Friedman, the Pulitzer Prize-winning foreign affairs columnist for The New York Times, offers an engrossing look at the new international system that is transforming world affairs today. Globalization has replaced the Cold War system with the integration of capital, technology, and information across national borders—uniting Brazilian peasants, Indonesian entrepreneurs, Chinese villagers, and Silicon Valley technocrats in a single global village. You cannot understand the morning news, know where to invest your money, or think about the future unless you understand this new system, which is profoundly influencing virtually every country in the world today. Friedman tells you what this electronic global economy is all about and what it will take to live within it.With vivid stories drawn from his extensive travels, he dramatizes the conflict of “the Lexus and the olive tree”—the tension between the globalization system and the ancient forces of culture, geography, tradition, and community. He also details the powerful backlash that globalization produces among those who feel brutalized by it, and he spells out what we all need to do to keep the Lexus and the olive tree in balance. For this new paperback edition, Friedman has substantially expanded and updated his provocative analysis, making it essential reading for all who care about how the world works now.

    He exposes the people and organizations that manipulate our perceptions and profit from our anxieties: politicians who win elections by heightening concerns about crime and drug use even as both are declining; advocacy groups that raise money by exaggerating the prevalence of particular diseases; TV news-magazines that monger a new scare every week to garner ratings.

    But the most important, consequential, and widening gap in American society is between the upper middle class and everyone else.Reeves defines the upper middle class as those whose incomes are in the top 20 percent of American society. Income is not the only way to measure a society, but in a market economy it is crucial because access to money generally determines who gets the best quality education, housing, health care, and other necessary goods and services.As Reeves shows, the growing separation between the upper middle class and everyone else can be seen in family structure, neighborhoods, attitudes, and lifestyle. Those at the top of the income ladder are becoming more effective at passing on their status to their children, reducing overall social mobility. The result is not just an economic divide but a fracturing of American society along class lines. Upper-middle-class children become upper-middle-class adults.These trends matter because the separation and perpetuation of the upper middle class corrode prospects for more progressive approaches to policy. Various forms of “opportunity hoarding” among the upper middle class make it harder for others to rise up to the top rung. Examples include zoning laws and schooling, occupational licensing, college application procedures, and the allocation of internships. Upper-middle-class opportunity hoarding, Reeves argues, results in a less competitive economy as well as a less open society.Inequality is inevitable and can even be good, within limits. But Reeves argues that society can take effective action to reduce opportunity hoarding and thus promote broader opportunity. This fascinating book shows how American society has become the very class-defined society that earlier Americans rebelled against—and what can be done to restore a more equitable society.

    Crafting an engrossing journey from the gushing Pennsylvania oil fields of the 1860s to today's fraught and fractious Middle East, Crude Volatility explains how past periods of stability and volatility in oil prices help us understand the new boom-bust era. Oil's notorious volatility has always been considered a scourge afflicting not only the oil industry but also the broader economy and geopolitical landscape; Robert McNally makes sense of how oil became so central to our world and why it is subject to such extreme price fluctuations.Tracing a history marked by conflict, intrigue, and extreme uncertainty, McNally shows how--even from the oil industry's first years--wild and harmful price volatility prompted industry leaders and officials to undertake extraordinary efforts to stabilize oil prices by controlling production. Herculean market interventions--first, by Rockefeller's Standard Oil, then, by U.S. state regulators in partnership with major international oil companies, and, finally, by OPEC--succeeded to varying degrees in taming the beast. McNally, a veteran oil market and policy expert, explains the consequences of the ebbing of OPEC's power, debunking myths and offering recommendations--including mistakes to avoid--as we confront the unwelcome return of boom and bust oil prices.

    The contributors argue that structural poverty can be abolished by liberating market exchange from state capitalist privilege, as well as helping working people to take control of their labour.

    They got an education.When Mark Zuckerberg announced to a cheering Oprah audience his $100 million pledge to transform the downtrodden schools of Newark, New Jersey, then mayor Cory Booker and Governor Chris Christie were beside him, vowing to help make Newark “a symbol of educational excellence for the whole nation.” But their plans soon ran into the city’s seasoned education players, fierce protectors of their billion-dollar-a-year system. It’s a prize that, for generations, has enriched seemingly everyone, except Newark’s children.Dale Russakoff delivers a riveting drama of our times, encompassing the rise of celebrity politics, big philanthropy, extreme economic inequality, the charter school movement, and the struggles and triumphs of schools in one of the nation’s poorest cities. As Cory Booker navigates between his status as “rock star mayor” on Oprah’s stage and object of considerable distrust at home, the tumultuous changes planned by reformers and their highly paid consultants spark a fiery grassroots opposition stoked by local politicians and union leaders. The growth of charters forces the hand of Newark’s school superintendent Cami Anderson, who closes, consolidates, or redesigns more than a third of the city’s schools—a scenario on the horizon for many urban districts across America.Russakoff provides a close-up view of twenty-six-year-old Zuckerberg and his wife as they decide to give the immense sum of money to Newark and then experience an education of their own amid the fallout of the reforms. Most moving are Russakoff’s portraits from inside classrooms, as homegrown teachers and principals battle heroically to reach students damaged by extreme poverty and violence.The Prize is an absorbing portrait of a titanic struggle, indispensable for anyone who cares about the future of public education and the nation’s children.

     Over a period of more than ten years, following the overthrow of the government in 1910, Mexico experienced a period of intense and bloody warfare as a bewildering array of factions in ever-changing alliances took power and then lost it. Presidents were elected (or elected themselves) and were then deposed or assassinated. New factions appeared with impressive sounding slogans, took to the field, and were either wiped out and never heard of again or became the next government. Inside you will read about... ✓ The Porfiriato ✓ The Unlikely Revolutionary ✓ Reign and Assassination of Madero ✓ The Iron Hand of Huerta ✓ Carranza Takes on Zapata and Villa ✓ Last Man Standing And much more! The Mexican Revolution is confusing and difficult to understand—there is, for example, still no agreement between scholars and historians on when it ended—but it is essential in understanding the national identity of modern Mexico. The civil war produced heroes whose names live on in legend and villains whose bloody exploits are still horrifying. It also caused anything up to two million casualties both as a direct result of the fighting and in the famine, economic hardship, and disease which followed in its wake. Modern Mexico was created out of the turmoil of the Mexican Revolution; this is the story of la revolución mexicana.

    The Chickenshit Club—an inside reference to prosecutors too scared of failure and too daunted by legal impediments to do their jobs—explains why in “an absorbing financial history, a monumental work of journalism…a first-rate study of the federal bureaucracy” (Bloomberg Businessweek).Jesse Eisigner begins the story in the 1970s, when the government pioneered the notion that top corporate executives, not just seedy crooks, could commit heinous crimes and go to prison. He brings us to trading desks on Wall Street, to corporate boardrooms and the offices of prosecutors and FBI agents. These revealing looks provide context for the evolution of the Justice Department’s approach to pursuing corporate criminals through the early 2000s and into the Justice Department’s approach to pursuing corporate criminals through the early 2000s and into the Justice Department of today, including the prosecutorial fiascos, corporate lobbying, trial losses, and culture shifts that have stripped the government of the will and ability to prosecute top corporate executives.“Brave and elegant….a fearless reporter…Eisinger’s important and profound book takes no prisoners (The Washington Post). Exposing one of the most important scandals of our time, The Chickenshit Club provides a clear, detailed explanation as to how our Justice Department has come to avoid, bungle, and mismanage the fight to bring these alleged criminals to justice. “This book is a wakeup call…a chilling read, and a needed one” (NPR.org).

    This new translation of Volume One, the only volume to be completed and edited by Marx himself, avoids some of the mistakes that have marred earlier versions and seeks to do justice to the literary qualities of the work. The introduction is by Ernest Mandel, author of Late Capitalism, one of the only comprehensive attempts to develop the theoretical legacy of Capital.

    As banks collapsed and the state scrambled to organize one of the largest transfers of wealth in history, many--including economists and financial experts--were shocked by the speed at which events unfolded.In this new book, John Bellamy Foster and Fred Magdoff offer a bold analysis of the financial meltdown, how it developed, and the implications for the future. They examine the specifics of the housing bubble and the credit crunch as well as situate current events within a broader crisis of monopoly-finance capitalism--one that has been gestating for several decades. It is the "real" productive economy's tendency toward stagnation, they argue, that creates a need for capital to find ways to profitably invest its surplus. But rather than invest in socially useful projects that would benefit the vast majority, capital has constructed a financialized "casino" economy that neglects social needs and, as has become increasingly clear, is fatally unstable. Written over a two-year period immediately prior to the onset of the crisis, this timely and illuminating book is necessary reading for all those who wish to understand the current situation, how we got here, and where we are heading.

    Both state control and privatization of resources have been advocated, but neither the state nor the market have been uniformly successful in solving common pool resource problems. After critiquing the foundations of policy analysis as applied to natural resources, Elinor Ostrom here provides a unique body of empirical data to explore conditions under which common pool resource problems have been satisfactorily or unsatisfactorily solved. Dr. Ostrom first describes three models most frequently used as the foundation for recommending state or market solutions. She then outlines theoretical and empirical alternatives to these models in order to illustrate the diversity of possible solutions. In the following chapters she uses institutional analysis to examine different ways--both successful and unsuccessful--of governing the commons. In contrast to the proposition of the tragedy of the commons argument, common pool problems sometimes are solved by voluntary organizations rather than by a coercive state. Among the cases considered are communal tenure in meadows and forests, irrigation communities and other water rights, and fisheries.

    We live in an age of winners and losers, where the odds are stacked in favour of the already fortunate. Stalled social mobility and entrenched inequality give the lie to the promise that "you can make it if you try". And the consequence is a brew of anger and frustration that has fuelled populist protest, with the triumph of Brexit and election of Donald Trump.Michael J. Sandel argues that to overcome the polarized politics of our time, we must rethink the attitudes toward success and failure that have accompanied globalisation and rising inequality. Sandel highlights the hubris a meritocracy generates among the winners and the harsh judgement it imposes on those left behind. He offers an alternative way of thinking about success - more attentive to the role of luck in human affairs, more conducive to an ethic of humility, and more hospitable to a politics of the common good.

    This restoration project has yielded a collection to treasure. After years of hard work and preparation, we can only report that it is an emotionally thrilling moment to finally offer to the general public. Claude Frédéric Bastiat was an economist and publicist of breathtaking intellectual energy and massive historical influence. He was born in Bayonne, France on June 29th, 1801. After the middle-class Revolution of 1830, Bastiat became politically active and was elected Justice of the Peace in 1831 and to the Council General (county-level assembly) in 1832. He was elected to the national legislative assembly after the French Revolution of 1848. Bastiat was inspired by and routinely corresponded with Richard Cobden and the English Anti-Corn Law League and worked with free-trade associations in France. Bastiat wrote sporadically starting in the 1830s, but in 1844 he launched his amazing publishing career when an article on the effects of protectionism on the French and English people was published in the Journal des Economistes which was held to critical acclaim. The bulk of his remarkable writing career that so inspired the early generation of English translators and so many more is contained in this collection. If we were to take the greatest economists from all ages and judge them on the basis of their theoretical rigor, their influence on economic education, and their impact in support of the free-market economy, then Frédéric Bastiat would be at the top of the list. These volumes bring together his greatest works and represents the early generation of English translations. These translators were like Bastiat himself, people from the private sector who had a love of knowledge and truth and who altered their careers to vigorously pursue intellectual ventures, scholarly publishing, and advocacy of free trade. The collection consists of three sections, the first of which contains his best-known essays. In That Which is Seen, and That Which is Not Seen, Bastiat equips the reader to become an economist in the first paragraph and then presents the story of the broken window where a hoodlum is thought to create jobs and prosperity by breaking windows. Bastiat solves the quandary of prosperity via destruction by noting that while the apparent prosperity is seen, what is unseen is that which would have been produced had the windows not been broken. The second section is Bastiat s Economic Sophisms, a collection of 35 articles on the errors of protectionism broadly conceived. Here Bastiat shows his mastery of the methods of argumentation, using basic logic and taking arguments to their logical extreme to demonstrate and ridicule them as obvious fallacies. In his Negative Railroad Bastiat argues that if an artificial break in a railroad causes prosperity by creating jobs for boatmen, porters, and hotel owners, then there should be not one break, but many, and indeed the railroad should be just a series of breaks a negative railroad. The third section is Bastiat's Economic Harmonies which was hastily written before his death in 1850 and is considered incomplete. Here he demonstrates that the interests of everyone in society are in harmony to the extent that property rights are respected. Because there are no inherent conflicts in the market, government intervention is unnecessary. Here we find a powerful but sadly neglected defense of the main thesis of old-style liberalism: that society and economy are capable of self-managing. Unless this insight is understood and absorbed, a person can never really come to grips with the main meaning of liberty.

    Pundits and politically motivated economists trumpet ambiguous statistics and sensational theories while ignoring the true determinant of income inequality: the production of wealth. We cannot properly understand inequality if we focus exclusively on the distribution of wealth and ignore wealth production factors such as geography, demography, and culture.Sowell contends that liberals have a particular interest in misreading the data and chastises them for using income inequality as an argument for the welfare state. Refuting Thomas Piketty, Paul Krugman, and others on the left, Sowell draws on accurate empirical data to show that the inequality is not nearly as extreme or sensational as we have been led to believe.Transcending partisanship through a careful examination of data, Wealth, Poverty, and Politics reveals the truth about the most explosive political issue of our time.

    This book tackles such questions head-on.   The authors begin with the great economist John Maynard Keynes. In 1930 Keynes predicted that, within a century, per capita income would steadily rise, people’s basic needs would be met, and no one would have to work more than fifteen hours a week. Clearly, he was wrong: though income has increased as he envisioned, our wants have seemingly gone unsatisfied, and we continue to work long hours.   The Skidelskys explain why Keynes was mistaken. Then, arguing from the premise that economics is a moral science, they trace the concept of the good life from Aristotle to the present and show how our lives over the last half century have strayed from that ideal. Finally, they issue a call to think anew about what really matters in our lives and how to attain it.   How Much Is Enough? is that rarity, a work of deep intelligence and ethical commitment accessible to all readers. It will be lauded, debated, cited, and criticized. It will not be ignored.