Description: Cogs and Monsters : What Economics Is, and What It Should Be, Paperback by Coyle, Diane, ISBN 0691231044, ISBN-13 9780691231044, Brand New, Free shipping in the US How economics needs to change to keep pace with the twenty-first century and the economy technology, big data, big tech, machine learning, and AI are revolutionizing both the tools of economics and the phenomena it seeks to measure, understand, and shape. In Cogs and Monsters, Diane Coyle explores the enormous problems—but also opportunities—facing economics today and examines what it must do to help policymakers solve the world’s crises, from pandemic recovery and inequality to slow growth and the climate emergency. Mainstream economics, Coyle says, still assumes people are “cogs”—self-interested, calculating, independent agents interacting in defined contexts. But the economy is much more characterized by “monsters”—untethered, snowballing, and socially influenced unknowns. What is worse, by treating people as cogs, economics is creating its own monsters, leaving itself without the tools to understand the new problems it faces. In response, Coyle asks whether economic individualism is still valid in the economy, whether we need to measure growth and progress in new ways, and whether economics can ever be objective, since it influences what it analyzes. Just as important, the discipline needs to correct its striking lack of diversity and inclusion if it is to be able to offer new solutions to new problems. Filled with original insights, Cogs and Monsters offers a road map for how economics can adapt to the rewiring of society, including by technologies, and realize its potential to play a hugely positive role in the twenty-first century.
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Book Title: Cogs and Monsters : What Economics Is, and What It Should Be
Number of Pages: 272 Pages
Language: English
Publisher: Princeton University Press
Publication Year: 2023
Item Height: 0.8 in
Topic: Political Economy, Public Affairs & Administration, Public Finance, Economics / General, Public Policy / Economic Policy
Illustrator: Yes
Genre: Political Science, Business & Economics
Item Weight: 13.1 Oz
Item Length: 8.5 in
Author: Diane Coyle
Item Width: 5.5 in
Format: Trade Paperback
