Empathy Economics

Reviews

“Spotlighting Yellen’s empathy, an emotion often missing from the arcane world of economic policy … This is an enlightening study of a trailblazing yet ‘unassuming’ public figure.”—Publishers Weekly “With extraordinary access to an extremely busy Janet Yellen as well her family, close friends, and colleagues, Owen Ullmann traces the path Yellen took from Fort Hamilton High School in Brooklyn to the highest rungs of the US government with exacting detail and insight. Ullmann reveals how Yellen overcame obstacles, outmaneuvered hostile men, and held onto all the values that led her to study economics in the first place—all to the great benefit of the American people. When you finish this book, you really know who Yellen is and why she has been so successful and influential.”—David Wessel, the Brookings Institution, author of Only the Rich Can Play “Few people have had as great an impact on America’s economy as Yellen, the first woman to serve both as chair of the Federal Reserve and as treasury secretary. In Empathy Economics, Ullmann masterfully traces her rise from precocious Brooklyn schoolgirl to the corridors of power in Washington. Ullmann artfully weaves together Yellen’s life and career, showing how her lived experience informed her view of economic policies that put American families at the forefront. This deeply human portrait brings to life one of the country’s towering trailblazers, who is still paving the way for women in economics and beyond.”—Joanne Lipman, author of That’s What She Said, and former editor-in-chief, USA Today “Empathy Economics is a terrific read, well researched, and well written. Ullmann captures the characteristics that have made Yellen the leader of three of the nation’s key economic-policy institutions, the Council of Economic Advisers, the Federal Reserve, and the Treasury—the only person to have held all three positions. Yellen combines sharp intelligence, and a deep commitment to fact-based objective economic analysis, with empathy, a big heart, and a deep dedication to public service. She is strong yet humble; she has taken on leadership roles and their onerous 24/7 responsibilities not for prestige or power but to improve the lives of ordinary Americans. No one has brought more knowledge, experience, and empathy to addressing the core economic challenges facing the nation. The book also provides a fascinating history of the evolution of Federal Reserve policy during Yellen’s leadership, including the adoption of an explicit inflation target and greater transparency in Fed decision-making.”—Laura Tyson, distinguished professor, Haas School, University of California; former chair, White House Council of Economic Advisers; and director, White House National Economic Council “Ullmann’s excellent biography of Yellen documents the origins and trajectory of Yellen’s remarkable career and what lies behind her success—intelligence, diligence, and deeply held values of equity and inclusion that inform the content of her work as well as her working style. A valuable bonus is that Ullmann’s clear explication of the issues that have confronted Yellen provides a thorough overview of the major financial, tax, and growth policies of the past several decades. Yellen’s inspiring story of succeeding in a man’s world to tweak economic policy at the highest levels and achieve positive outcomes for many is a good read. Every economist should apply her values to our discipline and profession to make economics much more useful and humane.”—Heidi Hartman, research professor, George Washington University, and president, Institute for Women’s Policy Research Expand reviews