Why Aren't They Shouting?: How Computers Ate Banking


Kevin Rodgers - 2016
    But is it really as simple as that? Kevin Rodgers has his doubts, and in this fascinating inside account of the financial world over the past three decades, he explains why. Taking us from the days when traders still shouted their deals down the phone to the silent modern world of computer trading, he shows how, far more than the pursuit of personal gain, it has been the pursuit of ever-more sophisticated systems, algorithms and financial models that has undermined banking and made it chronically unstable. He also shows how, by their very nature, the computers on which modern finance now so completely depend are hopelessly ill-equipped to forestall a future crash. Both a very personal and evocative account of how banking has changed since the 1980s, and a masterclass in how it actually works, Why Aren't They Shouting also offers a nuanced, if alarming, glimpse into its likely future.

Inhaling the Mahatma


Christopher Kremmer - 2006
    A hijacking, several nuclear explosions and a religious experience ... just some of the ingredients in the latest tour de force from the bestselling author of the Carpet Wars. In the searing summer of 2004, Christopher Kremmer returns to India, a country in the grip of enormous and sometimes violent change. As a young reporter in the 1990s, he first encountered this ancient and complex civilisation. Now, embarking on a yatra, or pilgrimage, he travels the dangerous frontier where religion and politics face off. tracking down the players in a decisive decade, he takes us inside the enigmatic Gandhi dynasty, and introduces an operatic cast of political Brahmins, 'cyber coolies', low-caste messiahs and wrestling priests. A sprawling portrait of India at the crossroads, Inhaling the Mahatma is also an intensely personal story about coming to terms with a dazzlingly different culture, as the author's fate is entwined with a cosmopolitan Hindu family of Old Delhi, and a guru who might just change his life.

The Spy Chronicles: RAW, ISI and the Illusion of Peace


A.S. Dulat - 2018
    Dulat and Asad Durrani. One was a former chief of RAW, India's external intelligence agency, the other of ISI, its Pakistani counterpart. As they could not meet in their home countries, the conversations, guided by journalist Aditya Sinha, took place in cities like Istanbul, Bangkok and Kathmandu. On the table were subjects that have long haunted South Asia, flashpoints that take lives regularly. It was in all ways a deep dive into the politics of the subcontinent, as seen through the eyes of two spymasters. Among the subjects: Kashmir, and a missed opportunity for peace; Hafiz Saeed and 26/11; Kulbhushan Jadhav; surgical strikes; the deal for Osama bin Laden; how the US and Russia feature in the India-Pakistan relationship; and how terror undermines the two countries' attempts at talks. When the project was first mooted, General Durrani laughed and said nobody would believe it even if it was written as fiction. At a time of fraught relations, this unlikely dialogue between two former spy chiefs from opposite sides-a project that is the first of its kind-may well provide some answers.

Immigration Wars: Forging an American Solution


Jeb Bush - 2013
    But today, it divides Americans more stridently than ever, due to a chronic failure of national leadership by both parties. Here at last is an attainable resolution guided by two core principles: first, immigration is vital to America’s future; second, any enduring resolution must adhere to the rule of law. Unfortunately, current laws are so cumbersome and irrational that millions have circumvented them and entered the United States illegally, taxing our system to the breaking point. Jeb Bush and Clint Bolick contend there are other unique factors currently at play: America’s future population expansion will come solely from immigrants. And for the first time, the U.S. must compete with other countries for immigrant workers and their skills. In the first book to offer a practical, nonpartisan approach, Bush and Bolick propose a compelling six-point strategy for reworking our policies that begins with erasing all existing, outdated immigration structures and starting over. From there, Immigration Wars details their plan for advancing the national goals that immigration policy is supposed to achieve: build a demand-driven immigration system; increase states’ autonomy based on varying needs; reduce the significant physical risks and financial costs imposed by illegal immigration; unite Mexico and America in their common war against drug cartels; and educate aspiring citizens in our nation’s founding principles and why they still matter. Here too is a viable variation of the DREAM Act as a legal status for children brought here illegally, and sound strategies for the Republican Party to revitalize their ever-decreasing core constituency. With Immigration Wars as a beacon of hope, Americans can finally solidify a national identity that is based on a set of ideals enriched and reinvigorated by immigrants, most of whom fervently embrace our core values—family, faith, hard work, education, and patriotism.

The End of Alchemy: Money, Banking, and the Future of the Global Economy


Mervyn A. King - 2016
    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.

The War on Normal People: The Truth About America's Disappearing Jobs and Why Universal Basic Income Is Our Future


Andrew Yang - 2018
    The shift toward automation is about to create a tsunami of unemployment. Not in the distant future—now. One recent estimate predicts 45 million American workers will lose their jobs within the next twelve years—jobs that won't be replaced. In a future marked by restlessness and chronic unemployment, what will happen to American society? In The War on Normal People, Andrew Yang paints a dire portrait of the American economy. Rapidly advancing technologies like artificial intelligence, robotics and automation software are making millions of Americans' livelihoods irrelevant. The consequences of these trends are already being felt across our communities in the form of political unrest, drug use, and other social ills. The future looks dire-but is it unavoidable? In The War on Normal People, Yang imagines a different future—one in which having a job is distinct from the capacity to prosper and seek fulfillment. At this vision's core is Universal Basic Income, the concept of providing all citizens with a guaranteed income-and one that is rapidly gaining popularity among forward-thinking politicians and economists. Yang proposes that UBI is an essential step toward a new, more durable kind of economy, one he calls "human capitalism."

The Fourth Industrial Revolution


Klaus Schwab - 2016
    Characterized by a range of new technologies that are fusing the physical, digital and biological worlds, the developments are affecting all disciplines, economies, industries and governments, and even challenging ideas about what it means to be human.Artificial intelligence is already all around us, from supercomputers, drones and virtual assistants to 3D printing, DNA sequencing, smart thermostats, wear­able sensors and microchips smaller than a grain of sand. But this is just the beginning: nanomaterials 200 times stronger than steel and a million times thinner than a strand of hair and the first transplant of a 3D printed liver are already in development. Imagine “smart factories” in which global systems of manu­facturing are coordinated virtually, or implantable mobile phones made of biosynthetic materials.The fourth industrial revolution, says Schwab, is more significant, and its ramifications more profound, than in any prior period of human history. He outlines the key technologies driving this revolution and discusses the major impacts expected on government, business, civil society and individu­als. Schwab also offers bold ideas on how to harness these changes and shape a better future—one in which technology empowers people rather than replaces them; progress serves society rather than disrupts it; and in which innovators respect moral and ethical boundaries rather than cross them. We all have the opportunity to contribute to developing new frame­works that advance progress.

Open Borders: The Science and Ethics of Immigration


Bryan Caplan - 2019
    Those in favor of welcoming more immigrants often cite humanitarian reasons, while those in favor of more restrictive laws argue the need to protect native citizens.But economist Bryan Caplan adds a new, compelling perspective to the immigration debate: He argues that opening all borders could eliminate absolute poverty worldwide and usher in a booming worldwide economy—greatly benefiting humanity.With a clear and conversational tone, exhaustive research, and vibrant illustrations by Zach Weinersmith, Open Borders makes the case for unrestricted immigration easy to follow and hard to deny.

The Origin of Wealth: Evolution, Complexity, And the Radical Remaking of Economics


Eric D. Beinhocker - 2006
    How did this marvel of self-organized complexity evolve? How is wealth created within this system? And how can wealth be increased for the benefit of individuals, businesses, and society? In The Origin of Wealth, Eric D. Beinhocker argues that modern science provides a radical perspective on these age-old questions, with far-reaching implications. According to Beinhocker, wealth creation is the product of a simple but profoundly powerful evolutionary formula: differentiate, select, and amplify. In this view, the economy is a "complex adaptive system" in which physical technologies, social technologies, and business designs continuously interact to create novel products, new ideas, and increasing wealth. Taking readers on an entertaining journey through economic history, from the Stone Age to modern economy, Beinhocker explores how "complexity economics" provides provocative insights on issues ranging from creating adaptive organizations to the evolutionary workings of stock markets to new perspectives on government policies. A landmark book that shatters conventional economic theory, The Origin of Wealth will rewire our thinking about how we came to be here—and where we are going.

The Fall of the Faculty


Benjamin Ginsberg - 2011
    Ginsberg argues that universities have degenerated into poorly managed pseudo-corporations controlled by bureaucrats so far removed from research and teaching that they have barely any idea what these activities involve. He attacks virtually everyone from overpaid presidents and provosts down through development officers, communications specialists and human-resource staffers but he reserves his most bitter scorn for the midlevel "associate deans" and "assistant deans" who often have the most direct control over the faculty. Mr. Ginsberg refers to them as "deanlets," but at my institution they are often called "ass. deans." The Fall of the Faculty" reads like a cross between a grand-jury indictment and a call to arms. Yet as bracing and darkly pleasurable as this call is, it is hard to imagine professors joining the resistance with so few weapons at their disposal."--The Wall Street Journal

The Panama Papers: Breaking the Story of How the Rich and Powerful Hide Their Money


Bastian Obermayer - 2016
    Through encrypted channels, he then receives documents revealing how the president of Argentina has sequestered millions of dollars of state money for private use. This is just the beginning. Obermayer and fellow Suddeutsche journalist Frederik Obermaier find themselves immersed in the secret world where complex networks of letterbox companies help the super-rich to hide their money. Faced with the contents of the largest data leak in history, they activate an international network of journalists to follow every possible line of inquiry. Operating in the strictest secrecy for over a year, they uncover cases involving European prime ministers and international dictators, emirs and kings, celebrities and aristocrats. The real-life thriller behind the story of the century, The Panama Papers is an intense, unputdownable account that proves, once and for all, that there exists a small elite living by a different set of rules and blows their secret world wide open.