What is *The Economists' Hour* by Binyamin Appelbaum about?

*The Economists' Hour* examines how economists reshaped global policy from 1969 to 2008, advocating free markets, deregulation, and globalization. Appelbaum critiques how their influence prioritized efficiency over equity, leading to income inequality, corporate dominance, and environmental neglect. The book blends historical analysis with case studies on topics like inflation fighting and tax policies, arguing for rebalancing economic priorities.

Who should read *The Economists' Hour*?

This book suits readers interested in economic history, policy-making, and critiques of free-market ideology. Policymakers, students of economics, and anyone seeking to understand the roots of modern inequality or the 2008 financial crisis will find it valuable. Appelbaum’s journalistic style makes complex ideas accessible to non-experts.

Is *The Economists' Hour* worth reading?

Yes, for its incisive critique of economic policymaking’s unintended consequences. Appelbaum’s rigorous research and engaging storytelling reveal how technocratic decisions eroded social safety nets and amplified corporate power. It’s particularly relevant for debates on climate policy, antitrust laws, and wealth redistribution in the 2020s.

What are the main arguments in *The Economists' Hour*?

Appelbaum argues that economists overly prioritized markets, leading to: - **Deregulation**: Weakened consumer and environmental protections. - **Globalization**: Accelerated job displacement without safety nets. - **Tax cuts**: Short-term growth at the expense of infrastructure and education. He contrasts these outcomes with the promised efficiency gains, highlighting systemic fractures.

How does *The Economists' Hour* critique Milton Friedman’s ideas?

The book challenges Friedman’s belief that markets self-correct, citing examples like the 2008 crisis and rising inequality. Appelbaum argues Friedman’s influence led policymakers to undervalue government’s role in addressing market failures, particularly in labor rights and environmental regulation.

What historical events does Appelbaum highlight in *The Economists' Hour*?

Key moments include: - Paul Volcker’s inflation-fighting policies at the Federal Reserve. - The repeal of Glass-Steagall, contributing to financial instability. - The rise of cost-benefit analysis in regulatory decisions. These examples illustrate economists’ growing authority over public policy.

How does *The Economists' Hour* address income inequality?

Appelbaum links deregulation and tax policies to widening wealth gaps. He notes how prioritizing shareholder value and free trade suppressed wages while enriching corporations. The book advocates reviving antitrust enforcement and progressive taxation to rebalance economic power.

What quotes from *The Economists' Hour* are significant?

Notable lines include: - **“Efficiency became the overriding goal, but not everyone benefited.”** - **“Markets need rules, and rules require democratic oversight.”** These emphasize Appelbaum’s call for reining in unfettered capitalism.

The Economists’ Hour Summary, PDF, EPUB, Audio

The Economists’ Hour

Binyamin Appelbaum

4.09 (1696 Reviews)

Economics Politics History

Обзор

Ключевые Выводы

Автор

Часто Задаваемые Вопросы

How economists hijacked American policy for 40 years, promising prosperity but delivering inequality. Appelbaum's New York Times acclaimed expose reveals how free-market theories fractured society globally, from Wall Street to Chile. The book that made policymakers question: did we give economists too much power?

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The Economists’ Hour

Binyamin Appelbaum

4.09 (1696 Reviews)

Economics Politics History

Обзор

Ключевые Выводы

Автор

Часто Задаваемые Вопросы

Исследуйте Свой Способ Обучения

Краткое резюме10мин

Почувствуйте книгу через голос автора

Глубокое погружение42мин

Превратите знания в увлекательные, богатые примерами идеи

Карточки10 идей

Захватите ключевые идеи мгновенно для быстрого обучения

Развлекательно25мин

Наслаждайтесь книгой в весёлой и увлекательной форме

Лучшая цитата из «The Economists’ Hour»

increased taxes generate far more public discussion than increased draft calls,

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Ключевые выводы

The Basement Revolution That Changed Everything

00:00

Picture a six-foot-seven economist standing before Congress in 1979, stone-faced and unapologetic, about to trigger the worst recession since the Great Depression-on purpose. Paul Volcker wasn't there to comfort anyone. He was there to break inflation, no matter how many jobs it cost. This moment crystallized a seismic shift that had been building for decades: economists had moved from basement offices to the commanding heights of power, reshaping every corner of American life. From the prices you pay to the job you hold, from the airlines you fly to the value placed on your very life, market-oriented economists rewrote the rules. Between 1969 and 2008, their ideas didn't just influence policy-they became policy. In the early 1950s, economists were barely tolerated in government. FDR dismissed Keynes as an impractical mathematician. Eisenhower warned against technocratic control. Young Paul Volcker worked as a human calculator in the Federal Reserve's basement with little hope for advancement. But everything was about to change. A small man with large glasses and boyish enthusiasm-Milton Friedman-would lead an intellectual revolution arguing that open markets represented the best system of human governance, far superior to government intervention. His ideas would move from academic fringe to mainstream dogma with stunning speed, fundamentally altering how Americans work, consume, and live. This was the Economists' Hour, and we're still living in the world it created.

Markets Replace Civic Duty

The Rise and Fall of Keynesian Confidence

Volcker's Dragon Slaying and Supply-Side Dreams

When Giants Walk Among Us

The Great Unshackling

Reckoning With What We've Built

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"Perfect balance between learning and entertainment. Finished ‘Thinking, Fast and Slow’ on my commute this week."

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"Reading used to feel like a chore. Now it’s just part of my lifestyle."

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254

"Feels effortless compared to reading. I’ve finished 6 books this month already."

@djmikemoore

"BeFreed turned my guilty doomscrolling into something that feels productive and inspiring."

@Pitiful

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"BeFreed turned my commute into learning time. 20-min podcasts are perfect for finishing books I never had time for."

@SofiaP

"BeFreed replaced my podcast queue. Imagine Spotify for books — that’s it. 🙌"

@Jaded_Falcon

201

"It is great for me to learn something from the book without reading it."

@OojasSalunke

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@Leo, Law Student, UPenn

483

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"I never knew where to start with nonfiction—BeFreed’s book lists turned into podcasts gave me a clear path."

@Chloe, Solo founder, LA

117

"Perfect balance between learning and entertainment. Finished ‘Thinking, Fast and Slow’ on my commute this week."

@Raaaaaachelw

"Crazy how much I learned while walking the dog. BeFreed = small habits → big gains."

@Matt, YC alum

108

"Reading used to feel like a chore. Now it’s just part of my lifestyle."

@Erin, Investment Banking Associate , NYC

254

"Feels effortless compared to reading. I’ve finished 6 books this month already."

@djmikemoore

"BeFreed turned my guilty doomscrolling into something that feels productive and inspiring."

@Pitiful

4.5K

"BeFreed turned my commute into learning time. 20-min podcasts are perfect for finishing books I never had time for."

@SofiaP

"BeFreed replaced my podcast queue. Imagine Spotify for books — that’s it. 🙌"

@Jaded_Falcon

201

"It is great for me to learn something from the book without reading it."

@OojasSalunke

"The themed book list podcasts help me connect ideas across authors—like a guided audio journey."

@Leo, Law Student, UPenn

483

"Makes me feel smarter every time before going to work"

@Cashflowbubu

"Instead of endless scrolling, I just hit play on BeFreed. It saves me so much time."

@Moemenn

"I never knew where to start with nonfiction—BeFreed’s book lists turned into podcasts gave me a clear path."

@Chloe, Solo founder, LA

117

"Perfect balance between learning and entertainment. Finished ‘Thinking, Fast and Slow’ on my commute this week."

@Raaaaaachelw

"Crazy how much I learned while walking the dog. BeFreed = small habits → big gains."

@Matt, YC alum

108

"Reading used to feel like a chore. Now it’s just part of my lifestyle."

@Erin, Investment Banking Associate , NYC

254

"Feels effortless compared to reading. I’ve finished 6 books this month already."

@djmikemoore

"BeFreed turned my guilty doomscrolling into something that feels productive and inspiring."

@Pitiful

4.5K

"BeFreed turned my commute into learning time. 20-min podcasts are perfect for finishing books I never had time for."

@SofiaP

"BeFreed replaced my podcast queue. Imagine Spotify for books — that’s it. 🙌"

@Jaded_Falcon

201

"It is great for me to learn something from the book without reading it."

@OojasSalunke

"The themed book list podcasts help me connect ideas across authors—like a guided audio journey."

@Leo, Law Student, UPenn

483

"Makes me feel smarter every time before going to work"

@Cashflowbubu

"Instead of endless scrolling, I just hit play on BeFreed. It saves me so much time."

@Moemenn

"I never knew where to start with nonfiction—BeFreed’s book lists turned into podcasts gave me a clear path."

@Chloe, Solo founder, LA

117

"Perfect balance between learning and entertainment. Finished ‘Thinking, Fast and Slow’ on my commute this week."

@Raaaaaachelw

"Crazy how much I learned while walking the dog. BeFreed = small habits → big gains."

@Matt, YC alum

108

"Reading used to feel like a chore. Now it’s just part of my lifestyle."

@Erin, Investment Banking Associate , NYC

254

"Feels effortless compared to reading. I’ve finished 6 books this month already."

@djmikemoore

"BeFreed turned my guilty doomscrolling into something that feels productive and inspiring."

@Pitiful

4.5K

"BeFreed turned my commute into learning time. 20-min podcasts are perfect for finishing books I never had time for."

@SofiaP

"BeFreed replaced my podcast queue. Imagine Spotify for books — that’s it. 🙌"

@Jaded_Falcon

201

"It is great for me to learn something from the book without reading it."

@OojasSalunke

"The themed book list podcasts help me connect ideas across authors—like a guided audio journey."

@Leo, Law Student, UPenn

483

"Makes me feel smarter every time before going to work"

@Cashflowbubu

1.5K Ratings4.7

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The Economists’ Hour by Binyamin Appelbaum Summary

Overview of The Economists’ Hour

Similar books to The Economists’ Hour

Лучшая цитата из «The Economists’ Hour»

Похожее

Ключевые выводы

The Basement Revolution That Changed Everything

Markets Replace Civic Duty

The Rise and Fall of Keynesian Confidence

Volcker's Dragon Slaying and Supply-Side Dreams

When Giants Walk Among Us

The Great Unshackling

Reckoning With What We've Built

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Похожее

Ключевые выводы

The Basement Revolution That Changed Everything

Markets Replace Civic Duty

The Rise and Fall of Keynesian Confidence

Volcker's Dragon Slaying and Supply-Side Dreams

When Giants Walk Among Us

The Great Unshackling

Reckoning With What We've Built