Embers of War: The Fall of an Empire and the Making of America's Vietnam


Fredrik Logevall - 2012
    Fought over a period of three decades, the conflict drew in all the world’s powers and saw two of them—first France, then the United States—attempt to subdue the revolutionary Vietnamese forces. For France, the defeat marked the effective end of her colonial empire, while for America the war left a gaping wound in the body politic that remains open to this day.   How did it happen? Tapping into newly accessible diplomatic archives in several nations and making full use of the published literature, distinguished scholar Fredrik Logevall traces the path that led two Western nations to lose their way in Vietnam. Embers of War opens in 1919 at the Versailles Peace Conference, where a young Ho Chi Minh delivers a petition for Vietnamese independence to President Woodrow Wilson. It concludes in 1959, with a Viet Cong ambush on a U.S. outpost outside Saigon and the deaths of two American officers whose names would be the first to be carved into the black granite of the Vietnam Veterans Memorial. In between come years of political, military, and diplomatic maneuvering and miscalculation, as leaders on all sides embark on a series of stumbles that makes an eminently avoidable struggle a bloody and interminable reality.   Logevall takes us inside the councils of war—and gives us a seat at the conference tables where peace talks founder. He brings to life the bloodiest battles of France’s final years in Indochina—and shows how from an early point, a succession of American leaders made disastrous policy choices that put America on its own collision course with history: Harry Truman’s fateful decision to reverse Franklin Delano Roosevelt’s policy and acknowledge France’s right to return to Indochina after World War II; Dwight Eisenhower’s strenuous efforts to keep Paris in the fight and his escalation of U.S. involvement in the aftermath of the humiliating French defeat at Dien Bien Phu; and the curious turnaround in Senator John F. Kennedy’s thinking that would lead him as president to expand that commitment, despite his publicly stated misgivings about Western intervention in Southeast Asia.   An epic story of wasted opportunities and tragic miscalculations, featuring an extraordinary cast of larger-than-life characters, Embers of War delves deep into the historical record to provide hard answers to the unanswered questions surrounding the demise of one Western power in Vietnam and the arrival of another. This book will become the definitive chronicle of the struggle’s origins for years to come.Advance praise for Embers of War   “Fredrik Logevall has gleaned from American, French, and Vietnamese sources a splendid account of France’s nine-year war in Indochina and the story of how the American statesmen of the period allowed this country to be drawn into the quagmire.”—Neil Sheehan, author of A Bright Shining Lie, winner of the Pulitzer Prize and the National Book Award   “Fredrik Logevall is a wonderful writer and historian. In his new book on the origins of the American war in Vietnam, he gives a fascinating and dramatic account of the French war and its aftermath, from the perspectives of the French, the Vietnamese, and the Americans. Using previously untapped sources and a deep knowledge of diplomatic history, Logevall shows to devastating effect how America found itself on the road to Vietnam.”—Frances FitzGerald, author of Fire in the Lake, winner of the Pulitzer Prize and the National Book Award

From the Shadows: The Ultimate Insider's Story of Five Presidents and How They Won the Cold War


Robert M. Gates - 1996
    Drawing on his access to classified information and top-level involvement in policy decisions, Gates lays bare the hidden wars and operations the United States waged against communism worldwide. Ever certain that the fifty-year struggle with the Soviet Union was indeed a war, Gates makes candid appraisals of Presidents, key officials, and policies of the period. Among his disclosures are: how Carter laid the foundations for Reagan's covert wars against the Soviets; CIA predictions of a conservative coup against Gorbachev and the collapse of the Soviet Union; CIA and KGB "black operations" against each other; the secret relationship between Pope John Paul II and the Soviets; and three secret CIA-KGB summits. From the Shadows is a classic memoir on the career of a CIA officer at the center of power during a time when the threat of global annihilation informed America's every move.

The Most Noble Adventure: The Marshall Plan and the Time When America Helped Save Europe


Greg Behrman - 2007
    With nuanced, vivid prose, Behrman recreates the story of a unique American enterprise that was at once strategic, altruistic and stunningly effective, and of a time when America stood as a beacon of generosity and moral leadership.When World War II ended in Europe, the continent lay in tatters. Tens of millions of people had been killed. Ancient cities had been demolished. The economic, financial and commercial foundations of Europe were in shambles. Western Europe's Communist parties -- feeding off people's want and despair -- were flourishing as, to the east, Stalin's Soviet Union emerged as the sole superpower on the continent.The Marshall Plan was a four-year, $13 billion (more than $100 billion in today's dollars) plan to provide assistance for Europe's economic recovery. More than an aid program, it sought to modernize Western Europe's economies and launch them on a path to prosperity and integration; to restore Western Europe's faith in democracy and capitalism; to enmesh the region firmly in a Western economic association and eventually a military alliance. It was the linchpin of America's strategy to meet the Soviet threat. It helped to trigger the Cold War and, eventually, to win it.Through detailed and exhaustive research, Behrman brings this vital and dramatic epoch to life and animates the personalities that shaped it. The narrative follows the six extraordinary American statesmen -- George Marshall, Will Clayton, Arthur Vandenberg, Richard Bissell, Paul Hoffman and W. Averell Harriman -- who devised and implemented the Plan, as well as some of the century's most important personalities -- Winston Churchill, Josef Stalin, Joseph McCarthy -- who are also central players in the drama told here.More than a humanitarian endeavor, the Marshall Plan was one of the most effective foreign policies in all of American history, in large part because, as Behrman writes, it was born and executed in a time when American "foreign policy was defined by its national interests and the very best of ideals."

13 Bankers: The Wall Street Takeover and the Next Financial Meltdown


Simon Johnson - 2010
    Anchored by six megabanks—Bank of America, JPMorgan Chase, Citigroup, Wells Fargo, Goldman Sachs, and Morgan Stanley—which together control assets amounting, astonishingly, to more than 60 percent of the country’s gross domestic product, these financial institutions (now more emphatically “too big to fail”) continue to hold the global economy hostage, threatening yet another financial meltdown with their excessive risk-taking and toxic “business as usual” practices. How did this come to be—and what is to be done? These are the central concerns of 13 Bankers, a brilliant, historically informed account of our troubled political economy. In 13 Bankers, Simon Johnson—one of the most prominent and frequently cited economists in America (former chief economist of the International Monetary Fund, Professor of Entrepreneurship at MIT, and author of the controversial “The Quiet Coup” in The Atlantic)—and James Kwak give a wide-ranging, meticulous, and bracing account of recent U.S. financial history within the context of previous showdowns between American democracy and Big Finance: from Thomas Jefferson to Andrew Jackson, from Theodore Roosevelt to Franklin Delano Roosevelt. They convincingly show why our future is imperiled by the ideology of finance (finance is good, unregulated finance is better, unfettered finance run amok is best) and by Wall Street’s political control of government policy pertaining to it. As the authors insist, the choice that America faces is stark: whether Washington will accede to the vested interests of an unbridled financial sector that runs up profits in good years and dumps its losses on taxpayers in lean years, or reform through stringent regulation the banking system as first and foremost an engine of economic growth. To restore health and balance to our economy, Johnson and Kwak make a radical yet feasible and focused proposal: reconfigure the megabanks to be “small enough to fail.” Lucid, authoritative, crucial for its timeliness, 13 Bankers is certain to be one of the most discussed and debated books of 2010.

Gambling with Other People’s Money: How Perverse Incentives Caused the Financial Crisis


Russ Roberts - 2019
    Russ Roberts argues that the true underlying cause of the mess was the past bailouts of large financial institutions that allowed these institutions to gamble carelessly because they were effectively using other people’s money. The author warns that despite the passage of Dodd-Frank, it is widely believed that we have done nothing to eliminate ‘Too Big to Fail.’ That perception allows the largest financial institutions to continue to gamble with taxpayer money.

Devil Take the Hindmost: A History of Financial Speculation


Edward Chancellor - 1996
    A lively, original, and challenging history of stock market speculation from the 17th century to present day.Is your investment in that new Internet stock a sign of stock market savvy or an act of peculiarly American speculative folly? How has the psychology of investing changed--and not changed--over the last five hundred years? In Devil Take the Hindmost, Edward Chancellor traces the origins of the speculative spirit back to ancient Rome and chronicles its revival in the modern world: from the tulip scandal of 1630s Holland, to "stockjobbing" in London's Exchange Alley, to the infamous South Sea Bubble of 1720, which prompted Sir Isaac Newton to comment, "I can calculate the motion of heavenly bodies, but not the madness of people."Here are brokers underwriting risks that included highway robbery and the "assurance of female chastity"; credit notes and lottery tickets circulating as money; wise and unwise investors from Alexander Pope and Benjamin Disraeli to Ivan Boesky and Hillary Rodham Clinton.From the Gilded Age to the Roaring Twenties, from the nineteenth century railway mania to the crash of 1929, from junk bonds and the Japanese bubble economy to the day-traders of the Information Era, Devil Take the Hindmost tells a fascinating story of human dreams and folly through the ages.

War is a Racket


Smedley D. Butler - 1935
    Butler was a military hero of the first rank, the winner of two Medals of Honour, a true 'fighting marine' whose courage and patriotism could not be doubted. Yet he came to believe that the wars in which he and his men had fought and bled and died were all pre-planned conflicts, designed not so much to defend America as to bloat the balance sheets of US banks and corporations.War Is a Racket is the title of two works, a speech and a booklet, by retired United States Marine Corps Major General and two time Medal of Honor recipient Smedley D. Butler. In them, Butler frankly discusses from his experience as a career military officer how business interests commercially benefit from warfare.After his retirement from the Marine Corps, Gen. Butler made a nationwide tour in the early 1930s giving his speech "War is a Racket". The speech was so well received that he wrote a longer version as a small book with the same title that was published in 1935 by Round Table Press, Inc., of New York. The booklet was also condensed in Reader's Digest as a book supplement which helped popularize his message. In an introduction to the Reader's Digest version, Lowell Thomas, the "as told to" author of Butler's oral autobiographical adventures, praised Butler's "moral as well as physical courage".

The Dead Hand: The Untold Story of the Cold War Arms Race and its Dangerous Legacy


David E. Hoffman - 2009
    In the last half of the twentieth century the two superpowers had perfected the science of mass destruction and possessed nuclear weapons with the combined power of a million Hiroshimas. What’s more, a Soviet biological warfare machine was ready to produce bacteria and viruses to sicken and kill millions. In The Dead Hand, a thrilling narrative history drawing on new archives and original research and interviews, David E. Hoffman reveals how presidents, scientists, diplomats, soldiers, and spies confronted the danger and changed the course of history. The Dead Hand captures the inside story in both the United States and the Soviet Union, giving us an urgent and intimate account of the last decade of the arms race. With access to secret Kremlin documents, Hoffman chronicles Soviet internal deliberations that have long been hidden. He reveals that weapons designers in 1985 laid a massive “Star Wars” program on the desk of Soviet leader Mikhail Gorbachev to compete with President Reagan, but Gorbachev refused to build it. He unmasks the cover-up of the Soviet biological weapons program. He tells the exclusive story of one Soviet microbiologist’s quest to build a genetically engineered super-germ—it would cause a mild illness, a deceptive recovery, then a second, fatal attack. And he details the frightening history of the Doomsday Machine, known as the Dead Hand, which would launch a retaliatory nuclear strike if the Soviet leaders were wiped out. When the Soviet Union collapsed, the dangers remained. Soon rickety trains were hauling unsecured nuclear warheads across the Russian steppe; tons of highly-enriched uranium and plutonium lay unguarded in warehouses; and microbiologists and bomb designers were scavenging for food to feed their families. The Dead Hand offers fresh and startling insights into Reagan and Gorbachev, the two key figures of the end of the Cold War, and draws colorful, unforgettable portraits of many others who struggled, often valiantly, to save the world from the most terrifying weapons known to man.

Goliath: The 100-Year War Between Monopoly Power and Democracy


Matt Stoller - 2019
    A concentration of power, whether in the hands of a military dictator or a JP Morgan, was understood as autocratic and dangerous to individual liberty and democracy. This idea stretched back to the country’s founding. In the 1930s, people observed that the Great Depression was caused by financial concentration in the hands of a few whose misuse of their power induced a financial collapse. They drew on this tradition to craft the New Deal. In Goliath, Matt Stoller explains how authoritarianism and populism have returned to American politics for the first time in eighty years, as the outcome of the 2016 election shook our faith in democratic institutions. It has brought to the fore dangerous forces that many modern Americans never even knew existed. Today’s bitter recriminations and panic represent more than just fear of the future, they reflect a basic confusion about what is happening and the historical backstory that brought us to this moment. The true effects of populism, a shrinking middle class, and concentrated financial wealth are only just beginning to manifest themselves under the current administrations. The lessons of Stoller’s study will only grow more relevant as time passes. Building upon his viral article in The Atlantic, “How the Democrats Killed Their Populist Soul,” Stoller illustrates in rich detail how we arrived at this tenuous moment, and the steps we must take to create a new democracy.

Gods of Money: Wall Street and the Death of the American Century


F. William Engdahl - 2010
    It details the intimate synergies between American military power and the financial means of Wall Street and Washington to create the most extensive global empire since the fall of the British Empire a century ago. It traces the rise of America from the 1800s to the hegemonic global superpower on the ashes of the British Empire by the end of the Second World War.Here's some of what you will learn:+ How a cabal of international Wall Street bankers in violation of the US Constitution made a coup d'etat in 1913 to create the private Federal Reserve to finance World War I and the rise of what they would later call the American Century. + How the Rockefeller family emerged during the Great Depression as the most influential family shaping America's destiny into and after World War II. + The real agenda of the American Century triumphantly proclaimed in 1941. + The real relation between America's military industrial complex and Bretton Woods Dollar System + How Wall Street banks systematically lifted all restraints on their expansion that ended in the 2007 Sub-prime meltdown and 2008 global financial crisis.The dollar financial system of Wall Street was born not at a conference in Bretton Woods New Hampshire in 1944. It was born in the first days of August, 1945 with the dropping of the atomic bomb on Hiroshima and Nagasaki. After that point the world was in no doubt who was the power to reckon with. This book is no ordinary book about money and finance. Rather it traces the history of money as an instrument of power; it traces the evolution of that power in the hands of a tiny elite that regards themselves as, quite literally, gods-The Gods of Money. How these gods abused their power and how they systematically set out to control the entire world is the subject.

Hard Times: An Oral History of the Great Depression


Studs Terkel - 1970
    Featuring a mosaic of memories from politicians, businessmen, artists, and writers, from those who were just kids to those who remember losing a fortune, Hard Times is not only a gold mine of information but a fascinating interplay of memory and fact, revealing how the Depression affected the lives of those who experienced it firsthand.

The Economic Consequences of the Peace


John Maynard Keynes - 1919
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The Economists' Hour: False Prophets, Free Markets, and the Fracture of Society


Binyamin Appelbaum - 2019
    In the four decades between 1969 and 2008, these economists played a leading role in reshaping taxation and public spending and clearing the way for globalization. They reshaped the government's approach to regulation, assigning a value to human life to determine which rules are worthwhile. Economists even convinced President Nixon to end military conscription.The United States was the epicenter of the intellectual ferment, but the embrace of markets was a global phenomenon, seizing the imagination of politicians in countries including the United Kingdom, Chile and New Zealand.This book is also a reckoning. The revolution failed to deliver on its central promise of increased prosperity. In the United States, growth has slowed in every successive decade since the 1960s. And the cost of the failure was steep. Policymakers traded well-paid jobs for low-cost electronics; the loss of work weakened the fabric of society and of democracy. Soaring inequality extends far beyond incomes: Life expectancy for less affluent Americans has declined in recent years. And the focus on efficiency has come at the expense of the future: Lower taxes instead of education and infrastructure; limited environmental regulation as oceans rise and California burns.

The City-State of Boston: The Rise and Fall of an Atlantic Power, 1630-1865


Mark Peterson - 2019
    Wresting this iconic urban center from these misleading, tired clich�s, The City-State of Boston highlights Boston's overlooked past as an autonomous city-state, and in doing so, offers a pathbreaking and brilliant new history of early America. Following Boston's development over three centuries, Mark Peterson discusses how this self-governing Atlantic trading center began as a refuge from Britain's Stuart monarchs and how--through its bargain with slavery and ratification of the Constitution--it would tragically lose integrity and autonomy as it became incorporated into the greater United States.Drawing from vast archives, and featuring unfamiliar figures alongside well-known ones, such as John Winthrop, Cotton Mather, and John Adams, Peterson explores Boston's origins in sixteenth-century utopian ideals, its founding and expansion into the hinterland of New England, and the growth of its distinctive political economy, with ties to the West Indies and southern Europe. By the 1700s, Boston was at full strength, with wide Atlantic trading circuits and cultural ties, both within and beyond Britain's empire. After the cataclysmic Revolutionary War, "Bostoners" aimed to negotiate a relationship with the American confederation, but through the next century, the new United States unraveled Boston's regional reign. The fateful decision to ratify the Constitution undercut its power, as Southern planters and slave owners dominated national politics and corroded the city-state's vision of a common good for all.Peeling away the layers of myth surrounding a revered city, The City-State of Boston offers a startlingly fresh understanding of America's history.

Hall of Mirrors: The Great Depression, the Great Recession, and the Uses - and Misuses - of History


Barry Eichengreen - 2014
    Both occurred against the backdrop of sharp credit booms, dubious banking practices, and a fragile and unstable global financial system. When markets went into cardiac arrest in 2008, policymakers invoked the lessons of the Great Depression in attempting to avert the worst. While their response prevented a financial collapse and catastrophic depression like that of the 1930s, unemployment in the U.S. and Europe still rose to excruciating high levels. Pain and suffering were widespread.The question, given this, is why didn't policymakers do better? Hall of Mirrors, Barry Eichengreen's monumental twinned history of the two crises, provides the farthest-reaching answer to this question to date. Alternating back and forth between the two crises and between North America and Europe, Eichengreen shows how fear of another Depression following the collapse of Lehman Brothers shaped policy responses on both continents, with both positive and negative results. Since bank failures were a prominent feature of the Great Depression, policymakers moved quickly to strengthen troubled banks. But because derivatives markets were not important in the 1930s, they missed problems in the so-called shadow banking system. Having done too little to support spending in the 1930s, governments also ramped up public spending this time around. But the response was indiscriminate and quickly came back to haunt overly indebted governments, particularly in Southern Europe. Moreover, because politicians overpromised, and because their measures failed to stave off a major recession, a backlash quickly developed against activist governments and central banks. Policymakers then prematurely succumbed to the temptation to return to normal policies before normal conditions had returned. The result has been a grindingly slow recovery in the United States and endless recession in Europe.Hall of Mirrors is both a major work of economic history and an essential exploration of how we avoided making only some of the same mistakes twice. It shows not just how the lessons of Great Depression history continue to shape society's response to contemporary economic problems, but also how the experience of the Great Recession will permanently change how we think about the Great Depression.