For most of its history, the Fed has enjoyed the fawning adoration of the press. When the economy grew, it was credited to the Fed. When the economy imploded in 2008, the Fed got credit for rescuing us. But the Fed also has a unique power to reshape the American economy for the worse, which it did, fatefully, on November 4, 2010 through a radical intervention called quantitative easing. In just a few short years, the Fed more than quadrupled the money supply with one goal: to encourage banks and other investors to extend more risky debt. Leaders at the Fed knew that they were undertaking a bold experiment that would produce few real jobs, with long-term risks that were hard to measure. But the Fed proceeded anyway...and then found itself trapped. Once it printed all that money, there was no way to withdraw it from circulation. The Fed tried several times, only to see market start to crash, at which point the Fed turned the money spigot back on. That’s what it did when COVID hit, printing 300 years’ worth of money in two short months. Which brings us to now: Ten years on, the gap between the rich and poor has grown dramatically, stock prices are trading far above what’s justified by actual corporate profits, corporate debt in America is at an all-time high, and this debt is being traded by big banks on Wall Street, leaving them vulnerable—just as they were during the mortgage boom. Middle-class wages have barely budged in a decade, and consumers are buried under credit card debt, car loan debt, and student debt. The Lords of Easy Money tells the shocking, riveting tale of how quantitative easing is imperiling the American economy through the story of the one man who tried to warn us. This will be the first inside story of how we really got here—and why we face a frightening future.

    

    

    The central promise of crypto endures—vast fortunes made from decentralized networks not controlled by any single entity and not yet regulated by many governments.The recent growth of crypto would have been all but impossible if not for a brilliant young man named Vitalik Buterin and his creation: Ethereum. In this book, Laura Shin takes readers inside the founding of this novel cryptocurrency network, which enabled users to launch their own new coins, thus creating a new crypto fever. She introduces readers to larger-than-life characters like Buterin, the Web3 wunderkind; his short-lived CEO, Charles Hoskinson; and Joe Lubin, a former Goldman Sachs VP who became one of crypto’s most well-known billionaires. Sparks fly as these outsized personalities fight for their piece of a seemingly limitless new business opportunity.This fascinating book shows the crypto market for what it really is: a deeply personal struggle to influence the coming revolution in money, culture, and power.

    But scale isn't just about accumulating more users or capturing more market share. It's about whether an idea that takes hold in a small group can do the same in a much larger one—whether you’re growing a small business, rolling out a diversity and inclusion program, or delivering billions of doses of a vaccine. Translating an idea into widespread impact, says University of Chicago economist John A. List, depends on one thing only: whether it can achieve “high voltage”—the ability to be replicated at scale. In The Voltage Effect, List explains that scalable ideas share a common set of attributes, while any number of attributes can doom an unscalable idea. Drawing on his original research, as well as fascinating examples from the realms of business, policymaking, education, and public health, he identifies five measurable vital signs that a scalable idea must possess, and offers proven strategies for avoiding voltage drops and engineering voltage gains. You’ll learn: • How celebrity chef Jamie Oliver expanded his restaurant empire by focusing on scalable “ingredients” (until it collapsed because talent doesn’t scale) • Why the failure to detect false positives early on caused the Reagan-era drug-prevention program to backfire at scale • How governments could deliver more services to more citizens if they focused on the last dollar spent • How one education center leveraged positive spillovers to narrow the achievement gap across the entire community • Why the right set of incentives, applied at scale, can boost voter turnout, increase clean energy use, encourage patients to consistently take their prescribed medication, and more. By understanding the science of scaling, we can drive change in our schools, workplaces, communities, and society at large. Because a better world can only be built at scale.

    But by tracing that same journey back in time and peeling away the layers of influence - colonialism, political institutions, societal structure, culture - he arrives also at an explanation of inequality's ultimate causes: those ancestral populations that enjoyed fruitful geographical characteristics and rich diversity were set on the path to prosperity, while those that lacked it were disadvantaged in ways still echoed today.As we face ecological crisis across the globe, The Journey of Humanity is a book of urgent truths and enduring relevance, with lessons that are both hopeful and profound: gender equality, investment in education, and balancing diversity with social cohesion are the keys not only to our species' thriving, but to its survival.

    border. In Price Wars, he sets out on a worldwide journey to investigate what caused the wave of chaos that consumed the world in the 2010s.Russell travels to Tunisia, Iraq, Venezuela, Ukraine, East Africa, and Central America and discovers that unrest in all these places was triggered by dramatic and mysterious swings in the price of essential commodities. Deregulation of the commodities markets means that food prices can shoot up even in years of abundant harvests, causing hunger and protest. Oil prices and real-estate values can surge even when supplies are normal, enriching and emboldening dictators. It is this instability--fueled by banks and hedge funds in faraway New York and London--that has toppled regimes and unsettled the West.Price Wars is a fascinating, original, and groundbreaking expos� of the power of the commodities markets to disrupt the world.

    Bogdanov was a strong proponent of the arts, co-founding the Proletarian Culture (Proletkult) organization to provide political and artistic education to workers.

    Even before the Confederacy's secession, the United States Treasury had run out of money. The government had no authority to raise taxes, no federal bank, no currency. But amid unprecedented troubles Lincoln saw opportunity--the chance to legislate in the centralizing spirit of the "more perfect union" that had first drawn him to politics. With Lincoln at the helm, the United States would now govern "for" its people: it would enact laws, establish a currency, raise armies, underwrite transportation and higher education, assist farmers, and impose taxes for them. Lincoln believed this agenda would foster the economic opportunity he had always sought for upwardly striving Americans, and which he would seek in particular for enslaved Black Americans.Salmon Chase, Lincoln's vanquished rival and his new secretary of the Treasury, waged war on the financial front, levying taxes and marketing bonds while desperately battling to contain wartime inflation. And while the Union and Rebel armies fought increasingly savage battles, the Republican-led Congress enacted a blizzard of legislation that made the government, for the first time, a powerful presence in the lives of ordinary Americans. The impact was revolutionary. The activist 37th Congress legislated for homesteads and a transcontinental railroad and involved the federal government in education, agriculture, and eventually immigration policy. It established a progressive income tax and created the greenback--paper money. While the Union became self-sustaining, the South plunged into financial free fall, having failed to leverage its cotton wealth to finance the war. Founded in a crucible of anticentralism, the Confederacy was trapped in a static (and slave-based) agrarian economy without federal taxing power or other means of government financing, save for its overworked printing presses. This led to an epic collapse. Though Confederate troops continued to hold their own, the North's financial advantage over the South, where citizens increasingly went hungry, proved decisive; the war was won as much (or more) in the respective treasuries as on the battlefields.Roger Lowenstein reveals the largely untold story of how Lincoln used the urgency of the Civil War to transform a union of states into a nation. Through a financial lens, he explores how this second American revolution, led by Lincoln, his cabinet, and a Congress studded with towering statesmen, changed the direction of the country and established a government of the people, by the people, and for the people.

    . . offers many lessons for Western policy makers today.”—Paul Kennedy, Wall Street Journal   "The lessons are sobering.”—The Economist  “Original and persuasive. . . . For those who see economic sanctions as a relatively mild way of expressing displeasure at a country’s behavior, this book . . . will come as something of a revelation.”—Lawrence D. Freedman, Foreign Affairs   Economic sanctions dominate the landscape of world politics today. First developed in the early twentieth century as a way of exploiting the flows of globalization to defend liberal internationalism, their appeal is that they function as an alternative to war. This view, however, ignores the dark paradox at their core: designed to prevent war, economic sanctions are modeled on devastating techniques of warfare.     Tracing the use of economic sanctions from the blockades of World War I to the policing of colonial empires and the interwar confrontation with fascism, Nicholas Mulder uses extensive archival research in a political, economic, legal, and military history that reveals how a coercive wartime tool was adopted as an instrument of peacekeeping by the League of Nations. This timely study casts an overdue light on why sanctions are widely considered a form of war, and why their unintended consequences are so tremendous.

    If you care about changing the world, or just want to make better decisions in your own life, The Voltage Effect is for you.' Angela Duckworth, CEO of Character Lab and New York Times bestselling author of Grit ________________­­­­­­­­­­­­­­­­­­­­­­­ Why do some ideas make it big while others fail to take off? According to award-winning behavioural economist John List, the answer comes down to a single question: Can the idea scale? Countless enterprises fall apart the moment they scale; their positive results fizzle, they lose valuable time and money, and the great electric charge of potential that drove them early on disappears. In short, they suffer a voltage drop. Yet success and failure are not about luck - in fact, there is a rhyme and reason as to why some ideas fail and why some make it big. Certain ideas are predictably scalable, while others are predictably destined for disaster. In The Voltage Effect, University of Chicago economist John A. List explains how to identify the ideas that will be successful when scaled, and how to avoid those that won't. Drawing on his own original research, as well as fascinating examples from the realms of business, government, education, and public health, he details the five signature elements that cause voltage drops, and unpacks the four proven techniques for increasing positive results - or voltage gains - and scaling great ideas to their fullest potential. By understanding the science of scaling, we can drive change in our schools, workplaces, communities, and society at large. Because a better world can only be built at scale. ________________ 'One of the best economics books I have ever read - and an instant classic in behavioral economics.' Cass R. Sunstein, Robert Walmsley University Professor, Harvard University, and New York Times bestselling co-author of Nudge 'Thought-provoking and engaging. A must-read.' Daron Acemoglu, Institute Professor at MIT and co-author of Why Nations Fail and The Narrow Corridor.

    Upper Hand helps us think about how we strategically shape the next decade of our lives and our communities as automation, robots, and the narrowing world of technology greatly impacts the future of work opportunities within Black and brown communities who are at the highest risk of being replaced by machines in service-based industries.Upper Hand will provide a series of guidelines, insights, and frameworks for navigating the new world of work; one dominated by Silicon Valley-rooted technologies, inaccessible networks, and constant automation that continues to slash jobs--particularly among Black and Latinx communities. With technology moving at the speed of light, and constant research denoting that Black and Latinx workers, who over-index in service-based jobs that are highest at risk of becoming obsolete, Upper Hand is the guidebook to help families and community leaders design clear pathways toward understanding the range of options and maneuvers available to help people of color survive and thrive in an ever-changing, technology-driven economy that has grossly left out marginalized groups.Upper Hand forces us to consider which assumptions and ideas we are willing to let go of in order to guide our families and communities toward strategies and solutions to not be erased or left behind as technology continues to shape the world and deepen deficits and disparity.

    You Save It. You Never Have Enough of It. But how does it actually work?Understanding cash, currencies and the financial system is vital for making sense of what is going on in our world, especially now. Since the 2008 financial crisis, money has rarely been out of the headlines. Central banks have launched extraordinary policies, like quantitative easing or negative interest rates. New means of payment, like Bitcoin and Apple Pay, are changing how we interact with money and how governments and corporations keep track of our spending. Radical politicians in the US and UK are urging us to transform our financial system and make it the servant of social justice.And yet, if you stopped for a moment and asked yourself whether you really understand how it works, would you honestly be able to say 'yes'?In Money in One Lesson, Gavin Jackson, a lead writer for the Financial Times, specialising in economics, business and public policy, answers the most important questions to clarify for the reader what money is and how it shapes our societies. With brilliant storytelling, Jackson provides a basic understanding of the most important element of our everyday lives. Drawing on stories like the 1970s Irish Banking Strike to show what money actually is, and the Great Inflation of West Africa's cowrie shell money to explain how it keeps its value, Money in One Lesson demystifies the world of finance and explains how societies, both past and present, are forever entwined with monetary matters.

    You Save It. You Never Have Enough of It. But how does it actually work?Understanding cash, currencies and the financial system is vital for making sense of what is going on in our world, especially now. Since the 2008 financial crisis, money has rarely been out of the headlines. Central banks have launched extraordinary policies, like quantitative easing or negative interest rates. New means of payment, like Bitcoin and Apple Pay, are changing how we interact with money and how governments and corporations keep track of our spending. Radical politicians in the US and UK are urging us to transform our financial system and make it the servant of social justice.Money in One Lesson will cut through the confusion. While we are all familiar with money in our everyday lives, few of us would be able to explain exactly what it is or how it works. In a slim volume of roughly 180 pages, Money in One Lesson will answer the most important questions and clarify for the reader what money is and how it shapes our societies. It will provide a basic understanding of public spending, interest rates and financial markets.

    

    The most affluent people emerged from capitalism's triumph in the Cold War to loot the peace, depriving governments of the resources needed to serve their people, and leaving them tragically unprepared for the worst pandemic in a century.Drawing on decades of experience covering the global economy, award-winning journalist Peter S. Goodman profiles five representative Davos Men-members of the billionaire class-chronicling how their shocking exploitation of the global pandemic has hastened a fifty-year trend of wealth centralization. Alongside this reporting, Goodman delivers textured portraits of those caught in Davos Man's wake, including a former steelworker in the American Midwest, a Bangladeshi migrant in Qatar, a Seattle doctor on the front lines of the fight against COVID, blue-collar workers in the tenements of Buenos Aires, an African immigrant in Sweden, a textile manufacturer in Italy, an Amazon warehouse employee in New York City, and more.Goodman's rollicking and revelatory exposé of the global billionaire class reveals their hidden impact on nearly every aspect of modern society: widening wealth inequality, the rise of anti-democratic nationalism, the shrinking opportunity to earn a livable wage, the vulnerabilities of our health-care systems, access to affordable housing, unequal taxation, and even the quality of the shirt on your back. Meticulously reported yet compulsively readable, Davos Man is an essential read for anyone concerned about economic justice, the capacity of societies to grapple with their greatest challenges, and the sanctity of representative government.The New York Times's Global Economics Correspondent masterfully reveals how billionaires' systematic plunder of the world--brazenly accelerated during the pandemic--has transformed 21st-century life and dangerously destabilized democracy. Davos Man will be read a hundred years from now as a warning. --EVAN OSNOS"Excellent. A powerful, fiery book, and it could well be an essential one. --NPR.org

    

    interests. The past few years have seen relations between China and the United States shift, from enthusiastic economic partners, to wary frenemies, to open rivals. Americans have been slow to wake up to the challenges posed by the Chinese Communist Party. Why did this happen? And what can we do about it?In America Second, Isaac Stone Fish traces the evolution of the Party's influence in America. He shows how America's leaders initially welcomed China's entry into the U.S. economy, believing that trade and engagement would lead to a more democratic China. And he explains how--although this belief has proved misguided--many of our businesspeople and politicians have become too dependent on China to challenge it.America Second exposes a deep network of Beijing's influence in America, built quietly over the years through prominent figures like former secretaries of state Henry Kissinger and Madeleine Albright, Disney chairman Bob Iger, and members of the Bush family. And it shows how to fight that influence-without being paranoid, xenophobic, or racist. This is an authoritative and important story of corruption and good intentions gone wrong, with serious implications not only for the future of the United States, but for the world at large.

    This book shows that increased prosperity can only be achieved when people are valued as self-governing agents. Social orders that recognize autonomy and human dignity unleash enormous productive energy. This in turn leads to the mobilization of knowledge-sharing that is critical to innovation and localized problem-solving. Offering a wide range of interdisciplinary perspectives and specific examples from the field showing these ideas in action, this book provides NGOs, multilateral institutions, and donor countries with practical guidelines for implementing dignity-first development.Compelling and engaging, with a wide range of recommendations for reforming development practice and supporting liberal democracy, this book will be an essential read for students and practitioners of international development.

    In Check Your Financial Privilege, he says it, starting with the fact that anyone born into a reserve currency like the euro, yen, or pound has financial privilege over the 89% of the world population born into weaker systems.In Nigeria, human rights activists depend on Bitcoin for donations after crackdowns by authoritarian regimes. In Cuba, after a dual-currency system devalued the peso, those who saved in Bitcoin managed to stay afloat. In El Salvador, where remittance fees and exchange rates can eat away a simple money transfer to family members in need, Bitcoin offers hope with lower fees and faster transactions (and now it's legal tender).As CSO of the Human Rights Foundation, Gladstein is uniquely positioned to detail the rise of Bitcoin from cypherpunk dream to the real-life Bitcoin stories happening to real people across the globe. For people around the world, outside of Wall Street, Bitcoin offers a means of freedom from inflation, political strife, and an outdated monetary system. For these people, the majority of the world’s population, it might even save their lives.Proceeds from the sale of this book support the Human Rights Foundation."In Zimbabwe our biggest note became an astonishing but useless one hundred trillion dollar note. We lost everything because a brutal and corrupt government took it all. Alex Gladstein reveals what Bitcoin can and is doing for people who are at the mercy of political looting gangs in designer suits backed by the military. He shows how Bitcoin is a genuine chance at freedom for billions of people trapped in financial oppression."—--Evan Mawarire, Zimbabwean Pastor and Pro-Democracy Advocate“Alex has done a fantastic job reporting on the use of Bitcoin by people throughout the developing world as a tool against both authoritarianism and high inflation. This aspect of Bitcoin remains poorly understood in general, which is what makes his detailed work on the topic so useful.”--Lyn Alden, Founder, Lyn Alden Investment Strategy“’Cash Rules Everything Around Me.’ This incredible Wu-Tang hook references everything Alex explores in these chapters on the control exerted by governments and corporations through monetary policy, and how the Bitcoin protocol will help free us all.--Jack Dorsey, Co-founder and former CEO, Twitter; Founder and CEO, Block, Inc.“Alex is one of the few experts who truly understands what Bitcoin can mean for the billions living under dictatorship -- but also, how the current system creates & sustains inequality, authoritarianism, and imperialism. This collection of essays is a must-read for those invested in anti-authoritarian, progressive, and democratic causes."--Iyad el-Baghdadi, Arab Spring activist and President, Kawaakibi Foundation"This book is the first of its kind thanks to a holistic approach, guiding the reader through multiple layers of finance, economics, politics, and history in a beautiful way with clarity and fluidity. Gladstein shows how this novel money is defying traditional wealth-building methods by working with humanity rather than against it."--Farida Nabourema, Togolese writer, human rights defender, and Pan-AfricanistProceeds from the sale of this book support the Human Rights Foundation.Alex Gladstein is a regular contributor to Bitcoin Magazine. Read more of his insights and analysis at

    After nearly two centuries of colonial rule, planning the economy was meant to be independent India's route from poverty to prosperity. Planning Democracy explores how India married liberal democracy to a socialist economy. Planning not only built India's data systems, it even shaped the nature of its democracy. The Five-Year Plans loomed so large that they linked surprisingly far-flung contexts-from computers to Bollywood to Hindutva.In this compelling history, Nikhil Menon brings the world of planning to life through the intriguing story of a gifted scientist known as the Professor, a trail-blazing research institute in Calcutta, and the alluring idea of 'democratic planning'. Set amidst global conflicts and international debates, Menon reveals how India walked a tightrope between capitalism and communism. Planning Democracy recasts our understanding of the Indian republic, uncovering how planning came to define the nation and revealing the ways in which it continues to shape our world today.