Book Bits | 20 May 2017

Who Stole Our Market Economy?: The Desperate Need For Socioeconomic Progress
By A. Coskun Samli
Summary via publisher (Palgrave Macmillan)
This book discusses the current landscape of our market economy, which is in the hands of financiers and billionaires who decrease competition as well as consumer power. In order for society to fully thrive and provide its members higher living standards and quality of life, it must distribute and deliver the fruits of the economic activity without discrimination and favoritism. This book exposes the real problem of economic inequality, poverty, and the elimination of the middle class and argues for a progressive market economy in the face of regressive conservatism. The author warns of business failures, rigid and unrealistic laws, widespread unemployment, and class warfare without a fair, functional system.
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US Business Cycle Risk Report | 19 May 2017

Political uncertainty for the US is on the rise, but economic risk remains low. The turmoil surrounding President Donald Trump raises questions about the viability of his administration’s pro-growth policy agenda. Nonetheless, it’s debatable if the economy is vulnerable due to elevated political risk, in part because there’s no sign of macro stress based on the numbers published to date.
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Mixed Messages In Treasury Market For Rate Outlook

Judging by futures prices, the market’s expecting that the Federal Reserve will raise interest rates again at next month’s monetary policy meeting. That’s also the implied outlook in the 2-year yield (considered to be the most-sensitive spot on the yield curve for rate expectations), which is close to a post-recession high. But the Treasury market’s softer inflation forecasts still leave room for debate about what comes next.
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Book Bits | 13 May 2017

Cents and Sensibility: What Economics Can Learn from the Humanities
By Gary Saul Morson and Morton Schapiro
Summary via publisher (Princeton University Press)
Economists often act as if their methods explain all human behavior. But in Cents and Sensibility, an eminent literary critic and a leading economist make the case that the humanities, especially the study of literature, offer economists ways to make their models more realistic, their predictions more accurate, and their policies more effective and just. Gary Saul Morson and Morton Schapiro trace the connection between Adam Smith’s great classic, The Wealth of Nations, and his less celebrated book on The Theory of Moral Sentiments, and contend that a few decades later Jane Austen invented her groundbreaking method of novelistic narration in order to give life to the empathy that Smith believed essential to humanity.

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