For the first time, the major developed economies began to invest more in intangible assets, like design, branding, R&D, and software, than in tangible assets, like machinery, buildings, and computers. For all sorts of businesses, from tech firms and pharma companies to coffee shops and gyms, the ability to deploy assets that one can neither see nor touch is increasingly the main source of long-term success.But this is not just a familiar story of the so-called new economy. Capitalism without Capital shows that the growing importance of intangible assets has also played a role in some of the big economic changes of the last decade. The rise of intangible investment is, Jonathan Haskel and Stian Westlake argue, an underappreciated cause of phenomena from economic inequality to stagnating productivity.Haskel and Westlake bring together a decade of research on how to measure intangible investment and its impact on national accounts, showing the amount different countries invest in intangibles, how this has changed over time, and the latest thinking on how to assess this. They explore the unusual economic characteristics of intangible investment, and discuss how these features make an intangible-rich economy fundamentally different from one based on tangibles.Capitalism without Capital concludes by presenting three possible scenarios for what the future of an intangible world might be like, and by outlining how managers, investors, and policymakers can exploit the characteristics of an intangible age to grow their businesses, portfolios, and economies.

    The emergence of factories, railroads, and gunboats propelled the West’s rise to power in the nineteenth century, and the development of computers and nuclear weapons in the twentieth century secured its global supremacy. Now, at the beginning of the twenty-first century, many worry that the emerging economic power of China and India spells the end of the West as a superpower. In order to understand this possibility, we need to look back in time. Why has the West dominated the globe for the past two hundred years, and will its power last?Describing the patterns of human history, the archaeologist and historian Ian Morris offers surprising new answers to both questions. It is not, he reveals, differences of race or culture, or even the strivings of great individuals, that explain Western dominance. It is the effects of geography on the everyday efforts of ordinary people as they deal with crises of resources, disease, migration, and climate. As geography and human ingenuity continue to interact, the world will change in astonishing ways, transforming Western rule in the process.Deeply researched and brilliantly argued, Why the West Rules—for Now spans fifty thousand years of history and offers fresh insights on nearly every page. The book brings together the latest findings across disciplines—from ancient history to neuroscience—not only to explain why the West came to rule the world but also to predict what the future will bring in the next hundred years.

    What are the ten principles of concentration of wealth and power at work in America today? They're simple enough: reduce democracy, shape ideology, redesign the economy, shift the burden onto the poor and middle classes, attack the solidarity of the people, let special interests run the regulators, engineer election results, use fear and the power of the state to keep the rabble in line, manufacture consent, marginalize the population. In Requiem for the American Dream, Chomsky devotes a chapter to each of these ten principles, and adds readings from some of the core texts that have influenced his thinking to bolster his argument.To create Requiem for the American Dream, Chomsky and his editors, the filmmakers Peter Hutchison, Kelly Nyks, and Jared P. Scott, spent countless hours together over the course of five years, from 2011 to 2016. After the release of the film version, Chomsky and the editors returned to the many hours of tape and transcript and created a document that included three times as much text as was used in the film. The book that has resulted is nonetheless arguably the most succinct and tightly woven of Chomsky's long career, a beautiful vessel--including old-fashioned ligatures in the typeface--in which to carry Chomsky's bold and uncompromising vision, his perspective on the economic reality and its impact on our political and moral well-being as a nation."During the Great Depression, which I'm old enough to remember, it was bad–much worse subjectively than today. But there was a sense that we'll get out of this somehow, an expectation that things were going to get better . . ." —from Requiem for the American Dream

    In this course, The Great Courses partners with the Smithsonian - one of the world's most storied and exceptional educational institutions - to examine the extraordinary events of this period and uncover the far-reaching impact of this incredible revolution. Over the course of 36 thought-provoking lectures, longtime Great Courses favorite Professor Allitt introduces you to the inventors, businessmen, and workers responsible for transforming virtually every aspect of our lives and fueling one of the greatest periods of innovation in human history. The technological achievements of this era are nothing short of astonishing. Thanks to inventions such as the steam engine and processes such as large-scale iron smelting, industrial entrepreneurs were able to mechanize labor, which allowed for a host of new efficiencies such as division of labor, mass production, and global distribution. You'll discover the science behind some of the most astounding inventions in modern history, including the spinning jenny, the incandescent light bulb, and the computer processor. You'll learn how these inventions came about and consider what effects these technologies had on every aspect of human life. Get an inside look at the history of industrial innovation and explore the lives of engineers, inventors, architects, and designers responsible for changing the world - as well as ordinary workers who lost their livelihoods to new technologies and suffered from unsafe working conditions. The story of the Industrial Revolution is complex, and these lectures will leave you with a new appreciation for the amazing human achievements all around us.

    He demonstrates that the principles the British devised incorporated contradictory visions of India, yet together they made the authority of the Raj lawful. Students of modern India and the British Empire will find this book relevant and accessible.

    The squalid and turbulent prisons of London were overflowing, and crime was on the rise. Even the hulks sifting at anchor in the Thames were packed with malcontent criminals and petty thieves. So the English government decided to undertake the unprecedented move of shipping off its convicts to a largely unexplored landmass at the other end of the world.Using the personal journals and documents that were kept during this expedition, historian/novelist Thomas Keneally re-creates the grueling overseas voyage, a hellish, suffocating journey that claimed the lives of many convicts. Miraculously, the fleet reached the shores of what was then called New South Wales in 1788, and after much trial and error, the crew managed to set up a rudimentary yet vibrant settlement. As governor of the colony, Phillip took on the challenges of dealing with unruly convicts, disgruntled officers, a bewildered, sometimes hostile native population, as well as such serious matters as food shortages and disease. Moving beyond Phillip, Keneally offers captivating portrayals of Aborigines, who both aided and opposed Phillip, and of the settlers, including convicts who were determined to overcome their pasts and begin anew.With the authority of a renowned historian and the narrative grace of a brilliant novelist, Thomas Keneally offers an insider’s perspective into the dramatic saga of the birth of a vibrant society in an unfamiliar land. A Commonwealth of Thieves immerses us in the fledgling penal colony and conjures up colorful scenes of the joy and heartbreak, the thrills and hardships that characterized those first four improbable years. The result is a lively and engrossing work of history, as well as a tale of redemption for the thousands of convicts who started new lives thousands of miles from their homes.

    Course Lecture Titles (36 lectures, 30 minutes/lecture)1. Why We Study History 2. World War I and the Lessons of History 3. Hitler's Rise and the Lessons of History 4. World War II and the Lessons of History 5. Is Freedom a Universal Value? 6. Birth of Civilization in the Middle East 7. The Trojan War and the Middle East 8. Ancient Israel and the Middle East 9. Ancient Greece and the Middle East 10. Athenian Democracy and Empire 11. The Destiny of the Athenian Democracy 12. Alexander the Great and the Middle East 13. The Roman Republic as Superpower 14. Rome of the Caesars as Superpower 15. Rome and the Middle East 16. Why the Roman Empire Fell 17. Christianity 18. Islam 19. The Ottoman Empire and Turkey 20. The Spanish Empire and Latin America 21. Napoleon's Liberal Empire 22. The British Empire in India 23. Russia and Empire 24. China and Empire 25. The Empire of Genghis Khan 26. Britain's Legacy of Freedom 27. George Washington as Statesman 28. Thomas Jefferson as Statesman 29. America's Empire of LibertyLewis and Clark 30. America and Slavery 31. Abraham Lincoln as Statesman 32. The United States and Empire 33. Franklin Roosevelt as Statesman 34. A Superpower at the Crossroads 35. The Wisdom of History and the Citizen 36. The Wisdom of History and You Wisdom of History (36 lectures, 30 minutes/lecture)Course No. 4360 Taught by J. Rufus FearsUniversity of OklahomaPh.D., Harvard University

    One English critic called The Abolition of Britain “an elegant jeremiad” in which Peter Hitchens identifies everything that has gone wrong with Britain since World War II and makes the case for “those many millions who feel that they have become foreigners in their own land and wish with each succeeding day that they could turn the clock back.” Writing with passion and flair, Hitchens targets the pernicious effects of TV culture, the “corruption and decay” of the English language, the loss of politeness, and the “syrupy confessional mood” brought on by the death of Diana, which Hitchens contrasts with the somber national response to the death of Winston Churchill. If there is a term that summarizes everything that has gone wrong in Britain, it is “Tony Blairism,” which Hitchens sees as having rewritten England’s history, trivialized its journalism, subverted its educational system and cultural standards, and overthrown accepted notions of patriotism, faith, and morality. The New Britain is government by focus group in which people are told what to feel as a way of preventing them from asking how they want to be governed. Looking at the changed face of his country, Hitchens finds a “politically correct zeal for the new” whose impact on daily life has been “as devastating in effect, if not in violence, as Mao tse Tung’s Cultural Revolution in China.”

    His unique knowledge of this complex, war-torn region gives him a panoramic vision and grasp of nuance that no Western writer can emulate.

    In contrast, they have advanced a policy of draconian budget cuts--austerity--to solve the financial crisis. We are told that we have all lived beyond our means and now need to tighten our belts. This view conveniently forgets where all that debt came from. Not from an orgy of government spending, but as the direct result of bailing out, recapitalizing, and adding liquidity to the broken banking system. Through these actions private debt was rechristened as government debt while those responsible for generating it walked away scot free, placing the blame on the state, and the burden on the taxpayer. That burden now takes the form of a global turn to austerity, the policy of reducing domestic wages and prices to restore competitiveness and balance the budget. The problem, according to political economist Mark Blyth, is that austerity is a very dangerous idea. First of all, it doesn't work. As the past four years and countless historical examples from the last 100 years show, while it makes sense for any one state to try and cut its way to growth, it simply cannot work when all states try it simultaneously: all we do is shrink the economy. In the worst case, austerity policies worsened the Great Depression and created the conditions for seizures of power by the forces responsible for the Second World War: the Nazis and the Japanese military establishment. As Blyth amply demonstrates, the arguments for austerity are tenuous and the evidence thin. Rather than expanding growth and opportunity, the repeated revival of this dead economic idea has almost always led to low growth along with increases in wealth and income inequality. Austerity demolishes the conventional wisdom, marshaling an army of facts to demand that we austerity for what it is, and what it costs us.

    Those months saw the end of ninety years of the British Raj, and the effective power of the Maharajahs, as the Congress Party established itself commanding a democratic government in Delhi. They also witnessed the rushed creation of Pakistan as a country in two halves whose capitals were two thousand kilometers apart. From September to December 1947 the euphoria surrounding the realization of the dream of independence dissipated into shame and incrimination; nearly 1 million people died and countless more lost their homes and their livelihoods as partition was realized. The events of those months would dictate the history of South Asia for the next seventy years, leading to three wars, countless acts of terrorism, polarization around the Cold War powers and to two nations with millions living in poverty spending disproportionate amounts on their military. The roots of much of the violence in the region today, and worldwide, are in the decisions taken that year.   Not only were those decisions controversial but the people who made them were themselves to become some of the most enduring characters of the twentieth century. Gandhi and Nehru enjoyed almost saint like status in India, and still do, whilst Jinnah is lionized in Pakistan. The British cast, from Churchill to Attlee and Mountbatten, find their contribution praised and damned in equal measure. Yet it is not only the national players whose stories fascinate. Many of those ordinary people who witnessed the events of that year are still alive. Although most were, predictably, only children, there are still some in their late eighties and nineties who have a clear recollection of the excitement and the horror. Illustrating the story of 1947 with their experiences and what independence and partition meant to the farmers of the Punjab, those living in Lahore and Calcutta, or what it felt like to be a soldier in a divided and largely passive army, makes the story real. Partition will bring to life this terrible era for the Indian Sub Continent.

    But in this major new work, Bancroft Prize-winning scholar Odd Arne Westad argues that the Cold War must be understood as a global ideological confrontation, with early roots in the Industrial Revolution and ongoing repercussions around the world.In The Cold War, Westad offers a new perspective on a century when great power rivalry and ideological battle transformed every corner of our globe. From Soweto to Hollywood, Hanoi, and Hamburg, young men and women felt they were fighting for the future of the world. The Cold War may have begun on the perimeters of Europe, but it had its deepest reverberations in Asia, Africa, and the Middle East, where nearly every community had to choose sides. And these choices continue to define economies and regimes across the world.Today, many regions are plagued with environmental threats, social divides, and ethnic conflicts that stem from this era. Its ideologies influence China, Russia, and the United States; Iraq and Afghanistan have been destroyed by the faith in purely military solutions that emerged from the Cold War.Stunning in its breadth and revelatory in its perspective, this book expands our understanding of the Cold War both geographically and chronologically, and offers an engaging new history of how today’s world was created.

    . . An open-eyed analysis of influential technology companies’ ambitions of interest to investors, tech users, and media consumers." —Library JournalIn Silicon States, renowned futurist and celebrated international think-tank leader Lucie Greene offers an unparalleled look at the players, promises, and potential problems of Big Tech. Through interviews with corporate leaders, influential venture capitalists, scholars, journalists, activists, and more, Greene explores the tension inherent in Silicon Valley’s global influence. If these companies can invent a social network, how might they soon transform our political and health-care systems? If they can revolutionize the cell phone, what might they do for space travel, education, or the housing market? As Silicon Valley faces increased scrutiny over its mistreatment of women, cultural shortcomings, and its role in widespread Russian election interference, we are learning where its interests truly lie, and about the great power these companies wield over an unsuspecting citizenry.While the promise of technology is seductive, it is important to understand these corporations’ possible impacts on our political and socioeconomic institutions. Greene emphasizes that before we hand our future over to a rarefied group of companies, we should examine the world they might build and confront its benefits, prejudices, and inherent flaws. Silicon States pushes us to ask if, ultimately, this is the future we really want.

    The firm--buttressed by the most aggressive and sophisticated p.r. machine in the financial industry--often boasts of "The Goldman Way," a business model predicated on hiring the most talented people, indoctrinating them in a corporate culture where partners stifle their egos for the greater good, and honoring the "14 Principles," the first of which is "Our clients' interests always come first." But there is another way of viewing Goldman--a secretive money-making machine that has straddled the line between conflict-of-interest and legitimate deal-making for decades; a firm that has exerted undue influence over government since the early part of the 20th century; a company composed of "cyborgs" who are kept in line by an internal "reputational risk department" staffed by former CIA operatives and private investigators; a workplace rife with brutal power struggles; a Wall Street titan whose clever bet against the mortgage market in 2007--a bet not revealed to its clients--may have made the financial ruin of the Great Recession worse. As William D. Cohan shows in his riveting chronicle of Goldman's rise to the summit of world capitalism, the firm has shown a remarkable ability to weather financial crises, congressional, federal and SEC investigations, and numerous lawsuits, all with its reputation and its enormous profits intact. By reading thousands of pages of government documents, court cases, SEC filings, Freedom of Information Act papers and other sources, and conducting over 100 interviews, including interviews with clients, competitors, regulators, current and former Goldman employees (including the six living men who have run Goldman), Cohan has constructed a vivid narrative that looks behind the veil of secrecy to reveal how Goldman has become so profitable, and so powerful. Part of the answer is the firm's assiduous cultivation of people in power--dating back to 1913, when Henry Goldman advised the government on how the new Federal Reserve, designed to oversee Wall Street, should be constituted. Sidney Weinberg, who ran the firm for four decades, advised presidents from Roosevelt to Kennedy and was nicknamed "The Politician" for his behind-the-scenes friendships with government officials.  Goldman executives ran fundraising efforts for Nixon, Reagan, Clinton and George W. Bush.  The firm showered lucrative consulting or speaking fees on figures like Henry Kissinger and Lawrence Summers. Famously, and fatefully, two Goldman leaders-- Robert Rubin and Henry Paulson--became Secretaries of the Treasury, where their actions both before and during the financial crisis of 2008 became the stuff of controversy and conspiracy theories.  Another major strand in the firm's DNA is its eagerness to deal on both sides of a transaction, eliding questions of conflict of interest by the mere assertion of their innate honesty and nobility, a refrain repeated many times in its history, most notoriously by current Goldman CEO Lloyd Blankfein's jesting assertion that he was doing "God's work." As Michiko Kakutani's New York Times review of HOUSE OF CARDS said, "Cohan writes with an insider's knowledge of the workings of Wall Street, a reporter's investigative instincts and a natural storyteller's narrative command." In MONEY & POWER, Cohan has marshaled all these gifts in a powerful and definitive account of an institution whose public claims of virtue look very much like ruthlessness when exposed to the light of day.

    There’s just one problem: those and many simi­lar statements are false. For the past few decades, Americans have spent billions of dollars on personal finance products. As salaries have stagnated and companies have cut back on benefits, we’ve taken matters into our own hands, embracing the can-do attitude that if we’re smart enough, we can overcome even daunting financial obstacles. But that’s not true. In this meticulously reported and shocking book, journalist and former financial columnist Helaine Olen goes behind the curtain of the personal finance industry to expose the myths, contradictions, and outright lies it has perpetuated. She shows how an industry that started as a response to the Great Depression morphed into a behemoth that thrives by selling us products and services that offer little if any help. Olen calls out some of the biggest names in the business, revealing how even the most respected gurus have engaged in dubious, even deceitful, prac­tices—from accepting payments from banks and corporations in exchange for promoting certain prod­ucts to blaming the victims of economic catastrophe for their own financial misfortune. Pound Foolish also disproves many myths about spending and saving, including:Small pleasures can bankrupt you: Gurus popular­ized the idea that cutting out lattes and other small expenditures could make us millionaires. But reduc­ing our caffeine consumption will not offset our biggest expenses: housing, education, health care, and retirement.Disciplined investing will make you rich: Gurus also love to show how steady investing can turn modest savings into a huge nest egg at retirement. But these calculations assume a healthy market and a lifetime without any setbacks—two conditions that have no connection to the real world.Women need extra help managing money: Product pushers often target women, whose alleged financial ignorance supposedly leaves them especially at risk. In reality, women and men are both terrible at handling finances.Financial literacy classes will prevent future eco­nomic crises: Experts like to claim mandatory sessions on personal finance in school will cure many of our money ills. Not only is there little evidence this is true, the entire movement is largely funded and promoted by the financial services sector.  Weaving together original reporting, interviews with experts, and studies from disciplines ranging from behavioral economics to retirement planning, Pound Foolish is a compassionate and compelling book that will change the way we think and talk about our money.