Empathy Economics

Janet Yellen's Remarkable Rise to Power and Her Drive to Spread Prosperity to All

By: Owen Ullmann

Narrated by: Christine Padovan

The trailblazing story of Janet Yellen, the Ruth Bader Ginsburg of economics, and her lifelong advocacy for an economics of empathy that delivers the fruits of a prosperous society to people at the bottom half of the economic ladder.

When President Biden announced Janet Yellen as his choice for secretary of the treasury, it was the peak moment of a remarkable life. Not only the first woman in the more than two-century history of the office, Yellen is the first person to hold all three top economic policy jobs in the United States: chair of both the Federal Reserve and the President’s Council of Economic Advisors as well as treasury secretary.

Through Owen Ullmann’s intimate portrait, we glean two remarkable aspects of Yellen’s approach to economics: first, her commitment to putting those on the bottom half of the economic ladder at the center of economic policy, and employing forward-looking ideas to use the power of government to create a more prosperous, productive life for everyone. And second, her ability to maintain humanity in a Washington policy world where fierce political combat casts others as either friend or enemy, never more so than in our current age of polarization.

As Ullmann takes us through Yellen’s life and work, we clearly see her brilliance and meticulous preparation. What stands out, though, is Yellen as an icon of progress—the “Ruth Bader Ginsburg of economics”—a superb-yet-different kind of player in a cold, male-dominated profession that all too often devises policies to benefit the already well-to-do. With humility and compassion as her trademarks, we see the influence of Yellen’s father, a physician whose pay-what-you-can philosophy meant never turning anyone away. That compassion, rooted in her family life in Brooklyn, now extends across our entire country.

Critic reviews

“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

Hagiography w/ poor narration

A must read for anyone interested in economic policymaking. Yellen’s impact on world is undeniable and should be studied by all. Her excellence is what made her sought after in job after job.

The book falls short by trying to make Yellen a feminist icon and avoids evaluation of her shortcomings in enacting her preferred policies as CEA and more recently at treasury. An update after her time at treasury is a must.

Narration was awful and distracted from content. The book did not need a different voice for each quote.

The right person to lead the financial institutions

Captivating story of someone who genuinely cares.
I admire her commitment to ethics, hard work and taking her roles seriously. Fantastic book! Highly recommend it!

Couldn’t listen to the start stop narration.

Sorry for this terrible rating. The story showed great promise but I had to stop listening because of the narration. Pauses every half dozen words reminded me of following someone on the freeway using their brakes too much. I hope to pick it up and read it for myself some day.