This book asks: How did this happen? Who's benefiting? And how can we stop it?

    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.

    Kevin Bales's disturbing story of contemporary slavery reaches from Pakistan's brick kilns and Thailand's brothels to various multinational corporations. His investigations reveal how the tragic emergence of a "new slavery" is inextricably linked to the global economy. This completely revised edition includes a new preface.All of the author's royalties from this book go to fund antislavery projects around the world.

    But in END THE FED, Ron Paul draws on American history, economics, and fascinating stories from his own long political life to argue that the Fed is both corrupt and unconstitutional. It is inflating currency today at nearly a Weimar or Zimbabwe level, a practice that threatens to put us into an inflationary depression where $100 bills are worthless. What most people don't realize is that the Fed -- created by the Morgans and Rockefellers at a private club off the coast of Georgia -- is actually working against their own personal interests. Congressman Paul's urgent appeal to all citizens and officials tells us where we went wrong and what we need to do fix America's economic policy for future generations.

    Plantation owners, shipbuilders, and merchants connected with the slave trade accumulated vast fortunes that established banks and heavy industry in Europe and expanded the reach of capitalism worldwide.Eric Williams advanced these powerful ideas in Capitalism and Slavery, published in 1944. Years ahead of its time, his profound critique became the foundation for studies of imperialism and economic development.Binding an economic view of history with strong moral argument, Williams's study of the role of slavery in financing the Industrial Revolution refuted traditional ideas of economic and moral progress and firmly established the centrality of the African slave trade in European economic development. He also showed that mature industrial capitalism in turn helped destroy the slave system. Establishing the exploitation of commercial capitalism and its link to racial attitudes, Williams employed a historicist vision that set the tone for future studies.In a new introduction, Colin Palmer assesses the lasting impact of Williams's groundbreaking work and analyzes the heated scholarly debates it generated when it first appeared.

    When a scholar as careful and learned as Mr. Kennedy is prompted by contemporary issues to reexamine the great processes of the past, the result can only be an enhancement of our historical understanding.... When the study is written as simply and attractively as this work is, its publication may have a great and beneficient impact. It is to be hoped that Mr. Kennedy's will have one, at a potentially decisive moment in America's history."Michael Howard, The New York Times Book Review"Important, learned, and lucid... Paul Kennedy's great achievement is that he makes us see our current international problems against a background of empires that have gone under because they were unaible to sustain the material cost of greatness; and he does so in a universal historical perspective of which Ranke would surely have approved."James Joll, The New York Review of Books"His strategic-economic approach provides him with the context for a shapely narrative....Professor Kennedy not only exploits his framework eloquently, he also makes use of it to dig deeper and explore the historical contexts in which some 'power centers' prospered....But the most commanding purpose of his project...is the lesson he draws from 15 centuries of statecraft to apply to the present scene....[The book's] final section is for everyone concerned with the contemporary political scene."Christopher Lehmann-Haupt, The New York Times"Kennedy gives epic meaning to the nation's relative economic and industrial decline." Newsweek

    economic system.

    In this Very Short Introduction, Robert C. Allen shows how the interplay of geography, globalization, technological change, and economic policy has determined the wealth and poverty of nations. Allen shows how the industrial revolution was Britain's path-breaking response to the challenge of globalization. Western Europe and North America joined Britain to form a club of rich nations, pursuing four polices--creating a national market by abolishing internal tariffs and investing in transportation, erecting an external tariff to protect their fledgling industries from British competition, creating banks to stabilize the currency and mobilize domestic savings for investment, and promoting mass education to prepare people for industrial work. Together these countries pioneered new technologies that have made them ever richer. A few countries--Japan, Soviet Russia, South Korea, Taiwan, and perhaps China--have caught up with the West through creative responses to the technological challenge and with Big Push industrialization that has achieved rapid growth through coordinated investment.

    Prahalad describes how the world's low-income markets offer opportunity for the world's wealthiest companies to seek fortune and bring prosperity to the poor.

    But as Jane Mayer shows in this powerful, meticulously reported history, a network of exceedingly wealthy people with extreme libertarian views bankrolled a systematic, step-by-step plan to fundamentally alter the American political system.The network has brought together some of the richest people on the planet. Their core beliefs—that taxes are a form of tyranny; that government oversight of business is an assault on freedom—are sincerely held. But these beliefs also advance their personal and corporate interests: Many of their companies have run afoul of federal pollution, worker safety, securities, and tax laws.The chief figures in the network are Charles and David Koch, whose father made his fortune in part by building oil refineries in Stalin’s Russia and Hitler’s Germany. The patriarch later was a founding member of the John Birch Society, whose politics were so radical it believed Dwight Eisenhower was a communist. The brothers were schooled in a political philosophy that asserted the only role of government is to provide security and to enforce property rights.When libertarian ideas proved decidedly unpopular with voters, the Koch brothers and their allies chose another path. If they pooled their vast resources, they could fund an interlocking array of organizations that could work in tandem to influence and ultimately control academic institutions, think tanks, the courts, statehouses, Congress, and, they hoped, the presidency. Richard Mellon Scaife, the mercurial heir to banking and oil fortunes, had the brilliant insight that most of their political activities could be written off as tax-deductible “philanthropy.”These organizations were given innocuous names such as Americans for Prosperity. Funding sources were hidden whenever possible. This process reached its apotheosis with the allegedly populist Tea Party movement, abetted mightily by the Citizens United decision—a case conceived of by legal advocates funded by the network.The political operatives the network employs are disciplined, smart, and at times ruthless. Mayer documents instances in which people affiliated with these groups hired private detectives to impugn whistle-blowers, journalists, and even government investigators. And their efforts have been remarkably successful. Libertarian views on taxes and regulation, once far outside the mainstream and still rejected by most Americans, are ascendant in the majority of state governments, the Supreme Court, and Congress. Meaningful environmental, labor, finance, and tax reforms have been stymied.Jane Mayer spent five years conducting hundreds of interviews-including with several sources within the network-and scoured public records, private papers, and court proceedings in reporting this book. In a taut and utterly convincing narrative, she traces the byzantine trail of the billions of dollars spent by the network and provides vivid portraits of the colorful figures behind the new American oligarchy.Dark Money is a book that must be read by anyone who cares about the future of American democracy.

    E.P. Thompson shows how the working class took part in its own making & recreates the whole life experience of people who suffered loss of status & freedom, who underwent degradation & who yet created a culture & political consciousness of great vitality. "Thompson's book has been called controversial, but perhaps only because so many have forgotten how explosive England was during the Regency & the early reign of Victoria. Without any reservation, The Making of the English Working Class is the most important study of those days since the classic work of the Hammonds."--Commentary "Mr Thompson's deeply human imagination & controlled passion help us to recapture the agonies, heroisms & illusions of the working class as it made itself. No one interested in the history of the English people should fail to read his book."--Times Literary Supplement

    Indeed, as Rushkoff shows, most Americans have so willingly adopted the values of corporations that they’re no longer even aware of it.This fascinating journey, from the late Middle Ages to today, reveals the roots of our debacle. From the founding of the first chartered monopoly to the branding of the self; from the invention of central currency to the privatization of banking; from the birth of the modern, self-interested individual to his exploitation through the false ideal of the single-family home; from the Victorian Great Exhibition to the solipsism of MySpace–the corporation has infiltrated all aspects of our daily lives. Life Inc. exposes why we see our homes as investments rather than places to live, our 401(k) plans as the ultimate measure of success, and the Internet as just another place to do business.Most of all, Life Inc. shows how the current financial crisis is actually an opportunity to reverse this six-hundred-year-old trend and to begin to create, invest, and transact directly rather than outsource all this activity to institutions that exist solely for their own sakes. Corporatism didn’t evolve naturally. The landscape on which we are living–the operating system on which we are now running our social software–was invented by people, sold to us as a better way of life, supported by myths, and ultimately allowed to develop into a self-sustaining reality. It is a map that has replaced the territory. Rushkoff illuminates both how we’ve become disconnected from our world and how we can reconnect to our towns, to the value we can create, and, mostly, to one another. As the speculative economy collapses under its own weight, Life Inc. shows us how to build a real and human-scaled society to take its place.