Fault Lines

Figuring out how to deal with today's critical economic problems is perhaps the great challenge of our time. Much greater than space travel, what is at stake is the whole idea of the good life as we have known it. Immigration and inequality, globalisation and technological disruption, slowing growth and accelerating climate change - these are sources of great anxiety across the world. The resources to address these challenges are there - what we lack are ideas that will help us jump the wall of disagreement and distrust that divides us. 

Brilliant and engagingly written, Why Nations Fail answers the question that has stumped the experts for centuries: Why are some nations rich and others poor, divided by wealth and poverty, health and sickness, food and famine?

Abhijit Banerjee and Esther Duflo have pioneered the use of randomized control trials in development economics. Work based on these principles, supervised by the Poverty Action Lab, is being carried out in dozens of countries. Drawing on this and their 15 years of research from Chile to India, Kenya to Indonesia, they have identified wholly new aspects of the behavior of poor people, their needs, and the way that aid or financial investment can affect their lives. Their work defies certain presumptions: that microfinance is a cure-all, that schooling equals learning....

In this fifth edition of Basic Economics, Thomas Sowell revises and updates his popular book on commonsense economics, bringing the world into clearer focus through a basic understanding of the fundamental economic principles and how they explain our lives. Drawing on lively examples from around the world and from centuries of history, Sowell explains basic economic principles for the general public in plain English.

These are dangerous times for democracy. We live in an age of winners and losers, where the odds are stacked in favour of the already fortunate. Stalled social mobility and entrenched inequality give the lie to the promise that 'you can make it if you try'. And the consequence is a brew of anger and frustration that has fuelled populist protest, with the triumph of Brexit and election of Donald Trump.

From the matter of environmental jurisprudence and custodial deaths to the controversial topic of reservations, the author deals extensively with each case in the 10 essays and points out the effects that the Supreme court’s final verdicts produced. The book describes how the Indian judicial system is capable of impacting the lives of the millions that thrive under this democracy and succeeds in restoring the listener’s faith on the legal system of the nation. The internal affairs that go about in each case, which otherwise escape scrutiny, have been shed light on through the book.

Everybody Loves a Good Drought is the established classic on rural poverty in India. Twenty years after publication, it remains unsurpassed in the scope and depth of reportage, providing an intimate view of the daily struggles of the poor and the efforts, often ludicrous, made to uplift them. An illuminating introduction accompanying this 20-anniversary edition reveals, alarmingly, how a large section of India continues to suffer in the name of development so that a small percentage may prosper.

Tamal Bandyopadhyay chronicles HDFC Bank’s own digital disruption exercise through the very people who drove it, narrating a story that’s as compelling as unique in India’s financial system. With his keen eye for detail, deep knowledge of banking and unparalleled storytelling ability, Bandyopadhyay recounts the journey of India’s most valued lender from a life cycle bank to a lifestyle bank. 

A major new collection of essays by Ramachandra Guha, Democrats and Dissenters is a work of rigorous scholarship on topics of compelling contemporary interest, written with elegance and wit. The audiobook covers a wide range of themes: from the varying national projects of India's neighbors to political debates within India itself, from the responsibilities of writers to the complex relationship between democracy and violence. 

This audiobook is about luck, or more precisely, how we perceive and deal with luck in life and business. It is already a landmark work, and its title has entered our vocabulary. In its second edition, Fooled by Randomness is now a cornerstone for anyone interested in random outcomes.

For nine years, Rajat Gupta led McKinsey & Co. - the first foreign-born person to head the world’s most influential management consultancy. He was also the driving force behind major initiatives such as the Indian School of Business and the Public Health Foundation of India. A globally respected figure, he sat on the boards of distinguished philanthropic institutions such as the Gates Foundation and the Global Fund to Fight AIDS, Tuberculosis and Malaria, and corporations including Goldman Sachs, American Airlines, and Procter & Gamble.

Dr Bhimrao Ramji Ambedkar was one of the most remarkable figures in the 20th century. Born an Untouchable - the lowest element of Indian society deemed to be outside the caste system, and literally 'untouchable' - he rose from abject village poverty to become the architect of the new Constitution of India following its independence from Britain in 1947. A combination of exceptional talent, hard work and determination, vision and luck took him to Harvard and the LSE, and then back to his home country.

P. V. Narasimha Rao (or PV, as he was popularly known) has been widely praised for enabling the economic reforms that transformed the country in 1991. From the vantage point of his long personal and professional association with the former prime minister, best-selling author Sanjaya Baru shows how PV's impact on the nation's fortunes went way beyond the economy.

Written by Singh’s media adviser and trusted aide, the book describes Singh’s often troubled relations with his ministers, his cautious equation with Sonia Gandhi, and how he handled the big crises from managing the left to pushing through the nuclear deal. Insightful, acute, and packed with political anecdotes, The Accidental Prime Minister is one of the great insider accounts of Indian political life.

Spread through the public in the form of popular stories, ideas can go viral and move markets - whether it's the belief that tech stocks can only go up or that housing prices never fall. Whether true or false, stories like these - transmitted by word of mouth, by the news media, and increasingly by social media - drive the economy by driving our decisions about how and where to invest, how much to spend and save, and more. But despite the obvious importance of such stories, most economists have paid little attention to them. Narrative Economics sets out to change that.