Angrynomics, Book Review with co-author Eric Lonergan

Why are measures of stress and anxiety on the rise, when economists and politicians tell us we have never had it so good? While statistics tell us that the vast majority of people are getting steadily richer the world most of us experience day-in and day-out feels increasingly uncertain, unfair, and ever more expensive. In Angrynomics, Mark Blyth and Eric Lonergan explore the rising tide of anger, sometimes righteous and useful, sometimes destructive and ill-targeted, and propose radical new solutions for an increasingly polarized and confusing world.

Angrynomics, where the hell do we go from here?

I spoke with co-author Eric Lonergan who spent the best part of a year with his colleague Mark Blyth looking at why the world was getting more and more angry. They divided the anger into two different types: private and public. With regard to the first, they reckoned that private anger might result in a friend taking you to one side and having a word, but the public anger was a lot more interesting. Again they divided this anger into two components – righteous anger that looked to protect the common good and destructive tribal anger that did the opposite.

Eric examples Trump feeding into anger in the Rust Belt where jobs had been lost and industries closed. He took that anger but then turned it against emigrants creating a destructive force.

Both co-authors agreed the triggering for much of this anger happened in 2008 where the common man was sacrificed in favour of the banks that were too big to fail.

Capitalism, they argued, was a bit like a computer and every so often needs to be rebooted when it crashes.

To purchase the book – visit here

Eric Lonergan is a macro hedge fund manager, economist, and writer. His previous publications include Money (2nd ed) published by Routledge. He has written for Foreign Affairs, The Financial Times, and The Economist.

He also advises governments and policymakers. Find out more about Eric and his book here https://www.philosophyofmoney.net/ and here https://www.amazon.co.uk/Angrynomics-Eric-Lonergan/dp/1788212797

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