Author(s): The Economist Staff
The world of economics is changing. Years of turmoil in the global economy mean that nothing will ever be quite the same again. This is the starting point and theme of this radically revised Economist books classic. Richard Davies takes us on a journey through the paper's own analysis of the state of the world's economies, how we reached this point and what to expect in the next decade. He explores: * what's gone wrong since 2008, why it's happened and how we can stop it happening again * the shifting focus of economics from banking to labour economics* a new breed of firm with economics at their operational core * the future hopes and challenges for the world economyAlong the way, we encounter the global economy laid bare, from banks, panics and crashes to innovative new policies to improve how markets function; from discussions around jobs, pay and inequality to the promise of innovation and productivity; and from the implications of emerging markets and the globalisation of trade through to the sharing economy and the economics of Google and eBay. The result is a fascinating review of the global economy and the changing role of economics in the new world order.
An all-new digest of the Economist's own analysis of the state of economies and economics
Richard Davies is special economics advisor to the UK Chancellor of the Exchequer, George Osborne. He was previously Economics Editor of The Economist. Before joining the newspaper, he worked at the Bank of England, where he managed teams covering international economics and the financial sector. He was a lead author of the bank's Financial Stability Report, covering the stability of the banking sector. He also worked on secondment at the Bank of Canada in Ottawa. He began his career as a microeconomist, working for a private-sector consultancy, and then as a government antitrust economist at the UK Competition Commission. His academic research has been published in the Journal of Money, Credit and Banking and the Journal of Financial Stability, and he has held a lectureship at Lincoln College, Oxford, where he taught economics.