Now, he faces his most important—and difficult—audience yet. Using clear language and vivid examples, Varoufakis offers a series of letters to his young daughter about the economy: how it operates, where it came from, how it benefits some while impoverishing others. Taking bankers and politicians to task, he explains the historical origins of inequality among and within nations, questions the pervasive notion that everything has its price, and shows why economic instability is a chronic risk. Finally, he discusses the inability of market-driven policies to address the rapidly declining health of the planet his daughter’s generation stands to inherit.Throughout, Varoufakis wears his expertise lightly. He writes as a parent whose aim is to instruct his daughter on the fundamental questions of our age—and through that knowledge, to equip her against the failures and obfuscations of our current system and point the way toward a more democratic alternative.

    Originally published in England in the spring of 1944—when Eleanor Roosevelt supported the efforts of Stalin, and Albert Einstein subscribed lock, stock, and barrel to the socialist program—The Road to Serfdom was seen as heretical for its passionate warning against the dangers of state control over the means of production. For F. A. Hayek, the collectivist idea of empowering government with increasing economic control would inevitably lead not to a utopia but to the horrors of nazi Germany and fascist Italy.First published by the University of Chicago Press on September 18, 1944, The Road to Serfdom garnered immediate attention from the public, politicians, and scholars alike. The first printing of 2,000 copies was exhausted instantly, and within six months more than 30,000 were sold. In April of 1945, Reader's Digest published a condensed version of the book, and soon thereafter the Book-of-the-Month Club distributed this condensation to more than 600,000 readers. A perennial best-seller, the book has sold over a quarter of a million copies in the United States, not including the British edition or the nearly twenty translations into such languages as German, French, Dutch, Swedish, and Japanese, and not to mention the many underground editions produced in Eastern Europe before the fall of the iron curtain.After thirty-two printings in the United States, The Road to Serfdom has established itself alongside the works of Alexis de Tocqueville, John Stuart Mill, and George Orwell for its timeless meditation on the relation between individual liberty and government authority. This fiftieth anniversary edition, with a new introduction by Milton Friedman, commemorates the enduring influence of The Road to Serfdom on the ever-changing political and social climates of the twentieth century, from the rise of socialism after World War II to the Reagan and Thatcher "revolutions" in the 1980s and the transitions in Eastern Europe from communism to capitalism in the 1990s.F. A. Hayek (1899-1992), recipient of the Medal of Freedom in 1991 and co-winner of the Nobel Memorial Prize in Economics in 1974, was a pioneer in monetary theory and the principal proponent of libertarianism in the twentieth century.On the first American edition of The Road to Serfdom:"One of the most important books of our generation. . . . It restates for our time the issue between liberty and authority with the power and rigor of reasoning with which John Stuart Mill stated the issue for his own generation in his great essay On Liberty. . . . It is an arresting call to all well-intentioned planners and socialists, to all those who are sincere democrats and liberals at heart to stop, look and listen."—Henry Hazlitt, New York Times Book Review, September 1944"In the negative part of Professor Hayek's thesis there is a great deal of truth. It cannot be said too often—at any rate, it is not being said nearly often enough—that collectivism is not inherently democratic, but, on the contrary, gives to a tyrannical minority such powers as the Spanish Inquisitors never dreamt of."—George Orwell, Collected Essays

    This book explains how the system works and where it may be moving.Drawing on Chinese and international sources, on extensive collaboration with Chinese scholars, and on the political science of state analysis, Stein Ringen concludes that under the new leadership of Xi Jinping, the system of government has been transformed into a new regime radically harder and more ideological than the legacy of Deng Xiaoping. China is less strong economically and more dictatorial politically than the world has wanted to believe.By analyzing the leadership of Xi Jinping, the meaning of "socialist market economy," corruption, the party-state apparatus, the reach of the party, the mechanisms of repression, taxation and public services, and state-society relations, "The Perfect Dictatorship" broadens the field of China studies, as well as the fields of political economy, comparative politics, development, and welfare state studies.

    The shift toward automation is about to create a tsunami of unemployment. Not in the distant future—now. One recent estimate predicts 45 million American workers will lose their jobs within the next twelve years—jobs that won't be replaced. In a future marked by restlessness and chronic unemployment, what will happen to American society? In The War on Normal People, Andrew Yang paints a dire portrait of the American economy. Rapidly advancing technologies like artificial intelligence, robotics and automation software are making millions of Americans' livelihoods irrelevant. The consequences of these trends are already being felt across our communities in the form of political unrest, drug use, and other social ills. The future looks dire-but is it unavoidable? In The War on Normal People, Yang imagines a different future—one in which having a job is distinct from the capacity to prosper and seek fulfillment. At this vision's core is Universal Basic Income, the concept of providing all citizens with a guaranteed income-and one that is rapidly gaining popularity among forward-thinking politicians and economists. Yang proposes that UBI is an essential step toward a new, more durable kind of economy, one he calls "human capitalism."

    Drawing on historical records as well as his conversations with Chinese leaders over the past forty years, Kissinger examines how China has approached diplomacy, strategy, and negotiation throughout its history, and reflects on the consequences for the global balance of power in the 21st century. Since no other country can claim a more powerful link to its ancient past and classical principles, any attempt to understand China's future world role must begin with an appreciation of its long history. For centuries, China rarely encountered other societies of comparable size and sophistication; it was the "Middle Kingdom," treating the peoples on its periphery as vassal states. At the same time, Chinese statesmen-facing threats of invasion from without, and the contests of competing factions within-developed a canon of strategic thought that prized the virtues of subtlety, patience, and indirection over feats of martial prowess. In On China, Kissinger examines key episodes in Chinese foreign policy from the classical era to the present day, with a particular emphasis on the decades since the rise of Mao Zedong. He illuminates the inner workings of Chinese diplomacy during such pivotal events as the initial encounters between China and modern European powers, the formation and breakdown of the Sino-Soviet alliance, the Korean War, Richard Nixon's historic trip to Beijing, and three crises in the Taiwan Straits. Drawing on his extensive personal experience with four generation of Chinese leaders, he brings to life towering figures such as Mao, Zhou Enlai, and Deng Xiaoping, revealing how their different visions have shaped China's modern destiny. With his singular vantage on U.S.-China relations, Kissinger traces the evolution of this fraught but crucial relationship over the past 60 years, following its dramatic course from estrangement to strategic partnership to economic interdependence, and toward an uncertain future. With a final chapter on the emerging superpower's 21st-century world role, On China provides an intimate historical perspective on Chinese foreign affairs from one of the premier statesmen of the 20th century.

    Financialization over the past three decades has created a structure that lacks resilience and supports absurd volumes of trading. The finance sector devotes too little attention to the search for new investment opportunities and the stewardship of existing ones, and far too much to secondary-market dealing in existing assets. Regulation has contributed more to the problems than the solutions.Why? What is finance for? John Kay, with wide practical and academic experience in the world of finance, understands the operation of the financial sector better than most. He believes in good banks and effective asset managers, but good banks and effective asset managers are not what he sees.In a dazzling and revelatory tour of the financial world as it has emerged from the wreckage of the 2008 crisis, Kay does not flinch in his criticism: we do need some of the things that Citigroup and Goldman Sachs do, but we do not need Citigroup and Goldman to do them. And many of the things done by Citigroup and Goldman do not need to be done at all. The finance sector needs to be reminded of its primary purpose: to manage other people's money for the benefit of businesses and households. It is an aberration when the some of the finest mathematical and scientific minds are tasked with devising algorithms for the sole purpose of exploiting the weakness of other algorithms for computerized trading in securities. To travel further down that road leads to ruin.

    But as the free market reaches its extreme limits in the economic and environmental fallout, a reassessment of capitalism's most vigorous and eloquent enemy has never been more timely. Eric Hobsbawm provides a fascinating and insightful overview of Marxism. He investigates its influences and analyses the spectacular reversal of Marxism's fortunes over the past thirty years.

    And yet the transformation of Eastern European countries gave rise to a bitter repudiation of liberalism itself, not only there but also back in the heartland of the West.In this work of political psychology, Ivan Krastev and Stephen Holmes argue that the supposed end of history turned out to be only the beginning of an Age of Imitation. Reckoning with the history of the last thirty years, they show that the most powerful force behind the wave of populist xenophobia that began in Eastern Europe stems from resentment at the post-1989 imperative to become Westernized.Through this prism, the Trump revolution represents an ironic fulfillment of the promise that the nations exiting from communist rule would come to resemble the United States. In a strange twist, Trump has elevated Putin's Russia and Orbán's Hungary into models for the United States.

    In The Third Pillar he offers up a magnificent big-picture framework for understanding how these three forces--the state, markets, and our communities--interact, why things begin to break down, and how we can find our way back to a more secure and stable plane.The "third pillar" of the title is the community we live in. Economists all too often understand their field as the relationship between markets and the state, and they leave squishy social issues for other people. That's not just myopic, Rajan argues; it's dangerous. All economics is actually socioeconomics - all markets are embedded in a web of human relations, values and norms. As he shows, throughout history, technological phase shifts have ripped the market out of those old webs and led to violent backlashes, and to what we now call populism. Eventually, a new equilibrium is reached, but it can be ugly and messy, especially if done wrong.Right now, we're doing it wrong. As markets scale up, the state scales up with it, concentrating economic and political power in flourishing central hubs and leaving the periphery to decompose, figuratively and even literally. Instead, Rajan offers a way to rethink the relationship between the market and civil society and argues for a return to strengthening and empowering local communities as an antidote to growing despair and unrest. Rajan is not a doctrinaire conservative, so his ultimate argument that decision-making has to be devolved to the grass roots or our democracy will continue to wither, is sure to be provocative. But even setting aside its solutions, The Third Pillar is a masterpiece of explication, a book that will be a classic of its kind for its offering of a wise, authoritative and humane explanation of the forces that have wrought such a sea change in our lives.

    This is the view of Ayn Rand, a view so radically opposed to prevailing attitudes that it constitutes a major philosophic revolution. In this series of essays, she presents her stand on the persecution of big business, the causes of war, the default of conservatism, and the evils of altruism. Here is a challenging new look at modern society by one of the most provocative intellectuals on the American scene.   This edition includes two articles by Ayn Rand that did not appear in the hardcover edition: “The Wreckage of the Consensus,” which presents the Objectivists’ views on Vietnam and the draft; and “Requiem for Man,” an answer to the Papal encyclical Progresso Populorum.

    Pan offers an unprecedented inside look at the momentous battle underway for China's future. On one side is the entrenched party elite determined to preserve its authoritarian grip on power. On the other is a collection of lawyers, journalists, entrepreneurs, activists, hustlers, and dreamers striving to build a more tolerant, open, and democratic China. The outcome of this dramatic, hidden struggle will shape China's rise to superpower status-and determine how it affects the rest of the world.From factories in the rusting industrial northeast to a tabloid newsroom in the booming south, from a small-town courtroom to the plush offices of the nation's wealthiest tycoons, Pan speaks with men and women fighting and sacrificing for change. An elderly surgeon exposes the government's cover-up of the SARS epidemic. A filmmaker investigates the execution of a student in the Cultural Revolution. A blind man is jailed for leading a crusade against forced abortions carried out under the one-child policy.Out of Mao's Shadow offers a startling perspective on China and its remarkable transformation, challenging conventional wisdom about the political apathy of the Chinese people and the notion that prosperity leads automatically to freedom. Like David Remnick's Lenin's Tomb, this is the moving story of a nation in transition, of a people coming to terms with their past.

    Anchored by six megabanks—Bank of America, JPMorgan Chase, Citigroup, Wells Fargo, Goldman Sachs, and Morgan Stanley—which together control assets amounting, astonishingly, to more than 60 percent of the country’s gross domestic product, these financial institutions (now more emphatically “too big to fail”) continue to hold the global economy hostage, threatening yet another financial meltdown with their excessive risk-taking and toxic “business as usual” practices. How did this come to be—and what is to be done? These are the central concerns of 13 Bankers, a brilliant, historically informed account of our troubled political economy. In 13 Bankers, Simon Johnson—one of the most prominent and frequently cited economists in America (former chief economist of the International Monetary Fund, Professor of Entrepreneurship at MIT, and author of the controversial “The Quiet Coup” in The Atlantic)—and James Kwak give a wide-ranging, meticulous, and bracing account of recent U.S. financial history within the context of previous showdowns between American democracy and Big Finance: from Thomas Jefferson to Andrew Jackson, from Theodore Roosevelt to Franklin Delano Roosevelt. They convincingly show why our future is imperiled by the ideology of finance (finance is good, unregulated finance is better, unfettered finance run amok is best) and by Wall Street’s political control of government policy pertaining to it. As the authors insist, the choice that America faces is stark: whether Washington will accede to the vested interests of an unbridled financial sector that runs up profits in good years and dumps its losses on taxpayers in lean years, or reform through stringent regulation the banking system as first and foremost an engine of economic growth. To restore health and balance to our economy, Johnson and Kwak make a radical yet feasible and focused proposal: reconfigure the megabanks to be “small enough to fail.” Lucid, authoritative, crucial for its timeliness, 13 Bankers is certain to be one of the most discussed and debated books of 2010.

    China is the sole exception, and it is fast emerging into a global superpower that could rival, if not eclipse, the UnitedStates. What does China want, does it have a grand strategy to achieve it, and what should the United States do about it?In The Long Game, Rush Doshi draws from a rich base of Chinese primary sources, including decades worth of party documents, leaked materials, memoirs by party leaders, and a careful analysis of China's conduct to provide a history of China's grand strategy since the end of the Cold War. Takingreaders behind the Party's closed doors, he uncovers Beijing's long, methodical game to displace America from its hegemonic position in both the East Asia regional and global orders through three sequential strategies of displacement. Beginning in the 1980s, China focused for two decades onhiding capabilities and biding time. After the 2008 Global Financial Crisis, it became more assertive regionally, following a policy of actively accomplishing something. Finally, in the aftermath populist elections of 2016, China shifted to an even more aggressive strategy for undermining UShegemony, adopting the phrase great changes unseen in century. After charting how China's long game has evolved, Doshi offers a comprehensive yet asymmetric plan for an effective US response. Ironically, his proposed approach takes a page from Beijing's own strategic playbook to undermine China'sambitions and strengthen American order without competing dollar-for-dollar, ship-for-ship, or loan-for-loan.

    In this critical take on China’s future, economist George Magnus explores four key traps that China must confront and overcome in order to thrive: debt, middle income, the Renminbi, and an aging population. Looking at the political direction President Xi Jinping is taking, Magnus argues that Xi’s authoritarian and repressive philosophy is ultimately not compatible with the country’s economic aspirations. Thorough and well researched, the book also investigates the potential for conflicts over trade, China’s evolving relationship with Trump, and the country’s attempt to win influence and control in Eurasia through the Belt and Road initiative.

    It imagines passing clouds to be permanent and is blind to powerful, long-term shifts taking place in full view of the world.” —George Friedman In his long-awaited and provocative new book, George Friedman turns his eye on the future—offering a lucid, highly readable forecast of the changes we can expect around the world during the twenty-first century. He explains where and why future wars will erupt (and how they will be fought), which nations will gain and lose economic and political power, and how new technologies and cultural trends will alter the way we live in the new century.The Next 100 Years draws on a fascinating exploration of history and geopolitical patterns dating back hundreds of years. Friedman shows that we are now, for the first time in half a millennium, at the dawn of a new era—with changes in store, including:• The U.S.-Jihadist war will conclude—replaced by a second full-blown cold war with Russia.• China will undergo a major extended internal crisis, and Mexico will emerge as an important world power.• A new global war will unfold toward the middle of the century between the United States and an unexpected coalition from Eastern Europe, Eurasia, and the Far East; but armies will be much smaller and wars will be less deadly.• Technology will focus on space—both for major military uses and for a dramatic new energy resource that will have radical environmental implications.• The United States will experience a Golden Age in the second half of the century.Written with the keen insight and thoughtful analysis that has made George Friedman a renowned expert in geopolitics and forecasting, The Next 100 Years presents a fascinating picture of what lies ahead.For continual, updated analysis and supplemental material, go to www.Stratfor.com