A provocative and contrarian work—filled with great lessons from history—that challenges the pervasive notion that America is on the decline.

    

    This restoration project has yielded a collection to treasure. After years of hard work and preparation, we can only report that it is an emotionally thrilling moment to finally offer to the general public. Claude Frédéric Bastiat was an economist and publicist of breathtaking intellectual energy and massive historical influence. He was born in Bayonne, France on June 29th, 1801. After the middle-class Revolution of 1830, Bastiat became politically active and was elected Justice of the Peace in 1831 and to the Council General (county-level assembly) in 1832. He was elected to the national legislative assembly after the French Revolution of 1848. Bastiat was inspired by and routinely corresponded with Richard Cobden and the English Anti-Corn Law League and worked with free-trade associations in France. Bastiat wrote sporadically starting in the 1830s, but in 1844 he launched his amazing publishing career when an article on the effects of protectionism on the French and English people was published in the Journal des Economistes which was held to critical acclaim. The bulk of his remarkable writing career that so inspired the early generation of English translators and so many more is contained in this collection. If we were to take the greatest economists from all ages and judge them on the basis of their theoretical rigor, their influence on economic education, and their impact in support of the free-market economy, then Frédéric Bastiat would be at the top of the list. These volumes bring together his greatest works and represents the early generation of English translations. These translators were like Bastiat himself, people from the private sector who had a love of knowledge and truth and who altered their careers to vigorously pursue intellectual ventures, scholarly publishing, and advocacy of free trade. The collection consists of three sections, the first of which contains his best-known essays. In That Which is Seen, and That Which is Not Seen, Bastiat equips the reader to become an economist in the first paragraph and then presents the story of the broken window where a hoodlum is thought to create jobs and prosperity by breaking windows. Bastiat solves the quandary of prosperity via destruction by noting that while the apparent prosperity is seen, what is unseen is that which would have been produced had the windows not been broken. The second section is Bastiat s Economic Sophisms, a collection of 35 articles on the errors of protectionism broadly conceived. Here Bastiat shows his mastery of the methods of argumentation, using basic logic and taking arguments to their logical extreme to demonstrate and ridicule them as obvious fallacies. In his Negative Railroad Bastiat argues that if an artificial break in a railroad causes prosperity by creating jobs for boatmen, porters, and hotel owners, then there should be not one break, but many, and indeed the railroad should be just a series of breaks a negative railroad. The third section is Bastiat's Economic Harmonies which was hastily written before his death in 1850 and is considered incomplete. Here he demonstrates that the interests of everyone in society are in harmony to the extent that property rights are respected. Because there are no inherent conflicts in the market, government intervention is unnecessary. Here we find a powerful but sadly neglected defense of the main thesis of old-style liberalism: that society and economy are capable of self-managing. Unless this insight is understood and absorbed, a person can never really come to grips with the main meaning of liberty.

     Alan Beattie has long been intrigued by the fates of different countries, economies, and societies-why some fail and some succeed. Here, he weaves together elements of economics, history, politics, and human stories, revealing that societies, economies, and countries usually make concrete choices that determine their destinies. He opens up larger questions about these choices, and why countries make them or are driven to make them, and what those decisions can mean for the future of our global economy. Economic history involves forcing together disciplines that fall naturally in different directions. But Beattie has written a lively and lucid book that successfully marries the two subjects and illustrates their interdependence. In doing so, he addresses such illuminating queries as: Why are oil and diamonds more trouble than they are worth? Why did Argentina fail and the United States succeed? Why doesn't Africa grow cocaine? "False Economy" explains how human beings have shaped their own fates, however unknowingly, and the conditions of the countries they call home. And though it is history, it does not end with the present day. Beattie shows how decisions that are being made now-which have either absorbed or failed to absorb the lessons from economic history-will determine what happens in the future. What does economic history teach us about the present economic unrest? Who will succeed and why? And who will fail? These are questions that we cannot afford to leave unasked . . . or unanswered.

    It captures their key beliefs, explores their backgrounds, assesses their thinking and evaluates their legacy. It explains the schools of thought named after them and clearly shows how they influence our everyday lives.

    . . Overhaul is a feast of political and financial intrigue.†—Detroit Free PressIn Overhaul, Steven Rattner delivers an inside account of the Obama administration's bold bid to save the auto industry. From his vantage point at the helm of the intervention, Rattner crafts a tightly plotted narrative of political brinksmanship, corporate incompetence, and personalities under pressure in a high-stakes drama of Washington and Detroit. He also explains the tough choices he and his team made to keep Chrysler and GM in operation—while working against the clock in the face of intense lobbying from staunch Democratic allies and vocal opposition from free-market partisans.     Overhaul is a candid, gripping story of one of the most difficult crises of President Obama's first year in office, with lessons relevant for all managers and executives.“[An] exhaustive, detailed account . . . Overhaul will certainly be on the bookshelf of every bankruptcy attorney in the country, and become required reading for public policy and law students.†—New York Times“Unquestionably the best book so far about the Obama presidency.†—SlateWith a new epilogue

    But satisfactory answers have been hard to find for lack of adequate data and clear guiding theories. In Capital in the Twenty-First Century, Thomas Piketty analyzes a unique collection of data from twenty countries, ranging as far back as the eighteenth century, to uncover key economic and social patterns. His findings will transform debate and set the agenda for the next generation of thought about wealth and inequality.Piketty shows that modern economic growth and the diffusion of knowledge have allowed us to avoid inequalities on the apocalyptic scale predicted by Karl Marx. But we have not modified the deep structures of capital and inequality as much as we thought in the optimistic decades following World War II. The main driver of inequality—the tendency of returns on capital to exceed the rate of economic growth—today threatens to generate extreme inequalities that stir discontent and undermine democratic values. But economic trends are not acts of God. Political action has curbed dangerous inequalities in the past, Piketty says, and may do so again.

    America’s demand for change in the 2008 election will cause another of our country’s periodic political makeovers. This realignment, like all others before it, will result from the coming of age of a new generation of young Americans—the Millennial Generation—and the full emergence of the Internet-based communications technology that this generation uses so well. Beginning in 2008, almost everything about American politics and government will transform—voting patterns, the fortunes of the two political parties, the issues that engage the nation, and our government and its public policy. Building on the seminal work of previous generational theorists,Morley Winograd and Michael D. Hais demonstrate and describe, for the first time, the two types of realignments—“idealist” and “civic”—that have alternated with one another throughout the nation’s history.  Based on these patterns, Winograd and Hais predict that the next realignment will be very different from the last one that occurred in 1968. “Idealist” realignments, like the one put into motion forty years ago by the Baby Boomer Generation, produce, among other things, a political emphasis on divisive social issues and governmental gridlock. “Civic” realignments, like the one that is coming, and the one produced by the famous GI or “Greatest” Generation in the 1930s, by contrast, tend to produce societal unity, increased attention to and successful resolution of basic economic and foreign policy issues, and institution-building. The authors detail the contours and causes of the country’s five previous political makeovers, before delving deeply into the generational and technological trends that will shape the next.  The book’s final section forecasts the impact of the Millennial Makeover on the elections, issues, and public policies that will characterize America’s politics in the decades ahead. For additional information go to:Millennial Makeover website.

    economy and economies around the world. In this trenchant book, best-selling economist Robert Shiller reveals the origins of this crisis and puts forward bold measures to solve it. He calls for an aggressive response--a restructuring of the institutional foundations of the financial system that will not only allow people once again to buy and sell homes with confidence, but will create the conditions for greater prosperity in America and throughout the deeply interconnected world economy.Shiller blames the subprime crisis on the irrational exuberance that drove the economy's two most recent bubbles--in stocks in the 1990s and in housing between 2000 and 2007. He shows how these bubbles led to the dangerous overextension of credit now resulting in foreclosures, bankruptcies, and write-offs, as well as a global credit crunch. To restore confidence in the markets, Shiller argues, bailouts are needed in the short run. But he insists that these bailouts must be targeted at low-income victims of subprime deals. In the longer term, the subprime solution will require leaders to revamp the financial framework by deploying an ambitious package of initiatives to inhibit the formation of bubbles and limit risks, including better financial information; simplified legal contracts and regulations; expanded markets for managing risks; home equity insurance policies; income-linked home loans; and new measures to protect consumers against hidden inflationary effects.This powerful book is essential reading for anyone who wants to understand how we got into the subprime mess--and how we can get out.

    Now, in a brilliant series of essays written over the last three years, Johnson measures that price and the resulting dangers America faces. Our reliance on Pentagon economics, a global empire of bases, and war without end is, he declares, nothing short of "a suicide option.""Dismantling the Empire" explores the subjects for which Johnson is now famous, from the origins of blowback to Barack Obama's Afghanistan conundrum, including our inept spies, our bad behavior in other countries, our ill-fought wars, and our capitulation to a military that has taken ever more control of the federal budget. There is, he proposes, only one way out: President Obama must begin to dismantle the empire before the Pentagon dismantles the American Dream. If we do not learn from the fates of past empires, he suggests, our decline and fall are foreordained. This is Johnson at his best: delivering both a warning and an urgent prescription for a remedy.

    This paperback edition has been fully revised and updated to include Vince Cable’s latest assessment of the recession.

    To mark the event, National Geographic magazine commissioned seven articles that explore the fascinating issues—including demographics, food security, climate change, fertility trends, managing biodiversity—surrounding this topic, which are collected for the first time in this special ebook.   Envi­ronment editor Robert Kunzig starts by sketching out a natural history of population. The issues associated with population growth seem endless: poverty, food and water supply, world health, climate change, deforestation, fertility rates, and more. In additional chapters Elizabeth Kolbert explores a new era—the “Anthropocene,” or the age of man—defined by our massive impact on the planet, which will endure long after our cities have crumbled; and takes us to the Mediterranean, where she delves into issues associated with increasing ocean acidification. In Bangladesh, Don Belt explores how the people of this crowded region can teach us about adapting to rising sea levels. In “Food Ark” we travel deep within the earth and around the globe to explore the seed banks that are preserving the variety of food species we may need to increase food production on an increasingly crowded planet. In Brazil, Cynthia Gournay explores the phenomenon of “Machisma” and shows how a mix of female empowerment and steamy soap operas helped bring down Brazil’s fertility rate and stoke its vibrant economy. Additionally we explore threats to biodiversity, and the return of cities—which may be the solution to many of our population woes. Join National Geographic on this incredible journey to explore our rapidly growing planet.

    It's bad for society, especially now. . . . Call me crotchety, but I can't help asking, whatever happened to the social contract?'The get-rich-quick exuberance of the late nineties may have temporarily blinded us to how dependent we are on one another. Subsequent events serve as reminders that the strength of our economy and the security of our society rest on the bonds that connect us. But what, specifically, are these bonds? What do we owe one another as members of the same society?With his characteristic humor, humanity, and candor, one of the nation's most distinguished public leaders and thinkers delivers a fresh vision of politics by returning to basic American values: workers should share in the success of their companies; those who work should not have to live in poverty; and everyone should have access to an education that will better their chances in life.An insider who knows how the economy and government really work, Reich combines realistic solutions with democratic ideals. Businesses do have civic responsibilities, and government must stem a widening income gap that threatens to stratify our nation. And everyone must get involved to help return us to a society that works for everyone.

    Written not from a post-crisis perspective – but from a preventative point of view – this book traces the development of financial derivatives from bonds to credit default swaps, and shows how mathematical formulas went beyond pricing to expand their use to the point where they dwarfed the real economy. You'll learn how the deadly allure of their ice-cold beauty has misled generations of economists and investors, and how continued reliance on these formulas can either assist future economic development, or send the global economy into the financial equivalent of a cardiac arrest. Rather than rehash tales of post-crisis fallout, this book focuses on preventing the next one. By exploring the heart of the shadow economy, you'll be better prepared to ride the rough waves of finance into the turbulent future. Delve into one of the world's least-understood but highest-impact industries Understand the key principles of quantitative finance and the evolution of the field Learn what quantitative finance has become, and how it affects us all Discover how the industry's next steps dictate the economy's future How do you create a quadrillion dollars out of nothing, blow it away and leave a hole so large that even years of "quantitative easing" can't fill it – and then go back to doing the same thing? Even amidst global recovery, the financial system still has the potential to seize up at any moment. The Money Formula explores the how and why of financial disaster, what must happen to prevent the next one.

    Any ambitious proposal, however, inevitably runs into the buzz saw of how to find the money to pay for it, rooted in myths about deficits that are hobbling us as a country.Kelton busts through the myths that prevent us from taking action: that the federal government should budget like a household, that deficits will harm the next generation, crowd out private investment, and undermine long-term growth, and that entitlements are propelling us toward a grave fiscal crisis.MMT, as Kelton shows, shifts the terrain from narrow budgetary questions to one of broader economic and social benefits. With its important new ways of understanding money, taxes, and the critical role of deficit spending, MMT redefines how to responsibly use our resources so that we can maximize our potential as a society. MMT gives us the power to imagine a new politics and a new economy and move from a narrative of scarcity to one of opportunity.