Angrynomics

Buchzusammenfassung

Eric Lonergan earned his MSc in economics and philosophy from the London School of Economics and studied PPE at Oxford University. He now works as an economist, macro hedge fund manager, and author. He also provides advice to decision-makers in government.

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.

"In the past, technological innovation was framed with optimism for huge improvements in standards of living, today the prevalent narrative seems one of fear and dystopia."

"Public anger is often worn like a badge of honour. Private anger resembles its opposite. It is often characterized by shame."

"An angry colleague, a stressed parent, or an enraged driver – these are people in need of help, not deserving of redress. But public anger itself is also two-sided."

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