The Economists Hour: Binyamin Appelbaum Explains How the Quest for Growth Transformed America

Toats: As you would expect, this was a thoroughly researched and beautifully crafted account of the rise of economists.

United Kingdom on Jan 14, 2022

Hande Z: This is an enthralling and educational book about the history of modern economics. It is chiefly about the nature and practice of the free market. What is the free market? It is the idea of Milton Friedman, the leader of the Chicago School of Economics. He believes that in an economy, there should little or no governmental interventions. That idea led to the rejection of regulations. It is therefore an idea contrary to the hitherto established economic theory of Maynard Keynes. Keynes believed in governmental intervention and controlled stimulus.

Applebaum unravels the history of politics in the USA that led to the rise of the Chicago School of economics, the massive deregulation of industries and financial institutions, the growth of monopolies, and, consequently, massive inequality. Free market, it seems, had exposed the dark side of capitalism.

Yet many argue that some ‘inequality is not just unavoidable, but desirable’ and that the ‘struggle of men for larger incomes was good because in the process they learned independence, self-reliance, self-discipline – because, in short, they become better men’. But Applebaum says that this is not the case because...

United States on Dec 06, 2021

M Clark: This well-written and entertaining book covers the key economic ideas and public policies since WW II. It is a valuable and essential look at our history. I would love to take a seminar using this book as a text

Germany on Mar 14, 2021

Sandeep Bhasin: If you are interested in History of Economics, this book is what you need. If you wish to know how the Economics affect the economy, rear-view mirror driving, this book is for you. Amazing research.

India on Aug 27, 2020

Arthur R. Silen: Binyamin Appelbaum's recent book, the Economists' Hour (Little, Brown & Company, 2019) is a well-written, accessible history of the dominant trends in economic thinking from the Great Depression until the present day. It is lively, entertaining, insightful, and a valuable addition to any well-read reader's library, and it is especially helpful to readers who are having trouble distinguishing the propaganda that emanates from the Wall Street Journal's editorial page from the history of what actually happened to the American economy during the ninety years that spanned the start of the Great Depression to the near-collapse of the American, and by extension, the world economies a decade ago.

The book is really about capitalism, the dominant economic theory of the last third of the 20th century, and the first two decades of the present century, and it raises the question of how much collateral damage societies and governments are willing to tolerate to give the advocates of unfettered free markets almost carte blanche in their efforts to create and sustain economic growth. The answer appears to be, an enormous amount, as wealth piles up exponentially around the world, but...

United States on Mar 25, 2020

weir jan: An excellent expose of the sociopathic ethics of the mainstream economists who care only for increased GDP without regard to the unfair distribution of wealth that has created the modern populist movements.

Canada on Feb 19, 2020

Bev Kennedy: An excellent accounting of economists theories in and out of fashion and the impact on he economy and general public
The book really gains steam in part two
It is not a quick read but has layers of information and insight

Canada on Dec 26, 2019