The economic narratives that underpinned these eras—the gold standard, the Bretton Woods regime, the "Washington Consensus"—brought great success and great failure. In this eloquent challenge to the reigning wisdom on globalization, Dani Rodrik offers a new narrative, one that embraces an ineluctable tension: we cannot simultaneously pursue democracy, national self-determination, and economic globalization. When the social arrangements of democracies inevitably clash with the international demands of globalization, national priorities should take precedence. Combining history with insight, humor with good-natured critique, Rodrik's case for a customizable globalization supported by a light frame of international rules shows the way to a balanced prosperity as we confront today's global challenges in trade, finance, and labor markets.

    With Every Mistake is not only a collection of the very best of Dyer’s recent work, but an examination of how, time and again, the media skews fact and opinion, wielding formidable influence on how we all shape our own thoughts. And why is so much of the information wrong? Is it herd instinct, official manipulation, robber-baron owners with ideological obsessions — or just the conflict between the inherently bitty, short-term nature of news reporting and analysis and the longer perspectives needed to understand what is actually going on? How much misinformation stems from simple ignorance and laziness?

    Russ Roberts argues that the true underlying cause of the mess was the past bailouts of large financial institutions that allowed these institutions to gamble carelessly because they were effectively using other people’s money. The author warns that despite the passage of Dodd-Frank, it is widely believed that we have done nothing to eliminate ‘Too Big to Fail.’ That perception allows the largest financial institutions to continue to gamble with taxpayer money.

    Last year saw governments collapse across the Middle East, in events documented on Twitter and You Tube hours before the mainstream media started their coverage. The phone hacking scandal placed unprecedented scrutiny on journalistic practices, with the Prime Minster calling for the relationship between politicians and the media to be 'reset'. We have seen the UK's first televised Prime Ministerial debate, the BBC relax restrictions on political broadcasts, and David Cameron forced to publish a full list of his contacts with the media. The focus of politics has shifted firmly from the street corner, to the box in the corner and elsewhere. In Live From Downing Street, the BBC's Political Editor, Nick Robinson, tells the inside story of the 'troubled marriage' which has forced politicians and broadcasters to live together, rarely in harmony, for over 70 years. With unprecedented access and insight he reveals how the key players, past and present, handle the portrayal of their role in the public eye with varying degrees of success. Coupled with an analysis of how the relationship between politics and instant broadcasting will develop further in the digital world, Live From Downing Street presents a fascinating and important story of politics and the media in our time.

    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.

    Their remarkable success appears to vindicate the old idea that modern society is too complex to be subjected to a plan. And yet, as Leigh Phillips and Michal Rozworski argue, much of the economy of the West is centrally planned at present. Not only is planning on vast scales possible, we already have it and it works. The real question is whether planning can be democratic. Can it be transformed to work for us?An engaging, polemical romp through economic theory, computational complexity, and the history of planning, The People’s Republic of Walmart revives the conversation about how society can extend democratic decision-making to all economic matters. With the advances in information technology in recent decades and the emergence of globe-straddling collective enterprises, democratic planning in the interest of all humanity is more important and closer to attainment than ever before.

    Tracing the global history of inequality from the Stone Age to today, Walter Scheidel shows that inequality never dies peacefully. Inequality declines when carnage and disaster strike and increases when peace and stability return. The Great Leveler is the first book to chart the crucial role of violent shocks in reducing inequality over the full sweep of human history around the world.Ever since humans began to farm, herd livestock, and pass on their assets to future generations, economic inequality has been a defining feature of civilization. Over thousands of years, only violent events have significantly lessened inequality. The "Four Horsemen" of leveling—mass-mobilization warfare, transformative revolutions, state collapse, and catastrophic plagues—have repeatedly destroyed the fortunes of the rich. Scheidel identifies and examines these processes, from the crises of the earliest civilizations to the cataclysmic world wars and communist revolutions of the twentieth century. Today, the violence that reduced inequality in the past seems to have diminished, and that is a good thing. But it casts serious doubt on the prospects for a more equal future.An essential contribution to the debate about inequality, The Great Leveler provides important new insights about why inequality is so persistent—and why it is unlikely to decline anytime soon.

    It examines a distinctive stage in the development of capitalism that began in the 1980s, in order to understand where we are now and how capitalism has evolved since. The book discusses the crisis tendencies of capitalism--including the S.E. Asian banking crisis, the collapse of the Russian economy, and the 1997-1998 global financial crisis--asking whether capitalism is doomed to fail. In the end, the author ruminates on a possible alternative to capitalism, discussing socialism, communal and cooperative experiments, and alternatives proposed by environmentalists.About the Series: Combining authority with wit, accessibility, and style, Very Short Introductions offer an introduction to some of life's most interesting topics. Written by experts for the newcomer, they demonstrate the finest contemporary thinking about the central problems and issues in hundreds of key topics, from philosophy to Freud, quantum theory to Islam.

    When it first appeared the New English Weekly predicted that 'for the next five to ten years it will cetainly remain a work with which no one who professes any degree of information on sociology or economics can afford to be unacquainted.' Fifty years on, this prediction seems a little understated.Why has the work endured so well? Schumpeter's contention that the seeds of capitalism's decline were internal, and his equal and opposite hostility to centralist socialism have perplexed, engaged and infuriated readers since the book's publication. By refusing to become an advocate for either position Schumpeter was able both to make his own great and original contribution and to clear the way for a more balanced consideration of the most important social movements of his and our time.

    In contrast, they have advanced a policy of draconian budget cuts--austerity--to solve the financial crisis. We are told that we have all lived beyond our means and now need to tighten our belts. This view conveniently forgets where all that debt came from. Not from an orgy of government spending, but as the direct result of bailing out, recapitalizing, and adding liquidity to the broken banking system. Through these actions private debt was rechristened as government debt while those responsible for generating it walked away scot free, placing the blame on the state, and the burden on the taxpayer. That burden now takes the form of a global turn to austerity, the policy of reducing domestic wages and prices to restore competitiveness and balance the budget. The problem, according to political economist Mark Blyth, is that austerity is a very dangerous idea. First of all, it doesn't work. As the past four years and countless historical examples from the last 100 years show, while it makes sense for any one state to try and cut its way to growth, it simply cannot work when all states try it simultaneously: all we do is shrink the economy. In the worst case, austerity policies worsened the Great Depression and created the conditions for seizures of power by the forces responsible for the Second World War: the Nazis and the Japanese military establishment. As Blyth amply demonstrates, the arguments for austerity are tenuous and the evidence thin. Rather than expanding growth and opportunity, the repeated revival of this dead economic idea has almost always led to low growth along with increases in wealth and income inequality. Austerity demolishes the conventional wisdom, marshaling an army of facts to demand that we austerity for what it is, and what it costs us.

    Refugee waves. An unfixable global economy. Surprising election results. New billion-dollar fortunes. Miracle medical advances. What if they were all connected? What if you could understand why? The Seventh Sense is the story of what all of today's successful figures see and feel: the forces that are invisible to most of us but explain everything from explosive technological change to uneasy political ripples. The secret to power now is understanding our new age of networks. Not merely the Internet, but also webs of trade, finance, and even DNA. Based on his years of advising generals, CEOs, and politicians, Ramo takes us into the opaque heart of our world's rapidly connected systems and teaches us what the losers are not yet seeing -- and what the victors of this age already know.

    Drawing on vast data sets and cutting-edge research, he explains the benign and malign forces that make inequality rise and fall within and among nations. He also reveals who has been helped the most by globalization, who has been held back, and what policies might tilt the balance toward economic justice.Global Inequality takes us back hundreds of years, and as far around the world as data allow, to show that inequality moves in cycles, fueled by war and disease, technological disruption, access to education, and redistribution. The recent surge of inequality in the West has been driven by the revolution in technology, just as the Industrial Revolution drove inequality 150 years ago. But even as inequality has soared within nations, it has fallen dramatically among nations, as middle-class incomes in China and India have drawn closer to the stagnating incomes of the middle classes in the developed world. A more open migration policy would reduce global inequality even further.Both American and Chinese inequality seems well entrenched and self-reproducing, though it is difficult to predict if current trends will be derailed by emerging plutocracy, populism, or war. For those who want to understand how we got where we are, where we may be heading, and what policies might help reverse that course, Milanovic s compelling explanation is the ideal place to start."

    This splendid book is an invaluable contribution to the debate about what ails democracy, and what can be done about it." --Michael J. Sandel, author of Justice"Everyone worried about the state of contemporary politics should read this book." --Anne-Marie Slaughter, President of the New America FoundationThe world is in turmoil. From Russia, Turkey, and Egypt to the United States, authoritarian populists have seized power. As a result, democracy itself may now be at risk.Two core components of liberal democracy--individual rights and the popular will--are increasingly at war with each other. As the role of money in politics soared and important issues were taken out of public contestation, a system of "rights without democracy" took hold. Populists who rail against this say they want to return power to the people. But in practice they create something just as bad: a system of "democracy without rights." The consequence, as Yascha Mounk shows in this brilliant and timely book, is that trust in politics is dwindling. Citizens are falling out of love with their political system. Democracy is wilting away. Drawing on vivid stories and original research, Mounk identifies three key drivers of voters' discontent: stagnating living standards, fear of multiethnic democracy, and the rise of social media. To reverse the trend, politicians need to enact radical reforms that benefit the many, not the few.The People vs. Democracy is the first book to describe both how we got here and what we need to do now. For those unwilling to give up either individual rights or the concept of the popular will, Mounk argues that urgent action is needed, as this may be our last chance to save democracy.

    What do these people not know? Socialism has killed millions, but it’s now the ideology du jour on American college campuses and among many leftists. Reintroduced by leaders such as Bernie Sanders and Alexandria Ocasio-Cortez, the ideology manifests itself in starry-eyed calls for free-spending policies like Medicare-for-all and student loan forgiveness.In The Case Against Socialism, Rand Paul outlines the history of socialism, from Stalin’s gulags to the current famine in Venezuela. He tackles common misconceptions about the “utopia” of socialist Europe. As it turns out, Scandinavian countries love capitalism as much as Americans, and have, for decades, been cutting back on the things Bernie loves the most.Socialism’s return is only possible because many Americans have forgotten the true dangers of the twentieth-century’s deadliest ideology. Paul reveals the devastating truth: for every college student sporting a Che Guevara T-shirt, there’s a Venezuelan child dying of starvation. Desperate refugees flee communist Cuba to escape oppressive censorship, rationed food and squalid hospitals, not “free” healthcare. Socialist dictatorships like the People’s Republic of China crush freedom of speech and run massive surveillance states while masquerading as enlightened modern nations. Far from providing economic freedom, socialist governments enslave their citizens. They offer illusory promises of safety and equality while restricting personal liberty, tightening state power, sapping human enterprise and making citizens dependent on the dole.If socialism takes hold in America, it will imperil the fate of the world’s freest nation, unleashing a plague of oppressive government control. The Case Against Socialism is a timely response to that threat and a call to action against the forces menacing American liberty.

    Japan was going to dominate, then China. Countries were called “tigers” or “mini-dragons,” and were seen as not just development prodigies, but as a unified bloc, culturally and economically similar, and inexorably on the rise.Joe Studwell has spent two decades as a reporter in the region, and The Financial Times said he “should be named chief myth-buster for Asian business.” In How Asia Works, Studwell distills his extensive research into the economies of nine countries—Japan, South Korea, Taiwan, Indonesia, Malaysia, Thailand, the Philippines, Vietnam, and China—into an accessible, readable narrative that debunks Western misconceptions, shows what really happened in Asia and why, and for once makes clear why some countries have boomed while others have languished.Studwell’s in-depth analysis focuses on three main areas: land policy, manufacturing, and finance. Land reform has been essential to the success of Asian economies, giving a kick start to development by utilizing a large workforce and providing capital for growth. With manufacturing, industrial development alone is not sufficient, Studwell argues. Instead, countries need “export discipline,” a government that forces companies to compete on the global scale. And in finance, effective regulation is essential for fostering, and sustaining growth. To explore all of these subjects, Studwell journeys far and wide, drawing on fascinating examples from a Philippine sugar baron’s stifling of reform to the explosive growth at a Korean steel mill.Thoroughly researched and impressive in scope, How Asia Works is essential reading for anyone interested in the development of these dynamic countries, a region that will shape the future of the world.