Understanding the Private–Public Divide Markets, Governments, and Time Horizons
By: Avner Offer – University of Oxford
Markets are taken as the norm in economics and in much of political and media discourse. But if markets are superior why does the public sector remain so large? Avner Offer provides a distinctive new account of the effective temporal limits on private, public, and social activity. Understanding the Private–Public Divide accounts for the division of labour between business and the public sector, how it changes over time, where the boundaries ought to run, and the harm that follows if they are violated. He explains how finance forces markets to focus on short-term objectives and why business requires special privileges in return for long-term commitment. He shows how a private sector policy bias leads to inequality, insecurity, and corruption. Integrity used to be the norm and it can be achieved again. Only governments can manage uncertainty in the long-term interests of society, as shown by the challenge of climate change.
A Brief History of Equality
By: Thomas Piketty – École des Hautes Études en Sciences Sociales (EHESS) and the Paris School of Economics
Piketty guides us with elegance and concision through the great movements that have made the modern world for better and worse: the growth of capitalism, revolutions, imperialism, slavery, wars, and the building of the welfare state. It’s a history of violence and social struggle, punctuated by regression and disaster. But through it all, Piketty shows, human societies have moved fitfully toward a more just distribution of income and assets, a reduction of racial and gender inequalities, and greater access to health care, education, and the rights of citizenship. Our rough march forward is political and ideological, an endless fight against injustice. To keep moving, Piketty argues, we need to learn and commit to what works, to institutional, legal, social, fiscal, and educational systems that can make equality a lasting reality. At the same time, we need to resist historical amnesia and the temptations of cultural separatism and intellectual compartmentalization.
A Brief History of Equality is a route into Piketty’s arguments in his earlier books, with their luxuriantly extensive data and historical detail. Anybody who has not been able to face those tomes…should read this one.
Diane Coyle, University of Cambridge
Limits of the Numerical The Abuses and Uses of Quantification
By: Christopher Newfield, Anna Alexandrova, Stephen John – Independent Social Research Foundation, London, University of Cambridge
Numbers are both controlling and fragile. They drive public policy, figuring into everything from college rankings to vaccine efficacy rates. At the same time, they are frequent objects of obfuscation, manipulation, or outright denial. This timely collection by a diverse group of humanists and social scientists challenges undue reverence or skepticism toward quantification and offers new ideas about how to harmonize quantitative with qualitative forms of knowledge. Limits of the Numerical focuses on quantification in several contexts: climate change; university teaching and research; and health, medicine, and well-being more broadly. This volume shows the many ways that qualitative and quantitative approaches can productively interact—how the limits of the numerical can be overcome through equitable partnerships with historical, institutional, and philosophical analysis.
Gender and the Dismal Science Women in the Early Years of the Economics Profession
By: Ann Mari May – University of Nebraska–Lincoln
Gender and the Dismal Science is a groundbreaking account of the role of women during the formative years of American economics, from the late nineteenth century into the postwar period. Blending rich historical detail with extensive empirical data, Ann Mari May examines the structural and institutional factors that excluded women, from graduate education to academic publishing to university hiring practices. Drawing on material from the archives of the American Economic Association along with novel data sets, she details the vicissitudes of women in economics, including their success in writing monographs and placing journal articles, their limitations in obtaining academic positions, their marginalization in professional associations, and other hurdles that the professionalization of the discipline placed in their path. May emphasizes the formation of a hierarchical culture of status seeking that stymied women’s participation and shaped what counts as knowledge in the field to the advantage of men. Revealing the historical roots of the homogeneity of economics, this book sheds new light on why biases against women persist today.
