Deaths of Despair and the Future of Capitalism


Anne Case - 2020
    In the past two decades, deaths of despair from suicide, drug overdose, and alcoholism have risen dramatically, and now claim hundreds of thousands of American lives each year--and they're still rising. Anne Case and Angus Deaton, known for first sounding the alarm about deaths of despair, explain the overwhelming surge in these deaths and shed light on the social and economic forces that are making life harder for the working class. They demonstrate why, for those who used to prosper in America, capitalism is no longer delivering.Deaths of Despair and the Future of Capitalism paints a troubling portrait of the American dream in decline. For the white working class, today's America has become a land of broken families and few prospects. As the college educated become healthier and wealthier, adults without a degree are literally dying from pain and despair. In this critically important book, Case and Deaton tie the crisis to the weakening position of labor, the growing power of corporations, and, above all, to a rapacious health-care sector that redistributes working-class wages into the pockets of the wealthy. Capitalism, which over two centuries lifted countless people out of poverty, is now destroying the lives of blue-collar America.This book charts a way forward, providing solutions that can rein in capitalism's excesses and make it work for everyone.

The Inevitable: Understanding the 12 Technological Forces That Will Shape Our Future


Kevin Kelly - 2016
    In this fascinating, provocative new book, Kevin Kelly provides an optimistic road map for the future, showing how the coming changes in our lives—from virtual reality in the home to an on-demand economy to artificial intelligence embedded in everything we manufacture—can be understood as the result of a few long-term, accelerating forces. Kelly both describes these deep trends—flowing, screening, accessing, sharing, filtering, remixing, tracking, and questioning—and demonstrates how they overlap and are codependent on one another. These larger forces will completely revolutionize the way we buy, work, learn, and communicate with each other. By understanding and embracing them, says Kelly, it will be easier for us to remain on top of the coming wave of changes and to arrange our day-to-day relationships with technology in ways that bring forth maximum benefits. Kelly’s bright, hopeful book will be indispensable to anyone who seeks guidance on where their business, industry, or life is heading—what to invent, where to work, in what to invest, how to better reach customers, and what to begin to put into place—as this new world emerges.

The Myth of the Rational Market: Wall Street's Impossible Quest for Predictable Markets


Justin Fox - 2008
    The book brings to life the people and ideas that forged modern finance and investing, from the formative days of Wall Street through the Great Depression and into the financial calamity of today. It's a tale that features professors who made and lost fortunes, battled fiercely over ideas, beat the house in blackjack, wrote bestselling books, and played major roles on the world stage. It's also a tale of Wall Street's evolution, the power of the market to generate wealth and wreak havoc, and free market capitalism's war with itself.The efficient market hypothesis--long part of academic folklore but codified in the 1960s at the University of Chicago--has evolved into a powerful myth. It has been the maker and loser of fortunes, the driver of trillions of dollars, the inspiration for index funds and vast new derivatives markets, and the guidepost for thousands of careers. The theory holds that the market is always right, and that the decisions of millions of rational investors, all acting on information to outsmart one another, always provide the best judge of a stock's value. That myth is crumbling.Celebrated journalist and columnist Fox introduces a new wave of economists and scholars who no longer teach that investors are rational or that the markets are always right. Many of them now agree with Yale professor Robert Shiller that the efficient markets theory "represents one of the most remarkable errors in the history of economic thought." Today the theory has given way to counterintuitive hypotheses about human behavior, psychological models of decision making, and the irrationality of the markets. Investors overreact, underreact, and make irrational decisions based on imperfect data. In his landmark treatment of the history of the world's markets, Fox uncovers the new ideas that may come to drive the market in the century ahead.

Doing Good Better: How Effective Altruism Can Help You Make a Difference


William MacAskill - 2015
    We donate our time and money to charities and causes we deem worthy, choose careers we consider meaningful, and patronize businesses and buy products we believe make the world a better place. Unfortunately, we often base these decisions on assumptions and emotions rather than facts. As a result, even our best intentions often lead to ineffective—and sometimes downright harmful—outcomes. How can we do better? While a researcher at Oxford, trying to figure out which career would allow him to have the greatest impact, William MacAskill confronted this problem head on. He discovered that much of the potential for change was being squandered by lack of information, bad data, and our own prejudice. As an antidote, he and his colleagues developed effective altruism, a practical, data-driven approach that allows each of us to make a tremendous difference regardless of our resources. Effective altruists believe that it’s not enough to simply do good; we must do good better. At the core of this philosophy are five key questions that help guide our altruistic decisions: How many people benefit, and by how much? Is this the most effective thing I can do? Is this area neglected? What would have happened otherwise? What are the chances of success, and how good would success be? By applying these questions to real-life scenarios, MacAskill shows how many of our assumptions about doing good are misguided. For instance, he argues one can potentially save more lives by becoming a plastic surgeon rather than a heart surgeon; measuring overhead costs is an inaccurate gauge of a charity’s effectiveness; and, it generally doesn’t make sense for individuals to donate to disaster relief. MacAskill urges us to think differently, set aside biases, and use evidence and careful reasoning rather than act on impulse. When we do this—when we apply the head and the heart to each of our altruistic endeavors—we find that each of us has the power to do an astonishing amount of good.

The End of Money: Counterfeiters, Preachers, Techies, Dreamers--And the Coming Cashless Society


David Wolman - 2012
    Yet the usefulness of physical money--to say nothing of its value--is coming under fire as never before. Intrigued by the distinct possibility that cash will soon disappear, author and Wired contributing editor David Wolman sets out to investigate the future of money...and how it will affect your wallet.Wolman begins his journey by deciding to shun cash for an entire year--a surprisingly successful experiment (with a couple of notable exceptions). He then ventures forth to find people and technologies that illuminate the road ahead. In Honolulu, he drinks Mai Tais with Bernard von NotHaus, a convicted counterfeiter and alternative-currency evangelist whom government prosecutors have labeled a domestic terrorist. In Tokyo, he sneaks a peek at the latest anti-counterfeiting wizardry, while puzzling over the fact that banknote forgers depend on society's addiction to cash. In a downtrodden Oregon town, he mingles with obsessive coin collectors--the people who are supposed to love cash the most, yet don't. And in rural Georgia, he examines why some people feel the end of cash is Armageddon's warm-up act. After stops at the Digital Money Forum in London and Iceland's central bank, Wolman flies to Delhi, where he sees first-hand how cash penalizes the poor more than anyone--and how mobile technologies promise to change that.Told with verve and wit, The End of Money explores an aspect of our daily lives so fundamental that we rarely stop to think about it. You'll never look at a dollar bill the same again.

Free to Choose: A Personal Statement


Milton Friedman - 1980
    In this classic discussion, Milton and Rose Friedman explain how our freedom has been eroded and our affluence undermined through the explosion of laws, regulations, agencies, and spending in Washington. This important analysis reveals what has gone wrong in America in the past and what is necessary for our economic health to flourish.

War is a Racket


Smedley D. Butler - 1935
    Butler was a military hero of the first rank, the winner of two Medals of Honour, a true 'fighting marine' whose courage and patriotism could not be doubted. Yet he came to believe that the wars in which he and his men had fought and bled and died were all pre-planned conflicts, designed not so much to defend America as to bloat the balance sheets of US banks and corporations.War Is a Racket is the title of two works, a speech and a booklet, by retired United States Marine Corps Major General and two time Medal of Honor recipient Smedley D. Butler. In them, Butler frankly discusses from his experience as a career military officer how business interests commercially benefit from warfare.After his retirement from the Marine Corps, Gen. Butler made a nationwide tour in the early 1930s giving his speech "War is a Racket". The speech was so well received that he wrote a longer version as a small book with the same title that was published in 1935 by Round Table Press, Inc., of New York. The booklet was also condensed in Reader's Digest as a book supplement which helped popularize his message. In an introduction to the Reader's Digest version, Lowell Thomas, the "as told to" author of Butler's oral autobiographical adventures, praised Butler's "moral as well as physical courage".

Arguing with Zombies: Economics, Politics, and the Fight for a Better Future


Paul Krugman - 2020
    Likewise, there is no stronger foe of zombie economics, the misunderstandings that just won’t die.In Arguing with Zombies, Krugman tackles many of these misunderstandings, taking stock of where the United States has come from and where it’s headed in a series of concise, digestible chapters. Drawn mainly from his popular New York Times column, they cover a wide range of issues, organized thematically and framed in the context of a wider debate. Explaining the complexities of health care, housing bubbles, tax reform, Social Security, and so much more with unrivaled clarity and precision, Arguing with Zombies is Krugman at the height of his powers.Arguing with Zombies puts Krugman at the front of the debate in the 2020 election year and is an indispensable guide to two decades’ worth of political and economic discourse in the United States and around the globe. With quick, vivid sketches, Krugman turns his readers into intelligent consumers of the daily news and hands them the keys to unlock the concepts behind the greatest economic policy issues of our time. In doing so, he delivers an instant classic that can serve as a reference point for this and future generations.

Selling the Invisible: A Field Guide to Modern Marketing


Harry Beckwith - 1997
    A comprehensive guide to service marketing furnishes tips and advice on how one can apply one's business knowledge to any area of sales and marketing, from a home-based consultancy to a multinational brokerage firm.

The Aristocracy of Talent: How Meritocracy Made the Modern World


Adrian Wooldridge - 2021
    Wooldridge upends many common assumptions and provides an indispensable back story to this fraught and pressing issue.' Steven Pinker'The Aristocracy of Talent provides an important and needed corrective to contemporary critiques of meritocracy. It puts meritocracy in an illuminating historical and cross-cultural perspective that shows how crucial the judgment of people by their talents rather than their bloodlines or connections has been to creating the modern world. Highly recommended' Francis Fukuyama*Shortlisted for the 2021 Financial Times and McKinsey & Company Business Book of the Year Award*Meritocracy: the idea that people should be advanced according to their talents rather than their status at birth. For much of history this was a revolutionary thought, but by the end of the twentieth century it had become the world's ruling ideology. How did this happen, and why is meritocracy now under attack from both right and left? Adrian Wooldridge traces the history of meritocracy forged by the politicians and officials who introduced the revolutionary principle of open competition, the psychologists who devised methods for measuring natural mental abilities and the educationalists who built ladders of educational opportunity. He looks outside western cultures and shows what transformative effects it has had everywhere it has been adopted, especially once women were brought into the meritocractic system.Wooldridge also shows how meritocracy has now become corrupted and argues that the recent stalling of social mobility is the result of failure to complete the meritocratic revolution. Rather than abandoning meritocracy, he says, we should call for its renewal.

Destined for War: Can America and China Escape Thucydides’s Trap?


Graham Allison - 2017
    The reason is Thucydides’s Trap, a deadly pattern of structural stress that results when a rising power challenges a ruling one. This phenomenon is as old as history itself. About the Peloponnesian War that devastated ancient Greece, the historian Thucydides explained: “It was the rise of Athens and the fear that this instilled in Sparta that made war inevitable.” Over the past 500 years, these conditions have occurred sixteen times. War broke out in twelve of them. Today, as an unstoppable China approaches an immovable America and both Xi Jinping and Donald Trump promise to make their countries “great again,” the seventeenth case looks grim. Unless China is willing to scale back its ambitions or Washington can accept becoming number two in the Pacific, a trade conflict, cyberattack, or accident at sea could soon escalate into all-out war. In Destined for War, the eminent Harvard scholar Graham Allison explains why Thucydides’s Trap is the best lens for understanding U.S.-China relations in the twenty-first century. Through uncanny historical parallels and war scenarios, he shows how close we are to the unthinkable. Yet, stressing that war is not inevitable, Allison also reveals how clashing powers have kept the peace in the past — and what painful steps the United States and China must take to avoid disaster today.

Critical Mass: How One Thing Leads to Another


Philip Ball - 2003
    These new discoveries are part of an old tradition. In the seventeenth century the philosopher Thomas Hobbes, dismayed by the impending civil war in England, decided that he would work out what kind of government was needed for a stable society. His solution sparked a new way of thinking about human behavior in looking for the "scientific" rules of society.Adam Smith, Immanuel Kant, Auguste Comte, and John Stuart Mill pursued this idea from different political perspectives. But these philosophers lacked the tools that modern physics can now bring to bear on the matter. Philip Ball shows how, by using these tools, we can understand many aspects of mass human behavior. Once we recognize that we do not make most of our decisions in isolation but are affected by what others decide, we can start to discern a surprising and perhaps even disturbing predictability in our laws, institutions, and customs.Lively and compelling, Critical Mass is the first book to bring these new ideas together and to show how they fit within the broader historical context of a rational search for better ways to live.

The 100-Year Life: Living and Working in an Age of Longevity


Lynda Gratton - 2016
    But this well-established pathway is already beginning to collapse life expectancy is rising, final-salary pensions are vanishing, and increasing numbers of people are juggling multiple careers. Whether you are 18, 45 or 60, you will need to do things very differently from previous generations and learn to structure your life in completely new ways.The 100-Year Life is here to help.Drawing on the unique pairing of their experience in psychology and economics, Lynda Gratton and Andrew Scott offer a broad-ranging analysis as well as a raft of solutions, showing how to rethink your finances, your education, your career and your relationships and create a fulfilling 100-year life. · How can you fashion a career and life path that defines you and your values and creates a shifting balance between work and leisure?· What are the most effective ways of boosting your physical and mental health over a longer and more dynamic lifespan?· How can you make the most of your intangible assets ? such as family and friends ? as you build a productive, longer life?· In a multiple-stage life how can you learn to make the transitions that will be so crucial and experiment with new ways of living, working and learning?The 100-Year Life is a wake-up call that describes what to expect and considers the choices and options that you will face. It is also fundamentally a call to action for individuals, politicians, firms and governments and offers the clearest demonstration that a 100-year life can be a wonderful and inspiring one.

Against Empathy: The Case for Rational Compassion


Paul Bloom - 2016
    Many of our wisest policy-makers, activists, scientists, and philosophers agree that the only problem with empathy is that we don’t have enough of it.Nothing could be farther from the truth, argues Yale researcher Paul Bloom. In AGAINST EMPATHY, Bloom reveals empathy to be one of the leading motivators of inequality and immorality in society. Far from helping us to improve the lives of others, empathy is a capricious and irrational emotion that appeals to our narrow prejudices. It muddles our judgment and, ironically, often leads to cruelty. We are at our best when we are smart enough not to rely on it, but to draw instead upon a more distanced compassion.Basing his argument on groundbreaking scientific findings, Bloom makes the case that some of the worst decisions made by individuals and nations—who to give money to, when to go to war, how to respond to climate change, and who to imprison—are too often motivated by honest, yet misplaced, emotions. With precision and wit, he demonstrates how empathy distorts our judgment in every aspect of our lives, from philanthropy and charity to the justice system; from medical care and education to parenting and marriage. Without empathy, Bloom insists, our decisions would be clearer, fairer, and—yes—ultimately more moral.Brilliantly argued, urgent and humane, AGAINST EMPATHY shows us that, when it comes to both major policy decisions and the choices we make in our everyday lives, limiting our impulse toward empathy is often the most compassionate choice we can make.

Microtrends: The Small Forces Behind Tomorrow's Big Changes


Mark J. Penn - 2007
    One million people can create new market for a business, spark a social movement, or effect political change. In 1996, a microtrend identified by Penn ("soccer moms") was crucial in re-electing President Clinton. With years of experience as one of world's most highly regarded pollsters, Mark Penn identifies the new microtrends sweeping the world: *Single women by choice: More often than ever before, they aren't waiting for Mr. Right. They are raising children by themselves and buying their own homes.*Splitters: A growing number of middle-class residents are shuttling between two homes, creating new communities and dynamics in the real estate market.*Sun Haters: Environmentalists, skin cancer survivors, and parents concerned about the impact the sun is having on our health.*Philo-semites: A growing number of people want to date Jewish men and women.*Classical Music Dads: Older men who are fathers in their 40's and 50's and taking on a larger role in the nurturing of their children and becoming an important factor in consumer culture for kids. Penn highlights everything from religion to politics, from leisure pursuits to relationships. MICROTRENDS will take the reader deep into the worlds of polling, targeting, and psychographic analysis, reaching tantalizing conclusions through engaging analysis.