Debunking Economics - the podcast

Books for the Holidays

Dec 27, 2023

The podcast discusses book recommendations for the holiday season, including a book on the history of double entry bookkeeping. It explores the concept of complexity using the example of a pile of sand falling. The discussion covers books on Greek debt, the EU, climate science, and the impact on GDP. It also explores the effects of global warming in far North Queensland. The chapter highlights the importance of funding innovation and recommends reading two books on the topic. It discusses the influence of individuals on the financial system and recommends books by Anne Pettifor to understand the causes of the financial crisis.

33:56

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Quick takeaways

'Double Entry' by Jane Gleason-White is a beautifully written book that explores the evolution of double-entry bookkeeping and its significance in understanding the economy.

'Can It Happen Again?' by Hyman Minsky consists of about twenty well-written short essays that provide insights into his approach to economics and instability in finance.

Deep dives

Book Recommendations for the Holiday Season

Looking for some books to read during the holiday season? In this podcast, Steve Keen and Phil Dobby share their recommendations for books on various topics. They suggest books like 'Double Entry' by Jane Gleason-White, which explores the history of double entry bookkeeping and its importance in understanding the economy. They also mention 'The Economic Naturalist' by Robert Frank, a book that examines everyday phenomena from an economic perspective. Other recommendations include 'How Nature Works' by Per Bak, which delves into the concept of complexity, and '23 Things They Don't Tell You About Capitalism' by Ha-Joon Chang, which challenges common myths about capitalism. They also suggest 'Can It Happen Again?' by Hyman Minsky, a book that sheds light on the nature of financial instability. The podcast episode concludes with recommendations for non-fiction books like 'Talking to My Daughter About the Economy' by Yanis Varoufakis, and 'Six Degrees' by Mark Lynas, which discusses the potential consequences of global warming. They wrap up the episode by recommending 'The Hitchhiker's Guide to the Galaxy' by Douglas Adams for a dose of humor and escapism.

Introduction

3min

Books for Understanding Complexity

14min

Discussion on 'Adults in the Room' and 'Six Degrees of Climate Emergency'

3min

Climate Change in Far North Queensland and Public versus Private Sectors

2min

Funding Innovation and Reading Recommendations

8min

The Impact of Individuals on the Global Financial System

4min

Our podcast listeners often ask which economics books they should read to get up to speed on some of the discussions we have, and to understand more about the way the economy really works. This week, for those with a wad of book tokens gifted to them at Christmas, we look at a selection that are worth getting stuck into over the holiday period including:

Gleeson-White, J. (2011). Double Entry. Sydney, Allen and Unwin. https://www.janegleesonwhite.com/double. A beautifully written exposition of the evolution of double-entry bookkeeping.
Bak, P. (1996). How nature works: the science of self-organized criticality. New York, Springer. https://link.springer.com/book/10.1007/978-1-4757-5426-1. An accessible explanation of a complex subject.
Minsky, H. P. (1982). Can "it" happen again? : essays on instability and finance. Armonk, N.Y., M.E. Sharpe. Can It Happen Again? | Essays on Instability and Finance | Hyman Minsk (taylorfrancis.com). About twenty very well written short essays by Minsky that explain his approach to economics. Much better than either of his books.
Lynas, M. (2020). Our Final Warning: Six Degrees of Climate Emergency. London, HarperCollins Publishers. https://www.amazon.co.uk/Our-Final-Warning-Degrees-Emergency-ebook/dp/B07YN9WSN8/. The best read on what climate change will actually mean.
Adams, D. (2003). The Hitchhiker's Guide to the Galaxy: The Original Radio Scripts. additional material by M. J. Simpson. (25th Anniversary ed.). London, Pan Books. https://www.amazon.co.uk/Original-Hitchhikers-Guide-Galaxy-Scripts/dp/1529034477. An antidote to reality.

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