The Financial Foundations of Production and Uncertainty
Rejecting much of mainstream economic theory for being too passive, this book argues that the innovative and unpredictable nature of economic phenomena is better understood with analytical devices.
Principles of Behavioral Economics
Principles of Behavioral Economics, written by an acknowledged leader in the field, provides a comprehensive introduction to one of the most exciting areas of modern economics. It demonstrates how models of economic theory can be enriched by using interdisciplinary insights from psychology, sociology, evolutionary biology, and neuroscience to build the basis for a more empirically supported set of economic principles. Unique in its level of rigor and lucidity, the book highlights the important link between theoretical and empirical economics by demonstrating the usefulness of a range of data sources such as observational data, lab data, survey data, and neuroeconomic data. This field-defining textbook argues that behavioral economics is not just a supplement to mainstream economics. Taking behavioral economics seriously requires a total rethink, and eventual transformation, of every area of economics.
In Pursuit of the Sustainable Development Goals
Until 2014, rural women in India had limited involvement in the country's economic growth. Prime Minister Narendra Modi's administration has worked to change that by making a notable shift towards female empowerment and equitable growth through initiatives like Atmanirbhar Bharat and Viksit Bharat 2047. This timely study showcases PM Modi's efforts in transforming rural development by empowering women through self-help groups, resulting in the exponential growth of female entrepreneurs. In Pursuit of the Sustainable Development Goals uses first hand interviews and real-world case studies to delve into how initiatives like self-help groups and community lending have empowered women and contributed to achieving the United Nations Sustainable Development Goals of poverty reduction (Goal 1) and women's empowerment (Goal 5). Additionally, the work uses case studies of women entrepreneurs from Rajasthan, Jammu and Kashmir, and Gujarat, to highlight their success in international markets through traditional crafts like Bandani, Pashmina, and Kannuj perfume. Key to this investigation is the importance of leadership, marketing strategies, and geographic indicators in transforming handicraft sectors and enhancing sustainability. Further, this work examines why women excel as risk managers within community lending groups, analysing leadership traits and the impact of gender-inclusive policies on achieving the Sustainable Development Goals. Highlighting the strategic management of community groups through success stories and real-life accounts communicated through first hand interviews, this work is essential reading for academic scholars, students and policymakers working in the areas of strategy and public policy as well as microfinance and development studies.
The Future of Multilateralism and Globalization in the Age of the U.S.-China Rivalry
This book investigates how a new modus vivendi between China and the United States in a post-globalized world requires more economic independence because of the distrust between G20 economies but heightened international cooperation, in order to avert a shift to nationalism and protectionism and to fight financial and climate crises.
Economics, Religion and Happiness
This book takes the view that happiness is not always within our control but, instead, prey to the attitudes and actions of others. Following Jean-Paul Sartre's aphorism, "hell is other people", the broad theme of this book is that "unhappiness is other people".
The Economics of Estuary Restoration in South Africa
This book examines the economic costs and benefits of the ecological restoration of estuaries, utilising case studies from South Africa.
The Multilateralism of the New Development Bank on the Sustainable Economic Growth in Brics Nations and Beyond
Dynamic Econometrics
This textbook for advanced econometrics students introduces key concepts of dynamic non-stationary modelling. It discusses all the classic topics in time series analysis and linear models containing multiple equations, as well as covering panel data models, and non-linear models of qualitative variables. The book offers a general introduction to dynamic econometrics and covers topics including non-stationary stochastic processes, unit root tests, Monte Carlo simulations, heteroskedasticity, autocorrelation, cointegration and error correction mechanism, models specification, and vector autoregressions. Going beyond advanced dynamic analysis, the book also meticulously analyses the classical linear regression model (CLRM) and introduces students to estimation and testing methods for the more advanced auto-regressive distributed lag (ARDL) model. The book incorporates worked examples, algebraic explanations and learning exercises throughout. It will be a valuable resource for graduate and postgraduate students in econometrics and quantitative finance as well as academic researchers in this area.
1929
#1 NEW YORK TIMES BESTSELLER "It is one of the best narrative histories I've read."--The Wall Street Journal A New York Times Notable Book of 2025 - One of Barack Obama's Favorite Books of 2025 - Named a BEST BOOK OF 2025 by The Washington Post, TIME, The Economist, Air Mail, Bloomberg, Fast Company, Katie Couric Media, and History From the bestselling author of Too Big to Fail, "the definitive history of the 2008 banking crisis," (The Atlantic) comes a riveting narrative of the most infamous stock market crash in history--one with ripple effects that still shape our society today. In 1929, the world watched in shock as the unstoppable Wall Street bull market went into a freefall, wiping out fortunes and igniting a depression that would reshape a generation. But behind the flashing ticker tapes and panicked traders, another drama unfolded--one of visionaries and fraudsters, titans and dreamers, euphoria and ruin. With unparalleled access to historical records and newly uncovered documents, New York Times bestselling author Andrew Ross Sorkin takes readers inside the chaos of the crash, behind the scenes of a raging battle between Wall Street and Washington and the larger-than-life characters whose ambition and na簿vet矇 in an endless boom led to disaster. The dizzying highs and brutal lows of this era eerily mirror today's world--where markets soar, political tensions mount, and the fight over financial influence plays out once again. This is not just a story about money. 1929 is a tale of power, psychology, and the seductive illusion that this time is different. It's about disregarded alarm bells, financiers who fell from grace, and skeptics who saw the crash coming--only to be dismissed until it was too late. Hailed as a landmark book, Too Big to Fail reimagined how financial crises are told. Now, with 1929, Sorkin delivers an immersive, electrifying account of the most pivotal market collapse of all time--with lessons that remain as urgent as ever. More than just a history, 1929 is a crucial blueprint for understanding the cycles of speculation, the forces that drive financial upheaval, and the warning signs we ignore at our peril.
1929
#1 NEW YORK TIMES BESTSELLER "It is one of the best narrative histories I've read."--The Wall Street Journal A New York Times Notable Book of 2025 - One of Barack Obama's Favorite Books of 2025 - Named a BEST BOOK OF 2025 by The Washington Post, TIME, The Economist, Air Mail, Bloomberg, Fast Company, Katie Couric Media, and History From the bestselling author of Too Big to Fail, "the definitive history of the 2008 banking crisis," (The Atlantic) comes a riveting narrative of the most infamous stock market crash in history--one with ripple effects that still shape our society today. In 1929, the world watched in shock as the unstoppable Wall Street bull market went into a freefall, wiping out fortunes and igniting a depression that would reshape a generation. But behind the flashing ticker tapes and panicked traders, another drama unfolded--one of visionaries and fraudsters, titans and dreamers, euphoria and ruin. With unparalleled access to historical records and newly uncovered documents, New York Times bestselling author Andrew Ross Sorkin takes readers inside the chaos of the crash, behind the scenes of a raging battle between Wall Street and Washington and the larger-than-life characters whose ambition and na簿vet矇 in an endless boom led to disaster. The dizzying highs and brutal lows of this era eerily mirror today's world--where markets soar, political tensions mount, and the fight over financial influence plays out once again. This is not just a story about money. 1929 is a tale of power, psychology, and the seductive illusion that this time is different. It's about disregarded alarm bells, financiers who fell from grace, and skeptics who saw the crash coming--only to be dismissed until it was too late. Hailed as a landmark book, Too Big to Fail reimagined how financial crises are told. Now, with 1929, Sorkin delivers an immersive, electrifying account of the most pivotal market collapse of all time--with lessons that remain as urgent as ever. More than just a history, 1929 is a crucial blueprint for understanding the cycles of speculation, the forces that drive financial upheaval, and the warning signs we ignore at our peril.
A Journey Through Economics
Anyone who does not know the history of economics cannot think competently about the future of economics. This book offers an introduction to economic history for those looking for more than just dry theory. The author takes you on a journey through the economy, from its beginnings in the Stone Age to the digitalization of modern times. In addition to the nature and fundamental principles of economics, the book also introduces great thinkers such as Aquinas, Keynes, and Erhard. While ancient philosophers like Plato and Aristotle focused mainly on the ethical dimension of economics, the first modern economist and moral philosopher, Adam Smith, for example, pondered how nations could achieve prosperity. Today, however--in an era where capitalism is increasingly under scrutiny--the question is how prosperity can reach everyone, especially in times of digitalization. Therefore, the book not only addresses economic concepts of the past and present but also offers an intriguing look into the future. Issues of social justice are discussed alongside topics such as digitalization, globalization, and ecology. The second edition has been updated to include a chapter on "Economics in Uncertain Times," which deals, among other things, with the economic consequences of the COVID-19 pandemic and the war in Ukraine.
Entropy Economics
Economists dream of equilibrium. It's time to wake up. In mainstream economics, markets are ideal if competition is perfect. When supply balances demand, economic maturity is orderly and disturbed only by shocks. These ideas are rooted in doctrines going back thousands of years, yet, as James K. Galbraith and Jing Chen show, they contradict the foundations of our scientific understanding of the physical and biological worlds. Entropy Economics discards the conventions of equilibrium and presents a new basis for thinking about economic issues, one rooted in life processes--an unequal world of unceasing change in which boundaries, plans, and regulations are essential. Galbraith and Chen's theory of value is based on scarcity, and it accounts for the power of monopoly. Their theory of production covers increasing and decreasing returns, uncertainty, fixed investments over time, and the impact of rising resource costs. Together, their models illuminate key problems such as trade, finance, energy, climate, conflict, and demography. Entropy Economics is a thrilling framework for understanding the world as it is and will be keenly relevant to the economic challenges of a world threatened with disorder.
Financial Econometrics
Financial Econometrics is a contribution to modern financial econometrics, overviewing both theory and application. It covers, in detail, three important topics in the field that have recently drawn the attention of the academic community and practitioners, with low-frequency data (trend determination, bubble detection, and factor-augmented regressions) and examines various topics in high-frequency financial econometrics with continuous time models and discretized data. Also included are the estimation of stochastic volatility models, posterior-based hypothesis testing, and posterior-based model selection. Exploring topics at the forefront of research in the field of financial econometrics, this book offers an accessible introduction to the research and provides the groundwork for the development of new econometric techniques.
Brazilian Agricultural Development, 1950-1985
Between 1950 and 1985, the United States provided an ongoing flow of resources to support Brazilian agriculture. These were granted regardless of the orientation of the dominant political party in both countries. This book documents the Cold War-driven aid programs, the private capital, and investment from American philanthropists that laid the foundation for economic development to soar in Brazil through to today. Earl Richard Downes explains how Brazil became a major catalyst for change with US assistance and a military government. This rich history includes conflict over land titles, displacement of farm laborers, environmental damage, as well as political and social turbulence. The book breaks down how Brazil's military inserted itself into major components of the agricultural revolution, including mechanization, fertilization, credit, technical assistance, research, processing, and marketing. Chapters break down the global impact made through the frameworks and models used to develop Brazilian agriculture. Downes also offers insight into the nation's first agricultural research corporation, the Brazilian Agricultural Research Corporation (EMBRAPA).
Creativity 360 Degrees
Globally recognised and endorsed by EU policies, creative industries play a pivotal role in fostering cultural diversity, social cohesion, and technological innovation. Further, they play a key role in national and regional economies. Despite this, Southeastern Europe falls behind the rest of Europe in implementing sustainable policies and establishing supportive ecosystems for creative industries. Nevertheless, the region boasts distinctive strengths and opportunities. Creativity 360 Degrees offers a comprehensive examination of the creative industries sector in Southeast Europe, spanning countries such as Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Greece, Kosovo, Montenegro, North Macedonia, Romania, Serbia, and Slovenia. Through insightful contributions, chapters delve into the way creative industries drive entrepreneurship, attract investment, and stimulate local economies. Authors explore the creative industries' connection to urban development, gentrification, and renewal, while also addressing their cultural impact on shaping identities and values through the production, consumption, and dissemination of various cultural products. This work investigates the integration of creative industries with technology and digital media, alongside education and workforce development. Delivering comprehensive insights into the multifaceted impacts of creative industries on culture, society, and the economy, this work is relevant for scholars and researchers in fields such as cultural studies, urban development, economics, sociology, and public policy.
Influence of Recommender Systems on Consumer Behavior
In the dynamic landscape of digital platforms, recommender systems silently guide our decisions, shaping what we watch, read, and buy. But how do these algorithms influence our behavior beyond convenience and personalization? This dissertation delves into the psychological undercurrents of recommender systems, uncovering how subtle design choices trigger behavioral biases that affect consumer preferences, beliefs, and decisions. Through a series of rigorous field experiments, this work explores three critical dimensions of recommender systems: item selection, ranking, and recommendation design. It reveals how phenomena like assimilation and contrast effects, as well as visual cues such as product badges, can subtly yet powerfully steer consumer behavior. Challenging traditional recommender system design priorities, the findings highlight that similarity can sometimes outweigh diversity and that strategic positioning can defy conventional assumptions about user attention. Combining a systematic literature review with empirical evidence from real-world settings, this dissertation offers insights into the interplay between technology and human cognition. It is an essential read for scholars, practitioners, and platform designers seeking to understand - and ethically harness - the behavioral dynamics of recommender systems.
The Chile Project
How Chile became home to the world's most radical free-market experiment--and what its downfall suggests about the fate of neoliberalism around the globe In The Chile Project, Sebastian Edwards tells the remarkable story of how the neoliberal economic model--installed in Chile during the Pinochet dictatorship and deepened during three decades of left-of-center governments--came to an end in 2021, when Gabriel Boric, a young former student activist, was elected president, vowing that "If Chile was the cradle of neoliberalism, it will also be its grave." More than a story about one Latin American country, The Chile Project is a behind-the-scenes history of the spread and consequences of the free-market thinking that dominated economic policymaking around the world in the second half of the twentieth century--but is now on the retreat. In 1955, the U.S. State Department launched the "Chile Project" to train Chilean economists at the University of Chicago, home of the libertarian Milton Friedman. After General Augusto Pinochet overthrew socialist president Salvador Allende in 1973, Chile's "Chicago Boys" implemented the purest neoliberal model in the world for the next seventeen years, undertaking a sweeping package of privatization and deregulation, creating a modern capitalist economy, and sparking talk of a "Chilean miracle." But under the veneer of success, a profound dissatisfaction with the vast inequalities caused by neoliberalism was growing. In 2019, protests erupted throughout the country, and in 2022 Boric began his presidency with a clear mandate: to end neoliberalismo. In telling the fascinating story of the Chicago Boys and Chile's free-market revolution, The Chile Project provides an important new perspective on the history of neoliberalism and its global decline today.
The War Below
LONGLISTED FOR THE NATIONAL BOOK AWARD FOR NONFICTION AND THE 2024 FINANCIAL TIMES AND SCHRODERS BUSINESS BOOK OF THE YEAR AWARD This unprecedented look inside the global battle to power our lives is "required reading for anyone interested in the 360-degree impacts of the energy transition" (Daniel Poneman, former US Deputy Secretary of Energy) from acclaimed Reuters reporter Ernest Scheyder. To build electric vehicles, solar panels, cell phones, and millions of other devices means the world must dig more mines to extract lithium, copper, and other vital building blocks. But mines are deeply unpopular, even as they have a role to play in fighting climate change and powering crucial technologies. These tensions have sparked a worldwide reckoning over the sourcing of necessary materials, and no one understands the complexities of these issues better than Ernest Scheyder. The War Below reveals the explosive brawl among industry titans, conservationists, community groups, policymakers, and many others over whether the habitats of rare plants, sensitive ecosystems, Indigenous holy sites, and other places should be dug up for their riches. With accessible and "illuminating" (Chris Miller, author of Chip War) writing, Scheyder shows the human toll of this war and explains why recycling and other newer technologies have struggled to gain widespread use. He also expertly chronicles Washington's attempts to wean itself off supplies from China, the global leader in mineral production and processing. The War Below paints a powerfully honest and nuanced picture of what is at stake in this new fight for energy independence, revealing how America and the rest of the world's hunt for the "new oil" directly affects us all.
Dollar Dominance
In a world shaken by crises, why does the dollar continue to dominate? In this book, Photis Lysandrou explores the interaction between global instability and the enduring strength of the dollar. Drawing on examples from the 2008 Great Financial Crisis to the COVID-19 pandemic and Russia's invasion of Ukraine, the author reveals how uncertainty and instability in global trade, production and politics drives investors towards the safety of the dollar, reinforcing its dominance over other currencies. With clear and insightful analysis, Lysandrou reveals the true global financial foundations of dollar dominance, and lays out what it would take for other currencies such as the Euro to challenge its position.
Is the Chinese Economy a Miracle or a Bubble?
Since China undertook economic reform and opened its economy to the world in the late 1970s, its economy has been growing at an average annual rate of over 9 percent for more than four decades. No other economy in recorded history has grown at such a high rate and for such a long period as China has done. The questions that naturally arise are: Was the Chinese economy a miracle? Or was it a mere bubble? Will the Chinese economy begin to stagnate like the Japanese economy did in the 1990s, and perhaps decline? Will it be able to escape the 'middle-income trap'? If it is not a miracle, can the Chinese development experience be replicated elsewhere?This book provides a comprehensive and detailed discussion of the remarkable growth of the Chinese economy over the past decades, by scrutinising the sources of economic growth. It also evaluates the strategies adopted by the Chinese government to promote the transition from a centrally-planned economy to a market-based economy through the 'dual-track' approach. It is argued that, while the Chinese economy is unique and exceptional in many ways, its development experience can be explained and attributed.
Power Lines
On American energy and its persisting power to destroy. In the United States, the promise of a green-energy future is complicated by its realities. The country's legacy energy systems are decrepit; the rollout of new technologies is unequal and piecemeal; households find themselves increasingly without reliable or affordable access; and Americans are excluded from the decisions that shape their energy futures. Having power in America has become an exercise in race, class, and wealth--in more ways than one. Power Lines is a sweeping portrait of American energy in the twenty-first century, rendered in terms of its increasing--and inevitable--human costs. Coal miners in West Virginia lose their livelihoods as energy markets change; historically marginalized households cannot easily access new technologies; children in "sacrifice zones" adjacent to mineral-mining sites suffer health problems and limited resources; and cities and towns are burdened from the production of alternative energies. Sanya Carley and David Konisky show current challenges and an uncertain future of America's greatest policy imperative. The result is not only sobering but also essential for planning and pursuing a clean-energy transition that improves on the errors of the past.
Social Coordination and Public Policy
This volume explores how public policy can foster or limit social coordination in the market, civil society, and within various levels of government. Some chapters in this volume are more theoretical, applying public choice and market process theory to public policy issues, while other chapters examine practical, real-world case studies.
Your Shopping Superpower
Your Shopping Superpower provides an insightful guide and strategies for shoppers to align the contents in their carts with their personal values. Are there harmful toxins in your food and body care? Who makes the products you purchase and under what conditions? What impact does the production of these items have on the environment? If 70% of the U.S. economy is driven by consumer spending, then every purchase we make has a physical and social impact on the world. Unfortunately, our shopping choices can unintentionally contribute to climate change and social injustice. Many people wish they could do more to combat these unjust and unsustainable outcomes. So what is the connection between our purchases and this impact? Your Shopping Superpower explores this important question and offers a comprehensive guide that navigates toward positive and sustainable shopping practices by providing pragmatic tips, tools and revealing how our habits can help reduce climate change, support companies with equitable workplace conditions, and foster diverse, local businesses. Broken into categories including People, Planet, Community, and Health, Diane Osgood expands on key issues regarding climate degradation, labor exploitation, products containing carcinogens and toxins, and the importance of supporting local, women-owned, and minority-owned businesses while covering an array of products that include food, fashion, gifts, household items, and personal care. Addressing shoppers' doubts about whether consumer choices truly have an impact and their concerns about costs and accessibility, Osgood shows how making these easy changes fosters happiness. With helpful diagrams and firsthand stories on climate and social injustice, Your Shopping Superpower informs and guides shoppers on how to: Implement one change per week Identify trustworthy certifications, rating systems, and apps Detect greenwashing and other misleading marketing Determine which purchases to switch for maximum impact Handle and approach choices that aren't easy or affordable By changing what we buy, we can initiate the change in our economy's environmental footprint and social impact. To enact change, we must start simple; it's about progress, not perfection.
A Crash Course on Crises
An incisive overview of the macroeconomics of financial crises--essential reading for students and policy experts alike With alarming frequency, modern economies go through macro-financial crashes that arise from the financial sector and spread to the broader economy, inflicting deep and prolonged recessions. A Crash Course on Crises brings together the latest cutting-edge economic research to identify the seeds of these crashes, reveal their triggers and consequences, and explain what policymakers can do about them. Each of the book's ten self-contained chapters introduces readers to a key economic force and provides case studies that illustrate how that force was dominant. Markus Brunnermeier and Ricardo Reis show how the run-up phase of a crisis often occurs in ways that are preventable but that may go unnoticed and discuss how debt contracts, banks, and a search for safety can act as triggers and amplifiers that drive the economy to crash. Brunnermeier and Reis then explain how monetary, fiscal, and exchange-rate policies can respond to crises and prevent them from becoming persistent. With case studies ranging from Chile in the 1970s to the COVID-19 pandemic, A Crash Course on Crises synthesizes a vast literature into ten simple, accessible ideas and illuminates these concepts using novel diagrams and a clear analytical framework.
Big Data for Economic Resilience
Scientific Study from the year 2025 in the subject Business economics - Economic Policy, grade: A, language: English, abstract: The probability and significance of big data have dramatically transformed the economic policymaking matrix into a more robust, resourceful and growth-centered toolbox. This paper aims to understand how data science can drive big data to support the US's economic policies in stabilizing GDP, supporting the recovery of labor markets and decreasing policy feedback time during shocks. The research employs machine learning and econometrics models to address various datasets from government and private and public organizations to assess the effects of data-driven decisions on economic stability and equity. The study shows that big data analysis improves policy accuracy in targeting fiscal interventions and quick responses to financial shocks. For example, analytical tools helped to predict which industries would prove to be more sustainable and aid in the transition of employees; real-time analytics shrunk response time from months to weeks. However, the study also highlights key issues such as algorithmic bias, data accessibility and diversity, privacy and transparency issues. Recommendations for future research focus on the call for further development of digital resources, including different kinds of data and interdisciplinary cooperation to achieve fair and efficient policies. In turn, big data can become a solution, facilitating the creation of the necessary conditions for developing a new economy that can effectively respond to possible future shocks and crises.
The Land Trap
How the world's oldest asset secretly shapes our modern economy In The Land Trap, Mike Bird--Wall Street editor at The Economist--reveals how this ancient asset still exerts outsize influence over the modern world. From the speculative land grabs of colonial America to China's real estate crisis today, Bird shows how fortunes are built--and destroyed--on the bedrock of land. Tracing three centuries of history, Bird explores how land quietly became the linchpin of the global banking system, driving everything from soaring housing prices to rising geopolitical tensisons. As governments wrestle with inequality and land grows ever scarcer, The Land Trap offers a powerful new framework for understanding the hidden force behind today's most urgent challenges. This is the book for anyone who wants to see beyond markets and money to the real game being played on a foundation as old as civilization itself. Timely, provocative, and essential, The Land Trap will change how you see the ground beneath your feet.
Political Process
Political Process: New Perspectives on the Virginia and Bloomington Schools explore the concept of political process using insights from the Virginia and Bloomington schools of political economy. The chapters examine the processes of collective decision-making theoretically and through applied case studies from multiple disciplines.
Leveling the Playing Field
Structural sources of Africa's inequality are rooted in laws, institutions, and practices that create advantages for a few but disadvantages for many. They include differences in living standards that come from inherited or unalterable characteristics, such as where people are born and their parents' education, ethnicity, religion, and gender. They also arise from market and institutional distortions that privilege some firms, farms, and workers to access markets, employment, and opportunities while limiting access for the majority and limiting earning opportunities. Leveling the Playing Field: Addressing Structural Inequalities to Accelerate Poverty Reduction in Africa argues that policies to address high levels of structural inequality in Africa are also at the heart of what is needed to accelerate progress in reducing extreme poverty. There is nothing inevitable about structural inequality. Economies that put up barriers to opportunities can also remove and replace them with policies that create a level playing field. Indeed, across the world, countries where opportunities are distributed more fairly grow faster and have lower poverty incidence. Broadening access to opportunities represents one of Africa's key prospects for raising productivity and earnings and accelerating poverty reduction. Leveraging the most recent data available for the region, Leveling the Playing Field provides recommendations aimed at improving the productive capacity of the poor, the ability of poor individuals to use their capacities for well-paying job opportunities, and the design of fair fiscal policies.
Behold the Leviathan
In defiance of the stereotypes trotted out by yesterday's pundits, modern India's rise is both unusual and unexpected. It is unusual because some of the sharpest economic improvements are being observed in those sections of Indian society which were thought to be the most disadvantaged: women, oppressed castes and rural India. It is unexpected because of the widespread view. Until a couple of years ago, India's democratic construct was inferior to China's single-party state. In Behold the Leviathan: The Unusual Rise of Modern India, Saurabh Mukherjea and Nandita Rajhansa provide a gripping picture of how 1.5 billion Indians are combining to spectacular effect to create a range of social and economic outcomes which have no precedent in any emerging economy. For example, India now has as many chess grandmasters as the United States, and the expertise of its scientists has guided India's space modules to the dark side of the moon, a feat no other country has achieved. In this zeitgeist-defining book, the authors have also explored, through pathbreaking research, why the vast majority of India's companies are struggling to grow their profits even as a small minority of these companies have gone on to build globe-girdling franchises worth tens of billions of dollars. Written over two years, during which the authors crisscrossed India hundreds of times and interviewed over fifty of the country's leading thinkers in business, policymaking, media, and academia, Behold the Leviathan has been hailed by the cognoscenti as 'a firecracker of a read, ' challenging decision-makers, policymakers, and opinion leaders to reevaluate their long-standing perceptions of India's development.
