Publishers Weekly
★ 10/09/2023
Journalist Romeo debuts with an invigorating investigation of how governments across the globe are implementing creative and practical fixes “to urgent economic problems, from decreasing wealth inequality to addressing the climate crisis and creating meaningful jobs.” In Amsterdam, he explains, some businesses are opting into a “true price” program that incorporates “climate impact, water use, land use, and underpayment to workers” into products’ retail price. For example, a tomato picked by an underpaid worker and delivered with a diesel truck will carry an extra charge, incentivizing companies to institute more ethical practices to remain competitive. Romeo humanizes the policy talk with stories of people affected by the various programs, as when he describes how an out of work cobbler found employment doing carpentry and teaching German as part of a jobs guarantee program in Gramatneusiedl, Austria. Discussions of worker-owned cooperatives in the Basque country of Spain and participatory budgeting in Portugal will expand readers’ conception of what public policy can look like, and Romeo offers an incisive history of how neoliberal economists have limited America’s legislative imagination since the 1970s by falsely asserting that the country’s institutions and fiscal policy were founded on “immutable” laws of economics, and consequently beyond large-scale reform. This is an eye-opening handbook for a better world. (Jan.)
From the Publisher
Susan Wiggs is the author of more than fifty novels, including the beloved Lakeshore Chronicles series and the recent New York Times bestsellers The Lost and Found Bookshop, The Oysterville Sewing Circle, and Family Tree. Her award-winning books have been translated into two dozen languages. She lives with her husband on an island in Washington State’s Puget Sound.
JANUARY 2024 - AudioFile
To riff on a statement by Winston Churchill, capitalism is the worst economic system--except for all the others. In this constructive and well-narrated audiobook, NEW YORKER journalist Nick Romeo introduces listeners to companies and jurisdictions that have successfully challenged traditional capitalism with projects such as true pricing, participatory budgeting, and guaranteed jobs. Jamie Renell's well-paced and expressive narration is a good fit for the author's tone, which is reasoned and moderate, never strident. Renell's welcoming voice should win over listeners who might approach these ideas with skepticism, and it just might give these hopeful innovations the audience they deserve. D.B. © AudioFile 2024, Portland, Maine
Kirkus Reviews
2023-09-19
Romeo spins a series of New Yorker articles into a cohesive argument that there are alternatives “to our disastrous economic status quo.”
The author opens by challenging the basic received truth in neoclassical economics that it is a science, operating under its own set of ineluctable laws and with no political or moral dimension. This alone is worth the price of admission, revealing the increasingly narrow perspective promulgated by academia and the flexibility of thought that comes with the introduction of other disciplines, including history, philosophy, and psychology. Romeo then goes on to survey eight different real-world models based in such heterodox thought: true pricing of consumer goods; the movement for an actual living wage; job guarantees; gig-work platforms that operate as public utilities; worker-owned cooperatives; perpetual purpose trusts that “dethrone shareholder primacy and profit maximization”; participatory budgeting at the municipal level; and the use of private equity to create employee stock ownership plans. Such an exploration may sound technocratic, but Romeo never loses his thread: that these approaches are based on both sound economic policy and a commitment to reject the immiseration of an underclass as an “economic necessity.” Variations on decent, moral, and ethical suffuse the text, continually challenging readers to look beyond cost-benefit analyses; that author argues that “no amount of added value for shareholders…can justify the existence of child labor.” Though the examples Romeo presents are satisfyingly mind-bending, they are largely limited to Europe and the U.S. While this effectively establishes proof of concept in developed economies, it ignores whatever innovation may be taking place in the global south and elsewhere that might further upend traditional economic thought. Nevertheless, it makes a terrific complement to Matthew Desmond’s Poverty, by America for readers looking for practical solutions.
Eschewing both “revolution [and] resignation,” Romeo offers a powerful addition to an urgent debate.
