Friday, January 5, 2024

Economics in America by Angus Deaton

Of course this one was picked because it is written by a Nobel prize winner.

But this is less about the Economics and more about the Economist. The people who explore the ideas behind Economics. As usual there is no strong consensus among the specialists about the best economic policy which depends on various ideas and preferences. Surprising thing is to know that the Economists don't have a lot of influence on policy making because policy has become an agenda and not a tool to identify the best framework, and work on it for the maximum benefit to the general public.

This is an honest book from an insider which has some really funny anecdotes but on a serious note it shows the limitation and flaws of how the practical economics is not coming from the right person but from the ones who are answerable to a small and powerful lobby.

Worth a read even if you're not into economics.

Peace

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