Instead of a stable series of policies producing steady growth, China's financial sector has boomed and gone bust with regularity in each decade. The latest decade is little different. Chinese banks have become objects of political struggle while they totter under balance sheets bloated by the excessive state-directed lending and bond issuance of 2009. Looking forward, the government's response to the global financial crisis has created a banking system the stability of which can be maintained only behind the walls of a non-convertible currency, a myriad of off-balance sheet arrangements with non-public state entities and the strong support of its best borrowers--the politically potent National Champions--who are the greatest beneficiaries of the financial status quo.China's financial system is not a model for the west and, indeed, is not a sustainable arrangement for China itself as it seeks increasingly to assert its influence internationally. This is not a story of impending collapse, but of frustrated reforms that suggests that any full opening and meaningful reform of the financial sector is not, indeed cannot be, on the government's agenda anytime soon.

    A 15-hour workweek. Open borders. Does it sound too good to be true? One of Europe's leading young thinkers shows how we can build an ideal world today. "A more politically radical Malcolm Gladwell."—The New York Times After working all day at jobs we often dislike, we buy things we don't need. Rutger Bregman, a Dutch historian, reminds us it needn't be this way—and in some places it isn't. Rutger Bregman's TED Talk about universal basic income seemed impossibly radical when he delivered it in 2014. A quarter of a million views later, the subject of that video is being seriously considered by leading economists and government leaders the world over. It's just one of the many utopian ideas that Bregman proves is possible today. Utopia for Realists is one of those rare books that takes you by surprise and challenges what you think can happen. From a Canadian city that once completely eradicated poverty, to Richard Nixon's near implementation of a basic income for millions of Americans, Bregman takes us on a journey through history, and beyond the traditional left-right divides, as he champions ideas whose time have come. Every progressive milestone of civilization—from the end of slavery to the beginning of democracy—was once considered a utopian fantasy. Bregman's book, both challenging and bracing, demonstrates that new utopian ideas, like the elimination of poverty and the creation of the fifteen-hour workweek, can become a reality in our lifetime. Being unrealistic and unreasonable can in fact make the impossible inevitable, and it is the only way to build the ideal world.

    An unprecedented redistribution of jobs, population, and wealth is under way in America, and it is likely to accelerate in the years to come. America’s new economic map shows growing differences, not just between people but especially between communities. In this important and persuasive book, U.C. Berkeley economist Enrico Moretti provides a fresh perspective on the tectonic shifts that are reshaping America’s labor market—from globalization and income inequality to immigration and technological progress—and how these shifts are affecting our communities. Drawing on a wealth of stimulating new studies, Moretti uncovers what smart policies may be appropriate to address the social challenges that are arising. We’re used to thinking of the United States in dichotomous terms: red versus blue, black versus white, haves versus have-nots. But today there are three Americas. At one extreme are the brain hubs—cities like San Francisco, Boston, Austin, and Durham—with a well-educated labor force and a strong innovation sector. Their workers are among the most productive, creative, and best paid on the planet. At the other extreme are cities once dominated by traditional manufacturing, which are declining rapidly, losing jobs and residents. In the middle are a number of cities that could go either way. For the past thirty years, the three Americas have been growing apart at an accelerating rate. This divergence is one the most important recent developments in the United States and is causing growing geographic disparities is all other aspects of our lives, from health and longevity to family stability and political engagement. But the winners and losers aren’t necessarily who you’d expect. Moretti’s groundbreaking research shows that you don’t have to be a scientist or an engineer to thrive in one of these brain hubs. Among the beneficiaries are the workers who support the "idea-creators"—the carpenters, hair stylists, personal trainers, lawyers, doctors, teachers and the like. In fact, Moretti has shown that for every new innovation job in a city, five additional non-innovation jobs are created, and those workers earn higher salaries than their counterparts in other cities. It wasn’t supposed to be this way. As the global economy shifted from manufacturing to innovation, geography was supposed to matter less. But the pundits were wrong. A new map is being drawn—the inevitable result of deep-seated but rarely discussed economic forces. These trends are reshaping the very fabric of our society. Dealing with this split—supporting growth in the hubs while arresting the decline elsewhere—will be the challenge of the century, and　The New Geography of Jobs　lights the way.

    Houses, health care and higher education have become unaffordable to a majority of people, while the burden of unregulated monopolies, globalization and uncontrolled immigration has fallen disproportionately on the lower and middle classes. Wrapped in political correctness, an increasingly out of touch Western elite continues catering to special interests and fails to grasp the urgency for change. Populist movements harnessing public anger appear unable to propose and implement effective solutions. The last financial crisis was bad enough. But the next crisis will spread deeper and wider. And yet we stand economically, politically and most of all intellectually unprepared. This book is the story of how we have arrived at the brink of disaster and how we can move away from the win-lose policies of recent decades to restore much-needed balance.

    Or do they? In the first intellectual history of neoliberal globalism, Quinn Slobodian follows a group of thinkers from the ashes of the Habsburg Empire to the creation of the World Trade Organization to show that neoliberalism emerged less to shrink government and abolish regulations than to redeploy them at a global level.Slobodian begins in Austria in the 1920s. Empires were dissolving and nationalism, socialism, and democratic self-determination threatened the stability of the global capitalist system. In response, Austrian intellectuals called for a new way of organizing the world. But they and their successors in academia and government, from such famous economists as Friedrich Hayek and Ludwig von Mises to influential but lesser-known figures such as Wilhelm Röpke and Michael Heilperin, did not propose a regime of laissez-faire. Rather they used states and global institutions--the League of Nations, the European Court of Justice, the World Trade Organization, and international investment law--to insulate the markets against sovereign states, political change, and turbulent democratic demands for greater equality and social justice.Far from discarding the regulatory state, neoliberals wanted to harness it to their grand project of protecting capitalism on a global scale. It was a project, Slobodian shows, that changed the world, but that was also undermined time and again by the inequality, relentless change, and social injustice that accompanied it.

    He explains how bankers worldwide created a secret trillion-dollar machine that delivered cheap mortgages to the masses and riches beyond dreams to the financial innovators.Fundamental to this saga is how “the people who hated to lose” were persuaded to accept risk by “the people who loved to win.” Why did people come to trust and respect arcane financial tools? Who were the bankers competing to assemble the basic components into increasingly intricate machines? How did this process achieve its own unstoppable momentum—ending in collapse, bailouts, and a public outcry against the giants of finance?Provocative and intriguing, The Devil’s Derivatives sheds much-needed light on the forces that fueled the most brutal economic downturn since the Great Depression.

    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.

    Another Great Depression? Not quite. Noted economist and China expert Michael Pettis argues instead that we are undergoing a critical rebalancing of the world economies. Debunking popular misconceptions, Pettis shows that severe trade imbalances spurred on the recent financial crisis and were the result of unfortunate policies that distorted the savings and consumption patterns of certain nations. Pettis examines the reasons behind these destabilizing policies, and he predicts severe economic dislocations--a lost decade for China, the breaking of the Euro, and a receding of the U.S. dollar--that will have long-lasting effects.Pettis explains how China has maintained massive--but unsustainable--investment growth by artificially lowering the cost of capital. He discusses how Germany is endangering the Euro by favoring its own development at the expense of its neighbors. And he looks at how the U.S. dollar's role as the world's reserve currency burdens America's economy. Although various imbalances may seem unrelated, Pettis shows that all of them--including the U.S. consumption binge, surging debt in Europe, China's investment orgy, Japan's long stagnation, and the commodity boom in Latin America--are closely tied together, and that it will be impossible to resolve any issue without forcing a resolution for all.Demonstrating how economic policies can carry negative repercussions the world over, The Great Rebalancing sheds urgent light on our globally linked economic future.

    economy has become dependent on financial activities has been made abundantly clear. In "Capitalizing on Crisis," Greta Krippner traces the longer-term historical evolution that made the rise of finance possible, arguing that this development rested on a broader transformation of the U.S. economy than is suggested by the current preoccupation with financial speculation.Krippner argues that state policies that created conditions conducive to financialization allowed the state to avoid a series of economic, social, and political dilemmas that confronted policymakers as postwar prosperity stalled beginning in the late 1960s and 1970s. In this regard, the financialization of the economy was not a deliberate outcome sought by policymakers, but rather an inadvertent result of the state's attempts to solve other problems. The book focuses on deregulation of financial markets during the 1970s and 1980s, encouragement of foreign capital into the U.S. economy in the context of large fiscal imbalances in the early 1980s, and changes in monetary policy following the shift to high interest rates in 1979.Exhaustively researched, the book brings extensive new empirical evidence to bear on debates regarding recent developments in financial markets and the broader turn to the market that has characterized U.S. society over the last several decades.

    The gap between the haves and the have-nots has turned into a chasm. While the rich have found new ways of protecting their wealth, everyone else has suffered the penalties of austerity.But inequality is more than just economics. Being born outside the 1% has a dramatic impact on a person's potential: reducing life expectancy, limiting education and work prospects, and even affecting mental health.What is to be done? In Inequality and the 1% leading social thinker Danny Dorling lays bare the extent and true cost of the division in our society and asks what have the superrich ever done for us. He shows that inquality is the greatest threat we face and why we must urgently redress the balance.

    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.

    Books on the current financial crisis which started in late 2008 are a tad like that. Until now they have tended to deal with certain aspects of the crisis without looking at the bigger picture of what really went wrong. That bigger picture of the ongoing financial crisis has now started to evolve. Easy Money captures this big picture. The history of money and the financial system as it has evolved over the centuries stand at the heart of this endeavor. It explores the idea that the evolution of money over centuries has led to an easy money policy being followed by governments and central banks across the world, which in turn has fueled humongous Ponzi schemes, which have now started to unravel, bringing the whole world on the brink of a financial disaster. The book also explains how the lessons of the financial crisis have still not been learned, and in trying to deal with it, governments across the world are making the same mistakes which led to the current crisis in the first place.

    The shift toward automation is about to create a tsunami of unemployment. Not in the distant future—now. One recent estimate predicts 45 million American workers will lose their jobs within the next twelve years—jobs that won't be replaced. In a future marked by restlessness and chronic unemployment, what will happen to American society? In The War on Normal People, Andrew Yang paints a dire portrait of the American economy. Rapidly advancing technologies like artificial intelligence, robotics and automation software are making millions of Americans' livelihoods irrelevant. The consequences of these trends are already being felt across our communities in the form of political unrest, drug use, and other social ills. The future looks dire-but is it unavoidable? In The War on Normal People, Yang imagines a different future—one in which having a job is distinct from the capacity to prosper and seek fulfillment. At this vision's core is Universal Basic Income, the concept of providing all citizens with a guaranteed income-and one that is rapidly gaining popularity among forward-thinking politicians and economists. Yang proposes that UBI is an essential step toward a new, more durable kind of economy, one he calls "human capitalism."

    For over a decade,the authors have studied the world’s successful traders. Based on their learnings, they started practicing it and are now part of the 5%. Trade and Grow Rich teaches not just concepts but also methods with the help of anecdotes. This book has to be read one chapter at a time, rather than just being a one-time read. If you want to enjoy an adventurous journey to become a successful trader, then this is the book you are looking for!

    It is also vital that Scandinavians themselves read this book to help them understand the market reforms that are essential for a successful future.