Book reviews

Editor: Valentin Cojanu


Lehmann’s Analytical Inconsistencies on Liberalism and Capitalism

Ionuț Văduva.
Review of Lehmann, P.-J., Liberalism and Capitalism Today, London, Hoboken: ISTE-Wiley, 2021, 214 pp, ISBN 978-1-78630-689-0

Are Cultural Insights Worthy in Political Economy?: Review of Cultural Values in Political Economy, edited by J.P. Singh

Raul Morosan.
Cultural Values in Political Economy, edited by J.P. Singh, Stanford, California: Stanford University Press, 2020, 248 p., e-book

Review of Ralf Lüfter, The Ethics of Economic Responsibility

Toni Gibea.
Ralf Lüfter, The Ethics of Economic Responsibility, Routledge, 2020

Review of Margherita Zanasi, Economic Thought in Modern China: Market and Consumption, c.1500–1937, Cambridge: Cambridge University Press, 2020, 252 pages, ISBN: 978-1-108-49993-4.

Jiarui Wu.

Review of François Levrau, Noel Clycq (eds.), Equality. Interdisciplinary Perspectives

Henrieta Şerban.
François Levrau, Noel Clycq (eds.), Equality. Interdisciplinary Perspectives, Cham, Palgrave Macmillan/Springer Nature, 1st Edition, 2021, 356 pp

Review of Edward Nelson, Milton Friedman and Economic Debate in the United States, 1932-1972 (volumes 1 and 2)

Peter Galbács.
Edward Nelson, Milton Friedman and Economic Debate in the United States, 1932-1972 (volumes 1 and 2), Chicago and London, The University of Chicago Press, 2020

Review of Stephen J. Macekura, The Mismeasure of Progress: Economic Growth and Its Critics

Dragoș Bîgu.
Stephen J. Macekura, The Mismeasure of Progress: Economic Growth and Its Critics, Chicago and London, The University of Chicago Press, 2020

Review of Margaret Schabas and Carl Wennerlind, A Philosopher's Economist: Hume and the Rise of Capitalism

Mihail-Valentin Cernea.
Margaret Schabas and Carl Wennerlind, A Philosopher's Economist: Hume and the Rise of Capitalism, Chicago IL, University of Chicago Press, 316 p., e-book

Review of Craig Smith, Adam Smith, Cambridge / Medford MA, Polity Press, 1st Edition, 2020, 210 pp., pb, ISBN-13: 978-1-5095-1823-4

Sergiu Bălan.

Review of Dumas, Lloyd J., Building the Good Society. The Power and Limits of Markets, Democracy and Freedom in an Increasingly Polarized World, Emerald Publishing, 2020, xiv+228 pp., hb, ISBN 978-1-83867-632-2

George Şerban-Oprescu.

Review of Mark Thornton, The Skyscraper Curse: And How Austrian Economists Predicted Every Major Economic Crisis of the Last Century, Auburn, Alabama, Mises Institute, 2018, 275 pp., pb, ISBN 978-1-61016-684-3

Alexandru Pătruţi.

Review of Andrea Komlosy, Work. The Last 1000 Years, translated by Jakob K. Watson with Loren Balhorn, London, Verso, 2018, 265 pp., hb, ISBN 978-1-78663-410-8

Valentin Cojanu.

A Review of Piero Ferri, Minsky’s Moment. An Insider’s View on the Economics of Hyman Minsky, Edward Elgar Publishing, 2019, 252 pp., ISBN 978-1-78897-372-4

Andreas Stamate-Stefan.

Review of Handbook on the History of Economic Analysis, edited by Gilbert Faccarello and Heinz D. Kurz, Edward Elgar Publishing, Northhampton, MA, 2018, 3 volumes, 1919 pp, Paperback, ISBN 978-1-78536-131-9

Gabriel Mursa ; Andreea Iacobuţă.

Review of Colin White, A History of the Global Economy. The Inevitable Accident, Edward Elgar Publishing, 2018, hb, ix+495 pages, ISBN 978-1-78897-197-3

George Şerban-Oprescu.

Review of Venkat Venkatasubramanian, How Much Inequality is Fair? Mathematical Principles of a Moral, Optimal, and Stable Capitalist Society, New York, Columbia University Press, 2017, xxi+279 pp., hb, ISBN 978-0-231-18072-6

Valentin Cojanu.

Review of Tavasci, Daniela and Luigi Ventimiglia (eds.), Teaching the History of Economic Thought. Integrating Historical Perspectives into Modern Economics, Edward Elgar Publishing, 2018, hb, vi+150 pages, ISBN 978-1-78811-347-2

George Serban-Oprescu.

Review of Max Haiven, Art after Money, Money after Art; Creative Strategies Against Financialization, London: Pluto Press, 2018, 279 pp., pb. £19,99, ISBN 978-074533824

Georgios Papadopoulos.

Review of Ajit Sinha, A Revolution in Economic Theory: The Economics of Piero Sraffa, Palgrave Macmillan, 2016, x + 244 pages, ISBN 978-3319306155

Romar Correa.

Review of Altug Yalcintas, Intellectual Path Dependence in Economics: Why economists do not reject refuted theories, Routledge, 2016, hb, xiv + 173 pages, ISBN 978-1-138-01617-0

Valentin Cojanu.

Review of Mary Godwin, Ethics and Diversity in Business Management Education. A Sociological Study with International Scope, Heidelberg, Springer-Verlag, 2015, eb, x + 94 pages, ISBN 978-3-662-46654-4

Stipe Buzar.

Review of Potrošačka kultura i konzumerizam [Consumer Culture and Consumerism], edited by Snježana Čolić, Institute of Social Sciences Ivo Pilar, Zagreb, 2013, pb, ISBN 978-953-7964-00-9, 206 pages

Ana Maskalan.

Review of Dani Rodrik, Economics Rules: Why Economics Works, When It Fails, and How to Tell the Difference, Oxford University Press, 2015, hb, ISBN 978-0-19-873689-9, xi+253 pages

Dorin Iulian Chiriţoiu.

Review of J. E. King, Advanced Introduction to Post Keynesian Economics, Cheltenham (UK), Edward Elgar Publishing, 2015, pb, ISBN 978-1-78254-843-0, x + 139 pages

Valentin Cojanu.

Review of The Anthropocene and the Global Environmental Crisis: Rethinking modernity in a new epoch, edited by Clive Hamilton, Christophe Bonneuil and François Gemenne, Routledge, London, 2015, pbk, ISBN 978-1-138-821124-8, pp. 187+xi

Valentin Cojanu.

Review of Philip Mirowski, Never Let a Serious Crisis Go to Waste: How Neoliberalism Survived the Financial Meltdown, New York, Verso, 1st edition, 2013, ISBN: 978-1-781-68079-7, 384 pages

Şerban Brebenel.

Review of Abdul Azim Islahi, History of Islamic Economic Thought: Contributions of Muslim Scholars to Economic Thought and Analysis, Edward Elgar, Cheltenham (UK), hb, 2014, ISBN 9781784711375, viii+125 pages

Valentin Cojanu.

Review of Jérôme Ballet, Damien Bazin, Jean-Luc Dubois, and François-Régis Mahieu, Freedom, Responsibility and Economics of the Person, London, Routledge, ebk, 2014, 174 pp., ISBN 978-0-203-79633-7

Carmen Dorobăţ.

Review of Joseph E. Stiglitz and Bruce C. Greenwald, Creating a Learning Society: A New Approach to Growth, Development and Social Progress, New York, Columbia University Press, 2014, hb, 34.95$, 680 pp., ISBN 978-0-231-15214-3

Alina Toarna.

Review of Cheryle Desha and Karlso ‘Charlie’ Hargroves, Higher Education and Sustainable Development: A model for curriculum renewal, London: Routledge, 2014, 268 pp., hb, $180.00, 9781844078592, pb, $49.95, ISBN 9781844078608

R Di Collalto.

Review of Ole Bjerg, Making Money: The Philosophy of Crisis Capitalism, London: Verso, 2014, 256 pp., pb, £19.99, ISBN 9781781682654

Georgios Papadopoulos.

Review of David Stuckler and Sanjay Basu, The Body Economic: Why Austerity Kills, New York, Basic Books, 2013, hb, 240 pp., $26.99, ISBN 9780465063987

Jorge Tamames.

Review of Resilient Liberalism in Europe’s Political Economy, edited by Vivien A. Schmidt and Mark Thatcher, New York, Cambridge University Press, 2013, 469 pp., $32.99, ISBN 9781107613973

Chantel Pheiffer.

Review of The Elgar Companion to Recent Economic Methodology, edited by John B. Davis and D. Wade Hands, Cheltenham, UK; Northampton, MA, USA, Edward Elgar, 2011, hb, 542 pp., ISBN 9781848447547

Lucia Ovidia Vreja.

Review of Mark Blyth, Austerity. The History of a Dangerous Idea, New York: Oxford University Press, 2013, 304 pp., hb, $16.95, ISBN 9780199828302

Juan Blanco.

Review of The Social Sciences and Democracy, edited by Jeroen Van Bouwel, London, Palgrave Macmillan, 2009, 268 pp., £58 hb, ISBN 9780230224391

Ioana Negru.
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Review of James E. Alvey, A Short History of Ethics and Economics: The Greeks, Cheltenham (UK), Edward Elgar Publishing, 2011, x+184 pp, hb, ISBN 9781847202017

Dragoș Bîgu.
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Review of Pranab Bardhan, Awakening Giants, Feet of Clay: Assessing the Economic Rise of China and India, Princeton, NJ, Princeton University Press, 2010, 172pp, hb, ISBN 9780691129945

Géraud Bablon.
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Review of Vito Tanzi, Government versus Markets -The Changing Economic Role of the State, New

Xavier Landes.
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Review of Paul Turpin, The Moral Rhetoric of Political Economy: Justice and Modern Economic Thought, Routledge, London & New York, 2011, pp. 163

Sergiu Bălan.

Review of Amitava Krishna Dutt and Benjamin Radcliff (eds.), Happiness, Economics and Politics. Towards a Multi-Disciplinary Approach, Edward Elgar Publishing, 2009, 362 pp.

Elena Nicolae.
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Review of Abhijit Banerjee and Esther Duflo, Poor Economics: A Radical Rethinking of the Way to Fight Global Poverty, Public Affairs, 2012, 303 pp.

Hannah Cockrell.
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Review of Joseph Stiglitz, Freefall: America, Free Markets, and the Sinking of the World Economy, W. W. Norton & Company, 2010, 361 pp.

Kathryn Cohen.
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Review of Eric Helleiner, Stefano Pagliari and Hubert Zimmerman (editors), Global Finance in Crisis: The Politics of International Regulatory Change, Routledge, 2010, pp. 216

Linh Dao.
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Review of Niall Ferguson, Civilization: The West and the Rest, Allen Lane, Penguin Books, London, 2011, pp. 385

Andrei Josan.
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Review of Branko Milanovic, The Haves and the Have-Nots: A Brief and Idiosyncratic History of Global Inequality, Basic Books, 2011, 258 pp.

Elizabeth Karin.
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Review of David Roodman, Due Diligence: An Impertinent Inquiry into Microfinance, Center for Global Development, 2012, 365 pp.

Annie Sholar.
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Review of Jose Huerta de Soto, The Austrian School. Market Order and Entrepreneurial Creativity, Edward Elgar Publishing, 2011, 129 pp.

Irina Ion.
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Review essay on David Laibman, Deep History: A Study in Social Evolution and Human Potential

Altug Yalcintas.
While historical materialism and evolutionism provide similar explanations and ideas regarding the cause of long-term social change, the two theories are rarely used in conjunction with one another. In Deep History, the author David Laibman addresses some of the standard questions of evolutionary social theory and attempts to bridge the two concepts, by showing that historical and materialist explanations are present in both Marxian and evolutionary interpretations of history. His goal: develop a Marxist theory of history from an evolutionist perspective, and surmount the traditional confines of historical materialism, so as to embrace evolutionary conceptions in explaining social change. However, the unbalanced research methodology limits the reach and depth of Laibman's contribution. The two main shortcomings of his work are discussed in the following sections: The Audience Problem and The Evolutionary Problem.

A Review of Christian Arnsperger, Full Spectrum Economics. Towards an Inclusive and Emancipatory Social Science, Routledge, 2010, 277 pp.

Irina Zgreabãn.
Many brilliant economists today do recognize that economics need to be reformed, but the vast majority of scientific works is still captive into the absolute rigor of the Cartesian paradigm and the finery of the Newtonian models. In this context, Christian Arnsperger's book aims to be a guide in the efforts to conceptually renew economics. As part of this endeavour, he pursues ambitiously to build a new sub-discipline within the economic science-Full Spectrum economics. The writing is mainly constructed on a critical and consistent review of the philosophical principals of scientific materialism and mainstream monism, on which Western Enlightenment was built, and of the current research methodologies applied in economics and founded on these principles. Enlightenment is disregarded as being based on mathematical formalism that looks for "characteristic universalis" (Descartes), absent from real world. The book is also a struggle to holism and transdisciplinarity, being indeed an enriching experience in logics, philosophy, psychology and economics.

A Review of Jean-François Ponsot and Sergio Rossi (eds), The Political Economy of Monetary Circuits: Tradition and Change in Post-Keynesian Economics, Basingstoke, Palgrave Macmillan, 2009, 264 pp.

Rémi Stellian.
Admittedly, economics first aims at solving empirical problems-for instance, what are the causes of unemployment?-and, to this purpose, it elaborates on the principles of the working of the economy. Now, this book suggests a modern conception of economics, called 'monetary analysis'. According to the latter, the fundamental principles of the working of the economy are inseparable from money, while this primacy of money entails a specific way of solving empirical problems.

A review of David Colander, The Making of a European Economist, Cheltenham, UK, Edward Elgar, 2009, 190 pp.

Mariana Nicolae.
David Colander's book on The Making of a European Economist is somehow a natural continuation of his by now classic studies on economics education in the US and of his book The Making of an Economist, Redux [1]. The book is fascinating to read not only by someone like me who is not really an economist, but has been close to the field and has been teaching students of economics for a long time, but mainly by policy makers both in the field of higher education and in other fields like business where the larger aspects of societal changes are more and more apparent.

A review of George A. Akerlof and Robert J. Shiller, Animal Spirits: How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism, Princeton University Press, 2009, 264 pp.

Cornel Ban.
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A Review of Moral Markets: the Critical Role of Values in the Economy, Edited by Paul J. Zak, Princeton/ Oxford, Princeton University Press, 2008, 386 pp

Thomas Wells.
It is well known that economics does not understand values. It turns out, however, that a main reason for this is that it has not understood markets either. This collection of literature reviews, essays, and original research from the fields of primatology, philosophy, law, and economics grapples with the vexed relationship of values and markets but doesn't quite succeed in addressing it. While there is plenty of wisdom scattered across the different contributions, as a book it fails in its interdisciplinary task of integrating these nuggets, and it fails also to include all the disciplines which would seem to be relevant sources of insight.

A Review of The Genesis of Innovation: Systemic Linkages between Knowledge and the Market, Edited by Blandine Laperche, Dimitri Uzunidis, Nick von Tunzelmann, Cheltenham UK, Edward Elgar, 2008, 285 pp.

Dana Gârdu.
Though almost onecentury old, the Schumpeterian statement that innovation is the true driver of welfareenhancing economic development captures the essence of today's knowledge economy. In his acceptation innovation refers to new combinations conducive to new products, new production processes, new markets, new organizational forms, and the discovery of new resources. Currently the fierce global race challenges nationstates and transnational corporations (TNC) to engage in the management of innovation in order to secure competitive advantages, hence their recurrent initiatives in science and technology (S&T)/innovation policies, and regional development. In a bestcase scenario this endeavour produces innovative milieux underpinned by vibrant interactions among major players (companies, research organizations, local communities, regional and central governments, etc.), and integrates them into other networks spawning knowledge externalities.

A Review of Marshall and Schumpeter on Evolution: Economic Sociology of Capitalist Development, Edited by Yuichi Shionoya and Tamotsu Nishizawa, Cheltenham UK, Edward Elgar, 2008, 285 pp.

Andreas Stamate.
Joseph Alois Schumpeter (18831950) and Alfred Marshall (18421924) had more or less successfully delivered to humanity their vision about evolution and made connections between this and other concepts which deserve attention, such as development or capitalism. The volume Marshall and Schumpeter on Evolution: Economic Sociology of Capitalist Development is a tool for starting to understand these connections, and at the same time for observing the differences, if any, between the two.

A review of Stephen T. Ziliak and Deirdre N. McCloskey, The Cult of Statistical Significance. How the Standard Error Costs Us Jobs, Justice, and Lives, The University of Michigan Press, Ann Arbor, 2008, 320 pages

Tamás Dusek.
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A review of Peter Söderbaum, Understanding Sustainability Economics. Towards Pluralism in Economics, London, Sterling/VA: earthscan, 2008, 158 pages

Karl Zinn.
It is almost impossible to read Söderbaum´s lucid critique of neoclassical economics and neoliberalism without having in mind the recent economic crisis as the background of his attack against the short-sightedness and inhuman corollaries of mainstream economics.

A review of Ralph Harris in His Own Words, the Selected Writings of Lord Harris, Edited by Colin Robinson, Cheltenham, UK, Edward Elgar and the Institute of Economic Affairs, 2008, 343 pages

Valentin Cojanu.
To many people market liberalism may seem a hard sell in our times, looking like a menace rather than an opportunity. It may require an extraordinary personality, shaped by a limitless altruism, to admit that the riches of a few could have been accumulated if more entrepreneurship existed. That was probably the lesson Schumpeter had drawn after leaving behind a bankrupt private bank in 1924, after a four-year stint as its president, and heading for academic recognition. Fact is that, if we count from the 1930s, more than eighty years of dominance of liberal thinking in the discipline of economics have left both ordinary people and scholars with a lingering sense of perplexity. Asking about the resilience of mainstream economics may sound tautological but noted thinkers did not refrain from doing the very same. John Stuart Mill knew that ideas had to wait for "circumstances to conspire in their favour" (p. 208) [1] and J.M. Keynes observed: "The power of vested interests is vastly exaggerated compared with the gradual encroachment of ideas…soon or late, it is ideas, not vested interests, which are dangerous and for good or evil." Along the way, Hayek thought in his essay on intellectuals and socialism (1949), "it is no exaggeration to say that once the more active part of the intellectuals has been converted to a set of beliefs, the process by which these become generally accepted is almost automatic and irresistible" (p. 40).

Book review: Gilles Dostaler, Keynes and his battles, Edgar Elgar, Cheltenham, UK, Northampton, MA, USA, 2007, 384 pages

Mircea Maniu.
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Book review: Cristina Neesham, Human and social progress: projects and perspectives, VDM Verlag , Saarbrücken, 2008, 220 pages

James Moulder.
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Book review: Akop P. Nazaretyan, Anthropology of violence and culture of self-organization. Essays in evolutionary historical psychology, 2nd edition, Moscow, URSS, 2008, 256 pages (in Russian)

Andrey Korotayev.
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