More Than Words

Economics has the power to make the world a better, happier and safer place: this book shows you how Our world is in a mess. The challenges of climate change, inequality, hunger and a global pandemic mean our way of life seems more imperilled and society more divided than ever; but economics can help! From parenting to organ donation, housing to anti-social behaviour, economics provides the tools we need to fix the biggest issues of today. Far from being a means to predict the stock market or enrich the elite, economics provides a lens through which we can better understand how things work, design clever solutions and create the conditions in which we can all flourish. With a healthy dose of optimism, and packed with stories of economics in everyday situations, Erik Angner demonstrates the methods he and his fellow economists use to help improve our lives and the society in which we live. He shows us that economics can be a powerful force for good, awakening the possibility of a happier, more just and more sustainable world. Contents Preface Introduction: How to Save the World What is economics? The economic way The tools of economics Why care? Looking ahead 1. How to Eliminate Poverty Give them money Randomize it The feeling of scarcity The dismal science Analytical egalitarianism Anti-egalitarianism today A moral science 2. How to Raise Happy Children and Remain Sane The parenting economist Selfish reasons to have more kids The economics of it Yale or jail? Economics and tolerance 3. How to Fix Climate Change The proposal The economics of externalities But does it work? Why trust an economist? Rationality and irrationality 4. How to Change Bad Behaviour Norms and behaviour Norms can change How to change norms Solving for the equilibrium Economics as social science Hope and change 5. How to Give People What They Need A mechanism for kidneys Making good things happen Markets that work, and markets that don’t Economics, markets, and values 6. How to Be Happy The economics of happiness Most people are happy Can money buy happiness? Adaptation, aspiration, and social comparison What gives? 7. How to Be Humble What is overconfidence? What do we know about overconfidence? Sources of overconfidence Avoiding overconfidence Building overconfidence-proof teams Discussion 8. How to Get Rich Save when you can Invest in index funds Borrow judiciously Improve your skills Why aren’t we rich already? Having it all 9. How to Build Community What’s the problem? Ostrom’s design principles Ostrom’s polycentric vision Economics, expertise, and values 10. Conclusion Whence the scepticism? Final words Further Reading Glossary Acknowledgements Notes Bibliography Index "Economics has the power to make the world a better, happier and safer place- this book shows you how Our world is in a mess. The challenges of climate change, inequality, hunger and a global pandemic mean our way of life seems more imperilled and society more divided than ever; but economics can help! From parenting to organ donation, housing to anti-social behaviour, economics provides the tools we need to fix the biggest issues of today. Far from being a means to predict the stock market, enrich the elite or track money around the globe, economics provides a lens through which we can better understand how things work, design clever solutions and create the conditions in which we can all flourish. With a healthy dose of optimism, and packed with stories of economics in everyday situations, Erik Angner demonstrates the methods he and his fellow economists use to help improve the lives of people and the society in which they live. He shows us that economics can be a powerful force for good, awakening the possibility of a happier, more just and more sustainable world"--Publisher's description