Ribin N. Ondwari’s Post

The Men's Book Breakfast ~ The MBB, #WhyNationsFail the book focuses on how some countries have managed to achieve high levels of prosperity, while others have consistently failed. Technology as a factor of economic development: politics & pluralistic political institutions and how you cannot separate politics from the economics of a nation. So far, the book has been amazing, especially on explaining institutional economics, development economics and the effect of economic history on the development of nations. Thanks for the last discussion summary Ribin N. Ondwari, this is well captured.

New Economy New Systems was launched in April 2022. 📖 It was written collaboratively by the Fellows of The Schumacher Institute. The authors and commentators will reflect on the issues across several themes. They will discuss what they found out in the process of writing and explore how relevant this is to what is happening now ..and what future agendas this all suggests. Join us on March 12th and March 19th at 4pm. #systemsthinking #thinkinginsystems #ukeconomy #circulareconomy #systemsthinkingapproach

📚 Recent Reads: June & July 2024 📚 📖 I’ve had the chance to dive into several thought-provoking books over the past couple of months. Here are the highlights!! 👇👇 1. The Usefulness of the Useless, by Nuccio Ordine (💎💎💎💎) This book challenges the modern emphasis on utility and productivity, celebrating the intrinsic value of knowledge and the arts. Ordine’s eloquent arguments remind us that the most "useless" things often bring the greatest meaning and joy to our lives. 2. The Little Book of Bull Moves in Bear Markets: How to Keep Your Portfolio Up When the Market Is Down, by Peter Schiff Schiff (💎💎) It provides practical strategies for navigating market downturns. His insights into economic cycles and investment principles are both timely and invaluable, especially in today’s volatile financial landscape. 3. Anatomy of the State, by Murray Rothbard (💎💎💎💎) A powerful critique of government power, Rothbard’s work delves into the nature of the state and its impact on individual freedom. This book is a must-read for anyone interested in libertarian thought and the dynamics of political authority. 4. The Expansion of the Battlefield, by Michel Houellebecq (💎💎💎💎) Houellebecq’s novel explores themes of alienation and the bleak realities of modern life. His stark, provocative prose offers a compelling, albeit unsettling, portrait of contemporary society. 5. Representations of the Intellectual, by Edward Said (💎💎💎💎💎) Although I was familiar with him and his line of thought, this is the first book I read from Said, and I love the author already! Said examines the role of intellectuals in society, advocating for critical thinking and moral courage. His reflections on the responsibilities and challenges faced by intellectuals are both inspiring and thought-provoking. 6. The Origins of Money, by Carl Menger (💎💎💎💎💎) Arguably the founder of the Austrian School of Economics, Menger’s analysis of the emergence and development of money provides a foundational understanding of economic principles. This book is an essential read for anyone interested in the history and evolution of money. 7. The Economy in One Lesson, by Henry Hazlitt (💎💎💎💎) Another great economist, Hazlitt’s classic work simplifies complex economic concepts, making them accessible to a broader audience. His clear, concise explanations are a great introduction to economic literacy and sound policy-making. 🏖️ What are you reading this summer? Let’s discuss! #BookReview #SummerReading #Economics #Literature #IntellectualThought

This is a really fascinating analysis coming from Fareeds new book

Aperture's Book of the Month for November 2024 For our penultimate book of 2024 we turn to the political economist Mariana Mazzucato whose concept of ‘mission based’ government has recently been adopted eagerly by the current UK government. ‘Mission Economy’ (Allen Lane, 2021) urges reform of the relationship between government and the private sector. She has a clear political agenda, where government sets ambitious goals around significant societal challenges, and incentivises the private sector to innovate towards their resolution. Our interest, however, is in the underlying theme of a systems approach to market growth. We were looking forward to reading her book as bringing much needed systems perspective to government. Unfortunately, we were disappointed. In principle, setting out a future desired outcome, and then conducting activities to affect relationships in the market is a systems thinking approach. A ‘mission based’ approach by government is dangerous if it moves too quickly from ‘mission’ to action without actively managing the effect that is created along the way. Mazzucato offers little to address this. The example of NASA’s Apollo programme briefs well, but that was a complicated problem set in a largely technological arena, with relatively consistent boundaries. A predominantly social system, with all its complex adaption and the unpredictable emergence of new behaviours, is a very different scale of challenge. ‘Mission Economy’ presumes a benign and unitary operating environment; in contrast, the political arena is fiercely competitive and coercive. Mazzucato’s prescription for a mission-focused government will be compelling to many in advocating a multi-disciplinary approach to the most intractable challenges faced by society. But the detail is dangerous. There is a particular problem if the term ‘mission’ replaces ‘policy’ to imply novelty; using different words doesn’t change the challenge that government has had for decades in constructing and pursuing sustainable and integrated policy. Those demons are buried deeper. There is also the problem of who sets the mission in the first place; it's not just the relationship between the public and private sectors that requires re-definition but that with civil society and the electorate. On the face of it Mazzucato’s premise will be attractive, especially to systems thinkers, but if adopted piecemeal there is potential to hijack the concept to serve purely political intent. That would doing a grave disservice to a sorely needed systems approach. Mission Economy’ is recommended as a perspective to consider, but the message is clear: beware political economists bearing gifts. Were it to be consulted, the systems thinking community offers much less perilous advice. Aperture Strategy Ltd #aperturestrategy #fourframes #strategydesign #sensemaking #navigatingcomplexity #systemsthinking

Aperture's Book of the Month for November 2024 For our penultimate book of 2024 we turn to the political economist Mariana Mazzucato whose concept of ‘mission based’ government has recently been adopted eagerly by the current UK government. ‘Mission Economy’ (Allen Lane, 2021) urges reform of the relationship between government and the private sector. She has a clear political agenda, where government sets ambitious goals around significant societal challenges, and incentivises the private sector to innovate towards their resolution. Our interest, however, is in the underlying theme of a systems approach to market growth. We were looking forward to reading her book as bringing much needed systems perspective to government. Unfortunately, we were disappointed. In principle, setting out a future desired outcome, and then conducting activities to affect relationships in the market is a systems thinking approach. A ‘mission based’ approach by government is dangerous if it moves too quickly from ‘mission’ to action without actively managing the effect that is created along the way. Mazzucato offers little to address this. The example of NASA’s Apollo programme briefs well, but that was a complicated problem set in a largely technological arena, with relatively consistent boundaries. A predominantly social system, with all its complex adaption and the unpredictable emergence of new behaviours, is a very different scale of challenge. ‘Mission Economy’ presumes a benign and unitary operating environment; in contrast, the political arena is fiercely competitive and coercive. Mazzucato’s prescription for a mission-focused government will be compelling to many in advocating a multi-disciplinary approach to the most intractable challenges faced by society. But the detail is dangerous. There is a particular problem if the term ‘mission’ replaces ‘policy’ to imply novelty; using different words doesn’t change the challenge that government has had for decades in constructing and pursuing sustainable and integrated policy. Those demons are buried deeper. There is also the problem of who sets the mission in the first place; it's not just the relationship between the public and private sectors that requires re-definition but that with civil society and the electorate. On the face of it Mazzucato’s premise will be attractive, especially to systems thinkers, but if adopted piecemeal there is potential to hijack the concept to serve purely political intent. That would doing a grave disservice to a sorely needed systems approach. 'Mission Economy’ is recommended as a perspective to consider, but the message is clear: beware political economists bearing gifts. Were it to be consulted, the systems thinking community offers much less perilous advice. Aperture Strategy Ltd #aperturestrategy #fourframes #strategydesign #sensemaking #navigatingcomplexity #systemsthinking

Happy to share that last week I participated and presented a paper at the European Public Choice Society Annual Meeting that took place in lovely Vienna. The paper titled “Distributional aspects of rent seeking activities in an RBC model” and co-authored with Apostolis Philippopoulos and Vanghelis Vassilatos, primarily explores the effects of publicness of public assets, such as public consumption, public investments and public transfers, in trigerring rent seeking activities and secondly aims to assess the implications of rent seeking activities to the macroeconomy and income inequality. A notable finding is that rent seeking is indeed a friction in the economy that exerts negative impact in macroeconomic variables such as output, investment and productive time. Moreover, engaging in rent seeking activities, whilst it may look beneficial in terms of increasing income through the acquisition of an extracted common pool such as public assets, in the end it may prove to be self defeating due to detrimental effects rent seeking activities exert to asset prices and returns. Attending the conference provided me with the opportunity to connect with esteemed researchers in the fields of public economics and economic policy. We engaged in enriching discussions on topics ranging from digitalization to climate policy and regional economics, exchanging valuable insights and ideas.

In this post, we look at books that predicted the future.

Join us in congratulating Robert Inklaar, who was appointed as editor of the journal Review of Income and Wealth. Starting August 1, Inklaar will be one the two co-editors of the Review of Income and Wealth. This journal is dedicated to advancing knowledge on economic measurement, with studies on national income, wealth and inequality. As the official journal of the International Association of Research in Income and Wealth, it advances research in economic and social accounting, including the development of concepts and definitions for the measurement and analysis of income and wealth. The association also has the objective to further the development and integration of systems of economic and social statistics, and related problems of statistical methodology. Inklaar: “This journal’s focus on economic measurement is a strong and unique focus. This makes it the pre-eminent place for scholars interested in understanding and improving our measurement of concepts like economic growth and inequality. It is a great honor to soon be in a position to help chart this journal’s course.” The journal has an international readership and focuses on comparative analyses between countries. Inklaar’s area of expertise is on the economics of productivity and welfare, aiming to understand differences in economic development across countries. In his work, he has, for instance, focused on measuring cross-country income differences, studying the role of these differences in the availability of human and physical capital, analyzing the productivity slowdown and measurement of productivity in the public sector. #IncomeAndWealth #EconomicMeasurement #Inequality

I just finished reading Atlas Shrugged by Ayn Rand, and 'holy smokes!'. 🤯 Here is why it is my favorite book 📕 : 1. Relevance to Contemporary Governance 🏛 : Rand’s critique of centralization and the consolidation of decision-making power among a small group of experts is particularly pertinent today. In an era where governmental and institutional centralization is on the rise, Rand’s argument for the importance of proximity—whether in terms of time, geography, or cultural understanding—to the consequences of decisions remains crucial. Effective decision-making often requires an intimate understanding of the issues at hand, something that centralized authorities might lack. 2. Industrialists and Innovation 💼 : “Atlas Shrugged” highlights the often-overlooked contributions of industrialists—those who drive progress through sheer determination and innovation. In today’s society, there’s a tendency to retrospectively judge the actions of successful individuals, overlooking the immense challenges and failures they faced along the way. Rand argues that instead of demonizing these producers, we should recognize their grit and resilience. They should be celebrated for their contributions or, at the very least, allowed to operate without undue hindrance. 3. Engaging and Thought-Provoking Narrative 🤔 : The length of “Atlas Shrugged” is daunting, yet it captivates the reader by delving into values, principles, and personal philosophy. The book’s ability to maintain attention through its exploration of what truly matters in life—beyond mere entertainment—demonstrates its depth and significance. It’s not just a story; it’s a discourse on the foundational elements that drive human endeavor and societal progress. In conclusion, “Atlas Shrugged” is more than a novel; it’s a powerful commentary on the dynamics of power, the role of innovators, and the essence of human values. Its insights remain incredibly relevant, urging us to reflect on how we structure our societies and honor those who propel us forward. Feel free to add any personal insights or experiences with the book!