Sachs-one of the world's most respected economists and the author of The New York Times bestseller The End of Poverty- offers an urgent assessment of the environmental degradation, rapid population growth, and extreme poverty that threaten global peace and prosperity. Through crystalline examination of hard facts, Sachs predicts the cascade of crises that awaits this crowded planet-and presents a program of sustainable development and international cooperation that will correct this dangerous course. Few luminaries anywhere on the planet are as schooled in this daunting subject as Sachs, and this is the vital product of his experience and wisdom.

    Reinert suggests that this set of policies in various combinations has driven successful development from Renaissance Italy to the modern Far East. Yet despite its demonstrable sucess, orthodox developemt economists have largely ignored this approach and insisted instead on the importance of free trade. Reinart shows how the history of economics has long been torn between the continental Renaissance tradition on one hand and the free market theories of English and later American economies on the other. Our economies were founded on protectionism and state activism—look at China today—and could only later afford the luxury of free trade. When our leaders come to lecture poor countries on the right road to riches they do so in almost perfect ignorance of the real history of national affluence.

    In The Third Pillar he offers up a magnificent big-picture framework for understanding how these three forces--the state, markets, and our communities--interact, why things begin to break down, and how we can find our way back to a more secure and stable plane.The "third pillar" of the title is the community we live in. Economists all too often understand their field as the relationship between markets and the state, and they leave squishy social issues for other people. That's not just myopic, Rajan argues; it's dangerous. All economics is actually socioeconomics - all markets are embedded in a web of human relations, values and norms. As he shows, throughout history, technological phase shifts have ripped the market out of those old webs and led to violent backlashes, and to what we now call populism. Eventually, a new equilibrium is reached, but it can be ugly and messy, especially if done wrong.Right now, we're doing it wrong. As markets scale up, the state scales up with it, concentrating economic and political power in flourishing central hubs and leaving the periphery to decompose, figuratively and even literally. Instead, Rajan offers a way to rethink the relationship between the market and civil society and argues for a return to strengthening and empowering local communities as an antidote to growing despair and unrest. Rajan is not a doctrinaire conservative, so his ultimate argument that decision-making has to be devolved to the grass roots or our democracy will continue to wither, is sure to be provocative. But even setting aside its solutions, The Third Pillar is a masterpiece of explication, a book that will be a classic of its kind for its offering of a wise, authoritative and humane explanation of the forces that have wrought such a sea change in our lives.

    But is it avoidable? And if it happens, is the outcome already inevitable?China and America are world powers without serious rivals. They eye each other warily across the Pacific; they communicate poorly; there seems little natural empathy. A massive geopolitical contest has begun.America prizes freedom; China values freedom from chaos.America values strategic decisiveness; China values patience.America is becoming society of lasting inequality; China a meritocracy.America has abandoned multilateralism; China welcomes it.Kishore Mahbubani, a diplomat and scholar with unrivalled access to policymakers in Beijing and Washington, has written the definitive guide to the deep fault lines in the relationship, a clear-eyed assessment of the risk of any confrontation, and a bracingly honest appraisal of the strengths and weaknesses, and superpower eccentricities, of the US and China.

    We all sense that, but Mervyn King knows it firsthand; his ten years at the helm of the Bank of England, including at the height of the financial crisis, revealed profound truths about the mechanisms of our capitalist society. In The End of Alchemy he offers us an essential work about the history and future of money and banking, the keys to modern finance.The Industrial Revolution built the foundation of our modern capitalist age. Yet the flowering of technological innovations during that dynamic period relied on the widespread adoption of two much older ideas: the creation of paper money and the invention of banks that issued credit. We take these systems for granted today, yet at their core both ideas were revolutionary and almost magical. Common paper became as precious as gold, and risky long-term loans were transformed into safe short-term bank deposits. As King argues, this is financial alchemy—the creation of extraordinary financial powers that defy reality and common sense. Faith in these powers has led to huge benefits; the liquidity they create has fueled economic growth for two centuries now. However, they have also produced an unending string of economic disasters, from hyperinflations to banking collapses to the recent global recession and current stagnation.How do we reconcile the potent strengths of these ideas with their inherent weaknesses? King draws on his unique experience to present fresh interpretations of these economic forces and to point the way forward for the global economy. His bold solutions cut through current overstuffed and needlessly complex legislation to provide a clear path to durable prosperity and the end of overreliance on the alchemy of our financial ancestors.

    Some went on to create governments that were accountable to their constituents. We take these institutions for granted, but they are absent or are unable to perform in many of today’s developing countries—with often disastrous consequences for the rest of the world.Francis Fukuyama, author of the bestselling The End of History and the Last Man and one of our most important political thinkers, provides a sweeping account of how today’s basic political institutions developed. The first of a major two-volume work, The Origins of Political Order begins with politics among our primate ancestors and follows the story through the emergence of tribal societies, the growth of the first modern state in China, the beginning of the rule of law in India and the Middle East, and the development of political accountability in Europe up until the eve of the French Revolution.Drawing on a vast body of knowledge—history, evolutionary biology, archaeology, and economics—Fukuyama has produced a brilliant, provocative work that offers fresh insights on the origins of democratic societies and raises essential questions about the nature of politics and its discontents.

    Written in clear and incisive prose, The Wealth of Nations articulates the concepts indispensable to an understanding of contemporary society; and Robert Reich's Introduction both clarifies Smith's analyses and illuminates his overall relevance to the world in which we live. As Reich writes, "Smith's mind ranged over issues as fresh and topical today as they were in the late eighteenth century--jobs, wages, politics, government, trade, education, business, and ethics."Introduction by Robert Reich - Commentary by R. H. Campbell and A. S. Skinner - Includes a Modern Library Reading Group Guide

    Rothbard begins with a quick overview of its historical roots, and then goes on to define libertarianism as resting "upon one single axiom: that no man or group of men shall aggress upon the person or property of anyone else." He writes a withering critique of the chief violator of liberty: the State. Rothbard then provides penetrating libertarian solutions for many of today's most pressing problems, including poverty, war, threats to civil liberties, the education crisis, and more.

    A native of the former Soviet Union, he lived as an exchange student in North Korea in the 1980s. He has studied it for his entire career, using his fluency in Korean and personal contacts to build a rich, nuanced understanding. In The Real North Korea, Lankov substitutes cold, clear analysis for the overheated rhetoric surrounding this opaque police state. After providing an accessible history of the nation, he turns his focus to what North Korea is, what its leadership thinks, and how its people cope with living in such an oppressive and poor place. He argues that North Korea is not irrational, and nothing shows this better than its continuing survival against all odds. A living political fossil, it clings to existence in the face of limited resources and a zombie economy, manipulating great powers despite its weakness. Its leaders are not ideological zealots or madmen, but perhaps the best practitioners of Machiavellian politics that can be found in the modern world. Even though they preside over a failed state, they have successfully used diplomacy-including nuclear threats-to extract support from other nations. But while the people in charge have been ruthless and successful in holding on to power, Lankov goes on to argue that this cannot continue forever, since the old system is slowly falling apart. In the long run, with or without reform, the regime is unsustainable. Lankov contends that reforms, if attempted, will trigger a dramatic implosion of the regime. They will not prolong its existence. Based on vast expertise, this book reveals how average North Koreans live, how their leaders rule, and how both survive.

    He reveals the hidden ecological and social costs of a hamburger (as much as $200), and asks how we came to have markets in the first place. Both the corporate capture of government and our current financial crisis, Patel argues, are a result of our democratically bankrupt political system.If part one asks how we can rebalance society and limit markets, part two answers by showing how social organizations, in America and around the globe, are finding new ways to describe the world's worth. If we don't want the market to price every aspect of our lives, we need to learn how such organizations have discovered democratic ways in which people, and not simply governments, can play a crucial role in deciding how we might share our world and its resources in common.This short, timely and inspiring book reveals that our current crisis is not simply the result of too much of the wrong kind of economics. While we need to rethink our economic model, Patel argues that the larger failure beneath the food, climate and economic crises is a political one. If economics is about choices, Patel writes, it isn't often said who gets to make them. The Value of Nothing offers a fresh and accessible way to think about economics and the choices we will all need to make in order to create a sustainable economy and society.

    Coggan's account of the rise of the world economy is accessible and mercifully free of jargon'Sunday TimesMore tracks the development of the world economy, starting with the first obsidian blades that made their way from what is now Turkey to the Iran-Iraq border 7000 years before Christ, and ending with the Sino-American trade war that we are in right now.Taking history in great strides, More illustrates broad changes by examining details from the design of the standard medieval cottage to the stranglehold that Paris's three belt-buckle-making guilds exercised over innovation in the field of holding up trousers. Along the way Coggan reveals that historical economies were far more sophisticated than we might imagine - tied together by webs of credit and financial instruments much like the modern economy.Coggan shows how, at every step of our long journey, it was connections between people - allowing more trade, more specialisation, more ideas and more freedom - that always created the conditions of prosperity.

    Among the dominant strains of liberalism, he discerns the counter-currents of more radical positions, lost in the constitution of the modern world order.

    Another Great Depression? Not quite. Noted economist and China expert Michael Pettis argues instead that we are undergoing a critical rebalancing of the world economies. Debunking popular misconceptions, Pettis shows that severe trade imbalances spurred on the recent financial crisis and were the result of unfortunate policies that distorted the savings and consumption patterns of certain nations. Pettis examines the reasons behind these destabilizing policies, and he predicts severe economic dislocations--a lost decade for China, the breaking of the Euro, and a receding of the U.S. dollar--that will have long-lasting effects.Pettis explains how China has maintained massive--but unsustainable--investment growth by artificially lowering the cost of capital. He discusses how Germany is endangering the Euro by favoring its own development at the expense of its neighbors. And he looks at how the U.S. dollar's role as the world's reserve currency burdens America's economy. Although various imbalances may seem unrelated, Pettis shows that all of them--including the U.S. consumption binge, surging debt in Europe, China's investment orgy, Japan's long stagnation, and the commodity boom in Latin America--are closely tied together, and that it will be impossible to resolve any issue without forcing a resolution for all.Demonstrating how economic policies can carry negative repercussions the world over, The Great Rebalancing sheds urgent light on our globally linked economic future.

    In The Chinese Economy, Barry Naughton provides both an engaging, broadly focused introduction to China's economy since 1949 and original insights based on his own extensive research. The book will be an essential resource for students, teachers, scholars, business people, and policymakers. It is suitable for classroom use for undergraduate or graduate courses.After presenting background material on the pre-1949 economy and the industrialization, reform, and market transition that have taken place since, the book examines different aspects of the modern Chinese economy. It analyzes patterns of growth and development, including population growth and the one-child family policy; the rural economy, including agriculture and rural industrialization; industrial and technological development in urban areas; international trade and foreign investment; macroeconomic trends and cycles and the financial system; and the largely unaddressed problems of environmental quality and the sustainability of growth.The text is notable also for placing China's economy in interesting comparative contexts, discussing it in relation to other transitional or developing economies and to such advanced industrial countries as the United States and Japan. It provides both a broad historical and macro perspective as well as a focused examination of the actual workings of China's complex and dynamic economic development. Interest in the Chinese economy will only grow as China becomes an increasingly important player on the world's stage. This book will be the standard reference for understanding and teaching about the next economic superpower.

    This edition will appeal to anyone interested in understanding China's complex social processes, and to those who wish to rediscover and re-experience this classic volume again.