To many, Thomas Carlyle's put-down of economics as "the dismal science" is as fitting now as it was 150 years ago. But Diane Coyle argues that economics today is more soulful than dismal, a more practical and human science than ever before. Building on the popularity of books such as Freakonomics that have applied economic thinking to the paradoxes of everyday life, The Soulful Science describes the remarkable creative renaissance in how economics is addressing the most fundamental questions--and how it is starting to help solve problems such as poverty and global warming. A lively and entertaining tour of the most exciting new economic thinking about big-picture problems, The Soulful Science uncovers the hidden humanization of economics over the past two decades. Coyle shows how better data, increased computing power, and techniques such as game theory have transformed economic theory and practice in recent years, enabling economists to make huge strides in understanding real human behavior. Using insights from psychology, evolution, and complexity, economists are revolutionizing efforts to solve the world's most serious problems by giving policymakers a new and vastly more accurate picture of human society than ever before. They are also building our capacity to understand how what we do today shapes what the world will look like tomorrow. And the consequences of these developments for human life, for governments, and for businesses are only now starting to be realized--in areas such as resource auctions, pollution-credit trading, and monetary policy.
The Soulful Science tells us how economics got its soul back--and how it just might help save the planet's.
Diane Coyle is a writer and Harvard economics Ph.D. whose books include Sex, Drugs and Economics: An Unconventional Introduction to Economics and The Weightless World: Strategies for Managing the Digital Economy. A member of the UK Competition Commission and a visiting professor at the University of Manchester, she also runs an economic consulting firm, Enlightenment Economics. A former economics editor of the Independent newspaper, she lives in London.
"The simple aim of The Soulful Science is to describe what economists do, how the field has changed in the past 10 years or so, and why you should care. It succeeds admirably."--Financial Times
Endorsements:
"At long last, economists have received credit where credit is due. Diane Coyle's authoritative, punchy, lucid, and provocative case for the vitality of today's economics and economists is like a breath of fresh air. This science is a long way from dismal and has been broadening its scope and deepening its insights for a long time. Too few people outside the discipline have noticed what has been going on. A great read, Diane Coyle's The Soulful Science will remedy that shortcoming."--Peter L. Bernstein, author of Against the Gods: The Remarkable Story of Risk
"This book will show everybody what modern economics has to offer, and might even make economists rethink the relationship between their research and the big questions in economics. The Soulful Science is very well written, impressive in its grasp of a wide range of topics, and engaging in its enthusiasm."--Paul Seabright, author of The Company of Strangers: A Natural History of Economic Life
"Easy and pleasant reading, this informed and informative book shows convincingly that economics is not the dismal science it is reputed to be. It should be required reading for all who have no training in the field but are nevertheless convinced that they are qualified to speak out on important economic issues. Students who are puzzled by their economics courses will also find the book invaluable."--William J. Baumol, author of The Free-Market Innovation Machine
"Economics has indeed been changing in exciting ways and Diane Coyle's new book will be essential reading for anyone who wants to know what has been going on and what has been achieved so far."--Paul Ormerod, author of The Death of Economics and Why Most Things Fail
