In behind-the-scenes detail, he shows the extreme degree to which government officials bent over backward to serve the interests of Wall Street firms at the expense of the public—& at the expense of effective financial reform. During the height of the financial crisis in 2008, Barofsky gave up his job as a prosecutor in the US Attorney’s Office in NYC, where he'd convicted drug kingpins, Wall Street executives & mortgage fraud perpetrators, to become the special inspector general in charge of oversight of bailout money spending. From the first his efforts to protect against fraud & to hold big banks accountable for how they spent taxpayer money were met with outright hostility from Treasury officials in charge of the bailouts.Barofsky discloses how, in serving banking interests, Treasury Secretary Timothy Geithner & his team worked with Wall Street executives to design programs to would funnel vast amounts of taxpayer money to their firms & would have allowed them to game the markets & make huge profits with almost no risk or accountability, while repeatedly fighting efforts to put the necessary fraud protections in place. His investigations also uncovered abject mismanagement of the bailout of insurance giant AIG & Geithner’s decision to allow the payment of millions of dollars in bonuses & that the Obama administration’s TARP Czar lobbied for the executives to retain their high pay.Providing details about how, meanwhile, the interests of homeowners & the broader public were betrayed, Barofsky recounts how Geithner & his team steadfastly failed to fix glaring flaws in the Obama administration’s homeowner relief program pointed out by bailout watchdogs, rejecting anti-fraud measures, which unleashed a wave of abuses by mortgage providers against homeowners, even causing some who wouldn't have lost their homes otherwise to go into foreclosure. Ultimately only a small fraction ($1.4 billion when he stepped down) of the $50 billion allocated to help homeowners was spent, while the funds expended to prop up the financial system totaled $4.7 trillion. As he raised the alarm about the bailout failures, he met with obstruction. He recounts in blow-by-blow detail how an increasingly aggressive war was waged against his efforts, with even the White House launching a broadside against him. Bailout is a riveting account of his plunge into the political meat grinder of Washington, as well as a vital revelation of just how captured by Wall Street the political system is & why the too-big-to-fail banks have only become bigger & more dangerous in the wake of the crisis.

    Congress tried, and failed, to restore the American economy and set it on a course to fiscal stability. Woodward pierces the secretive world of Washington policymaking once again, with a close-up story crafted from meeting notes, documents, working papers, and interviews with key players, including President Obama and House Speaker John Boehner. Woodward lays bare the broken relationship between President Obama and the Congress.In a new afterword, What Is Really Happening in Washington’s Economic Wars, Woodward details the further negotiations after Obama’s reelection, when he and Congress faced the fiscal cliff only to end in a perilous stalemate.

    But the heart of the matter is that, as the crisis unfolds, the basic rules of European democracy are being subverted or turned into their opposite, bypassing parliaments, governments and EU institutions. Multilateralism is turning into unilateralism, equality into hegemony, sovereignty into the dependency and recognition into disrespect for the dignity of other nations. Even France, which long dominated European integration, must submit to Berlin's strictures now that it must fear for its international credit rating.How did this happen? The anticipation of the European catastrophe has already fundamentally changed the European landscape of power. It is giving birth to a political monster: a German Europe. Germany did not seek this leadership position - rather, it is a perfect illustration of the law of unintended consequences. The invention and implementation of the euro was the price demanded by France in order to pin Germany down to a European Monetary Union in the context of German unification. It was a quid pro quo for binding a united Germany into a more integrated Europe in which France would continue to play the leading role. But the precise opposite has happened. Economically the euro turned out to be very good for Germany, and with the euro crisis Chancellor Angela Merkel became the informal Queen of Europe.The new grammar of power reflects the difference between creditor and debtor countries; it is not a military but an economic logic. Its ideological foundation is 'German euro nationalism' - that is, an extended European version of the Deutschmark nationalism that underpinned German identity after the Second World War. In this way the German model of stability is being surreptitiously elevated into the guiding idea for Europe. The Europe we have now will not be able to survive in the risk-laden storms of the globalized world. The EU has to be more than a grim marriage sustained by the fear of the chaos that would be caused by its breakdown. It has to be built on something more positive: a vision of rebuilding Europe bottom-up, creating a Europe of the citizen. There is no better way to reinvigorate Europe than through the coming together of ordinary Europeans acting on their own behalf.

    What effects has this “capitalist realism” had on work, culture, education and mental health? Is it possible to imagine an alternative to capitalism that is not some throwback to discredited models of state control?

    In Adios, America she touches the third rail in American politics, attacking the immigration issue head-on and flying in the face of La Raza, the Democrats, a media determined to cover up immigrants' crimes, churches that get paid by the government for their "charity," and greedy Republican businessmen and campaign consultants—all of whom are profiting handsomely from mass immigration that’s tearing the country apart. Applying her trademark biting humor to the disaster that is U.S. immigration policy, Coulter proves that immigration is the most important issue facing America today.

    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.

    Policies governing everything from trade and investment to energy and exchange rates are wielded as tools to win diplomatic allies, punish adversaries, and coerce those in between. Not so in the United States, however. America still too often reaches for the gun over the purse to advance its interests abroad. The result is a playing field sharply tilting against the United States.In a cogent analysis of why the United States is losing ground as a world power and what it can do to reverse the trend, War by Other Means describes the statecraft of geoeconomics: the use of economic instruments to achieve geopolitical goals. Geoeconomics has long been a lever of America’s foreign policy. But factors ranging from U.S. bureaucratic politics to theories separating economics from foreign policy leave America ill prepared for this new era of geoeconomic contest, while rising powers, especially China, are adapting rapidly. The rules-based system Americans set in place after World War II benefited the United States for decades, but now, as the system frays and global competitors take advantage, America is uniquely self-constrained. Its geoeconomic policies are hampered by neglect and resistance, leaving the United States overly reliant on traditional military force.Drawing on immense scholarship and government experience, Robert Blackwill and Jennifer Harris show that if America’s policies are left uncorrected, the price in American blood and treasure will only grow. What geoeconomic warfare requires is a new vision of U.S. statecraft.

    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.

    Companies are shutting down and laying off workers, 401ks are melting away, and the government is spending $700 billion dollars to bail out banks and financial institutions -- and that's only the beginning. The financial services industry, and the many industries that depend on it -- from housing to cars -- is in intensive care. So what happened? How did we get to this point of financial disaster? Is the economy just a huge, Madoff-esque Ponzi scheme? It is a complicated and confusing story -- but Daniel Gross of Newsweek has a special gift for making complicated matters easy to understand and even entertaining. In Dumb Money, he offers a guide to the debacle and to what the future may hold. This is not so much a book about who did what, though that's part of the story. Rather, it pieces together the building blocks of the debt-fueled economy, and distills the theory and personalities behind our late, lamented easy money culture. Dumb Money is a book that finally lays it all out in an engaging way, and might just help people invest their money smartly until the gloom passes.

    An unprecedented redistribution of jobs, population, and wealth is under way in America, and it is likely to accelerate in the years to come. America’s new economic map shows growing differences, not just between people but especially between communities. In this important and persuasive book, U.C. Berkeley economist Enrico Moretti provides a fresh perspective on the tectonic shifts that are reshaping America’s labor market—from globalization and income inequality to immigration and technological progress—and how these shifts are affecting our communities. Drawing on a wealth of stimulating new studies, Moretti uncovers what smart policies may be appropriate to address the social challenges that are arising. We’re used to thinking of the United States in dichotomous terms: red versus blue, black versus white, haves versus have-nots. But today there are three Americas. At one extreme are the brain hubs—cities like San Francisco, Boston, Austin, and Durham—with a well-educated labor force and a strong innovation sector. Their workers are among the most productive, creative, and best paid on the planet. At the other extreme are cities once dominated by traditional manufacturing, which are declining rapidly, losing jobs and residents. In the middle are a number of cities that could go either way. For the past thirty years, the three Americas have been growing apart at an accelerating rate. This divergence is one the most important recent developments in the United States and is causing growing geographic disparities is all other aspects of our lives, from health and longevity to family stability and political engagement. But the winners and losers aren’t necessarily who you’d expect. Moretti’s groundbreaking research shows that you don’t have to be a scientist or an engineer to thrive in one of these brain hubs. Among the beneficiaries are the workers who support the "idea-creators"—the carpenters, hair stylists, personal trainers, lawyers, doctors, teachers and the like. In fact, Moretti has shown that for every new innovation job in a city, five additional non-innovation jobs are created, and those workers earn higher salaries than their counterparts in other cities. It wasn’t supposed to be this way. As the global economy shifted from manufacturing to innovation, geography was supposed to matter less. But the pundits were wrong. A new map is being drawn—the inevitable result of deep-seated but rarely discussed economic forces. These trends are reshaping the very fabric of our society. Dealing with this split—supporting growth in the hubs while arresting the decline elsewhere—will be the challenge of the century, and　The New Geography of Jobs　lights the way.

    The name of the remote New Hampshire town where representatives of forty-four nations gathered in July 1944, in the midst of the century's second great war, has become shorthand for enlightened globalization. The actual story surrounding the historic Bretton Woods accords, however, is full of startling drama, intrigue, and rivalry, which are vividly brought to life in Benn Steil's epic account.Upending the conventional wisdom that Bretton Woods was the product of an amiable Anglo-American collaboration, Steil shows that it was in reality part of a much more ambitious geopolitical agenda hatched within President Franklin D. Roosevelt's Treasury and aimed at eliminating Britain as an economic and political rival. At the heart of the drama were the antipodal characters of John Maynard Keynes, the renowned and revolutionary British economist, and Harry Dexter White, the dogged, self-made American technocrat. Bringing to bear new and striking archival evidence, Steil offers the most compelling portrait yet of the complex and controversial figure of White--the architect of the dollar's privileged place in the Bretton Woods monetary system, who also, very privately, admired Soviet economic planning and engaged in clandestine communications with Soviet intelligence officials and agents over many years.A remarkably deft work of storytelling that reveals how the blueprint for the postwar economic order was actually drawn, The Battle of Bretton Woods is destined to become a classic of economic and political history.

    Revisionist in nature, it reaches the conclusion that monarchy is a lesser evil than democracy, but outlines deficiencies in both. Its methodology is axiomatic-deductive, allowing the writer to derive economic and sociological theorems, and then apply them to interpret historical events.A compelling chapter on time preference describes the progress of civilization as lowering time preferences as capital structure is built, and explains how the interaction between people can lower time all around, with interesting parallels to the Ricardian Law of Association. By focusing on this transformation, the author is able to interpret many historical phenomena, such as rising levels of crime, degeneration of standards of conduct and morality, and the growth of the mega-state. In underscoring the deficiencies of both monarchy and democracy, the author demonstrates how these systems are both inferior to a natural order based on private-property.Hoppe deconstructs the classical liberal belief in the possibility of limited government and calls for an alignment of conservatism and libertarianism as natural allies with common goals. He defends the proper role of the production of defense as undertaken by insurance companies on a free market, and describes the emergence of private law among competing insurers.Having established a natural order as superior on utilitarian grounds, the author goes on to assess the prospects for achieving a natural order. Informed by his analysis of the deficiencies of social democracy, and armed with the social theory of legitimation, he forsees secession as the likely future of the US and Europe, resulting in a multitude of region and city-states. This book complements the author's previous work defending the ethics of private property and natural order. Democracy - The God that Failed will be of interest to scholars and students of history, political economy, and political philosophy.

    A sweeping narrative history of world trade—-from Sumer in 3000 BC to the firestorm over globalization today—-that brilliantly explores trade's colorful and contentious past and provides fresh insights into social, political, cultural, and economic history, as well as a timely assessment of trade's future.

    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.

    John Maynard Keynes, the mercurial Cambridge economist, believed that government had a duty to spend when others would not. He met his opposite in a little-known Austrian economics professor, Freidrich Hayek, who considered attempts to intervene both pointless and potentially dangerous. The battle lines thus drawn, Keynesian economics would dominate for decades and coincide with an era of unprecedented prosperity, but conservative economists and political leaders would eventually embrace and execute Hayek's contrary vision.From their first face-to-face encounter to the heated arguments between their ardent disciples, Nicholas Wapshott here unearths the contemporary relevance of Keynes and Hayek, as present-day arguments over the virtues of the free market and government intervention rage with the same ferocity as they did in the 1930s.