Making a Modern Central Bank – The Bank of England 1979–2003
By: Harold James – Princeton University
Making a Modern Central Bank examines a revolution in monetary and economic policy. This authoritative guide explores how the Bank of England shifted its traditional mechanisms to accommodate a newly internationalized financial and economic system. The Bank’s transformation into a modern inflation-targeting independent central bank allowed it to focus on a precisely defined task of monetary management, ensuring price stability. The reframing of the task of central banks, however, left them increasingly vulnerable to financial crisis. James vividly outlines and discusses significant historical developments in UK monetary policy, and his knowledge of modern European history adds rich context to archival research on the Bank of England’s internal documents.
Calling Bullshit – The art of skepticism in a data-driven world
By: Carl T. Bergstrom, Jevin West – University of Washington
Misinformation, disinformation, and fake news abound and it’s increasingly difficult to know what’s true. Our media environment has become hyperpartisan. Science is conducted by press release. Startup culture elevates bullshit to high art. We are fairly well equipped to spot the sort of old-school bullshit that is based in fancy rhetoric and weasel words, but most of us don’t feel qualified to challenge the avalanche of new-school bullshit presented in the language of math, science, or statistics. In Calling Bullshit, Professors Carl Bergstrom and Jevin West give us a set of powerful tools to cut through the most intimidating data.
Each of us now swims through deception so pervasive that we no longer realize it’s there. Calling Bullshit presents a master class in how to spot it, how to resist it, and how to keep it from succeeding.
Paul Romer, New York University
The Great Demographic Reversal – Ageing Societies, Waning Inequality, and an Inflation Revival
By: Charles Goodhart, Manoj Pradhan: – London School of Economics, Talking Heads Macro
This original and panoramic book proposes that the underlying forces of demography and globalisation will shortly reverse three multi-decade global trends – it will raise inflation and interest rates, but lead to a pullback in inequality. “Whatever the future holds”, the authors argue, “it will be nothing like the past”. Deflationary headwinds over the last three decades have been primarily due to an enormous surge in the world’s available labour supply, owing to very favourable demographic trends and the entry of China and Eastern Europe into the world’s trading system. This book demonstrates how these demographic trends are on the point of reversing sharply, coinciding with a retreat from globalisation. The result? Ageing can be expected to raise inflation and interest rates, bringing a slew of problems for an over-indebted world economy, but is also anticipated to increase the share of labour, so that inequality falls. Covering many social and political factors, as well as those that are more purely macroeconomic, the authors address topics including ageing, dementia, inequality, populism, retirement and debt finance, among others.
Global Energy Fundamentals – Economics, Politics, and Technology
By: Simone Tagliapietra – Università Cattolica del Sacro Cuore
This book provides a rigorous, concise guide to the current status and future prospects of the global energy system. As we move away from fossil fuels and toward clean energy solutions, the complexity of the global energy system has increased. Tagliapietra cuts through this complexity with a multidisciplinary perspective of the system, which encompasses economics, geopolitics, and basic technology. He goes on to explore the main components of the global energy system – oil, natural gas, coal, nuclear energy, bioenergy, hydropower, geothermal energy, wind energy, solar energy, marine energy – as well as energy consumption and energy efficiency. It then provides an in-depth analysis of the pivotal issues of climate change and of energy access in Africa.
A timely description of diverse sources of energy supply around the world, with supplementary material on energy demand, climate change, and energy-access issues in Africa.
Robert N. Stavins, Harvard University
