Knowledge that Transforms

Eric A. Posner of University of Chicago reviews “The Problem of Twelve: When a Few Financial Institutions Control Everything” by John Coates. The Econlit abstract of this book begins: “Explores issues that arise when a small number of actors acquire the means to exert outsized influence over the politics and economy of a nation, focusing in particular on the two late-twentieth-century institutions of index funds and private equity funds.”

Jonathan Skinner of Dartmouth University reviews “Why Not Better and Cheaper? Healthcare and Innovation” by James B. Rebitzer and Robert S. Rebitzer. The Econlit abstract of this book begins: “Considers why the US health-care system is becoming neither better nor more affordable over time, contending that the health sector generates the wrong kinds of innovation by making it easy to profit from low-value innovations and difficult to do the same from innovations that reduce care costs.”

Betsey Stevenson of University of Michigan reviews “Career and Family: Women’s Century-Long Journey toward Equity” by Claudia Golden. The Econlit abstract of this book begins: “Explores the reasons for the persisting gender earnings gap, focusing on women's role in the American economy and how it has transformed over the last century.”

Carola Binder of Haverford College reviews “The Monetarists: The Making of the Chicago Monetary Tradition, 1927–1960” by George S. Tavlas. The Econlit abstract of this book begins: “Considers the emergence and development of the Chicago monetary tradition into what became known as monetarism, describing it as it was reflected in the works of a small group of University of Chicago economists who preserved the importance of the quantity theory of money and defended the free-market system.”

David Just of Cornell University reviews “The World of Sugar: How the Sweet Stuff Transformed Our Politics, Health, and Environment over 2,000 Years” by Ulbe Bosma. The Econlit abstract of this book begins: “Explores the evolution of sugar from luxury to ubiquity, promoting the view that while the contemporary prevalence of sugar is an indication of progress, it also reveals a darker story of human exploitation, racism, obesity, and environmental destruction.”

Kimberly Ann Elliott of Former Senior Fellow with the Peterson Institute and the Center for Global Development reviews “How Sanctions Work: Iran and the Impact of Economic Warfare” by Narges Bajoghli, Vali Nasr, Djavad Salehi-Isfahani, and Ali Vaez. The Econlit abstract of this book begins: “Explores how sanctions have impacted the political calculus of those in power in Iran, providing a fuller picture of how prolonged comprehensive sanctions both impact the targeted society and reverberate outward into international politics and economics.”

Geoffrey Carliner of Boston Committee on Foreign Relations reviews “The Capitalist Manifesto: Why the Global Free Market Will Save the World” by By Johan Norberg. The EconLit abstract of this book begins: “Assesses the role of freedom and choice in capitalism, promoting the view that arguments against capitalism fail to take into account how capitalist competition has largely led to improvements in global standards of living.”

Joseph P. Ferrie of Northwestern University and NBER reviews “Economics in America: An Immigrant Economist Explores the Land of Inequality” by Angus Deaton. The Econlit abstract of this book begins: “Explores the positives and negatives of economics as both a science and a profession, presenting insights from the author's personal experiences as a naturalized US citizen and academic economist.”

Neil Cummins of London School of Economics reviews “As Gods Among Men: A History of the Rich in the West” by Guido Alfani. The Econlit abstract of this book begins: “Explores the role and significance of the Western rich and superrich in history, detailing important aspects of their behavior to pinpoint patterns representing elements of continuity or change.”

Dominika Langenmayr of KU Eichstatt-Ingolstadt, WU Vienna, and CESifo reviews “The Golden Passport: Global Mobility for Millionaires” by Kristin Surak. The EconLit abstract of this book begins: “Examines the global citizenship market, chronicling the emergence of golden passport schemes, investigating the countries, brokers, and wealthy investors that make up the citizenship by investment (CBI) market, and offering the perspectives of locals and investors in golden passport countries.”