Mohamed A. Elerian

Chief Economic Adviser to Allianz. President-Elect of Queens’ College, Cambridge University. Authored "When Markets Collide" and “The Only Game in Town.”

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Book Recommendations:

MA

Recommended by Mohamed A. Elerian

Looking forward to reading @lionelbarber’s book. The excerpts in the @FT were so interesting. https://t.co/dRfTwZ3tZr (from X)

Lionel Barber was Editor of the Financial Times for the tech boom, the global financial crisis, the rise of China, Brexit, and mainstream media's fight for survival in the age of fake news. In this unparalleled, no-holds-barred diary of life behind the headlines, he reveals the private meetings and exchanges with political leaders on the eve of referendums, the conversations with billionaire bankers facing economic meltdown, exchanges with Silicon Valley tech gurus, and pleas from foreign emissaries desperate for inside knowledge, all against the backdrop of a wildly shifting media landscape.

MA

Recommended by Mohamed A. Elerian

Was delighted to read this pre-release copy of @StephanieKelton’s new book. Remarkable in its content and timing, it is a must read for those interested in economic policy issues ... and will be even more so as the #CoronaVirus thrusts #MMT into the spotlight. #economy https://t.co/9VdKvGikcj (from X)

A New York Times Bestseller The leading thinker and most visible public advocate of modern monetary theory -- the freshest and most important idea about economics in decades -- delivers a radically different, bold, new understanding for how to build a just and prosperous society. Stephanie Kelton's brilliant exploration of modern monetary theory (MMT) dramatically changes our understanding of how we can best deal with crucial issues ranging from poverty and inequality to creating jobs, expanding health care coverage, climate change, and building resilient infrastructure. Any ambitious proposal, however, inevitably runs into the buzz saw of how to find the money to pay for it, rooted in myths about deficits that are hobbling us as a country. Kelton busts through the myths that prevent us from taking action: that the federal government should budget like a household, that deficits will harm the next generation, crowd out private investment, and undermine long-term growth, and that entitlements are propelling us toward a grave fiscal crisis. MMT, as Kelton shows, shifts the terrain from narrow budgetary questions to one of broader economic and social benefits. With its important new ways of understanding money, taxes, and the critical role of deficit spending, MMT redefines how to responsibly use our resources so that we can maximize our potential as a society. MMT gives us the power to imagine a new politics and a new economy and move from a narrative of scarcity to one of opportunity.

MA

Recommended by Mohamed A. Elerian

Good morning Three charts from the @FT 's "Ten charts that tell the story of 2019." (If you are interested in the third one in particular, you may find Shoshana Zuboff's book, "The Age of #SurveillanceCapitalism ," an interesting read #economy #trade #china #us #FacialRecognition https://t.co/HAQmIuV7dT (from X)

The challenges to humanity posed by the digital future, the first detailed examination of the unprecedented form of power called "surveillance capitalism," and the quest by powerful corporations to predict and control our behavior. In this masterwork of original thinking and research, Shoshana Zuboff provides startling insights into the phenomenon that she has named surveillance capitalism. The stakes could not be higher: a global architecture of behavior modification threatens human nature in the twenty-first century just as industrial capitalism disfigured the natural world in the twentieth. Zuboff vividly brings to life the consequences as surveillance capitalism advances from Silicon Valley into every economic sector. Vast wealth and power are accumulated in ominous new "behavioral futures markets," where predictions about our behavior are bought and sold, and the production of goods and services is subordinated to a new "means of behavioral modification." The threat has shifted from a totalitarian Big Brother state to a ubiquitous digital architecture: a "Big Other" operating in the interests of surveillance capital. Here is the crucible of an unprecedented form of power marked by extreme concentrations of knowledge and free from democratic oversight. Zuboff's comprehensive and moving analysis lays bare the threats to twenty-first century society: a controlled "hive" of total connection that seduces with promises of total certainty for maximum profit -- at the expense of democracy, freedom, and our human future. With little resistance from law or society, surveillance capitalism is on the verge of dominating the social order and shaping the digital future -- if we let it.