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9781529112795

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A persuasive diagnosis of the present social malaise [with] plenty of suggestions about what policymakers could do ... ranges widely ... impressive -- Diane Coyle * Financial Times * A big argument, eloquently written ... eye-catching individual ideas ... entertaining tales ... courageously breaks from the orthodoxies of the pre-crash years * Prospect * Shafik is an insider, turned radical ... In this intelligent and lucid book, she calls for a new social contract based on three principles: security for all; investment in capability; and efficient and fair sharing of risks -- Martin Wolf * Financial Times * What We Owe Each Other examines the role of the social contract and considers how changes in the global economy have undermined the function of the institutions societies rely on to keep the world a reasonably just place ... Shafik reckons that ... if the social contract breaks down, and people do not adequately look after each other, then crises (of finance, public health or the environment, for example) will threaten prosperity * Economist * Wonderfully illuminating of our interdependence -- Amartya Sen

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Nemat (Minouche) Shafik is the Director of the London School of Economics and Political Science. Born in Egypt, she emigrated as a child to the USA, later moving to the UK for post-graduate studies in economics. At 36, she became the youngest ever Vice President of the World Bank and has since held positions as Permanent Secretary of the UK's Department for International Development, Deputy Managing Director of the International Monetary Fund and as Deputy Governor of the Bank of England. In these roles she has worked on major policy upheavals across the globe, from the fall of the Berlin Wall, to the Arab Spring, to the financial crash in 2008 and the Eurozone crisis. Following her appointment as Director of the LSE in 2017, she launched a programme of research, 'Beveridge 2.0', to rethink the welfare state for the 21st century. She was made a Dame in the Queen's Birthday Honours list in 2015 and in 2020 was appointed a cross-bench peer in the House of Lords.

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