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.

    But the most important, consequential, and widening gap in American society is between the upper middle class and everyone else.Reeves defines the upper middle class as those whose incomes are in the top 20 percent of American society. Income is not the only way to measure a society, but in a market economy it is crucial because access to money generally determines who gets the best quality education, housing, health care, and other necessary goods and services.As Reeves shows, the growing separation between the upper middle class and everyone else can be seen in family structure, neighborhoods, attitudes, and lifestyle. Those at the top of the income ladder are becoming more effective at passing on their status to their children, reducing overall social mobility. The result is not just an economic divide but a fracturing of American society along class lines. Upper-middle-class children become upper-middle-class adults.These trends matter because the separation and perpetuation of the upper middle class corrode prospects for more progressive approaches to policy. Various forms of “opportunity hoarding” among the upper middle class make it harder for others to rise up to the top rung. Examples include zoning laws and schooling, occupational licensing, college application procedures, and the allocation of internships. Upper-middle-class opportunity hoarding, Reeves argues, results in a less competitive economy as well as a less open society.Inequality is inevitable and can even be good, within limits. But Reeves argues that society can take effective action to reduce opportunity hoarding and thus promote broader opportunity. This fascinating book shows how American society has become the very class-defined society that earlier Americans rebelled against—and what can be done to restore a more equitable society.

    

    To reach the next level, you must understand the coveted 4th degree of action. This 4th degree, also known as the 10 X Rule, is that level of action that guarantees companies and individuals realize their goals and dreams.The 10 X Rule unveils the principle of "Massive Action," allowing you to blast through business clichZs and risk-aversion while taking concrete steps to reach your dreams. It also demonstrates why people get stuck in the first three actions and how to move into making the 10X Rule a discipline. Find out exactly where to start, what to do, and how to follow up each action you take with more action to achieve Massive Action results.Learn the "Estimation of Effort" calculation to ensure you exceed your targets Make the Fourth Degree a way of life and defy mediocrity Discover the time management myth Get the exact reasons why people fail and others succeed Know the exact formula to solve problems Extreme success is by definition outside the realm of normal action. Instead of behaving like everybody else and settling for average results, take Massive Action with The 10 X Rule, remove luck and chance from your business equation, and lock in massive success.

    financial system, which had grown far too complex for its own good-and too unregulated for the public good-experienced a perfect storm beginning in 2007. When America's financial structure crumbled, the damage proved to be not only deep, but wide. It took the crisis for the world to discover, to its horror, just how truly interconnected-and fragile-the global financial system is. The second part of the story explains how American and international government intervention kept us from a total meltdown. Many of the U.S. government's actions, particularly the Fed's, were previously unimaginable. And to an amazing-and certainly misunderstood-extent, they worked. The worst did not happen. Blinder offers clear-eyed answers to the questions still before us, even if some of the choices ahead are as divisive as they are unavoidable. After the Music Stopped is an essential history that we cannot afford to forget, because one thing history teaches is that it will happen here again.

    It’s the epic story of the making of modern economics, and of how economics rescued mankind from squalor and deprivation by placing its material fate in its own hands rather than in Fate. Nasar’s account begins with Charles Dickens and Henry Mayhew observing and publishing the condition of the poor majority in mid-nineteenth-century London, the richest and most glittering place in the world. This was a new pursuit. She describes the often heroic efforts of Marx, Engels, Alfred Marshall, Beatrice and Sydney Webb, and the American Irving Fisher to put those insights into action—with revolutionary consequences for the world. From the great John Maynard Keynes to Schumpeter, Hayek, Keynes’s disciple Joan Robinson, the influential American economists Paul Samuelson and Milton Freedman, and India’s Nobel Prize winner Amartya Sen, she shows how the insights of these activist thinkers transformed the world—from one city, London, to the developed nations in Europe and America, and now to the entire planet. In Nasar’s dramatic narrative of these discoverers we witness men and women responding to personal crises, world wars, revolutions, economic upheavals, and each other’s ideas to turn back Malthus and transform the dismal science into a triumph over mankind’s hitherto age-old destiny of misery and early death. This idea, unimaginable less than 200 years ago, is a story of trial and error, but ultimately transcendent, as it is rendered here in a stunning and moving narrative.

    The four principles that can help us to overcome our brains' natural biases to make better, more informed decisions -- in our lives, careers, families and organizations.In Decisive, Chip Heath and Dan Heath, the bestselling authors of Made to Stick and Switch, tackle the thorny problem of how to overcome our natural biases and irrational thinking to make better decisions, about our work, lives, companies and careers.    When it comes to decision making, our brains are flawed instruments.  But given that we are biologically hard-wired to act foolishly and behave irrationally at times, how can we do better?  A number of recent bestsellers have identified how irrational our decision making can be.  But being aware of a bias doesn't correct it, just as knowing that you are nearsighted doesn't help you to see better.  In Decisive, the Heath brothers, drawing on extensive studies, stories and research, offer specific, practical tools that can help us to think more clearly about our options, and get out of our heads, to improve our decision making, at work and at home.

    After four decades spent ascending to the top of the investment management profession, he is today sought out by the world's leading value investors, and his client memos brim with insightful commentary and a time-tested, fundamental philosophy. Now for the first time, all readers can benefit from Marks's wisdom, concentrated into a single volume that speaks to both the amateur and seasoned investor.Informed by a lifetime of experience and study, The Most Important Thing explains the keys to successful investment and the pitfalls that can destroy capital or ruin a career. Utilizing passages from his memos to illustrate his ideas, Marks teaches by example, detailing the development of an investment philosophy that fully acknowledges the complexities of investing and the perils of the financial world. Brilliantly applying insight to today's volatile markets, Marks offers a volume that is part memoir, part creed, with a number of broad takeaways.Marks expounds on such concepts as "second-level thinking," the price/value relationship, patient opportunism, and defensive investing. Frankly and honestly assessing his own decisions--and occasional missteps--he provides valuable lessons for critical thinking, risk assessment, and investment strategy. Encouraging investors to be "contrarian," Marks wisely judges market cycles and achieves returns through aggressive yet measured action. Which element is the most essential? Successful investing requires thoughtful attention to many separate aspects, and each of Marks's subjects proves to be the most important thing.

    This pervasive yet little examined obsession is arguably the most powerful and devastating market force of our time-the engine of globalization, outsourcing, planned obsolescence, and economic instability in an increasingly unsettled world. Low price is so alluring that we may have forgotten how thoroughly we once distrusted it. Ellen Ruppel Shell traces the birth of the bargain as we know it from the Industrial Revolution to the assembly line and beyond, homing in on a number of colorful characters, such as Gene Verkauf (his name is Yiddish for "to sell"), founder of E. J. Korvette, the discount chain that helped wean customers off traditional notions of value. The rise of the chain store in post-Depression America led to the extolling of convenience over quality, and big-box retailers completed the reeducation of the American consumer by making them prize low price in the way they once prized durability and craftsmanship. The effects of this insidious perceptual shift are vast: a blighted landscape, escalating debt (both personal and national), stagnating incomes, fraying communities, and a host of other socioeconomic ills. That's a long list of charges, and it runs counter to orthodox economics which argues that low price powers productivity by stimulating a brisk free market. But Shell marshals evidence from a wide range of fields-history, sociology, marketing, psychology, even economics itself-to upend the conventional wisdom. Cheap also unveils the fascinating and unsettling illogic that underpins our bargain-hunting reflex and explains how our deep-rooted need for bargains colors every aspect of our psyches and social lives. In this myth-shattering, closely reasoned, and exhaustively reported investigation, Shell exposes the astronomically high cost of cheap.

    In this explosive book, Bryan Caplan argues that the primary function of education is not to enhance students' skill but to certify their intelligence, work ethic, and conformity—in other words, to signal the qualities of a good employee. Learn why students hunt for easy As and casually forget most of what they learn after the final exam, why decades of growing access to education have not resulted in better jobs for the average worker but instead in runaway credential inflation, how employers reward workers for costly schooling they rarely if ever use, and why cutting education spending is the best remedy.Caplan draws on the latest social science to show how the labor market values grades over knowledge, and why the more education your rivals have, the more you need to impress employers. He explains why graduation is our society's top conformity signal, and why even the most useless degrees can certify employability. He advocates two major policy responses. The first is educational austerity. Government needs to sharply cut education funding to curb this wasteful rat race. The second is more vocational education, because practical skills are more socially valuable than teaching students how to outshine their peers.Romantic notions about education being "good for the soul" must yield to careful research and common sense — The Case against Education points the way.

    Thorp invented card counting, proving the seemingly impossible: that you could beat the dealer at the blackjack table. As a result he launched a gambling renaissance. His remarkable success--and mathematically unassailable method--caused such an uproar that casinos altered the rules of the game to thwart him and the legions he inspired. They barred him from their premises, even put his life in jeopardy. Nonetheless, gambling was forever changed.Thereafter, Thorp shifted his sights to "the biggest casino in the world" Wall Street. Devising and then deploying mathematical formulas to beat the market, Thorp ushered in the era of quantitative finance we live in today. Along the way, the so-called godfather of the quants played bridge with Warren Buffett, crossed swords with a young Rudy Giuliani, detected the Bernie Madoff scheme, and, to beat the game of roulette, invented, with Claude Shannon, the world's first wearable computer.Here, for the first time, Thorp tells the story of what he did, how he did it, his passions and motivations, and the curiosity that has always driven him to disregard conventional wisdom and devise game-changing solutions to seemingly insoluble problems. An intellectual thrill ride, replete with practical wisdom that can guide us all in uncertain financial waters, A Man for All Markets is an instant classic--a book that challenges its readers to think logically about a seemingly irrational world.Praise for A Man for All Markets"In A Man for All Markets, [Thorp] delightfully recounts his progress (if that is the word) from college teacher to gambler to hedge-fund manager. Along the way we learn important lessons about the functioning of markets and the logic of investment."--The Wall Street Journal"[Thorp] gives a biological summation (think Richard Feynman's Surely You're Joking, Mr. Feynman!) of his quest to prove the aphorism 'the house always wins' is flawed. . . . Illuminating for the mathematically inclined, and cautionary for would-be gamblers and day traders"-- Library Journal

    Depending on when you ask this controversial Princeton University guest lecturer, he might answer: "I race motorcycles in Europe." "I ski in the Andes." "I scuba dive in Panama." "I dance tango in Buenos Aires." He has spent more than five years learning the secrets of the New Rich, a fast-growing subculture who has abandoned the "deferred-life plan" and instead mastered the new currencies-time and mobility-to create luxury lifestyles in the here and now. Whether you are an overworked employee or an entrepreneur trapped in your own business, this book is the compass for a new and revolutionary world.Join Tim Ferriss as he teaches you:- How to outsource your life to overseas virtual assistants for $5 per hour and do whatever you want?- How blue-chip escape artists travel the world without quitting their jobs?- How to eliminate 50% of your work in 48 hours using the principles of a forgotten Italian economist?- How to trade a long-haul career for short work bursts and freuent "mini-retirements"?- What the crucial difference is between absolute and relative income?- How to train your boss to value performance over presence, or kill your job (or company) if it's beyond repair?- What automated cash-flow "muses" are and how to create one in 2 to 4 weeks?- How to cultivate selective ignorance-and create time-with a low-information diet?- What the management secrets of Remote Control CEOs are?- How to get free housing worldwide and airfare at 50-80% off?- How to fill the void and create a meaningful life after removing work and the office

    But what if our actions are driven not by our conscious values and beliefs but by hidden motivations we’re not even aware of?The “hidden brain” is Shankar Vedantam’s shorthand for a host of brain functions, emotional responses, and cognitive processes that happen outside our conscious awareness but have a decisive effect on how we behave. The hidden brain has its finger on the scale when we make all our most complex and important decisions: It decides whom we fall in love with, whether we should convict someone of murder, and which way to run when someone yells “Fire!” It explains why we can become riveted by the story of a single puppy adrift on the ocean but are quickly bored by a story of genocide. The hidden brain can also be deliberately manipulated to convince people to vote against their own interests, or even become suicide terrorists. But the most disturbing thing is that it does all this without our knowing.Shankar Vedantam, author of The Washington Post’s popular “Department of Human Behavior” column, takes us on a tour of this phenomenon and explores its consequences. Using original reporting that combines the latest scientific research with compulsively readable narratives that take readers from the American campaign trail to terrorist indoctrination camps, from the World Trade Center on 9/11 to, yes, a puppy adrift on the Pacific Ocean, Vedantam illuminates the dark recesses of our minds while making an original argument about how we can compensate for our blind spots and what happens when we don’t.

    I.O.U. is the story of how we came to experience such a complete and devastating financial implosion, and how the decisions and actions of a select group of individuals had profound consequences for America, Europe, and the global economy overall. John Lanchester begins with "The ATM Moment," that seemingly magical proliferation of cheap credit that led to an explosion of lending, and then deftly outlines the global and local landscapes of banking and finance. Viewing the crisis through the lens of politics, culture, and contemporary history -- from the invention and widespread misuse of financial instruments to the culpability of subprime mortgages -- Lanchester draws perceptive conclusions on the limitations of financial and governmental regulation, capitalism's deepest flaw, and, most important, on the plain and simple facts of human nature where cash is concerned.Weaving together firsthand research and superbly written reportage, Lanchester delivers a shrewd perspective and a digestible, comprehensive analysis that connects the dots for the expert and casual reader alike. I.O.U. is an eye-opener of a book -- it may well provoke anger, amazement, or rueful disbelief -- and, as the author clearly reveals, we've only just begun to get ourselves back on track.

    We all sense that, but Mervyn King knows it firsthand; his ten years at the helm of the Bank of England, including at the height of the financial crisis, revealed profound truths about the mechanisms of our capitalist society. In The End of Alchemy he offers us an essential work about the history and future of money and banking, the keys to modern finance.The Industrial Revolution built the foundation of our modern capitalist age. Yet the flowering of technological innovations during that dynamic period relied on the widespread adoption of two much older ideas: the creation of paper money and the invention of banks that issued credit. We take these systems for granted today, yet at their core both ideas were revolutionary and almost magical. Common paper became as precious as gold, and risky long-term loans were transformed into safe short-term bank deposits. As King argues, this is financial alchemy—the creation of extraordinary financial powers that defy reality and common sense. Faith in these powers has led to huge benefits; the liquidity they create has fueled economic growth for two centuries now. However, they have also produced an unending string of economic disasters, from hyperinflations to banking collapses to the recent global recession and current stagnation.How do we reconcile the potent strengths of these ideas with their inherent weaknesses? King draws on his unique experience to present fresh interpretations of these economic forces and to point the way forward for the global economy. His bold solutions cut through current overstuffed and needlessly complex legislation to provide a clear path to durable prosperity and the end of overreliance on the alchemy of our financial ancestors.