from white or light gray to charcoal gray, and to black in Thayer’s Gull, a subspecies of Iceland Gull.

Iceland’s bill ranges from petite and bullet shaped to fairly long, with a decurved tip on larger birds. The bill is mostly dark on immature/1st winter birds, but some birds can show a pinkish to yellowish bill with an ill-defined black tip at this age. Immature Glaucous Gull’s larger bill is richer pink and has a more sharply demarcated dark tip compared to that of immature Iceland. A round head, short neck, and shortish legs
impart a plumpish, pigeon-like impression to many Iceland Gulls (an attribute never applied to the bulky, barrel-chested Glaucous Gull). In winter, the head of adult Iceland shows limited to no streaking, except for the Thayer’s subspecies, which can show a heavily streaked head and neck. In a mixed flock with Herring Gulls, Iceland’s (Kumlien’s) smaller size and plain, pale, uniform plumage stand out.

Thayer’s subspecies of Iceland Gull (thayeri) averages intermediate in size and structure between large Kumlien’s Iceland Gull and small Herring Gull, but its adult plumage is much closer to that of Herring Gull with respect to the gray shading of its upperparts and black wing tips. While many adult Thayer’s have dark eyes, some birds on the Pacific coast have pale to dusky eyes, so this field mark is not absolute. Rather than including extensive ID criteria for the Thayer’s subspecies here, we ask that you please refer to captions in the Thayer’s subspecies section of Iceland Gull at the end of this account for characteristics that distinguish it from Kumlien’s Iceland Gull and Herring Gull.

Gulls Simplified
A Comparative Approach to Identification
By Pete Dunne and Kevin Karlson

This unique photographic field guide to North America’s gulls provides a comparative approach to identification that concentrates on the size, structure, and basic plumage features of gulls—gone are the often-confusing array of plumage details found in traditional guides.

Featuring hundreds of color photos throughout, Gulls Simplified illustrates the variations of gull plumages for a variety of ages, giving readers strong visual reference points for each species. Extensive captions accompany the photos, which include comparative photo arrays, digitized photo arrays for each age group, and numerous images of each species—a wealth of visual information at your fingertips. This one-of-a-kind guide includes detailed species accounts and a distribution map for each gull.

An essential field companion for North American birders, Gulls Simplified reduces the confusion commonly associated with gull identification, offering a more user-friendly way of observing these marvelous birds.

  • Provides a simpler approach to gull identification
  • Features a wealth of color photos for easy comparison among species
  • Includes detailed captions that explain identification criteria and aging, with direct visual reinforcement above the captions
  • Combines plumage details with a focus on size, body shape, and structural features for easy identification in the field
  • Highlights important field marks and physical features for each gull

Calling Girls Who Love Math: Register for Girls’ Angle’s SUMIT 2019!

Get ready for a new mathematical adventure! SUMIT 2019 is coming April 6 and 7 with an all-new plot and math problems galore.

If you’re a 6th-11th grade girl who loves math, you’ll love SUMIT! There will be challenges for all levels and key leadership roles to fulfill. You’ll emerge with an even greater love of math, new friends, and lasting memories.

Princeton University Press has been a major sponsor of SUMIT since its inception in 2012, and is always proud to promote this magical escape-the-room-esque event where girls join forces to overcome challenges and become the heroines of an elaborate mathematical saga. The event offers one of the most memorable opportunities to do math while forming lasting friendships with like-minded peers. Together, girls build mathematical momentum and frequently surprise themselves with what they’re able to solve. All previous SUMITs have garnered overall ratings of 10 out of 10 by participants.

Created by Girls’ Angle, a nonprofit math club for girls, together with a team of college students, graduate students, and mathematicians, SUMIT 2019 takes place in Cambridge, MA.

Registration opens at 2 pm ET on Sunday, February 10 on a first-come-first-served basis and there are limited slots, so register quickly!

For more information, please visit http://girlsangle.org/page/SUMIT/SUMIT.html.

Cass Sunstein on On Freedom

SunsteinIn this pathbreaking book, New York Times bestselling author Cass Sunstein asks us to rethink freedom. He shows that freedom of choice isn’t nearly enough. To be free, we must also be able to navigate life. People often need something like a GPS device to help them get where they want to go—whether the issue involves health, money, jobs, children, or relationships. Accessible and lively, and drawing on perspectives from the humanities, religion, and the arts, as well as social science and the law, On Freedom explores a crucial dimension of the human condition that philosophers and economists have long missed—and shows what it would take to make freedom real.

How did you come to write this book?

The origin of the book might be foreign travel! When you don’t know how to get from one place to another, you feel lost, and in a way, in a kind of prison. It’s terrible. I realized recently that the problem is very general – a kind of metaphor. When people can’t navigate life, they are not free. All over the world, people can’t navigate life.

Can you give a summary of the main argument?

In short: we don’t focus nearly enough on how hard it is for people to get where they want to go. Freedom of choice is very important, but what if you don’t know how to find a doctor, a job, or job training? You might want to quit smoking or alcohol or opioids – but how? If there isn’t a good answer to that question, people are less free (and they might end up dead). Self-control problems are one of my central concerns. Take the case of an opioid addict. He wants to be free (a good word) of his addiction, but he needs some help in getting there. Or take people living under conditions of poverty. They might be free of mandates and bans. But how can they get what they need?

Can you provide a specific example of an individual having their freedom of choice hindered?

Suppose that your child is sick, and you are told that health care is available. Where do you go? What do you do? Or suppose that you have a serious legal problem. Maybe an employer has discriminated against you. You have freedom of choice. But how do you navigate the system? Or suppose that you suffer from depression or acute anxiety. What’s the solution? In particular: there is a lot of “sludge” out there – obstacles to navigability. Employers, governments, hospitals, schools, and more need to cut the sludge. It reduces freedom.

What are some practical solutions to the current limits on freedom of choice?

Give people a GPS device, or the equivalent, in many spheres of life. If, for example, people want to stop drinking, help them find a way out. Freedom-respecting nudges often make it a lot easier to navigate life, whether the goal is to be safe on the highways, to avoid unhealthy food, or to escape discrimination.

What do you hope readers will take away from reading your book?

A main goal is to get people to focus on the problem of navigability. It’s not a lovely word, but life is a lot lovelier when it is navigable. I hope also to spur some thinking about freedom and well-being – about what really matters in life. The tale of Adam and Eve makes several appearances, and its competing messages about the human condition – and what it means to fall – tell us a lot about what is to be human (There is also a fair bit about romance).

Cass R. Sunstein is the Robert Walmsley University Professor at Harvard Law School, where he is the founder and director of the Program on Behavioral Economics and Public Policy. From 2009 to 2012, he led the White House Office of Information and Regulatory Affairs. His many books include the New York Times bestsellers Nudge: Improving Decisions about Health, Wealth, and Happiness (with Richard H. Thaler) and The World According to Star Wars. The 2018 recipient of Norway’s Holberg Prize, he lives in Concord, Massachusetts. Twitter @CassSunstein