Extreme Economies

Survival, Failure, Future – Lessons from the World’s Limits

Richard Davies

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English

Black Swan
16 September 2020

Political structure & processes; Economics & Business; International economics; Urban economics; Human geography

Inspiring and thought-provoking, Extreme Economies is filled with lively stories about human experience at society's limits, and what it can teach us about our future.
*Winner of the Enlightened Economist Prize 2019
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*Winner of Debut Writer of the Year at the Edward Stanford Travel Writing Awards 2020
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*Longlisted for the Financial Times & McKinsey Business Book of the Year Award 2019
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'Extreme Economies is a revelation - and a must-read.' Andy Haldane, Chief Economist at the Bank of England

To understand how humans react and adapt to economic change we need to study people who live in harsh environments. From death-row prisoners trading in institutions where money is banned to flourishing entrepreneurs in the world's largest refugee camp, from the unrealised potential of cities like Kinshasa to the hyper-modern economy of Estonia, every life in this book has been hit by a seismic shock, violently broken or changed in some way.

In his quest for a purer view of how economies succeed and fail, Richard Davies takes the reader off the beaten path to places where part of the economy has been repressed, removed, destroyed or turbocharged. He tells the personal stories of humans living in these extreme situations, and of the financial infrastructure they create. Far from the familiar stock reports, housing crises, or banking scandals of the financial pages, Extreme Economies reveals the importance of human and social capital, and in so doing tells small stories that shed light on today's biggest economic questions.

'A highly original approach to understanding what really makes economies tick.' Mervyn King, former Governor of the Bank of England

By: Richard Davies
Imprint: Black Swan
Country of Publication: United Kingdom
Dimensions: Height: 198mm, Width: 127mm, Spine: 26mm
Weight: 294g
ISBN: 9781784163259
ISBN 10: 1784163252
Pages: 416
Publication Date: 16 September 2020
Audience: Professional and scholarly , College/higher education , General/trade , Undergraduate , Primary
Format: Paperback
Publisher's Status: Active

RICHARD DAVIES is an economist based in London. He is a fellow at the London School of Economics, and has held senior posts in economic policymaking and journalism. He has been Chair of the Council of Economic Advisers at HM Treasury, an economist and speechwriter at the Bank of England, and economics editor of The Economist. Richard has published widely on economics. He was the editor of The Economist's recent guide to economics (Profile, 2015; CITIC 2018) and his articles have featured in The Guardian, The Sunday Times, The Times and 1843 Magazine. He is the author of numerous research papers and is a founding trustee of CORE, a charity which provides open-access resources for economics teachers and students in universities across the world.

Reviews for Extreme Economies: Survival, Failure, Future – Lessons from the World’s Limits

A highly original approach to understanding what really makes economies tick. Both insightful and accessible to non-economists. * Mervyn King, former Governor of the Bank of England * We learn most about ourselves at times of extreme stress and challenge. Using nine compelling country case studies, Richard Davies brilliantly demonstrates that the same is true of our economic systems. In its approach and insights, Extreme Economies is a revelation - and a must-read. * Andy Haldane, Chief Economist at the Bank of England * Richard Davies balances economics with art, exposing the trade-offs made by people living today and forcing us to question the outcomes of our decisions. * Will Page, Chief Economist at Spotify * Extreme Economies makes sense of the forces shaping the future. Taken together, the books nine deep dives are a much needed reminder that an economy is not what happens when equations interact with data. An economy is what happens when people -- real people, people with names -- interact with people. Anyone who wants to learn economics, is learning economics, or pretends to know some economics should read this book. * Paul Romer, winner of the 2018 Nobel Prize in Economic Sciences * Exciting to see economics strike out into the real world showing how trauma and chaos can yield raw truths about markets, monopolies and the state. * Simon Jenkins *