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Advanced economies around the world suffer from the general problem of not being able to build (on time, low cost, or to quality standards). Why nothing works: Who Killed Progress and How to Get It Back (PublicAffairs £28/$32.50) Brown University Fellow Marc J Dunkelman offers a keen analysis of how the world’s largest economy, the United States, faces chronic infrastructure problems and housing shortages.
Dunkelman’s paper shows that progressive movements have become obsessed with efforts to place guardrails around politicians and businesses over time.
However, he argues that this has resulted in unintended consequences by crippling public institutions, tying them with red tape and strengthening “ninbism.” This has paralyzed the government’s ability to accomplish fundamental things, such as planning and implementing affordable housing and clean energy infrastructure projects.
The book is based on US experience, but its assessment applies equally to Europe. In Europe, authorities are slowly embracing deregulation and simplification initiatives. Of course, there are several factors that go beyond the bureaucratic hurdles as to why we develop physical spaces in the US and beyond. But Dunkelman’s exploration of the political side is timely, given his overly impulsive approach to recent past regulations, and today’s backlash against it.
This is an insightful and interesting view of discourse that can bind public institutions and can lead to distrust in democratic institutions.
Growth reward: How to fix the economy – Volume 2 (byte-back £25) Jon Moynihan offers a keen research into what the UK has to do to increase the shiny speed of economic growth. A venture capitalist and conservative life companion, Moynihan identifies three important “angels” to bring prosperity. Free markets, free trade, healthy money.
Based on his detailed first volume, the author and his team of researchers provide a thorough and graphically enhanced exploration of the business environment, trade and economic policy strategies that the UK should pursue to succeed.
This analysis provides a refreshing reminder of the power of free markets when state interventionism is rising and free trade is under attack all over the world. You don’t have to agree to all of Moynihan’s stances to make this a valuable read. Certainly, in the crowded field that seeks to diagnose economic illness in the UK, the author’s series is closest to actually providing the answer by row of levers that the government must pull, providing costs to cut, as well as regulations that will keep the country down.
Historian and sociologist Rayner Zitelmann’s Origins of Poverty and Wealth (Management Book 2000 £29.95) is an insightful travelogue of the libertarian movements around the world. From Bogota to Uran Beiter, the authors express advances in economic and political liberalization across four continents, using a series of historical research, research and discussions with experts and ordinary people to provide insight into each destination.
This is an attractive reading that leads to economic theory, cultural and earthly development, and gives readers a deeper understanding of the factors of poverty and wealth.
Why We Are Poor: Realist’s Guide to the Economy and How to Fix It (William Collins£22) LSE Fellow Cahal Moran has a much more cynical view of modern capitalism. Moran argues that the market economy is full of inefficiencies that limit the benefits of society’s vast range from monopolies, excessive fiscal financing and negative externalities. Many of the complaints the author raises are well-trampled criticism of capitalism, and the solutions offered may sometimes feel idealistic, as they seek a fundamental reassessment of the way we organize our economy.
Still, Moran’s iconic take deserves praise for explaining abstract economic theories and jargon, from the German football league to the TV comedy Betweers. This makes it a useful read for those new to some flaws blindly following traditional economic theories, and for those new to what can lead to serious issues from inequality and climate change.
Real Economy: History and Theory (Princeton £35/$39.95) Jonathan Levy employs a valuable bottom-up approach to explain the evolution of economic thought. Historians’ argument is that today’s economists are so shaken up in theory and method that they cannot clarify how households, businesses and states interact.
The essay covers topics that involve the emergence of capitalism in radical uncertainty, and revives ideas from the past that can professionally bridge history and economics and improve our understanding of today’s economy.
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