. . worldwideEverybody's talking about the economy, but how can we, the people, understand what Wall Street or Washington knows--or say they know? Read "Economix."With clear, witty writing and quirky, accessible art, this important and timely graphic novel transforms "the dismal science" of economics into a fun, fact-filled story about human nature and our attempts to make the most of what we've got . . . and sometimes what our neighbors have got. "Economix "explains it all, from the beginning of Western economic thought, to markets free and otherwise, to economic failures, successes, limitations, and future possibilities. It's the essential, accessible guide to understanding the economy and economic practices. A must-read for every citizen and every voter.PRAISE FOR "ECONOMIX""It's simply phenomenal. You could read ten books on the subject and not glean as much information."-- David Bach founder of FinishRich Media; author of nine "New York Times" bestsellers, including "Debt Free for Life" and "The Automatic Millionaire" "Goodwin has done the seemingly impossible--he has made economics comprehensible "and" funny."-- Joel Bakan, author of "The Corporation" "The Pathological Pursuit of Profit and Power" "An amazing lesson in true-world economics Delightfully presented, powerful, insightful, and important information What a fun way to fathom a deep and often dark subject "-- John Perkins, author of "Hoodwinked" and the "New York Times" bestseller "Confessions of an Economic Hit Man" "Smart, insightful, clear, and as close to the truth as economics can get. The bonus: Who would have guessed that economics could be fun, and--here's the joy--really accessible? Goodwin roots us in history and fills us with common sense understanding. As he puts it early on, economics seems horribly complicated mostly because we're looking at it all at once. Broken down into its component pieces, it's relatively easy to understand. And a good understanding of economics is critical to maneuvering in the world today. If I were compiling a list of the 100 most important books you can read in a lifetime, this would be on it."--Stephen Petranek, editor-in-chief, Weider History magazines, former editor-in-chief of "Discover" magazine "Through a potent mix of comics and punchy, concise, accessible prose, Goodwin takes us on a provocative, exhaustively researched, and exceedingly engaging trip through our history and present day, creating an alternately hilarious and scary picture of where we are today as an economy-- and what it all means. More than that, Goodwin makes the arcane, understandable. If your mind either spins or slumbers at the thought of economics, read Goodwin's "Economix" and all will become clear. --Nomi Prins, author of "It Takes a Pillage: An Epic Tale of Power, Deceit, and Untold Trillions" ""Economix" is a lively, cheerfully opinionated romp through the historical and intellectual foundations of our current economy and our current economic problems. Goodwin has a knack for distilling complex ideas and events in ways that invite the reader to follow the big picture without losing track of what actually happened. Any reader wondering how our economy got to where it is today will find this a refreshing overview."--Timothy W. Guinnane, Philip Golden Bartlett Professor of Economic History, Yale University

    But over the past four decades, the principle of equality before the law has been effectively abolished. Instead, a two-tiered system of justice ensures that the country's political and financial class is virtually immune from prosecution, licensed to act without restraint, while the politically powerless are imprisoned with greater ease and in greater numbers than in any other country in the world.Starting with Watergate, continuing on through the Iran-Contra scandal, and culminating with Obama's shielding of Bush-era officials from prosecution, Glenn Greenwald lays bare the mechanisms that have come to shield the elite from accountability. He shows how the media, both political parties, and the courts have abetted a process that has produced torture, war crimes, domestic spying, and financial fraud. Cogent, sharp, and urgent, this is a no-holds-barred indictment of a profoundly un-American system that sanctions immunity at the top and mercilessness for everyone else.

    The Great Inflation, argues award-winning columnist Robert J. Samuelson in this provocative book, was the worst domestic policy blunder of the postwar era and played a crucial role in transforming American politics, economy, and everyday life-and yet its story is hardly remembered or appreciated. In these uncertain economic times, it is more imperative than ever that we understand what happened in the 1960s and 1970s, lest we be doomed to repeat our mistakes. From 1960 to 1979, inflation rose from barely more than 1 percent to nearly 14 percent. It was the greatest peacetime inflationary spike in this nation's history, and it had massive repercussions in every area of our lives. The direct consequences included Ronald Reagan's election to the presidency in 1980, stagnation in living standards, and a growing belief-both in America and abroad-that the great-power status of the United States was ending." The Great Inflation and Its Aftermath" traces the origins and rise of double-digit inflation and its fall in the brutal 1981-82 recession, engineered by the Federal Reserve under then-chairman Paul Volcker and with the staunch backing of Reagan. But that is only half the story. The end of high inflation triggered economic and social changes that are still with us. The stock market and housing booms were both direct outcomes; American business became more productive-and also much less protective of workers; and globalization was encouraged. We cannot understand today's world, Samuelson contends, without understanding the Great Inflation and its aftermath. Nor can we prepare for the future unless we heed its lessons. This incisive and enlightening book will stand as the authoritative account of a watershed event of our times. Praise for "The Great Inflation and Its Aftermath"""Newsweek" and "Washington Post" columnist Samuelson is one of the rare journalists who debates politics and economics with a healthy skepticism toward conventional wisdom. Politicians would do well to study [the errors] the past that teach that choosing quick fixes only delays and worsens the inevitable.""- Booklist" "If you want to understand the economic events of the last half century, you should read. . . Robert Samuelson's The Great Inflation and Its Aftermath: --U.S News & World Report.

    A cyber-enigma with an enthusiastic following, it pops up in headlines and fuels endless media debate. You can apparently use it to buy anything from coffee to cars, yet few people seem to truly understand what it is. This raises the question: Why should anyone care about bitcoin?In The Age of Cryptocurrency, Wall Street journalists Paul Vigna and Michael J. Casey deliver the definitive answer to this question. Cybermoney is poised to launch a revolution, one that could reinvent traditional financial and social structures while bringing the world's billions of "unbanked" individuals into a new global economy. Cryptocurrency holds the promise of a financial system without a middleman, one owned by the people who use it and one safeguarded from the devastation of a 2008-type crash.But bitcoin, the most famous of the cybermonies, carries a reputation for instability, wild fluctuation, and illicit business; some fear it has the power to eliminate jobs and to upend the concept of a nation state. It implies, above all, monumental and wide-reaching change-for better and for worse. But it is here to stay, and you ignore it at your peril.Vigna and Casey demystify cryptocurrency-its origins, its function, and what you need to know to navigate a cyber-economy. The digital currency world will look very different from the paper currency world; The Age of Cryptocurrency will teach you how to be ready.

    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.

    Suskind moves from the frenzied trading floors of lower Manhattan to the power corridors inside the Beltway and introduces a larger than life cast of politicians and advisors, titans of high finance, reformers, lobbyists, and others who faced a crisis unlike anything they had ever imagined. Based on hundreds of hours of interviews and exhaustive research, filled with piercing insight and startling disclosures, Confidence Men goes beyond the headlines and previous accounts, bringing into focus the unprecedented struggle between the nation's two capitals; New York and Washington, one of private gain, the other of public purpose;that continues to divide and roil America.

    In the wake of the Fail Decade, Americans have historically low levels of trust in their institutions; the social contract between ordinary citizens and elites lies in tatters.How did we get here? With Twilight of the Elites, Christopher Hayes offers a radically novel answer. Since the 1960s, as the meritocracy elevated a more diverse group of men and women into power, they learned to embrace the accelerating inequality that had placed them near the very top. Their ascension heightened social distance and spawned a new American elite--one more prone to failure and corruption than any that came before it.Mixing deft political analysis, timely social commentary, and deep historical understanding, Twilight of the Elites describes how the society we have come to inhabit – utterly forgiving at the top and relentlessly punitive at the bottom – produces leaders who are out of touch with the people they have been trusted to govern. Hayes argues that the public's failure to trust the federal government, corporate America, and the media has led to a crisis of authority that threatens to engulf not just our politics but our day-to-day lives.Upending well-worn ideological and partisan categories, Hayes entirely reorients our perspective on our times. Twilight of the Elites is the defining work of social criticism for the post-bailout age.

    Acemoglu and Robinson are intellectual heavyweights of the first rank . . . erudite and fascinating' Paul Collier, Guardian, on Why Nations FailBy the authors of the international bestseller Why Nations Fail, based on decades of research, this powerful new big-picture framework explains how some countries develop towards and provide liberty while others fall to despotism, anarchy or asphyxiating norms- and explains how liberty can thrive despite new threats.Liberty is hardly the 'natural' order of things; usually states have been either too weak to protect individuals or too strong for people to protect themselves from despotism. There is also a happy Western myth that where liberty exists, it's a steady state, arrived at by 'enlightenment'. But liberty emerges only when a delicate and incessant balance is struck between state and society - between elites and citizens. This struggle becomes self-reinforcing, inducing both state and society to develop a richer array of capacities, thus affecting the peacefulness of societies, the success of economies and how people experience their daily lives.Explaining this new framework through compelling stories from around the world, in history and from today - and through a single diagram on which the development of any state can be plotted - this masterpiece helps us understand the past and present, and analyse the future.'An intellectually rich book that develops an important thesis with verve' Martin Wolf, Financial Times, on Why Nations Fail

    Bull By The Horns: Fighting To Save Main Street From Wall Street, by Bair, Sheila

    Minsky (1919-96). Although a handful of economists raised alarms as early as 2000, Minsky's warnings began a half-century earlier, with writings that set out a compelling theory of financial instability. Yet even today he remains largely outside mainstream economics; few people have a good grasp of his writings, and fewer still understand their full importance. Why Minsky Matters makes the maverick economist's critically valuable insights accessible to general readers for the first time. L. Randall Wray shows that by understanding Minsky we will not only see the next crisis coming but we might be able to act quickly enough to prevent it.As Wray explains, Minsky's most important idea is that stability is destabilizing: to the degree that the economy achieves what looks to be robust and stable growth, it is setting up the conditions in which a crash becomes ever more likely. Before the financial crisis, mainstream economists pointed to much evidence that the economy was more stable, but their predictions were completely wrong because they disregarded Minsky's insight. Wray also introduces Minsky's significant work on money and banking, poverty and unemployment, and the evolution of capitalism, as well as his proposals for reforming the financial system and promoting economic stability.A much-needed introduction to an economist whose ideas are more relevant than ever, Why Minsky Matters is essential reading for anyone who wants to understand why economic crises are becoming more frequent and severe--and what we can do about it.

    In contrast, they have advanced a policy of draconian budget cuts--austerity--to solve the financial crisis. We are told that we have all lived beyond our means and now need to tighten our belts. This view conveniently forgets where all that debt came from. Not from an orgy of government spending, but as the direct result of bailing out, recapitalizing, and adding liquidity to the broken banking system. Through these actions private debt was rechristened as government debt while those responsible for generating it walked away scot free, placing the blame on the state, and the burden on the taxpayer. That burden now takes the form of a global turn to austerity, the policy of reducing domestic wages and prices to restore competitiveness and balance the budget. The problem, according to political economist Mark Blyth, is that austerity is a very dangerous idea. First of all, it doesn't work. As the past four years and countless historical examples from the last 100 years show, while it makes sense for any one state to try and cut its way to growth, it simply cannot work when all states try it simultaneously: all we do is shrink the economy. In the worst case, austerity policies worsened the Great Depression and created the conditions for seizures of power by the forces responsible for the Second World War: the Nazis and the Japanese military establishment. As Blyth amply demonstrates, the arguments for austerity are tenuous and the evidence thin. Rather than expanding growth and opportunity, the repeated revival of this dead economic idea has almost always led to low growth along with increases in wealth and income inequality. Austerity demolishes the conventional wisdom, marshaling an army of facts to demand that we austerity for what it is, and what it costs us.

    In fact, as Liaquat Ahamed reveals, it was the decisions taken by a small number of central bankers that were the primary cause of the economic meltdown, the effects of which set the stage for World War II and reverberated for decades. In Lords of Finance, we meet the neurotic and enigmatic Montagu Norman of the Bank of England, the xenophobic and suspicious Émile Moreau of the Banque de France, the arrogant yet brilliant Hjalmar Schacht of the Reichsbank, and Benjamin Strong of the Federal Reserve Bank of New York, whose façade of energy and drive masked a deeply wounded and overburdened man. After the First World War, these central bankers attempted to reconstruct the world of international finance. Despite their differences, they were united by a common fear—that the greatest threat to capitalism was inflation— and by a common vision that the solution was to turn back the clock and return the world to the gold standard. For a brief period in the mid-1920s they appeared to have succeeded. The world’s currencies were stabilized and capital began flowing freely across the globe. But beneath the veneer of boom-town prosperity, cracks started to appear in the financial system. The gold standard that all had believed would provide an umbrella of stability proved to be a straitjacket, and the world economy began that terrible downward spiral known as the Great Depression. As yet another period of economic turmoil makes headlines today, the Great Depression and the year 1929 remain the benchmark for true financial mayhem. Offering a new understanding of the global nature of financial crises, Lords of Finance is a potent reminder of the enormous impact that the decisions of central bankers can have, of their fallibility, and of the terrible human consequences that can result when they are wrong.

    Now New York Times bestselling author Arthur C. Brooks offers a bold new vision for conservatism as a movement for happiness, unity, and social justice—a movement of the head and heart that boldly challenges the liberal monopoly on "fairness" and "compassion."Many Americans today see two dispiriting political choices: ineffective compassion on one side and heartless pragmatism on the other. Progressives have always presented themselves as champions of the poor and vulnerable. But they have not succeeded—more and more people are hopeless and dependent on government. Meanwhile, conservatives possess the best solutions to the problems of poverty and declining mobility. Yet because they don't speak in a way that reflects their concern and compassion, many Americans don't trust them. Americans know that outmoded redistribution yields poor results and does little for the pursuit of happiness. But there seems to be no conservative alternative that looks out for those struggling to get by.Arthur Brooks, one of the country's leading policy experts and the president of the American Enterprise Institute, has considered these issues for decades. Drawing on years of research on the sources of happiness and the conditions of human flourishing, Brooks presents a social justice agenda for a New Right. Proposing a set of practical policies firmly grounded in the four "institutions of meaning"—family, faith, community, and meaningful work—Brooks describes a government safety net that actually lifts people up, and offers a vision of true hope through earned success.Brooks argues that it is time for a new kind of conservatism, one that fights poverty, promotes equal opportunity, and extols spiritual enlightenment. It is an inclusive, optimistic movement with a positive agenda to help people lead happier and more fulfilling lives.Clear, well-reasoned, accessible, and free of vituperative politics, The Conservative Heart is a welcome new strategy for conservatives looking for fresh, actionable ideas—and for politically independent citizens who believe that neither side is adequately addressing their needs or concerns.

    Through mechanisms designed by Southern Democrats that specifically excluded maids and farm workers, the gap between blacks and whites actually widened despite postwar prosperity. In the words of noted historian Eric Foner, "Katznelson's incisive book should change the terms of debate about affirmative action, and about the last seventy years of American history."

    In this incisive and controversial book, Chalmers Johnson lays out in vivid detail the dangers faced by our overextended empire, which insists on projecting its military power to every corner of the earth and using American capital and markets to force global economic integration on its own terms. From a case of rape by U.S. servicemen in Okinawa to our role in Asia's financial crisis, from our early support for Saddam Hussein to our conduct in the Balkans, Johnson reveals the ways in which our misguided policies are planting the seeds of future disaster.In a new edition that addresses recent international events from September 11 to the war in Iraq, this now classic book remains as prescient and powerful as ever.