Yet Smith saw himself primarily as a philosopher rather than an economist and would never have predicted that the ideas for which he is now best known were his most important. This biography shows the extent to which Smith's great works, The Wealth of Nations and The Theory of Moral Sentiments, were part of one of the most ambitious projects of the Euruopean Enlightenment, a grand “Science of Man" that would encompass law, history, and aesthetics as well as economics and ethics, and which was only half complete on Smith’s death in 1790.Nick Phillipson reconstructs Smith’s intellectual ancestry and shows what Smith took from, and what he gave to, in the rapidly changing intellectual and commercial cultures of Glasgow and Edinburgh as they entered the great years of the Scottish Enlightenment. Above all he explains how far Smith’s ideas developed in dialogue with those of his closest friend, the other titan of the age, David Hume.

    One of Paine's greatest and most widely read works, considered a classic statement of faith in democracy and egalitarianism, defends the early events of the French Revolution, supports social security for workers, public employment for those in need of work, abolition of laws limiting wages, and other social reforms.

    This groundbreaking book reveals how today's global businesses can be both environmentally responsible and highly profitable.

    People are healthier, wealthier, and live longer. Yet the escapes from destitution by so many has left gaping inequalities between people and nations. In "The Great Escape," Angus Deaton--one of the foremost experts on economic development and on poverty--tells the remarkable story of how, beginning 250 years ago, some parts of the world experienced sustained progress, opening up gaps and setting the stage for today's disproportionately unequal world. Deaton takes an in-depth look at the historical and ongoing patterns behind the health and wealth of nations, and addresses what needs to be done to help those left behind.Deaton describes vast innovations and wrenching setbacks: the successes of antibiotics, pest control, vaccinations, and clean water on the one hand, and disastrous famines and the HIV/AIDS epidemic on the other. He examines the United States, a nation that has prospered but is today experiencing slower growth and increasing inequality. He also considers how economic growth in India and China has improved the lives of more than a billion people. Deaton argues that international aid has been ineffective and even harmful. He suggests alternative efforts--including reforming incentives to drug companies and lifting trade restrictions--that will allow the developing world to bring about its own Great Escape.Demonstrating how changes in health and living standards have transformed our lives, "The Great Escape" is a powerful guide to addressing the well-being of all nations.

    We have been through the biggest financial crisis since the Great Depression, unemployment remains stubbornly high, and talk of a double-dip recession persists. Americans are not pulling the world economy out of its sluggish state -- if anything we are looking to Asia to drive a recovery. Median wages have risen only slowly since the 1970s, and this multi-decade stagnation is not yet over. By contrast, the living standards of earlier generations would double every few decades. The Democratic Party seeks to expand government spending even when the middle class feels squeezed, the public sector doesn't always perform well, and we have no good plan for paying for forthcoming entitlement spending. To the extent Republicans have a consistent platform, it consists of unrealistic claims about how tax cuts will raise revenue and stimulate economic growth. The Republicans, when they hold power, are often a bigger fiscal disaster than the Democrats. How did we get into this mess? Imagine a tropical island where the citrus and bananas hang from the trees. Low-hanging literal fruit -- you don't even have to cook the stuff. In a figurative sense, the American economy has enjoyed lots of low-hanging fruit since at least the seventeenth century: free land; immigrant labor; and powerful new technologies. Yet during the last forty years, that low-hanging fruit started disappearing and we started pretending it was still there. We have failed to recognize that we are at a technological plateau and the trees are barer than we would like to think. That's it. That is what has gone wrong. The problem won't be solved overnight, but there are reasons to be optimistic. We simply have to recognize the underlying causes of our past prosperity-low hanging fruit-and how we will come upon more of it.

    A few years ago, renowned investor Ray Dalio began noticing a confluence of political and economic conditions he hadn’t encountered before in his fifty-year career. They included large debts and zero or near-zero interest rates in the world’s three major reserve currencies; significant wealth, political, and values divisions within countries; and emerging conflict between a rising world power (China) and the existing one (US). Seeking to explain the cause-effect relationships behind these conditions, he began a study of analogous historical times and discovered that such combinations of conditions were characteristic of periods of transition, such as the years between 1930 and 1945, in which wealth and power shifted in ways that reshaped the world order. Looking back across five hundred years of history and nine major empires—including the Dutch, the British, and the American—The Changing World Order puts into perspective the cycles and forces that have driven the successes and failures of all the world’s major countries throughout history. Dalio reveals the timeless and universal dynamics that were behind these shifts, while also offering practical principles for policymakers, business leaders, investors, and others operating in this environment.

    Every developed nation in the world at one time went through the transformation from predominantly informal, extralegal ownership to a formal, unified legal property system. In the West we've forgotten that creating this system is also what allowed people everywhere to leverage property into wealth. This persuasive book will revolutionize our understanding of capital and point the way to a major transformation of the world economy.

    As these divides deepen, we have lost the sense of ethical obligation to others that was crucial to the rise of post-war social democracy. So far these rifts have been answered only by the revivalist ideologies of populism and socialism, leading to the seismic upheavals of Trump, Brexit, and the return of the far-right in Germany. We have heard many critiques of capitalism but no one has laid out a realistic way to fix it, until now.In a passionate and polemical book, celebrated economist Paul Collier outlines brilliantly original and ethical ways of healing these rifts—economic, social and cultural—with the cool head of pragmatism, rather than the fervor of ideological revivalism. He reveals how he has personally lived across these three divides, moving from working-class Sheffield to hyper-competitive Oxford, and working between Britain and Africa, and acknowledges some of the failings of his profession.Drawing on his own solutions as well as ideas from some of the world’s most distinguished social scientists, he shows us how to save capitalism from itself—and free ourselves from the intellectual baggage of the twentieth century.

    This book is a blueprint for that organizing. In these pages, you will learn how monopolies and oligopolies have taken over almost every aspect of American life, and you will also learn about what can be done to stop that trend before it is too late." —From the foreword by Bernie Sanders.A passionate attack on the monopolies that are throttling American democracy.Every facet of American life is being overtaken by big platform monopolists like Facebook, Google, and Bayer (which has merged with the former agricultural giant Monsanto), resulting in a greater concentration of wealth and power than we've seen since the Gilded Age. They are evolving into political entities that often have more influence than the actual government, bending state and federal legislatures to their will and even creating arbitration courts that circumvent the US justice system. How can we recover our freedom from these giants? Anti-corruption scholar and activist Zephyr Teachout has the answer: Break 'Em Up.This book is a clarion call for liberals and leftists looking to find a common cause. Teachout makes a compelling case that monopolies are the root cause of many of the issues that today's progressives care about; they drive economic inequality, harm the planet, limit the political power of average citizens, and historically-disenfranchised groups bear the brunt of their shameful and irresponsible business practices. In order to build a better future, we must eradicate monopolies from the private sector and create new safeguards that prevent new ones from seizing power.Through her expert analysis of monopolies in several sectors and their impact on courts, journalism, inequality, and politics, Teachout offers a concrete path toward thwarting these enemies of working Americans and reclaiming our democracy before it’s too late.

    Left Communism is the theory and practice of worker control and self-organization whose adherents provided the main opposition to the Bolsheviks. Rarely printed, often cited, Pannekoek’s Workers’ Councils is the Das Kapital of Left Communism. This updated edition includes a substantial introduction from Noam Chomsky, illuminating the continuing relevance of this classic text."An urgent message to the future— are we listening?—from the most brilliant theoretician of libertarian com-munism."—Mike Davis, author of City of QuartzAnton Pannekoek was a Dutch worker, Socialist, and astronomer. He wrote Workers’ Councils amidst Nazi occupation of Holland.

    (Marginal cost is the cost of producing additional units of a good or service, if fixed costs are not counted.) While economists have always welcomed a reduction in marginal cost, they never anticipated the possibility of a technological revolution that might bring marginal costs to near zero, making goods and services priceless, nearly free, and abundant, and no longer subject to market forces.Now, a formidable new technology infrastructure—the Internet of things (IoT)—is emerging with the potential of pushing large segments of economic life to near zero marginal cost in the years ahead. Rifkin describes how the Communication Internet is converging with a nascent Energy Internet and Logistics Internet to create a new technology platform that connects everything and everyone. Billions of sensors are being attached to natural resources, production lines, the electricity grid, logistics networks, recycling flows, and implanted in homes, offices, stores, vehicles, and even human beings, feeding Big Data into an IoT global neural network. Prosumers can connect to the network and use Big Data, analytics, and algorithms to accelerate efficiency, dramatically increase productivity, and lower the marginal cost of producing and sharing a wide range of products and services to near zero, just like they now do with information goods.The plummeting of marginal costs is spawning a hybrid economy—part capitalist market and part Collaborative Commons—with far reaching implications for society, according to Rifkin. Hundreds of millions of people are already transferring parts of their economic lives to the global Collaborative Commons. Prosumers are plugging into the fledgling IoT and making and sharing their own information, entertainment, green energy, and 3D-printed products at near zero marginal cost. They are also sharing cars, homes, clothes and other items via social media sites, rentals, redistribution clubs, and cooperatives at low or near zero marginal cost. Students are enrolling in free massive open online courses (MOOCs) that operate at near zero marginal cost. Social entrepreneurs are even bypassing the banking establishment and using crowdfunding to finance startup businesses as well as creating alternative currencies in the fledgling sharing economy. In this new world, social capital is as important as financial capital, access trumps ownership, sustainability supersedes consumerism, cooperation ousts competition, and "exchange value" in the capitalist marketplace is increasingly replaced by "sharable value" on the Collaborative Commons.Rifkin concludes that capitalism will remain with us, albeit in an increasingly streamlined role, primarily as an aggregator of network services and solutions, allowing it to flourish as a powerful niche player in the coming era. We are, however, says Rifkin, entering a world beyond markets where we are learning how to live together in an increasingly interdependent global Collaborative Commons.

    Published posthumously in Germany in the early 1920's, it has become a constitutive part of the modern sociological imagination. Economy and Society was the first strictly empirical comparison of social structures and normative orders in world-historical depth, containing the famous chapters on social action, religion, law, bureaucracy, charisma, the city, and the political community with its dimensions of class, status and power.Economy and Status is Weber's only major treatise for an educated general public. It was meant to be a broad introduction, but in its own way it is the most demanding textbook yet written by a sociologist. The precision of its definitions, the complexity of its typologies and the wealth of its historical content make the work a continuos challenge at several levels of comprehension: for the advanced undergraduate who gropes for his sense of society, for the graduate student who must develop his own analytical skills, and for the scholar who must match wits with Weber.When the long-awaited first complete English edition of Economy and Society was published in 1968, Arthur Stinchcombe wrote in the American Journal of Sociology: "My answer to the question of whether people should still start their sociological intellectual biographies with Economy and Society is yes." Reinhard Bendix noted in the American Sociological Review that the "publication of a compete English edition of Weber's most systematic work [represents] the culmination of a cultural transmission to the American setting...It will be a study-guide and compendium for years to come for all those interested in historical sociology and comparative study."In a lengthy introduction, Guenther Roth traces the intellectual prehistory of Economy and Society, the gradual emergence of its dominant themes and the nature of its internal logic.Mr. Roth is a Professor of Sociology at Columbia University. Mr. Wittich heads an economic research group at the United Nations.

    When the original Debunking Economics was published in 2001, the market economy seemed invincible, and conventional "neoclassical" economic theory basked in the limelight. Steve Keen argued that economists deserved none of the credit for the economy's performance, and "The false confidence it has engendered in the stability of the market economy has encouraged policy-makers to dismantle some of the institutions which initially evolved to try to keep its instability within limits." That instability exploded with the devastating financial crisis of 2007, and now haunts the global economy with the prospect of another Depression. In this expanded and updated new edition, Keen builds on his scathing critique of conventional economic theory while explaining what mainstream economists cannot: why the crisis occurred, why it is proving to be intractable, and what needs to be done to end it. Essential for anyone who has ever doubted the advice or reasoning of economists, Debunking Economics (Revised and Expanded Edition) provides a signpost to a better future.

    But according to Robert W. McChesney, arguments on both sides fail to address the relationship between economic power and the Internet.McChesney’s award-winning Rich Media, Poor Democracy skewered the assumption that a society drenched in commercial information is a democratic one. In Digital Disconnect, McChesney returns to this provocative thesis in light of the advances of the digital age. He argues that the sharp decline in the enforcement of antitrust violations, the increase in patents on digital technology and proprietary systems and massive indirect subsidies and other policies have made the internet a place of numbing commercialism. A handful of monopolies now dominate the political economy, from Google, which garners a 97 percent share of the mobile search market, to Microsoft, whose operating system is used by over 90 percent of the world’s computers. Capitalism’s colonization of the Internet has spurred the collapse of credible journalism and made the internet an unparalleled apparatus for government and corporate surveillance and a disturbingly antidemocratic force.In Digital Disconnect, Robert McChesney offers a groundbreaking critique of the Internet, urging us to reclaim the democratizing potential of the digital revolution while we still can.

    In this essay based on a popular lecture, Foundation for Economic Education President Lawrence W. Reed debunks this conventional view and traces the central role that poor government policy played in fostering this legendary catastrophe. Lawrence W. ("Larry") Reed became president of the Foundation for Economic Education (FEE) in 2008. Prior to becoming FEE's president, he served for twenty years as president of the Mackinac Center for Public Policy in Midland, Michigan. He also taught economics full-time from 1977 to 1984 at Northwood University in Michigan and chaired its Department of Economics from 1982 to 1984. A champion for liberty, Reed has authored over 1,000 newspaper columns and articles, dozens of articles in magazines and journals in the United States and abroad. The Foundation for Economic Education (FEE) is the premier source for understanding the humane values of a free society, and the economic, legal, and ethical principles that make it possible. At FEE, you’ll be connected with people worldwide who share those values and are inspired by the dynamic ideas of free association, free markets, and a diverse civil society. Explore freedom’s limitless possibilities through seminars, classroom resources, social media, and daily content at FEE.org. Learn how your creativity and initiative can result in a prosperous and flourishing life for yourself and the global community. Whether you are just beginning to explore entrepreneurship, economics, or creating value for others or are mentoring others on their journeys, FEE has everything you need. FEE is supported by voluntary, tax-deductible contributions from individuals, foundations, and businesses who believe that it is vital to cultivate a deep appreciation in every generation for individual liberty, personal character, and a free economy. Supporters  receive a subscription to FEE's flagship magazine, the Freeman, also available at FEE.org.