The next two books on my "Favorites of 2019" cover economics in different ways. The first uses theology to critique and inform the rational choice model, and the second builds on the New Institutional School of Economics to describe social orders. Aquinas and the Market: Toward a Humane Economy - Mary Hirschfeld Those even slightly … Continue reading Favorite Books of 2019 – Theology, Economics, and Order
It's not December yet, but I don't think it's too early to start making end-of-year lists. Since I'd like to write little blurbs about each, I figured I'd describe two books at a time through the end of the year. While I don't agree with every book that will appear in these posts, I found each one challenging or educational in some way. These are in no particular order.
While numerous books extol the merits of free trade, not as many make the argument from a progressive perspective. Kimberly Clausing does just that in, Open: The Progressive Case for Free Trade, Immigration, and Global Capital. She proposes a broad economic vision to tackle the challenges of economic inequality - the “dominant economic problem of our time” - and hones in on middle-class wage stagnation...
When most of us think of refugees, we probably consider the recent crisis stemming from Syria's civil war, the resettlement debates in the United States and Europe, or we might even have a mental picture of a prison-like refugee camp in a remote part of a country.
When lenders face challenges like moral hazard, adverse selection, and weak contract enforcement, they will do their best to mitigate them.
Whether providing high-interest loans in informal markets, or billion dollar loans to multinational corporations, lenders everywhere face the same challenge - gaining enough information about borrowers to mitigate the risk of non-performing loans.
In 2012, Joyce received a $3,000 loan to start her business selling kitchen tiles in Lusaka, Zambia. This was no small feat in a country where 27.4% of small business owners recognize access to finance as a major or severe obstacle to business operations. While Joyce lacked the collateral she would have needed for a loan only a few years earlier, Zambia’s newly established credit bureau had a documented record of her overall creditworthiness. When she applied for the loan, the bank verified her reputation and provided the loan within just a few days.