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Sandbu, Martin

The Economics of Belonging

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

PRINCETON UNIVERSITY PRESS

    40,95 € / $47.00 / £40.00*

    eBook (PDF)
    Publication Date:
    2020
    Copyright year:
    2020
    To be published:
    May 2020
    ISBN
    978-0-691-20453-6
    See all formats and pricing

    Overview

    Aims and Scope

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

    Fueled 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 polarization 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 globalization 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 globalized 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.

    Details

    18 b/w illus.
    PRINCETON UNIVERSITY PRESS
    Language:
    English
    Keyword(s):
    Cultural Backlash; Pippa Norris; Ronald Inglehart; Whiteshift; Eric Kaufmann; Concrete Economics; Stephen Cohen; J. Bradford Delong; Dani Rodrik; Jon Haidt; The Populist Temptation; Barry Eichengreen; The Left Behind; Robert Wuthnow; populists; Donald Trump; Nigel Farage; Boris Johnson; Brexit; Not Working; David Blanchflower; Deaths of Despair; Anne Case; Angus Deaton; Andrew Yang; Make America Think Harder; A Republic of Equals; Jonathan Rothwell; antiglobalization; industrialization; China Shock; protectionism; tariffs; NAFTA; minimum wage; labor markets; labor productivity; taxing wealth; debt restructuring; not left or right; debt traps; welfare society; rent-seeking; intellectual property; Michael Gove
    Readership:
    Professional and scholarly;College/higher education;

    More ...

    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

    "This book offers a cogent diagnosis of the current deep malaise suffered by advanced economies and societies. I find the arguments persuasive and the use of evidence deft. The breadth of coverage of the problems and cures is impressive for such a concise work. With novel formulations and an innovative stress on the issues, The Economics of Belonging is definitely something I wish I had written."—Richard Baldwin, author of The Globotics Upheaval

    "The Economics of Belonging provides an ambitious explanation for the rise of populism in developed countries, and proposes a political program for how to tackle it. Offering a fresh and stimulating analysis of populism, Sandbu constructs a broad, well-evidenced case that it has economic causes. Fluent and clear, with a new and elegant argument, this book is well-tailored to a global audience."—Stian Westlake, coauthor of Capitalism without Capital

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