The Economics of Enough: How to Run the Economy as if the Future Matters
by Diane Coyle · 21 Feb 2011 · 523pp · 111,615 words
The Economics of Enough THE ECONOMICS OF ENOUGH HOW TO RUN THE ECONOMY AS IF THE FUTURE MATTERS DIANE COYLE PRINCETON UNIVERSITY PRESS PRINCETON AND OXFORD Copyright © 2011 by Diane Coyle Requests for permission to reproduce material from this work should be sent to Permissions, Princeton University Press Published by Princeton University Press, 41 William
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Rights Reserved Library of Congress Cataloging-in-Publication Data Coyle, Diane. The economics of enough : how to run the economy as if the future matters / Diane Coyle. p. cm. Includes bibliographical references and index. ISBN 978-0-691-14518-1 (hardcover : alk. paper) 1. Economic policy. 2. Values. 3. Happiness. I. Title
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, pp. 419–40. Baumol, William, with William Bowen. 1966. Performing Arts: The Economic Dilemma. Cambridge, MA: MIT Press and the Twentieth Century Fund. Beck, Thorsten, Diane Coyle, Mathias Dewatripont, Xavier Freizas, and Paul Seabright. 2010. “Bailing out the Banks: Reconciling Stability and Competition.” London: Centre for Economic Policy Research. Becker, Sasha, Karolina
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. 2010. Red Tory. London: Faber. Bobbitt, Philip. 2002. The Shield of Achilles: War, Peace, and the Course of History. New York: Knopf. Bourguignon, Francois, and Diane Coyle. 2003. “Inequality, Public Perception, and the Institutional Responses to Globalization.” Mondea y Cridito 216, pp. 211–50. Bowles, Samuel, and Herbert Gintis. 2002. “Social Capital
Cogs and Monsters: What Economics Is, and What It Should Be
by Diane Coyle · 11 Oct 2021 · 305pp · 75,697 words
COGS AND MONSTERS Cogs and Monsters What Economics Is, and What It Should Be Diane Coyle PRINCETON UNIVERSITY PRESS PRINCETON AND OXFORD Copyright © 2021 by Princeton University Press Princeton University Press is committed to the protection of copyright and the intellectual
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Rights Reserved Library of Congress Cataloging-in-Publication Data Names: Coyle, Diane, author. Title: Cogs and monsters : what economics is, and what it should be / Diane Coyle. Description: Princeton : Princeton University Press, [2021] | Includes bibliographical references and index. Identifiers: LCCN 2021017044 (print) | LCCN 2021017045 (ebook) | ISBN 9780691210599 (hardcover ; alk. paper) | ISBN 9780691231037
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, 22 May 2019, https://www.vox.com/the-highlight/2019/5/14/18520783/harvard-economics-chetty. 7. https://www.probonoeconomics.com/news/pbe-lecture-2013-diane-coyle. 8. ‘Teaching Economics after the Crisis’, Royal Economic Society, 1 April 2013, https://www.res.org.uk/resources-page/april-2013-newsletter-teaching-economics-after
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material from a lecture at the Oxford Martin School in June 2019, https://www.oxfordmartin.ox.ac.uk/events/changing-technology-changing-economics-with-prof-diane-coyle/ and at Nottingham Trent University in February 2020, https://www.ntu.ac.uk/about-us/events/events/2020/02/professor
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-diane-coyle-cbe. 5 Changing Technology, Changing Economics My first book on the digital economy was published almost a quarter of a century ago (Coyle 1997). Engrossed
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/2019/the-language-of-rules-textual-complexity-in-banking-reforms. Anand, P., and J. Leape, 2012, ‘What Economists Do and How Universities Might Help’, in Diane Coyle (ed.), What’s the Use of Economics?, London: London Publishing Partnership, 15–20. Anderson, Elizabeth, 1993, Value in Ethics and Economics, Cambridge, MA: Harvard University
The Measure of Progress: Counting What Really Matters
by Diane Coyle · 15 Apr 2025 · 321pp · 112,477 words
.princeton.edu All Rights Reserved Library of Congress Cataloging-in-Publication Data Names: Coyle, Diane, author. Title: The measure of progress : counting what really matters / Diane Coyle. Description: Princeton : Princeton University Press, [2025] | Includes bibliographical references and index. Identifiers: LCCN 2024036081 (print) | LCCN 2024036082 (ebook) | ISBN 9780691179025 (hardback) | ISBN 9780691271286 (ebook) Subjects
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own f uture research. Not only was 9 10 Ch a p t er On e image 1.1. Harvard Economics Department summer picnic, 1982. © Diane Coyle. I more interested then in macroeconomics, but I was also terrified by the plunge into advanced econometrics with such brilliant professors after my non-technical
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m e t i c k ” 23 image 1.2. Holding a copy of William Petty’s Political Arithmetick (1690) at Chetham’s Library, Manchester. © Diane Coyle. Petty’s ambition was to m easure the prosperity of the United Kingdom at a time when the prospect of war with France made an
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e r i a l i s a t i o n 83 image 3.1. Rolls-Royce’s aeroengine factory, Derby, October 26, 2012. © Diane Coyle. Vloed, general manager of Philips Lighting Benelux, stated in the press release, “We believe that more and more forward-thinking businesses will move
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crystallised the puzzle: “What we call ‘real’ magnitudes are not completely real; only the money 178 Va l u e 179 image 7.1. Postwar. © Diane Coyle. magnitudes are real. The ‘real’ ones are hypothetical” (Schelling 1958). This chapter is about what he meant, and how to start
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living as I do? 2. https://www.youtube.com/watch?v=Ggo07G1XB6A 208 Ch a p t er E ight image 8.1. The future. © Diane Coyle. Think about this question in terms of the production function construct introduced early in this book. Successive generations w ill need to be able to
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Mayer and Dennis Snower in Oxford, and a timely workshop run 293 294 Ack now l e dge m e n ts Sophie from Romania. © Diane Coyle. by Markus Gabriel and Anna Katsman in spring 2023 at The New Institute in Hamburg. I received helpful questions and comments from participants in seminars
GDP: A Brief but Affectionate History
by Diane Coyle · 23 Feb 2014 · 159pp · 45,073 words
GDP GDP A BRIEF BUT AFFECTIONATE HISTORY DIANE COYLE PRINCETON UNIVERSITY PRESS PRINCETON AND OXFORD Copyright © 2014 by Diane Coyle Requests for permission to reproduce material from this work should be sent to Permissions, Princeton University Press Published by Princeton University Press, 41 William Street,
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design by Kathleen Lynch/Black Kat Design. All Rights Reserved Library of Congress Cataloging-in-Publication Data Coyle, Diane. GDP : a brief but affectionate history / Diane Coyle. pages cm. Includes bibliographical references and index. ISBN 978-0-691-15679-8 (hardcover : alk. paper) 1. Gross domestic product—History. 2. Economic history. 3
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University Press, 2002). 14. Mark Bils and Peter J. Klenow, “The Acceleration in Variety Growth,” American Economic Review 91, no. 2 (2001): 274–280. 15. Diane Coyle, The Weightless World (Oxford: Capstone, 1996). CHAPTER 5: OUR TIMES: THE GREAT CRASH 1. James Glassman and Kevin Hassett, Dow 36,000 (New York: Three
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. Michael Sandel, “What Money Can’t Buy: The Moral Limits of Markets,” Tanner Lectures on Human Values, delivered at Brasenose College, Oxford, 1998. 30. See Diane Coyle, The Economics of Enough (Princeton, NJ: Princeton University Press, 2011). 31. For details, see http://www.ons.gov.uk/ons/guide-method/user-guidance/well
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January 2013. 8. Andrew Walker, “UK Productivity Puzzle Baffles Economists,” BBC World Service, 17 October 2012, http://www.bbc.co.uk/news/business-19981498. 9. Diane Coyle, The Weightless World (Oxford: Capstone, 1996). 10. W. J. Baumol and W. G. Bowen, “On the Performing Arts: The Anatomy of Their Economic Problems,” American
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, Economic Growth, ed. William D. Nordhaus and James Tobin (New York: National Bureau of Economic Research, 1972), http://www.nber.org/books/nord72-1. 18. Diane Coyle, The Economics of Enough (Princeton, NJ: Princeton University Press, 2011). 19. Martin L. Weitzman, “On the Welfare Significance of National Product in a Dynamic Economy
Markets, State, and People: Economics for Public Policy
by Diane Coyle · 14 Jan 2020 · 384pp · 108,414 words
MARKETS, STATE, AND PEOPLE MARKETS, STATE, AND PEOPLE ECONOMICS FOR PUBLIC POLICY DIANE COYLE PRINCETON UNIVERSITY PRESS PRINCETON AND OXFORD Copyright © 2020 by Princeton University Press Published by Princeton University Press 41 William Street, Princeton, New Jersey 08540 6
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Oxford Street, Woodstock, Oxfordshire OX20 1TR press.princeton.edu All Rights Reserved Names: Coyle, Diane, author. Title: Markets, state, and people : economics for public policy / Diane Coyle. Description: Princeton : Princeton University Press, [2020] | Includes index. Identifiers: LCCN 2019019274 | ISBN 9780691179261 (hardcover) Subjects: LCSH: Economic policy. | Economics. Classification: LCC HD87 .C693 2020 | DDC
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and Political Forces Daron Acemoglu and James Robinson (2013), “Economics versus Politics: Pitfalls of Policy Advice,” Journal of Economic Perspectives 27, no. 2: 173–192. Diane Coyle (2015), GDP: A Brief but Affectionate History, revised ed., Princeton University Press. Wayne Leighton and Edward Lopez (2012), Madmen, Intellectuals, and Academic Scribblers: The Economic
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?,” Journal of Antitrust Enforcement 1, no. 1: 162–197, doi: 10.1093/jaenfo/jns008, http://antitrust.oxfordjournals.org/content/1/1/162.full. Digital Competition Diane Coyle (2019), “Practical Competition Policy Tools for Digital Platforms,” Antitrust Law Journal 82, no. 3. Digital Competition Expert Panel (2019), “Unlocking Digital Competition,” https://www.gov
The Weightless World: Strategies for Managing the Digital Economy
by Diane Coyle · 29 Oct 1998 · 49,604 words
or by any means, with the prior permission in writing of the publishers. The Weightless World Strategies for Managing the Digital Economy Diane Coyle Copyright © Diane Coyle 1997 The right of Diane Coyle to be identified as the author of this work has been asserted in accordance with the Copyright, Designs and Patents Act 1988 First
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true spirit of wanting to further our understanding of the world. Responsibility for the finished product, with all its infelicities, warts and omissions, is mine. Diane Coyle June 1997 Chapter One. The Weightless World A single imported greetings card with a microchip that plays Happy Birthday when the card is opened contains
Money in the Metaverse: Digital Assets, Online Identities, Spatial Computing and Why Virtual Worlds Mean Real Business
by David G. W. Birch and Victoria Richardson · 28 Apr 2024 · 249pp · 74,201 words
Money in the Metaverse Series editor: Professor Diane Coyle Why You Dread Work: What’s Going Wrong in Your Workplace and How to Fix It — Helen Holmes Digital Transformation at Scale: Why the Strategy
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platforms and data in the Metaverse? In a fascinating paper on the data economy for the UK’s National Institute of Economic and Social Research, Diane Coyle and Wendy Li talk about the growing data gap between global big tech and potential competitors, disruptors and innovators (Coyle & Li 2021). Coyle and Li
Growth: A Reckoning
by Daniel Susskind · 16 Apr 2024 · 358pp · 109,930 words
all the economic output generated within the nation’s boundary. GNP counts all the economic output generated by national entities, some of it occurring overseas’, Diane Coyle, GDP: A Brief but Affectionate History (London: Princeton University Press, 2014), p. 25. 4 ‘For the most part, our debates about economic policy are about
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/january-2000-9958/press-conference-announcing-commerce-departments-achievement-century-357955. 7 Moshe Syrquin, ‘A Review Essay on GDP: A Brief but Affectionate History by Diane Coyle’, Journal of Economic Literature, 54:2 (2016), 573–88. 8 H. W. Arndt, The Rise and Fall of Economic Growth: A Study in Contemporary Thought
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Measurement of Economic Performance and Social Progress (2009), p. 85, www.stiglitz-sen-fitoussi.fr 9 To see the history of these technical revisions, see Diane Coyle, GDP: A Brief but Affectionate History (London: Princeton University Press, 2014); Martin Feldstein, ‘Underestimating the Real Growth of GDP, Personal Income, and Productivity’, Journal of
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in the National Accounts’, BEA Working Paper Series WP2020–3, December 2020. 47 For pressure, see the discussion of the SNA review here: Paul Allin, Diane Coyle and Tim Jackson, ‘Beyond GDP: Changing How We Measure Progress is Key to Tackling a World in Crisis – Three Leading Experts’, The Conversation, 18 August
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, System of National Accounts 2008 (New York, 2009). 48 Gilbert, quoted in Moshe Syrquin, ‘A Review Essay on GDP: A Brief but Affectionate History by Diane Coyle’, Journal of Economic Literature, 54:2 (2016), 573–88. 49 John Maynard Keynes and Erwin Rothbarth, ‘The Income and Fiscal Potential of Great Britain’, Economic
Utopia for Realists: The Case for a Universal Basic Income, Open Borders, and a 15-Hour Workweek
by Rutger Bregman · 13 Sep 2014 · 235pp · 62,862 words
. Adding all this unpaid work would expand the economy by anywhere from 37% (in Hungary) to 74% (in the UK).5 However, as the economist Diane Coyle notes, “generally official statistical agencies have never bothered – perhaps because it has been carried out mainly by women.”6 While we’re on the subject
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Machine Age, p. 27. 23. Ian Morris, Why The West Rules – For Now (2010), p. 495. 24. Morris, Why The West Rules, p. 497. 25. Diane Coyle, GDP. A Brief but Affectionate History (2014), p. 79. 26. Frank Levy and Richard Murnane, The New Division of Labor (2004). 27. There are indications
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=3006 3. Frédéric Bastiat, “Ce qu’on voit et ce qu’on ne voit pas” (1850). http://bastiat.org/en/twisatwins.html 4. Quoted in: Diane Coyle, GDP. A Brief but Affectionate History (2014) p. 106. 5. OECD (2011), “Cooking and Caring, Building and Repairing: Unpaid Work around the World,” Society at
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advancements, but it’s extremely difficult to do. Improvements in some technical devices, such as lamps and computers, are only fractionally reflected in GDP. See: Diane Coyle, The Economics of Enough. How to Run the Economy as if the Future Matters (2012) p. 37. 10. Robert Quigley, “The Cost of a Gigabyte
Stakeholder Capitalism: A Global Economy That Works for Progress, People and Planet
by Klaus Schwab and Peter Vanham · 27 Jan 2021 · 460pp · 107,454 words
but not pollution or the resource use. It tells us about government expenditure and private investments but not about the quality of life. Oxford economist Diane Coyle told us in an August 2019 interview7 that, in reality, GDP was “a war-time metric.” It tells you what your economy can produce when
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, September 2009, https://www.spiegel.de/international/business/beyond-gdp-economists-search-for-new-definition-of-well-being-a-650532.html. 7 Phone interview with Diane Coyle by Peter Vanham, August 18, 2019. 8 Measured in constant 2010 US dollars. 9 World Bank, GDP Growth (annual %), 1961–2018, https://data.worldbank.org
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meeting its national commitments under the Paris agreement.”31 Some of these proposals are developed by the Wealth Project, a group consisting of economists including Diane Coyle and Mariana Mazzucato,32 who have long expressed their concern of the dominance of GDP. Companies, too, should expand their horizon beyond the profit-and
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Second World War around the corner. Since then, however, not only the inventor of the metric, Simon Kuznets, but many other economists, including Mariana Mazzucato, Diane Coyle, and Nobel Prize winner Joseph Stiglitz, pointed out some of the fundamental flaws of GDP.39 While organizations such as our own as well as
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David Lin, Chief Science Officer, Global Footprint Network, Oakland, California, US David M. Rubenstein, Co-founder and Co-executive Chairman, Carlyle Group, New York, US Diane Coyle, Director, Bennett Institute for Public Policy, Cambridge University, Cambridge, UK Dominic Waughray, Managing Director, Centre for Global Public Goods, World Economic Forum, Geneva, Switzerland Fabiola
GDP: The World’s Most Powerful Formula and Why It Must Now Change
by Ehsan Masood · 4 Mar 2021 · 303pp · 74,206 words
The Wisdom of Frugality: Why Less Is More - More or Less
by Emrys Westacott · 14 Apr 2016 · 287pp · 80,050 words
Rentier Capitalism: Who Owns the Economy, and Who Pays for It?
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Stakeholder Capitalism: A Global Economy That Works for Progress, People and Planet
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The Hidden Half: How the World Conceals Its Secrets
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Before Babylon, Beyond Bitcoin: From Money That We Understand to Money That Understands Us (Perspectives)
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Capitalism Without Capital: The Rise of the Intangible Economy
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Invisible Women
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The Skeptical Economist: Revealing the Ethics Inside Economics
by Jonathan Aldred · 1 Jan 2009 · 339pp · 105,938 words
What Went Wrong: How the 1% Hijacked the American Middle Class . . . And What Other Countries Got Right
by George R. Tyler · 15 Jul 2013 · 772pp · 203,182 words
Uncomfortably Off: Why the Top 10% of Earners Should Care About Inequality
by Marcos González Hernando and Gerry Mitchell · 23 May 2023
Left Behind
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The Currency Cold War: Cash and Cryptography, Hash Rates and Hegemony
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The Growth Delusion: Wealth, Poverty, and the Well-Being of Nations
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Material World: A Substantial Story of Our Past and Future
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Transport for Humans: Are We Nearly There Yet?
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The New Enclosure: The Appropriation of Public Land in Neoliberal Britain
by Brett Christophers · 6 Nov 2018
The Blockchain Alternative: Rethinking Macroeconomic Policy and Economic Theory
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The End of Money: Counterfeiters, Preachers, Techies, Dreamers--And the Coming Cashless Society
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Are Trams Socialist?: Why Britain Has No Transport Policy
by Christian Wolmar · 19 May 2016 · 79pp · 24,875 words
Driverless Cars: On a Road to Nowhere
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The Nowhere Office: Reinventing Work and the Workplace of the Future
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Greater: Britain After the Storm
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When the Money Runs Out: The End of Western Affluence
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One Billion Americans: The Case for Thinking Bigger
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The Spirit Level: Why Greater Equality Makes Societies Stronger
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The Lonely Century: How Isolation Imperils Our Future
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The Economists' Hour: How the False Prophets of Free Markets Fractured Our Society
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The Data Detective: Ten Easy Rules to Make Sense of Statistics
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Adaptive Markets: Financial Evolution at the Speed of Thought
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European Spring: Why Our Economies and Politics Are in a Mess - and How to Put Them Right
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Exponential: How Accelerating Technology Is Leaving Us Behind and What to Do About It
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Common Wealth: Economics for a Crowded Planet
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The Economics of Belonging: A Radical Plan to Win Back the Left Behind and Achieve Prosperity for All
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Losing Control: The Emerging Threats to Western Prosperity
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Restarting the Future: How to Fix the Intangible Economy
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Digital Transformation at Scale: Why the Strategy Is Delivery
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