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4.22 AVERAGE
4.22 AVERAGE
hopeful
informative
medium-paced
Thanks to Netgalley and Basic Books for providing an advance copy in exchange for an honest review.
Having thoroughly enjoyed The Alternative by Nick Romeo, it has taken me far too long to put my thoughts to paper for the benefit of future readers. First things first. It was music to my ears to have the author emphasise time and time again that economy should not be seen as a science. Not even a dysmal one. As a mathematician working in the finance industry, I similarly feel that this cannot be stressed enough. Sometimes, I feel surrounded by people who think that it is normal to entrust our everyday economic decision making process to a system than can be described purely mathematical formulae. But are then surprised by events which should be occurring according to those same formulae. Economy is not a science. Full stop.
Don't let me be understood. Our current liberal market capitalist system has done a tremendous job in solving the puzzle of connecting a society of consumers with producers providing the former with products and services they deem to be of value, whilst optimizing for capital (the name says it all), thus removing the need for a single decision maker. It is a form of economic Darwinism where we as a society constantly innovate, try and test whether something makes money or not. We no longer need an ultimate decision maker when we are ourselves in aggregate all the arbiter of our system as we input our own prices and this price information flows through the system. The result is an intricate system of quoted prices which clears supply with demand.
But this beautiful system has its flaws too as the author explains in this book. The foundation upon which are society is based has started to wobble - the message the cover seems to be conveying - with widening inequality, environmental destruction, and millions of workers stuck in precarious, soul destroying jobs. The author runs through each of the abovementioned problems providing solutions as he progresses.
So why my 4 stars? I'll need to revisit this book in the future to think and rethinkthe solutions the author has provided. I'm not yet convinced that the problems described can be solved by just small adjustments which the author proposes. The suggestions are usually illustrated with successful real-life examples. But just running through the proposals reaps a deeper understanding of the underlying problem.
I'm very happy to recommend this book as a requisite to understanding the limitations that our system has.
#TheAlternative #NetGalley
Having thoroughly enjoyed The Alternative by Nick Romeo, it has taken me far too long to put my thoughts to paper for the benefit of future readers. First things first. It was music to my ears to have the author emphasise time and time again that economy should not be seen as a science. Not even a dysmal one. As a mathematician working in the finance industry, I similarly feel that this cannot be stressed enough. Sometimes, I feel surrounded by people who think that it is normal to entrust our everyday economic decision making process to a system than can be described purely mathematical formulae. But are then surprised by events which should be occurring according to those same formulae. Economy is not a science. Full stop.
Don't let me be understood. Our current liberal market capitalist system has done a tremendous job in solving the puzzle of connecting a society of consumers with producers providing the former with products and services they deem to be of value, whilst optimizing for capital (the name says it all), thus removing the need for a single decision maker. It is a form of economic Darwinism where we as a society constantly innovate, try and test whether something makes money or not. We no longer need an ultimate decision maker when we are ourselves in aggregate all the arbiter of our system as we input our own prices and this price information flows through the system. The result is an intricate system of quoted prices which clears supply with demand.
But this beautiful system has its flaws too as the author explains in this book. The foundation upon which are society is based has started to wobble - the message the cover seems to be conveying - with widening inequality, environmental destruction, and millions of workers stuck in precarious, soul destroying jobs. The author runs through each of the abovementioned problems providing solutions as he progresses.
So why my 4 stars? I'll need to revisit this book in the future to think and rethinkthe solutions the author has provided. I'm not yet convinced that the problems described can be solved by just small adjustments which the author proposes. The suggestions are usually illustrated with successful real-life examples. But just running through the proposals reaps a deeper understanding of the underlying problem.
I'm very happy to recommend this book as a requisite to understanding the limitations that our system has.
#TheAlternative #NetGalley
hopeful
informative
inspiring
reflective
medium-paced
Really interesting ideas about how economies can be improved. I really liked that part related to a national gig economy platform which seems like a great idea.
stopped reading at 42%. there’s nothing wrong with it, and it’s actually pretty good, but my brain can only handle so much economics I’m finding. I’ll pick this up again later.
informative
reflective
medium-paced
YESSSS read this!! If you believe we are in a planetary crisis, you may also believe our existing economic system is unquestionably failing us. And yet, “The strongest evidence that alternative arrangements are viable is to show that they already exist.” This book provides a beautifully well-researched overview of ideas like job guarantees, employee ownership, true pricing, participatory and climate budgeting, cooperative takeovers, purpose trusts, pervasiveness of neoliberal economics education amounting to propaganda, a National Investment Authority, and more…all of which EXIST today and are expanding around the world and already making it a better place.
“Future generations may regard economic systems that do not reflect the true price of goods—including their impacts on workers, the natural world, and future generations—as in controversially wrong, just as we regard the institution of slavery today.”
The book acknowledges that no policy on its own is a comprehensive solution to the economic, political, social, and climate problems we face. But “the fact that life and culture are already quite different in some of the places where only a few of these initiatives exist suggests the potential for deep transformation even if three or four were broadly adopted in the same region and could work in synergy.” We’re talking SYSTEMS CHANGE!!!
Loved this & recommend it to all.
“Future generations may regard economic systems that do not reflect the true price of goods—including their impacts on workers, the natural world, and future generations—as in controversially wrong, just as we regard the institution of slavery today.”
The book acknowledges that no policy on its own is a comprehensive solution to the economic, political, social, and climate problems we face. But “the fact that life and culture are already quite different in some of the places where only a few of these initiatives exist suggests the potential for deep transformation even if three or four were broadly adopted in the same region and could work in synergy.” We’re talking SYSTEMS CHANGE!!!
Loved this & recommend it to all.
A great read to give one hope that we can build a fairer and just economy. Giving positive examples from around the world, Romeo shows that it is possible. We just need the political will to make it happen.
hopeful
informative
inspiring
reflective
medium-paced
It doesn’t have to be this way and how our economy is currently is not inevitable
Profiles current solutions that is implemented more widely could make things a lot more equitable
We can have nice things!
Profiles current solutions that is implemented more widely could make things a lot more equitable
We can have nice things!