The Economists' Hour by Binyamin Appelbaum

Extended Synopsis

In The Economists' Hour, Binyamin Appelbaum unpacks the intellectual revolution that saw economists transition from obscure academics to primary architects of global policy. Spanning from the influence of Milton Friedman to Arthur Laffer, the book examines how free-market philosophy actively reshaped government, business, and international trade.

Appelbaum masterfully details how these policies dismantled government regulations and empowered corporations with the promise of endless economic growth. However, this unwavering faith in markets ultimately resulted in unintended consequences, including severe wealth inequality, repeated financial crises, and the gradual weakening of democratic institutions. It is a critical examination of the broken promises of economic theory.