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Extreme Economies

Survival, Failure, Future - Lessons from the World's Limits

Richard Davies



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05 September 2019
Political structure & processes; Economics & Business; International economics; Urban economics; Human geography
*Winner of the Enlightened Economist Prize 2019* *Winner of Debut Writer of the Year at the Edward Stanford Travel Writing Awards 2020* *Longlisted for the Financial Times & McKinsey Business Book of the Year Award 2019*'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:   Bantam
Country of Publication:   United Kingdom
Dimensions:   Height: 240mm,  Width: 162mm,  Spine: 38mm
Weight:   665g
ISBN:   9781787631991
ISBN 10:   1787631990
Pages:   416
Publication Date:   05 September 2019
Audience:   College/higher education ,  Professional and scholarly ,  Primary ,  Undergraduate
Format:   Hardback
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 economic adviser to the Chancellor of the Exchequer and 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) and his articles have featured in 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. Richard has published widely on economics. In addition to The Economist he has written for The Times, Sunday Times and 1843 Magazine. He was the editor of The Economist's guide to economics (Profile, 2015), and has published numerous articles and research papers.

Reviews for Extreme Economies: Survival, Failure, Future - Lessons from the World's Limits

Engagingly written and genuinely interesting... fascinating reportage. Davies dives into corners of the world you don't hear much about and conveys, briefly and clearly, how they work. Simultaneously entertaining, informative and balanced. * New York Times * We can't forecast the coming decades, but it is enlightening to look at extreme economies for clues what we may be in store for. Davies book is fascinating. Richard Davies obviously made the kind of road trip many of us only dream of to write Extreme Economies. I tore through it. An economist who can write so well while at the same time explaining the economic principles so clearly is always a joy. * Diane Coyle, Bennett Professor of Public Policy at the University of Cambridge * A must read for anyone feeling desperate about the state of world affairs today, Extreme Economies demonstrates with vivid clarity and humanity how those in the most challenging situations can prosper. Many economists are quite narrow in their thinking about life's challenges, this book beautifully demonstrates why the world's most interesting places force us to think more openly. Breathtaking. An entertaining, fascinating, important reminder of the power of economics to shape all of our lives. * Ed Conway, Economics Editor of Sky News * 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 * A fascinating book on economics in extremes. What happens when things go really wrong or are really different. -- Martin Wolf * Financial Times * Accessible and original. The author draws on sociology and anthropology and the simple power of observation and conversation to bring economics alive. -- Vince Cable * New Statesman Books of the Year * 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 * As a discussion of the strengths and weaknesses of markets versus planned economies, Extreme Economies is one of the most subtle and surprising I have read. -- Tim Harford * Financial Times * 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 * 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 * An exploration of the lessons to be drawn from disaster-stricken economies and imperilled (but innovative) people, which ranges from the jungles of Panama to post-tsunami Indonesia to the prison system of Louisiana and Syrian refugee camps. * The Economist - Books of the Year 2019 * Davies visits economies pushed to the limit and examines what their response teaches us about resilience in the face of climate change, demographic shifts and state failure. * Financial Times * 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 *

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