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Tyler Cowen shows that our super networked world is changing the way we think and empowering us to thrive in new ways. He shows you how to manage the massive daily flow of data better, no matter how adept you may already be at Facebooking, watching television, or studying for that test.
"Will change the way you think about thinking. " -Daniel H. Pink, author of A Whole New Mind Renowned behavioral economist and commentator Tyler Cowen shows that our supernetworked world is changing the way we think-and empowering us to thrive in any economic climate. Whether it is micro-blogging on Twitter or buying single songs at iTunes, we can now customize our lives to shape our own specific needs. In other words, we can create our own economy-and live smarter, happier, fuller lives. At a time when apocalyptic thinking has become all too common, Cowen offers a much- needed information age manifesto that will resonate with readers of Dan Ariely's Predictably Irrational, Steven Johnson's Everything Bad is Good for You, and everyone hungry to understand our potential to withstand, and even thrive, in any economic climate. .
Widely acclaimed as one of the world's most influential economists, Tyler Cowen returns with his groundbreaking follow-up to the New York Times bestseller The Great Stagnation. The widening gap between rich and poor means dealing with one big, uncomfortable truth: If you're not at the top, you're at the bottom. The global labor market is changing radically thanks to growth at the high end-and the low. About three quarters of the jobs created in the United States since the great recession pay only a bit more than minimum wage. Still, the United States has more millionaires and billionaires than any country ever, and we continue to mint them. In this eye-opening book, renowned economist and bestselling author Tyler Cowen explains that phenomenon: High earners are taking ever more advantage of machine intelligence in data analysis and achieving ever-better results. Meanwhile, low earners who haven't committed to learning, to making the most of new technologies, have poor prospects. Nearly every business sector relies less and less on manual labor, and this fact is forever changing the world of work and wages. A steady, secure life somewhere in the middle-average-is over. With The Great Stagnation, Cowen explained why median wages stagnated over the last four decades; in Average Is Over he reveals the essential nature of the new economy, identifies the best path forward for workers and entrepreneurs, and provides readers with actionable advice to make the most of the new economic landscape. It is a challenging and sober must-read but ultimately exciting, good news. In debates about our nation's economic future, it will be impossible to ignore. .
A Frenchman rents a Hollywood movie. A Thai schoolgirl mimics Madonna. Saddam Hussein chooses Frank Sinatra's "My Way" as the theme song for his fifty-fourth birthday. It is a commonplace that globalization is subverting local culture. But is it helping as much as it hurts? In this strikingly original treatment of a fiercely debated issue, Tyler Cowen makes a bold new case for a more sympathetic understanding of cross-cultural trade. Creative Destruction brings not stale suppositions but an economist's eye to bear on an age-old question: Are market exchange and aesthetic quality friends or foes? On the whole, argues Cowen in clear and vigorous prose, they are friends. Cultural "destruction" breeds not artistic demise but diversity.Through an array of colorful examples from the areas where globalization's critics have been most vocal, Cowen asks what happens when cultures collide through trade, whether technology destroys native arts, why (and whether) Hollywood movies rule the world, whether "globalized" culture is dumbing down societies everywhere, and if national cultures matter at all. Scrutinizing such manifestations of "indigenous" culture as the steel band ensembles of Trinidad, Indian handweaving, and music from Zaire, Cowen finds that they are more vibrant than ever--thanks largely to cross-cultural trade.For all the pressures that market forces exert on individual cultures, diversity typically increases within society, even when cultures become more like each other. Trade enhances the range of individual choice, yielding forms of expression within cultures that flower as never before. While some see cultural decline as a half-empty glass, Cowen sees it as a glass half-full with the stirrings of cultural brilliance. Not all readers will agree, but all will want a say in the debate this exceptional book will stir.
A Frenchman rents a Hollywood movie. A Thai schoolgirl mimics Madonna. Saddam Hussein chooses Frank Sinatra's "My Way" as the theme song for his fifty-fourth birthday. It is a commonplace that globalization is subverting local culture. But is it helping as much as it hurts? In this strikingly original treatment of a fiercely debated issue, Tyler Cowen makes a bold new case for a more sympathetic understanding of cross-cultural trade. Creative Destruction brings not stale suppositions but an economist's eye to bear on an age-old question: Are market exchange and aesthetic quality friends or foes? On the whole, argues Cowen in clear and vigorous prose, they are friends. Cultural "destruction" breeds not artistic demise but diversity. Through an array of colorful examples from the areas where globalization's critics have been most vocal, Cowen asks what happens when cultures collide through trade, whether technology destroys native arts, why (and whether) Hollywood movies rule the world, whether "globalized" culture is dumbing down societies everywhere, and if national cultures matter at all. Scrutinizing such manifestations of "indigenous" culture as the steel band ensembles of Trinidad, Indian hand weaving, and music from Zaire, Cowen finds that they are more vibrant than ever- thanks largely to cross-cultural trade. For all the pressures that market forces exert on individual cultures, diversity typically increases within society, even when cultures become more like each other. Trade enhances the range of individual choice, yielding forms of expression within cultures that flower as never before. While some see cultural decline as a half-empty glass, Cowen sees it as a glass half-full with the stirrings of cultural brilliance. Not all readers will agree, but all will want a say in the debate this exceptional book will stir.
Read Tyler Cowen's posts on the Penguin Blog. In Discover Your Inner Economist one of America's most respected economists presents a quirky, incisive romp through everyday life that reveals how you can turn economic reasoning to your advantage--often when you least expect it to be relevant. Like no other economist, Tyler Cowen shows how economic notions--such as incentives, signals, and markets-- apply far more widely than merely to the decisions of social planners, governments, and big business. What does economic theory say about ordering from a menu? Or attracting the right mate? Or controlling people who talk too much in meetings? Or dealing with your dentist? With a wryly amusing voice, in chapters such as "How to Control the World, The Basics" and "How to Control the World, Knowing When to Stop" Cowen reveals the hidden economic patterns behind everyday situations so you can get more of what you really want. Readers will also gain less selfish insights into how to be a good partner, neighbor and even citizen of the world. For instance, what is the best way to give to charity? The chapter title "How to Save the World--More Christmas Presents Won't Help" makes a point that is every bit as personal as it is global. Incentives are at the core of an economic approach to the world, but they don't just come in cash. In fact, money can be a disincentive. Cowen shows why, for example, it doesn't work to pay your kids to do the dishes. Other kinds of incentives--like making sure family members know they will be admired if they respect you--can work. Another non- monetary incentive? Try having everyone stand up in your next meeting if you don't want anyone to drone on. Deeply felt incentives like pride in one's work or a passing smile from a loved one, can be the most powerful of all, even while they operate alongside more mundane rewards such as money and free food. Discover Your Inner Economist is an introduction to the science of economics that shows it to be built on notions that are already within all of us. While the implications of those ideas lead to Cowen's often counterintuitive advice, their wisdom is presented in ordinary examples taken from home life, work life, and even vacation life... How do you get a good guide in a Moroccan bazaar? Read Tyler Cowen's posts on the Penguin Blog. .
Discover Your Inner Economist: Use Incentives to Fall in Love, Survive Your Next Meeting, and Motivate Your Dentistby Tyler Cowen
Freakonomics revealed much about our society. Now, one of America's most respected economists reveals how individuals can turn economic reasoning to their advantage in their daily life--at home, at work, even on vacation. Tyler Cowen explains how understanding the incentives that work best with each individual is the key to successful and satisfactory daily interactions--from getting the kids to do the dishes to having a productive business meeting, attracting a mate to finding a good guide in a foreign country. Discovering your inner economist, Cowen suggests, can lead to a happier, more satisfying life. What better carrot could you ask for?
One of the most influential economists of the decade-and the New York Times bestselling author of The Great Stagnation-boldly argues that just about everything you've heard about food is wrong. Food snobbery is killing entrepreneurship and innovation, says economist, preeminent social commentator, and maverick dining guide blogger Tyler Cowen. Americans are becoming angry that our agricultural practices have led to global warming-but while food snobs are right that local food tastes better, they're wrong that it is better for the environment, and they are wrong that cheap food is bad food. The food world needs to know that you don't have to spend more to eat healthy, green, exciting meals. At last, some good news from an economist! Tyler Cowen discusses everything from slow food to fast food, from agriculture to gourmet culture, from modernist cuisine to how to pick the best street vendor. He shows why airplane food is bad but airport food is good; why restaurants full of happy, attractive people serve mediocre meals; and why American food has improved as Americans drink more wine. And most important of all, he shows how to get good, cheap eats just about anywhere. Just as The Great Stagnation was Cowen's response to all the fashionable thinking about the economic crisis, An Economist Gets Lunch is his response to all the fashionable thinking about food. Provocative, incisive, and as enjoyable as a juicy, grass-fed burger, it will influence what you'll choose to eat today and how we're going to feed the world tomorrow. .
At one time or another nearly every sector of the American economy has been branded as a market failure. Such claims are probably the most important arguments for government support or intervention. The private sector may be deemed incapable of solving the so-called free rider problem or may price public goods in such a way as to insufficiently exclude nonpayers. Assertions of market failure are usually based upon Paul Samuelson's theory of public goods & externalities. Public Goods & Market Failures both develops that theory & challenges the conclusion of many economists & policy makers that market failures cannot be corrected by market forces.
With one foot in the art-loving camp, which supports increased public funding of art, and the other in the libertarian economist camp, which fights to stamp out any government aid but military and corporate, Cowen (economics, George Mason U. ) tries to make each camp's position intelligible, if not convincing, to the other. He also uses the fact of persistent disagreement as a clue for discovering what the issues are really about. Annotation ©2006 Book News, Inc. , Portland, OR (booknews. com)
America is in disarray and our economy is failing us. We have been through the biggest financial crisis since the Great Depression, unemployment remains stubbornly high, and talk of a double-dip recession persists. Americans are not pulling the world economy out of its sluggish state -- if anything we are looking to Asia to drive a recovery. Median wages have risen only slowly since the 1970s, and this multi-decade stagnation is not yet over. By contrast, the living standards of earlier generations would double every few decades. The Democratic Party seeks to expand government spending even when the middle class feels squeezed, the public sector doesn't always perform well, and we have no good plan for paying for forthcoming entitlement spending. To the extent Republicans have a consistent platform, it consists of unrealistic claims about how tax cuts will raise revenue and stimulate economic growth. The Republicans, when they hold power, are often a bigger fiscal disaster than the Democrats. How did we get into this mess? Imagine a tropical island where the citrus and bananas hang from the trees. Low-hanging literal fruit -- you don't even have to cook the stuff. In a figurative sense, the American economy has enjoyed lots of low-hanging fruit since at least the seventeenth century: free land; immigrant labor; and powerful new technologies. Yet during the last forty years, that low-hanging fruit started disappearing and we started pretending it was still there. We have failed to recognize that we are at a technological plateau and the trees are barer than we would like to think. That's it. That is what has gone wrong. The problem won't be solved overnight, but there are reasons to be optimistic. We simply have to recognize the underlying causes of our past prosperity--low hanging fruit--and how we will come upon more of it.
This intriguing work explores the world of three amate artists. A native tradition, all of their painting is done in Mexico, yet, the finished product is sold almost exclusively to wealthy American art buyers. Cowen examines this cultural interaction between Mexico and the United States to see how globalization shapes the lives and the work of the artists and their families. The story of these three artists reveals that this exchange simultaneously creates economic opportunities for the artists, but has detrimental effects on the village. A view of the daily village life of three artists connected to the larger art world, this book should be of particular interest to those in the fields of cultural economics, Latino studies, economic anthropology and globalization.
The book explains how markets generate cooperation from people across the world, how prices act as signals and coordinate appropriate responses to changes in economic conditions, and how profit maximization leads to the minimization of industry costs.
Engaging and provocative writing, as well as a knack for revealing the 'invisible hand' of economics at work have made Cowen and Tabarrok's Modern Principles of Economics a singularly distinctive and effective textbook for the principles course.
For the first time ever renowned economist and coauthor of one of the world's most influential economic blogs, Tyler Cowen, sits down with best-selling author and autism advocate Temple Grandin for a lively in-depth exploration of the value of autism in the modern world. Just as he does in his book Create Your Own Economy, Cowen argues that individuals on the autism spectrum are integral to the world's many faceted economy; they create all kinds of value in financial, intellectual, cultural and even political markets. Their talents regarding the organization of information are of critical value now, and they are talents we all share to some extent. Cowen and Grandin discuss the nature of autistic thinking, the historical, future and global contributions it can make, as well as the damage done by the stigma currently associated with the autistic label. Valuing the unique and specialized autistic cognitive abilities of each member of society--understanding how we think differently--is the key to the unimaginable prosperity the modern world has yet to offer.