In Big Business, Cowen puts forth an impassioned defense of corporations and their essential role in a balanced, productive, and progressive society. He dismantles common misconceptions and untangles conflicting intuitions. According to a 2016 Gallup survey, only 12 percent of Americans trust big business “quite a lot,” and only 6 percent trust it “a great deal.” Yet Americans as a group are remarkably willing to trust businesses, whether in the form of buying a new phone on the day of its release or simply showing up to work in the expectation they will be paid. Cowen illuminates the crucial role businesses play in spurring innovation, rewarding talent and hard work, and creating the bounty on which we’ve all come to depend.
Like no other economist, Tyler Cowen shows how economic notions—such as incentives, signals, and markets—apply far more widely than merely to the decisions of social planners, governments, and big business. What does economic theory say about ordering from a menu? Or attracting the right mate? Or controlling people who talk too much in meetings? Or dealing with your dentist? With a wryly amusing voice, in chapters such as “How to Control the World, The Basics” and “How to Control the World, Knowing When to Stop” Cowen reveals the hidden economic patterns behind everyday situations so you can get more of what you really want.
Readers will also gain less selfish insights into how to be a good partner, neighbor and even citizen of the world. For instance, what is the best way to give to charity? The chapter title “How to Save the World—More Christmas Presents Won’t Help” makes a point that is every bit as personal as it is global.
Incentives are at the core of an economic approach to the world, but they don’t just come in cash. In fact, money can be a disincentive. Cowen shows why, for example, it doesn’t work to pay your kids to do the dishes. Other kinds of incentives—like making sure family members know they will be admired if they respect you—can work. Another non-monetary incentive? Try having everyone stand up in your next meeting if you don’t want anyone to drone on. Deeply felt incentives like pride in one’s work or a passing smile from a loved one, can be the most powerful of all, even while they operate alongside more mundane rewards such as money and free food.
Discover Your Inner Economist is an introduction to the science of economics that shows it to be built on notions that are already within all of us. While the implications of those ideas lead to Cowen’s often counterintuitive advice, their wisdom is presented in ordinary examples taken from home life, work life, and even vacation life… How do you get a good guide in a Moroccan bazaar?
In her groundbreaking reporting over the past few years, Naomi Klein introduced the term "disaster capitalism." Whether covering Baghdad after the U.S. occupation, Sri Lanka in the wake of the tsunami, or New Orleans post-Katrina, she witnessed something remarkably similar. People still reeling from catastrophe were being hit again, this time with economic "shock treatment," losing their land and homes to rapid-fire corporate makeovers.
The Shock Doctrine retells the story of the most dominant ideology of our time, Milton Friedman's free market economic revolution. In contrast to the popular myth of this movement's peaceful global victory, Klein shows how it has exploited moments of shock and extreme violence in order to implement its economic policies in so many parts of the world from Latin America and Eastern Europe to South Africa, Russia, and Iraq.
At the core of disaster capitalism is the use of cataclysmic events to advance radical privatization combined with the privatization of the disaster response itself. Klein argues that by capitalizing on crises, created by nature or war, the disaster capitalism complex now exists as a booming new economy, and is the violent culmination of a radical economic project that has been incubating for fifty years.
"Tyler Cowen's blog, Marginal Revolution, is the first thing I read every morning. And his brilliant new book, The Complacent Class, has been on my nightstand after I devoured it in one sitting. I am at round-the-clock Cowen saturation right now."--Malcolm Gladwell
Since Alexis de Tocqueville, restlessness has been accepted as a signature American trait. Our willingness to move, take risks, and adapt to change have produced a dynamic economy and a tradition of innovation from Ben Franklin to Steve Jobs.
The problem, according to legendary blogger, economist and best selling author Tyler Cowen, is that Americans today have broken from this tradition—we’re working harder than ever to avoid change. We're moving residences less, marrying people more like ourselves and choosing our music and our mates based on algorithms that wall us off from anything that might be too new or too different. Match.com matches us in love. Spotify and Pandora match us in music. Facebook matches us to just about everything else.
Of course, this “matching culture” brings tremendous positives: music we like, partners who make us happy, neighbors who want the same things. We’re more comfortable. But, according to Cowen, there are significant collateral downsides attending this comfort, among them heightened inequality and segregation and decreased incentives to innovate and create.
The Complacent Class argues that this cannot go on forever. We are postponing change, due to our near-sightedness and extreme desire for comfort, but ultimately this will make change, when it comes, harder. The forces unleashed by the Great Stagnation will eventually lead to a major fiscal and budgetary crisis: impossibly expensive rentals for our most attractive cities, worsening of residential segregation, and a decline in our work ethic. The only way to avoid this difficult future is for Americans to force themselves out of their comfortable slumber—to embrace their restless tradition again.