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Yellen: The Trailblazing Economist Who Navigated an Era of Upheaval Hardcover – November 1, 2022
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“A vivid portrait of an exceptional woman and a lively history of the economic and financial crises that helped make the treasury secretary and former Fed chair who she is today.” —Sylvia Nasar, #1 New York Times bestselling author of A Beautiful Mind
“Captivating. . . . Part biography, part history of ideas, the book provides a fascinating window into the ways thinking on economic policy has evolved in the last 25 years. . . . A must-read for anyone seeking to understand the current economic challenges we face.” —Liaquat Ahamed, Pulitzer Prize-winning author of Lords of Finance
An engrossing and deeply human chronicle of the past fifty years of American economic and social upheaval, viewed through the consequential life of the most powerful woman in American economic history, Janet Yellen, and her unconventional partnership in marriage and work with Nobel Laureate George Akerlof.
At the dawn of the 21st century, many of America’s leaders believed that free trade, modern finance, technology, and wise government policy had paved the way for a new era of prosperity. Then came a cascade of disasters—a bursting tech bubble, domestic terror attacks, a housing market implosion, a financial system crisis, a deadly global pandemic. These events led to serial recessions, deepened America’s political fractures and widened the divide between those best off and everyone else.
Award-winning economics writer Jon Hilsenrath examines what happened, viewing events through the experiences of two historic figures: Janet Yellen was Treasury Secretary, Federal Reserve Chairwoman and Chair of the White House Council of Economic Advisers. Her husband, George Akerlof, was an imaginative Nobel prize–winning economist.
Long before the upheaval of the past two decades, Akerlof warned of flaws in modern economic thinking; then Yellen had to fix the economy on the fly as it cracked.
In telling their story, Hilsenrath explores long-running intellectual battles over the fragile balance between unruly democratic government and unpredictable markets. He introduces readers to the cast of modern intellectuals and policy makers who deciphered, shaped, and steered these systems through prosperity, chaos, and reformation. And he explains what went wrong, why, and what might happen next.
What emerges is an absorbing examination of how humans think and behave, and how those actions shape markets, inform economic policy, and could determine the future of a now-deeply divided nation.
Hilsenrath reminds us that economics is neither science nor ideology, as some once wished or promised.
Economics is an endeavor.
Most good love stories are, too.
- Print length400 pages
- LanguageEnglish
- PublisherHarper Business
- Publication dateNovember 1, 2022
- Dimensions6 x 1.26 x 9 inches
- ISBN-100063162466
- ISBN-13978-0063162464
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Editorial Reviews
Review
“A vivid portrait of an exceptional woman and a lively history of the economic and financial crises that helped make the treasury secretary and former Fed chair who she is today.” — Sylvia Nasar, #1 New York Times bestselling author of A Beautiful Mind: The Life of Mathematical Genius and Nobel Laureate John Nash
“This book provides an in-depth portrait of the person Janet Yellen and teaches us how one can be effective while maintaining a moral compass in an often bitterly contentious and rapacious political landscape. It explores economic ideas and convictions, including hers and those of her husband George Akerlof and their son Robert Akerlof. Together they are an amazing family. They make this not just a biography, but an elucidation by example of the human side of our nation's economic experience." — Robert Shiller, Nobel Prize-winning economist and New York Times bestselling author of Irrational Exuberance
“A captivating examination of the unusual intellectual partnership between Janet Yellen, one of the most consequential economic policy makers of the past quarter century, and her husband, George Akerlof, a path-breaking Nobel prize-winning economic thinker. Part biography, part history of ideas, the book provides a fascinating window into the ways thinking on economic policy has evolved in the last 25 years, as it charts how Janet Yellen navigated the economy through uncharted waters as it was being buffeted by a series of unprecedented shocks and boom-bust cycles. A must-read for anyone seeking to understand the current economic challenges we face.” — Liaquat Ahamed, Pulitzer Prize-winning author of Lords of Finance: The Bankers Who Broke the World
“My friend George Akerlof is certainly one of the most innovative thinkers in economics today, just as Janet Yellen is unbeatable as a leader of economic policymaking. Their extraordinary contributions have been individual, but their combined vision has helped America understand itself. I am fortunate also to be close with their son, the economist Robert Akerlof, a sparkling intellectual in his own right. This is an extraordinary book, full of illuminating anecdotes and perceptive insights. A true delight to read.” — Amartya Sen, Nobel Prize-winning economist, philosopher, and author of Home in the World
“A fantastic biography … I loved the book--and I suspect that people who come to it with less background might get even more out of this insightful window into the interplay of policymaking and economic ideas … I strongly recommend.” — Jason Furman, Aetna Professor of the Practice of Economic Policy, Harvard Kennedy School
“Hilsenrath’s new book on Yellen and Akerlof is a gem. It’s equal parts love story and economics book … Everyone should read it.” — Austen Goolsbee, Professor of Economics, University of Chicago, Booth School of Business.
“This well-researched portrait of a talented woman unfolds into a slice of American economic history.” — Booklist (starred review)
"A perceptive dual biography of Janet Yellen and her husband, Nobel laureate George Akerlof. Hilsenrath draws on personal interviews and abundant published material to clearly elucidate economic theories, recount Yellen’s challenges in steering the nation through economic upheaval, and convey the warmth of the family’s life. A lucid, informative portrait." — Kirkus Reviews
"Meticulous...an oft-powerful study of a key player in American economics." — Publishers Weekly
"Yellen...is an elegant and erudite depiction of [Yellen and Akerlof's] intellectual voyages in pursuit of the idea that markets can fail and that sensible government action can improve people’s lives." — The Economist
About the Author
Jon Hilsenrath is a senior writer for the Wall Street Journal, where he has been since 1997, reporting from Hong Kong, New York, and Washington, DC. He was a Pulitzer Prize finalist in 2014 for his coverage of the Federal Reserve; part of a team of 2009 Pulitzer finalists for coverage of the global financial crisis; and contributed on-the-scene reporting from the World Trade Center on September 11, 2001, which helped the WSJ win a Pulitzer in 2002. His 9/11 coverage also was featured in the book September Twelfth, by Dean Rotbart. Hilsenrath’s colleagues twice voted him among the nation’s most influential financial journalists. A nonpartisan, he has been a contributor to Fox News, Fox Business, CNBC, ABC, CBS, PBS, NPR, MSNBC, and C-SPAN. He graduated from Duke University and was a Knight-Bagehot Fellow at Columbia University.
Product details
- Publisher : Harper Business
- Publication date : November 1, 2022
- Language : English
- Print length : 400 pages
- ISBN-10 : 0063162466
- ISBN-13 : 978-0063162464
- Item Weight : 2.31 pounds
- Dimensions : 6 x 1.26 x 9 inches
- Best Sellers Rank: #540,001 in Books (See Top 100 in Books)
- #505 in Women & Business (Books)
- #691 in Economic Conditions (Books)
- #714 in Economic History (Books)
- Customer Reviews:
About the authors
Discover more of the author’s books, see similar authors, read book recommendations and more.
Senior writer for The Wall Street Journal. Formerly economics editor, markets editor, chief economic correspondent and Heard on the Street writer. Pulitzer Prize finalist in 2014 for coverage of the Federal Reserve; part of a WSJ team that was Pulitzer finalist in 2009 for coverage of the financial crisis; and contributed on-the-ground reporting to the WSJ’s 9/11 coverage which won a Pulitzer in 2002. Twice voted among the nation’s most influential financial journalists, according to surveys of fellow journalists by Gorkana.
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Customers find the biography well-written and easy to understand, particularly appreciating how it explains economic history. They describe it as an amazing and fascinating read, and one customer notes it's a great book about two great people.
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Customers appreciate how the book explains economic history through easy-to-understand stories, with one customer noting it provides a clear understanding of the confusing economy.
"...a great love story, both personally and professionally, about two remarkable economists, Janet Yellen, the most accomplished economic policymaker of..." Read more
"...only revealed an interesting family endeavor but also elucidated the complexity of the economy and the players acting in its evolution...." Read more
"...that went into the detailed history of our economy, told through easy to understand stories...." Read more
""Yellen" is much more than a great biography of an economist who has been center stage of US monetary (and now fiscal) policies for more than three..." Read more
Customers find the book to be an amazing and fascinating read.
"...That's because Jon Hilsenrath is both a terrific author but also a great explainer of some complex story. A five star in non fiction is an under-rate." Read more
"...This explains economic history in a way that is fun to read." Read more
"...I thoroughly enjoyed this book and would recommend it to anyone with even a slight interest in the “business” of our country." Read more
"...A great read." Read more
Customers enjoy the family story in the book, with one mentioning it's about two great people.
"...This book not only revealed an interesting family endeavor but also elucidated the complexity of the economy and the players acting in its evolution...." Read more
"Interesting family story and history. Easy to read and very digestible...." Read more
"A great book about two great people, a great marriage, and two great economists -- all in one book!..." Read more
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- Reviewed in the United States on November 21, 2022I know, some of you may find a general interest book about economists and economics boring, BUT NOT THIS ONE. This is a great love story, both personally and professionally, about two remarkable economists, Janet Yellen, the most accomplished economic policymaker of all time, and her Nobel prize winning husband, George Akerlof (and also their up and coming economist son, Robert Akerlof, among many others). Along the way, readers actually will enjoy a plain english tour of economic thought over the past 50 years, all painlessly, without need a college course in economics. That's because Jon Hilsenrath is both a terrific author but also a great explainer of some complex story. A five star in non fiction is an under-rate.
- Reviewed in the United States on December 13, 2022I am not an economist but a retiree. I have never taken a course in economics, but life requires some understanding of how the economy works especially for managing a retirement portfolio. This book not only revealed an interesting family endeavor but also elucidated the complexity of the economy and the players acting in its evolution. In the end it seems to evolve like a kaleidoscope, and not with mechanical precision. This explains economic history in a way that is fun to read.
- Reviewed in the United States on December 14, 2022Janet Yellen has obviously accomplished a great deal, as has Jon Hilsenrath in this book. I can’t even imagine the amount of research that went into the detailed history of our economy, told through easy to understand stories. Getting to know Janet Yellen’s background helps to explain the woman and her motivations. I thoroughly enjoyed this book and would recommend it to anyone with even a slight interest in the “business” of our country.
- Reviewed in the United States on February 6, 2023"Yellen" is much more than a great biography of an economist who has been center stage of US monetary (and now fiscal) policies for more than three decades. It is also a story of the mutual love and respect that enabled Yellen and her Nobel Laureate husband George Akelof to each fulfill their substantial life-long ambitions. In describing how her career was profoundly shaped by a lifetime of close relationships with the intellectual giants of modern economic theory, Hilsenrath weaves an insightful tale of the interplay between the exposure to abstract theory and its practical application as policy. This captivating biography rewards its readers with a close look into the personality of an important policy maker.
- Reviewed in the United States on December 13, 2022Insightful portrait of a woman whose importance in tackling the economic challenges of the 21st century will be studied for generations. The author's seemingly unique access to this intellectual couple makes the re-telling of complex economic problems seem like the solutions were in the hands of trusted and wisened family members. A great read.
- Reviewed in the United States on November 12, 2022Interesting family story and history. Easy to read and very digestible. Gives you a clear understanding of our confusing economy through the eyes of a very important woman in American history!
- Reviewed in the United States on December 12, 2022A must buy for anyone's holiday wish list! Even without the challenge of navigating the post Covid global economics headwinds, Janet Yellen's place in economic history is secure. Jon Hilsenrath tells her story in a way that anyone can appreciate, full of never disclosed before background wrapped in prescient insights and perspectives.
- Reviewed in the United States on January 13, 2023I am not an economist and found the writing very clear and understandable. This is much more than a biography but rather a review of the history of economic thought and action in the US for the last 100 years or more. After reading this, I think I would have been happy as an economist! Highly recommend.