21st Century Economics

Bruno S. Frey is a Permanent Visiting Professor at the University of Basel, Switzerland, and Research Director at CREMA – Center for Research in Economics, Management and the Arts, Zurich, Switzerland. Before that he was a Professor at the Universities of Konstanz, Zurich, Chicago, Warwick and Friedrichshafen. He has been awarded five Honorary Doctorates in five countries. Frey has published 23 books and more than 600 articles in scholarly journals.Christoph A. Schaltegger has been a Professor of Political Economics at the University of Lucerne, Switzerland, since 2010 and dean of the Faculty of Economics and Management since 2016. He also teaches public finance at the University of St. Gallen, Switzerland, where he serves as a director of the Institute of Public Finance and Fiscal Law (IFF). In spring 2009 he was a Visiting Scholar at the Queensland University of Technology in Brisbane, Australia.

• Introduction (Bruno S. Frey and Christoph A. Schaltegger).- Christine Benesch recommends “Mostly Harmless Econometrics: An Empiricist's Companion”  by Joshua D. Angrist and Jörn-Steffen Pischke (Christine Bensch).- Matthias Benz recommends “The Political Economy of Government Responsiveness: Theory and Evidence from India” by Tim Besley and Robin Burgess (Matthias Benz).- Aleksander Berentsen recommends “Bitcoin: A Peer-to-Peer Electronic Cash System” by Satoshi Nakamoto (Aleksander Berentsen).- Thomas Bernauer recommends “Tracking the Ecological Overshoot of the Human Economy” by Mathis Wackernagel et al. (Thomas Bernauer).- Peter Bernholz recommends “Redesigning Democracy: More Ideas for Better Rules”  by Hans Gersbach (Peter Bernholz).- Norbert Berthold recommends “The Son Also Rises: Surnames and the History of Social Mobility” by Gregory Clark (Norbert Berthold).- Urs Birchler recommends “Why Every Economist Should Learn Some AuctionTheory” by Paul Klemperer (Urs Bichler).- Luigino Bruni recommends “The Idea of Justice” by Amartya Sen (Luigino Bruni).- Monika Bütler recommends “The Economic Importance of Financial Literacy: Theory and Evidence” by Annamaria Lusardi and Olivia S. Mitchell (Monika Bütler).- Peter Cauwels recommends “Critical Transitions in Nature and Society” by Marten Scheffer (Peter Cauwels).- Sir Paul Collier recommends “Identity Economics: How Our Identities Shape Our Work, Wages, and Well-Being” by George A. Akerlof and Rachel E. Kranton (Sir Paul Collier).- Reto Cueni recommends “Too much Finance?” by Jean Louis Arcand, Enrico Berkes and Ugo Panizza (Reto Cueni).- Jakob de Haan recommends “Why Nations Fail: The Origins of Power, Prosperity and Poverty” by Daron Acemoglu and James Robinson (Jakob de Haan).- Reiner Eichenberger recommends “Self-Interest through Delegation: An Additional Rationale for the Principal-Agent Relationship” by John Hamman, George Loewenstein and Roberto Weber (Reiner Eichenberger).- Lars P. Feld recommends “Happiness, Economy and Institutions” by Bruno S. Frey and Alois Stutzer (Lars P. Feld).- Reto Foellmi recommends “Firms in International Trade” by Andrew B. Bernard et al. (Reto Foellmi).- Nicolai J. Foss recommends “Economics and Identity” by George A. Akerlof and Rachel E. Kranton (Nicolai J. Foss).- Bruno S. Frey recommends “Mindful Economics: The Production, Consumption, and Value of Beliefs” by Roland Bénabou and Jean Tirole (Bruno S. Frey).- Jetta Frost recommends “Collective Action and the Evolution of Social Norms” by Elinor Ostrom (Jetta Frost).- Clemens Fuest recommends “Yes, Economics Is a Science” by Raj Chetty (Clemens Fuest).- Allan Guggenbühl recommends “Storytelling Animal: How Stories Make Us Human”  by Jonathan Gottschall (Allan Guggenbühl).- Jochen Hartwig recommends “In It Together: Why Less Inequality Benefits All” by OECD (Jochen Hartwig).- Jürg Helblingrecommends “Capital in the 20th Century” by Thomas Piketty (Jürg Helbling).- Sir David F. Hendry recommends “An Analysis of the Indicator Saturation Estimator as a Robust Regression Estimator” by Søren Johansen and Bent Nielsen (Sir David F. Hendry).- Gerard Hertig recommends “Legal Origins” by Edward L. Glaeser and Andrei Shleifer (Gerard Hertig).- Bruno Heyndels recommends “Gender Quotas and the Crisis of the Mediocre Man: Theory and Evidence from Sweden” by Timothy Besley et al. (Bruno Heyndels).- David Iselin recommends “The Superiority of Economists” by Marion Fourcade, Etienne Ollion and Yann Algan (David Iselin).- Beat Kappeler recommends “Beyond the Keynesian Endpoint: Crushed by Credit and Deceived by Debt — How to Revive the Global Economy” by Tony Crescenzi (Beat Kappeler).- John Kay recommends “The Secret of Our Success: How Culture Is Driving Human Evolution, Domesticating Our Species, and Making Us Smarter” by Joseph Henrich (John Kay).- Martin Killias recommends “Crime and Everyday Life” by Marcus Felson and Rachel Boba (Martin Killias).- Hartmut Kliemt recommends “Violence and Social Orders” by Douglass C. North, John Joseph Wallis and Barry R. Weingast (Hartmut Kliemt).- Kai A. Konrad recommends “Lenders’ Blind Trust and Borrowers’ Blind Spots: A Descriptive Investigation of Personal Loans” by Linda Dezsö and George Loewenstein (Kai A. Konrad).- George Loewenstein recommends “Self-Signaling and Diagnostic Utility in Everyday Decision Making” by Ronit Bodner and Drazen Prelec (George Loewenstein).- Ulrich Matter recommends “Towards a Political Theory of the Firm” by Luigi Zingales (Ulrich Matter).- Peter Nijkamp recommends “The False Duality of Work and Leisure” by Joy E. Beatty and William R. Torbert (Peter Nijkamp).- Karl-Dieter Opp recommends “Nudge: Improving Decisions About Health, Wealth, and Happiness” by Richard H. Thaler and Cass R. Sunstein (Karl-Dieter Opp).- Margit Osterloh recommends “Do Women Shy Away from Competition? Do Men Compete Too Much?" by Muriel Niederle and Lise Vesterlund (Margit Osterloh).- Martin Ravallion recommends “Poverty Traps” by Samuel Bowles, Steven Durlauf and Karla Hoff (Martin Ravallion).- Susan Rose-Ackerman recommends “Corruption, Norms, and Legal Enforcement: Evidence from Diplomatic Parking Tickets” by Raymond Fisman and Edward Miguel (Susan Rose-Ackerman).- Katja Rost recommends "The Network Structure of Social Capital" by Ronald S. Burt (Katja Rost).- Mark Schelker recommends “Salience and Taxation: Theory and Evidence” by Raj Chetty, Adam Looney and Kory Kroft (Mark Schelker).- Sascha L. Schmidt recommends “Moneyball: The Art of Winning an Unfair Game” by Michael Lewis (Sascha L. Schmidt).- Friedrich Schneider recommends “Public Choice III” by Dennis C. Mueller (Friedrich Schneider).- Ronnie Schöb recommends “Economics and Identity” by George A. Akerlof and Rachel E. Kranton (Ronnie Schöb).- Gerhard Schwarz recommends “Why Capitalism?” by Allan H. Meltzer (Gerhard Schwarz).- David Stadelmann recommends “Public Policy and the Initiative and Referendum: A Survey with Some New Evidence” by John G. Matsusaka (David Stadelmann).- Bruno Staffelbach recommends “The Lucifer Effect: Understanding How Good People Turn Evil” by Philip Zimbardo (Bruno Staffelbach).- Tobias Straumann recommends “This Time Is Different: Eight Centuries of Financial Folly” by Carmen M. Reinhart and Kenneth S. Rogoff (Tobias Straumann).- Alois Stutzer recommends “Political Selection” by Timothy Besley (Alois Stutzer).- Cass R. Sunstein recommends “Scarcity: Why Having Too Little Means So Much” by Sendhil Mullainathan and Eldar Shafir (Cass R. Sunstein).- Guido Tabellini recommends “A Model of Social Identity with an Application to Political Economy: Nation, Class and Redistribution” by Moses Shayo (Guido Tabellini).- Mark Thoma recommends “Learning and Expectations in Macroeconomics” by George Evans and Seppo Honkapohja (Mark Thoma).- Benno Torgler recommends “Economics Rules: The Rights and Wrongs of the Dismal Science” by Dani Rodrik (Benno Torgler).- Jean-Robert Tyran recommends ”Patience and the Wealth of Nations” by Thomas Dohmen et al. (Jean-Robert Tyran).- Ruut Veenhoven recommends “The Broaden-and-Build Theory of Positive Emotions” by Barbara Fredrickson (Ruut Veenhoven).- Carl Christian von Weizsäcker recommends “Trills Instead of T-Bills: It's Time to Replace Part of Government Debt with Shares in GDP” by Mark J. Kamstra and Robert J. Shiller (Carl Christian von Weizsäcker).- Gert G. Wagner recommends “Homo Ignorans: Deliberately Choosing Not to Know”  by Ralph Hertwig and Christoph Engel (Gert G. Wagner).- Hannelore Weck-Hannemann recommends “Orchestrating Impartiality: The Impact of ‘Blind’ Auditions on Female Musicians” by Claudia Goldin and Cecilia Rouse (Hannelore Weck-Hannemann).- Barry R. Weingast recommends “Economic Backwardness in Political Perspective”  by Daron Acemoglu and James A. Robinson (Barry R. Weingast).- Barbara E. Weissenberger recommends “Management Control Systems. Performance Measurement, Evaluation, and Incentives” by Kenneth A. Merchant and Wim A. Van der Stede (Barbara E. Weissenberger).- Ludger Woessmann recommends “Measuring the Impacts of Teachers II: Teacher Value-Added and Student Outcomes in Adulthood” by Raj Chetty, John N. Friedman and Jonah E. Rockoff (Ludger Woessmann).- Klaus F. Zimmermann recommends “Identity Economics: How Our Identities Shape Our Work, Wages, and Well-Being” by George A. Akerlof and Rachel E. Kranton (Klaus F. Zimmermann).- Postscript (Bruno S. Frey and Christoph A. Schaltegger).