The book brings to life the people and ideas that forged modern finance and investing, from the formative days of Wall Street through the Great Depression and into the financial calamity of today. It's a tale that features professors who made and lost fortunes, battled fiercely over ideas, beat the house in blackjack, wrote bestselling books, and played major roles on the world stage. It's also a tale of Wall Street's evolution, the power of the market to generate wealth and wreak havoc, and free market capitalism's war with itself.The efficient market hypothesis--long part of academic folklore but codified in the 1960s at the University of Chicago--has evolved into a powerful myth. It has been the maker and loser of fortunes, the driver of trillions of dollars, the inspiration for index funds and vast new derivatives markets, and the guidepost for thousands of careers. The theory holds that the market is always right, and that the decisions of millions of rational investors, all acting on information to outsmart one another, always provide the best judge of a stock's value. That myth is crumbling.Celebrated journalist and columnist Fox introduces a new wave of economists and scholars who no longer teach that investors are rational or that the markets are always right. Many of them now agree with Yale professor Robert Shiller that the efficient markets theory "represents one of the most remarkable errors in the history of economic thought." Today the theory has given way to counterintuitive hypotheses about human behavior, psychological models of decision making, and the irrationality of the markets. Investors overreact, underreact, and make irrational decisions based on imperfect data. In his landmark treatment of the history of the world's markets, Fox uncovers the new ideas that may come to drive the market in the century ahead.

    Each time, the experts have chimed, "this time is different"--claiming that the old rules of valuation no longer apply and that the new situation bears little similarity to past disasters. With this breakthrough study, leading economists Carmen Reinhart and Kenneth Rogoff definitively prove them wrong. Covering sixty-six countries across five continents, This Time Is Different presents a comprehensive look at the varieties of financial crises, and guides us through eight astonishing centuries of government defaults, banking panics, and inflationary spikes--from medieval currency debasements to today's subprime catastrophe. Carmen Reinhart and Kenneth Rogoff, leading economists whose work has been influential in the policy debate concerning the current financial crisis, provocatively argue that financial combustions are universal rites of passage for emerging and established market nations. The authors draw important lessons from history to show us how much--or how little--we have learned. Using clear, sharp analysis and comprehensive data, Reinhart and Rogoff document that financial fallouts occur in clusters and strike with surprisingly consistent frequency, duration, and ferocity. They examine the patterns of currency crashes, high and hyperinflation, and government defaults on international and domestic debts--as well as the cycles in housing and equity prices, capital flows, unemployment, and government revenues around these crises. While countries do weather their financial storms, Reinhart and Rogoff prove that short memories make it all too easy for crises to recur. An important book that will affect policy discussions for a long time to come, This Time Is Different exposes centuries of financial missteps.

    What made ancient India the Golden Bird in the first place? What did China, the Land of the Dragon, have in common with India, and when did these two ancient civilizations diverge on their paths to global success? Raina Singhwi Jain discusses the immediate need and measures for a quantum jump in our attitude towards development. While conventional wisdom suggests improvements in manufacturing, the ease of doing business and digital technology, Jain goes a step further, drawing surprising parallels between other areas that beg our attention—process engineering, communication design, journalism, and education. This is a work of reflection and a call to action, urging Indian denizens to act now for a revival of the genius that lies dormant within each one of us.

    In twenty-four seasons pitcher Roger Clemens put together one of the greatest careers baseball has ever seen. Seven Cy Young Awards, two World Series championships, and 354 victories made him a lock for the Hall of Fame. But on December 13, 2007, the Mitchell Report laid waste to all that. Accusations that Clemens relied on steroids and human growth hormone provided and administered by his former trainer, Brian McNamee, have put Clemens in the crosshairs of a Justice Department investigation.Why did this happen? How did it happen? Who made the decisions that altered some lives and ruined others? How did a devastating culture of drugs, lies, sex, and cheating fester and grow throughout Major League Baseball's clubhouses? The answers are in these extraordinary pages.American Icon: The Fall of Roger Clemens and the Rise of Steroids in America’s Pastime is about much more than the downfall of a superstar. While the fascinating portrait of Clemens is certainly at the center of the action, the book takes us outside the white lines and inside the lives and dealings of sports executives, trainers, congressmen, lawyers, drug dealers, groupies, a porn star, and even a murderer—all of whom have ties to this saga. Four superb investigative journalists have spent years uncovering the truth, and at the heart of their investigation is a behind-the-scenes portrait of the maneuvering and strategies in the legal war between Clemens and his accuser, McNamee.This compelling story is the strongest examination yet of the rise of illegal drugs in America’s favorite sport, the gym-rat culture in Texas that has played such an important role in spreading those drugs, and the way Congress has dealt with the entire issue. Andy Pettitte, Jose Canseco, Alex Rodriguez, and Chuck Knoblauch are just a few of the other players whose moving and sometimes disturbing stories are illuminated here as well. The New York Daily News Sports Investigative Team has written the definitive book on corruption and the steroids era in Major League Baseball. In doing so, they have managed to dig beneath the disillusion and disappointment to give us a stirring look at heroes who all too often live unheroic shadow lives.

    The New Dealers had one. So did the Goldwater conservatives. So what's the progressive argument? What new path are Democrats urging us to choose in the era of Wal-Mart, Al Qaeda, and YouTube? Matt Bai seeks answers in The Argument, a book that brings you deep inside the turbulent, confusing new world of Democratic politics, where billionaires and bloggers are battling politicians and consultants over the future of a once-great party. Beginning with the devastating election of 2004 and ending with an unexpected triumph in the 2006 congressional elections and the run-up to the 2008 campaign, Bai's book follows such memorable power brokers as Howard Dean, the billionaire George Soros, the union leader Andy Stern, the blogger Markos Moulitsas, and the leaders of moveon.org as they vie for control of the new Democratic landscape. In the pages of The Argument, we are introduced to these activists not just as political figures but as fascinating and flawed characters-ordinary people motivated by ideology or ambition or even personal tragedy. At stake is the future of the Democratic Party and, quite possibly, of American politics itself. At a time when assorted pundits offer their ownprescriptions for Democratic success in the 2008 presidential election, Bai uses rich narrative and vivid portraits to illuminate the party's challenges. In scene after scene from around the country-with union bosses in Chicago, with Dean in Alaska, with movie stars in Hollywood and financiers in New York-Bai reveals a movement that is learning how to win again, even as it struggles to articulate a compelling argument for progressive government in a confusing new century. Readers of The Argument will recognize the unsparing insight and gift for storytelling that have made Matt Bai one of the country's most widely read observers of the American political scene-and its most trusted authority on the Democratic Party.

    The book is a detailed account of this very important but controversial figure in American history. The story is a “classic rags to riches” one and begins with his childhood in the British West Indies. Though his life is filled with tragedy and he is very poor, Hamilton manages to distinguish himself through his writing and his business skills. Eventually, he leaves the West Indies and immigrates to North America where he receives a first rate education. Later, he becomes a hero in the Revolutionary War and is appointed to be General George Washington’s right hand man. Because of his service to Washington, Hamilton becomes the Secretary of the Treasury when Washington is elected President. As a member of the new government, Hamilton makes significant contributions including setting up a banking system and a currency system which are still used today. He also plays a major role in the ratification of the United States Constitution. While Alexander Hamilton: Founding Father primarily focuses on Hamilton’s great contributions, it also presents his dark side. Though Hamilton married a wealthy woman and became a member of the aristocracy, he was also involved in a scandalous affair and ultimately died in a duel defending his honor.

    WHO WAS THOMAS PAINE?Thomas Paine is known as one of the Fathers of the American Revolution. His landmark work, ‘Common Sense’, is known as the major inspiration for the ‘Declaration of Independence’, and his ‘Crisis’ pamphlet series was a favourite of George Washington to read out loud to inspire his troops at Valley Forge.Paine’s work is passionate, radical, yet accessible; covering his strong beliefs in Independence, Personal Liberty, Politics, Religion and Government. Hugely successful and inspiring strong polarisation in their times, they are still must-reads today, still highly debated and revered.THE 'MUST-HAVE' COMPLETE COLLECTIONIn this irresistible collection you get a full set of this amazing work.YOU GET:*COMMON SENSE - the famous work that inspired the American colonists with a demand and call for freedom from British rule. Also notable, that when adjusted for the population size of 1776, ‘Common Sense’ has the largest sales and circulation of any book in American history.*THE AMERICAN CRISIS - a series of pamphlets published from 1776 to 1783 written to motivate the Troops during the revolution, to spur them to victory. The language is powerful and emotional, and reflects Paine's liberal philosophies. The first lines are the famous: “These are times that try men’s souls.”*THE RIGHTS OF MAN (PART I and PART II) – a radical set of books that argues that political revolution is required when a government does not safeguard its people.*THE AGE OF REASON (PART I and PART II) - a deistic work, about institutionalized religion, and Paine’s strong views concerning it.*LETTERS and MISCELLANEOUS WRITINGS – A FULL SET of Paine’s must-read letters and assorted short works from Paine, Including his famous ‘LETTER TO GEORGE WASHINGTON’ and his last work ‘AGRAGIAN JUSTICE’YOUR FREE BONUSESIn addition, you get Free Special Bonuses:*THOMAS PAINE, BIOGRAPHY – A fascinating 10 page biography, detailing Paine’s unbelievable, often sad, and often controversial life. *Works presented as far as possible in original publication date order so you can follow Paine’s growth as a writer and philosopher*Easy TABLE OF CONTENTS so you can easily jump to any book, chapter or letter in the collection.YOUR NEW WINDOW INTO THOMAS PAINEImagine the wonder of having this fantastic, enviable collection, that rivals many libraries, right at your fingertips. Imagine the pleasure of discovering more about Paine’s one of a kind works.DON’T MISS OUT!As you read this, you understand why you want this edition, because it is the best, most complete Thomas Paine collection you can get. You want the most complete collection so don’t deny yourself! And don't accept other collections that are lacking. And available on the Kindle, this big collection is yours for next to nothing.

    Some went on to create governments that were accountable to their constituents. We take these institutions for granted, but they are absent or are unable to perform in many of today’s developing countries—with often disastrous consequences for the rest of the world.Francis Fukuyama, author of the bestselling The End of History and the Last Man and one of our most important political thinkers, provides a sweeping account of how today’s basic political institutions developed. The first of a major two-volume work, The Origins of Political Order begins with politics among our primate ancestors and follows the story through the emergence of tribal societies, the growth of the first modern state in China, the beginning of the rule of law in India and the Middle East, and the development of political accountability in Europe up until the eve of the French Revolution.Drawing on a vast body of knowledge—history, evolutionary biology, archaeology, and economics—Fukuyama has produced a brilliant, provocative work that offers fresh insights on the origins of democratic societies and raises essential questions about the nature of politics and its discontents.

    Dent Jr., bestselling author of The Demographic Cliff and The Sale of a Lifetime, predicted the populist wave that has driven the Brexit vote, the election of Donald Trump, and other recent shocks around the world. Now he returns with the definitive guide to protect your investments and prosper in the age of the anti-globalist backlash.The turn of the 2020s will mark an extremely rare convergence of low points for multiple political, economic, and demographic cycles. The result will be a major financial crash and global upheaval that will dwarf the Great Recession of the 2000s—and maybe even the Great Depression of the 1930s. We’re facing the onset of what Dent calls “Economic Winter.”   In Zero Hour, he and Andrew Pancholi (author of The Market Timing Report newsletter) explain all of these cycles, which influence everything from currency valuations to election returns, from economic growth rates in Asia to birthrates in Europe. You’ll learn, for instance:   • Why the most-hyped technologies of recent years (self-driving cars, artificial intelligence, virtual reality, blockchain) won’t pay off until the 2030s.    • Why China may be the biggest bubble in the global economy (and you’d be a fool to invest there).    • Why you should invest in the healthcare and pharmaceutical industries, and pull out of real estate and automotive.    • Why putting your faith in gold is a bad idea.   Fortunately, Zero Hour includes a range of practical strategies to help you turn the upheaval ahead to your advantage, so your family can be prepared and protected.

    Contributors examine the state's handling of internal threats, tensions between civilians and the military, strategies of political parties, police and law enforcement reform, trends in judicial activism, the rise of border conflicts, economic challenges, financial entanglements with foreign powers, and diplomatic relations with India, China, Iran, Saudi Arabia, Afghanistan, and the United States.In addition to ethnic strife in Baluchistan and Karachi, terrorist violence in Pakistan in response to the American-led military intervention in Afghanistan and in the Federally Administered Tribal Areas by means of drones, as well as to Pakistani army operations in the Pashtun area, has reached an unprecedented level. There is a growing consensus among state leaders that the nation's main security threats may come not from India but from its spiraling internal conflicts, though this realization may not sufficiently dissuade the Pakistani army from targeting the country's largest neighbor. This volume is therefore critical to grasping the sophisticated interplay of internal and external forces complicating the country's recent trajectory.

    But with heated debates over taxation now roiling Congress and the nation, an understanding of our tax system is of vital importance. Taxes in America: What Everyone Needs to Know(R), by preeminent tax scholars Leonard E. Burman and Joel Slemrod, offers a clear, concise explanation of how our tax system works, how it affects people and businesses, and how it might be improved. Accessibly written and organized in a clear, question-and-answer format, the book describes the intricacies of the modern tax system in an easy-to-grasp manner. Burman and Slemrod begin with the basic definitions of taxes and then delve into more complicated and indeed contentious concerns. They address such questions as how to recognize Fool's Gold tax reform plans. How much more tax could the IRS collect with better enforcement? How do tax burdens vary around the world? Why do corporations pay so little tax, even though they earn trillions of dollars every year? And what kind of tax system is most conducive to economic growth?What Everyone Needs to Know(R) is a registered trademark of Oxford University Press.

    The authors construct a provocative theory on the selection of leaders and present specific formal models from which their central claims can be deduced. They show how political leaders allocate resources and how institutions for selecting leaders create incentives for leaders to pursue good and bad public policy. They also extend the model to explain the consequences of war on political survival. Throughout the book, they provide illustrations from history, ranging from ancient Sparta to Vichy France, and test the model against statistics gathered from cross-national data. The authors explain the political intuition underlying their theory in nontechnical language, reserving formal proofs for chapter appendixes. They conclude by presenting policy prescriptions based on what has been demonstrated theoretically and empirically.

    From financial planning to urban planning, Professor David Foot shows us how to track the trends that will have a profound impact upon our lives. The boomers, the busters, and the echo generation: discover the nation's future - and yours - in demographics, the simple but highly potent tool for understanding the past and foretelling the future, by Canada's foremost expert. What are the best investments? Where are the new business opportunities? What will become of our cities? What are the prospects for real estate? The job market? Education? Health care? Foot and Stoffman provide answers in a book full of arresting insights and practical ideas.

    Not only the 20th but even the 21st century seemed destined to be the American centuries. But that super-optimism did not last long. During the last decade of the 20th century and the first decade of the 21st century, the stock market bubble and the costly foreign unilateralism of the younger Bush presidency, as well as the financial catastrophe of 2008 jolted America – and much of the West – into a sudden recognition of its systemic vulnerability to unregulated greed. Moreover, the East was demonstrating a surprising capacity for economic growth and technological innovation. That prompted new anxiety about the future, including even about America’s status as the leading world power. This book is a response to a challenge. It argues that without an America that is economically vital, socially appealing, responsibly powerful, and capable of sustaining an intelligent foreign engagement, the geopolitical prospects for the West could become increasingly grave. The ongoing changes in the distribution of global power and mounting global strife make it all the more essential that America does not retreat into an ignorant garrison-state mentality or wallow in cultural hedonism but rather becomes more strategically deliberate and historically enlightened in its global engagement with the new East. This book seeks to answer four major questions:1. What are the implications of the changing distribution of global power from West to East, and how is it being affected by the new reality of a politically awakened humanity? 2. Why is America’s global appeal waning, how ominous are the symptoms of America’s domestic and international decline, and how did America waste the unique global opportunity offered by the peaceful end of the Cold War? 3. What would be the likely geopolitical consequences if America did decline by 2025, and could China then assume America’s central role in world affairs? 4. What ought to be a resurgent America’s major long-term geopolitical goals in order to shape a more vital and larger West and to engage cooperatively the emerging and dynamic new East?America, Brzezinski argues, must define and pursue a comprehensive and long-term a geopolitical vision, a vision that is responsive to the challenges of the changing historical context. This book seeks to provide the strategic blueprint for that vision.

    And in the process it provides the outsider with a riveting insight into life as a Member.