Klein and Michael Pettis show in this book, they are often the unexpected result of domestic political choices to serve the interests of the rich at the expense of workers and ordinary retirees.   Klein and Pettis trace the origins of today’s trade wars to decisions made by politicians and business leaders in China, Europe, and the United States over the past thirty years. Across the world, the rich have prospered while workers can no longer afford to buy what they produce, have lost their jobs, or have been forced into higher levels of debt. In this thought-provoking challenge to mainstream views, the authors provide a cohesive narrative that shows how the class wars of rising inequality are a threat to the global economy and international peace—and what we can do about it.

    Recognizing that, as Ben put it, "the enemy is forgetting," they examine the causes of the crisis, why it was so damaging, and what it ultimately took to prevent a second Great Depression. And they provide to their successors in the United States and the finance ministers and central bank governors of other countries a valuable playbook for reducing the damage from future financial crises. Firefighting provides a candid and powerful account of the choices they and their teams made during the crisis, working under two presidents and with the leaders of Congress.

    A new leader tries to pull the country out of a terrible recession—only to face a devilish plot from inside his own party. David Frum's darkly comic satire PATRIOTS is not only a warning about the future of American politics. It is a scorching, intimate explanation of why the U.S. political system has so badly failed the American people over the years just past.PATRIOTS tells the story of Walter Schotzke, the aimless young heir to America's largest mustard fortune. Walter is sent by his tough-minded grandmother to work in the office of a distinguished U.S. Senator. She hopes her otherwise worthless only grandchild might find purpose, and even appreciation for his country, from political service. Perhaps the job will also help Walter overcome the tragic loss of both his parents—especially that of his famous father, a genuine American hero, whose example Walter can't ever hope to live up to.

    Crime goes down. The prison population doubles. Fraud by the rich wipes out 40 percent of the world's wealth. The rich get massively richer. No one goes to jail.In search of a solution, journalist Matt Taibbi discovered the Divide, the seam in American life where our two most troubling trends--growing wealth inequality and mass incarceration--come together, driven by a dramatic shift in American citizenship: Our basic rights are now determined by our wealth or poverty. The Divide is what allows massively destructive fraud by the hyperwealthy to go unpunished, while turning poverty itself into a crime--but it's impossible to see until you look at these two alarming trends side by side.

    In The Divide, Jason Hickel brilliantly lays it out, layer upon layer, until you are left reeling with the outrage of it all.’ - Kate Raworth, author of Doughnut EconomicsFor decades we have been told a story about the divide between rich countries and poor countries. We have been told that development is working: that the global South is catching up to the North, that poverty has been cut in half over the past thirty years, and will be eradicated by 2030. It’s a comforting tale, and one that is endorsed by the world’s most powerful governments and corporations. But is it true?Since 1960, the income gap between the North and South has roughly tripled in size. Today 4.3 billion people, 60 per cent of the world's population, live on less than $5 per day. Some 1 billion live on less than $1 a day. The richest eight people now control the same amount of wealth as the poorest half of the world combined.What is causing this growing divide? We are told that poverty is a natural phenomenon that can be fixed with aid. But in reality it is a political problem: poverty doesn’t just exist, it has been created.Poor countries are poor because they are integrated into the global economic system on unequal terms. Aid only works to hide the deep patterns of wealth extraction that cause poverty and inequality in the first place: rigged trade deals, tax evasion, land grabs and the costs associated with climate change. The Divide tracks the evolution of this system, from the expeditions of Christopher Columbus in the 1490s to the international debt regime, which has allowed a handful of rich countries to effectively control economic policies in the rest of the world.Because poverty is a political problem, it requires political solutions. The Divide offers a range of revelatory answers, but also explains that something much more radical is needed – a revolution in our way of thinking. Drawing on pioneering research, detailed analysis and years of first-hand experience, The Divide is a provocative, urgent and ultimately uplifting account of how the world works, and how it can change.

    Perhaps you thought of grocery stores or something sexy like internet retailing, but chances are you didn’t think of banking. Yet, most likely you interact with a bank every time you’re paid and when you pay your bills. Banks facilitate the flow of money through the economy and even if you don’t interact with a bank daily, the businesses you deal with on a daily basis do. For all the interaction people have with banks, few understand how they work or why they work. Even fewer understand why they should consider including bank stocks in their investment portfolio. There are a lot of misconceptions about banks, including understanding what they are and what they do. For many people the word “bank” evokes images of receiving a toaster upon opening an account, or thoughts of security related to the storing of precious items in a safety deposit box. Others might go further and tap their inner Michael Moore and talk about how banks are greedy and evil. It’s our belief that banks aren’t just places to store idle savings (on which you receive virtually nothing in interest) or to cash checks, but that they should be an integral part of an investor’s portfolio. The goal of this book is to provide you with a foundation and framework with which you can both begin to understand banks, but also learn the basic tools used to analyze banks as investments.

    . . . As one who believes in freedom and democracy for all, I honor the Red nation.” —FRANK MARSHALL DAVIS, 1947 In his memoir, Barack Obama omits the full name of his mentor, simply calling him “Frank.” Now, the truth is out: Never has a figure as deeply troubling and controversial as Frank Marshall Davis had such an impact on the development of an American president. Although other radical influences on Obama, from Jeremiah Wright to Bill Ayers, have been scrutinized, the public knows little about Davis, a card-carrying member of the Communist Party USA, cited by the Associated Press as an “important influence” on Obama, one whom he “looked to” not merely for “advice on living” but as a “father” figure. While the Left has willingly dismissed Davis (with good reason), here are the indisputable, eye-opening facts: Frank Marshall Davis was a pro-Soviet, pro–Red China communist. His Communist Party USA card number, revealed in FBI files, was CP #47544. He was a prototype of the loyal Soviet patriot, so radical that the FBI placed him on the federal government’s Security Index. In the early 1950s, Davis opposed U.S. attempts to slow Stalin and Mao. He favored Red Army takeovers of Central and Eastern Europe, and communist control in Korea and Vietnam. Dutifully serving the cause, he edited and wrote for communist newspapers in both Chicago and Honolulu, courting contributors who were Soviet agents. In the 1970s, amid this dangerous political theater, Frank Marshall Davis came into Barack Obama’s life. Aided by access to explosive declassified FBI files, Soviet archives, and Davis’s original newspaper columns, Paul Kengor explores how Obama sought out Davis and how Davis found in Obama an impressionable young man, one susceptible to Davis’s worldview that opposed American policy and traditional values while praising communist regimes. Kengor sees remnants of this worldview in Obama’s early life and even, ultimately, his presidency. Kengor charts with definitive accuracy the progression of Davis’s communist ideas from Chicago to Hawaii. He explores how certain elements of the Obama administration’s agenda reflect Davis’s columns advocating wealth redistribution, government stimulus for “public works projects,” taxpayer-funding of universal health care, and nationalizing General Motors. Davis’s writings excoriated the “tentacles of big business,” blasted Wall Street and “greedy” millionaires, lambasted GOP tax cuts that “spare the rich,” attacked “excess profits” and oil companies, and perceived the Catholic Church as an obstacle to his vision for the state—all the while echoing Davis’s often repeated mantra for transformational and fundamental “change.” And yet, The Communist is not unsympathetic to Davis, revealing him as something of a victim, an African- American who suffered devastating racial persecution in the Jim Crow era, steering this justly angered young man on a misguided political track. That Davis supported violent and heartless communist regimes over his own country is impossible to defend. That he was a source of inspiration to President Barack Obama is impossible to ignore. Is Obama working to fulfill the dreams of Frank Marshall Davis? That question has been impossible to answer, since Davis’s writings and relationship with Obama have either been deliberately obscured or dismissed as irrelevant. With Paul Kengor’s The Communist, Americans can finally weigh the evidence and decide for themselves. *** There were hundreds of thousands of American communists like Frank who agitated throughout the twentieth century. They chose the wrong side of history, a horrendously bloody side that left a wake of more than 100 million corpses from the streets of the Bolshevik Revolution to the base of the Berlin Wall—double the combined dead of the century’s two world wars. And they never apologized. Quite the contrary, they cursed their accusers for daring to charge (correctly) that they were communists whose ideology threatened the American way and the greater world and all of humanity. They took their denials to the grave, and still today their liberal/progressive dupes continue to conceal their crimes and curse their accusers for them. We need hundreds and thousands of more books on American communists like Frank, so we can finally start to get this history right— and, more so, learn its vital lessons. To fail to do so is a great historical injustice. We especially need to flesh out these lessons, which are morality tales in the truest sense of the word, when we find the rarest case of a man like “Frank” managing to influence someone as influential as the current president of the United States of America—the leader of the free world and driver of the mightiest political/economic engine in history. Such figures cannot be ignored. The people who influence our presidents matter. —from The Communist: The Untold Story of Barack Obama’s Mentor

    But are its analyses of inequality and economic growth on target? Where should researchers go from here in exploring the ideas Piketty pushed to the forefront of global conversation? A cast of economists and other social scientists tackle these questions in dialogue with Piketty, in what is sure to be a much-debated book in its own right.After Piketty opens with a discussion by Arthur Goldhammer, the book's translator, of the reasons for Capital's phenomenal success, followed by the published reviews of Nobel laureates Paul Krugman and Robert Solow. The rest of the book is devoted to newly commissioned essays that interrogate Piketty's arguments. Suresh Naidu and other contributors ask whether Piketty said enough about power, slavery, and the complex nature of capital. Laura Tyson and Michael Spence consider the impact of technology on inequality. Heather Boushey, Branko Milanovic, and others consider topics ranging from gender to trends in the global South. Emmanuel Saez lays out an agenda for future research on inequality, while a variety of essayists examine the book's implications for the social sciences more broadly. Piketty replies to these questions in a substantial concluding chapter.An indispensable interdisciplinary work, After Piketty does not shy away from the seemingly intractable problems that made Capital in the Twenty-First Century so compelling for so many.

    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.

    Unlike all other presidents except Abraham Lincoln—who decided to fight the Civil War before he was sworn in—Barack Obama determined the fate of his presidency before he became president. The policy results ultimately led to the worst person Obama could have imagined taking his place eight years later.During these four months, Obama chose neoliberal policies for restoring the economy, reforming health care, addressing the housing market collapse, and moving to clean power.This book describes how these decisions were made. Obama found himself trapped by the Bush administration’s prioritization of bolstering wall street. Then he made Hillary Clinton’s economic advisors his own and took their counsel. Although the Great Recession could have been much worse, the neoliberal policies led to a drawn out and uneven recovery, unpopular and limited health care reform, and failed energy reform.Based on dozens of interviews with actors in the Obama transition, as well as the author’s personal observations, this book provides unique commentary on the fateful decisions of the winter of 2008-2009. Among those interviewed: David Axelrod, Tom Daschle, Austan Goolsbee, Peter Orszag, Christy Romer, and Larry Summers.The ramifications of the Great Recession are not behind us. The 2016 election has not ended. The same battle between progressivism and neoliberalism still rages in the Democratic Party. As many seek the Presidency in the November 2020 election, all candidates and of course the eventual winner will continue to face decisions similar to those confronted by Barack Obama.Everyone should learn from this critical and little-understood history.

    Benjamin Kunkel’s Utopia or Bust leads readers—whether politically committed or simply curious—through the most important critical theory today. Written with the wit and verve of Kunkel’s best-selling novel, Indecision, this introduction to contemporary Leftist thinkers engages with the revolutionary philosophy of Slavoj Žižek, the economic analyses of David Graeber and David Harvey, and the cultural diagnoses of Fredric Jameson. Discussing the ongoing crisis of capitalism in light of ideas of full employment, debt forgiveness, and “fictitious capital,” Utopia or Bust is a tour through the world of Marxist thought and an examination of the basis of Western society today.

    Enter the new prophets of capital: Sheryl Sandberg touting the capitalist work ethic as the antidote to gender inequality; John Mackey promising that free markets will heal the planet; Oprah Winfrey urging us to find solutions to poverty and alienation within ourselves; and Bill and Melinda Gates offering the generosity of the 1 percent as the answer to a persistent, systemic inequality. The new prophets of capital buttress an exploitative system, even as the cracks grow more visible.

    The Constitution grants each American the right to self-determination, to be protected from others whose actions are destructive to their lives and property. Yet as Kibbe persuasively shows, the political and corporate establishment consolidates its power by infringing upon our independence—from taxes to regulations to spying—ultimately eroding the ideals, codified in law, that have made the United States unique in history.Kibbe offers a surefire plan for reclaiming our inalienable rights and regaining control of our lives, grounded in six simple rules: Don’t hurt people: Free people just want to be left alone, not hassled or harmed by someone else with an agenda or designs over their life and property. Don’t take people’s stuff: America’s founders fought to ensure property rights and our individual right to the fruits of our labors. Take responsibility: Liberty takes responsibility. Don’t sit around waiting for someone else to solve your problems. Work for it: For every action there is an equal reaction. Work hard and you’ll be rewarded. Mind your own business: Free people live and let live. Fight the power: Thanks to the Internet and the decentralization of knowledge, there are more opportunities than ever to take a stand against corrupt authority.

    Everywhere, that is, except in our politics. There we are held hostage to an eighteenth century system, dominated by two political parties whose ever-more-polarized rhetorical positions mask a mutual interest in maintaining a stranglehold on power.The Declaration of Independents is a compelling and extremely entertaining manifesto on behalf of a system better suited to the future--one structured by the essential libertarian principles of free minds and free markets. Gillespie and Welch profile libertarian innovators, identify the villains propping up the ancien regime, and take aim at do-something government policies that hurt most of those they claim to protect. Their vision will resonate with a wide swath of frustrated citizens and young voters, born after the Cold War's end, to whom old tribal allegiances, prejudices, and hang-ups about everything from hearing a foreign language on the street to gay marriage to drug use simply do not make sense.

    American Studies, Social Studies