The Phoenix Economy: Work, Life, and Money in the New Not Normal (Hardcover)
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Winner of the 2023 SABEW Best in Business Book Award for Investing and Personal Finance
An award-winning journalist presents a tour-de-force analysis—drawing from history, economics, sociology, and popular culture—of the profound and transformative years of the early 2020s, both for individuals and for the global economy.
We are living in a strange world—Salmon calls it “the New Not Normal.” The Phoenix Economy explores the ramifications of the pandemic years, many of which are surprisingly positive. In doing so, Salmon makes sense of one of the most disorienting and devastating events of our lifetimes. He examines the critical aspects of our lives that have been transformed in three parts: Time and Space, Mind and Body, and Business and Pleasure.
Salmon’s keen observations, on everything from meme stocks to lobster rolls, are backed by a deep understanding of financial markets and the quirks of human behavior. His clear-eyed perspective on human and economic events, combined with his considerable analytical and observational skills, make The Phoenix Economy an insightful, fast-paced read.
This book is essential for anyone wanting a better understanding of the near- and long-term effects of this new era and what they portend for our lives. It’s a penetrating insight into what happened—and, more important, what lies ahead.
Felix Salmon is the chief financial correspondent at Axios and the host of the weekly Slate Money podcast. He earned an MA in philosophy and art history from the University of Glasgow and has worked for noted economist Nouriel Roubini and outlets from Reuters to Condé Nast. He has won every major business journalism prize, including the American Statistical Association’s Excellence in Statistical Reporting Award. He lives in New York City.
“Felix Salmon represents the last bastion of old-school journalism, combining intellectual curiosity, a breadth of knowledge, and, crucially, razor-like intuition.” — Nassim Nicholas Taleb, author of The Black Swan
“Like its author, this take on our post-pandemic world is wise, witty, and filled with unexpected observations about our portfolios, our politics, our homes, and our hearts. The best part—you’ll come away feeling more optimistic about the world that Covid has wrought.”
— Rana Foroohar, Financial Times columnist, CNN analyst, and author of Homecoming: The Path to Prosperity in a Post-Global World
“A refreshing, thoughtful, and witty look into what’s changed and what’s ahead, The Phoenix Economy explores a lot more than economics and finance. It rightly warns that we live in a more unpredictable world and that ‘the unexpected isn’t over.’ Whether you are a policymaker, corporate leader, investor, or student, this is an important read.” — Mohamed A El-Erian, president of Queens’ College, Cambridge, and author of When Markets Collide
“Felix Salmon is the Daniel Defoe of our time, reminding us of what we lived through during the Covid-19 pandemic and telling us how the world will change as a result.” — Joseph E. Stiglitz, recipient of the Nobel Memorial Prize in Economic Sciences (2001)
“Felix Salmon is the rarest trifecta—thinker, reporter, storyteller. From lobster rolls to Etch A Sketch, The Phoenix Economy is your witty, knowing field guide to our new normal.” — Mike Allen, cofounder of Axios