William Davies

William Davies, a sociologist and political economist, teaches at Goldsmiths and has written extensively on subjects such as neoliberalism and the ‘happiness industry’. This Is Not Normal: The Collapse of Liberal Britain includes several of his essays for the LRB.

The Big Mystique: Central Banks and Banking

William Davies, 2 February 2017

Early​ in 2014, the Bank of England put out a quarterly bulletin entitled ‘Money Creation in the Modern Economy’ which put to bed one of the most persistent – and false – claims in the history of economics. According to orthodox economists as far back as Adam Smith, money originates in the need to exchange one good for another. I have produced more bread than I need,...

Home Office Rules

William Davies, 3 November 2016

Home secretaries see the world in Hobbesian terms, as a dangerous and frightening place, in which vulnerable people are robbed, murdered and blown up, and these things happen because the state has failed them. What’s worse, lawyers and Guardian readers – who are rarely the victims of these crimes – then criticise the state for trying harder to protect the public through surveillance and policing. I suspect that many home secretaries have developed some of these ways of thinking. But Theresa May’s long tenure (six years) and apparent comfort at the Home Office suggests that the mindset may have deepened in her case or meshed better with her pre-existing worldview.

Thanks to the work of behavioural economists there is a lot of experimental evidence to show what many of us would have suspected anyway: that people are not the rational, utility-maximisers...

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‘What’s​ on your mind?’ Each day, the 968 million people who log in to Facebook are asked to share their thoughts with its giant data bank. A dropdown menu of smilies invites...

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