Venture capital has been driven from the start by the pull of outsized returns through a skewed distribution of payoffs--a faith in low-probability but substantial financial rewards that rarely materialize. Whether the gamble is a whaling voyage setting sail from New Bedford or the newest startup in Silicon Valley, VC is not just a model of finance that has proven difficult to replicate in other countries. It is a state of mind exemplified by an appetite for risk-taking, a bold spirit of adventure, and an unbridled quest for improbable wealth through investment in innovation.Tom Nicholas's history of the venture capital industry offers readers a ride on the roller coaster of setbacks and success in America's pursuit of financial gain.

    Material goods came to embody the promise of America, and the power of consumers to purchase everything from vacuum cleaners to convertibles gave rise to the power of citizens to purchase political influence and effect social change. Yet despite undeniable successes and unprecedented affluence, mass consumption also fostered economic inequality and the fracturing of society along gender, class, and racial lines. In charting the complex legacy of our “Consumers’ Republic” Lizabeth Cohen has written a bold, encompassing, and profoundly influential book.

    He fell into the life of a sugar plantation owner by mere chance, but by the time he harvested his first crop, a revolution was fully under way: the farming of sugar cane, and the swiftly increasing demands for sugar worldwide, would not only lift George Ashby from abject poverty and shape the lives of his descendants, but it would also bind together ambitious white entrepreneurs and enslaved black workers in a strangling embrace. Stuart uses her own family story—from the seventeenth century through the present—as the pivot for this epic tale of migration, settlement, survival, slavery and the making of the Americas.As it grew, the sugar trade enriched Europe as never before, financing the Industrial Revolution and fueling the Enlightenment. And, as well, it became the basis of many economies in South America, played an important part in the evolution of the United States as a world power and transformed the Caribbean into an archipelago of riches. But this sweet and hugely profitable trade--“white gold,” as it was known--had profoundly less palatable consequences in its precipitation of the enslavement of Africans to work the fields on the islands and, ultimately, throughout the American continents.Interspersing the tectonic shifts of colonial history with her family’s experience, Stuart explores the interconnected themes of settlement, sugar and slavery with extraordinary subtlety and sensitivity. In examining how these forces shaped her own family--its genealogy, intimate relationships, circumstances of birth, varying hues of skin--she illuminates how her family, among millions of others like it, in turn transformed the society in which they lived, and how that interchange continues to this day. Shifting between personal and global history, Stuart gives us a deepened understanding of the connections between continents, between black and white, between men and women, between the free and the enslaved. It is a story brought to life with riveting and unparalleled immediacy, a story of fundamental importance to the making of our world.

    Drawing on unprecedented access to Rand's private papers and the original, unedited versions of Rand's journals, Jennifer Burns offers a groundbreaking reassessment of this key cultural figure, examining her life, her ideas, and her impact on conservative political thought.Goddess of the Market follows Rand from her childhood in Russia through her meteoric rise from struggling Hollywood screenwriter to bestselling novelist, including the writing of her wildly successful The Fountainhead and Atlas Shrugged. Burns highlights the two facets of Rand's work that make her a perennial draw for those on the right: her promotion of capitalism, and her defense of limited government. Both sprang from her early, bitter experience of life under Communism, and became among the most deeply enduring of her messages, attracting a diverse audience of college students and intellectuals, business people and Republican Party activists, libertarians and conservatives. The book also traces the development of Rand's Objectivist philosophy and her relationship with Nathaniel Branden, her closest intellectual partner, with whom she had an explosive falling out in 1968.One of the Denver Post's Great Reads of 2009One of Bloomberg News's Top Nonfiction Books of 2009Excellent.--Time magazineA terrific book--a serious consideration of Rand's ideas, and her role in the conservative movement of the past three quarters of a century.--The American ThinkerA wonderful book: beautifully written, completely balanced, extensively researched. The match between author and subject is so perfect that one might believe that the author was chosen by the gods to write this book. She has sympathy and affection for her subject but treats her as a human being, with no attempt to cover up the foibles.--Mises Economics Blog

    Authors Ned and Constance Sublette tell the brutal story of how the slavery industry made the reproductive labor of the people it referred to as “breeding women” essential to the young country’s expansion. Captive African Americans in the slave nation were not only laborers, but merchandise and collateral all at once. In a land without silver, gold, or trustworthy paper money, their children and their children’s children into perpetuity were used as human savings accounts that functioned as the basis of money and credit in a market premised on the continual expansion of slavery. Slaveowners collected interest in the form of newborns, who had a cash value at birth and whose mothers had no legal right to say no to forced mating.   This gripping narrative is driven by the power struggle between the elites of Virginia, the slave-raising “mother of slavery,” and South Carolina, the massive importer of Africans—a conflict that was central to American politics from the making of the Constitution through the debacle of the Confederacy. Virginia slaveowners won a major victory when Thomas Jefferson’s 1808 prohibition of the African slave trade protected the domestic slave markets for slave-breeding. The interstate slave trade exploded in Mississippi during the presidency of Andrew Jackson, drove the US expansion into Texas, and powered attempts to take over Cuba and other parts of Latin America, until a disaffected South Carolina spearheaded the drive to secession and war, forcing the Virginians to secede or lose their slave-breeding industry. Filled with surprising facts, fascinating incidents, and startling portraits of the people who made, endured, and resisted the slave-breeding industry, The American Slave Coast culminates in the revolutionary Emancipation Proclamation, which at last decommissioned the capitalized womb and armed the African Americans to fight for their freedom.

    As Jeff Madrick makes clear in a narrative at once sweeping, fast-paced, and incisive, the single-minded pursuit of huge personal wealth has been on the rise in the United States since the 1970s, led by a few individuals who have argued that self-interest guides society more effectively than community concerns. These stewards of American capitalism have insisted on the central and essential place of accumulated wealth through the booms, busts, and recessions of the last half century, giving rise to our current woes. In telling the stories of these politicians, economists, and financiers who declared a moral battle for freedom but instead gave rise to an age of greed, Madrick traces the lineage of some of our nation's most pressing economic problems. He begins with Walter Wriston, head of what would become Citicorp, who led the battle against government regulation. He examines the ideas of economist Milton Friedman, who created the plan for an anti-Rooseveltian America; the politically expedient decisions of Richard Nixon that fueled inflation; the philosophy of Alan Greenspan, on whose libertarian ideology a house of cards was built on Wall Street; and the actions of Sandy Weill, who constructed the largest financial institution in the world, which would have gone bankrupt in 2008 without a federal bailout of $45 billion. Significant figures including Ivan Boesky, Michael Milken, Jack Welch, and Ronald Reagan play key roles as well. Intense economic inequity and instability is the story of our age, and Jeff Madrick tells it with style, clarity, and an unerring command of his subject.

    Insightful, funny, and accessible, this biography-in-graphic-novel-form of the presidential candidate explains both his early life and political rise, but also shows the broader political shift that made it possible for a Jewish socialist to rally voters and become a real presidential contender.Political cartoonist and Kennedy Award winner Ted Rall interviewed Bernie Sanders at length for this book and delved deep into his background to create this one-of-a-kind biography. Sanders' upbringing in a struggling working-class family in a hardscrabble section of Brooklyn during the 1950s taught him that poverty is a disease, one that affects us all. Incredibly, the lessons he learned back then are revolutionizing the political process this year, marking the resurgence of political progressivism on the left at the same time as the two-party system seems to be on the way out. From McGovern’s 1972 loss to Nixon to the Occupy movement, Rall shows readers exactly how the American public was primed to embrace a socialist calling for a political revolution.

    Bacevich provides a searing reassessment of U.S. military policy in the Middle East over the past four decades. From the end of World War II until 1980, virtually no American soldiers were killed in action while serving in the Greater Middle East. Since 1990, virtually no American soldiers have been killed in action anywhere else. What caused this shift? Andrew J. Bacevich, one of the country’s most respected voices on foreign affairs, offers an incisive critical history of this ongoing military enterprise—now more than thirty years old and with no end in sight. During the 1980s, Bacevich argues, a great transition occurred. As the Cold War wound down, the United States initiated a new conflict—a War for the Greater Middle East—that continues to the present day. The long twilight struggle with the Soviet Union had involved only occasional and sporadic fighting. But as this new war unfolded, hostilities became persistent. From the Balkans and East Africa to the Persian Gulf and Central Asia, U.S. forces embarked upon a seemingly endless series of campaigns across the Islamic world. Few achieved anything remotely like conclusive success. Instead, actions undertaken with expectations of promoting peace and stability produced just the opposite. As a consequence, phrases like “permanent war” and “open-ended war” have become part of everyday discourse. Connecting the dots in a way no other historian has done before, Bacevich weaves a compelling narrative out of episodes as varied as the Beirut bombing of 1983, the Mogadishu firefight of 1993, the invasion of Iraq in 2003, and the rise of ISIS in the present decade. Understanding what America’s costly military exertions have wrought requires seeing these seemingly discrete events as parts of a single war. It also requires identifying the errors of judgment made by political leaders in both parties and by senior military officers who share responsibility for what has become a monumental march to folly. This Bacevich unflinchingly does. A twenty-year army veteran who served in Vietnam, Andrew J. Bacevich brings the full weight of his expertise to this vitally important subject. America’s War for the Greater Middle East is a bracing after-action report from the front lines of history. It will fundamentally change the way we view America’s engagement in the world’s most volatile region.Advance praise for America’s War for the Greater Middle East“In one arresting book after another, Bacevich has relentlessly laid bare the failings of American foreign policy since the Cold War. This one is his sad crowning achievement: the story of our long and growing military entanglement in the region of the most tragic, bitter, and intractable of conflicts.”—Richard K. Betts, director, Saltzman Institute of War and Peace Studies, Columbia University “An unparalleled historical tour de force certain to affect the formation of future U.S. foreign policy . . . Every citizen aspiring to high office needs not only to read but to study and learn from this important book. This is one of the most serious and essential books I have read in more than half a century of public service.”—Lieutenant General Paul K. Van Riper, U.S. Marine Corps (Ret.) “Bacevich asks and answers a provocative, inconvenient question: In a multigenerational war in the Middle East, ‘Why has the world’s mightiest military achieved so little?’ ”—Graham Allison, director, Belfer Center for Science and International Affairs, and Douglas Dillon Professor of Government at Harvard’s John F. Kennedy School of GovernmentFrom the Hardcover edition.

    This multigenerational saga follows the Kent family and their pursuit of a foothold and future in the expanding United States. From the family’s initial journey traveling to America’s shore to their voyage to the Western frontier, their fate is intertwined with the course of American history in these first three volumes of the series.  The Bastard: Denied his birthright as the illegitimate son of the Duke of Kentland, Philippe Charboneau seeks a new life in London, where he meets Benjamin Franklin and reads the works of patriot firebrand Sam Adams. Inspired by such brave new ideas, he travels to the American colonies at the brink of the Revolution. There he will choose his own name—Philip Kent—and finally decide his own fate.  The Rebels: Philip Kent fights as a Continental soldier at the Battle of Bunker Hill. In a bold move, he has taken up arms for the future of his new family. Spirited and unwavering in his dedication to his adopted homeland, Philip fights in the most violent battles in America’s early history. But far from the front lines, another battle rages that will sweep his wife, Anne, on her own perilous journey that may destroy all Philip has fought for.  The Seekers: Returning from fighting valiantly on the frontier, Abraham Kent—son of Philip and Anne—returns to Boston, only to realize that he cannot abide the confines of civilization. Determined not to live in his father’s shadow, he takes his young bride and settles on the American frontier. But the life of a pioneer comes at a high price, and the cost of Abraham’s restless ambitions may be more than he can bear.

    In the past two decades, deaths of despair from suicide, drug overdose, and alcoholism have risen dramatically, and now claim hundreds of thousands of American lives each year--and they're still rising. Anne Case and Angus Deaton, known for first sounding the alarm about deaths of despair, explain the overwhelming surge in these deaths and shed light on the social and economic forces that are making life harder for the working class. They demonstrate why, for those who used to prosper in America, capitalism is no longer delivering.Deaths of Despair and the Future of Capitalism paints a troubling portrait of the American dream in decline. For the white working class, today's America has become a land of broken families and few prospects. As the college educated become healthier and wealthier, adults without a degree are literally dying from pain and despair. In this critically important book, Case and Deaton tie the crisis to the weakening position of labor, the growing power of corporations, and, above all, to a rapacious health-care sector that redistributes working-class wages into the pockets of the wealthy. Capitalism, which over two centuries lifted countless people out of poverty, is now destroying the lives of blue-collar America.This book charts a way forward, providing solutions that can rein in capitalism's excesses and make it work for everyone.

    A concentration of power, whether in the hands of a military dictator or a JP Morgan, was understood as autocratic and dangerous to individual liberty and democracy. This idea stretched back to the country’s founding. In the 1930s, people observed that the Great Depression was caused by financial concentration in the hands of a few whose misuse of their power induced a financial collapse. They drew on this tradition to craft the New Deal. In Goliath, Matt Stoller explains how authoritarianism and populism have returned to American politics for the first time in eighty years, as the outcome of the 2016 election shook our faith in democratic institutions. It has brought to the fore dangerous forces that many modern Americans never even knew existed. Today’s bitter recriminations and panic represent more than just fear of the future, they reflect a basic confusion about what is happening and the historical backstory that brought us to this moment. The true effects of populism, a shrinking middle class, and concentrated financial wealth are only just beginning to manifest themselves under the current administrations. The lessons of Stoller’s study will only grow more relevant as time passes. Building upon his viral article in The Atlantic, “How the Democrats Killed Their Populist Soul,” Stoller illustrates in rich detail how we arrived at this tenuous moment, and the steps we must take to create a new democracy.

    The book continues to help students make sense of a complex world in transition and explains how globalization became part of public discourse. Filled with case studies, this text makes the intricacies of globalization concrete, meaningful, and clear for students and moves them away from simple social evolutionary views, encouraging them to connect social change, development policies, global inequalities and social movements. The book challenges students to see themselves as global citizens whose consumption decisions have real social and ecological implications.

    Excavating the lives of some of the multitudes of Britons held captive in the lands their own rulers sought to conquer, Colley also offers an intimate understanding of the peoples and cultures of the Mediterranean, North America, India, and Afghanistan.Here are harrowing, sometimes poignant stories by soldiers and sailors and their womenfolk, by traders and con men and by white as well as black slaves. By exploring these forgotten captives - and their captors - Colley reveals how Britain's emerging empire was often tentative and subject to profound insecurities and limitations. She evokes how British empire was experienced by the mass of poor whites who created it. She shows how imperial racism coexisted with cross-cultural collaborations, and how the gulf between Protestantism and Islam, which some have viewed as central to this empire, was often smaller than expected. Brilliantly written and richly illustrated, Captives is an invitation to think again about a piece of history too often viewed in the same old way. It is also a powerful contribution to current debates about the meanings, persistence, and drawbacks of empire.

    Once a hodgepodge of short, squabbling lines, America’s railways soon exploded into a titanic industry helmed by a pageant of speculators, crooks, and visionaries. The vicious competition between empire builders such as Cornelius Vanderbilt, Jay Gould, J. P. Morgan, and E. H. Harriman sparked stock market frenzies, panics, and crashes; provoked strikes that upended the relationship between management and labor; transformed the nation’s geography; and culminated in a ferocious two-man battle that shook the nation’s financial markets to their foundations and produced dramatic, lasting changes in the interplay of business and government.   Spanning four decades and featuring some of the most iconic figures of the Gilded Age, Iron Empires reveals how the robber barons drove the country into the twentieth century—and almost sent it off the rails.

    These nearly unknown, larger-than-life, and sometimes eccentric personalities--such as GE's zealous, silver-tongued Lemuel Ricketts Boulware and the self-described "revolutionary" Jasper Crane of DuPont--make for a fascinating, behind-the-scenes view of American history.The winner of a prestigious academic award for her original research on this book, Kim Phillips-Fein is already being heralded as an important new young American historian. Her meticulous research and narrative gifts reveal the dramatic story of a pragmatic, step-by-step, check-by-check campaign to promote an ideological revolution--one that ultimately helped propel conservative ideas to electoral triumph.