But to do so robs the millions who suffered in bondage of their full legacy.As historian Edward Baptist reveals in The Half Has Never Been Told, the expansion of slavery in the first eight decades after American independence drove the evolution and modernization of the United States. In the span of a single lifetime, the South grew from a narrow coastal strip of worn-out tobacco plantations to a continental cotton empire, and the United States grew into a modern, industrial, and capitalist economy. Until the Civil War, Baptist explains, the most important American economic innovations were ways to make slavery ever more profitable. Through forced migration and torture, slave owners extracted continual increases in efficiency from enslaved African Americans. Thus the United States seized control of the world market for cotton, the key raw material of the Industrial Revolution, and became a wealthy nation with global influence.Told through intimate slave narratives, plantation records, newspapers, and the words of politicians, entrepreneurs, and escaped slaves, The Half Has Never Been Told offers a radical new interpretation of American history. It forces readers to reckon with the violence at the root of American supremacy, but also with the survival and resistance that brought about slavery’s end—and created a culture that sustains America’s deepest dreams of freedom.

    She doesn’t talk about high finance or managing money; instead, she goes far deeper to explore debt as an ancient and central motif in religion, literature, and the structure of human societies. By looking at how debt has informed our thinking from preliterate times to the present day, from the stories we tell of revenge and sin to the way we order social relationships, Atwood argues that the idea of what we owe may well be built into the human imagination as one of its most dynamic metaphors. Her final lecture addresses the notion of a debt to nature and the need to find new ways of interacting with the natural world before it is too late.

    This book is a blueprint for that organizing. In these pages, you will learn how monopolies and oligopolies have taken over almost every aspect of American life, and you will also learn about what can be done to stop that trend before it is too late." —From the foreword by Bernie Sanders.A passionate attack on the monopolies that are throttling American democracy.Every facet of American life is being overtaken by big platform monopolists like Facebook, Google, and Bayer (which has merged with the former agricultural giant Monsanto), resulting in a greater concentration of wealth and power than we've seen since the Gilded Age. They are evolving into political entities that often have more influence than the actual government, bending state and federal legislatures to their will and even creating arbitration courts that circumvent the US justice system. How can we recover our freedom from these giants? Anti-corruption scholar and activist Zephyr Teachout has the answer: Break 'Em Up.This book is a clarion call for liberals and leftists looking to find a common cause. Teachout makes a compelling case that monopolies are the root cause of many of the issues that today's progressives care about; they drive economic inequality, harm the planet, limit the political power of average citizens, and historically-disenfranchised groups bear the brunt of their shameful and irresponsible business practices. In order to build a better future, we must eradicate monopolies from the private sector and create new safeguards that prevent new ones from seizing power.Through her expert analysis of monopolies in several sectors and their impact on courts, journalism, inequality, and politics, Teachout offers a concrete path toward thwarting these enemies of working Americans and reclaiming our democracy before it’s too late.

    The economic narratives that underpinned these eras—the gold standard, the Bretton Woods regime, the "Washington Consensus"—brought great success and great failure. In this eloquent challenge to the reigning wisdom on globalization, Dani Rodrik offers a new narrative, one that embraces an ineluctable tension: we cannot simultaneously pursue democracy, national self-determination, and economic globalization. When the social arrangements of democracies inevitably clash with the international demands of globalization, national priorities should take precedence. Combining history with insight, humor with good-natured critique, Rodrik's case for a customizable globalization supported by a light frame of international rules shows the way to a balanced prosperity as we confront today's global challenges in trade, finance, and labor markets.

    When it first appeared the New English Weekly predicted that 'for the next five to ten years it will cetainly remain a work with which no one who professes any degree of information on sociology or economics can afford to be unacquainted.' Fifty years on, this prediction seems a little understated.Why has the work endured so well? Schumpeter's contention that the seeds of capitalism's decline were internal, and his equal and opposite hostility to centralist socialism have perplexed, engaged and infuriated readers since the book's publication. By refusing to become an advocate for either position Schumpeter was able both to make his own great and original contribution and to clear the way for a more balanced consideration of the most important social movements of his and our time.

    For the first time, the major developed economies began to invest more in intangible assets, like design, branding, R&D, and software, than in tangible assets, like machinery, buildings, and computers. For all sorts of businesses, from tech firms and pharma companies to coffee shops and gyms, the ability to deploy assets that one can neither see nor touch is increasingly the main source of long-term success.But this is not just a familiar story of the so-called new economy. Capitalism without Capital shows that the growing importance of intangible assets has also played a role in some of the big economic changes of the last decade. The rise of intangible investment is, Jonathan Haskel and Stian Westlake argue, an underappreciated cause of phenomena from economic inequality to stagnating productivity.Haskel and Westlake bring together a decade of research on how to measure intangible investment and its impact on national accounts, showing the amount different countries invest in intangibles, how this has changed over time, and the latest thinking on how to assess this. They explore the unusual economic characteristics of intangible investment, and discuss how these features make an intangible-rich economy fundamentally different from one based on tangibles.Capitalism without Capital concludes by presenting three possible scenarios for what the future of an intangible world might be like, and by outlining how managers, investors, and policymakers can exploit the characteristics of an intangible age to grow their businesses, portfolios, and economies.

    Big businesses, drug barons, insurers, accountants and international bureaucrats all encroach on the so-called sovereignty of the state. Professor Strange examines the implications of this rivalry and points to some new directions for research in international relations, international business and economics.

    A New York Times Notable Book of 2017For most of Western history, Sitaraman argues, constitutional thinkers assumed economic inequality was inevitable and inescapable--and they designed governments to prevent class divisions from spilling over into class warfare. The American Constitution is different. Compared to Europe and the ancient world, America was a society of almost unprecedented economic equality, and the founding generation saw this equality as essential for the preservation of America's republic. Over the next two centuries, generations of Americans fought to sustain the economic preconditions for our constitutional system. But today, with economic and political inequality on the rise, Sitaraman says Americans face a choice: Will we accept rising economic inequality and risk oligarchy or will we rebuild the middle class and reclaim our republic?The Crisis of the Middle-Class Constitution is a tour de force of history, philosophy, law, and politics. It makes a compelling case that inequality is more than just a moral or economic problem; it threatens the very core of our constitutional system.

    . . that will get your heart pumping and your blood boiling and that will remind you why we’re in these fights—add this one to your list.” —Senator Elizabeth Warren on David Dayen’s Chain of Title Over the last forty years our choices have narrowed, our opportunities have shrunk, and our lives have become governed by a handful of very large and very powerful corporations. Today, practically everything we buy, everywhere we shop, and every service we secure comes from a heavily concentrated market.This is a world where four major banks control most of our money, four airlines shuttle most of us around the country, and four major cell phone providers connect most of our communications. If you are sick you can go to one of three main pharmacies to fill your prescription, and if you end up in a hospital almost every accessory to heal you comes from one of a handful of large medical suppliers.Dayen, the editor of the American Prospect and author of the acclaimed Chain of Title, provides a riveting account of what it means to live in this new age of monopoly and how we might resist this corporate hegemony.Through vignettes and vivid case studies Dayen shows how these monopolies have transformed us, inverted us, and truly changed our lives, at the same time providing readers with the raw material to make monopoly a consequential issue in American life and revive a long-dormant antitrust movement.

    Stunningly so, the economist and historian Deirdre McCloskey argues in the concluding volume of her trilogy celebrating the oft-derided virtues of the bourgeoisie. The poorest of humanity, McCloskey shows, will soon be joining the comparative riches of Japan and Sweden and Botswana.   Why? Most economists—from Adam Smith and Karl Marx to Thomas Piketty—say the Great Enrichment since 1800 came from accumulated capital. McCloskey disagrees, fiercely. “Our riches,” she argues, “were made not by piling brick on brick, bank balance on bank balance, but by piling idea on idea.” Capital was necessary, but so was the presence of oxygen. It was ideas, not matter, that drove “trade-tested betterment.”  Nor were institutions the drivers. The World Bank orthodoxy of “add institutions and stir” doesn’t work, and didn’t. McCloskey builds a powerful case for the initiating role of ideas—ideas for electric motors and free elections, of course, but more deeply the bizarre and liberal ideas of equal liberty and dignity for ordinary folk. Liberalism arose from theological and political revolutions in northwest Europe, yielding a unique respect for betterment and its practitioners, and upending ancient hierarchies. Commoners were encouraged to have a go, and the bourgeoisie took up the Bourgeois Deal, and we were all enriched.   Few economists or historians write like McCloskey—her ability to invest the facts of economic history with the urgency of a novel, or of a leading case at law, is unmatched. She summarizes modern economics and modern economic history with verve and lucidity, yet sees through to the really big scientific conclusion. Not matter, but ideas. Big books don’t come any more ambitious, or captivating, than Bourgeois Equality.

    Although governments may presume to set "prices," it is individuals who, by their actions and choices through competitive bidding for money, products, and services, actually determine "prices". Thus, Mises presents economics—not as a study of material goods, services, and products—but as a study of human actions. He sees the science of human action, praxeology, as a science of reason and logic, which recognizes a regularity in the sequence and interrelationships among market phenomena. Mises defends the methodology of praxeology against the criticisms of Marxists, socialists, positivists, and mathematical statisticians.Mises attributes the tremendous technological progress and the consequent increase in wealth and general welfare in the last two centuries to the introduction of liberal government policies based on free-market economic teachings, creating an economic and political environment which permits individuals to pursue their respective goals in freedom and peace. Mises also explains the futility and counter-productiveness of government attempts to regulate, control, and equalize all people's circumstances: "Men are born unequal and ... it is precisely their inequality that generates social cooperation and civilization."Ludwig von Mises (1881–1973) was the leading spokesman of the Austrian School of Economics throughout most of the twentieth century. He earned his doctorate in law and economics from the University of Vienna in 1906. In 1926, Mises founded the Austrian Institute for Business Cycle Research. From 1909 to 1934, he was an economist for the Vienna Chamber of Commerce. Before the Anschluss, in 1934 Mises left for Geneva, where he was a professor at the Graduate Institute of International Studies until 1940, when he emigrated to New York City. From 1948 to 1969, he was a visiting professor at New York University.Bettina Bien Greaves is a former resident scholar, trustee, and longtime staff member of the Foundation for Economic Education. She has written and lectured extensively on topics of free market economics. Her articles have appeared in such journals as Human Events, Reason, and The Freeman: Ideas on Liberty. A student of Mises, Greaves has become an expert on his work in particular and that of the Austrian School of economics in general. She has translated several Mises monographs, compiled an annotated bibliography of his work, and edited collections of papers by Mises and other members of the Austrian School.

    But that pattern, and the ways of life that went with it, were consigned to history by, Andro Linklater persuasively argues, the most creative and at the same time destructive cultural force in the modern era-the idea of individual, exclusive ownership of land.Spreading from both shores of the north Atlantic, it laid waste to traditional communal civilizations, displacing entire peoples from their homelands, but at the same time brought into being a unique concept of individual freedom and a distinct form of representative government and democratic institutions. By contrast, as Linklater demonstrates, other great civilizations, in Russia, China, and the Islamic world, evolved very different structures of land ownership and thus very different forms of government and social responsibility.The history and evolution of landownership is a fascinating chronicle in the history of civilization, offering unexpected insights about how various forms of democracy and capitalism developed, as well as a revealing analysis of a future where the Earth must sustain nine billion lives. Seen through the eyes of remarkable individuals-Chinese emperors; German peasants; the seventeenth century English surveyor William Petty, who first saw the connection between private property and free-market capitalism; the American radical Wolf Ladejinsky, whose land redistribution in Japan, Taiwan, and South Korea after WWII made possible the emergence of Asian tiger economies-Owning the Earth presents a radically new view of mankind's place on the planet.

    -- The New York Times During the summer of 1894, the stubborn and irascible Pullman became a central player in what the New York Times called "the greatest battle between labor and capital [ever] inaugurated in the United States." Jack Kelly tells the fascinating tale of that terrible struggle. -- The Wall Street Journal Pay attention, because The Edge of Anarchy not only captures the flickering Kinetoscopic spirit of one of the great Labor-Capital showdowns in American history, it helps focus today's great debates over the power of economic concentration and the rights and futures of American workers. --Brian Alexander, author of Glass House In gripping detail, The Edge of Anarchy reminds us of what a pivotal figure Eugene V. Debs was in the history of American labor... a tale of courage and the steadfast pursuit of principles at great personal risk. --Tom Clavin, New York Times bestselling author of Dodge CityThe dramatic story of the explosive 1894 clash of industry, labor, and government that shook the nation and marked a turning point for America. The Edge of Anarchy by Jack Kelly offers a vivid account of the greatest uprising of working people in American history. At the pinnacle of the Gilded Age, a boycott of Pullman sleeping cars by hundreds of thousands of railroad employees brought commerce to a standstill across much of the country. Famine threatened, riots broke out along the rail lines. Soon the U.S. Army was on the march and gunfire rang from the streets of major cities.This epochal tale offers fascinating portraits of two iconic characters of the age. George Pullman, who amassed a fortune by making train travel a pleasure, thought the model town that he built for his workers would erase urban squalor. Eugene Debs, founder of the nation's first industrial union, was determined to wrench power away from the reigning plutocrats. The clash between the two men's conflicting ideals pushed the country to what the U.S. Attorney General called "the ragged edge of anarchy."Many of the themes of The Edge of Anarchy could be taken from today's headlines--upheaval in America's industrial heartland, wage stagnation, breakneck technological change, and festering conflict over race, immigration, and inequality. With the country now in a New Gilded Age, this look back at the violent conflict of an earlier era offers illuminating perspectives along with a breathtaking story of a nation on the edge.

    Acemoglu and Robinson are intellectual heavyweights of the first rank . . . erudite and fascinating' Paul Collier, Guardian, on Why Nations FailBy the authors of the international bestseller Why Nations Fail, based on decades of research, this powerful new big-picture framework explains how some countries develop towards and provide liberty while others fall to despotism, anarchy or asphyxiating norms- and explains how liberty can thrive despite new threats.Liberty is hardly the 'natural' order of things; usually states have been either too weak to protect individuals or too strong for people to protect themselves from despotism. There is also a happy Western myth that where liberty exists, it's a steady state, arrived at by 'enlightenment'. But liberty emerges only when a delicate and incessant balance is struck between state and society - between elites and citizens. This struggle becomes self-reinforcing, inducing both state and society to develop a richer array of capacities, thus affecting the peacefulness of societies, the success of economies and how people experience their daily lives.Explaining this new framework through compelling stories from around the world, in history and from today - and through a single diagram on which the development of any state can be plotted - this masterpiece helps us understand the past and present, and analyse the future.'An intellectually rich book that develops an important thesis with verve' Martin Wolf, Financial Times, on Why Nations Fail

    More than 150 years later, that number has barely budged. The Color of Money pursues the persistence of this racial wealth gap by focusing on the generators of wealth in the black community: black banks. Studying these institutions over time, Mehrsa Baradaran challenges the myth that black communities could ever accumulate wealth in a segregated economy. Instead, housing segregation, racism, and Jim Crow credit policies created an inescapable, but hard to detect, economic trap for black communities and their banks.The catch-22 of black banking is that the very institutions needed to help communities escape the deep poverty caused by discrimination and segregation inevitably became victims of that same poverty. Not only could black banks not "control the black dollar" due to the dynamics of bank depositing and lending but they drained black capital into white banks, leaving the black economy with the scraps.Baradaran challenges the long-standing notion that black banking and community self-help is the solution to the racial wealth gap. These initiatives have functioned as a potent political decoy to avoid more fundamental reforms and racial redress. Examining the fruits of past policies and the operation of banking in a segregated economy, she makes clear that only bolder, more realistic views of banking's relation to black communities will end the cycle of poverty and promote black wealth.