The Making Of A European Economist

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The Greek Revolution

Author : Mark Mazower
Publisher : Penguin
ISBN 13 : 0143110934
Total Pages : 625 pages
Book Rating : 4.1/5 (431 download)

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Book Synopsis The Greek Revolution by : Mark Mazower

Download or read book The Greek Revolution written by Mark Mazower and published by Penguin. This book was released on 2022-11-22 with total page 625 pages. Available in PDF, EPUB and Kindle. Book excerpt: Winner of the Duff Cooper Prize • One of The Economist's top history books of the year From one of our leading historians, an important new history of the Greek War of Independence—the ultimate worldwide liberal cause célèbre of the age of Byron, Europe’s first nationalist uprising, and the beginning of the downward spiral of the Ottoman Empire—published two hundred years after its outbreak As Mark Mazower shows us in his enthralling and definitive new account, myths about the Greek War of Independence outpaced the facts from the very beginning, and for good reason. This was an unlikely cause, against long odds, a disorganized collection of Greek patriots up against what was still one of the most storied empires in the world, the Ottomans. The revolutionaries needed all the help they could get. And they got it as Europeans and Americans embraced the idea that the heirs to ancient Greece, the wellspring of Western civilization, were fighting for their freedom against the proverbial Eastern despot, the Turkish sultan. This was Christianity versus Islam, now given urgency by new ideas about the nation-state and democracy that were shaking up the old order. Lord Byron is only the most famous of the combatants who went to Greece to fight and die—along with many more who followed events passionately and supported the cause through art, music, and humanitarian aid. To many who did go, it was a rude awakening to find that the Greeks were a far cry from their illustrious forebears, and were often hard to tell apart from the Ottomans. Mazower does full justice to the realities on the ground as a revolutionary conspiracy triggered outright rebellion, and a fraying and distracted Ottoman leadership first missed the plot and then overreacted disastrously. He shows how and why ethnic cleansing commenced almost immediately on both sides. By the time the dust settled, Greece was free, and Europe was changed forever. It was a victory for a completely new kind of politics—international in its range and affiliations, popular in its origins, romantic in sentiment, and radical in its goals. It was here on the very edge of Europe that the first successful revolution took place in which a people claimed liberty for themselves and overthrew an entire empire to attain it, transforming diplomatic norms and the direction of European politics forever, and inaugurating a new world of nation-states, the world in which we still live.

The Pursuit of Power

Author : Richard J. Evans
Publisher : Penguin UK
ISBN 13 : 0241295777
Total Pages : 1071 pages
Book Rating : 4.2/5 (412 download)

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Book Synopsis The Pursuit of Power by : Richard J. Evans

Download or read book The Pursuit of Power written by Richard J. Evans and published by Penguin UK. This book was released on 2016-09-01 with total page 1071 pages. Available in PDF, EPUB and Kindle. Book excerpt: ECONOMIST BOOKS OF THE YEAR 2016 'A scintillating, encyclopaedic history, rich in detail from the arcane to the familiar... a veritable tour de force' Richard Overy, New Statesman 'Transnational history at its finest ... .. social, political and cultural themes swirl together in one great canvas of immense detail and beauty' Gerard DeGroot, The Times 'Dazzlingly erudite and entertaining' Dominic Sandbrook, The Sunday Times A masterpiece which brings to life an extraordinarly turbulent and dramatic era of revolutionary change. The Pursuit of Power draws on a lifetime of thinking about nineteenth-century Europe to create an extraordinarily rich, surprising and entertaining panorama of a continent undergoing drastic transformation. The book aims to reignite the sense of wonder that permeated this remarkable era, as rulers and ruled navigated overwhelming cultural, political and technological changes. It was a time where what was seen as modern with amazing speed appeared old-fashioned, where huge cities sprang up in a generation, new European countries were created and where, for the first time, humans could communicate almost instantly over thousands of miles. In the period bounded by the Battle of Waterloo and the outbreak of World War I, Europe dominated the rest of the world as never before or since: this book breaks new ground by showing how the continent shaped, and was shaped by, its interactions with other parts of the globe. Richard Evans explores fully the revolutions, empire-building and wars that marked the nineteenth century, but the book is about so much more, whether it is illness, serfdom, religion or philosophy. The Pursuit of Power is a work by a historian at the height of his powers: essential for anyone trying to understand Europe, then or now.

Taking Economics Seriously

Author : Dean Baker
Publisher : MIT Press
ISBN 13 : 0262291533
Total Pages : 48 pages
Book Rating : 4.2/5 (622 download)

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Book Synopsis Taking Economics Seriously by : Dean Baker

Download or read book Taking Economics Seriously written by Dean Baker and published by MIT Press. This book was released on 2010-04-02 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: A leading economist's exploration of what our economic arrangements might look like if we applied basic principles without ideological blinders. There is nothing wrong with economics, Dean Baker contends, but economists routinely ignore their own principles when it comes to economic policy. What would policy look like if we took basic principles of mainstream economics seriously and applied them consistently? In the debate over regulation, for example, Baker—one of the few economists who predicted the meltdown of fall 2008—points out that ideological blinders have obscured the fact there is no “free market” to protect. Modern markets are highly regulated, although intrusive regulations such as copyright and patents are rarely viewed as regulatory devices. If we admit the extent to which the economy is and will be regulated, we have many more options in designing policy and deciding who benefits from it. On health care reform, Baker complains that economists ignore another basic idea: marginal cost pricing. Unlike all other industries, medical services are priced extraordinarily high, far above the cost of production, yet that discrepancy is rarely addressed in the debate about health care reform. What if we applied marginal cost pricing—making doctors' wages competitive and charging less for prescription drugs and tests such as MRIs? Taking Economics Seriously offers an alternative Econ 101. It introduces economic principles and thinks through what we might gain if we free ourselves from ideological blinders and get back to basics in the most troubled parts of our economy.

The Making Of An Economist

Author : Arjo Klamer
Publisher : Routledge
ISBN 13 : 1000303128
Total Pages : 191 pages
Book Rating : 4.0/5 (3 download)

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Book Synopsis The Making Of An Economist by : Arjo Klamer

Download or read book The Making Of An Economist written by Arjo Klamer and published by Routledge. This book was released on 2019-07-11 with total page 191 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on the graduate education of a small group of economists—those at elite schools. It is intended for three audiences: aspiring economists, economists, and the lay public. The book reports conversations with MIT, Harvard, Chicago, and Columbia students.

The Dream of Europe

Author : Geert Mak
Publisher : Vintage
ISBN 13 : 9781529113044
Total Pages : 0 pages
Book Rating : 4.1/5 (13 download)

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Book Synopsis The Dream of Europe by : Geert Mak

Download or read book The Dream of Europe written by Geert Mak and published by Vintage. This book was released on 2023-03-23 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Mak is the history teacher everyone should have had' Financial Times From the author of the internationally acclaimed In Europe, a stunning history of our present, examining the first two decades of this most fragile and fraught new millennium. How did the great European dream turn sour? And where do we go from here? In this illuminating book, Geert Mak - one of Europe's best-loved commentators - charts the seismic events that have shaped people's lives over the past twenty years. He moves through the rocky expansion of the EU, the aftermath of 9/11 and terrorist attacks across Europe, the 2008 financial crash and the euro crisis, and on to the rise of right-wing populism and Brexit. Like no other, Mak blends history, politics and culture with the stories and experiences of the many Europeans he meets on his travels. He brings this continent to life, and asks- what role does Europe now play, and how might we face our fresh challenges together? 'A powerful, humane and serious mind' Guardian 'Mak is a truly cosmopolitan chronicler' Independent

The Making of a European Economist

Author : David Colander
Publisher : Edward Elgar Publishing
ISBN 13 : 1848449119
Total Pages : 199 pages
Book Rating : 4.8/5 (484 download)

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Book Synopsis The Making of a European Economist by : David Colander

Download or read book The Making of a European Economist written by David Colander and published by Edward Elgar Publishing. This book was released on 2009-01-01 with total page 199 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book is fascinating to read not only by someone like me who is not really an economist, but has been close to the field and has been teaching students of economics for a long time, but mainly by policymakers both in the field of higher education and in other fields like business where the larger aspects of societal changes are more and more apparent. The book is even more worth-reading to an audience of economics professors, researchers, students and particularly policymakers who are waiting for input from economic higher education. . . Mariana Nicolae, Journal of Philosophical Economics In this captivating volume, David Colander scrutinizes economics in Europe, which is currently undergoing a radical process of convergence, standardization and metrication. While he acknowledges that the USA is the world leader in terms of journal publications in economics, he also suggests that the scholarly breadth and practical orientation of much economics research in Europe is worth preserving and enhancing. No-one who wishes to make economics more relevant should ignore Colander s painstaking study. Geoffrey M. Hodgson, University of Hertfordshire, UK David Colander s highly original and thought provoking book considers ongoing changes in graduate European economics education. Following up on his earlier classic studies of US graduate economic education, he studies the economist production function in which universities take student raw material and transform it into economists, In doing so he provides insight into economists and economics. He argues that until recently Europe had a different economist production function than did the US; thus European economists were different from their US counterparts. However, this is now changing, and Colander suggests that the changes are not necessarily for the best. Specifically, he suggests that in their attempt to catch up with US programs, European economics is undermining some of their strengths-strengths that could allow them to leapfrog US economics in the future, and be the center of 21st century economics. Student views on the ongoing changes and ensuing difficulties are reported via surveys of, and interviews with, students in global European graduate programs. The conclusion draws broad policy implications from the study, and suggests a radically different market approach to funding economic research that Colander argues will help avoid the pitfalls into which European economics is now falling. This unique and path-breaking book will prove essential reading for economists, as well as academics, students and researchers with a special interest in economics education, the methodology of economics, or the history of economic thought.

Veblen

Author : Charles Camic
Publisher : Harvard University Press
ISBN 13 : 0674659724
Total Pages : 505 pages
Book Rating : 4.6/5 (746 download)

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Book Synopsis Veblen by : Charles Camic

Download or read book Veblen written by Charles Camic and published by Harvard University Press. This book was released on 2020-11-30 with total page 505 pages. Available in PDF, EPUB and Kindle. Book excerpt: A bold new biography of the thinker who demolished accepted economic theories in order to expose how people of economic and social privilege plunder their wealth from society’s productive men and women. Thorstein Veblen was one of America’s most penetrating analysts of modern capitalist society. But he was not, as is widely assumed, an outsider to the social world he acidly described. Veblen overturns the long-accepted view that Veblen’s ideas, including his insights about conspicuous consumption and the leisure class, derived from his position as a social outsider. In the hinterlands of America’s Midwest, Veblen’s schooling coincided with the late nineteenth-century revolution in higher education that occurred under the patronage of the titans of the new industrial age. The resulting educational opportunities carried Veblen from local Carleton College to centers of scholarship at Johns Hopkins, Yale, Cornell, and the University of Chicago, where he studied with leading philosophers, historians, and economists. Afterward, he joined the nation’s academic elite as a professional economist, producing his seminal books The Theory of the Leisure Class and The Theory of Business Enterprise. Until late in his career, Veblen was, Charles Camic argues, the consummate academic insider, engaged in debates about wealth distribution raging in the field of economics. Veblen demonstrates how Veblen’s education and subsequent involvement in those debates gave rise to his original ideas about the social institutions that enable wealthy Americans—a swarm of economically unproductive “parasites”—to amass vast fortunes on the backs of productive men and women. Today, when great wealth inequalities again command national attention, Camic helps us understand the historical roots and continuing reach of Veblen’s searing analysis of this “sclerosis of the American soul.”

The Making of Modern Economics

Author : Mark Skousen
Publisher : Routledge
ISBN 13 : 131745586X
Total Pages : 770 pages
Book Rating : 4.3/5 (174 download)

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Book Synopsis The Making of Modern Economics by : Mark Skousen

Download or read book The Making of Modern Economics written by Mark Skousen and published by Routledge. This book was released on 2015-01-28 with total page 770 pages. Available in PDF, EPUB and Kindle. Book excerpt: Here is a bold history of economics - the dramatic story of how the great economic thinkers built today's rigorous social science. Noted financial writer and economist Mark Skousen has revised and updated this popular work to provide more material on Adam Smith and Karl Marx, and expanded coverage of Joseph Stiglitz, 'imperfect' markets, and behavioral economics.This comprehensive, yet accessible introduction to the major economic philosophers of the past 225 years begins with Adam Smith and continues through the present day. The text examines the contributions made by each individual to our understanding of the role of the economist, the science of economics, and economic theory. To make the work more engaging, boxes in each chapter highlight little-known - and often amusing - facts about the economists' personal lives that affected their work.

The Economists' Hour

Author : Binyamin Appelbaum
Publisher : Little, Brown
ISBN 13 : 0316512273
Total Pages : 473 pages
Book Rating : 4.3/5 (165 download)

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Book Synopsis The Economists' Hour by : Binyamin Appelbaum

Download or read book The Economists' Hour written by Binyamin Appelbaum and published by Little, Brown. This book was released on 2019-09-03 with total page 473 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this "lively and entertaining" history of ideas (Liaquat Ahamed, The New Yorker), New York Times editorial writer Binyamin Appelbaum tells the story of the people who sparked four decades of economic revolution. Before the 1960s, American politicians had never paid much attention to economists. But as the post-World War II boom began to sputter, economists gained influence and power. In The Economists' Hour, Binyamin Appelbaum traces the rise of the economists, first in the United States and then around the globe, as their ideas reshaped the modern world, curbing government, unleashing corporations and hastening globalization. Some leading figures are relatively well-known, such as Milton Friedman, the elfin libertarian who had a greater influence on American life than any other economist of his generation, and Arthur Laffer, who sketched a curve on a cocktail napkin that helped to make tax cuts a staple of conservative economic policy. Others stayed out of the limelight, but left a lasting impact on modern life: Walter Oi, a blind economist who dictated to his wife and assistants some of the calculations that persuaded President Nixon to end military conscription; Alfred Kahn, who deregulated air travel and rejoiced in the crowded cabins on commercial flights as the proof of his success; and Thomas Schelling, who put a dollar value on human life. Their fundamental belief? That government should stop trying to manage the economy.Their guiding principle? That markets would deliver steady growth, and ensure that all Americans shared in the benefits. But the Economists' Hour failed to deliver on its promise of broad prosperity. And the single-minded embrace of markets has come at the expense of economic equality, the health of liberal democracy, and future generations. Timely, engaging and expertly researched, The Economists' Hour is a reckoning -- and a call for people to rewrite the rules of the market. A Wall Street Journal Business BestsellerWinner of the Porchlight Business Book Award in Narrative & Biography

The Making of Competition Policy

Author : Daniel A. Crane
Publisher : Oxford University Press
ISBN 13 : 0199311560
Total Pages : 510 pages
Book Rating : 4.1/5 (993 download)

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Book Synopsis The Making of Competition Policy by : Daniel A. Crane

Download or read book The Making of Competition Policy written by Daniel A. Crane and published by Oxford University Press. This book was released on 2013-01-30 with total page 510 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides edited selections of primary source material in the intellectual history of competition policy from Adam Smith to the present day. Chapters include classical theories of competition, the U.S. founding era, classicism and neoclassicism, progressivism, the New Deal, structuralism, the Chicago School, and post-Chicago theories. Although the focus is largely on Anglo-American sources, there is also a chapter on European Ordoliberalism, an influential school of thought in post-War Europe. Each chapter begins with a brief essay by one of the editors pulling together the important themes from the period under consideration.

The Armchair Economist

Author : Steven E. Landsburg
Publisher : Simon and Schuster
ISBN 13 : 1471112233
Total Pages : 364 pages
Book Rating : 4.4/5 (711 download)

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Book Synopsis The Armchair Economist by : Steven E. Landsburg

Download or read book The Armchair Economist written by Steven E. Landsburg and published by Simon and Schuster. This book was released on 2012-05-10 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt: Air bags cause accidents, because well-protected drivers take more risks. This well-documented truth comes as a surprise to most people, but not to economists, who have learned to take seriously the proposition that people respond to incentives. In The Armchair Economist, Steven E. Landsburg shows how the laws of economics reveal themselves in everyday experience and illuminate the entire range of human behavior. Why does popcorn cost so much at the cinema? The 'obvious' answer is that the owner has a monopoly, but if that were the whole story, there would also be a monopoly price to use the toilet. When a sudden frost destroys much of the Florida orange crop and prices skyrocket, journalists point to the 'obvious' exercise of monopoly power. Economists see just the opposite: If growers had monopoly power, they'd have raised prices before the frost. Why don't concert promoters raise ticket prices even when they are sure they will sell out months in advance? Why are some goods sold at auction and others at pre-announced prices? Why do boxes at the football sell out before the standard seats do? Why are bank buildings fancier than supermarkets? Why do corporations confer huge pensions on failed executives? Why don't firms require workers to buy their jobs? Landsburg explains why the obvious answers are wrong, reveals better answers, and illuminates the fundamental laws of human behavior along the way. This is a book of surprises: a guided tour of the familiar, filtered through a decidedly unfamiliar lens. This is economics for the sheer intellectual joy of it.

Making the European Monetary Union

Author : Harold James
Publisher : Harvard University Press
ISBN 13 : 0674070941
Total Pages : 324 pages
Book Rating : 4.6/5 (74 download)

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Book Synopsis Making the European Monetary Union by : Harold James

Download or read book Making the European Monetary Union written by Harold James and published by Harvard University Press. This book was released on 2012-11-19 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: Europe’s financial crisis cannot be blamed on the Euro, Harold James contends in this probing exploration of the whys, whens, whos, and what-ifs of European monetary union. The current crisis goes deeper, to a series of problems that were debated but not resolved at the time of the Euro’s invention. Since the 1960s, Europeans had been looking for a way to address two conundrums simultaneously: the dollar’s privileged position in the international monetary system, and Germany’s persistent current account surpluses in Europe. The Euro was created under a politically independent central bank to meet the primary goal of price stability. But while the monetary side of union was clearly conceived, other prerequisites of stability were beyond the reach of technocratic central bankers. Issues such as fiscal rules and Europe-wide banking supervision and regulation were thoroughly discussed during planning in the late 1980s and 1990s, but remained in the hands of member states. That omission proved to be a cause of crisis decades later. Here is an account that helps readers understand the European monetary crisis in depth, by tracing behind-the-scenes negotiations using an array of sources unavailable until now, notably from the European Community’s Committee of Central Bank Governors and the Delors Committee of 1988–89, which set out the plan for how Europe could reach its goal of monetary union. As this foundational study makes clear, it was the constant friction between politicians and technocrats that shaped the Euro. And, Euro or no Euro, this clash will continue into the future.

Trillion Dollar Economists

Author : Robert Litan
Publisher : John Wiley & Sons
ISBN 13 : 1118781805
Total Pages : 400 pages
Book Rating : 4.1/5 (187 download)

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Book Synopsis Trillion Dollar Economists by : Robert Litan

Download or read book Trillion Dollar Economists written by Robert Litan and published by John Wiley & Sons. This book was released on 2014-09-22 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: A detailed look at how economists shaped the world, and how the legacy continues Trillion Dollar Economists explores the prize-winning ideas that have shaped business decisions, business models, and government policies, expanding the popular idea of the economist's role from one of forecaster to one of innovator. Written by the former Director of Economic Research at Bloomberg Government, the Kauffman Foundation and the Brookings Institution, this book describes the ways in which economists have helped shape the world – in some cases, dramatically enough to be recognized with a Nobel Prize or Clark Medal. Detailed discussion of how economists think about the world and the pace of future innovation leads to an examination of the role, importance, and limits of the market, and economists' contributions to business and policy in the past, present, and future. Few economists actually forecast the economy's performance. Instead, the bulk of the profession is concerned with how markets work, and how they can be made more efficient and productive to generate the things people want to buy for a better life. Full of interviews with leading economists and industry leaders, Trillion Dollar Economists showcases the innovations that have built modern business and policy. Readers will: Review the basics of economics and the innovation of economists, including market failures and the macro-micro distinction Discover the true power of economic ideas when used directly in business, as exemplified by Priceline and Google Learn how economists contributed to policy platforms in transportation, energy, telecommunication, and more Explore the future of economics in business applications, and the policy ideas, challenges, and implications Economists have helped firms launch new businesses, established new ways of making money, and shaped government policy to create new opportunities and a new landscape on which businesses compete. Trillion Dollar Economists provides a comprehensive exploration of these contributions, and a detailed look at innovation to come.

The Making of Economics

Author : E. Ray Canterbery
Publisher : World Scientific
ISBN 13 : 9789812383259
Total Pages : 314 pages
Book Rating : 4.3/5 (832 download)

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Book Synopsis The Making of Economics by : E. Ray Canterbery

Download or read book The Making of Economics written by E. Ray Canterbery and published by World Scientific. This book was released on 2003 with total page 314 pages. Available in PDF, EPUB and Kindle. Book excerpt: An exploration of the history of economics, updated for 2003. There are new chapters on the 'casino economy', Joseph Schumpeter, globalization, and general equilibrium. Ray Canterbery seeks to retain the flavour of the earlier editions by covering the times and ideas of the major economists.

The Brussels Effect

Author : Anu Bradford
Publisher : Oxford University Press
ISBN 13 : 0190088591
Total Pages : 425 pages
Book Rating : 4.1/5 (9 download)

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Book Synopsis The Brussels Effect by : Anu Bradford

Download or read book The Brussels Effect written by Anu Bradford and published by Oxford University Press. This book was released on 2020-01-27 with total page 425 pages. Available in PDF, EPUB and Kindle. Book excerpt: For many observers, the European Union is mired in a deep crisis. Between sluggish growth; political turmoil following a decade of austerity politics; Brexit; and the rise of Asian influence, the EU is seen as a declining power on the world stage. Columbia Law professor Anu Bradford argues the opposite in her important new book The Brussels Effect: the EU remains an influential superpower that shapes the world in its image. By promulgating regulations that shape the international business environment, elevating standards worldwide, and leading to a notable Europeanization of many important aspects of global commerce, the EU has managed to shape policy in areas such as data privacy, consumer health and safety, environmental protection, antitrust, and online hate speech. And in contrast to how superpowers wield their global influence, the Brussels Effect - a phrase first coined by Bradford in 2012- absolves the EU from playing a direct role in imposing standards, as market forces alone are often sufficient as multinational companies voluntarily extend the EU rule to govern their global operations. The Brussels Effect shows how the EU has acquired such power, why multinational companies use EU standards as global standards, and why the EU's role as the world's regulator is likely to outlive its gradual economic decline, extending the EU's influence long into the future.

The Economic Turn

Author : Steven Kaplan
Publisher : Anthem Press
ISBN 13 : 1783088575
Total Pages : 783 pages
Book Rating : 4.7/5 (83 download)

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Book Synopsis The Economic Turn by : Steven Kaplan

Download or read book The Economic Turn written by Steven Kaplan and published by Anthem Press. This book was released on 2019-01-16 with total page 783 pages. Available in PDF, EPUB and Kindle. Book excerpt: The mid-eighteenth century witnessed what might be dubbed an economic turn that resolutely changed the trajectory of world history. The discipline of economics itself emerged amidst this turn, and it is frequently traced back to the work of François Quesnay and his school of Physiocracy. Though lionized by the subsequent historiography of economics, the theoretical postulates and policy consequences of Physiocracy were disastrous at the time, resulting in a veritable subsistence trauma in France. This galvanized relentless and diverse critiques of the doctrine not only in France but also throughout the European world that have, hitherto, been largely neglected by scholars. Though Physiocracy was an integral part of the economic turn, it was rapidly overcome, both theoretically and practically, with durable and important consequences for the history of political economy. The Economic Turn brings together some of the leading historians of that moment to fundamentally recast our understanding of the origins and diverse natures of political economy in the Enlightenment.

How Economics Shapes Science

Author : Paula Stephan
Publisher : Harvard University Press
ISBN 13 : 0674267559
Total Pages : 318 pages
Book Rating : 4.6/5 (742 download)

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Book Synopsis How Economics Shapes Science by : Paula Stephan

Download or read book How Economics Shapes Science written by Paula Stephan and published by Harvard University Press. This book was released on 2015-09-07 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt: The beauty of science may be pure and eternal, but the practice of science costs money. And scientists, being human, respond to incentives and costs, in money and glory. Choosing a research topic, deciding what papers to write and where to publish them, sticking with a familiar area or going into something new—the payoff may be tenure or a job at a highly ranked university or a prestigious award or a bump in salary. The risk may be not getting any of that. At a time when science is seen as an engine of economic growth, Paula Stephan brings a keen understanding of the ongoing cost-benefit calculations made by individuals and institutions as they compete for resources and reputation. She shows how universities offload risks by increasing the percentage of non-tenure-track faculty, requiring tenured faculty to pay salaries from outside grants, and staffing labs with foreign workers on temporary visas. With funding tight, investigators pursue safe projects rather than less fundable ones with uncertain but potentially path-breaking outcomes. Career prospects in science are increasingly dismal for the young because of ever-lengthening apprenticeships, scarcity of permanent academic positions, and the difficulty of getting funded. Vivid, thorough, and bold, How Economics Shapes Science highlights the growing gap between the haves and have-nots—especially the vast imbalance between the biomedical sciences and physics/engineering—and offers a persuasive vision of a more productive, more creative research system that would lead and benefit the world.