Book picks similar to
The Unbanking of America: How the New Middle Class Survives by Lisa Servon
non-fiction
nonfiction
economics
finance
Begin Again: James Baldwin's America and Its Urgent Lessons for Our Own
Eddie S. Glaude Jr. - 2020
Glaude Jr., in a moment when the struggles of Black Lives Matter and the attempt to achieve a new America have been challenged by the election of Donald Trump, a president whose victory represents yet another failure of America to face the lies it tells itself about race. From Charlottesville to the policies of child separation at the border, his administration turned its back on the promise of Obama's presidency and refused to embrace a vision of the country shorn of the insidious belief that white people matter more than others.We have been here before: For James Baldwin, these after times came in the wake of the civil rights movement, when a similar attempt to compel a national confrontation with the truth was answered with the murders of Medgar Evers, Malcolm X, and Martin Luther King, Jr. In these years, spanning from the publication of The Fire Next Time in 1963 to that of No Name in the Street in 1972, Baldwin transformed into a more overtly political writer, a change that came at great professional and personal cost. But from that journey, Baldwin emerged with a sense of renewed purpose about the necessity of pushing forward in the face of disillusionment and despair.In the story of Baldwin's crucible, Glaude suggests, we can find hope and guidance through our own after times, this Trumpian era of shattered promises and white retrenchment. Mixing biography--drawn partially from newly uncovered interviews--with history, memoir, and trenchant analysis of our current moment, Begin Again is Glaude's endeavor, following Baldwin, to bear witness to the difficult truth of race in America today. It is at once a searing exploration that lays bare the tangled web of race, trauma, and memory, and a powerful interrogation of what we all must ask of ourselves in order to call forth a new America.
Jesus and John Wayne: How White Evangelicals Corrupted a Faith and Fractured a Nation
Kristin Kobes Du Mez - 2020
Challenging the commonly held assumption that the “moral majority” backed Donald Trump for purely pragmatic reasons, Du Mez reveals that Donald Trump in fact represents the fulfillment, rather than the betrayal, of white evangelicals’ most deeply held values.Jesus and John Wayne is a sweeping account of the last seventy-five years of white evangelicalism, showing how American evangelicals have worked for decades to replace the Jesus of the Gospels with an idol of rugged masculinity and Christian nationalism, or in the words of one modern chaplain, with “a spiritual badass.” As Du Mez explains, the key to understanding this transformation is to recognize the role of culture in modern American evangelicalism. Many of today’s evangelicals may not be theologically astute, but they know their VeggieTales, they’ve read John Eldredge’s Wild at Heart, and they learned about purity before they learned about sex—and they have a silver ring to prove it. Evangelical books, films, music, clothing, and merchandise shape the beliefs of millions. And evangelical popular culture is teeming with muscular heroes—mythical warriors and rugged soldiers, men like Oliver North, Ronald Reagan, Mel Gibson, and the Duck Dynasty clan, who assert white masculine power in defense of “Christian America.” Chief among these evangelical legends is John Wayne, an icon of a lost time when men were uncowed by political correctness, unafraid to tell it like it was, and did what needed to be done.Trump, in other words, is hardly the first flashy celebrity to capture evangelicals’ hearts and minds, nor is he the first strongman to promise evangelicals protection and power. Indeed, the values and viewpoints at the heart of white evangelicalism today—patriarchy, authoritarian rule, aggressive foreign policy, fear of Islam, ambivalence toward #MeToo, and opposition to Black Lives Matter and the LGBTQ community—are likely to persist long after Trump leaves office.A much-needed reexamination, Jesus and John Wayne explains why evangelicals have rallied behind the least-Christian president in American history and how they have transformed their faith in the process, with enduring consequences for all of us.
The Courage to Act: A Memoir of a Crisis and Its Aftermath
Ben S. Bernanke - 2015
Bernanke was appointed chair of the Federal Reserve, the unexpected apex of a personal journey from small-town South Carolina to prestigious academic appointments and finally public service in Washington’s halls of power.There would be no time to celebrate.The bursting of a housing bubble in 2007 exposed the hidden vulnerabilities of the global financial system, bringing it to the brink of meltdown. From the implosion of the investment bank Bear Stearns to the unprecedented bailout of insurance giant AIG, efforts to arrest the financial contagion consumed Bernanke and his team at the Fed. Around the clock, they fought the crisis with every tool at their disposal to keep the United States and world economies afloat.Working with two U.S. presidents, and under fire from a fractious Congress and a public incensed by behavior on Wall Street, the Fed—alongside colleagues in the Treasury Department—successfully stabilized a teetering financial system. With creativity and decisiveness, they prevented an economic collapse of unimaginable scale and went on to craft the unorthodox programs that would help revive the U.S. economy and become the model for other countries.Rich with detail of the decision-making process in Washington and indelible portraits of the major players, The Courage to Act recounts and explains the worst financial crisis and economic slump in America since the Great Depression, providing an insider’s account of the policy response.
The Fire This Time: A New Generation Speaks About Race
Jesmyn WardEdwidge Danticat - 2016
Addressing his fifteen-year-old namesake on the one hundredth anniversary of the Emancipation Proclamation, Baldwin wrote: “You know and I know, that the country is celebrating one hundred years of freedom one hundred years too soon.”Award-winning author Jesmyn Ward knows that Baldwin’s words ring as true as ever today. In response, she has gathered short essays, memoir, and a few essential poems to engage the question of race in the United States. And she has turned to some of her generation’s most original thinkers and writers to give voice to their concerns.The Fire This Time is divided into three parts that shine a light on the darkest corners of our history, wrestle with our current predicament, and envision a better future. Of the eighteen pieces, ten were written specifically for this volume.In the fifty-odd years since Baldwin’s essay was published, entire generations have dared everything and made significant progress. But the idea that we are living in the post-Civil Rights era, that we are a “postracial” society, is an inaccurate and harmful reflection of a truth the country must confront. Baldwin’s “fire next time” is now upon us, and it needs to be talked about.
They Can't Kill Us All: Ferguson, Baltimore, and a New Era in America’s Racial Justice Movement
Wesley Lowery - 2016
By posing the question, "What does the loss of any one life mean to the rest of the nation?" Lowery examines the cumulative effect of decades of racially biased policing in segregated neighborhoods with failing schools, crumbling infrastructure and too few jobs.Studded with moments of joy, and tragedy, They Can't Kill Us All offers a historically informed look at the standoff between the police and those they are sworn to protect, showing that civil unrest is just one tool of resistance in the broader struggle for justice. As Lowery brings vividly to life, the protests against police killings are also about the black community's long history on the receiving end of perceived and actual acts of injustice and discrimination. They Can't Kill Us All grapples with a persistent if also largely unexamined aspect of the otherwise transformative presidency of Barack Obama: the failure to deliver tangible security and opportunity to those Americans most in need of both. They Can't Kill Us All is a galvanizing book that offers more than just behind-the-scenes coverage of the story of citizen resistance to police brutality. It will also explain where the movement came from, where it is headed and where it still has to go.
Bullshit Jobs: A Theory
David Graeber - 2018
After a million online views in seventeen different languages, people all over the world are still debating the answer.There are millions of people—HR consultants, communication coordinators, telemarketing researchers, corporate lawyers—whose jobs are useless, and, tragically, they know it. These people are caught in bullshit jobs.Graeber explores one of society’s most vexing and deeply felt concerns, indicting among other villains a particular strain of finance capitalism that betrays ideals shared by thinkers ranging from Keynes to Lincoln. Bullshit Jobs gives individuals, corporations, and societies permission to undergo a shift in values, placing creative and caring work at the center of our culture. This book is for everyone who wants to turn their vocation back into an avocation.
White Fragility: Why It’s So Hard for White People to Talk About Racism
Robin DiAngelo - 2018
These behaviors, in turn, function to reinstate white racial equilibrium and prevent any meaningful cross-racial dialogue. In this in-depth exploration, anti-racist educator Robin DiAngelo examines how white fragility develops, how it protects racial inequality, and what can be done to engage more constructively.
Methland: The Death and Life of an American Small Town
Nick Reding - 2009
Methland tells the story of Oelwein, Iowa (pop. 6,159), which, like thousands of other small towns across the country, has been left in the dust by the consolidation of the agricultural industry, a depressed local economy, and an out-migration of people. As if this weren t enough to deal with, an incredibly cheap, longlasting, and highly addictive drug has rolled into town.Over a period of four years, journalist Nick Reding brings us into the heart of Oelwein through a cast of intimately drawn characters, including: Clay Hallburg, the town doctor, who fights meth even as he struggles with his own alcoholism; Nathan Lein, the town prosecutor, whose caseload is filled almost exclusively with meth-related crime; and Jeff Rohrick, a meth addict, still trying to kick the habit after twenty years. Tracing the connections between the lives touched by the drug and the global forces that set the stage for the epidemic, Methland offers a vital and unique perspective on a pressing contemporary tragedy.
All the Devils are Here: The Hidden History of the Financial Crisis
Bethany McLean - 2010
Should the blame fall on Wall Street, Main Street, or Pennsylvania Avenue? On greedy traders, misguided regulators, sleazy subprime companies, cowardly legislators, or clueless home buyers?According to Bethany McLean and Joe Nocera, two of America's most acclaimed business journalists, the real answer is all of the above-and more. Many devils helped bring hell to the economy. And the full story, in all of its complexity and detail, is like the legend of the blind men and the elephant. Almost everyone has missed the big picture. Almost no one has put all the pieces together.All the Devils Are Here goes back several decades to weave the hidden history of the financial crisis in a way no previous book has done. It explores the motivations of everyone from famous CEOs, cabinet secretaries, and politicians to anonymous lenders, borrowers, analysts, and Wall Street traders. It delves into the powerful American mythology of homeownership. And it proves that the crisis ultimately wasn't about finance at all; it was about human nature.Among the devils you'll meet in vivid detail:• Angelo Mozilo, the CEO of Countrywide, who dreamed of spreading homeownership to the masses, only to succumb to the peer pressure-and the outsized profits-of the sleaziest subprime lending.• Roland Arnall, a respected philanthropist and diplomat, who made his fortune building Ameriquest, a subprime lending empire that relied on blatantly deceptive lending practices.• Hank Greenberg, who built AIG into a Rube Goldberg contraption with an undeserved triple-A rating, and who ran it so tightly that he was the only one who knew where all the bodies were buried.• Stan O'Neal of Merrill Lynch, aloof and suspicious, who suffered from "Goldman envy" and drove a proud old firm into the ground by promoting cronies and pushing out his smartest lieutenants.• Lloyd Blankfein, who helped turn Goldman Sachs from a culture that famously put clients first to one that made clients secondary to its own bottom line.• Franklin Raines of Fannie Mae, who (like his predecessors) bullied regulators into submission and let his firm drift away from its original, noble mission.• Brian Clarkson of Moody's, who aggressively pushed to increase his rating agency's market share and stock price, at the cost of its integrity.• Alan Greenspan, the legendary maestro of the Federal Reserve, who ignored the evidence of a growing housing bubble and turned a blind eye to the lending practices that ultimately brought down Wall Street-and inflicted enormous pain on the country.Just as McLean's The Smartest Guys in the Room was hailed as the best Enron book on a crowded shelf, so will All the Devils Are Here be remembered for finally making sense of the meltdown and its consequences.
The Purity Myth: How America's Obsession with Virginity is Hurting Young Women
Jessica Valenti - 2009
In The Purity Myth Jessica Valenti argues that the country’s intense focus on chastity is damaging to young women. Through in-depth cultural and social analysis, Valenti reveals that powerful messaging on both extremes — ranging from abstinence curriculum to Girls Gone Wild infomercials — place a young woman’s worth entirely on her sexuality. Morals are therefore linked purely to sexual behavior, rather than values like honesty, kindness, and altruism. Valenti sheds light on the value — and hypocrisy — around the notion that girls remain virgin until they’re married by putting into context the historical question of purity, modern abstinence-only education, pornography, and public punishments for those who dare to have sex. The Purity Myth presents a revolutionary argument that girls and women are overly valued for their sexuality, as well as solutions for a future without a damaging emphasis on virginity.
House of Cards: A Tale of Hubris and Wretched Excess on Wall Street
William D. Cohan - 2009
Bear Stearns was about to announce profits of $115 million for the first quarter of 2008, had $17.3 billion in cash on hand, and, as the company incessantly boasted, had been a colossally profitable enterprise in the eighty-five years since its founding.Ten days later, Bear Stearns no longer existed, and the calamitous financial meltdown of 2008 had begun.How this happened – and why – is the subject of William D. Cohan’s superb and shocking narrative that chronicles the fall of Bear Stearns and the end of the Second Gilded Age on Wall Street. Bear Stearns serves as the Rosetta Stone to explain how a combination of risky bets, corporate political infighting, lax government regulations and truly bad decision-making wrought havoc on the world financial system.Cohan’s minute-by-minute account of those ten days in March makes for breathless reading, as the bankers at Bear Stearns struggled to contain the cascading series of events that would doom the firm, and as Treasury Secretary Henry Paulson, New York Federal Reserve Bank President Tim Geithner, and Fed Chairman Ben Bernanke began to realize the dire consequences for the world economy should the company go bankrupt. But HOUSE OF CARDS does more than recount the incredible panic of the first stages of the financial meltdown. William D. Cohan beautifully demonstrates why the seemingly invincible Wall Street money machine came crashing down. He chronicles the swashbuckling corporate culture of Bear Stearns, the strangely crucial role competitive bridge played in the company’s fortunes, the brutal internecine battles for power, and the deadly combination of greed and inattention that helps to explain why the company’s leaders ignored the danger lurking in Bear’s huge positions in mortgage-backed securities.The author deftly portrays larger-than-life personalities like Ace Greenberg, Bear Stearns’ miserly, take-no-prisoners chairman whose memos about re-using paper clips were legendary throughout Wall Street; his profane, colorful rival and eventual heir Jimmy Cayne, whose world-champion-level bridge skills were a lever in his corporate rise and became a symbol of the reasons for the firm’s demise; and Jamie Dimon, the blunt-talking CEO of JPMorgan Chase, who won the astonishing endgame of the saga (the Bear Stearns headquarters alone were worth more than JP Morgan paid for the whole company). Cohan’s explanation of seemingly arcane subjects like credit default swaps and fixed- income securities is masterful and crystal clear, but it is the high-end dish and powerful narrative drive that makes HOUSE OF CARDS an irresistible read on a par with classics such as LIAR’S POKER and BARBARIANS AT THE GATE.Written with the novelistic verve and insider knowledge that made THE LAST TYCOONS a bestseller and a prize-winner, HOUSE OF CARDS is a chilling cautionary tale about greed, arrogance, and stupidity in the financial world, and the consequences for all of us.
Caste: The Origins of Our Discontents
Isabel Wilkerson - 2020
The hierarchy of caste is not about feelings or morality. It is about power—which groups have it and which do not.”In this brilliant book, Isabel Wilkerson gives us a masterful portrait of an unseen phenomenon in America as she explores, through an immersive, deeply researched narrative and stories about real people, how America today and throughout its history has been shaped by a hidden caste system, a rigid hierarchy of human rankings.Beyond race, class, or other factors, there is a powerful caste system that influences people’s lives and behavior and the nation’s fate. Linking the caste systems of America, India, and Nazi Germany, Wilkerson explores eight pillars that underlie caste systems across civilizations, including divine will, bloodlines, stigma, and more. Using riveting stories about people—including Martin Luther King, Jr., baseball’s Satchel Paige, a single father and his toddler son, Wilkerson herself, and many others—she shows the ways that the insidious undertow of caste is experienced every day. She documents how the Nazis studied the racial systems in America to plan their out-cast of the Jews; she discusses why the cruel logic of caste requires that there be a bottom rung for those in the middle to measure themselves against; she writes about the surprising health costs of caste, in depression and life expectancy, and the effects of this hierarchy on our culture and politics. Finally, she points forward to ways America can move beyond the artificial and destructive separations of human divisions, toward hope in our common humanity.
Makers and Takers: The Rise of Finance and the Fall of American Business
Rana Foroohar - 2016
Many of us know that our government failed to fix the banking system after the subprime mortgage crisis. But what few of us realize is how the misguided financial practices and philosophies that nearly toppled the global financial system have come to infiltrate ALL American businesses, putting us on a collision course for another cataclysmic meltdown. Drawing on in-depth reporting and exclusive interviews at the highest rungs of Wall Street and Washington, Time assistant managing editor and economic columnist Rana Foroohar shows how the “financialization of America” - the trend by which finance and its way of thinking have come to reign supreme - is perpetuating Wall Street's reign over Main Street, widening the gap between rich and poor, and threatening the future of the American Dream. Policy makers get caught up in the details of regulating “Too Big To Fail” banks, but the problems in our market system go much broader and deeper than that. Consider that: · Thanks to 40 years of policy changes and bad decisions, only about 15 % of all the money in our market system actually ends up in the real economy – the rest stays within the closed loop of finance itself. · The financial sector takes a quarter of all corporate profits in this country while creating only 4 % of American jobs. · The tax code continues to favor debt over equity, making it easier for companies to hoard cash overseas rather than reinvest it on our shores. · Our biggest and most profitable corporations are investing more money in stock buybacks than in research and innovation. · And, still, the majority of the financial regulations promised after the 2008 meltdown have yet come to pass, thanks to cozy relationship between our lawmakers and the country’s wealthiest financiers. Exploring these forces, which have have led American businesses to favor balancing-sheet engineering over the actual kind and the pursuit of short-term corporate profits over job creation, Foroohar shows how financialization has so gravely harmed our society, and why reversing this trend is of grave importance to us all. Through colorful stories of both "Takers” and "Makers,” she’ll reveal how we change the system for a better and more sustainable shared economic future.
Profit Over People: Neoliberalism and Global Order
Noam Chomsky - 1998
By examining the contradictions between the democratic and market principles proclaimed by those in power and those actually practiced, Chomsky critiques the tyranny of the few that restricts the public arena and enacts policies that vastly increase private wealth, often with complete disregard for social and ecological consequences. Combining detailed historical examples and uncompromising criticism, Chomsky offers a profound sense of hope that social activism can reclaim people's rights as citizens rather than as consumers, redefining democracy as a global movement, not a global market.
The Queen: The Forgotten Life Behind an American Myth
Josh Levin - 2019
The detective who checked it out soon discovered she was a welfare cheat who drove a Cadillac to collect ill-gotten government checks. And that was just the beginning: Taylor, it turned out, was also a kidnapper, and possibly a murderer. A desperately ill teacher, a combat-traumatized Marine, an elderly woman hungry for companionship; after Taylor came into their lives, all three ended up dead under suspicious circumstances. But nobody--not the journalists who touted her story, not the police, and not presidential candidate Ronald Reagan--seemed to care about anything but her welfare thievery.Growing up in the Jim Crow South, Taylor was made an outcast because of her color. As she rose to infamy, the press and politicians manipulated her image to demonize poor black women. Part social history, part true-crime investigation, Josh Levin's mesmerizing book, the product of six years of reporting and research, is a fascinating account of American racism and an expose of the "welfare queen" myth, one that fueled political debates that reverberate to this day. The Queen tells, for the first time, the fascinating story of what was done to Linda Taylor, what she did to others, and what was done in her name.