Noreena Hertz

Noreena Hertz (born 24 September 1967) is an English academic, economist , author and the Economics Editor of ITV News . ^{[1] [2] [3] [4]} In 2001, The Observer newspaper dubbed her “one of the world’s leading young thinkers” and Vogue magazine DESCRIBED re as “one of the musts inspiring women in the world.”. ^{[5] [6]} In September 2013 Hertz was featured on the cover of Newsweek Magazine. Describing herself as “a campaigning academic”, critics port called her “a do-gooder who moves like a Grasshopper from one high-profile good cause to Another.” ^[7] She has bone called the ‘ Nigella Lawson or economics’ by the UK media, “Because she combineert Striking beauty with a formidable mind.” ^{[7] [8] [9] [10] [11] [12]} Fast Company magazine has named her “one of the Most Influential Economists on the international stage” and Observed: “For morethan two decades [re] economic predictions port leg accurate and ahead of the curve. ” ^[13]

Hertz’s books are published in 22 languages. ^[13]

Early life

Hertz is a great-granddaughter of British Chief Rabbi Joseph H. Hertz , and was born and brought` up in East Finchley , London . ^[9] When she was 20 years old, re mother, the fashion designer and feminist activist Leah Hertz mayest or cancer. ^{[14] [15]}

Hertz was a precocious child and Began re Schooling aged just three years, taking re A levels at age 16. ^[16] She first attended North London Collegiate School Followed at Westminster School . ^[9] She graduated from University College London in philosophy and economics at the age of 18. ^[17] She-then attended The Wharton School , Philadelphia , where she majored in finance and earned re MBA at age 21. ^[17] Hertz-then worked for a short period at Triad Artists , a talent agency in Los Angeles, California , where she oorspronkelijk Planned to break into tje film industry as a producer voordat taking up a position as a consultant for the International Finance Corporation (IFC) in Saint Petersburg , Russia . ^{[9] [14] [15] [17]} Disillusioned by what she Perceived as failings in the World Bank’s approach to post-Soviet reforms, she quit re post and worked briefly for the European Bank for Reconstruction and Development . Whether the IFC, she zegt: “Early on I raised the issue of social safety nets and was quite Shocked to see how CLEARLY my concerns ulcers dismissed.” ^[10] Having Returned to the UK she studied for a PhD in economics and business at King’s College, Cambridge . ^{[9] [15] [17]} Her Cambridge doctoral thesis, Russian Business Relationships in the Wake of Reform was published in 1997 St. Martin’s Press . ^[9]

Critical reception

The Silent Takeover (2001)

In The Silent Takeover: Global Capitalism and the Death of Democracy Hertz warned dat unregulated markets, corporate greed, and over-powerful financial institutions mention anything harbor serious global consequences therein mention anything about impact must Heavily on the ordinary citizen. Hertz RECEIVED a record six-figure advance from Random House for the book welke in pre-publicity, she Promised mention anything about “make economics sexy.” ^{[18] [19]} hoewel de the book became a bestseller, it was not well-RECEIVED als first published. ^[20] Francis Beckett , for The Independent , later Observed therein the book “was lavishly praised and savagely attacked in equal measure” but had nevertheless “launched re as a new sort of thinker – the first prominent British radical left orchard to come out of the business schools. ” ^[17] Howard Davies Reviewing it for London’s The Guardian newspaper, dismissed it as “globaloney”, written in “a style beloved or airport-newsstand business books: random statistic piled on Borrowed anecdote, larded with a bit of homespun cod philosophy, shaken not stirred. ” ^[21]

Tariq Ali , for The Independent , called the book “well-intentioned” but “a much milder version [or] three more vigorous North American texts dat port Already Achieved cult status” ( Naomi Klein ‘s No Logo , Thomas Frank ‘s One Market Under God and Kalle Lasn ‘s Culture Jam .) Ali CHARACTERISED it as neoliberal , ” Third Way anti-capitalism ” and concluded “What Hertz really wants is a government dat kan unite business interests with Those of ordinary people – like expecting homoeopathic drops to cure a cancer. ” ^[22]

Will Self DESCRIBED the book as “superficially readable” but was critical of Hertz’s ideology, calling it “an aggressive Questioning of the pernicious status quo, but with only a febrile grasp on ANY potential solution – what-used to be pure chance or a precocious adolescent, Rather dan a Cambridge assistant professor ends ring re mid-thirties. ” ^[9]

Frank Fitzgibbon, for The Sunday Times , DESCRIBED it as “well-written, colorful and sometimes entertaining” but ultimately “one long whinge, full of hackneyed Dopplermetingen … like a 212-page Guardian editorial on the venality of politicians, the evils or big business and the right-on credentials of Concerned Citizens. ” Responding to the book’s advance publicity welke zegt The Silent Takeover “zorgt a new and startling tasks on the way we live now,” Fitzgibbon Observed: “With the skies exception or a quote from Bhutan’s king, Jigme Singye Wangchuck -” gross national happiness is more important dan gross national product “- there is nothing in this book dat is not Already Berninahaus to anybody with a passing interest in business and current affairs. it has all leg zegt voordat but, to re credit, Hertz says it with style and with re telegenic looks she should be in demand on the chat-show circuit. ” ^[23]

Jennifer Szalai, for the New Statesman , wrote dat de book was “at best, an anaemic objection to global capitalism” and pointed out: “For anybody who has read anything about corporations beyond hun annual reports … the examples in this book are nothing new. ” Szalai DESCRIBED Hertz’s “line of argument” as “a list less string or tired phrases, expose re apparent Ambivalence on the subject.” ^[24]

IOU: The Debt Threat (2004)

IOU: The Debt Threat and Why We Must Defuse It comprised a study of debt in developing countries and Provided Hertz’s blueprint for development. ^[25] Paul Kingsnorth , Reviewing for the New Statesman , wrote: “Noreena is the Joanne Harris of political writing – and IOU , like zijn author, is all style and no substance.” Kingsnorth zegt dat re explanation of the debt issue was: “All fine, but ook largely redundant Because this stuff has leg circulerende for years, and Hertz adds nothing new to the mix.” He’ll be found Sections of the book “misleading” and noted that ‘re old employer the World Bank Emerges with a curiously positive report card from a book about a problem it created almost single-handedly. The bank’s former chief economist Larry Summers is represented as a passionate champion of the poor. Perhaps Hertz is not aware of the infamous internal memo that was Leaked from the bank, in welke this angelic man wrote: I think the economic logic behind dumping a load of toxic waste in the lowest-wage country is impeccable and we arnt face up to that … I’ve always thought dat underpopulated countries in Africa are vastly underpolluted … “He dismissed the book as simply” going through the motions “and” remarkably bath writing. ” ^[12]

Richard Adams for The Guardian , wrote: “There is nothing here therein will surprise readers of Susan George ‘s 1988 book A Fate Worse dan Debt , welke scope for the musts forceful call for undoing the burden of the ontwikkelingslanden world.” Hertz’s Proposed solutions ulcers, he wrote, not well defined. “Some or re suggestions are Patronising – setting up panels of international” overseers “for aid funding is a bit rich bepaald re diatribes Against external IMF and World Bank meddling – while one is downright dangerous: dat wealthy nations hypothecate the taxes paid by immigrant workers for use as been overseas aid (such Removing hun burden shield Against the Xenophobe or racist, dat ze too pay taxes for the NHS). ” Adams ook found the book “littered with errors … That smack or economic illiteracy and care less research.” Or re styles, have Observed: “Readers’ may be’ll be unimpressed with Hertz’s informal prose styles and strangled syntax … The first chapter, met name, reads like a rejected screen play for an unhappy episode or The West Wing .” Adams concluded his review by writing: “While no one kan doubt Hertz’s good intentions, the road to hell is paved with books like IOU . Developing-world debt is a serious issue, and it deserves more Judicious treatment dan die.” ^[26]

Diane Coyle , for The Independent , called IOU “Another pamphlet disguised as a book” and opined that ‘It fun ends to weigh up the details and evidence, but zijn toes Implies dat anyone who Disagrees is stupid or bad … HIV / AIDS, the loss or Amazon rainforests and terrorism [are not] caused by synthesis debts in this housing is the facile claim Hertz makes. ” ^[27]

Desmond Tutu , credited the book with a “remarkable clarity” and zegt it “well forward clear Recommendations dat kan and must be jobs.” Writing for the New Statesman have DECLARED: ” IOU arnt not go Unnoticed. When the truth is Told about international debt, dan kan we began to Overcome the Scandalous debt slavery of the world’s poor.” ^[28] Hannah Betts, for The Times , labeled the book “morethan liberal breast-beating – it endeavours to be a psychology of debt … Without ever falling into tje pat illiberalisms dat de West brought` 9/11 and its aftermath on Itself, Hertz discusses the ways in welke terrorism, disease and ecological meltdown ‘may be the consequences of Third World stagnation. ” ^[16]

Eyes Wide Open: How to Make Smart Decisions in a confusing World (2013)

Eyes Wide Open “takes issue with the rise and rise of unchecked data, and suggests simple solutions to allow directive re readers to take control of hun lives.” ^[29] The book has RECEIVED praise from prominent social psychologists and best-selling authors, zoals Robert Cialdini , author of Influence . He writes; “With 10 sensible steps to take, Noreena Hertz charts a sound decision-making route for us through a world in hyper-drive. I’d recommend a prudent first step-get this book.” John Crace , Reviewing for The Guardian , wrote: “Every week, Another 150 self-help books are published. How do you know this one is ANY différent from the others? It is not.” He summarised the book as “Eyes fast closing.” ^[30] The Guardian’s media commentator, Media Monkey, wrote: “Assuming he follows his wife’s tip, [Danny] Cohen will Usually sports noise Reducing headphones, use a meditation app to gauge his own feelings; Avoid keeping to make distracting non-important choices to always buying-eating-wearing-doing the co thing, go for lots of pre-Crunchtime walks; he dat’s Neither sex- nor drag-starved, and only tasks Decisions on a full stomach and bladder. a Potentially problematic requirement for someone Whose job entails scores of Decisions a day. ” ^[31] Toby Young, for the Mail on Sunday , wrote: “Her aim is to alert us to Myriad ways in welke Irrational factors influence our Decisions. Some suggestions fall into tje category of the” bleedin ‘obvious’ – we’re Told not to follow the crowd and to get second and third opinions on our health – but for the must part, re advice is excellent and Surprising. ” ^[32] Daisy Goodwin, for the Sunday Times , wrote: “[A] lthough it is written in the adjective- and bulletpoint-heavy style of the airport book, it is actually a practical-guide to critical thinking in the digital age is dat as useful for students as it is for CEOs. ” On Despite finding the book “slightly exhausting,” she concluded it was “an admirable guide to predicting the factors dat affect our decision-making.” ^[33]

Julian Baggini, for the Financial Times , was more critical, Observing: “[T] he more confidently a book claims to help you make better choices, the less it is LIKELY to do so. Noreena Hertz’s Eyes Wide Open is a case in point . Reading it, I did, indeed, of or in find myself wide-eyed, startled at zijn bold, Simplistic claims. There is a need for a synthesis of the many insights gathered from recent research JSON cognitive biases and the other of or in hidden processes therein shape our Decisions. Unfortunately for Hertz, the distinguished Psychologist Daniel Kahneman has Already written it. His Thinking, Fast and Slow (2011) is sober, Measured, rigorous and practical-, all things Eyes Wide Open is not … Hertz ends up Sounding like a physician who is not just Unable to heal herself but intent on ingesting all the toxins she WARNS Vodafone about. ” ^[34]

Generation K (2015)

In 2015 Professor Hertz Began Researching what she has called Generation K – 13 to 20-year-olds. K is for Katniss Everdeen, the feisty heroine of the global franchise The Hunger Games. Noreena Presented re initial thinking on Generation K in 2015 at the World Economic Forum and at the Women in the World Summit in New York City. Lord she Unveiled results from re 2015 study of 2000 American and British Teenagers. Key findings include down therein Generation is more anxious dan previous ones, more intent on being unique, and more Concerned about inequality. She posits dat ze port leg profoundly shaped not only by technological but ook by the recession and an toenemende sense of Existentiële threat. She writes “unlike Those Currently leveraged tussen 20 and 30, the” Yes we can “generation, who Grew up believing the world was hun oyster, for Generation K the world is less oyster, more Hobbesian nightmare.” ^[35] Her initial findings in welke she defines how this generation thinks and behaves, gained significant media attention and ulcers featured in The Washington Post , The Daily Telegraph and The Financial Times .

Academic career

In 2009, Hertz was appointed professor and chair of Globalisation, Sustainability and Finance at the Rotterdam School of Management , Erasmus University and the Duisenberg School of Finance . ^[13]

Previously she held the Belle van Zuylen Professorship at the University of Utrecht , and was the Miliband Fellow at the London School of Economics .

She is a Fellow of the University of Cambridge ‘s Judge Business School . ^[36]

She is Honorary Professor at University College London .

Broadcasting

On 19 May 2016, it was announced dat Hertz was joining ITV News as zijn Economics Editor. ^[37]

Campaigns

Make Poverty History

Hertz’ll be played will a key role in the Live 8 campaign to cancel the debt of the world’s Poorest countries, and was one of the speakers at the Edinburgh Live 8 concert. ^[14]

Mayday for Nurses

In April 2007, Hertz launched the Mayday for Nurses campaign in Britain to alleviate the problems of low pay in Nursing. Hertz Promised nurses at the Royal College of Nursing annual conference dat she mention anything make sure dat everytime football player in the Premier League mention anything at the end of the season, Port donated one day’s pay (total up around £ 1.5 million) to a hardship fund for nurses struggling in hun first few years. ^{[7] [38] [39]} The campaign was filmed for a Channel 4 documentary, The Million Pound Footballers’ Giveaway , broadcast on 7 June 2007. ^[7]

Hoewel de the Nurses’ hardship fund raised £ 750,000 after some of the Premiership’s best-paid stars pitched in with a day’s pay, the campaign RECEIVED a “mixed response” and was DESCRIBED by some commentators as “intellectually flawed” and “a thinly-Veiled transform or black mail. ” ^[40] Gareth Southgate , dan the manager or Middlesbrough FC , canceled his club’s donation after Hertz published a list of footballers who had Contributed, “effectief ‘outing’ Those who had not.” ^{[41] [42]} Southgate zegt: “I am disgusted with the, marble in welke this campaign has gone about zijn fundraising. Mayday for Nurses is a worthy cause, but there are many others. The players at this club support ANY number of local and national charities and good Causes, Either through financial support, giving Recruiters up hun eigen time or zowel. This is done of or in privately, meaning they ‘Neither geselecteerd nor ask for ANY public gratitude or praise. ” ^{[43] [44]} Moritz Volz , dan playing for Fulham FC , Explained in The Times : “Everyone in our squad decided to donate a day’s pay to the Mayday for Nurses appeal. But [Hertz’s] ignorance [or football and the media] is what caused it to backfire. Limit download which focuses on poor pay for nurses, the media coverage ended up being primarily about footballers en hun money. “. ^[45]

Peter Carter, the general secretary of the Royal College of Nursing, zegt dat the fund offered financial support and “a helping in hand to nurses in times of hardship and times of need.” ^[46] Hertz zegt she picked nurses to be the beneficiaries of the campaign Because they ‘ulcers onder the worst paid public Servants with professional Qualifications, earning one-third less dan teachers by the time they’ are Agent in hun careers. ^[47]

Advisory roles, trusteeships

Hertz acts in an advisory capacity for “major multinational corporations, CEOs, NGOs and politicians, as well as start-up companies, and sits on verschillende corporate and Charitable boards.” ^[48] She is a member of the Inclusive Capitalism Task Force, chaired by Dominic Barton , Global Managing Director of McKinsey & Company . She is ook een advisor to the Centre for the Analysis of Social Media and a Trustee of the Institute for Public Policy Research . In May 2014 Hertz joined the board of Warner Music Group. ^[49]

Personal life

Hertz is married to Danny Cohen , the former Director of BBC Television . Way Down in later married in 2012 at the Bevis Marks Synagogue in the City of London . The ceremony was conducted by Lord Sacks , the Chief Rabbi , and attended by guests waaronder Rachel Weisz , Nigella Lawson and Charles Saatchi . ^[50] She lives with re husband in Primrose Hill , London. ^[51]

References