For the first time, the major developed economies began to invest more in intangible assets, like design, branding, R&D, and software, than in tangible assets, like machinery, buildings, and computers. For all sorts of businesses, from tech firms and pharma companies to coffee shops and gyms, the ability to deploy assets that one can neither see nor touch is increasingly the main source of long-term success.But this is not just a familiar story of the so-called new economy. Capitalism without Capital shows that the growing importance of intangible assets has also played a role in some of the big economic changes of the last decade. The rise of intangible investment is, Jonathan Haskel and Stian Westlake argue, an underappreciated cause of phenomena from economic inequality to stagnating productivity.Haskel and Westlake bring together a decade of research on how to measure intangible investment and its impact on national accounts, showing the amount different countries invest in intangibles, how this has changed over time, and the latest thinking on how to assess this. They explore the unusual economic characteristics of intangible investment, and discuss how these features make an intangible-rich economy fundamentally different from one based on tangibles.Capitalism without Capital concludes by presenting three possible scenarios for what the future of an intangible world might be like, and by outlining how managers, investors, and policymakers can exploit the characteristics of an intangible age to grow their businesses, portfolios, and economies.

    This is Cherry Denman's witty take on her life trailing husband Charlie round some of the most godforsaken outposts of the world. Illustrated by brilliantly funny cartoons of diplomatic life, this is a collection of clever and very funny tales of global misunderstanding.

    If you’ve ever sought a job or hired someone, applied to college or guided your child into a good kindergarten, asked someone out on a date or been asked out, you’ve participated in a kind of market. Most of the study of economics deals with commodity markets, where the price of a good connects sellers and buyers. But what about other kinds of “goods,” like a spot in the Yale freshman class or a position at Google? This is the territory of matching markets, where “sellers” and “buyers” must choose each other, and price isn’t the only factor determining who gets what.Alvin E. Roth is one of the world’s leading experts on matching markets. He has even designed several of them, including the exchange that places medical students in residencies and the system that increases the number of kidney transplants by better matching donors to patients. In Who Gets What — And Why, Roth reveals the matching markets hidden around us and shows how to recognize a good match and make smarter, more confident decisions.

    This book is required reading for anyone concerned about a fundamental transformation of the ailing capitalist economy."—Cornel West“Richard Wolff’s constructive and innovative ideas suggest new and promising foundations for a much more authentic democracy and sustainable and equitable development, ideas that can be implemented directly and carried forward. A very valuable contribution in troubled times.”—Noam Chomsky"Probably America's most prominent Marxist economist."—The New York TimesCapitalism as a system has spawned deepening economic crisis alongside its bought-and-paid-for political establishment. Neither serves the needs of our society. Whether it is secure, well-paid, and meaningful jobs or a sustainable relationship with the natural environment that we depend on, our society is not delivering the results people need and deserve.One key cause for this intolerable state of affairs is the lack of genuine democracy in our economy as well as in our politics. The solution requires the institution of genuine economic democracy, starting with workers directing their own workplaces, as the basis for a genuine political democracy.Here Richard D. Wolff lays out a hopeful and concrete vision of how to make that possible, addressing the many people who have concluded economic inequality and politics as usual can no longer be tolerated and are looking for a concrete program of action.Richard D. Wolff is professor of economics emeritus at the University of Massachusetts, Amherst. He is currently a visiting professor at the New School for Social Research in New York. Wolff is the author of many books, including Capitalism Hits the Fan: The Global Economic Meltdown and What to Do About It. He hosts the weekly hour-long radio program Economic Update on WBAI (Pacifica Radio) and writes regularly for The Guardian, Truthout.org, and MRZine.

    Our language even has a word—Machiavellian—that encapsulates the images those responses conjure up: An indistinct figure quietly making his way through the darkest corridors of power, hatching plots to play one rival against another A cold-blooded political liar, ready to justify any duplicity undertaken in the name of a noble end that will ultimately justify the most malignant means A coolly practical leader—amoral at best—willing to do whatever is necessary in a world governed not by ideas of right or wrong, but by solutions dictated by realpolitik.But does the Machiavelli most of us think we know bear any resemblance to the Machiavelli who lived, pondered, and wrote?According to Professor William R. Cook, a reading of Machiavelli that considers only those qualities that we today call "Machiavellian" is incomplete, and Machiavelli himself "certainly would not recognize" such sinister interpretations or caricatures of his writings and beliefs. Indeed, The Prince—on the pages of which so much of this image was built—was not even published in his lifetime.In the 24 lectures that make up Machiavelli in Context, Professor Cook offers the opportunity to meet an extraordinarily thoughtful and sincere student of history and its lessons, and to learn that there is far more to him than can be gleaned from any reading of The Prince, no matter how thorough.Although The Prince is the work by which most of us think we know Machiavelli, and although some have indeed called it the first and most important book of political science ever written, it was not, according to Professor Cook, either Machiavelli's most important work or the one most representative of his beliefs. Those distinctions belong, instead, to his Discourses on the First Ten Books of Livy, a longer work started at about the same time and which would, like The Prince, not be published until well after his death."Everyone who has seriously studied the works of Machiavelli agrees that he ... believed in the superiority of a republican form of government, defined as a mixed constitution with elements of monarchy, aristocracy, and democracy."Once we recover the context of the writing of The Prince, and analyze it along with the Discourses on the First Ten Books of Livy, it will be clear how The Prince can be read as a book designed to guide leaders in the creation—for Machiavelli, restoration—of republican government in Italy."Ultimately, Machiavelli's goal wasn't much different from ours. It was to live in a free and equal participatory society, because he believed that was the greatest way in which human beings could live and flourish."In fact, says Professor Cook, "Machiavelli's republican thought influenced the development of institutions and values both in Europe and in America."To present a complete and well-rounded picture of Machiavelli's ideas on how human societies should be organized and governed, Professor Cook sets aside much of Machiavelli's written output—which included the political work The Art of War, a biography, many letters, and even some plays—to focus on The Prince, the Discourses, and, more briefly, his Florentine Histories.In doing so, Professor Cook draws on the same qualities so evident in his previous courses for The Teaching Company: Tocqueville and the American Experience, Dante's Divine Comedy, Francis of Assisi, and St. Augustine's Confessions.Teaching in the relaxed and informal style of those courses, Professor Cook moves easily among the different disciplines so pertinent to an understanding of Machiavelli's ideas, including history, philosophy, government, and the elements of leadership. He is unfailingly clear, always provides any definitions needed to understand the material at hand, and is always ready with a touch of wit whenever that is appropriate.Because so much of our contemporary misunderstanding of Machiavelli's ideas comes from a lack of context, Professor Cook carefully sets the stage for a complete perspective of Machiavelli's world.Long before he turns to the works themselves, you'll have learned about Florence and its political history, both before and during Machiavelli's lifetime; the developing Renaissance culture of Machiavelli's time, especially as it bears on the use of ancient political thought by writers and political leaders; and Machiavelli's own life story, including his education, service to the Florentine Republic, years spent in exile south of Florence, and the ways each period of his life affected his writings.The result is a thorough grounding in the information one needs to understand and appreciate this stunningly original thinker.You'll learn, for example, what Machiavelli means when he discusses the important ideas of virtù and Fortuna.Though these are today invariably translated as virtue and fortune, Machiavelli's meanings can involve much more. Though he sometimes uses virtù in the sense we would understand today, he often uses the word—which comes from the classical Latin word for Man—as a means of describing the way one practices successful statecraft: aggressively, with no reluctance to use lies, deceit, and cruelty that may be required to maintain power, and hence the stability the people deserve.In a similar way Machiavelli uses Fortuna in a different sense than might have been used by, say, Dante when he describes the vagaries of fate over which we have no control.Instead, Machiavelli uses the adage, "Fortune is like a river." Though we cannot control fortune, which may well choose to make the river flood, a good ruler, practicing virtù, can indeed prepare for it, and thus modify its effects.You'll see how Machiavelli first became exposed to history and one of its earliest great practitioners—the Roman historian, Livy—through his own experience of Fortuna.Though printed books such as Livy's Early History of Rome were too expensive for a family like the young Machiavelli's in the 15th century, his father did own a copy. He had written the index, and a copy of the book had been part of his payment. Thus Machiavelli grew up with the volumes about which he would one day write his own most important work, Discourses on the First Ten Books of Livy.You'll be introduced to Cesare Borgia, the son of Pope Alexander VI and the man regarded as Machiavelli's model for The Prince, especially in the way his actions embodied the virtù so important to Machiavelli.Professor Cook brings this out in a shocking story of Borgia's use of a tough and merciless Spaniard—Ramiro d'Orco—to impose order and stability on the area of north central Italy known as the Romagna that had come under Borgia's rule and was beset by crime and violence.D'Orco's brutal methods had the desired effect. And when the job was completed, the local people emerged from their homes one morning to find the two halves of Ramiro d'Orco's body on opposite sides of the town square of Cesana, because d'Orco had been too tough, and Cesare Borgia needed a way to advertise further his concern for the people whose loyalty he wanted.The story also embodies, for Machiavelli, the idea that cruelty can be "well-used," just as being merciful—withholding such cruelty when a leader deems it needed—may be less than merciful in its long-term impact.Finally, you will get to see, throughout these lectures, the development of Machiavelli's reliance on history for its lessons, his role as a Renaissance Humanist thinker, and the emergence of his republican views, which still have tremendous influence today as we ask how republics start, grow, succeed, or fail.As Professor Cook notes, we are not going to agree with all of Machiavelli's answers. But his commitment to asking the right questions—to thinking, reflecting, and learning everything history has to teach us about the best ways to govern and safeguard the future—was total.

    J. O’Rourke, reads Adam Smith’s revolutionary The Wealth of Nations so you don’t have to. Recognized almost instantly on its publication in 1776 as the fundamental work of economics, The Wealth of Nations was also recognized as really long:  the original edition totaled over nine hundred pages in two volumes—including the blockbuster sixty-seven-page “digression concerning the variations in the value of silver during the course of the last four centuries,” which, “to those uninterested in the historiography of currency supply, is like reading Modern Maturity in Urdu.” Although daunting, Smith’s tome is still essential to understanding such current hot-topics as outsourcing, trade imbalances, and Angelina Jolie. In this hilarious, approachable, and insightful examination of Smith and his groundbreaking work, P. J. puts his trademark wit to good use, and shows us why Smith is still relevant, why what seems obvious now was once revolutionary, and why the pursuit of self-interest is so important.

    Then as now, many people considered globalization to be inevitable and irreversible. Yet the entire edifice collapsed in a few months in 1914.Globalization is a choice, not a fact. It is a result of policy decisions and the politics that shape them. Jeffry A. Frieden's insightful history explores the golden age of globalization during the early years of the century, its swift collapse in the crises of 1914-45, the divisions of the Cold War world, and the turn again toward global integration at the end of the century. His history is full of character and event, as entertaining as it is enlightening.

    It was the peg upon which the nation hung its ire and resentment during the financial crisis: the pinnacle of Wall Street arrogance and greed. When Bob Benmosche climbed aboard as CEO, it was widely assumed that he would go down with his ship. In mere months, he turned things around, pulling AIG from the brink of financial collapse and restoring its profitability. Before three years were up, AIG had fully repaid its staggering debt to the U.S. government - with interest.Good for the Money is an unyielding leader's memoir of a career spent fixing companies through thoughtful, unconventional strategy. With his brash, no-holds-barred approach to the job, Benmosche restored AIG's employee morale and good name. His is a story of perseverance, told with refreshing irreverence in unpretentious terms.Called "an American hero" by Andrew Ross Sorkin, author of Too Big to Fail, Benmosche was a self-made man who never forgot what life is like for the nation's 99-percent; again and again, he pushed back against obstinate colleagues to salvage American jobs and industry. Good for the Money affords you a front-row seat for Benmosche's heated battles with major players from Geithner to Obama to Cuomo, and offers incomparable lessons in leadership from the legendary CEO who changed the way Wall Street does business.

    But the subject has been addressed less often by mainstream historians than by anti-Semites or apologists. In this book Jerry Muller, a leading historian of capitalism, separates myth from reality to explain why the Jewish experience with capitalism has been so important and complex--and so ambivalent. Drawing on economic, social, political, and intellectual history from medieval Europe through contemporary America and Israel, "Capitalism and the Jews" examines the ways in which thinking about capitalism and thinking about the Jews have gone hand in hand in European thought, and why anticapitalism and anti-Semitism have frequently been linked. The book explains why Jews have tended to be disproportionately successful in capitalist societies, but also why Jews have numbered among the fiercest anticapitalists and Communists. The book shows how the ancient idea that money was unproductive led from the stigmatization of usury and the Jews to the stigmatization of finance and, ultimately, in Marxism, the stigmatization of capitalism itself. Finally, the book traces how the traditional status of the Jews as a diasporic merchant minority both encouraged their economic success and made them particularly vulnerable to the ethnic nationalism of the nineteenth and twentieth centuries. Providing a fresh look at an important but frequently misunderstood subject, "Capitalism and the Jews" will interest anyone who wants to understand the Jewish role in the development of capitalism, the role of capitalism in the modern fate of the Jews, or the ways in which the story of capitalism and the Jews has affected the history of Europe and beyond, from the medieval period to our own.

    Farmers patrol their fields with rifles and fear losing trade secrets to spies. Hunters plant poisoned meatballs to eliminate rival truffle-hunting dogs. Naive buyers and even knowledgeable experts are duped by liars and counterfeits. This exposé documents the dark, sometimes deadly crimes at each level of the truffle’s path from ground to plate, making sense of an industry that traffics in scarcity, seduction, and cash.

    The 25 chapters are written by experts from around the world and provide extensive coverage of history, theories, institutions and actors, policies, and issues and debates.

    It led to a global panic, brought down the international monetary system, and turned a worldwide recession into a prolonged depression. The German crisis also contributed decisively to the rise of Hitler. Soon after the crisis, the Nazi Party became the largest party of the country which paved the way for Hitler's eventual seizure of power in 1933.The reason for the financial collapse was Germany's large pile of foreign debt denominated in gold currency which condemned the government to cut spending, raise taxes, and lower wages in the middle of a worldwide recession. As the political resistance to this austerity policy grew, the German government began to question its debt obligations, prompting foreign investors to panic and sell their German assets. The resulting currency crisis led to the failure of the already weakened banking system and a partial sovereign default.Hitler managed to profit from the crisis, because he had been the most vocal critic of the reparation regime. As the financial system collapsed, his populist attacks against foreign creditors and the alleged complicity of the German government resonated more than ever with the electorate. Sadly enough, Germany's creditors hesitated too long to take the wind out of Hitler's sails by offering debt relief.In 1931, Tobias Straumann reveals the story of the fatal crisis, demonstrating how a debt trap contributed to the rapid financial and political collapse of a European country, and to the rise of the Nazi Party.

    Yet the critical question facing America remains unanswered: What should be the nation's global strategy for maintaining its exceptional position in the world? Zbigniew Brzezinski tackles this question head-on in this incisive and pathbreaking book.The Grand Chessboard presents Brzezinski's bold and provocative geostrategic vision for American preeminence in the twenty-first century. Central to his analysis is the exercise of power on the Eurasian landmass, which is home to the greatest part of the globe's population, natural resources, and economic activity. Stretching from Portugal to the Bering Strait, from Lapland to Malaysia, Eurasia is the ”grand chessboard” on which America's supremacy will be ratified and challenged in the years to come. The task facing the United States, he argues, is to manage the conflicts and relationships in Europe, Asia, and the Middle East so that no rival superpower arises to threaten our interests or our well-being.The heart of The Grand Chessboard is Brzezinski's analysis of the four critical regions of Eurasia and of the stakes for America in each arena—Europe, Russia, Central Asia, and East Asia. The crucial fault lines may seem familiar, but the implosion of the Soviet Union has created new rivalries and new relationships, and Brzezinski maps out the strategic ramifications of the new geopolitical realities. He explains, for example: Why France and Germany will play pivotal geostrategic roles, whereas Britain and Japan will not. Why NATO expansion offers Russia the chance to undo the mistakes of the past, and why Russia cannot afford to toss this opportunity aside. Why the fate of Ukraine and Azerbaijan are so important to America. Why viewing China as a menace is likely to become a self-fulfilling prophecy. Why America is not only the first truly global superpower but also the last—and what the implications are for America's legacy. Brzezinski's surprising and original conclusions often turn conventional wisdom on its head as he lays the groundwork for a new and compelling vision of America's vital interests. Once, again, Zbigniew Brzezinski provides our nation with a philosophical and practical guide for maintaining and managing our hard-won global power.

    Terrorism spills out of the Middle East into Europe. Russia, Iran, Saudi Arabia, China and Japan vie to see who can be most aggressive. Financial breakdown in Asia and Europe guts growth, challenging hard-won political stability.Yet for the Americans, these changes are fantastic. Alone among the world's powers, only the United States is geographically wealthy, demographically robust, and energy secure. That last piece -- American energy security -- is rapidly emerging as the most critical piece of the global picture.The American shale revolution does more than sever the largest of the remaining ties that bind America's fate to the wider world. It re-industrializes the United States, accelerates the global order's breakdown, and triggers a series of wide ranging military conflicts that will shape the next two decades. The common theme? Just as the global economy tips into chaos, just as global energy becomes dangerous, just as the world really needs the Americans to be engaged, the United States will be...absent.In 2014's The Accidental Superpower, geopolitical strategist Peter Zeihan made the case that geographic, demographic and energy trends were unravelling the global system. Zeihan takes the story a step further in The Absent Superpower, mapping out the threats and opportunities as the world descends into Disorder.

    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.