Defining folly as the pursuit by governments of policies contrary to their own interests, despite the availability of feasible alternatives, Tuchman details four decisive turning points in history that illustrate the very heights of folly in government: the Trojan War, the breakup of the Holy See provoked by Renaissance Popes, the loss of the American colonies by Britain's George III & the USA's persistent folly in Vietnam. THE MARCH OF FOLLY brings the people, places & events of history alive for today's reader.

    Federal Reserve, gave a series of lectures about the Federal Reserve and the 2008 financial crisis, as part of a course at George Washington University on the role of the Federal Reserve in the economy. In this unusual event, Bernanke revealed important background and insights into the central bank's crucial actions during the worst financial crisis since the Great Depression. Taken directly from these historic talks, The Federal Reserve and the Financial Crisis offers insight into the guiding principles behind the Fed's activities and the lessons to be learned from its handling of recent economic challenges.Bernanke traces the origins of the Federal Reserve, from its inception in 1914 through the Second World War, and he looks at the Fed post-1945, when it began operating independently from other governmental departments such as the Treasury. During this time the Fed grappled with episodes of high inflation, finally tamed by then-chairman Paul Volcker. Bernanke also explores the period under his predecessor, Alan Greenspan, known as the Great Moderation. Bernanke then delves into the Fed's reaction to the recent financial crisis, focusing on the central bank's role as the lender of last resort and discussing efforts that injected liquidity into the banking system. Bernanke points out that monetary policies alone cannot revive the economy, and he describes ongoing structural and regulatory problems that need to be addressed.Providing first-hand knowledge of how problems in the financial system were handled, The Federal Reserve and the Financial Crisis will long be studied by those interested in this critical moment in history.

    She shows how both Presidents Hoover and Roosevelt failed to understand the prosperity of the 1920s and heaped massive burdens on the country that more than offset the benefit of New Deal programs.

    Brimming with lucid analysis, elegant character sketches, and geopolitical pathos, it is essential reading.'Between January and July 1919, after "the war to end all wars," men and women from around the world converged on Paris to shape the peace. Center stage, for the first time in history, was an American president, Woodrow Wilson, who with his Fourteen Points seemed to promise to so many people the fulfillment of their dreams. Stern, intransigent, impatient when it came to security concerns and wildly idealistic in his dream of a League of Nations that would resolve all future conflict peacefully, Wilson is only one of the larger-than-life characters who fill the pages of this extraordinary book. David Lloyd George, the gregarious and wily British prime minister, brought Winston Churchill and John Maynard Keynes. Lawrence of Arabia joined the Arab delegation. Ho Chi Minh, a kitchen assistant at the Ritz, submitted a petition for an independent Vietnam.For six months, Paris was effectively the center of the world as the peacemakers carved up bankrupt empires and created new countries. This book brings to life the personalities, ideals, and prejudices of the men who shaped the settlement. They pushed Russia to the sidelines, alienated China, and dismissed the Arabs. They struggled with the problems of Kosovo, of the Kurds, and of a homeland for the Jews.The peacemakers, so it has been said, failed dismally; above all they failed to prevent another war. Margaret MacMillan argues that they have unfairly been made the scapegoats for the mistakes of those who came later. She refutes received ideas about the path from Versailles to World War II and debunks the widely accepted notion that reparations imposed on the Germans were in large part responsible for the Second World War.A landmark work of narrative history, Paris 1919 is the first full-scale treatment of the Peace Conference in more than twenty-five years. It offers a scintillating view of those dramatic and fateful days when much of the modern world was sketched out, when countries were created--Iraq, Yugoslavia, Israel--whose troubles haunt us still.Winner of the Samuel Johnson Prize, the PEN Hessell Tiltman Prize and the Duff Cooper Prize

    Since its introduction in 1978, this book has charted and followed this volatile world of financial markets. Charles Kindleberger's brilliant, panoramic history revealed how financial crises follow a nature-like rhythm: they peak and purge, swell and storm. Now this newly revised and expanded Fourth Edition probes the most recent "natural disasters" of the markets--from the difficulties in East Asia and the repercussions of the Mexican crisis to the 1992 Sterling crisis. His sharply drawn history confronts a host of key questions. Charles P. Kindleberger (Boston, MA) was the Ford Professor of Economics at MIT for thirty-three years. He is a financial historian and prolific writer who has published over twenty-four books.

    Much greater than space travel or perhaps even the next revolutionary medical breakthrough, what is at stake is the whole idea of the good life as we have known it.Immigration and inequality, globalization and technological disruption, slowing growth and accelerating climate change--these are sources of great anxiety across the world, from New Delhi and Dakar to Paris and Washington, DC. The resources to address these challenges are there--what we lack are ideas that will help us jump the wall of disagreement and distrust that divides us. If we succeed, history will remember our era with gratitude; if we fail, the potential losses are incalculable.In this revolutionary book, renowned MIT economists Abhijit V. Banerjee and Esther Duflo take on this challenge, building on cutting-edge research in economics explained with lucidity and grace. Original, provocative, and urgent, Good Economics for Hard Times makes a persuasive case for an intelligent interventionism and a society built on compassion and respect and show how economics, when done right, can help us solve the thorniest social and political problems of the day. It is an extraordinary achievement, one that shines a light to help us appreciate and understand our precariously balanced world.

    Every developed nation in the world at one time went through the transformation from predominantly informal, extralegal ownership to a formal, unified legal property system. In the West we've forgotten that creating this system is also what allowed people everywhere to leverage property into wealth. This persuasive book will revolutionize our understanding of capital and point the way to a major transformation of the world economy.

    In the years that followed, as Wall Street boomed and financial wheeler-dealers made vast profits, the international crises of the 1990s faded from memory. But now depression economics has come to America: when the great housing bubble of the mid-2000s burst, the U.S. financial system proved as vulnerable as those of developing countries caught up in earlier crises and a replay of the 1930s seems all too possible. In this new, greatly updated edition of The Return of Depression Economics, Krugman shows how the failure of regulation to keep pace with an increasingly out-of-control financial system set the United States, and the world as a whole, up for the greatest financial crisis since the 1930s. He also lays out the steps that must be taken to contain the crisis, and turn around a world economy sliding into a deep recession. Brilliantly crafted in Krugman's trademark style--lucid, lively, and supremely informed--this new edition of The Return of Depression Economics will become an instant cornerstone of the debate over how to respond to the crisis.

    Empires were abolished and replaced by a global arrangement enforced by the U.S. Navy. With all the world's oceans safe for the first time in history, markets and resources were made available for everyone. Enemies became partners.We think of this system as normal - it is not. We live in an artificial world on borrowed time.In The Accidental Superpower, international strategist Peter Zeihan examines how the hard rules of geography are eroding the American commitment to free trade; how much of the planet is aging into a mass retirement that will enervate markets and capital supplies; and how, against all odds, it is the ever-ravenous American economy that - alone among the developed nations - is rapidly approaching energy independence. Combined, these factors are doing nothing less than overturning the global system and ushering in a new (dis)order. For most, that is a disaster-in-waiting, but not for the Americans. The shale revolution allows Americans to sidestep an increasingly dangerous energy market. Only the United States boasts a youth population large enough to escape the sucking maw of global aging. Most important, geography will matter more than ever in a de-globalizing world, and America's geography is simply sublime.

    We have been through the biggest financial crisis since the Great Depression, unemployment remains stubbornly high, and talk of a double-dip recession persists. Americans are not pulling the world economy out of its sluggish state -- if anything we are looking to Asia to drive a recovery. Median wages have risen only slowly since the 1970s, and this multi-decade stagnation is not yet over. By contrast, the living standards of earlier generations would double every few decades. The Democratic Party seeks to expand government spending even when the middle class feels squeezed, the public sector doesn't always perform well, and we have no good plan for paying for forthcoming entitlement spending. To the extent Republicans have a consistent platform, it consists of unrealistic claims about how tax cuts will raise revenue and stimulate economic growth. The Republicans, when they hold power, are often a bigger fiscal disaster than the Democrats. How did we get into this mess? Imagine a tropical island where the citrus and bananas hang from the trees. Low-hanging literal fruit -- you don't even have to cook the stuff. In a figurative sense, the American economy has enjoyed lots of low-hanging fruit since at least the seventeenth century: free land; immigrant labor; and powerful new technologies. Yet during the last forty years, that low-hanging fruit started disappearing and we started pretending it was still there. We have failed to recognize that we are at a technological plateau and the trees are barer than we would like to think. That's it. That is what has gone wrong. The problem won't be solved overnight, but there are reasons to be optimistic. We simply have to recognize the underlying causes of our past prosperity-low hanging fruit-and how we will come upon more of it.

    As the 3rd Reich embarked upon its plan of conquest & genocide, IBM & its subsidiaries helped create enabling technologies, step-by-step, from the identification & cataloging programs of the 30s to the selections of the 40s. Only after Jews were identified--a massively complex task Hitler wanted done immediately--could they be targeted for efficient asset confiscation, ghettoization, deportation, enslaved labor & annihilation. It was a cross-tabulation & organizational challenge so monumental, it called for a computer. Of course, in the 30s no computer existed. But IBM's Hollerith punch card technology did exist. Aided by the company's custom-designed & constantly updated Hollerith systems, Hitler was able to automate the persecution of the Jews.Historians were amazed at the speed & accuracy with which the Nazis were able to identify & locate European Jewry. Until now, the pieces of this puzzle have never been fully assembled. The fact is, IBM technology was used to organize nearly everything in Germany & then Nazi Europe, from the identification of the Jews in censuses, registrations & ancestral tracing programs to the running of railroads & organizing of concentration camp slave labor. IBM & its German subsidiary custom-designed complex solutions, anticipating the Reich's needs. They didn't merely sell the machines & walk away. Instead, IBM leased these machines for high fees & became the sole source of the billions of punch cards needed. IBM & the Holocaust details the carefully crafted corporate collusion with the 3rd Reich, as well as the structured deniability of oral agreements, undated letters & the Geneva intermediaries--all undertaken as the newspapers blazed with accounts of persecution & destruction. Just as compelling is the human drama of one of our century's greatest minds, IBM founder Thomas Watson, who cooperated with the Nazis for the sake of profit. Only with IBM's technologic assistance was Hitler able to achieve the staggering numbers of the Holocaust. Edwin Black has now uncovered one of the last great mysteries of Germany's war against the Jews: how Hitler got the names.

    Freeman tells the story of the factory and examines how it has reflected both our dreams and our nightmares of industrialization and social change. He whisks readers from the early textile mills that powered the Industrial Revolution to the factory towns of New England to today’s behemoths making sneakers, toys, and cellphones in China and Vietnam. Behemoth offers a piercing perspective on how factories have shaped our societies and the challenges we face now.

    A radically new interpretation of the Progressive Era which argues that business leaders, and not the reformers, inspired the era’s legislation regarding business.

    We face four major challenges on which our future depends, and we are failing to meet them—and if we delay any longer, soon it will be too late for us to pass along the American dream to future generations. In That Used to Be Us, Thomas L. Friedman, one of our most influential columnists, and Michael Mandelbaum, one of our leading foreign policy thinkers, offer both a wake-up call and a call to collective action. They analyze the four challenges we face—globalization, the revolution in information technology, the nation's chronic deficits, and our pattern of excessive energy consumption—and spell out what we need to do now to sustain the American dream and preserve American power in the world. They explain how the end of the Cold War blinded the nation to the need to address these issues seriously, and how China's educational successes, industrial might, and technological prowess remind us of the ways in which "that used to be us." They explain how the paralysis of our political system and the erosion of key American values have made it impossible for us to carry out the policies the country urgently needs. And yet Friedman and Mandelbaum believe that the recovery of American greatness is within reach. They show how America's history, when properly understood, offers a five-part formula for prosperity that will enable us to cope successfully with the challenges we face. They offer vivid profiles of individuals who have not lost sight of the American habits of bold thought and dramatic action. They propose a clear way out of the trap into which the country has fallen, a way that includes the rediscovery of some of our most vital traditions and the creation of a new thirdparty movement to galvanize the country. That Used to Be Us is both a searching exploration of the American condition today and a rousing manifesto for American renewal.

    John Maynard Keynes, the mercurial Cambridge economist, believed that government had a duty to spend when others would not. He met his opposite in a little-known Austrian economics professor, Freidrich Hayek, who considered attempts to intervene both pointless and potentially dangerous. The battle lines thus drawn, Keynesian economics would dominate for decades and coincide with an era of unprecedented prosperity, but conservative economists and political leaders would eventually embrace and execute Hayek's contrary vision.From their first face-to-face encounter to the heated arguments between their ardent disciples, Nicholas Wapshott here unearths the contemporary relevance of Keynes and Hayek, as present-day arguments over the virtues of the free market and government intervention rage with the same ferocity as they did in the 1930s.