Faculty Books On "Best of" List for 2023

Written by
Jan. 5, 2024

Two books by JRCPPF faculty members Harold James and Markus Brunnermeier were included on the Financial Times' list of Best Books of 2023 - Economics.

In Seven Crashes: The Economic Crises That Shaped Globalization (Yale University Press) by Harold James looks back at seven economic crises over the past two centuries starting with the 1840's agricultural shocks and subsequent famines, the 1873 financial crisis, the monetary crisis following World War I, the Great Depression of the 1930s, the 1970s super-inflationary period, the 2008-09 Great Financial Crisis, and the Covid-19 supply crisis of 2020-22. Supply shocks, the book argues, increase economic inter-connectedness while demand shocks have an opposite effect. James is the Claude and Lore Kelly Professor in European Studies, and professor of history and international affairs.

Aimed at both policymakers and students, A Crash Course on Crises: Macroeconomic Concepts for Run-ups, Collapses, and Recoveries by Markus Brunnermeier and Ricardo Reis (Princeton University Press), provides an overview of how crises originate, how they are amplified, and how they can be contained. Brunnermeier is the Edwards S. Sanford Professor of Economics at Princeton University and the Director of Princeton’s Bendheim Center for Finance.

Also on the list was Angus Deaton's recent book Economics in America: An Immigrant Economist Explores the Land of Inequality (Princeton University Press). In this book, Deaton, a Nobel prize-winning economist and emeritus professor, uses his personal experience as a lens through which to explore how the discipline has approached critical socioeconomic questions.