What We Are Reading Today: Varoufakis on how Marx predicted our present crisis

Updated 23 April 2018
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What We Are Reading Today: Varoufakis on how Marx predicted our present crisis

‘Marx predicted our present crisis and points the way out,’  writes Yanis Varoufakis in The Guardian’s Long Read Series.

Most people think communism has been consigned to the dustbin of history, but Yanis Varoufakis, former Greek finance minister, goes back to the source and examines “The Communist Manifesto,” written by Karl Marx and Friedrich Engels, and published in 1848.

Varoufakis said the book remains unsurpassed as a work of literature that foresaw the predatory global capitalism of the 21st century.

“Today, a similar dilemma faces young people: conform to an established order that is crumbling and incapable of reproducing itself, or oppose it, at considerable personal cost, in search of new ways of working, playing and living together?” Varoufakis wrote. “Even though communist parties have disappeared almost entirely from the political scene, the spirit of communism driving the manifesto is proving hard to silence.”

Marx and Engels forecast that a powerful minority would prove “unfit to rule” over polarized societies.

“The manifesto gives its 21st-century reader an opportunity to see through this mess and to recognize what needs to be done so that the majority can escape from discontent into new social arrangements,” Varoufakis said.


What We Are Reading Today: Optimal Transport Methods in Economics

Updated 19 August 2018
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What We Are Reading Today: Optimal Transport Methods in Economics

Optimal Transport Methods in Economics is the first textbook on the subject written especially for students and researchers in economics.
Optimal transport theory is used widely to solve problems in mathematics and some areas of the sciences, but it can also be used to understand a range of problems in applied economics, such as the matching between job seekers and jobs, the determinants of real estate prices, and the formation of matrimonial unions.
This is the first text to develop clear applications of optimal transport to economic modeling, statistics, and econometrics, says a review on the Princeton University Press website. It covers the basic results of the theory as well as their relations to linear programming, network flow problems, convex analysis, and computational geometry.
Applications include discrete choice models, models of differential demand, and quantile-based statistical estimation methods, as well as asset pricing models.
Authoritative and accessible, Optimal Transport Methods in Economics also features numerous exercises throughout that help you develop your mathematical agility, deepen your computational skills, and strengthen your economic intuition.