Is embracing international trade beneficial for everyone? Do immigrants from poorer nations deprive low-income native workers of job opportunities? Why is inequality on the rise globally? Does redistribution of wealth hinder incentives? Should we be concerned about the impact of artificial intelligence or celebrate its advancements? How can we navigate the delicate balance between economic growth and climate change? Is economic growth in the Western world coming to an end, and should we be concerned?
These critical economic questions represent the great challenge of our era. It surpasses even space travel or finding a cure for cancer, as it revolves around the very essence of the good life and the future of liberal democracy. While we possess the resources to address these issues, we lack the ideas that can bridge the divide of disagreement and mistrust among us. Only if we wholeheartedly engage in this quest, with the collaboration of the world’s best minds working alongside governments and civil society, can we reshape our social programs for both effectiveness and political viability. By doing so, history will remember our era with gratitude.
In their groundbreaking book, esteemed economists from MIT, Abhijit V. Banerjee and Esther Duflo, take on this challenge, building on cutting-edge research in economics and presenting their findings with clarity and elegance. Their work is original, thought-provoking, and urgent, making a compelling case for intelligent interventions that promote a compassionate and respectful society. “Good Economics for Hard Times” is an extraordinary book that will deepen our understanding and appreciation of the intricately balanced world we live in.
