March 1, 2014 in filtered based on personal
Only the foreword by Ignacio Palacios-Huerta of the London School of Economics would make this book worth reading. Reflecting beyond his own life he contacted a group of leading economists and got mainly positive responses. Some of the texts are not very well thought through and I would assume that few agree with them (perhaps a few neoclassical economists). This is however not a problem at all as the texts are still inspiring.
There are also chapters, like the final chapter by Martin L. Weitzman, that challenges us to think about what kind of economy we want to have. It is an excellent overview of how current economic models and systems are unable to provide incentives for strategic action. Instead we run the risk of ignoring to take action util we are in a situation when someone is desperate enough to take enormous risks.
What is interesting and might come as some surprise for those who only listen to mainstream mass media is that, in the word of Simon Kuper who wrote the FT review, “Most economists in this book worry less about income levels than about inequality, which in the robotic age could be a lot worse than today.” The FT review can be found here.
A book that clearly show the benefits of providing a 22nd century voice in the current debate. More, including a Google preview here.