Wealthy, powerful, and potentially dangerous, hedge fund moguls have become the It Boys of twenty-first ­century capitalism. Ken Griffin of Citadel started out trading convertible bonds from his dorm room at Harvard. Julian Robertson staffed his hedge fund with college athletes half his age, then he flew them to various retreats in the Rockies and raced them up the mountains. Paul Tudor Jones posed for a magazine photograph next to a killer shark and happily declared that a 1929-style crash would be "total rock-and-roll" for him. Michael Steinhardt was capable of reducing underlings to sobs. "All I want to do is kill myself," one said. "Can I watch?" Steinhardt responded. Finance professors have long argued that beating the market is impossible, and yet drawing on insights from physics, economics, and psychology, these titans have cracked the market's mysteries and gone on to earn fortunes. Their innovation has transformed the world, spawning new markets in exotic financial instruments and rewriting the rules of capitalism. More than just a history, More Money Than God is a window on tomorrow's financial system. Hedge funds have been left for dead after past financial panics: After the stock market rout of the early 1970s, after the bond market bloodbath of 1994, after the collapse of Long Term Capital Management in 1998, and yet again after the dot-com crash in 2000. Each time, hedge funds have proved to be survivors, and it would be wrong to bet against them now. Banks such as CitiGroup, brokers such as Bear Stearns and Lehman Brothers, home lenders such as Fannie Mae and Freddie Mac, insurers such as AIG, and money market funds run by giants such as Fidelity-all have failed or been bailed out. But the hedge fund industry has survived the test of 2008 far better than its rivals. The future of finance lies in the history of hedge funds.

    Every week brings fresh news stories about businesses exploiting their staff, avoiding their taxes, and ripping off their customers. Every week, public anger at the system grows. Now, one of Britain’s foremost entrepreneurs intervenes to make the case for putting business back firmly in the service of society, and setting out on a new path to a kinder, fairer form of capitalism.Drawing on four decades of hands-on management experience, the founder of Richer Sounds argues that ethically run businesses are invariably more efficient, more motivated and more innovative than those that care only about the bottom line. He uncovers the simple tools that the best leaders use to make their businesses fair, revealing how others can follow suit. And he also delves into the big questions that modern capitalism has to answer if it is to survive and to thrive. When should – and shouldn’t – the state intervene in the workings of commercial enterprises? What does business as a whole owe back to the wider community? Is the relationship between leaders of big corporations and politicians too cosy, and, if so, what is to be done about it?At heart, The Ethical Capitalist is a plea for a new sense of moral purpose in business. If that takes hold, Julian Richer believes, we might just save capitalism from itself.

    Carter's unpopularity helped Republicans win seats in the House and gain control over the Senate for the first time in over 20 years. The Reagan Era had begun, ushering in a generation of conservative power. Democrats blamed Carter for this catastrophe and spent the next decade pretending he had never existed. Republicans cheered his demise and trotted out his name to scare voters for years to come. Carter and his wife Rosalynn returned to their farm in the small town of Plains, Georgia. They were humiliated, widely unpopular, and even in financial debt. 35 years later, Carter has become the most celebrated post-president in American history. He has won the Nobel Peace Prize, written bestselling books, and become lauded across the world for his efforts on behalf of peace and social justice. Ex-presidents now adopt the Carter model of leveraging their eminent status to benefit humanity. By pursuing diplomatic missions, leading missions to end poverty and working to eradicate disease around the world, Carter has transformed the idea of what a president can accomplish after leaving the White House.This is the story of how Jimmy Carter lost the biggest political prize on earth--but managed to win back something much greater. Jordan Michael Smith is a contributing writer at Salon and the Christian Science Monitor. His writing has appeared in print or online for the New York Times Magazine, Washington Post, The Atlantic, Slate, BBC, and many other publications. Born in Toronto, he holds a Master's of Arts in Political Science from Carleton University. He lives in New York City. www.jordanmichaelsmith.typepad.com.Cover design by Adil Dara.