Americans have always fought over the meaning of freedom and equality. What is not commonly recognized is that the battles most pivotal in defining our democracy, from the framing of the Constitution to the decades-long backlash to the civil rights movement, hinged on one issue—taxes.In The Price of Democracy: The Revolutionary Power of Taxation in American History (Basic Books, 2025), Vanessa S. Williamson challenges the myth that Americans are instinctively anti-tax, revealing that fights over taxes have always been proxies for deeper conflicts over who is included in “We the People.” Poorer people have repeatedly built movements that sought to tax all Americans to create a more equal and democratic nation. Wealthy people have responded by constraining the power to tax and stifling democracy through voting restrictions, gerrymandering, and violence. Yet as hard as anti-tax crusaders have fought to create an America that redistributes not from rich to poor, but from non-white people to rich white people, the battle rages on.The Price of Democracy uncovers how fights for fiscal fairness have defined American history, delivering a powerful message to the present: that taxes are the public’s most powerful weapon in the fight for a real democracy. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

It's easy to be pessimistic about inequality. We know it has increased dramatically in many parts of the world over the past two generations. No one has done more to reveal the problem than Thomas Piketty. Now, in this surprising and powerful new work, Piketty reminds us that the grand sweep of history gives us reasons to be optimistic. Over the centuries, he shows, we have been moving toward greater equality. In A Brief History of Equality (Harvard UP, 2022), Piketty guides us with elegance and concision through the great movements that have made the modern world for better and worse: the growth of capitalism, revolutions, imperialism, slavery, wars, and the building of the welfare state. It's a history of violence and social struggle, punctuated by regression and disaster. But through it all, Piketty shows, human societies have moved fitfully toward a more just distribution of income and assets, a reduction of racial and gender inequalities, and greater access to health care, education, and the rights of citizenship. Our rough march forward is political and ideological, an endless fight against injustice. To keep moving, Piketty argues, we need to learn and commit to what works, to institutional, legal, social, fiscal, and educational systems that can make equality a lasting reality. At the same time, we need to resist historical amnesia and the temptations of cultural separatism and intellectual compartmentalization. At stake is the quality of life for billions of people. We know we can do better, Piketty concludes. The past shows us how. The future is up to us. Javier Mejia is a Postdoctoral Research Fellow at the Political Science Department at Stanford University. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

If the 20th Century was the American Century, it was also UPS's Century. Joe Allen's The Package King: A Rank and File History of UPS (‎Haymarket Books, 2020), tears down the Brown Wall surrounding one of America's most admired companies—the United Parcel Service (UPS). The company that we see everyday but know so little about. How did a company that began as a bicycle messenger service in Seattle, Washington become a global behemoth? How did it displace General Motors, the very symbol of American capitalism, to become the largest, private sector, unionized employer in the United States? And, at what cost to its workers and surrounding communities? Will it remain the Package King in the 21st Century or will be dethroned by Amazon? Joe Allen worked for nearly a decade at UPS between its Watertown, Massachusetts and Chicago, Illinois Jefferson Street hubs. Allen's work life has largely involved different sections of freight and logistics including for such major employers as A.P.A Transport (Canton, Mass.), Yellow Freight (Maspeth, NY), and UPS. He has been a member of several Teamster local unions and a member of Teamsters for a Democratic Union. Schneur Zalman Newfield is an Assistant Professor of Sociology at Borough of Manhattan Community College, City University of New York, and the author of Degrees of Separation: Identity Formation While Leaving Ultra-Orthodox Judaism (Temple University Press, 2020). Visit him online at ZalmanNewfield.com. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Alex Imas is the Roger L. and Rachel M. Goetz Professor of Behavioral Science, Economics and Applied AI and a Vasilou Faculty Scholar at the University of Chicago Booth School of Business, where he has taught Negotiations and Behavioral Economics. He is a Faculty Affiliate of the Center for Applied AI and the Human Capital & Economic Opportunity, an NBER Faculty Research Associate, and a CESifo Research Network Fellow. He is also an Associate Editor at the Journal of the European Economic Association and on the editorial board of Psychological Science. Alex studies behavioral economics with a focus on how people understand and mentally represent the choices they are facing. His research explores topics related to how people learn and make choices in settings with risk and uncertainty. He also studies the economics of artificial intelligence and discrimination. Alex’s work utilizes a variety of methods, including controlled laboratory experiments, field experiments, analysis of observational data and theoretical modeling. Alex Imas is the recipient of the 2023 Alfred P. Sloan Research Fellowship, the Review of Financial Studies Rising Scholar Award, the New Investigator Award from the Behavioral Science and Policy Association, the Hillel Einhorn New Investigator Award from the Society of Judgment and Decision Making, the Distinguished CESifo Affiliate Award, and the NSF Graduate Research Fellowship. He is the co-author, with Richard Thaler, of The Winner’s Curse: Behavioral Economics Anomalies, Then and Now (Simon and Schuster, 2025). He is an Associate Editor at the Journal of the European Economic Association and on the editorial board of Psychological Science. Alex was born in Bender, Moldova. Previously, he was the William S. Dietrich II Assistant Professor of Behavioral Economics at Carnegie Mellon University, where he taught Behavioral Economics and Human Judgment and Decision Making. He did his PhD in economics at the University of California, San Diego and earned a BA from Northwestern University. Prior to graduate school, Imas helped found a startup and co-authored several patents as part of its intellectual property strategy. Teaching materials for The Winner’s Curse can be found here. Interviewer Peter Lorentzen is an Associate Professor of Economics at the University of San Francisco, where he leads the Master’s Program in International and Development Economics at the University of San Francisco. He is also a nonresident scholar at the UCSD 21st Century China Center and an alumnus of the Public Intellectuals Program of the National Committee on US-China Relations. His research focuses on the economics of information, incentives, and institutions, primarily as applied to the development and governance of China. He created the unique Master’s of Science in Applied Economics at the University of San Francisco, which teaches the conceptual frameworks and practical data analytics skills needed to succeed in the digital economy. Guest interviewer Robizon Khubulashvili is an Assistant Professor of Economics at the University of San Francisco. His research is at the intersection of theoretical, behavioral, and experimental microeconomics. A common question in his research is, how can we use a user's revealed preferences to improve the performance of online platforms? Robizon has studied this question in two settings: when monetary incentives are missing (an online gaming platform) and when monetary incentives are present (an online gambling platform). His work suggests that heterogeneity among users is an essential consideration in designing better online platforms; that is, a policy benefiting one type of user might harm the other. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

For much of the late 20th century, Japanese business historians were core contributors to the global field. They published, collaborated, and shaped debates. But something shifted after 2000. Their international visibility - and participation in emerging theoretical conversations - declined. In Japan and the Great Divergence in Business History (Donzé & Umemura, 2025), the authors argue that this shift wasn’t due to a lack of scholarship, but a misalignment of frameworks. While business history globally began integrating concepts from management studies, economic sociology, political economy, and comparative capitalism, Japanese scholarship largely remained anchored in the Chandlerian paradigm: rich, rigorous firm-level histories focused on organizational growth, strategies, and industrial evolution. The consequences of this growing distance are not trivial: Fewer Japanese scholars in international research networks Reduced presence in global journals and conferences Limited cross-pollination with adjacent disciplines Underrepresentation in key theoretical debates reshaping business history Donzé, P.-Y., & Umemura, M. (2025). Japan and the Great Divergence in Business History. Journal of Evolutionary Studies in Business. Link here Hosted by Paula de la Cruz-Fernández, on behalf of the Journal of Evolutionary Studies in Business. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In Neoliberalism and Race (Stanford UP, 2025) Lars Cornelissen argues that the category of race constitutes an organizing principle of neoliberal ideology. Using the methods of intellectual history and drawing on insights from critical race studies, Cornelissen explores the various racial constructs that structure neoliberal ideology, some of which are explicit, while others are more coded. Beginning in the interwar period and running through to recent developments, Neoliberalism and Race shows that racial themes have always pervaded neoliberal thinking. The book's key argument is that neoliberal thought is constitutively racialized—its racial motifs cannot be extracted from neoliberalism without rendering it theoretically and politically incoherent. The book aptly explores a wide variety of racial constructs through the structure of neoliberal ideology, deconstructing the conceptualizations in the works of landmark thinkers such as Ludwig von Mises, Friedrich Hayek, Peter Bauer, Thomas Sowell, Charles Murray, and others from the early twentieth century to the present. In this original—perhaps controversial—critique, Cornelissen asserts that neoliberal thinkers were not just the passive recipients of racial discourse, but also directly impacted it. Lars Cornelissen is a historian of neoliberalism. His writings have been published in History of European Ideas, Constellations, and Modern Intellectual History. Morteza Hajizadeh is a Ph.D. graduate in English from the University of Auckland in New Zealand. His research interests are Cultural Studies; Critical Theory; Environmental History; Medieval (Intellectual) History; Gothic Studies; 18th and 19th Century British Literature. YouTube Channel: here Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Peoples & Things host, Lee Vinsel, talks with Colleen Dunlavy, Emeritus Professor of History at University of Wisconsin-Madison, about her recent book, Small, Medium, Large: How Government Made the U.S. Into a Manufacturing Powerhouse. Small, Medium, Large examines the crucial role that the U.S. federal government played in rationalizing and diffusing industrial production standards, which over time greatly increased economies of scale and reduced the cost of both industrial and consumer goods. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Joseph E. Stiglitz has had a remarkable career. He is a brilliant academic, capped by sharing the Nobel Memorial Prize in Economics and the Nobel Peace Prize, and honorary degrees from Harvard, Cambridge, Oxford and more than fifty other universities, and elected not only to the National Academy of Sciences and the American Academy of Arts and Letters but the Royal Society and the British Academy; a public servant, who served as Chair of President Clinton's Council of Economic Advisors and Chief Economist and Senior Vice President of the World Bank, headed international commissions for the UN and France, and was awarded the French Legion of Honor and Australia's Sydney Peace Prize; a public intellectual whose numerous books on vital topics have been best sellers.What brought him to economics were his concerns about the inequality and discrimination he saw growing up. Wanting to understand what drives it and what can be done about it has been his lifelong passion. This book gathers together and extends to new frontiers this lifelong work, drawing upon the challenges and insights of each of these phases of his career.In a still very widely cited paper written fifty years ago, Stiglitz set forth the fundamental framework for analyzing intergenerational transfer of wealth and advantage, which plays a central role in persistent inequality. That and subsequent work, developed most fully here for the first time, described today's inequality as a result of centrifugal forces increasing inequality and centripetal forces reducing it. In recent decades, the centrifugal forces have strengthened, the centripetal forces weakened. His general theory provides a framework for understanding the marked growth in inequality in recent decades, and for devising policies to reduce it.A central message is that ever-increasing inequality is not inevitable. Inequality is, in a fundamental sense, a choice. Stiglitz explains that inequality does not largely arise from differences in savings rates between capitalists and others, though that may play a role (as Piketty, Marx, and Kaldor suggest); but rather, it originates importantly from the rules of the game, which have weakened the bargaining power of workers as they have increased the market power of corporations. He also explains how monetary authorities have contributed to increasing wealth inequality, and how, unless something is done about it, likely changes in technology such as AI and robotization will make matters worse. He describes policies that can simultaneously reduce inequality and improve economic performance. Joseph E. Stiglitz is an American economist and a professor at Columbia University.  Morteza Hajizadeh is a Ph.D. graduate in English from the University of Auckland in New Zealand. His research interests are Cultural Studies; Critical Theory; Environmental History; Medieval (Intellectual) History; Gothic Studies; 18th and 19th Century British Literature. YouTube channel. Twitter. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

The Future of Employment in Africa: Demography, Labor Markets and Welfare explores the major trends that will define the face of the sub-Saharan continent in the next three decades. The near doubling of Africa’s population by 2050 will lead to more than twenty million new job seekers entering the African labor market every year until then. Right now, Africa doesn’t seem able to offer jobs to this many people, resulting in possible unrest and intra-African or intercontinental migration flows, including to Europe. Climate change creates additional migratory pressure as it threatens the future of agriculture and livestock. The author explores the opportunities for increased job creation in Africa. Fortunately, Africa has some major strengths. Africans excel in market-creating innovation: the ability to see market opportunities and innovations that others do not. Many Africans create their own jobs through micro and small enterprises. A young well-trained middle class, familiar with digital technologies, is emerging. Africa’s abundant natural resources attract global powers like China aspiring to secure access to critical raw materials. The author challenges pessimistic message about the continent and provides an optimistic view of Africa’s future. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In The Influence Economy: Decoding Supplier-Induced Demand (Oxford UP, 2025), Maxim Sytch reveals how professional services--consulting, marketing, banking, and legal firms--create demand for unnecessary and potentially harmful products and services. Such supplier-induced demand can take many forms, including superfluous reorganizations, frivolous lawsuits, and ill-conceived acquisitions. These actions may not only fail to produce positive outcomes but can also inflict detrimental consequences on the buying organization, from squandering valuable resources and demotivating the workforce to disrupting business operations and causing various operational, legal, and financial setbacks. Through empirical analyses and interviews with buyers and sellers of professional services, Sytch reveals the conditions under which supplier-induced demand is most likely to occur. The book argues that the conditions that give rise to supplier-induced demand are increasingly characteristic of today's broader knowledge-based economy Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

A series of market-related crises over the past two decades – financial, environmental, health, education, poverty – reinvigorated the debate about markets and social justice. Since then, counter-hegemonic movements all over the globe are attempting to redefine markets and the meaning of economic enterprise in people’s daily lives. Assessments of market outcomes tend toward the polemical, with capitalists and socialists, globalization advocates and anti-globalization movements, those on the political right and those on the left, all facing off to argue the benefits or harms brought about by markets. Yet not enough attention has been paid to analyzing the conditions under which markets result in just outcomes.  Markets, Community and Just Infrastructures (Routledge, 2020) explores how culture, politics, and ideology help shape market incentives in an attempt to reclaim the language of economic rationality and the policymaking legitimacy that accompanies it. Through a variety of case studies – labor relations in the U.S. meatpacking industry, the globalization process in Juaìrez, Mexico, financial reform in Cuba, and an interfaith Ugandan coffee cooperative – this book provides a framework for understanding the conditions under which markets promote just or unjust outcomes (e.g., discrimination, income inequality, environmental degradation, or racial justice, human rights, and equitable growth).  This book touches on subject matter as varied as food, religion, banking, and race and gender equality, from a multi-disciplinary perspective. It offers an analysis of markets based on community rather than pure individualism that has the potential to change the way we think about economic rationality. An accessible and compelling read, this book will appeal to students and scholars in political science, economics, sociology, geography, gender studies, critical race studies, environmental studies, and all those interested in the critique of mainstream economics and neoliberal logic. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

An ecologist in California claimed that the iron laws of nature locked humanity into destroying our environment. This meant that we must take drastic measures to rein in unfettered capitalism and the American habit of overconsumption, lest we deplete our common resources. That argument made Garrett Hardin one of the most influential and celebrated environmentalists to ever live. Yet, he had a tragic view of the world that turned his green dream into a green nightmare. This is the final episode of Cited Podcast’s new season, Green Dreams. Green Dreams tells stories of radical environmental thinkers and their dreams for our green future. Should we make those dreams reality, or are they actually nightmares? For the rest of the episodes, visit the series page, and subscribe today (Apple, Spotify, RSS). There were a number of works that we pulled from to help us understand this story. If you want to learn more about conservative ecological thought, the population panic, and related themes, we recommend that you read: by Richard Hames and Alex Roberts, The Rise of Eco-Fascism: Climate Change and the Far Right; from Jason Oakes, Garret Hardin’s Tragic Sense of Life, a short article on the the ecological models that influenced Hardin; and finally, Thomas Robertson’s excellent survey of the population panic of the mid-60s to late-70s, The Malthusian Moment: Global Population Growth and the Birth of American Environmentalism. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

R. Jisung Park is assistant professor at the University of Pennsylvania, where he holds appointments in the School of Social Policy and Practice and the Wharton School of Business.It’s hard not to feel anxious about the problem of climate change, especially if we think of it as an impending planetary catastrophe. In Slow Burn: The Hidden Costs of a Warming World (Princeton UP, 2025), R. Jisung Park encourages us to view climate change through a different lens: one that focuses less on the possibility of mass climate extinction in a theoretical future, and more on the everyday implications of climate change here and now.Drawing on a wealth of new data and cutting-edge economics, Park shows how climate change headlines often miss some of the most important costs. When wildfires blaze, what happens to people downwind of the smoke? When natural disasters destroy buildings and bridges, what happens to educational outcomes? Park explains how climate change operates as the silent accumulation of a thousand tiny conflagrations: imperceptibly elevated health risks spread across billions of people; pennies off the dollar of productivity; fewer opportunities for upward mobility.By investigating how the physical phenomenon of climate change interacts with social and economic institutions, Park illustrates how climate change already affects everyone, and may act as an amplifier of inequality. Wealthier households and corporations may adapt quickly, but, without targeted interventions, less advantaged communities may not.Viewing climate change as a slow and unequal burn comes with an important silver lining. It puts dollars and cents behind the case for aggressive emissions cuts and helps identify concrete steps that can be taken to better manage its adverse effects. We can begin to overcome our climate anxiety, Park shows us, when we begin to tackle these problems locally. This interview was conducted by Dr. Hannah Pool, a senior researcher at the Max Planck Institute for the Studies of Societies. Her research focuses on human mobilities and her new book has just been published (2025, Oxford University Press). Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Over the last several decades, sources of income derived away from farms have come to play a much bigger role in rural Indonesian households. How do rural people in Indonesia engage with farming and social and economic spheres beyond their villages? What do their changing forms of engagement mean for land relations, sustainability, and the future of agrarian communities? Jeff Neilson’s Fortress Farming: Agrarian Transitions, Livelihoods, and Coffee Value Chains in Indonesia (Cornell UP, 2025) offers an explanation that centers on a defensive livelihood strategy observed among, in particular, coffee producing smallholders. This livelihood strategy, understood as “fortress farming”, is undertaken by smallholder households that are reluctant to maximize production despite their engagement with major coffee roasting companies. Instead, they maintain their small farms to defend themselves from insecurity while pursuing sources of wealth off farm. The book considers the implications of fortress farming for broader structural reforms and illuminates how social institutions shape forms of capitalist agriculture. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Food consumers are demanding a healthier and more sustainable food system. Yet labor is rarely part of the discussion. In Will Work for Food: Labor Across the Food Chain (U California Press, 2025), Laura-Anne Minkoff-Zern and Teresa Mares chronicle labor across the food chain, connecting the entire food system--from fields to stores, restaurants, home kitchens, and even garbage dumps. Using a political economy framework, the authors argue that improving labor standards and building solidarity among frontline workers across sectors is necessary for creating a more just food system. What would it take, they ask, to move toward a food system that is devoid of human exploitation? Combining insights from food systems and labor justice scholarship with actionable recommendations for policy makers, the book is a call to action for labor activists, food studies students and scholars, and anyone interested in food justice. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In No Standard Oil: Managing Abundant Petroleum in a Warming World (Oxford University Press, 2021), Deborah Gordon shows that no two oils or gases are environmentally alike. Each has a distinct, quantifiable climate impact. While all oils and gases pollute, some are much worse for the climate than others. In clear, accessible language, Gordon explains the results of the Oil Climate Index Plus Gas (OCI+), an innovative, open-source model that estimates global oil and gas emissions. Gordon identifies the oils and gases from every region of the globe–– along with the specific production, processing, and refining activities–– that are the most harmful to the planet, and proposes innovative solutions to reduce their climate footprints. Global climate stabilization cannot afford to wait for oil and gas to run out. No Standard Oil shows how we can take immediate, practical steps to cut greenhouse gas emissions in the crucial oil and gas sector while making sustainable progress in transitioning to a carbon-free energy future. Deborah Gordon is a senior principal in the Climate Intelligence Program at RMI where she leads the Oil and Gas Solutions Initiative. Gordon also serves as a senior fellow at the Watson Institute for International and Public Affairs at Brown University and the principal investigator for the Oil Climate Project. Caleb Zakarin is the Assistant Editor of the New Books Network (Twitter: @caleb_zakarin). Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Most economists believe that growth is the surest path to better lives. This has proven to be one of humanity’s most powerful and dangerous ideas. It shapes policy across the globe, but it fatally undermines the natural ecosystems necessary to sustain human life. How did we get here and what might be next?In The Invention of Infinite Growth: How Economists Forgot About the Natural World (Simon and Schuster, 2025), environmental historian Christopher F. Jones takes us through two hundred and fifty years of economic thinking to examine the ideal of growth, its powerful influence, and the crippling burdens many decisions made in its name have placed on us all. Jones argues that the pursuit of growth has never reflected its costs, because economists downplay environmental degradation. What’s worse, skyrocketing inequality and diminishing improvements in most people’s well-being mean growth too often delivers too little for too many. Jones urges economists to engage more broadly with other ways of thinking, as well as with citizens and governments to recognize and slow infinite growth’s impact on the real world. Both accessible and eye-opening, The Invention of Infinite Growth offers hope for the future. Humans have not always believed that economic growth could or should continue, and so it is possible for us to change course. We can still create new ideas about how to promote environmental sustainability, human welfare, and even responsible growth, without killing the planet and ourselves. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Dr. Lily Hseuh is trained as an economist and public policy scholar, and is an associate professor in Economics and Public Policy in the School of Public Affairs, at Arizona State University. Her research bridges the fields of economics, public policy, and management to investigate how the environment and the global commons are managed and the ways in which behaviors of firms and organizations are shaped by multiple forces from markets to government policies. During her tenure at ASU, she has been a two-time recipient of the Distinguished Teaching Award, as well as receiving the Professor of Impact award Her work been featured in major news outlets, including the Financial Times, Fortune, and PBS News Hour, and recently, she was awarded an American Fellowship by the American Association of University Women. She earned her PhD in Public Policy and Management from the University of Washington, and before her just published book, she has been asked to contribute a chapter to a number of other publications and has over 20 peer-reviewed articles in such areas as:  Private And Public Interactions And Global Climate Change, Rights-Based Management And Ocean And Marine Resources, Sustainability And State And Local Governments, Participatory Governance And Social Equity Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Investing in funds is not straightforward. We are faced with a countless range of options and constantly distracted by meaningless noise and turbulent markets. To make matters worse, our flawed beliefs and behavioural biases lead to repeated and costly mistakes, such as a damaging obsession with past performance and a dangerous attraction to thematic funds. There is a solution―a more intelligent way to invest in funds. In The Intelligent Fund Investor: Practical Steps for Better Results in Active and Passive Funds (Harriman House, 2022), experienced portfolio manager and behavioural finance expert Joe Wiggins brings simplicity and clarity to fund investing. Each chapter of this fascinating and highly readable book focuses on a vital element of investing in funds―exploring how and why investors can get it badly wrong, and providing direct, actionable steps for better results. Joe reveals: why we should avoid investing with star managers; how to decide between active and passive funds; why we should beware of smooth performance and captivating stories; why risk is far more than just volatility; the importance of a long time horizon; and much, much more. Using a combination of stories, empirical evidence and experience, Joe gives all fund investors―active and passive―what they need to reassess their beliefs, understand their biases, and make better investment decisions. John Emrich has worked for decades years in corporate finance, business valuation and fund management. He has a podcast about the investment space called Kick the Dogma. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Statistics are everywhere: in news reports, at the doctor's office, and in every sort of forecast, from the stock market to the weather. Blogger, teacher, and computer scientist Allen B. Downey knows well that people have an innate ability both to understand statistics and to be fooled by them. As he makes clear in this accessible introduction to statistical thinking, the stakes are big. Simple misunderstandings have led to incorrect medical prognoses, underestimated the likelihood of large earthquakes, hindered social justice efforts, and resulted in dubious policy decisions. There are right and wrong ways to look at numbers, and Downey will help you see which are which. Probably Overthinking It: How to Use Data to Answer Questions, Avoid Statistical Traps, and Make Better Decisions (University of Chicago Press, 2023) uses real data to delve into real examples with real consequences, drawing on cases from health campaigns, political movements, chess rankings, and more. He lays out common pitfalls--like the base rate fallacy, length-biased sampling, and Simpson's paradox--and shines a light on what we learn when we interpret data correctly, and what goes wrong when we don't. Using data visualizations instead of equations, he builds understanding from the basics to help you recognize errors, whether in your own thinking or in media reports. Even if you have never studied statistics--or if you have and forgot everything you learned--this book will offer new insight into the methods and measurements that help us understand the world. Allen B. Downey is a curriculum designer at the online learning company Brilliant and professor emeritus of computer science at Olin College. Gregory McNiff is a Managing Director in the New York office of the Blueshirt Group, an IR firm focused on technology. Greg holds an MBA from the University of Chicago Booth School of Business, an M. Litt. in Shakespeare Studies from the University of St. Andrews and a B.A. in Classical Languages from Columbia University. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics