In this explosive book, Bryan Caplan argues that the primary function of education is not to enhance students' skill but to certify their intelligence, work ethic, and conformity—in other words, to signal the qualities of a good employee. Learn why students hunt for easy As and casually forget most of what they learn after the final exam, why decades of growing access to education have not resulted in better jobs for the average worker but instead in runaway credential inflation, how employers reward workers for costly schooling they rarely if ever use, and why cutting education spending is the best remedy.Caplan draws on the latest social science to show how the labor market values grades over knowledge, and why the more education your rivals have, the more you need to impress employers. He explains why graduation is our society's top conformity signal, and why even the most useless degrees can certify employability. He advocates two major policy responses. The first is educational austerity. Government needs to sharply cut education funding to curb this wasteful rat race. The second is more vocational education, because practical skills are more socially valuable than teaching students how to outshine their peers.Romantic notions about education being "good for the soul" must yield to careful research and common sense — The Case against Education points the way.

    It’s the epic story of the making of modern economics, and of how economics rescued mankind from squalor and deprivation by placing its material fate in its own hands rather than in Fate. Nasar’s account begins with Charles Dickens and Henry Mayhew observing and publishing the condition of the poor majority in mid-nineteenth-century London, the richest and most glittering place in the world. This was a new pursuit. She describes the often heroic efforts of Marx, Engels, Alfred Marshall, Beatrice and Sydney Webb, and the American Irving Fisher to put those insights into action—with revolutionary consequences for the world. From the great John Maynard Keynes to Schumpeter, Hayek, Keynes’s disciple Joan Robinson, the influential American economists Paul Samuelson and Milton Freedman, and India’s Nobel Prize winner Amartya Sen, she shows how the insights of these activist thinkers transformed the world—from one city, London, to the developed nations in Europe and America, and now to the entire planet. In Nasar’s dramatic narrative of these discoverers we witness men and women responding to personal crises, world wars, revolutions, economic upheavals, and each other’s ideas to turn back Malthus and transform the dismal science into a triumph over mankind’s hitherto age-old destiny of misery and early death. This idea, unimaginable less than 200 years ago, is a story of trial and error, but ultimately transcendent, as it is rendered here in a stunning and moving narrative.

    Allison is the longest-serving CEO of a top-25 financial institution, having served as Chairman of BB&T for twenty years. He currently serves as President and CEO of the Cato Institute and as a distinguished professor at the Wake Forest University Schools of Business. He is also one of the lead spokespersons for banking and policy reform today, appearing at universities and business groups nationwide and serving on the board of directors of the Ayn Rand Institute. He received a Lifetime Achievement Award from American Banker and was named one of the decade’s top 100 most successful CEOs by Harvard Business Review.

    But as costs levitate, that argument becomes more difficult to make. Today, we spend twice as much as Japan on health care—yet few would argue that our health care system is twice as good.Instead, startling new evidence suggests that one out of every three of our health care dollars is squandered on unnecessary or redundant tests; unproven, sometimes unwanted procedures; and overpriced drugs and devices that, too often, are no better than the less expensive products they have replaced.How did this happen? In Money-Driven Medicine, Maggie Mahar takes the reader behind the scenes of a $2 trillion industry to witness how billions of dollars are wasted in a Hobbesian marketplace that pits the industry's players against each other. In remarkably candid interviews, doctors, hospital administrators, patients, health care economists, corporate executives, and Wall Street analysts describe a war of "all against all" that can turn physicians, hospitals, insurers, drugmakers, and device makers into blood rivals. Rather than collaborating, doctors and hospitals compete. Rather than sharing knowledge, drugmakers and device makers divide value. Rather than thinking about long-term collective goals, the imperatives of an impatient marketplace force health care providers to focus on short-term fiscal imperatives. And so investments in untested bleeding-edge medical technologies crowd out investments in information technology that might, in the long run, not only reduce errors but contain costs.In theory, free market competition should tame health care inflation. In fact, Mahar demonstrates, when it comes to medicine, the traditional laws of supply and demand do not apply. Normally, when supply expands, prices fall. But in the health care industry, as the number and variety of drugs, devices, and treatments multiplies, demand rises to absorb the excess, and prices climb. Meanwhile, the perverse incentives of a fee-for-service system reward health care providers for doing more, not less.In this superbly written book, Mahar shows why doctors must take responsibility for the future of our health care industry. Today, she observes, "physicians have been stripped of their standing as professionals: Insurers address them as vendors ('Dear Health Care Provider'), drugmakers and device makers see them as customers (someone you might take to lunch or a strip club), while . . . consumers (aka patients) are encouraged to see their doctors as overpaid retailers. . . . Before patients can reclaim their rightful place as the center—and indeed as the raison d'être—of our health care system," Mahar suggests, "we must once again empower doctors . . . to practice patient-centered medicine—based not on corporate imperatives, doctors' druthers, or even patients' demands," but on the best scientific research available.

    Yet technology-driven change leads to growing misalignment between an innovative economy and anachronistic legal and political structures until the gap is closed by the modernization of America's institutions—often amid upheavals such as the Civil War and Reconstruction and the Great Depression and World War II.When the U.S. economy has flourished, government and business, labor and universities, have worked together in a never-ending project of economic nation building. As the United States struggles to emerge from the Great Recession, Michael Lind clearly demonstrates that Americans, since the earliest days of the republic, have reinvented the American economy - and have the power to do so again.

    The Third Edition expands on the earlier editions in two ways. First, the coverage has been rewritten and rearranged. Second, chapters have been added on game theory, oligopoly, asset markets, and information economics. The new chapters fully update the text, highlighting significant developments of the last decade at a level that is accessible for first-year graduate students.

    Stroup, and Dwight R. Lee are three of the most prominent economists today, and in "Common Sense Economics" they show us why economic understanding is an essential ingredient for life in today's society, a key element that empowers those who possess it to better take charge of their own lives and their own responsibilities to their society. In clear, powerful language free of any hint of jargon or obscurity, they illuminate the basic principles of supply and demand, private ownership, trade, and more. In a world where free trade, taxes, and government spending are issues everyone needs to understand, "Common Sense Economics" is a lucid, simple explanation of how and why our economy and our world work the way they do, and how and why individuals and nations prosper.

    

    Easternization is the defining trend of our age the growing wealth of Asian nations is transforming the international balance of power. This shift to the East is shaping the lives of people all over the world, the fate of nations, and the great questions of war and peace. A troubled but rising China is now challenging America s supremacy, and the ambitions of other Asian powers including Japan, North Korea, India, and Pakistan have the potential to shake the whole world. Meanwhile the West is struggling with economic malaise and political populism, the Arab world is in turmoil, and Russia longs to reclaim its status as a great power. As it becomes clear that the West s historic power and influence is receding, Gideon Rachman offers a road map to the turbulent process that will define the international politics of the twenty-first century."

    District Judge Stanley Sporkin. Teamed with the daughter of one of Bill Gates's closest associates, thirteen-year Microsoft veteran Marlin Eller shows us what it was like at every step along Gates's route to world domination, making all that's been written before seem like a rough guess. If the Justice Department had Eller and Edstrom investigating the current-headline-making antitrust case, they would have on the record many of Microsoft's most respected developers directly contradicting the "authorized" version of events being presented in court. They would know the real scoop on how Windows was developed in the first place, shedding new light on the 1988 Apple v. Microsoft lawsuit over the alleged copying of the Mac. They would even know the real story of how Microsoft killed off Go Corporation, told for the first time by the man who did the deed, Marlin Eller himself. Revealing the smoke-and-mirror deals, the palms greased to help launch a product that didn't exist, and the boneyard of once-thriving competitors targeted by the Gates juggernaut, this book demonstrates with often hilariously damning detail the Microsoft muddle that passes for strategic direction, offset by Gates's uncanny ability to come from behind to crush whoever's on top.

    Think your body is your own to control and dispose of as you wish? Think again. The United States Patent Office has granted at least 40,000 patents on genes controlling the most basic processes of human life, and more are pending. If you undergo surgery in many hospitals you must sign away ownership rights to your excised tissues, even if they turn out to have medical and fiscal value. Life itself is rapidly becoming a wholly owned subsidiary of the medical- industrial complex. Deadly Monopolies is a powerful, disturbing, and deeply researched book that illuminates this “life patent” gold rush and its harmful, and even lethal, consequences for public health. It examines the shaky legal, ethical, and social bases for Big Pharma’s argument that such patents are necessary to protect their investments in new drugs and treatments, arguing that they instead stifle the research, competition, and innovation that can drive down costs and save lives. In opposing the commodification of the body, Harriet Washington provides a crucial human dimension to an often all-too-abstract debate. Like the bestseller The Immortal Life of Henrietta Lacks, Deadly Monopolies reveals in shocking detail just how far the profit motive has encroached in colonizing human life and compromising medical ethics. It is sure to stir debate—and instigate change.

    Yet Nicholas Kristof and Sheryl WuDunn argue that it was the best thing that could have happened to Asia. It destroyed the cronyism, protectionism, and government regulation that had been crippling Asian business for decades, and it left in its wake a vast region of resilient and determined millions poised to wrest economic, diplomatic and military power from the West. Thunder from the East is a riveting look at a complex region, a fascinating panoply of compelling characters, and a prophetic analysis from arguably the West's most informed and intelligent writers on Asia.

    His students, some of the nation’s brightest minds, were adrift when it came to the big questions: how to think critically and creatively, and how to find a sense of purpose.Excellent Sheep takes a sharp look at the high-pressure conveyor belt that begins with parents and counselors who demand perfect grades and culminates in the skewed applications Deresiewicz saw firsthand as a member of Yale’s admissions committee. As schools shift focus from the humanities to "practical" subjects like economics and computer science, students are losing the ability to think in innovative ways. Deresiewicz explains how college should be a time for self-discovery, when students can establish their own values and measures of success, so they can forge their own path. He addresses parents, students, educators, and anyone who's interested in the direction of American society, featuring quotes from real students and graduates he has corresponded with over the years, candidly exposing where the system is broken and clearly presenting solutions.

    It shouldn't take a worldwide pandemic and nationwide protests to bring economic and racial inequality to the forefront of problems we desperately need to solve. But now that the opportunity is here, what should we do? How can we create more equality, opportunity, and growth for everyone? Not someday, but what can government and the private sector do right now to disrupt a status quo that almost everyone wants to change?In Common Sense, the New York Times best-selling author Joel Greenblatt offers an investor's perspective on building an economy that truly works for everyone. With dry wit and engaging storytelling, he makes a lively and provocative case for disruptive new approaches--some drawn from personal experience, some from the outside looking in. How can leading corporations immediately disrupt our education establishment while creating high-paying job opportunities for those currently left behind? If we want a living wage for everyone, how can we afford it while using an existing program to get it done now? If we subsidize banks, what simple changes can we make to the way we capitalize and regulate them to help grow the economy, increase access, and create more jobs (while keeping the risks and benefits where they belong)? Greenblatt also explains how dramatically increasing immigration would be like giving every American a giant bonus and the reason Australia might be the best place to learn about saving for retirement.Not everyone will agree with what Greenblatt has to say--but all of us can benefit from the conversations he aims to start.