The Economic Imagination

"By turns informative, infuriating and inspirational, Murphy, Peters and Marginson's Imagination is clearly the most critical of the three volumes in the series. Perhaps as a result, it is very good to think with." Andrew Miler, Professor of Cultural Studies, Monash University --Book Jacket.

Since economies are dynamic processes driven by creativity, social norms, and emotions as well as rational calculation, why do economists largely study them using static equilibrium models and narrow rationalistic assumptions? This book argues that economists should look for new techniques in Romantic poetry and philosophy.

Economic inequality is at a record high in the United States, but public demand for redistribution is not rising with it. Meghan Condon and Amber Wichowsky show that this paradox and other mysteries about class and US politics can be solved through a focus on social comparison. Powerful currents compete to propel attention up or down—toward the rich or the poor—pulling politics along in the wake. Through an astute blend of experiments, surveys, and descriptions people offer in their own words, The Economic Other reveals that when less-advantaged Americans compare with the rich, they become more accurate about their own status and want more from government. But American society is structured to prevent upward comparison. In an increasingly divided, anxious nation, opportunities to interact with the country’s richest are shrinking, and people prefer to compare to those below to feel secure. Even when comparison with the rich does occur, many lose confidence in their power to effect change. Laying bare how social comparisons drive political attitudes, The Economic Other is an essential look at the stubborn plight of inequality and the measures needed to solve it.

The book explores the role of leisure in modern life. It was written in the belief that leisure sets us apart as a species, that what is “useless” by commercial standards is probably the best thing we have going for us, and that leisure is under attack, in high danger of being lost, and has been for some time (since at least the end of the Second World War). The source of the problem is the ascendancy of the economic imperative, the subordination of the science of means (philosophy) by the science of ends (economics). The book argues that our leisurely impulse has been so squandered that boredom is now a significant problem in modern life. The essays canvass the distinctive contributions of art, science and religion, and provide a synthetic account of these three forces driving human culture. Although the book covers the science/religion question, this book differs from others on the science/religion debate in that it connects the traditional discussion to questions of economics and social policy. It takes an innovative approach in weaving the fundamentals of human life (art, science, economics and so on) into one fabric, namely, leisure.

Companies constantly present technological developments-new materials, new mechanisms, and new ways to enhance existing products and services. Yet these seldom lead to truly new ideas. Why? Humans are all born with creative instincts, but in the interest of efficient and predictable productivity, institutions such as schools and businesses routinely hinder those impulses. The most innovative products and services, authorAlexander Manuargues, arise out of the behaviors of play--the ability to imagine, without limits, the question "What if&?" Manu's engaging and inspiring book offers companies a wealth of practical advice and tactics to unleash their full creative potential and break ahead of the crowd. Manu's provocative, insightful applied methodologies for creating new business opportunities and transformative innovations gain resonance from real-world scenarios and conversations with leading innovators such as MIT's Mitchel Resnick. Readers will learn strategies to: Open their companies' eyes to unseen opportunities Spark the imagination and trigger the potential of product innovation teams Turn inspired ideas into successful products and services. Imagination Challengeis an AIGA Design Press book, published under Peachpit's New Riders imprint in partnership with AIGA.