Economies beyond economics: Review of Mass Flourishing , How grassroots innovation created jobs, challenge and change by Edmund Phelps, Princeton University Press, 378p.

Abstract

Mass Flourishing is a deceptive title for a remarkable book. It covers several centuries of thought; has a range that moves from economics into politics, literature and philosophy; places short-term events on a long timeline; helps understand the implications of patchwork policies over the fabric of economies. The book engages with the concept of a "modern economy". How do we achieve happiness and a just and equitable society? The process of unravelling modern economy leads to a discussion of multiple ideas: Capitalism, Socialism, Marxism, Corporatism are all discussed in the context of economic growth, common good and happiness. Prof Phelps uses data, but also draws on art and literature to assess how people were perceiving the changes. Read more at: https://www.business-standard.com/article/beyond-business/economies-beyond-economics-113120501024_1.html