Description
Unlock the future of economics with *Cogs and Monsters*, a groundbreaking work by Diane Coyle that delves into the transformative impact of digital technologies, big data, and artificial intelligence on economic theory and practice. This insightful trade paperback, published by Princeton University Press in 2023, presents a compelling argument about the need for economists to rethink their traditional frameworks in light of the 'digital economy'. Coyle addresses the colossal challenges and remarkable opportunities presented by modern advancements, exploring topics such as pandemic recovery, economic inequality, slow growth, and the climate crisis.
Coyle challenges the outdated perception of individuals as mere 'cogs'—predictable economic agents—arguing that the complexities of contemporary society demand a view that acknowledges people as 'monsters'. These social and unpredictable elements complicate traditional economic models and call for innovative solutions. This essential read also emphasizes the importance of diversity and inclusivity in economics, crucial for developing comprehensive strategies to address the pressing issues of our time. Filled with original insights and a clear framework, *Cogs and Monsters* suggests practical adaptations to help economics thrive in the twenty-first century, making it a must-have for students, professionals, and policymakers alike.
Note: Shipping for this item is free. Please allow up to 6 weeks for delivery. Once your order is placed, it cannot be cancelled.
Note: Shipping for this item is free. Please allow up to 6 weeks for delivery. Once your order is placed, it cannot be cancelled.
Condition: BRAND NEW
ISBN: 9780691231044
Format: Trade paperback (US)
Year: 2023
Publisher: Princeton University Press
Description:
Digital technology, big data, big tech, machine learning, and AI are revolutionising both the tools of economics and the phenomena it seeks to measure, understand, and shape. In Cogs and Monsters, Diane Coyle explores the enormous problems — but also opportunities — facing economics today if it is to respond effectively to these dizzying changes and help policymakers solve the world’s crises, from pandemic recovery and inequality to slow growth and the climate emergency.
Mainstream economics, Coyle says, still assumes people are 'cogs' — self-interested, calculating, independent agents interacting in defined contexts. But the digital economy is much more characterised by 'monsters' — untethered, snowballing, and socially influenced unknowns. What is worse, by treating people as cogs, economics is creating its own monsters, leaving itself without the tools to understand the new problems it faces. In response, Coyle asks whether economic individualism is still valid in the digital economy, whether we need to measure growth and progress in new ways, and whether economics can ever be objective, since it influences what it analyses. Just as important, the discipline needs to correct its striking lack of diversity and inclusion if it is to be able to offer new solutions to new problems.
Filled with original insights, Cogs and Monsters offers a road map for how economics can adapt to the rewiring of society, including by digital technologies, and realise its potential to play a hugely positive role in the twenty-first century.
Coyle challenges the outdated perception of individuals as mere 'cogs'—predictable economic agents—arguing that the complexities of contemporary society demand a view that acknowledges people as 'monsters'. These social and unpredictable elements complicate traditional economic models and call for innovative solutions. This essential read also emphasizes the importance of diversity and inclusivity in economics, crucial for developing comprehensive strategies to address the pressing issues of our time. Filled with original insights and a clear framework, *Cogs and Monsters* suggests practical adaptations to help economics thrive in the twenty-first century, making it a must-have for students, professionals, and policymakers alike.
Note: Shipping for this item is free. Please allow up to 6 weeks for delivery. Once your order is placed, it cannot be cancelled.
Note: Shipping for this item is free. Please allow up to 6 weeks for delivery. Once your order is placed, it cannot be cancelled.
Condition: BRAND NEW
ISBN: 9780691231044
Format: Trade paperback (US)
Year: 2023
Publisher: Princeton University Press
Description:
Digital technology, big data, big tech, machine learning, and AI are revolutionising both the tools of economics and the phenomena it seeks to measure, understand, and shape. In Cogs and Monsters, Diane Coyle explores the enormous problems — but also opportunities — facing economics today if it is to respond effectively to these dizzying changes and help policymakers solve the world’s crises, from pandemic recovery and inequality to slow growth and the climate emergency.
Mainstream economics, Coyle says, still assumes people are 'cogs' — self-interested, calculating, independent agents interacting in defined contexts. But the digital economy is much more characterised by 'monsters' — untethered, snowballing, and socially influenced unknowns. What is worse, by treating people as cogs, economics is creating its own monsters, leaving itself without the tools to understand the new problems it faces. In response, Coyle asks whether economic individualism is still valid in the digital economy, whether we need to measure growth and progress in new ways, and whether economics can ever be objective, since it influences what it analyses. Just as important, the discipline needs to correct its striking lack of diversity and inclusion if it is to be able to offer new solutions to new problems.
Filled with original insights, Cogs and Monsters offers a road map for how economics can adapt to the rewiring of society, including by digital technologies, and realise its potential to play a hugely positive role in the twenty-first century.