The core issue at the heart of strategy, the author notes, is whether it is possible to manipulate and shape our environment rather than simply become the victim of forces beyond one's control. Time and again, Freedman demonstrates that the inherent unpredictability of this environment-subject to chance events, the efforts of opponents, the missteps of friends-provides strategy with its challenge and its drama. Armies or corporations or nations rarely move from one predictable state of affairs to another, but instead feel their way through a series of states, each one not quite what was anticipated, requiring a reappraisal of the original strategy, including its ultimate objective. Thus the picture of strategy that emerges in this book is one that is fluid and flexible, governed by the starting point, not the end point.A brilliant overview of the most prominent strategic theories in history, from David's use of deception against Goliath, to the modern use of game theory in economics, this masterful volume sums up a lifetime of reflection on strategy.

    Using a rich array of historical examples and data, Shiller argues that studying popular stories that affect individual and collective economic behavior--what he calls narrative economics--has the potential to vastly improve our ability to predict, prepare for, and lessen the damage of financial crises, recessions, depressions, and other major economic events.Spread through the public in the form of popular stories, ideas can go viral and move markets--whether it's the belief that tech stocks can only go up, that housing prices never fall, or that some firms are too big to fail. Whether true or false, stories like these--transmitted by word of mouth, by the news media, and increasingly by social media--drive the economy by driving our decisions about how and where to invest, how much to spend and save, and more. But despite the obvious importance of such stories, most economists have paid little attention to them. Narrative Economics sets out to change that by laying the foundation for a way of understanding how stories help propel economic events that have had led to war, mass unemployment, and increased inequality.The stories people tell--about economic confidence or panic, housing booms, the American dream, or Bitcoin--affect economic outcomes. Narrative Economics explains how we can begin to take these stories seriously. It may be Robert Shiller's most important book to date.

    Veblen's The Theory of the Leisure Class is in the tradition of Adam Smith's The Wealth of Nations and Thomas Hobbes's Leviathan, yet it provides a surprisingly contemporary look at American economics and society.Establishing such terms as "conspicuous consumption" and "pecuniary emulation," Veblen's most famous work has become an archetype not only of economic theory, but of historical and sociological thought as well. As sociologist Alan Wolfe writes in his Introduction, Veblen "skillfully . . . wrote a book that will be read so long as the rich are different from the rest of us; which, if the future is anything like the past, they always will be."

    This is economist Bryan Caplan's sobering assessment in this provocative and eye-opening book. Caplan argues that voters continually elect politicians who either share their biases or else pretend to, resulting in bad policies winning again and again by popular demand.Boldly calling into question our most basic assumptions about American politics, Caplan contends that democracy fails precisely because it does what voters want. Through an analysis of Americans' voting behavior and opinions on a range of economic issues, he makes the convincing case that noneconomists suffer from four prevailing biases: they underestimate the wisdom of the market mechanism, distrust foreigners, undervalue the benefits of conserving labor, and pessimistically believe the economy is going from bad to worse. Caplan lays out several bold ways to make democratic government work better--for example, urging economic educators to focus on correcting popular misconceptions and recommending that democracies do less and let markets take up the slack.The Myth of the Rational Voter takes an unflinching look at how people who vote under the influence of false beliefs ultimately end up with government that delivers lousy results. With the upcoming presidential election season drawing nearer, this thought-provoking book is sure to spark a long-overdue reappraisal of our elective system.

    (Marginal cost is the cost of producing additional units of a good or service, if fixed costs are not counted.) While economists have always welcomed a reduction in marginal cost, they never anticipated the possibility of a technological revolution that might bring marginal costs to near zero, making goods and services priceless, nearly free, and abundant, and no longer subject to market forces.Now, a formidable new technology infrastructure—the Internet of things (IoT)—is emerging with the potential of pushing large segments of economic life to near zero marginal cost in the years ahead. Rifkin describes how the Communication Internet is converging with a nascent Energy Internet and Logistics Internet to create a new technology platform that connects everything and everyone. Billions of sensors are being attached to natural resources, production lines, the electricity grid, logistics networks, recycling flows, and implanted in homes, offices, stores, vehicles, and even human beings, feeding Big Data into an IoT global neural network. Prosumers can connect to the network and use Big Data, analytics, and algorithms to accelerate efficiency, dramatically increase productivity, and lower the marginal cost of producing and sharing a wide range of products and services to near zero, just like they now do with information goods.The plummeting of marginal costs is spawning a hybrid economy—part capitalist market and part Collaborative Commons—with far reaching implications for society, according to Rifkin. Hundreds of millions of people are already transferring parts of their economic lives to the global Collaborative Commons. Prosumers are plugging into the fledgling IoT and making and sharing their own information, entertainment, green energy, and 3D-printed products at near zero marginal cost. They are also sharing cars, homes, clothes and other items via social media sites, rentals, redistribution clubs, and cooperatives at low or near zero marginal cost. Students are enrolling in free massive open online courses (MOOCs) that operate at near zero marginal cost. Social entrepreneurs are even bypassing the banking establishment and using crowdfunding to finance startup businesses as well as creating alternative currencies in the fledgling sharing economy. In this new world, social capital is as important as financial capital, access trumps ownership, sustainability supersedes consumerism, cooperation ousts competition, and "exchange value" in the capitalist marketplace is increasingly replaced by "sharable value" on the Collaborative Commons.Rifkin concludes that capitalism will remain with us, albeit in an increasingly streamlined role, primarily as an aggregator of network services and solutions, allowing it to flourish as a powerful niche player in the coming era. We are, however, says Rifkin, entering a world beyond markets where we are learning how to live together in an increasingly interdependent global Collaborative Commons.

    But in the advanced economies there is mounting evidence that ever-increasing consumption adds little to human happiness and may even impede it. More urgently, it is now clear that the ecosystems that sustain our economies are collapsing under the impacts of rising consumption. Unless we can radically lower the environmental impact of economic activity - and there is no evidence to suggest that we can - we will have to devise a path to prosperity that does not rely on continued growth.Economic heresy? Or an opportunity to improve the sources of well-being, creativity and lasting prosperity that lie outside the realm of the market? Tim Jackson provides a credible vision of how human society can flourish �1/2 within the ecological limits of a finite planet. Fulfilling this vision is simply the most urgent task of our times.This book is a substantially revised and updated version of Jackson's controversial study for the Sustainable Development Commission, an advisory body to the UK Government. The study rapidly became the most downloaded report in the Commission's nine year history when it was launched earlier this year.

    Drawing from these practical, commonsense notions, The Cost of Rights provides a useful corrective to the all-or-nothing feel of much political debate nowadays (The Economist).

    Plantation owners, shipbuilders, and merchants connected with the slave trade accumulated vast fortunes that established banks and heavy industry in Europe and expanded the reach of capitalism worldwide.Eric Williams advanced these powerful ideas in Capitalism and Slavery, published in 1944. Years ahead of its time, his profound critique became the foundation for studies of imperialism and economic development.Binding an economic view of history with strong moral argument, Williams's study of the role of slavery in financing the Industrial Revolution refuted traditional ideas of economic and moral progress and firmly established the centrality of the African slave trade in European economic development. He also showed that mature industrial capitalism in turn helped destroy the slave system. Establishing the exploitation of commercial capitalism and its link to racial attitudes, Williams employed a historicist vision that set the tone for future studies.In a new introduction, Colin Palmer assesses the lasting impact of Williams's groundbreaking work and analyzes the heated scholarly debates it generated when it first appeared.

    Their results shocked the world and created stirring conversation about global 'overshoot,' or resource use beyond the carrying capacity of the planet. Now, preeminent environmental scientists Donnella Meadows, Jorgen Randers, and Dennis Meadows have teamed up again to update and expand their original findings in The Limits to Growth: The 30 Year Global Update.Meadows, Randers, and Meadows are international environmental leaders recognized for their groundbreaking research into early signs of wear on the planet. Citing climate change as the most tangible example of our current overshoot, the scientists now provide us with an updated scenario and a plan to reduce our needs to meet the carrying capacity of the planet.Over the past three decades, population growth and global warming have forged on with a striking semblance to the scenarios laid out by the World3 computer model in the original Limits to Growth. While Meadows, Randers, and Meadows do not make a practice of predicting future environmental degradation, they offer an analysis of present and future trends in resource use, and assess a variety of possible outcomes.In many ways, the message contained in Limits to Growth: The 30-Year Update is a warning. Overshoot cannot be sustained without collapse. But, as the authors are careful to point out, there is reason to believe that humanity can still reverse some of its damage to Earth if it takes appropriate measures to reduce inefficiency and waste.Written in refreshingly accessible prose, Limits to Growth: The 30-Year Update is a long anticipated revival of some of the original voices in the growing chorus of sustainability. Limits to Growth: The 30 Year Update is a work of stunning intelligence that will expose for humanity the hazy but critical line between human growth and human development.

    It is divided by subject area into 4 sections for ease of navigation, and then sub-divided into chapters, each of which has been specifically written for this book.Carefully edited by John Ravenhill, the text reads as an integrated whole and is suitable as an introductory text for undergraduates in both coverage and approach, each chapter making full use of learning aids such as boxes to summarize key terms and debates, chronologies, case studies, web links and further reading, which complement the lively presentation of the subject.

    We see how they rebrand themselves as saviors of the poor; how they lavishly reward "thought leaders" who redefine "change" in winner-friendly ways; and how they constantly seek to do more good, but never less harm. We hear the limousine confessions of a celebrated foundation boss; witness an American president hem and haw about his plutocratic benefactors; and attend a cruise-ship conference where entrepreneurs celebrate their own self-interested magnanimity.Giridharadas asks hard questions: Why, for example, should our gravest problems be solved by the unelected upper crust instead of the public institutions it erodes by lobbying and dodging taxes? He also points toward an answer: Rather than rely on scraps from the winners, we must take on the grueling democratic work of building more robust, egalitarian institutions and truly changing the world. A call to action for elites and everyday citizens alike.

    Now, in The Great Wave, Fischer has done it again, marshaling an astonishing array of historical facts in lucid and compelling prose to outline a history of prices--"the history of change," as Fischer puts it--covering the dazzling sweep of Western history from the medieval glory of Chartres to the modern day. Going far beyond the economic data, Fischer writes a powerful history of the people of the Western world: the economic patterns they lived in, and the politics, culture, and society that they created as a result. As he did in Albion's Seed and Paul Revere's Ride, two of the most talked-about history books in recent years, Fischer combines extensive research and meticulous scholarship with wonderfully evocative writing to create a book for scholars and general readers alike.Records of prices are more abundant than any other quantifiable data, and span the entire range of history, from tables of medieval grain prices to the overabundance of modern statistics. Fischer studies this wealth of data, creating a narrative that encompasses all of Western culture. He describes four waves of price revolutions, each beginning in a period of equilibrium: the High Middle Ages, the Renaissance, the Enlightenment, and finally the Victorian Age. Each revolution is marked by continuing inflation, a widening gap between rich and poor, increasing instability, and finally a crisis at the crest of the wave that is characterized by demographic contraction, social and political upheaval, and economic collapse. The most violent of these climaxes was the catastrophic fourteenth century, in which war, famine, and the Black Death devastated the continent--the only time in Europe's history that the population actually declined.Fischer also brilliantly illuminates how these long economic waves are closely intertwined with social and political events, affecting the very mindset of the people caught in them. The long periods of equilibrium are marked by cultural and intellectual movements--such as the Renaissance, the Enlightenment, and the Victorian Age-- based on a belief in order and harmony and in the triumph of progress and reason. By contrast, the years of price revolution created a melancholy culture of despair.Fischer suggests that we are living now in the last stages of a price revolution that has been building since the turn of the century. The destabilizing price surges and declines and the diminished expectations the United States has suffered in recent years--and the famines and wars of other areas of the globe--are typical of the crest of a price revolution. He does not attempt to predict what will happen, noting that "uncertainty about the future is an inexorable fact of our condition." Rather, he ends with a brilliant analysis of where we might go from here and what our choices are now. This book is essential reading for anyone concerned about the state of the world today.

    No one has bettered Keynes's description of the psychology of investors during a financial crisis: 'The practice of calmness and immobility, of certainty and security, suddenly breaks down. New fears and hopes will, without warning, take charge of human conduct... the market will be subject to waves of optimistic and pessimistic sentiment.' Keynes's preeminent biographer, Robert Skidelsky, Emeritus Professor of Political Economy at the University of Warwick, brilliantly synthesizes from Keynes's career and life the aspects of his thinking that apply most directly to the world we currently live in. In so doing, Skidelsky shows that Keynes's mixture of pragmatism and realism - which distinguished his thinking from the neo-classical or Chicago school of economics that has been the dominant influence since the Thatcher-Reagan era and which made possible the raw market capitalism that created the current global financial crisis - is more pertinent and applicable than ever. Crucially Keynes offers nervous capitalists - and Keynes never wavered in his belief in the capitalist system - a positive answer to the question we now face: When unbridled capitalism falters, is there an alternative? "In the long run," as Keynes famously said, "we are all dead." We may not have time to wait for the perfect theoretical operation of capital as the neo-classicists insist will happen eventually. In the meantime, we have Keynes: more supple, more human and more magnificently real than ever.

    Turchin argues that the key to the formation of an empire is a society’s capacity for collective action. He demonstrates that high levels of cooperation are found where people have to band together to fight off a common enemy, and that this kind of cooperation led to the formation of the Roman and Russian empires, and the United States. But as empires grow, the rich get richer and the poor get poorer, conflict replaces cooperation, and dissolution inevitably follows. Eloquently argued and rich with historical examples, War and Peace and War offers a bold new theory about the course of world history.

    E.P. Thompson shows how the working class took part in its own making & recreates the whole life experience of people who suffered loss of status & freedom, who underwent degradation & who yet created a culture & political consciousness of great vitality. "Thompson's book has been called controversial, but perhaps only because so many have forgotten how explosive England was during the Regency & the early reign of Victoria. Without any reservation, The Making of the English Working Class is the most important study of those days since the classic work of the Hammonds."--Commentary "Mr Thompson's deeply human imagination & controlled passion help us to recapture the agonies, heroisms & illusions of the working class as it made itself. No one interested in the history of the English people should fail to read his book."--Times Literary Supplement