The Price of Civilization


Jeffrey D. Sachs - 2010
    Sachs has been at the forefront of international problem solving. But Sachs turns his attention back home in 'The Price of Civilization,' a book that is essential reading for every American. In a forceful, impassioned, and personal voice, he offers not only a searing and incisive diagnosis of our country's economic ills but also an urgent call for Americans to restore the virtue of fairness, honesty, and foresight as the foundations of national prosperity." Inside book cover comments.

Ill Fares the Land


Tony Judt - 2010
    Judt masterfully crystallizes what we’ve all been feeling into a way to think our way into, and thus out of, our great collective dis-ease about the current state of things.As the economic collapse of 2008 made clear, the social contract that defined postwar life in Europe and America – the guarantee of a basal level of security, stability and fairness -- is no longer guaranteed; in fact, it’s no longer part of the common discourse. Judt offers the language we need to address our common needs, rejecting the nihilistic individualism of the far right and the debunked socialism of the past. To find a way forward, we must look to our not so distant past and to social democracy in action: to re-enshrining fairness over mere efficiency.Distinctly absent from our national dialogue, social democrats believe that the state can play an enhanced role in our lives without threatening our liberties. Instead of placing blind faith in the market—as we have to our detriment for the past thirty years—social democrats entrust their fellow citizens and the state itself.Ill Fares the Land challenges us to confront our societal ills and to shoulder responsibility for the world we live in. For hope remains. In reintroducing alternatives to the status quo, Judt reinvigorates our political conversation, providing the tools necessary to imagine a new form of governance, a new way of life.

Arguing with Zombies: Economics, Politics, and the Fight for a Better Future


Paul Krugman - 2020
    Likewise, there is no stronger foe of zombie economics, the misunderstandings that just won’t die.In Arguing with Zombies, Krugman tackles many of these misunderstandings, taking stock of where the United States has come from and where it’s headed in a series of concise, digestible chapters. Drawn mainly from his popular New York Times column, they cover a wide range of issues, organized thematically and framed in the context of a wider debate. Explaining the complexities of health care, housing bubbles, tax reform, Social Security, and so much more with unrivaled clarity and precision, Arguing with Zombies is Krugman at the height of his powers.Arguing with Zombies puts Krugman at the front of the debate in the 2020 election year and is an indispensable guide to two decades’ worth of political and economic discourse in the United States and around the globe. With quick, vivid sketches, Krugman turns his readers into intelligent consumers of the daily news and hands them the keys to unlock the concepts behind the greatest economic policy issues of our time. In doing so, he delivers an instant classic that can serve as a reference point for this and future generations.

SuperFreakonomics: Global Cooling, Patriotic Prostitutes And Why Suicide Bombers Should Buy Life Insurance


Steven D. Levitt - 2009
    Now, Steven D. Levitt and Stephen J. Dubner return with SuperFreakonomics, and fans and newcomers alike will find that the freakquel is even bolder, funnier, and more surprising than the first.Four years in the making, SuperFreakonomics asks not only the tough questions, but the unexpected ones: What's more dangerous, driving drunk or walking drunk? Why is chemotherapy prescribed so often if it's so ineffective? Can a sex change boost your salary?SuperFreakonomics challenges the way we think all over again, exploring the hidden side of everything with such questions as:How is a street prostitute like a department-store Santa?Why are doctors so bad at washing their hands?How much good do car seats do?What's the best way to catch a terrorist?Did TV cause a rise in crime?What do hurricanes, heart attacks, and highway deaths have in common?Are people hard-wired for altruism or selfishness?Can eating kangaroo save the planet?Which adds more value: a pimp or a Realtor?Levitt and Dubner mix smart thinking and great storytelling like no one else, whether investigating a solution to global warming or explaining why the price of oral sex has fallen so drastically. By examining how people respond to incentives, they show the world for what it really is – good, bad, ugly, and, in the final analysis, super freaky.Freakonomics has been imitated many times over – but only now, with SuperFreakonomics, has it met its match.

Utopia for Realists: How We Can Build the Ideal World


Rutger Bregman - 2014
    A 15-hour workweek. Open borders. Does it sound too good to be true? One of Europe's leading young thinkers shows how we can build an ideal world today. "A more politically radical Malcolm Gladwell."—The New York Times After working all day at jobs we often dislike, we buy things we don't need. Rutger Bregman, a Dutch historian, reminds us it needn't be this way—and in some places it isn't. Rutger Bregman's TED Talk about universal basic income seemed impossibly radical when he delivered it in 2014. A quarter of a million views later, the subject of that video is being seriously considered by leading economists and government leaders the world over. It's just one of the many utopian ideas that Bregman proves is possible today. Utopia for Realists is one of those rare books that takes you by surprise and challenges what you think can happen. From a Canadian city that once completely eradicated poverty, to Richard Nixon's near implementation of a basic income for millions of Americans, Bregman takes us on a journey through history, and beyond the traditional left-right divides, as he champions ideas whose time have come. Every progressive milestone of civilization—from the end of slavery to the beginning of democracy—was once considered a utopian fantasy. Bregman's book, both challenging and bracing, demonstrates that new utopian ideas, like the elimination of poverty and the creation of the fifteen-hour workweek, can become a reality in our lifetime. Being unrealistic and unreasonable can in fact make the impossible inevitable, and it is the only way to build the ideal world.

Intellectuals and Society


Thomas Sowell - 2009
    It has not been by shaping the opinions or directing the actions of the holders of power that modern intellectuals have most influenced the course of events, but by shaping public opinion in ways that affect the actions of power holders in democratic societies, whether or not those power holders accept the general vision or the particular policies favored by intellectuals. Even government leaders with disdain or contempt for intellectuals have had to bend to the climate of opinion shaped by those intellectuals.Intellectuals and Society not only examines the track record of intellectuals in the things they have advocated but also analyzes the incentives and constraints under which their views and visions have emerged. One of the most surprising aspects of this study is how often intellectuals have been proved not only wrong, but grossly and disastrously wrong in their prescriptions for the ills of society—and how little their views have changed in response to empirical evidence of the disasters entailed by those views.

The New Empire of Debt


William Bonner - 2009
    Along the way, Bonner and Wiggin cast a wide angle lens that looks back in history and ahead to the coming century: showing how dramatic changes in the economic power of the United States will inevitably impact every American.Reveals the financial realities the United States currently faces and what the ultimate outcome may be Weaves together the worlds of politics, economics, and personal finance in a way that underscores the severity of the situation Addresses the events leading up to the implosion of the U.S. financial system Looks ahead to help you avoid the pitfalls presented by a weaker United States Other titles by Bonner: Empire of Debt, Financial Reckoning Day, and Mobs, Messiahs, and MarketsOther titles by Wiggin: I.O.U.S.A., Demise of the Dollar, and Financial Reckoning DayThe United States is heading down a difficult path. The New Empire of Debt clearly shows how this has happened and discusses what you can do to overcome the financial challenges that will arise as the situation deteriorates.

Freefall: America, Free Markets, and the Sinking of the World Economy


Joseph E. Stiglitz - 2010
    Stiglitz explains the current financial crisis—and the coming global economic order. The current global financial crisis carries a “made-in-America” label. In this forthright and incisive book, Nobel Laureate Joseph E. Stiglitz explains how America exported bad economics, bad policies, and bad behavior to the rest of the world, only to cobble together a haphazard and ineffective response when the markets finally seized up. Drawing on his academic expertise, his years spent shaping policy in the Clinton administration and at the World Bank, and his more recent role as head of a UN commission charged with reforming the global financial system, Stiglitz outlines a way forward building on ideas that he has championed his entire career: restoring the balance between markets and government, addressing the inequalities of the global financial system, and demanding more good ideas (and less ideology) from economists. Freefall is an instant classic, combining an enthralling whodunit account of the current crisis with a bracing discussion of the broader economic issues at stake.

Free Lunch: How the Wealthiest Americans Enrich Themselves at Government Expense (and Stick You with the Bill)


David Cay Johnston - 2007
    From how George W. Bush got rich off a tax increase to a $100 million taxpayer gift to Warren Buffett, Johnston puts a face on all of the dirty little tricks that business and government pull. A lot of people appear to be getting free lunches—but of course there’s no such thing as a free lunch, and someone (you, the taxpayer) is picking up the bill.Johnston’s many revelations include:• How we ended up with the most expensive yet inefficient health-care system in the world.• How homeowners? title insurance became a costly, deceitful, yet almost invisible oligopoly.• How our government gives hidden subsidies for posh golf courses.• How Paris Hilton’s grandfather schemed to retake the family fortune from a charity for poor children.• How the Yankees and Mets owners will collect more than $1.3 billion in public funds.In these instances and many more, Free Lunch shows how the lobbyists and lawyers representing the most powerful 0.1 percent of Americans manipulated our government at the expense of the other 99.9 percent.With his extraordinary reporting, vivid stories, and sharp analysis, Johnston reveals the forces that shape our everyday economic lives—and shows us how we can finally make things better.

Post Corona: From Crisis to Opportunity


Scott Galloway - 2020
    Some businesses--like home exercise company Peloton, video conference software maker Zoom, and Amazon--woke up to find themselves crushed under an avalanche of consumer demand. Others--like the restaurant, travel, hospitality, and live entertainment industries--scrambled to escape obliteration.But as Scott Galloway argues, the pandemic has not been a change agent so much as an accelerant of trends already well underway. In Post Corona, he outlines the contours of the crisis and the opportunities that lie ahead. Some businesses, like the powerful tech monopolies, will thrive as a result of the disruption. Other industries, like higher education, will struggle to maintain a value proposition that no longer makes sense when we can't stand shoulder to shoulder. And the pandemic has accelerated deeper trends in government and society, exposing a widening gap between our vision of America as a land of opportunity, and the troubling realities of our declining wellbeing.Combining his signature humor and brash style with sharp business insights and the occasional dose of righteous anger, Galloway offers both warning and hope in equal measure. As he writes, Our commonwealth didn't just happen, it was shaped. We chose this path--no trend is permanent and can't be made worse or corrected.

The Third Pillar: How Markets and the State Leave the Community Behind


Raghuram G. Rajan - 2019
    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.

Winners Take All: The Elite Charade of Changing the World


Anand Giridharadas - 2018
    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.

Extraordinary Popular Delusions and the Madness of Crowds


Charles Mackay - 1841
    This Harriman House edition includes Charles Mackay's account of the three infamous financial manias - John Law's Mississipi Scheme, the South Sea Bubble, and Tulipomania.Between the three of them, these historic episodes confirm that greed and fear have always been the driving forces of financial markets, and, furthermore, that being sensible and clever is no defence against the mesmeric allure of a popular craze with the wind behind it.In writing the history of the great financial manias, Charles Mackay proved himself a master chronicler of social as well as financial history. Blessed with a cast of characters that covered all the vices, gifted a passage of events which was inevitably heading for disaster, and with the benefit of hindsight, he produced a record that is at once a riveting thriller and absorbing historical document. A century and a half later, it is as vibrant and lurid as the day it was written.For modern-day investors, still reeling from the dotcom crash, the moral of the popular manias scarcely needs spelling out. When the next stock market bubble comes along, as it surely will, you are advised to recall the plight of some of the unfortunates on these pages, and avoid getting dragged under the wheels of the careering bandwagon yourself.

Griftopia: Bubble Machines, Vampire Squids, and the Long Con That Is Breaking America


Matt Taibbi - 2010
    The stunning rise, fall, and rescue of Wall Street in the bubble-and-bailout era was the coming-out party for the network of looters who sit at the nexus of American political and economic power. The grifter class—made up of the largest players in the financial industry and the politicians who do their bidding—has been growing in power for a generation, transferring wealth upward through increasingly complex financial mechanisms and political maneuvers. The crisis was only one terrifying manifestation of how they’ve hijacked America’s political and economic life.Rolling Stone’s Matt Taibbi here unravels the whole fiendish story, digging beyond the headlines to get into the deeper roots and wider implications of the rise of the grifters. He traces the movement’s origins to the cult of Ayn Rand and her most influential—and possibly weirdest—acolyte, Alan Greenspan, and offers fresh reporting on the backroom deals that decided the winners and losers in the government bailouts. He uncovers the hidden commodities bubble that transferred billions of dollars to Wall Street while creating food shortages around the world, and he shows how finance dominates politics, from the story of investment bankers auctioning off America’s infrastructure to an inside account of the high-stakes battle for health-care reform—a battle the true reformers lost. Finally, he tells the story of Goldman Sachs, the “vampire squid wrapped around the face of humanity.” Taibbi has combined deep sources, trailblazing reportage, and provocative analysis to create the most lucid, emotionally galvanizing, and scathingly funny account yet written of the ongoing political and financial crisis in America. This is essential reading for anyone who wants to understand the labyrinthine inner workings of politics and finance in this country, and the profound consequences for us all.

Plutocrats: The Rise of the New Global Super Rich and the Fall of Everyone Else


Chrystia Freeland - 2012
    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.