Colin Woodart – The republic of pirates
Captivating narrative which juicy details on naval warfare practices and life on board.
Poverty is not just characterized by lack of money, but also by unpredictability of cash flow and risk exposure
Daryl Collins – Portfolios of the poor
Thorough application of small data that provides valuable insight in how people live on less than 2$ a day – and what that implies for microfinance.
Over the past decades, most economists have been forced to flex their opinion on the efficient market hypothesis
Justin Fox – The myth of the rational market
The book resists the temptation to get lost in juicy stories, but focuses on the evolution of ideas.
Don’t estimate probabilities, but ask: ‘What is really going on here?’
John Kay and Mervin King – Radical Uncertainty
Economists should stay away from pseudo-philosophical assertions, in particular when these hinge on misinterpretation of Bayesian methods, use flawed logic, and do not lead to realistic recommendations.
Because we fundamentally believe resources can and will be redistributed, we will fall into the trap of always trying to make the overall pie as big as possible
Abhijit V. Banerjee and Esther Duflo – Good economics for hard times
Smart agent-based modelling perspective on global challenges around poverty and sustainability.
Without massive and violent disruption of the established order, there will be no meaningful redistribution of wealth
The great leveler – Walter Scheidel
Next to revolution (in the spirit of Marx), the book claims there are just three other forces strong enough to achieve leveling: mass warfare, epidemics, and system collapse (the last of which is arguably overlaps with the others).
Increasing inequality and lack of immigration are the two big crises facing the US
the set-up in which interesting historical facts serve to make a political argument makes the author prone to the narrative fallacy.
The rise of hard discounters has made grocers and CPG companies adjust their strategies
Jan-Benedict Steenkamp and Laurens Sloot – Retail disruptors
Generally solid overview of retail business economics using hard discounter in grocery as case examples, but the authors could not risist the urge to make overly general assertions.
Economically speaking, AI makes prediction a commodity – and nothing more
Ajay Argawal, Joshua Gans, Avi Goldfarb – Prediction machines
The authors see AI as just a new option for the division of labor which, although it can have rather dramatic consequences, does not support apocalyptic GAI fearmongering.
The safe space for humanity is in between the social foundation and the ecological ceiling
Kate Raworth – the doughnut economy
The idea of challenging the implicit assumptions of traditional economics is not new, yet the emphasis on framing the debate is valuable.
Debt has its origin in inequality, suppression, and war
At first the polemic style is charming, but over-all the writer’s objective to crush the system by his brain power is poorly executed and overlooks too many credible alternative lines of argument.
Risk is an important disincentive, needed to keep economical systems healthy
Skin in the game – Nassim Nicholas Taleb
Written in Taleb’s highly entertaining style, at times overly cocky but with more than enough wisdom to make up for it.
Markets are not efficient, but shaped by the evolution of actors such as hedge funds and electronic traders
Elegant mix of historic analysis of market dynamics and experiments with natural selection in non-biological context.