Want to know what books Robert J Shiller recommends on their reading list? We've researched interviews, social media posts, podcasts, and articles to build a comprehensive list of Robert J Shiller's favorite book recommendations of all time.
We all know that the very rich have gotten a lot richer these past few decades while most Americans haven’t. In fact, the exorbitantly paid have continued to thrive during the current economic crisis, even as the rest of Americans have continued to fall behind. Why do the “haveit- alls” have so much more? And how have they managed to restructure the economy to reap the... more
We all know that the very rich have gotten a lot richer these past few decades while most Americans haven’t. In fact, the exorbitantly paid have continued to thrive during the current economic crisis, even as the rest of Americans have continued to fall behind. Why do the “haveit- alls” have so much more? And how have they managed to restructure the economy to reap the lion’s share of the gains and shift the costs of their new economic playground downward, tearing new holes in the safety net and saddling all of us with increased debt and risk? Lots of so-called experts claim to have solved this great mystery, but no one has really gotten to the bottom of it—until now.
In their lively and provocative Winner-Take-All Politics, renowned political scientists Jacob S. Hacker and Paul Pierson demonstrate convincingly that the usual suspects—foreign trade and financial globalization, technological changes in the workplace, increased education at the top—are largely innocent of the charges against them. Instead, they indict an unlikely suspect and take us on an entertaining tour of the mountain of evidence against the culprit. The guilty party is American politics. Runaway inequality and the present economic crisis reflect what government has done to aid the rich and what it has not done to safeguard the interests of the middle class. The winner-take-all economy is primarily a result of winner-take-all politics.
In an innovative historical departure, Hacker and Pierson trace the rise of the winner-take-all economy back to the late 1970s when, under a Democratic president and a Democratic Congress, a major transformation of American politics occurred. With big business and conservative ideologues organizing themselves to undo the regulations and progressive tax policies that had helped ensure a fair distribution of economic rewards, deregulation got under way, taxes were cut for the wealthiest, and business decisively defeated labor in Washington. And this transformation continued under Reagan and the Bushes as well as under Clinton, with both parties catering to the interests of those at the very top. Hacker and Pierson’s gripping narration of the epic battles waged during President Obama’s first two years in office reveals an unpleasant but catalyzing truth: winner-take-all politics, while under challenge, is still very much with us.
Winner-Take-All Politics—part revelatory history, part political analysis, part intellectual journey— shows how a political system that traditionally has been responsive to the interests of the middle class has been hijacked by the superrich. In doing so, it not only changes how we think about American politics, but also points the way to rebuilding a democracy that serves the interests of the many rather than just those of the wealthy few. less
Matthew YglesiasIt’s had a huge impact among people who are inclined to read and talk about books. I’m not sure how far that goes in Washington. Unfortunately, one of the problems with becoming a powerful politician is that you don’t really have time to read anything. But its importance is definitely not just an idiosyncratic inclination of mine. Everyone has been reading it. Everyone has been writing and... (Source)
Robert J ShillerThis book is about rising inequality and it traces back to fundamental causes. I like books that get back to ultimate causes and that think like social scientists about these causes. The question is, ‘Why is inequality getting worse in so many different countries?’ This book particularly focuses on the US. There are a number of traditional answers, but the most prominent among them is this idea... (Source)
Featuring a new afterword by Jeremy Adelman and a foreword by Amartya Sen, this Princeton Classics edition of The Passions and the Interests sheds light on the intricate ideological transformation from which capitalism emerged triumphant, and reaffirms Hirschman's stature as one of our most influential and provocative thinkers. less
Rajan shows how the individual choices that collectively brought about the economic meltdown--made by bankers, government officials, and... more
Rajan shows how the individual choices that collectively brought about the economic meltdown--made by bankers, government officials, and ordinary homeowners--were rational responses to a flawed global financial order in which the incentives to take on risk are incredibly out of step with the dangers those risks pose. He traces the deepening fault lines in a world overly dependent on the indebted American consumer to power global economic growth and stave off global downturns. He exposes a system where America's growing inequality and thin social safety net create tremendous political pressure to encourage easy credit and keep job creation robust, no matter what the consequences to the economy's long-term health; and where the U.S. financial sector, with its skewed incentives, is the critical but unstable link between an overstimulated America and an underconsuming world.
In "Fault Lines," Rajan demonstrates how unequal access to education and health care in the United States puts us all in deeper financial peril, even as the economic choices of countries like Germany, Japan, and China place an undue burden on America to get its policies right. He outlines the hard choices we need to make to ensure a more stable world economy and restore lasting prosperity. less
Barack ObamaObama, unsurprisingly, appears to be more drawn to stories sympathetic to the working classes than is McCain. Obama cites John Steinbeck’s “In Dubious Battle,” about a labor dispute; Robert Caro’s “Power Broker,” about Robert Moses; and Studs Terkel’s “Working.” But he also includes Adam Smith’s “Wealth of Nations” and “Theory of Moral Sentiments” on his list. (Source)
Ryan HolidayI was heartily recommend this book by Dr. Drew and since the last book he recommended changed my life as a young man, I did not hesitate to get it. Now this is a tough book, a really tough book, but it is amazing. People think of Adam Smith as being this ruthless economist who studied self-interest but this forgotten book reveals that he was in fact, a great moral and practical philosopher. It is... (Source)
Thaler and Sunstein invite us to enter an alternative world, one that takes our... more
Thaler and Sunstein invite us to enter an alternative world, one that takes our humanness as a given. They show that by knowing how people think, we can design choice environments that make it easier for people to choose what is best for themselves, their families, and their society. Using colorful examples from the most important aspects of life, Thaler and Sunstein demonstrate how thoughtful “choice architecture” can be established to nudge us in beneficial directions without restricting freedom of choice. Nudge offers a unique new take—from neither the left nor the right—on many hot-button issues, for individuals and governments alike. This is one of the most engaging and provocative books to come along in many years. less
Dan ArielyNudge is a very important book. One of the reasons Nudge is so important is because it’s taking these ideas and applying them to the policy domain. Here are the mistakes we make. Here are the ways marketers are trying to influence us. Here’s the way we might be able to fight back. If policymakers understood these principles, what could they do? The other important thing about the book is that it... (Source)
Ryan HolidayThis might feel like a weird book to include, but I think it presents another side of strategy that is too often forgotten. It’s not always about bold actors and strategic thrusts. Sometimes strategy is about subtle influence. Sometimes it is framing and small tweaks that change behavior. We can have big aims, but get there with little moves. This book has excellent examples of that kind of... (Source)
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