Janek Wasserman— Americans searching Amazon’s best-seller list in June 2010 would have encountered a surprising title at the top, above the likes of books by Stieg Larsson, George W. Bush, Malcolm Gladwell, and Michael Lewis: Friedrich Hayek’s Road to Serfdom. The “Definitive Edition” had appeared in 2007, yet it sold only
Christopher Marquis— In 2012, the late Lynn Stout, a renowned legal scholar at Cornell Law School, published The Shareholder Value Myth: How Putting Shareholders First Harms Investors, Corporations, and the Public, a no-holds-barred exposé of the lies the corporate world tells itself about shareholder primacy and an explanation of why
George Magnus— When Mark Antony utters the words ‘let slip the dogs of war’ after the assassination of Julius Caesar, he is thought to be referring to devices in civilised societies that allow or inhibit war. For a long time, China and the US have had spats over specific trade
Jeannette Graulau— From David Landes’s Prometheus Unbound to Giovanni Arrighi’s Origins of Our Times, scholars continue to quarrel over one of the most difficult questions of all time: the why, how, and where of the origins of capitalism. Some return to the inexhaustible argument of England’s Industrial Revolution. Others, demystifying
Janek Wasserman— Friedrich Hayek’s Road to Serfdom is inarguably the most famous book associated with the Austrian School of Economics. The basic premises of Hayek’s argument are well known: “socialist” trends in German thought now threatened Western democracies; fascism and Nazism were the necessary outcome of those trends; government planning undermined
Kathleen Day— No one can predict what or when the next financial crisis will be, but one can spot troubling trends. Policies and practices that contributed to the last crisis—dubbed the Great Recession it was so severe—have started to reappear. Too much debt fuels every financial crisis. So where can
William D. Nordhaus— Begin by stepping back and asking a basic question. Why is global warming such a special problem? Why is it a global problem and not a national problem or a household problem? Why is it such a persistent problem? The economics of climate change is straightforward. Virtually
Scott A. Shane— We Americans aren’t creating new businesses with employees at the rate we once did. The formation of new employers has fallen below its replacement rate and many policymakers and pundits have become worried. Lesser entrepreneurship would mean a more rigid economy, less able to respond to shocks.