Every other week in the Read More newsletter – available for free to all registeredusers – PS contributors highlight books that have impressed them lately, and say why you should add them to your bookshelf. Here, we present a selection of their recent recommendations. From airplane to beach, and everywhere in between, the books below will keep you entertained, inspired, and enlightened all summer long.
“Demands for resilience began to dominate economic and political discussions during the COVID-19 pandemic, and gained further momentum after Russia’s invasion of Ukraine. Yet there is a startling lack of any rigorous conceptual treatment of resilience in the economics literature. Brunnermeier makes important progress on this front, first by defining ‘resilience,’ which he contrasts with ‘robustness.’ One analogy was particularly illuminating: whereas the robust oak can withstand many shocks, but breaks in extreme circumstances; the resilient reed sways in the wind, but does not break. Brunnermeier also provides a clear conceptual framework. While he does not offer concrete policy recommendations, this book remains a must-read for those seeking a rigorous understanding of resilience as it applies to social science.” Read Goldberg’s Say More interview.
“Princeton economist Ashoka Mody offers a detailed, richly resourced, and highly readable study of India’s economy since the end of colonial rule. He is unsparingly critical of every Indian leader, from Jawaharlal Nehru to Narendra Modi, and paints a vivid picture of millions of Indians struggling with high unemployment and living on the margins of a society where public goods are lacking and institutions are woefully ineffective. His arguments will not be universally endorsed, but they offer a sobering corrective to some of the current hype about the world’s fastest-growing major economy.” Read Tharoor’s Say More interview.
“Given the events of 2022, I would strongly recommend this 2017 book, which documents – with many interesting and instructive details – how Russia’s imperial myth has been constructed over many centuries, in particular the last 200 years. It highlights, for example, how Russian and Soviet history books taught successive generations to look down on neighbors like Ukraine. For those who are wondering how the invasion of Ukraine became possible, and how to end Russian imperialism, Plokhy’s book offers evidence-based answers.” Read Guriev’s Say More interview.
“I strongly recommend this book by one of the leading British commentators of the last few years, whose writing for the Financial Times covers much more than day-to-day economics. Here, Wolf brings together his sensible thoughts about the mistakes governments have made in managing capitalism in recent years, and the relationship between those errors and the emergence of threats to liberal democracy. He reminds us of the importance of giving everyone an opportunity to live a decent life. We should remember the wise counsel of Alexis De Tocqueville: ‘the most imperious of all necessities’ is ‘that of not sinking in the world.’” Read Patten’s Say More interview.
“If you did not pick up this important book last September, when I wrote an in-depth review of it for Project Syndicate, you should now. Gerstle provides the rich historical context – including its ideological and political dimensions – needed to understand how democratic capitalism reached a breaking point in the UK and the US, represented by the Brexit vote and Donald Trump’s election, respectively. The book’s central analytical theme is how a political program becomes a political “order” when the opposition accepts its terms as defining the available policy space. Just as Republican President Dwight D. Eisenhower’s administration accepted the principal components of Democratic President Franklin Delano Roosevelt’s New Deal in the 1950s, the administrations of Democrats Bill Clinton and Barack Obama accepted many of the terms of Ronald Reagan’s “revolution” a generation later. The 2008 global financial crisis catalyzed the demise of the neoliberal order, which, as Gerstle puts it, has now ‘fallen apart,’ leaving national governments challenged to find politically legitimate responses to the polarization and economic dysfunction left behind.” Read Janeway’s Say More interview.
“This book, written by the president of Johns Hopkins University, makes a compelling case for universities not only to offer civics education to their students, but even to require it as a condition of graduation. Daniels accuses universities of failing to meet their social obligations, and he has the courage to take on some sacred cows, including legacy admissions for the children of graduates – a practice that perpetuates class division in the US. This book had more than a little impact on my own thinking and writing.” Read Haass’s Say More interview.
“This is an instant classic. It traces the semiconductor industry’s long history, starting in the 1950s, and examines the changing facets of leadership. In particular, it describes how the US regained the technological lead from Japan after the 1980s. Miller provides a convincing study of the interplay between innovation, government sponsorship, and government demand, and delivers insights into how a globally crucial industry can thrive in a small economy (Taiwan). The book highlights the obvious vulnerabilities that Taiwan’s dominance in chip production creates, and gives a powerful sense of the extreme lumpiness of the investment (meaning that it is difficult to liquidate), while reminding readers that world-spanning advanced technology is never captured or controlled by one country. Miller began as an expert on Soviet economic development, and his analysis of that topic underscores the incapacity of government planning, on its own, to alter the terms of technological rivalry.” Read James’s Say More interview.
“This book offers a brilliant explanation of how and why private equity destroys companies and jobs, while creating vast wealth for its principals. Ballou brings to bear his experience at the US Department of Justice and provides the kind of dispassionate analysis one would expect of a top legal expert, while weaving in stories that are compelling, well-documented, and full of human interest. He concludes by proposing thoughtful remedies that should become national priorities. Unfortunately, the powerful political influence of private equity is certain continue to impede progress.” Read Johnson’s Say More interview.
“Walt offers a convincing explanation of why US foreign policy, designed to spread liberal democracy, has been flawed and costly. The book’s argument is straightforward: since the end of the Cold War, US leaders have consistently exaggerated threats from global adversaries, and policies aimed at advancing a grand vision of American exceptionalism have repeatedly failed. As a result, the US has incurred large economic and reputational costs – far larger than most Americans seem to realize.” Read Jin’s Say More interview.
“This book explores how humans have dealt with the aftermath of tragedy and sorrow – the kinds of experiences that could challenge our faith in humanity – across civilizations and centuries. Combining history and philosophy, Ignatieff highlights traditions of consolation worth reviving in this uncertain century.” Read Nye’s Say More interview.
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Alison L. LaCroix
explains why “originalist” methods of constitutional interpretation are deeply ahistorical, describes the zero-sum relationship between state and federal power in modern America, identifies possible historical analogues for the upcoming US presidential election, and more.
From a long list of criminal indictments to unfavorable voter demographics, there is plenty standing between presumptive GOP nominee Donald Trump and a second term in the White House. But a Trump victory in the November election remains a distinct possibility – and a cause for serious economic concern.
Iran’s mass ballistic missile and drone attack on Israel last week raised anew the specter of a widening Middle East war that draws in Iran and its proxies, as well as Western countries like the United States. The urgent need to defuse tensions – starting by ending Israel’s war in Gaza and pursuing a lasting political solution to the Israeli-Palestinian conflict – is obvious, but can it be done?
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Pinelopi Koujianou Goldberg Recommends...
Markus Brunnermeier, The Resilient Society
“Demands for resilience began to dominate economic and political discussions during the COVID-19 pandemic, and gained further momentum after Russia’s invasion of Ukraine. Yet there is a startling lack of any rigorous conceptual treatment of resilience in the economics literature. Brunnermeier makes important progress on this front, first by defining ‘resilience,’ which he contrasts with ‘robustness.’ One analogy was particularly illuminating: whereas the robust oak can withstand many shocks, but breaks in extreme circumstances; the resilient reed sways in the wind, but does not break. Brunnermeier also provides a clear conceptual framework. While he does not offer concrete policy recommendations, this book remains a must-read for those seeking a rigorous understanding of resilience as it applies to social science.” Read Goldberg’s Say More interview.
Shashi Tharoor Recommends...
Ashoka Mody, India is Broken: A People Betrayed, Independence to Today
“Princeton economist Ashoka Mody offers a detailed, richly resourced, and highly readable study of India’s economy since the end of colonial rule. He is unsparingly critical of every Indian leader, from Jawaharlal Nehru to Narendra Modi, and paints a vivid picture of millions of Indians struggling with high unemployment and living on the margins of a society where public goods are lacking and institutions are woefully ineffective. His arguments will not be universally endorsed, but they offer a sobering corrective to some of the current hype about the world’s fastest-growing major economy.” Read Tharoor’s Say More interview.
Sergei Guriev Recommends...
Serhii Plokhy, The Lost Kingdom: The Quest for Empire and the Making of the Russian Nation
“Given the events of 2022, I would strongly recommend this 2017 book, which documents – with many interesting and instructive details – how Russia’s imperial myth has been constructed over many centuries, in particular the last 200 years. It highlights, for example, how Russian and Soviet history books taught successive generations to look down on neighbors like Ukraine. For those who are wondering how the invasion of Ukraine became possible, and how to end Russian imperialism, Plokhy’s book offers evidence-based answers.” Read Guriev’s Say More interview.
Chris Patten Recommends...
Martin Wolf, The Crisis of Democratic Capitalism
“I strongly recommend this book by one of the leading British commentators of the last few years, whose writing for the Financial Times covers much more than day-to-day economics. Here, Wolf brings together his sensible thoughts about the mistakes governments have made in managing capitalism in recent years, and the relationship between those errors and the emergence of threats to liberal democracy. He reminds us of the importance of giving everyone an opportunity to live a decent life. We should remember the wise counsel of Alexis De Tocqueville: ‘the most imperious of all necessities’ is ‘that of not sinking in the world.’” Read Patten’s Say More interview.
William H. Janeway Recommends...
Gary Gerstle, The Rise and Fall of the Neoliberal Order: America and the World in the Free Market Era
“If you did not pick up this important book last September, when I wrote an in-depth review of it for Project Syndicate, you should now. Gerstle provides the rich historical context – including its ideological and political dimensions – needed to understand how democratic capitalism reached a breaking point in the UK and the US, represented by the Brexit vote and Donald Trump’s election, respectively. The book’s central analytical theme is how a political program becomes a political “order” when the opposition accepts its terms as defining the available policy space. Just as Republican President Dwight D. Eisenhower’s administration accepted the principal components of Democratic President Franklin Delano Roosevelt’s New Deal in the 1950s, the administrations of Democrats Bill Clinton and Barack Obama accepted many of the terms of Ronald Reagan’s “revolution” a generation later. The 2008 global financial crisis catalyzed the demise of the neoliberal order, which, as Gerstle puts it, has now ‘fallen apart,’ leaving national governments challenged to find politically legitimate responses to the polarization and economic dysfunction left behind.” Read Janeway’s Say More interview.
Richard Haass Recommends...
Ron Daniels, What Universities Owe Democracy
“This book, written by the president of Johns Hopkins University, makes a compelling case for universities not only to offer civics education to their students, but even to require it as a condition of graduation. Daniels accuses universities of failing to meet their social obligations, and he has the courage to take on some sacred cows, including legacy admissions for the children of graduates – a practice that perpetuates class division in the US. This book had more than a little impact on my own thinking and writing.” Read Haass’s Say More interview.
Harold James Recommends...
Chris Miller, Chip War: The Fight for the World’s Most Critical Technology
“This is an instant classic. It traces the semiconductor industry’s long history, starting in the 1950s, and examines the changing facets of leadership. In particular, it describes how the US regained the technological lead from Japan after the 1980s. Miller provides a convincing study of the interplay between innovation, government sponsorship, and government demand, and delivers insights into how a globally crucial industry can thrive in a small economy (Taiwan). The book highlights the obvious vulnerabilities that Taiwan’s dominance in chip production creates, and gives a powerful sense of the extreme lumpiness of the investment (meaning that it is difficult to liquidate), while reminding readers that world-spanning advanced technology is never captured or controlled by one country. Miller began as an expert on Soviet economic development, and his analysis of that topic underscores the incapacity of government planning, on its own, to alter the terms of technological rivalry.” Read James’s Say More interview.
Simon Johnson Recommends...
Brendan Ballou, Plunder: Private Equity’s Plan to Pillage America
“This book offers a brilliant explanation of how and why private equity destroys companies and jobs, while creating vast wealth for its principals. Ballou brings to bear his experience at the US Department of Justice and provides the kind of dispassionate analysis one would expect of a top legal expert, while weaving in stories that are compelling, well-documented, and full of human interest. He concludes by proposing thoughtful remedies that should become national priorities. Unfortunately, the powerful political influence of private equity is certain continue to impede progress.” Read Johnson’s Say More interview.
Keyu Jin Recommends...
Stephen M. Walt, The Hell of Good Intentions: America’s Foreign Policy Elite and the Decline of US Primacy
“Walt offers a convincing explanation of why US foreign policy, designed to spread liberal democracy, has been flawed and costly. The book’s argument is straightforward: since the end of the Cold War, US leaders have consistently exaggerated threats from global adversaries, and policies aimed at advancing a grand vision of American exceptionalism have repeatedly failed. As a result, the US has incurred large economic and reputational costs – far larger than most Americans seem to realize.” Read Jin’s Say More interview.
Joseph S. Nye, Jr., Recommends...
Michael Ignatieff, On Consolation: Finding Solace in Dark Times
“This book explores how humans have dealt with the aftermath of tragedy and sorrow – the kinds of experiences that could challenge our faith in humanity – across civilizations and centuries. Combining history and philosophy, Ignatieff highlights traditions of consolation worth reviving in this uncertain century.” Read Nye’s Say More interview.