The Economics of Belonging: A Radical Plan to Win Back the Left Behind and Achieve Prosperity for All...

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Martin Sandbu

The Economics of Belonging

A Radical Plan to Win Back the Left Behind and Achieve Prosperity for All

Martin Sandbu

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English

Princeton University Press
16 June 2020

Central government policies; Economic theory & philosophy; Political economy

A radical new approach to economic policy that addresses the symptoms and causes of inequality in Western society today

Fuelled by populism and the frustrations of the disenfranchised, the past few years have witnessed the widespread rejection of the economic and political order that Western countries built up after 1945. Political debates have turned into violent clashes between those who want to 'take their country back' and those viewed as defending an elitist, broken, and unpatriotic social contract. There seems to be an increasing polarisation of values. The Economics of Belonging argues that we should step back and take a fresh look at the root causes of our current challenges. In this original, engaging book, Martin Sandbu argues that economics remains at the heart of our widening inequality and it is only by focusing on the right policies that we can address it. He proposes a detailed, radical plan for creating a just economy where everyone can belong.

Sandbu demonstrates that the rising numbers of the left behind are not due to globalisation gone too far. Rather, technological change and flawed but avoidable domestic policies have eroded the foundations of an economy in which everyone can participate — and would have done so even with a much less globalised economy. Sandbu contends that we have to double down on economic openness while pursuing dramatic reforms involving productivity, regional development, support for small- and medium-sized businesses, and increased worker representation. He discusses how a more active macroeconomic policy, education for all, universal basic income, and better taxation of capital could work together for society's benefit.

Offering real answers, not invective, for facing our most serious political issues, The Economics of Belonging shows how a better economic system can work for all.

'The real argument of the book comes in the second half, namely that a set of radical but feasible policies holds the solution to inequality. And, if they were implemented, Sandbu eloquently argues, more globalisation would benefit all and defang populist polarisation.' — Diane Coyle, Financial Times

By: Martin Sandbu
Imprint: Princeton University Press
Country of Publication: United States
Dimensions: Height: 216mm, Width: 140mm,
ISBN: 9780691204529
ISBN 10: 0691204527
Pages: 296
Publication Date: 16 June 2020
Audience: General/trade , Professional and scholarly , ELT Advanced , Undergraduate
Format: Hardback
Publisher's Status: Active

Martin Sandbu has been writing about economics for the Financial Times since 2009. Having started out as the newspaper’s economics leader writer, he is currently FT’s European economics commentator and writes its Free Lunch premium economics newsletter. Previously, he was a senior research fellow at the Zicklin Center for Business Ethics Research at the Wharton School of the University of Pennsylvania. His books include Just Business and Europe’s Orphan (Princeton). Twitter @MESandbu

Reviews for The Economics of Belonging: A Radical Plan to Win Back the Left Behind and Achieve Prosperity for All

The real argument of the book comes in the second half, namely that a set of radical but feasible policies holds the solution to inequality. And, if they were implemented, Sandbu eloquently argues, more globalisation would benefit all and defang populist polarisation. ---Diane Coyle, Financial Times [A] brilliant, if sometimes controversial, exposition of what ails our economies and political systems. ---Chris Johns, Irish Times