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Blink 3 of 8 - The 5 AM Club
by Robin Sharma
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Good Economics for Hard Times summary
Abhijit V. Banerjee
Esther Duflo
Better Answers to Our Biggest Problems
30 mins
Brief summary
Good Economics for Hard Times by Abhijit V. Banerjee & Esther Duflo is an insightful look at the biggest challenges of our times - immigration, inequality, and economic growth. Using real-life examples and economic analysis, the book provides innovative and practical solutions for policymakers and citizens alike.
Table of Contents
Good Economics for Hard Times
Summary of 11 key ideas
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Key idea 1 of 11
Economists can help us solve the world’s gravest problems – but they first have to gain our trust.
In a public poll about how much people trust the opinions of different professionals, nurses ranked the highest and politicians, perhaps unsurprisingly, the lowest. What might be surprising is that economists were ranked only slightly above politicians. Their opinions were seen as being very unreliable.
But why? Perhaps because the vocal economists we see on the news are not the most trustworthy. Often, they are actually employed by a company and have a very pointed agenda toward protecting market interests.
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Key ideas in Good Economics for Hard Times
Introduction
- 1
Economists can help us solve the world’s gravest problems – but they first have to gain our trust.
- 2
Politicians mislead voters with lies about immigration.
- 3
Immigration helps to boost the local economy and provides new opportunities for native workers.
- 4
Goods move freely in global trade agreements, but people and money don’t.
- 5
Trade agreements can harm local workers, but protectionist tariffs won’t solve the problem.
- 6
The fight against climate change can’t be separated from the fight against economic inequality.
- 7
AI is evolving to take over more complex human tasks, negatively affecting the job market.
- 8
Economic inequality long preceded intelligent robots.
- 9
Proper taxing can help to solve economic inequality.
- 10
There is no one-size-fits-all way to alleviate poverty, but foregrounding the dignity of the poor is essential.
- 11
To fix the political polarization and prejudice eroding democracy, we have to listen to each other.
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What is Good Economics for Hard Times about?
Good Economics for Hard Times (2019) unflinchingly examines some of the most seemingly intractable problems we’re confronting today. Abhijit V. Banerjee and Esther Duflo argue that economics can provide new perspectives on how to solve climate change without hurting the poor, and also tackle social problems caused by rising inequality, global trade, and fear of immigration.
Good Economics for Hard Times Review
Good Economics for Hard Times (2019) provides a fresh and thought-provoking perspective on the pressing economic challenges of our time. Here's why this book is worth reading:
- It offers practical solutions backed by rigorous research, giving readers valuable insights into how to navigate difficult economic situations.
- Through engaging case studies and data-driven analysis, the book demonstrates the impact of policy choices on real people's lives, making it highly relevant and compelling.
- The authors' clear and accessible explanations of complex economic concepts ensure that the book is never dry or boring, making the subject matter engaging for readers of all backgrounds.
Who should read Good Economics for Hard Times?
- People who want to regain their faith in the usefulness of economics
- Environmentalists who want a new perspective on how to save the planet
- Workers who are worried about how immigration and trade will affect their jobs
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Good Economics for Hard Times FAQs
What is the main message of Good Economics for Hard Times?
The main message of Good Economics for Hard Times is that economic solutions should be based on empirical evidence and a deep understanding of human behavior.
How long does it take to read Good Economics for Hard Times?
The reading time for Good Economics for Hard Times varies depending on the reader, but it takes several hours. The Blinkist summary can be read in just 15 minutes.
Is Good Economics for Hard Times a good book? Is it worth reading?
Good Economics for Hard Times is a must-read. It provides insightful analysis, backed by rigorous research, on pressing economic issues faced by society.
Who is the author of Good Economics for Hard Times?
The authors of Good Economics for Hard Times are Abhijit V. Banerjee and Esther Duflo.
What to read after Good Economics for Hard Times?
If you're wondering what to read next after Good Economics for Hard Times, here are some recommendations we suggest:
- Doughnut Economics by Kate Raworth
- Economics: The User’s Guide by Ha-Joon Chang
- Economics for the Common Good by Jean Tirole
- Basic Economics by Thomas Sowell
- The End of Poverty by Jeffrey Sachs
- 23 Things They Don’t Tell You About Capitalism by Ha-Joon Chang
- Economic Facts and Fallacies by Thomas Sowell
- Brag Better by Meredith Fineman
- Trust Yourself by Melody Wilding
- Rich Dad, Poor Dad by Robert T. Kiyosaki
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