Islands cannot have the same history as continental plains. The United Kingdom is a European country, but not the same kind of European country as Germany, Poland or Hungary. For most of the 150 centuries during which Britain has been inhabited it has been on the edge, culturally and literally, of mainland Europe.In this succinct book, Tombs shows that the decision to leave the EU is historically explicable - though not made historically inevitable - by Britain's very different historical experience, especially in the twentieth century, and because of our more extensive and deeper ties outside Europe. He challenges the orthodox view that Brexit was due solely to British or English exceptionalism: in choosing to leave the EU, the British, he argues, were in many ways voting as typical Europeans.

    Mehrsa Baradaran examines how a significant portion of the population, deserted by banks, is forced to wander through a Wild West of payday lenders and check-cashing services to cover emergency expenses and pay for necessities all thanks to deregulation that began in the 1970s and continues decades later.In an age of corporate megabanks with trillions of dollars in assets, it is easy to forget that America s banking system was originally created as a public service. Banks have always relied on credit from the federal government, provided on favorable terms so that they could issue low-interest loans. But as banks grew in size and political influence, they shed their social contract with the American people, demanding to be treated as a private industry free from any public-serving responsibility. They abandoned less profitable, low-income customers in favor of wealthier clients and high-yield investments. Fringe lenders stepped in to fill the void. This two-tier banking system has become even more unequal since the 2008 financial crisis.Baradaran proposes a solution: reenlisting the U.S. Post Office in its historic function of providing bank services. The post office played an important but largely forgotten role in the creation of American democracy, and it could be deployed again to level the field of financial opportunity."

    John Maynard Keynes, the mercurial Cambridge economist, believed that government had a duty to spend when others would not. He met his opposite in a little-known Austrian economics professor, Freidrich Hayek, who considered attempts to intervene both pointless and potentially dangerous. The battle lines thus drawn, Keynesian economics would dominate for decades and coincide with an era of unprecedented prosperity, but conservative economists and political leaders would eventually embrace and execute Hayek's contrary vision.From their first face-to-face encounter to the heated arguments between their ardent disciples, Nicholas Wapshott here unearths the contemporary relevance of Keynes and Hayek, as present-day arguments over the virtues of the free market and government intervention rage with the same ferocity as they did in the 1930s.

    As banks collapsed and the state scrambled to organize one of the largest transfers of wealth in history, many--including economists and financial experts--were shocked by the speed at which events unfolded.In this new book, John Bellamy Foster and Fred Magdoff offer a bold analysis of the financial meltdown, how it developed, and the implications for the future. They examine the specifics of the housing bubble and the credit crunch as well as situate current events within a broader crisis of monopoly-finance capitalism--one that has been gestating for several decades. It is the "real" productive economy's tendency toward stagnation, they argue, that creates a need for capital to find ways to profitably invest its surplus. But rather than invest in socially useful projects that would benefit the vast majority, capital has constructed a financialized "casino" economy that neglects social needs and, as has become increasingly clear, is fatally unstable. Written over a two-year period immediately prior to the onset of the crisis, this timely and illuminating book is necessary reading for all those who wish to understand the current situation, how we got here, and where we are heading.

    The name of the remote New Hampshire town where representatives of forty-four nations gathered in July 1944, in the midst of the century's second great war, has become shorthand for enlightened globalization. The actual story surrounding the historic Bretton Woods accords, however, is full of startling drama, intrigue, and rivalry, which are vividly brought to life in Benn Steil's epic account.Upending the conventional wisdom that Bretton Woods was the product of an amiable Anglo-American collaboration, Steil shows that it was in reality part of a much more ambitious geopolitical agenda hatched within President Franklin D. Roosevelt's Treasury and aimed at eliminating Britain as an economic and political rival. At the heart of the drama were the antipodal characters of John Maynard Keynes, the renowned and revolutionary British economist, and Harry Dexter White, the dogged, self-made American technocrat. Bringing to bear new and striking archival evidence, Steil offers the most compelling portrait yet of the complex and controversial figure of White--the architect of the dollar's privileged place in the Bretton Woods monetary system, who also, very privately, admired Soviet economic planning and engaged in clandestine communications with Soviet intelligence officials and agents over many years.A remarkably deft work of storytelling that reveals how the blueprint for the postwar economic order was actually drawn, The Battle of Bretton Woods is destined to become a classic of economic and political history.

    The scholastics, he argues, established and developed the subjective utility and scarcity theory of value, as well as the theory that prices, or the value of money, depend on its supply and demand. This continental, or 'pre-Austrian' tradition, was destroyed, rather than developed, by Adam Smith whose strong Calvinist tendencies towards glorifying labour, toil and thrift is contrasted with the emphasis in scholastic economic thought towards labour in the service of consumption.Tracing economic thought from the Greeks to the Scottish Enlightenment, this book is notable for its inclusion of all the important figures in each school of thought with their theories assessed in historical context. Classical Economics, the second volume of Professor Rothbard's history of economic thought from an Austrian perspective, is also available.

    

    The lectures are the culmination of a lifetime of practical and philosophical reflection. In the first and second lecture, Soros discusses his general theory of reflexivity and its application to financial markets, providing insight into the recent financial crisis. The third and fourth lectures examine the concept of open society, which has guided Soros' global philanthropy, as well as the potential for conflict between capitalism and open society. The closing lecture focuses on the way ahead, closely examining the increasingly important economic and political role that China will play in the future. "The Budapest Lectures" presents these five seminal talks into one volume, which offers a condensed and highly readable summary of Soros' world view.

    Compulsory reading for anyone who wants to understand the major issues that America now faces” (James Robinson, coauthor of Why Nations Fail).From the Ming Dynasty to Ottoman Turkey to imperial Spain, the Great Powers of the world emerged as the supreme economic, political, and military forces of their time—only to collapse into rubble and memory. What is at the root of their demise, and how can the United States stop it from happening again?A quarter century after Paul Kennedy’s The Rise and Fall of the Great Powers, Glenn Hubbard and Tim Kane present a bold, sweeping account of why powerful nations and civilizations break down under the heavy burden of economic imbalance. Introducing a profound new measure of economic power, Balance traces the triumphs and mistakes of imperial Britain, the paradox of superstate California, the long collapse of Rome, and the limits of the Japanese model of growth. Most importantly, Hubbard and Kane compare the twenty-first-century United States to the empires of old and challenge Americans to address the real problems of our country’s fiscal imbalance. If there is not a new economics and politics of balance, they portend that inevitable demise is ahead.This is more than another analysis of our nation’s economy; it is a groundbreaking look at the patterns of the past and a “thought-provoking analysis that has compelling relevance for America’s future” (Nobel Peace Prize–winner Henry A. Kissinger).

    From her characterization of women as virtual economic, social, and sexual slaves, dependent on men for everything from food to friendship to protection, to her call for women to free themselves from these shackles, Women and Economics electrified Victorian readers. It remains a foundational work of feminist theory, essential reading for anyone wishing to understand women's struggle for full and self-determined personhood.

    This easy-to-understand guide answers all the questions you need to know to secure your financial future, such as: What does it mean to my paycheck when the Fed lowers or raises interest rates?What's the difference between bonds, securities, and derivatives - and which should I invest in now?What does Keynesian economics have to do with my savings? For those people whose heads spin when reading the business pages of the newspaper, here's a roadmap through the economic jungle. In simple, plain language, Peter Sander explains how economies work, why they grow, how they contract, and what the government can and can't do to help them. Most important, he tells you how all this affects "you" - and what kind of changes you're going to see in your finances as a result.Economics has been called the dismal" science. But it doesn't need to be gloomy or impenetrable. This book is an essential guide for anyone who wants to understand where the economy is today, where it's going, and what it means for the rest of us."

    David Friedman's standpoint, known as 'anarcho-capitalism', has attracted a growing following as a desirable social ideal since the first edition of The Machinery of Freedom appeared in 1971. This new edition is thoroughly revised and includes much new material, exploring fresh applications of the author's libertarian principles. Among topics covered: how the U.S. would benefit from unrestricted immigration; why prohibition of drugs is inconsistent with a free society; why the welfare state mainly takes from the poor to help the not-so-poor; how police protection, law courts, and new laws could all be provided privately; what life was really like under the anarchist legal system of medieval Iceland; why non-intervention is the best foreign policy; why no simple moral rules can generate acceptable social policies -- and why these policies must be derived in part from the new discipline of economic analysis of law.

    Thomas Piketty’s Capital in the Twenty-First Century makes a powerful case that wealth, and accumulated wealth, tends to stay where it lands: and with the passage of time, just gets bigger…and bigger.But how many of us who bought or borrowed the book–or even, perhaps, reviewed it–have read more than a fraction of its 696 pages? How many more shuddered at the thought of committing $40 to such a venture? And how many of Piketty’s groundshaking concepts have gone unappreciated, all for want of intellectual stamina?Deliverance is at hand in the form of Pocket Piketty, written in clear and accessible prose by an experienced economist and teacher–and one whose work was relied on by Piketty for his masterpiece. In this handy and slim volume, Jesper Roine explains all things Piketty.

    In this provocative and stimulating book critically acclaimed author Will Hutton warns instead that China is running up against a set of daunting challenges from within its own political and economic system that could well derail its rise, leading to a massive shock to the global economy. The United States, he argues, must recognize that it has a vital stake in working to assure this doesn't happen, for if China's political liberalization and economic growth collapse, the United States will suffer crippling consequences.In today's highly globalized world economy, so much of the economic health of the United States -- our low inflation, high profits, and cheap credit -- rests upon China's economic growth and its massive investment in the United States. A great deal has been said about the economic and military threat China poses. But rather than provoking China with the military hawkishness of recent years and resisting Chinese economic supremacy with the saber rattling of protectionist antitrade policies -- twenty such bills have been introduced in Congress in just the last year -- the United States must build a strong relationship that will foster China's transition from an antiquated Communist state beset with profound problems to a fully modern, enlightened, and open society. Doing so will require understanding and engagement, not enmity and suspicion.China's current economic model, Hutton explains, is unsustainable, premised as it is on the myriad contradictions and dysfunctions of an authoritarian state attempting to control an economy in its transition to capitalism. If the twenty-first century is to be the China century, the Chinese will have to embrace the features of modern Western nations that have spurred the political stability and economic power of the United States and Europe: the rule of law, an independent judiciary, freedom of the press, and authentic representative government that is accountable to the people. Whether or not China does so rests in large part on how well the United States manages the relationship and persuades the Chinese of the virtues of an open, enlightened democratic system. The danger is that fearmongering will intensify animosities, leading both countries down a path of peril.Turning conventional wisdom on its head, this brilliantly argued book is vital reading at a crucial juncture in world affairs.

    His book appears in the fifth year of a lackluster recovery from the overmedicated downturn of 2007–2009.In 1920–21, Woodrow Wilson and Warren G. Harding met a deep economic slump by seeming to ignore it, implementing policies that most twenty-first century economists would call backward. Confronted with plunging prices, wages, and employment, the government balanced the budget and, through the Federal Reserve, raised interest rates. No “stimulus” was administered, and a powerful, job-filled recovery was under way by late in 1921.In 1929, the economy once again slumped—and kept right on slumping as the Hoover administration adopted the very policies that Wilson and Harding had declined to put in place. Grant argues that well-intended federal intervention, notably the White House-led campaign to prop up industrial wages, helped to turn a bad recession into America’s worst depression. He offers the experience of the earlier depression for lessons for today and the future. This is a powerful response to the prevailing notion of how to fight recession. The enterprise system is more resilient than even its friends give it credit for being, Grant demonstrates.