front cover of The ABCs of Political Economy
The ABCs of Political Economy
A Modern Approach
Robin Hahnel
Pluto Press, 2014
In the wake of the economic disasters of the past decade, perhaps we could all use a refresher course in economics to help us understand. The ABCs of Political Economy provides a lively and accessible introduction to modern political economy. In this compelling book, informed by the work of such eminent economic philosophers as Karl Marx, Thorstein Veblen, Michal Kalecki, Joan Robinson, and Hyman Minksy, Robin Hahnel provides the essential tools to comprehend today’s economic crises.
            Hahnel explains the origins of the financial crisis of 2008, the ensuing “Great Recession,” and why government policies in Europe and North America over the past six years have failed to improve matters for the majority of their citizens. It also helps explain the economic causes of climate change and what will be required if it is to be resolved effectively and fairly. The ABCs of Political Economy is perfect for anyone who wants to equip themselves with the ability to grasp as well as challenge existing preconceptions of political economy.
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African Miracle, African Mirage
Transnational Politics and the Paradox of Modernization in Ivory Coast
Abou B. Bamba
Ohio University Press, 2016

Throughout the 1960s and 1970s, Ivory Coast was touted as an African miracle, a poster child for modernization and the ways that Western aid and multinational corporations would develop the continent. At the same time, Marxist scholars—most notably Samir Amin—described the capitalist activity in Ivory Coast as empty, unsustainable, and incapable of bringing real change to the lives of ordinary people. To some extent, Amin’s criticisms were validated when, in the 1980s, the Ivorian economy collapsed.

In African Miracle, African Mirage, Abou B. Bamba incorporates economics, political science, and history to craft a bold, transnational study of the development practices and intersecting colonial cultures that continue to shape Ivory Coast today. He considers French, American, and Ivorian development discourses in examining the roles of hydroelectric projects and the sugar, coffee, and cocoa industries in the country’s boom and bust. In so doing, he brings the agency of Ivorians themselves to the fore in a way not often seen in histories of development. Ultimately, he concludes that the “maldevelopment” evident by the mid-1970s had less to do with the Ivory Coast’s “insufficiently modern” citizens than with the conflicting missions of French and American interests within the context of an ever-globalizing world.

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After Piketty
The Agenda for Economics and Inequality
Heather Boushey
Harvard University Press, 2017

A Foreign Affairs Best Book of the Year

“An intellectual excursion of a kind rarely offered by modern economics.”
Foreign Affairs

Thomas Piketty’s Capital in the Twenty-First Century is the most widely discussed work of economics in recent years. But are its analyses of inequality and economic growth on target? Where should researchers go from there in exploring the ideas Piketty pushed to the forefront of global conversation? A cast of leading economists and other social scientists—including Emmanuel Saez, Branko Milanovic, Laura Tyson, and Michael Spence—tackle these questions in dialogue with Piketty.

“A fantastic introduction to Piketty’s main argument in Capital, and to some of the main criticisms, including doubt that his key equation…showing that returns on capital grow faster than the economy—will hold true in the long run.”
Nature

“Piketty’s work…laid bare just how ill-equipped our existing frameworks are for understanding, predicting, and changing inequality. This extraordinary collection shows that our most nimble social scientists are responding to the challenge.”
—Justin Wolfers, University of Michigan

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Aging and Old Age
Richard A. Posner
University of Chicago Press, 1995
Are the elderly posing a threat to America's political system with their enormous clout? Are they stretching resources to the breaking point with their growing demands for care? Distinguished economist and legal scholar Richard A. Posner explodes the myth that the United States could be on the brink of gerontological disaster.

Aging and Old Age offers fresh insight into a wide range of social and political issues relating to the elderly, such as health care, crime, social security, and discrimination. From the dread of death to the inordinate law-abidingness of the old, from their loquacity to their penny-pinching, Posner paints a surprisingly rich, revealing, and unsentimental portrait of the millions of elderly people in the United States. He explores issues such as age discrimination in employment, creativity and leadership as functions of age, and the changing social status of the elderly. Why are old people, presumably with less to lose, more unwilling to take risks than young people? Why don't the elderly in the United States command the respect and affection they once did and still do in other countries? How does aging affect driving and criminal records? And how does aging relate to creativity across different careers?
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front cover of Agriculture and the State in Soviet and Post-Soviet Russia
Agriculture and the State in Soviet and Post-Soviet Russia
Stephen Wegren
University of Pittsburgh Press, 1998
A comprehensive, original, and innovative analysis of the social, economic, and political factors affecting contemporary Russian reform, the book is organized around the central question of the role of the state and its effect on the course of Russian agrarian reform.  In the wake of the collapse of the USSR, contemporary conventional wisdom holds the the Russian state is “weak.”  Stephen Wegren feels that the traditional approach to the weak/strong state suffers from measurement and circular logic problems, believing that the Russian state, thought weaker than in its Soviet past, is still relatively stronger than other actors.  The state’s strength allows it to intervene in the rural sector in ways that other power contender cannot.

Specifically, as a measure of state intervention, Wegren analyzes how the state has influenced urban-rural relations, rural-rural relations, and the nonstate (private) agricultural sector.  Several dilemmas arose that have complicated successful agrarian reform as a result of the nature of state interventions, how reform policies were defined, and the incentives rhar arose from state-sponsored policies.  During contemporary Russian agrarian reform, urban-rural differences have widened, marked by a deterioration in rural standards of living and increased alienation of rural political groups from urban alliances.  At the same time, within the rural sector, reform failed to reverse rural egalitarianism.  In addition, the nature of state interventions has undermined attempts to create a vibrant, productive private rural sector based on private farming.

Wegren’s research is based upon extensive field work, interviews, archival documents, and published and unpublished source material conducted over a six-year period, and he demonstrates the link between agrarian reform and the success of overall reform in Russia.  This learned and often controversial volume will interest political scientists, policy makers, and scholars and students of contemporary Russia.
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Allies of the State
China's Private Entrepreneurs and Democratic Change
Jie Chen and Bruce J. Dickson
Harvard University Press, 2010
Jie Chen and Bruce J. Dickson draw on extensive fieldwork as they explore the extent to which China’s private sector supports democracy, surveying more than 2,000 entrepreneurs in five coastal provinces with over 70 percent of China’s private enterprises.The authors examine who the private entrepreneurs are, how the party-state shapes this group, and what their relationship to the state is. China’s entrepreneurs are closely tied to the state through political and financial relationships, and these ties shape their views toward democracy. While most entrepreneurs favor multi-candidate elections under the current one-party system, they do not support a system characterized by multi-party competition and political liberties, including the right to demonstrate. The key to regime support lies in the capitalists’ political beliefs and their assessment of the government’s policy performance. China’s capitalists tend to be conservative and status-quo oriented, not likely to serve as agents of democratization.This is a valuable contribution not only to the debates over the prospects for democracy in China but also to understanding the process of democratization around the globe.
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The American Dream Is Not Dead
(But Populism Could Kill It)
Michael R. Strain
Templeton Press, 2020

Populists on both sides of the political aisle routinely announce that the American Dream is dead. According to them, the game has been rigged by elites, workers can’t get ahead, wages have been stagnant for decades, and the middle class is dying. 

Michael R. Strain, director of economic policy studies at the American Enterprise Institute, disputes this rhetoric as wrong and dangerous. In this succinctly argued volume, he shows that, on measures of economic opportunity and quality of life, there has never been a better time to be alive in America. He backs his argument with overwhelming—and underreported—data to show how the facts favor realistic optimism.

He warns, however, that the false prophets of populism pose a serious danger to our current and future prosperity. Their policies would leave workers worse off. And their erroneous claim that the American Dream is dead could discourage people from taking advantage of real opportunities to better their lives. If enough people start to believe the Dream is dead, they could, in effect, kill it. To prevent this self-fulfilling prophecy, Strain’s book is urgent reading for anyone feeling the pull of the populists. 

E. J. Dionne and Henry Olsen provide spirited responses to Strain’s argument.

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American Oligarchy
The Permanent Political Class
Ron Formisano
University of Illinois Press, 2017
A permanent political class has emerged on a scale unprecedented in our nation 's history. Its self-dealing, nepotism, and corruption contribute to rising inequality. Its reach extends from the governing elite throughout nongovernmental institutions. Aside from constituting an oligarchy of prestige and power, it enables the creation of an aristocracy of massive inherited wealth that is accumulating immense political power. In a muckraking tour de force reminiscent of Lincoln Steffens, Upton Sinclair, and C. Wright Mills, American Oligarchy demonstrates the way the corrupt culture of the permanent political class extends down to the state and local level. Ron Formisano breaks down the ways this class creates economic inequality and how its own endemic corruption infects our entire society. Formisano delves into the work of not just politicians but lobbyists, consultants, appointed bureaucrats, pollsters, celebrity journalists, behind-the-scenes billionaires, and others. Their shameless pursuit of wealth and self-aggrandizement, often at taxpayer expense, rewards channeling the flow of income and wealth to elites. That inequality in turn has choked off social mobility and made a joke of meritocracy. As Formisano shows, these forces respond to the oligarchy 's power and compete to bask in the presence of the .01 percent. They also exacerbate the dangerous instability of an American democracy divided between extreme wealth and extreme poverty.
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American Railroads
Decline and Renaissance in the Twentieth Century
Robert E. Gallamore and John R. Meyer
Harvard University Press, 2014

Once an icon of American industry, railroads fell into a long decline beginning around the turn of the twentieth century. Overburdened with regulation and often displaced by barge traffic on government-maintained waterways, trucking on interstate highways, and jet aviation, railroads measured their misfortune in lost market share, abandoned track, bankruptcies, and unemployment. Today, however, as Robert Gallamore and John Meyer demonstrate, rail transportation is reviving, rescued by new sources of traffic and advanced technology, as well as less onerous bureaucracy.

In 1970, Congress responded to the industry's plight by consolidating most passenger rail service nationwide into Amtrak. But private-sector freight service was left to succeed or fail on its own. The renaissance in freight traffic began in 1980 with the Staggers Rail Act, which allowed railroad companies to contract with customers for services and granted freedom to set most rates based on market supply and demand. Railroads found new business hauling low-sulfur coal and grain long distances in redesigned freight cars, while double-stacked container cars moved a growing volume of both international and domestic goods. Today, trains have smaller crews, operate over better track, and are longer and heavier than ever before.

Near the end of the twentieth century, after several difficult but important mergers, privately owned railroads increased their investments in safe, energy-efficient, environmentally friendly freight transportation. American Railroads tells a riveting story about how this crucial U.S. industry managed to turn itself around.

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The Antitrust Paradigm
Restoring a Competitive Economy
Jonathan B. Baker
Harvard University Press, 2019

A new and urgently needed guide to making the American economy more competitive at a time when tech giants have amassed vast market power.

The U.S. economy is growing less competitive. Large businesses increasingly profit by taking advantage of their customers and suppliers. These firms can also use sophisticated pricing algorithms and customer data to secure substantial and persistent advantages over smaller players. In our new Gilded Age, the likes of Google and Amazon fill the roles of Standard Oil and U.S. Steel.

Jonathan Baker shows how business practices harming competition manage to go unchecked. The law has fallen behind technology, but that is not the only problem. Inspired by Robert Bork, Richard Posner, and the “Chicago school,” the Supreme Court has, since the Reagan years, steadily eroded the protections of antitrust. The Antitrust Paradigm demonstrates that Chicago-style reforms intended to unleash competitive enterprise have instead inflated market power, harming the welfare of workers and consumers, squelching innovation, and reducing overall economic growth. Baker identifies the errors in economic arguments for staying the course and advocates for a middle path between laissez-faire and forced deconcentration: the revival of pro-competitive economic regulation, of which antitrust has long been the backbone.

Drawing on the latest in empirical and theoretical economics to defend the benefits of antitrust, Baker shows how enforcement and jurisprudence can be updated for the high-tech economy. His prescription is straightforward. The sooner courts and the antitrust enforcement agencies stop listening to the Chicago school and start paying attention to modern economics, the sooner Americans will reap the benefits of competition.

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front cover of Apollo's Fire
Apollo's Fire
Igniting America's Clean Energy Economy
Jay Inslee and Bracken Hendricks
Island Press, 2009
In 1961, President John F. Kennedy ignited America’s Apollo Project and sparked a revolution in space exploration. Today the New Apollo Energy Project is poised to revolutionize the production of energy and thereby save our planet. The nation that built the world’s most powerful rockets, its most advanced computers, and its most sophisticated life support systems is ready to create the world’s most powerful solar energy systems, its most advanced wind energy turbines, and its most sophisticated hybrid cars. This will result in nothing less than a second American Revolution. Who are the dreamers in California who believe they can use mirrors and liquid metal to wring more electricity from a ray of sunshine than anyone else on earth can?
 
Who are the innovators who have built a contraption that can turn the energy of a simple wave off the Oregon coast into burnt toast in Idaho? Who are the scientists in Massachusetts who have invented a battery that now runs your hand drill and will soon run your car? Readers will meet them all in this book. They will learn how the new energy economy will grow, the research that is required, and the legislation that must be passed to make the vision a reality.
 
This is a thoughtful, optimistic book, based on sound facts. No one before has tied together the concepts of economic growth and greenhouse gas reductions with such concrete examples. No one has previously told the real stories of the people who are right now on the front lines of the energy revolution. The co-authors, one a U.S. Congressman who is the primary sponsor of the New Apollo Energy Act, and the other the founder of the Apollo Alliance, have joined their experience, expertise, and passion for a clean energy future to lay out the path to stop global warming and gain energy independence.
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front cover of Apollo's Fire
Apollo's Fire
Igniting America's Clean Energy Economy
Jay Inslee and Bracken Hendricks
Island Press, 2008
In 1961, President John F. Kennedy ignited America’s Apollo Project and sparked a revolution in space exploration. Today the New Apollo Energy Project is poised to revolutionize the production of energy and thereby save our planet. The nation that built the world’s most powerful rockets, its most advanced computers, and its most sophisticated life support systems is ready to create the world’s most powerful solar energy systems, its most advanced wind energy turbines, and its most sophisticated hybrid cars. This will result in nothing less than a second American Revolution. Who are the dreamers in California who believe they can use mirrors and liquid metal to wring more electricity from a ray of sunshine than anyone else on earth can?
 
Who are the innovators who have built a contraption that can turn the energy of a simple wave off the Oregon coast into burnt toast in Idaho? Who are the scientists in Massachusetts who have invented a battery that now runs your hand drill and will soon run your car? Readers will meet them all in this book. They will learn how the new energy economy will grow, the research that is required, and the legislation that must be passed to make the vision a reality.
 
This is a thoughtful, optimistic book, based on sound facts. No one before has tied together the concepts of economic growth and greenhouse gas reductions with such concrete examples. No one has previously told the real stories of the people who are right now on the front lines of the energy revolution. The co-authors, one a U.S. Congressman who is the primary sponsor of the New Apollo Energy Act, and the other the founder of the Apollo Alliance, have joined their experience, expertise, and passion for a clean energy future to lay out the path to stop global warming and gain energy independence.
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Austerity Ireland
The Failure of Irish Capitalism
Kieran Allen and Brian O'Boyle
Pluto Press, 2013
Ireland has been marketed as the poster boy of EU austerity. EU elites and neoliberal commentators claim that the country’s ability to suffer economic pain will attract investors and generate a recovery.

In Austerity Ireland, Kieran Allen challenges this official image and argues that the Irish state's response to the crash has primarily been designed to protect economic privilege. The resulting austerity has been a failure and is likely to produce a decade of hardship.

The book offers a deeply informed and penetrating diagnosis of Ireland's current socio-economic and political malaise, suggesting that a political earthquake is underway which may benefit the left. Austerity Ireland is essential reading for all students of Irish politics and economics, as well as those interested in the politics of austerity and the eurozone crisis.
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