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.

    Their remarkable success appears to vindicate the old idea that modern society is too complex to be subjected to a plan. And yet, as Leigh Phillips and Michal Rozworski argue, much of the economy of the West is centrally planned at present. Not only is planning on vast scales possible, we already have it and it works. The real question is whether planning can be democratic. Can it be transformed to work for us?An engaging, polemical romp through economic theory, computational complexity, and the history of planning, The People’s Republic of Walmart revives the conversation about how society can extend democratic decision-making to all economic matters. With the advances in information technology in recent decades and the emergence of globe-straddling collective enterprises, democratic planning in the interest of all humanity is more important and closer to attainment than ever before.

     The result is thorough lambasting of the people who put Trump in place and the even more reprehensible people who have come out of the shadows since Trump's election. McMurrey takes on the whole cadre of cretinous creatures who flocked to Trump, from the right-wing nutjobs left over from the Tea Party years to the slime who admired him from playing a mogul on TV to the bottom-dwelling Republicans who just saw him as a thug and a bully who would get them what they wanted. TABLE OF CONTENTS 1. Trump, King of Assholes 2. Asshole Nation: Trump’s Natural Constituency 3. Why Trumpist Assholes are Republicans 4. Why Assholes are Comfortable in the Republican Party 5. Why Asshole Nation Adores Trump 6. Don’t Feel Bad for Trumpists 7. Beating Back Trump’s Asshole Nation 8. Even “Never-Trump” Republicans are Responsible for the Rise of Asshole Nation 9. Trump, Roy Moore, and the Rise of Scum America 10. Crush Scum America and Stop the Careening Eighteen-Wheeler of Democracy If you are disgusted by Trump and by knuckle-dragging conservatism, this book will be a pick-me-up during these dispiriting times. McMurrey speaks the language of anti-Trumpers. He recognizes that Trump mania is just the latests (and let's hope the last!) manifestation of conservatism—a worthless, unnecessary, and fear-filled ideology that promotes selfishness and anti-social attitudes. Pick up Asshole Nation for yourself and give copies to all your Trump-hating friends!

    Meanwhile, working-class Americans have been asked to pay more. The Triumph of Injustice presents a forensic investigation into this dramatic transformation, written by two economists who revolutionized the study of inequality. Eschewing anecdotes and case studies, Emmanuel Saez and Gabriel Zucman offer a comprehensive view of America’s tax system, based on new statistics covering all taxes paid at all levels of government. Their conclusion? For the first time in more than a century, billionaires now pay lower tax rates than their secretaries.Blending history and cutting-edge economic analysis, and writing in lively and jargon-free prose, Saez and Zucman dissect the deliberate choices (and sins of indecision) that have brought us to today: the gradual exemption of capital owners; the surge of a new tax avoidance industry; and the spiral of tax competition among nations. With clarity and concision, they explain how America turned away from the most progressive tax system in history to embrace policies that only serve to compound the wealth of a few.But The Triumph of Injustice is much more than a laser-sharp analysis of one of the great political and intellectual failures of our time. Saez and Zucman propose a visionary, democratic, and practical reinvention of taxes, outlining reforms that can allow tax justice to triumph in today’s globalized world and democracy to prevail over concentrated wealth.A pioneering companion website allows anyone to evaluate proposals made by the authors, and to develop their own alternative tax reform at taxjusticenow.org.

    Former Economic Hit Man John Perkins goes behind the scenes of the current geopolitical crisis and offers bold solutions to our most pressing problems. Drawing on interviews with other EHMs, jackals, CIA operatives, reporters, businessmen, and activists, Perkins reveals the secret history of events that have created the current American Empire, including: How the defeats in Vietnam and Iraq have benefited big businessThe role of Israel as Fortress America in the Middle EastTragic repercussions of the IMF's Asian Economic CollapseThe current Latin American revolution and its lessons for democracyU.S. blunders in Tibet, Congo, Lebanon, and VenezuelaFrom the U.S. military in Iraq to infrastructure development in Indonesia, from Peace Corps volunteers in Africa to jackals in Venezuela, Perkins exposes a conspiracy of corruption that has fueled instability and anti-Americanism around the globe, with consequences reflected in our daily headlines. Having raised the alarm, Perkins passionately addresses how Americans can work to create a more peaceful and stable world for future generations.

    For the first time in human history, the globe is dominated by one economic system. In Capitalism, Alone, leading economist Branko Milanovic explains the reasons for this decisive historical shift since the days of feudalism and, later, communism. Surveying the varieties of capitalism, he asks: What are the prospects for a fairer world now that capitalism is the only game in town? His conclusions are sobering, but not fatalistic. Capitalism gets much wrong, but also much right--and it is not going anywhere. Our task is to improve it.Milanovic argues that capitalism has triumphed because it works. It delivers prosperity and gratifies human desires for autonomy. But it comes with a moral price, pushing us to treat material success as the ultimate goal. And it offers no guarantee of stability. In the West, liberal capitalism creaks under the strains of inequality and capitalist excess. That model now fights for hearts and minds with political capitalism, exemplified by China, which many claim is more efficient, but which is more vulnerable to corruption and, when growth is slow, social unrest. As for the economic problems of the Global South, Milanovic offers a creative, if controversial, plan for large-scale migration. Looking to the future, he dismisses prophets who proclaim some single outcome to be inevitable, whether worldwide prosperity or robot-driven mass unemployment. Capitalism is a risky system. But it is a human system. Our choices, and how clearly we see them, will determine how it serves us.

    

    Although governments may presume to set "prices," it is individuals who, by their actions and choices through competitive bidding for money, products, and services, actually determine "prices". Thus, Mises presents economics—not as a study of material goods, services, and products—but as a study of human actions. He sees the science of human action, praxeology, as a science of reason and logic, which recognizes a regularity in the sequence and interrelationships among market phenomena. Mises defends the methodology of praxeology against the criticisms of Marxists, socialists, positivists, and mathematical statisticians.Mises attributes the tremendous technological progress and the consequent increase in wealth and general welfare in the last two centuries to the introduction of liberal government policies based on free-market economic teachings, creating an economic and political environment which permits individuals to pursue their respective goals in freedom and peace. Mises also explains the futility and counter-productiveness of government attempts to regulate, control, and equalize all people's circumstances: "Men are born unequal and ... it is precisely their inequality that generates social cooperation and civilization."Ludwig von Mises (1881–1973) was the leading spokesman of the Austrian School of Economics throughout most of the twentieth century. He earned his doctorate in law and economics from the University of Vienna in 1906. In 1926, Mises founded the Austrian Institute for Business Cycle Research. From 1909 to 1934, he was an economist for the Vienna Chamber of Commerce. Before the Anschluss, in 1934 Mises left for Geneva, where he was a professor at the Graduate Institute of International Studies until 1940, when he emigrated to New York City. From 1948 to 1969, he was a visiting professor at New York University.Bettina Bien Greaves is a former resident scholar, trustee, and longtime staff member of the Foundation for Economic Education. She has written and lectured extensively on topics of free market economics. Her articles have appeared in such journals as Human Events, Reason, and The Freeman: Ideas on Liberty. A student of Mises, Greaves has become an expert on his work in particular and that of the Austrian School of economics in general. She has translated several Mises monographs, compiled an annotated bibliography of his work, and edited collections of papers by Mises and other members of the Austrian School.

    And so, too often, 'the bland lead the bland'. Our unfamiliar problems need a new approach, and the reception given to this famous book has shown the value of its fresh, lively ideas.'A compelling challenge to conventional thought'  The New York Times'He shows himself a truly sensitive and civilized man, whose ideas are grounded in the common culture of the two continents, and may serve as a link between them; his book is of foremost importance for them both'  The Times Literary SupplementJohn Kenneth Galbraith (1908-2006) was a Canadian-American economist. A Keynesian and an institutionalist, Galbraith was a leading proponent of 20th-century American liberalism and progressivism. Galbraith was the author of 30 books, including The Economics of Innocent Fraud, The Great Crash: 1929, and A History of Economics.

    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.

    It gives moral legitimacy to the state. It makes limited forms of dissent and incremental change possible. The liberal class posits itself as the conscience of the nation. It permits us, through its appeal to public virtues and the public good, to define ourselves as a good and noble people. Most importantly, on behalf of the power elite the liberal class serves as bulwarks against radical movements by offering a safety valve for popular frustrations and discontentment by discrediting those who talk of profound structural change. Once this class loses its social and political role then the delicate fabric of a democracy breaks down and the liberal class, along with the values it espouses, becomes an object of ridicule and hatred. The door that has been opened to proto-fascists has been opened by a bankrupt liberalism The Death of the Liberal Class examines the failure of the liberal class to confront the rise of the corporate state and the consequences of a liberalism that has become profoundly bankrupted. Hedges argues there are five pillars of the liberal establishment – the press, liberal religious institutions, labor unions, universities and the Democratic Party— and that each of these institutions, more concerned with status and privilege than justice and progress, sold out the constituents they represented. In doing so, the liberal class has become irrelevant to society at large and ultimately the corporate power elite they once served.

    Yet, why was this collapse of Communism considered final, but the many failures of capitalism are considered temporary and episodic? In The Idea of Communism, Tariq Ali addresses this very question.The idea of Communism, argues Ali, was simple and noble. The Communist Manifesto, which advocated the creation of a society based on the principle of “from each according to his ability, to each according to his need” rather than a system based on greed and profit, appealed to millions all over the globe.  However, Ali argues that the vision of society adumbrated by the founders of Communism was a far cry from what became known as actually existing socialism in the Soviet Union and China. The Communist system that developed ignored Engels’s belief that a workers’ movement and its victory were inconceivable without freedom of the press and assembly. This freedom, Engels insisted, “is the air it needs to breathe.Here, in a thought-provoking re-evaluation, Ali argues that a new form of socialism and global planning is vital to save the planet from capitalist and environmental degradation.

    Drawing on years of research and first-hand reporting, Frank points out that the Democrats have done little to advance traditional liberal goals: expanding opportunity, fighting for social justice, and ensuring that workers get a fair deal. Indeed, they have scarcely dented the free-market consensus at all. This is not for lack of opportunity: Democrats have occupied the White House for sixteen of the last twenty-four years, and yet the decline of the middle class has only accelerated. Wall Street gets its bailouts, wages keep falling, and the free-trade deals keep coming.With his trademark sardonic wit and lacerating logic, Frank's Listen, Liberal lays bare the essence of the Democratic Party's philosophy and how it has changed over the years. A form of corporate and cultural elitism has largely eclipsed the party's old working-class commitment, he finds. For certain favored groups, this has meant prosperity. But for the nation as a whole, it is a one-way ticket into the abyss of inequality. In this critical election year, Frank recalls the Democrats to their historic goals-the only way to reverse the ever-deepening rift between the rich and the poor in America.

    Crime goes down. The prison population doubles. Fraud by the rich wipes out 40 percent of the world's wealth. The rich get massively richer. No one goes to jail.In search of a solution, journalist Matt Taibbi discovered the Divide, the seam in American life where our two most troubling trends--growing wealth inequality and mass incarceration--come together, driven by a dramatic shift in American citizenship: Our basic rights are now determined by our wealth or poverty. The Divide is what allows massively destructive fraud by the hyperwealthy to go unpunished, while turning poverty itself into a crime--but it's impossible to see until you look at these two alarming trends side by side.

    Big businesses, drug barons, insurers, accountants and international bureaucrats all encroach on the so-called sovereignty of the state. Professor Strange examines the implications of this rivalry and points to some new directions for research in international relations, international business and economics.