And it’s getting worse. Since the turn of the twenty-first century, we’ve seen two massive value-destroying market meltdowns and a string of ethics breaches, including accounting scandals, options-backdating schemes, and the subprime mortgage debacle.Just what is going on here? Is it the inevitable decline of the American economy? Is it the new normal in a technology-enabled global marketplace? Or is it possible that the very theories we’ve embraced to underpin our capital markets are actually producing these crises?In Fixing the Game, Roger Martin reveals the culprit behind the sorry state of American capitalism: our deep and abiding commitment to the idea that the purpose of the firm is to maximize shareholder value. This theory has led to a massive growth in stock-based compensation for executives and, through this, to a naive and wrongheaded linking of the real market—the business of designing, making, and selling products and services—with the expectations market—the business of trading stocks, options, and complex derivatives. Martin shows how this tight coupling has been engineered and lays out its results: a single-minded focus on the expectations market that will continue driving us from crisis to crisis—unless we act now.Using the National Football League as his primary example, Martin illustrates that it is possible to take a much more thoughtful and effective approach than we now do to the intersection of the real and the expectations markets and to governance in general in the capital markets. Martin shows how we can act to end the destructive cycle, including:• Restructuring executive compensation to focus entirely on the real market, not the expectations market• Rethinking the meaning of board governance and role of board members• Reining in the power of hedge funds and monopoly pension fundsConcise, hard-hitting, and entertaining, Fixing the Game advocates seizing American capitalism from the jaws of the expectations market and planting it firmly in the real market—and it presents the steps we must take now to do so.

    From 2004 to 2015, 1,800 print newspaper outlets closed in the US. One in five news organizations in Canada has closed since 2008. One in three Brazilians lives in news deserts. The absence of accountability journalism has created an atmosphere in which indicted politicians were elected, school superintendents were mismanaging districts, and police chiefs were getting mysterious payouts. This is not the much-discussed fake-news problem--it's the separate problem of a critical shortage of real news.America's premier media critic, Margaret Sullivan, charts the contours of the damage, and surveys a range of new efforts to keep local news alive--from non-profit digital sites to an effort modeled on the Peace Corps. No nostalgic paean to the roar of rumbling presses, Ghosting the News instead sounds a loud alarm, alerting citizens to a growing crisis in local news that has already done serious damage.

    Dr. Makary, one of the nation's leading health care experts, travels across America and details why health care has become a bubble. Drawing from on-the-ground stories, his research, and his own experience, The Price We Pay paints a vivid picture of price-gouging, middlemen, and a series of elusive money games in need of a serious shake-up. Dr. Makary shows how so much of health care spending goes to things that have nothing to do with health and what you can do about it. Dr. Makary challenges the medical establishment to remember medicine's noble heritage of caring for people when they are vulnerable.The Price We Pay offers a roadmap for everyday Americans and business leaders to get a better deal on their health care, and profiles the disruptors who are innovating medical care. The movement to restore medicine to its mission, Makary argues, is alive and well--a mission that can rebuild the public trust and save our country from the crushing cost of health care.

    So how did the party of Lincoln become the party of lunatics? That is what this book aims to answer. Fear not, the Dems come in for their share of tough talk they are zombies, a party of the living dead. Mike Lofgren came to Washington in the early eighties those halcyon, post Nixonian glory days for what he imagined would be a short stint on Capitol Hill. He has witnessed quite a few low points in his twenty-eight years on the Hill but none quite so pitiful as the antics of the current crop of legislators whom we appear to have elected. Based on the explosive article Lofgren wrote when he resigned in disgust after the debt ceiling crisis, "The Party Is Over "is a funny and impassioned expose of everything that is wrong with Washington. Obama and his tired cohorts are no angels but they have nothing on the Republicans, whose wily strategists are bankrupting the country one craven vote at a time. Be prepared for some fireworks."

    Forget the 1%; it's the wealthiest .01% who are fast outpacing the rest of us. Today's colossal fortunes are amassed by the diligent toiling of smart, perceptive businessmen who see themselves as deserving victors in a cutthroat international competition.  Cracking open this tight-knit world is Chrystia Freeland, an acclaimed business journalist. At ease in Davos or Dubai, Freeland has reported on the lives and minds of these new super-elites for nearly a decade. Grounding her interviews in the economics and history of modern capitalism, she provides examples of the new wealth and its consequences. She showcases the $3 million birthday party of a New York financier months before the financial meltdown; details the closed-door 2005 SEC meeting where the US government allowed investment banks to write their own regulatory laws; and tells how the Bank of Canada's Mark Carney became a key figure in the central battle between the plutocracy and the rest of us.  Brightly written and powerfully researched, Freeland's Plutocrats will be a lightning rod event in the midst of the US election season.

    In this era of cynicism, it's standard practice to believe corporations from Halliburton to ExxonMobil capable of every form of evil, trained by the profit drive of capitalism to turn a blind eye to the worst consequences of their actions. The Coca-Cola Company, however, represents a special case-at once the quintessential example of a giant American multinational corporation through which it's possible to explore the excesses of capitalism as a whole and a beloved pop culture symbol that has spent billions of dollars to present an image of wholesomeness and harmony cherished by millions of people around the world. Finding the Coca-Cola Company accused of murder is like finding out Santa Claus is accused of being a pedophile.So how is it that a company that, in its own words, "exists to refresh and benefit everyone it touches" now stands accused of drought, disease, exploitation, and murder? To truly understand that contradiction, it's necessary to go back to Coca-Cola's origins as a cocaine-laced "nerve tonic" in the turn-of-the-century American South. It's there that the seeds of its inexorable drive to growth were planted, along with the decisions that have allowed it to disavow responsibility for its bottlers around the globe. That's the essence of Coca-Cola-what one of its legendary executives once called "the essence of capitalism."

    Even as the country divides itself at every turn, the meritocratic ideal - that social and economic rewards should follow achievement rather than breeding - reigns supreme. Both Democrats and Republicans insistently repeat meritocratic notions. Meritocracy cuts to the heart of who we are. It sustains the American dream.But what if, both up and down the social ladder, meritocracy is a sham? Today, meritocracy has become exactly what it was conceived to resist: a mechanism for the concentration and dynastic transmission of wealth and privilege across generations. Upward mobility has become a fantasy, and the embattled middle classes are now more likely to sink into the working poor than to rise into the professional elite. At the same time, meritocracy now ensnares even those who manage to claw their way to the top, requiring rich adults to work with crushing intensity, exploiting their expensive educations in order to extract a return. All this is not the result of deviations or retreats from meritocracy but rather stems directly from meritocracy's successes.This is the radical argument that Daniel Markovits prosecutes with rare force. Markovits is well placed to expose the sham of meritocracy. Having spent his life at elite universities, he knows from the inside the corrosive system we are trapped within. Markovits also knows that, if we understand that meritocratic inequality produces near-universal harm, we can cure it. When The Meritocracy Trap reveals the inner workings of the meritocratic machine, it also illuminates the first steps outward, towards a new world that might once again afford dignity and prosperity to the American people.

    Brett Kavanaugh set his sights on the court right out of law school. Washington Post journalist and legal expert Ruth Marcus goes behind the scenes to document the inside story of how their supreme ambition triumphed. The Kavanaugh drama unfolded so fast in the summer of 2018 it seemed to come out of nowhere. With the power of the #MeToo movement behind her, a terrified but composed Christine Blasey Ford walked into a Senate hearing room to accuse Kavanaugh of sexual assault. This unleashed unprecedented fury from a Supreme Court nominee who accused Democrats of a “calculated and orchestrated political hit.” But behind this showdown was a much bigger one. In Supreme Ambition, Washington Post journalist and legal expert Ruth Marcus goes behind the scenes to document the thirty-year mission by conservatives to win a majority on the Supreme Court and the lifelong ambition of Brett Kavanaugh to secure his place in that victory. In that sense, Marcus has delivered a master class in how Washington works and an unforgettable case study in supreme ambition. The reporting in Supreme Ambition is also full of revealing and weighty headlines, as Marcus answers the most pressing questions surrounding this historical moment: How did Kavanaugh get the nomination? Was Blasey Ford’s testimony credible? What does his confirmation mean for the future of the court? Were the Democrats outgunned from the start? On the way, she uncovers secret White House meetings, intense lobbying efforts, private confrontations on Capitol Hill, and lives forever upended on both coasts. Supreme Ambition is a page-turner that traces how Brett Kavanaugh deftly maneuvered to become the nominee; how he quashed resistance from Republicans who worried he was too squishy on conservative issues and from a president reluctant to reward a George W. Bush loyalist. It shows a Republican party that had concluded Kavanaugh was too big to fail, with senators and the FBI ignoring potentially devastating evidence against him. And it paints a picture of Democratic leaders unwilling to engage in the no-holds-barred partisan warfare that might have defeated the nominee. In the tradition of The Brethren and The Power Broker, Supreme Ambition is the definitive account of a pivotal moment in modern history, one that was thirty years in the making and that will shape the judicial system of America for generations to come.

    Media freedom and judicial independence have eroded. The right to vote remains, but the right to have one’s vote counted fairly may not. Until the US presidential election of 2016, the global decline of democracy seemed a concern for other peoples in other lands. . . . That complacent optimism has been upended by the political rise of Donald Trump. The crisis is upon Americans, here and now."Quietly, steadily, Trump and his administration are damaging the tenets and accepted practices of American democracy, perhaps irrevocably. As he and his family enrich themselves, the presidency itself falls into the hands of the generals and financiers who surround him.While much of the country has been focused on Russia, David Frum has been collecting the lies, obfuscations, and flagrant disregard for the traditional limits placed on the office of the presidency. In Trumpocracy, he documents how Trump and his administration are steadily damaging the tenets and accepted practices of American democracy. During his own White House tenure as George W. Bush’s speechwriter, Frum witnessed the ways the presidency is limited not by law but by tradition, propriety, and public outcry, all now weakened. Whether the Trump presidency lasts two, four, or eight more years, he has changed the nature of the office for the worse, and likely for decades.In this powerful and eye-opening book, Frum makes clear that the hard work of recovery starts at home. Trumpocracy outlines how Trump could push America toward illiberalism, what the consequences could be for our nation and our everyday lives, and what we can do to prevent it.

    Increasingly, brands vie for our attention from insidious angles that target our emotional responses (scent, taste, sound, and touch). In an ever-faster, more competitive global landscape fueled both by the rise of cheaper, foreign brands and by so-called house-brands (the eponymous brands of Wal-Mart, Target, and the like), American companies are in a mad dash to keep up. Branding, or identity-making, has begun to replace the research and development of yore. From the fertile crescent of branding (Cincinnati), to the laboratories of sensory specialists (musicologists and "noses"), Lucas Conley takes us on a long-overdue journey through the strange culture that is our own. As hilarious as it is frightening, Conley's investigation into the phenomenon of rampant commercialism (often backed by little substance), offers an illuminating portrait of an age of obsession.

    Nobel Peace Prize winner, bestselling author, activist, and political icon, Al Gore has become one of the most respected and influential public intellectuals in America today. The Assault on Reason takes an unprecedented look at how faith in the power of reasonâ€"the idea that citizens can govern themselves through rational debate

    This fascinating history of the antitrust movement shows us what led to the present moment and offers achievable solutions to prevent monopolies, promote business competition, and encourage innovation.In a world where Google reportedly controls 90 percent of the search engine market and Big Pharma’s drug price hikes impact healthcare accessibility, monopolies can hurt consumers and cause marketplace stagnation. Klobuchar—the much-admired former candidate for president of the United States—argues for swift, sweeping reform in economic, legislative, social welfare, and human rights policies, and describes plans, ideas, and legislative proposals designed to strengthen antitrust laws and antitrust enforcement.Klobuchar writes of the historic and current fights against monopolies in America, from Standard Oil and the Sherman Anti-Trust Act to the Progressive Era's trust-busters; from the breakup of Ma Bell (formerly the world's biggest company and largest private telephone system) to the pricing monopoly of Big Pharma and the future of the giant tech companies like Facebook, Amazon, and Google.She begins with the Gilded Age (1870s-1900), when builders of fortunes and rapacious robber barons such as J. P. Morgan, John Rockefeller, and Cornelius Vanderbilt were reaping vast fortunes as industrialization swept across the American landscape, with the rich getting vastly richer and the poor, poorer. She discusses President Theodore Roosevelt, who, during the Progressive Era (1890s-1920), "busted" the trusts, breaking up monopolies; the Clayton Act of 1914; the Federal Trade Commission Act of 1914; and the Celler-Kefauver Act of 1950, which it strengthened the Clayton Act. She explores today's Big Pharma and its price-gouging; and tech, television, content, and agriculture communities and how a marketplace with few players, or one in which one company dominates distribution, can hurt consumer prices and stifle innovation.As the ranking member of the Senate Judiciary Subcommittee on Antitrust, Competition Policy, and Consumer Rights, Klobuchar provides a fascinating exploration of antitrust in America and offers a way forward to protect all Americans from the dangers of curtailed competition, and from vast information gathering, through monopolies.

    Grunwald’s meticulous reporting shows how the stimulus, though reviled on the right and the left, helped prevent a depression while jump-starting the president’s agenda for lasting change. As ambitious and far-reaching as FDR’s New Deal, the Recovery Act is a down payment on the nation’s economic and environmental future, the purest distillation of change in the Obama era. The stimulus has launched a transition to a clean-energy economy, doubled our renewable power, and financed unprecedented investments in energy efficiency, a smarter grid, electric cars, advanced biofuels, and green manufacturing. It is computerizing America’s pen-and-paper medical system. Its Race to the Top is the boldest education reform in U.S. history. It has put in place the biggest middle-class tax cuts in a generation, the largest research investments ever, and the most extensive infrastructure investments since Eisenhower’s interstate highway system. It includes the largest expansion of antipoverty programs since the Great Society, lifting millions of Americans above the poverty line, reducing homelessness, and modernizing unemployment insurance. Like the first New Deal, Obama’s stimulus has created legacies that last: the world’s largest wind and solar projects, a new battery industry, a fledgling high-speed rail network, and the world’s highest-speed Internet network. Michael Grunwald goes behind the scenes—sitting in on cabinet meetings, as well as recounting the secret strategy sessions where Republicans devised their resistance to Obama—to show how the stimulus was born, how it fueled a resurgence on the right, and how it is changing America. The New New Deal shatters the conventional Washington narrative and it will redefine the way Obama’s first term is perceived.

    Encounters like this occur thousands of times across the United States in nail salons increasingly owned and operated by Asian immigrants. This study looks closely for the first time at these intimate encounters, focusing on New York City, where such nail salons have become ubiquitous. Drawing from rich and compelling interviews, Miliann Kang takes us inside the nail industry, asking such questions as: Why have nail salons become so popular? Why do so many Asian women, and Korean women in particular, provide these services? Kang discovers multiple motivations for the manicure-from the pampering of white middle class women to the artistic self-expression of working class African American women to the mass consumption of body-related services. Contrary to notions of beauty service establishments as spaces for building community among women, The Managed Hand finds that while tentative and fragile solidarities can emerge across the manicure table, they generally give way to even more powerful divisions of race, class, and immigration.

    First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as self-evident." --Arthur SchopenhauerThe Ponzi Factor is the most comprehensive research ever compiled on the negative-sum nature of capital gains (non-dividend stocks). The book shows why, as a whole, ALL investors will lose money from buying and selling stocks.Most people don’t realize that profits from buying and selling stocks come from other investors who are also buying and selling stocks. When one investor buys low and sells high, another investor is also buying high and needs to sell for even higher. Companies like Google, Telsa, Facebook never pay their investors. Their investors’ profits are dependent on the inflow of money from new investors, which by definition, is how a Ponzi scheme works.This book is not for everyone. If you are a finance junkie who wants to rationalize why companies don’t have to pay their investors and believe a system that shuffles money between investor can magically create more money than people contribute, then this book is not for you. On the other hand, if you understand why we can’t create money by shuffling it with imaginary paper, and that investors invest because they want money, not value, then you will learn something you will never forget: The mechanics of how the stock market works and what really makes a stock price move.A stock without dividends is a Ponzi asset. It’s not how equity instruments were designed to work historically and not how ownership instruments are supposed to work logically. The Ponzi Factor is not a perspective or an opinion. It is a proof that is based on definition, logic, and it is supported by observable facts and history. This is not a story that will disappear after another market crash. It is an idea that will remain relevant for as long as the stock market exists.Lastly, to critics, the naysayer, and the finance junkies who think the imaginary value = cash. The author will award $20,000 to anyone who can show why non-dividend stocks DO NOT meet the definition of a Ponzi scheme. That’s $20,000 in cash, not value. (Details on this book's website. The Ponzi Factor. Proof by Definition.)