Ferguson, who electrified the world with his Oscar-winning documentary Inside Job , now explains how a predator elite took over the country, step by step, and he exposes the networks of academic, financial, and political influence, in all recent administrations, that prepared the predators’ path to conquest.       Over the last several decades, the United States has undergone one of the most radical social and economic transformations in its history.  ·         Finance has become America’s dominant industry, while manufacturing, even for high technology industries, has nearly disappeared. ·         The financial sector has become increasingly criminalized, with the widespread fraud that caused the housing bubble going completely unpunished. ·         Federal tax collections as a share of GDP are at their lowest level in sixty years, with the wealthy and highly profitable corporations enjoying the greatest tax reductions. ·         Most shockingly, the United States, so long the beacon of opportunity for the ambitious poor, has become one of the world’s most unequal and unfair societies.  If you’re smart and a hard worker, but your parents aren’t rich, you’re now better off being born in Munich, Germany or in Singapore than in Cleveland, Ohio or New York. This radical shift did not happen by accident.       Ferguson shows how, since the Reagan administration in the 1980s, both major political parties have become captives of the moneyed elite.  It was the Clinton administration that dismantled the regulatory controls that protected the average citizen from avaricious financiers.  It was the Bush team that destroyed the federal revenue base with its grotesquely skewed tax cuts for the rich. And it is the Obama White House that has allowed financial criminals to continue to operate unchecked, even after supposed “reforms” installed after the collapse of 2008.      Predator Nation reveals how once-revered figures like Alan Greenspan and Larry Summers became mere courtiers to the elite.  Based on many newly released court filings, it details the extent of the crimes—there is no other word—committed in the frenzied chase for wealth that caused the financial crisis.  And, finally, it lays out a plan of action for how we might take back our country and the American dream.

    Now, in Slapped by the Invisible Hand, Gorton builds upon this seminal work, explaining how the securitized-banking system, the nexus of financial markets and instruments unknown to most people, stands at the heart of the financial crisis.Gorton shows that the Panic of 2007 was not so different from the Panics of 1907 or of 1893, except that, in 2007, most people had never heard of the markets that were involved, didn't know how they worked, or what their purposes were. Terms like subprime mortgage, asset-backed commercial paper conduit, structured investment vehicle, credit derivative, securitization, or repo market were meaningless. In this superb volume, Gorton makes all of this crystal clear. He shows that the securitized banking system is, in fact, a real banking system, allowing institutional investors and firms to make enormous, short-term deposits. But as any banking system, it was vulnerable to a panic. Indeed the events starting in August 2007 can best be understood not as a retail panic involving individuals, but as a wholesale panic involving institutions, where large financial firms "ran" on other financial firms, making the system insolvent.An authority on banking panics, Gorton is the ideal person to explain the financial calamity of 2007. Indeed, as the crisis unfolded, he was working inside an institution that played a central role in the collapse. Thus, this book presents the unparalleled and invaluable perspective of a top scholar who was also a key insider.

    We are republishing these classic works in affordable, high quality, modern editions, using the original text and artwork.

    The Seven Deadly Virtues sits down next to readers at the bar, buys them a drink, and an hour or three later, ushers them into the revival tent without them even realizing it.   The book’s contributors include Sonny Bunch, Christopher Buckley, David “Iowahawk” Burge, Christopher Caldwell, Andrew Ferguson, Jonah Goldberg, Michael Graham, Mollie Hemingway, Rita Koganzon, Matt Labash, James Lileks, Rob Long, Larry Miller, P. J. O’Rourke, Joe Queenan, Christine Rosen, and Andrew Stiles. Jonathan V. Last, senior writer at the Weekly Standard, editor of the collection, is also a contributor. All eighteen essays in this book are appearing for the first time anywhere.   In the book’s opening essay, P. J. O’Rourke observes: “Virtue has by no means disappeared. It’s as much in public view as ever. But it’s been strung up by the heels. Virtue is upside down. Virtue is uncomfortable. Virtue looks ridiculous. All the change and the house keys are falling out of Virtue’s pants pockets.”   Here are the virtues everyone (including the book’s contributors) was taught in Sunday school but have totally forgotten about until this very moment.  In this sanctimony-free zone:   • Joe Queenan observes: “In essence, thrift is a virtue that resembles being very good at Mahjong. You’ve heard about people who can do it, but you’ve never actually met any of them.” • P. J. O’Rourke notes: “Fortitude is quaint. We praise the greatest generation for having it, but they had aluminum siding, church on Sunday, and jobs that required them to wear neckties or nylons (but never at the same time). We don’t want those either.” • Christine Rosen writes: “A fellowship grounded in sociality means enjoying the company of those with whom you actually share physical space rather than those with whom you regularly and enthusiastically exchange cat videos.” • Rob Long offers his version of modern day justice: if you sleep late on the weekend, you are forced to wait thirty minutes in line at Costco. • Jonah Goldberg offers: “There was a time when this desire-to-do-good-in-all-things was considered the only kind of integrity: ‘Angels are better than mortals. They’re always certain about what is right because, by definition, they’re doing God’s will.’ Gabriel knew when it was okay to remove a mattress tag and Sandalphon always tipped the correct amount.” • Sonny Bunch dissects forbearance, observing that the fictional Two Minutes Hate of George Orwell’s 1984 is now actually a reality directed at living, breathing people. Thanks, in part, to the Internet, “Its targets are designated by a spontaneously created mob—one that, due to its hive-mind nature—is virtually impossible to call off.”   By the time readers have completed The Seven Deadly Virtues, they won’t even realize that they’ve just been catechized into an entirely different—and better—moral universe.

    With his inimitable ability to translate complex foreign policy and economic issues, Friedman explains how the flattening of the world happened at the dawn of the 21st century; what it means to countries, companies, communities and individuals; and how governments and societies can, and must, adapt.

    Joel Mokyr shows that we cannot understand the Industrial Revolution without recognizing the importance of the intellectual sea changes of Britain’s Age of Enlightenment. In a vigorous discussion, Mokyr goes beyond the standard explanations that credit  geographical factors, the role of markets, politics, and society to show that the beginnings of modern economic growth in Britain depended a great deal on what key players knew and believed, and how those beliefs affected their economic behavior. He argues that Britain led the rest of Europe into the Industrial Revolution because it was there that the optimal intersection of ideas, culture, institutions, and technology existed to make rapid economic growth achievable. His wide-ranging evidence covers sectors of the British economy often neglected, such as the service industries.

    is so guilty for past transgressions that it deserves to be chastened on the world stage. As David Horowitz shows in this no holds barred pamphlet, minimizing the Islamist threat to the United States is not an oversight of the Obama administration; it is policy. The most dangerous Islamist regime, Iran, is being allowed to acquire nuclear weapons while Washington dithers over pointless negotiations and stands by as the mullahs fill the vacuum in Iraq created by the withdrawal of all American forces, against the advice of the Joint Chiefs of Staff. In Afghanistan, supposedly the "good war," victory is not an option; the Taliban licks its chops and waits for American troops to leave in ignominy. Meanwhile, this White House has facilitated the rise of the Muslim Brotherhood throughout the Middle East, helping it come to power in Cairo, bankrolling it and giving it F-16s that are likely someday to be used against Israel, and displayed weakness in Syria by ignoring "red lines" it said would never be crossed. It is a low point for America, as David Horowitz shows, with Republicans, traditionally the party of strong national security, offering only an echo, not a choice in American foreign policy, watching in a state of policy paralysis as Obama appeases our enemies and enables their evil ambitions.

    It is also one of the most contentious issues of our time. While it may have made goods less expensive, it has also sent massive flows of money across borders and shaken the global balance of power. Outside the Box offers a fresh and lively history of globalization, showing how it has evolved over two centuries in response to changes in demographics, technology, and consumer tastes.Marc Levinson, the acclaimed author of The Box, tells the story of globalization through the people who eliminated barriers and pursued new ways of doing business. He shows how the nature of globalization changed dramatically in the 1980s with the creation of long-distance value chains. This new type of economic relationship shifted manufacturing to Asia, destroying millions of jobs and devastating industrial centers in North America, Europe, and Japan. Levinson describes how improvements in transportation, communications, and computing made international value chains possible, but how globalization was taken too far because of large government subsidies and the systematic misjudgment of risk by businesses. As companies began to account properly for the risks of globalization, cross-border investment fell sharply and foreign trade lagged long before Donald Trump became president and the coronavirus disrupted business around the world.In Outside the Box, Levinson explains that globalization is entering a new era in which moving stuff will matter much less than moving services, information, and ideas.

    NEW.

    In a year that sees a Scottish referendum on independence, Linda Colley analyses some of the forces that have unified Britain in the past.She examines the mythology of Britishness, and how far - and why - it has faded. She discusses the Acts of Union with Wales, Scotland and Ireland, and their limitations, while scrutinizing England's own fractures. And she demonstrates how the UK has been shaped by movement: of British people to other countries and continents, and of people, ideas and influences arriving from elsewhere.As acts of union and disunion again become increasingly relevant to our daily lives and politics, Colley considers how - if at all - the pieces might be put together anew, and what this might mean.Based on a 15-part BBC Radio 4 series.

    Trillions of dollars of financial assets and shareholder value destroyed; worldwide GDP stalled; new jobs vanishingly scarce. But this isn’t just a severe recession. It’s evidence that our economic institutions are obsolete—a set of ideas inherited from the industrial age that no longer work for business, people, society, or the future.In The New Capitalist Manifesto, economic strategist Umair Haque argues that business as usual has outgrown the old paradigm of short-term growth, competition at all costs, adversarial strategy, and pushing costs onto future generations. These outworn assumptions are good for creating only “thin” value—gains that are largely illusory and produce diminishing returns every year. For “thick” value—enduring, meaningful, sustainable advantage that deeply benefits the larger society—Haque details five new cornerstones of prosperity in the twenty-first century:•Loss advantage: From value chains to value cycles•Responsiveness: From value propositions to value conversations•Resilience: From strategy to philosophy•Creativity: From protecting a marketplace to completing a marketplace•Difference: From goods to bettersThe New Capitalist Manifesto makes a passionate, razor-sharp economic case that these methods will produce a more enduring prosperity for business as well as society.

    Bernanke was appointed chair of the Federal Reserve, the unexpected apex of a personal journey from small-town South Carolina to prestigious academic appointments and finally public service in Washington’s halls of power.There would be no time to celebrate.The bursting of a housing bubble in 2007 exposed the hidden vulnerabilities of the global financial system, bringing it to the brink of meltdown. From the implosion of the investment bank Bear Stearns to the unprecedented bailout of insurance giant AIG, efforts to arrest the financial contagion consumed Bernanke and his team at the Fed. Around the clock, they fought the crisis with every tool at their disposal to keep the United States and world economies afloat.Working with two U.S. presidents, and under fire from a fractious Congress and a public incensed by behavior on Wall Street, the Fed—alongside colleagues in the Treasury Department—successfully stabilized a teetering financial system. With creativity and decisiveness, they prevented an economic collapse of unimaginable scale and went on to craft the unorthodox programs that would help revive the U.S. economy and become the model for other countries.Rich with detail of the decision-making process in Washington and indelible portraits of the major players, The Courage to Act recounts and explains the worst financial crisis and economic slump in America since the Great Depression, providing an insider’s account of the policy response.

    The tipping point, Mirbat, South Oman, 19 July 1972 is one of the least-known yet most crucial battles of modern times. If the SAS had been defeated at Mirbat, the Russian and Chinese plan for a communist foothold in the Middle East would have succeeded, with catastrophic consequences for the oil-hungry West. OPERATION STORM is a page-turning account of courage and resilience. Mirbat was a battle fought and won by nine SAS soldiers and a similar number of brave local people - some as young as ten years old - outnumbered by at least twenty-five to one. Roger Cole, one of the SAS soldiers who took part, and writer Richard Belfield have interviewed every SAS survivor who fought in the battle from the beginning to the end - the first time every single one of them has revealed their experience. OPERATION STORM is a classic story of bravery against impossible odds, minute by minute, bullet by bullet.

    Eminent Canadian law professor and legal theorist Joel Bakan contends that today's corporation is a pathological institution, a dangerous possessor of the great power it wields over people and societies.In this revolutionary assessment of the history, character, and globalization of the modern business corporation, Bakan backs his premise with the following observations:-The corporation’s legally defined mandate is to pursue relentlessly and without exception its own economic self-interest, regardless of the harmful consequences it might cause to others. -The corporation’s unbridled self-interest victimizes individuals, society, and, when it goes awry, even shareholders and can cause corporations to self-destruct, as recent Wall Street scandals reveal. -Governments have freed the corporation, despite its flawed character, from legal constraints through deregulation and granted it ever greater authority over society through privatization.But Bakan believes change is possible and he outlines a far-reaching program of achievable reforms through legal regulation and democratic control.Featuring in-depth interviews with such wide-ranging figures as Nobel Prize winner Milton Friedman, business guru Peter Drucker, and cultural critic Noam Chomsky, The Corporation is an extraordinary work that will educate and enlighten students, CEOs, whistle-blowers, power brokers, pawns, pundits, and politicians alike.

    The Capital Group is one of the world's largest investment management organizations, but little is known about it because the company has shunned any type of publicity. This compelling book, for the first time, takes you inside one of the most elite and private investment firms out there?the Capital Group Companies?a value investment firm par excellence. It digs deeps to reveal the corporate culture and long-term investment strategies that have made Capital the one organization where most investment professionals would like to work and would most recommend as long-term investment managers for their family and friends.