The Economists' Hour by Binyamin Appelbaum

The Economists' Hour

by Binyamin Appelbaum

'A well-reported and researched history of the ways in which plucky economists helped rewrite policy in America and Europe and across emerging markets.' The Economist

'A highly readable, exhilaratingly detailed biographical account.' Sunday Telegraph

As the post-World War II economic boom began to falter in the late 1960s, a new breed of economists gained influence and power. Over time, their ideas reshaped the modern world, curbing governments, unleashing corporations and hastening globalization.

Their fundamental belief? That governments should stop trying to manage the economy.

Their guiding principle? That markets would deliver steady growth and broad prosperity.

But the economists' hour failed to deliver on its premise. The single-minded embrace of markets has come at the expense of economic equality, the health of liberal democracy and of future generations. Across the world, from both right and left, the assumptions of the once-dominant school of free-market economic thought are being challenged, as we count the costs as well as the gains of its influence.

In The Economists' Hour, acclaimed New York Times writer Binyamin Appelbaum provides both a reckoning with the past and a call for a different future.

'A reminder of the power of ideas to shape the course of history.' New Yorker

Reviewed by Lianne on

3 of 5 stars

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I was approved an ARC of this book by the publishers via NetGalley in exchange for an honest review. This review in its entirety was originally posted at my blog, eclectic tales: http://eclectictales.insanitysandwich.com/blog/2019/10/04/review-the-economists-hour-false-prophets-free-markets-and-the-fracture-of-societ/

I read this eARC at a very interesting time, reading a lot of economics at the time. The first half of the book was more historical, following the progress of how the economic system developed for most of the twentieth century, whereas the latter half of the book focused on more recent political and economic events. It does focus considerably on economic politics and developments in the United States, which makes sense given their role in the world during the 20th century, but the third part of the book does take a more international focus, which I appreciated since that’s the part of economics that interests me.

I wish I had more to say about this book; unfortunately I did read the bulk of this book as I was queuing for an event so I might have used some more of the details. Overall though The Economists’ Hour was a fascinating read; I learned a lot more about the economists and individuals involved in directing and dictating the flow of politics and economics throughout the twentieth century, what they did, what they introduced (or not) that shaped how we came to be in our present situation globally. Definitely worth checking out if you’re interested in the topic. Many thanks to the publishers again for letting me read a copy of this book.

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Reading updates

  • Started reading
  • 25 August, 2019: Finished reading
  • 25 August, 2019: Reviewed