Angrynomics

Book summary

Mark Blyth is a British-American political economist, author, and professor. He is known for his work in the field of political economy, particularly in the areas of international economics, financial markets, and the study of austerity policies.

Many countries are experiencing a boom in their economies. The advantages of capitalism in today's world are not, however, spread equally. Numerous people face financial insecurity and are uncertain about their future. Even worse, people in power don't appear to want to address the legitimate concerns of the majority. We need to create more fair economies using modern means, such as regional autonomy and national wealth funds, to prevent the rage that fuels harmful tribalism, like racism and nationalism. Directly supporting consumption will fix recessions. The central banks supported the market in the last recession by providing huge bailouts to corporations. The situation felt outrageously unfair to many people. Directly transferring wealth to citizens would be a better option. The economy could be kept going more effectively if this were done - and, most importantly, it would not be perceived as unfair.

“What begins as a banking crisis ends with a banking crisis, even if it goes through the states’ accounts.”

"Facts never disconfirm a good ideology.”

“Banking bubbles and busts cause sovereign debt crises.”

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