How could it have happened, especially after all that we've learned from the Great Depression? Why wasn't it anticipated so that remedial steps could be taken to avoid or mitigate it? What can be done to reverse a slide into a full-blown depression? Why have the responses to date of the government and the economics profession been so lackluster? Richard Posner presents a concise and non-technical examination of this mother of all financial disasters and of the, as yet, stumbling efforts to cope with it. No previous acquaintance on the part of the reader with macroeconomics or the theory of finance is presupposed. This is a book for intelligent generalists that will interest specialists as well.Among the facts and causes Posner identifies are: excess savingsflowing in from Asia and the reckless lowering of interest rates by theFederal Reserve Board; the relation between executive compensation, short-term profit goals, and risky lending; the housing bubble fuelled bylow interest rates, aggressive mortgage marketing, and loose regulations; the low savings rate of American people; and the highly leveraged balance sheets of large financial institutions.Posner analyzes the two basic remedial approaches to the crisis, which correspond to the two theories of the cause of the Great Depression: the monetarist--that the Federal Reserve Board allowed the money supply to shrink, thus failing to prevent a disastrous deflation--and the Keynesian--that the depression was the product of a credit binge in the 1920's, a stock-market crash, and the ensuing downward spiral in economic activity. Posner concludes that the pendulum swung too far and that our financial markets need to be more heavily regulated.Read Richard Posner's blog, and his latest article in The Atlantic.

    Yet for all the talk about the democratizing power of the Internet, regimes in Iran and China are as stable and repressive as ever. In fact, authoritarian governments are effectively using the Internet to suppress free speech, hone their surveillance techniques, disseminate cutting-edge propaganda, and pacify their populations with digital entertainment. Could the recent Western obsession with promoting democracy by digital means backfire?In this spirited book, journalist and social commentator Evgeny Morozov shows that by falling for the supposedly democratizing nature of the Internet, Western do-gooders may have missed how it also entrenches dictators, threatens dissidents, and makes it harder - not easier - to promote democracy. Buzzwords like "21st-century statecraft" sound good in PowerPoint presentations, but the reality is that "digital diplomacy" requires just as much oversight and consideration as any other kind of diplomacy.Marshaling compelling evidence, Morozov shows why we must stop thinking of the Internet and social media as inherently liberating and why ambitious and seemingly noble initiatives like the promotion of "Internet freedom" might have disastrous implications for the future of democracy as a whole.

    Congress is deadlocked and its approval ratings are at record lows. America’s two main political parties have given up their traditions of compromise, endangering our very system of constitutional democracy. And one of these parties has taken on the role of insurgent outlier; the Republicans have become ideologically extreme, scornful of compromise, and ardently opposed to the established social and economic policy regime. In It’s Even Worse Than It Looks, congressional scholars Thomas Mann and Norman Ornstein identify two overriding problems that have led Congress—and the United States—to the brink of institutional collapse. The first is the serious mismatch between our political parties, which have become as vehemently adversarial as parliamentary parties, and a governing system that, unlike a parliamentary democracy, makes it extremely difficult for majorities to act. Second, while both parties participate in tribal warfare, both sides are not equally culpable. The political system faces what the authors call “asymmetric polarization,” with the Republican Party implacably refusing to allow anything that might help the Democrats politically, no matter the cost. With dysfunction rooted in long-term political trends, a coarsened political culture and a new partisan media, the authors conclude that there is no “silver bullet” reform that can solve everything. But they offer a panoply of useful ideas and reforms, endorsing some solutions, like greater public participation and institutional restructuring of the House and Senate, while debunking others, like independent or third-party candidates. Above all, they call on the media as well as the public at large to focus on the true causes of dysfunction rather than just throwing the bums out every election cycle. Until voters learn to act strategically to reward problem solving and punish obstruction, American democracy will remain in serious danger.

    Bush campaigned for the White House, he was such a novice in foreign policy that he couldn't name the president of Pakistan and momentarily suggested he thought the Taliban was a rock-and-roll band. But he relied upon a group called the Vulcans--an inner circle of advisers with a long, shared experience in government, dating back to the Nixon, Ford, Reagan and first Bush administrations. After returning to power in 2001, the Vulcans were widely expected to restore U.S. foreign policy to what it had been under George H. W. Bush and previous Republican administrations. Instead, the Vulcans put America on an entirely new and different course, adopting a far-reaching set of ideas that changed the world and America's role in it. Rise of the Vulcans is nothing less than a detailed, incisive thirty-five-year history of the top six members of the Vulcans--Dick Cheney, Donald Rumsfeld, Colin Powell, Paul Wolfowitz, Richard Armitage, and Condoleezza Rice--and the era of American dominance they represent. It is the story of the lives, ideas and careers of Bush's war cabinet--the group of Washington insiders who took charge of America's response to September 11 and led the nation into its wars in Afghanistan and Iraq.Separately, each of these stories sheds astonishing light not only on the formative influences that brought these nascent leaders from obscurity to the pinnacle of power, but also on the experiences, conflicts and competitions that prefigured their actions on the present world stage. Taken together, the individuals in this book represent a unique generation in American history--a generation that might be compared to the wise men who shaped American policy after World War II or the best and brightest who prosecuted the war in Vietnam. Over the past three decades, since the time of Vietnam, these individuals have gradually led the way in shaping a new vision of an unchallengeable America seeking to dominate the globe through its military power.

    The truth is that the solutions have been available for a long time -- in the writings of our Founding Fathers -- carefully set forth in this timely book.In The 5000 Year Leap: A Miracle That Changed the World, Discover the 28 Principles of Freedom our Founding Fathers said must be understood and perpetuated by every people who desire peace, prosperity, and freedom. Learn how adherence to these beliefs during the past 200 years has brought about more progress than was made in the previous 5000 years. These 28 Principles include The Genius of Natural Law, Virtuous and Moral Leaders, Equal Rights--Not Equal Things, and Avoiding the Burden of Debt. Published by the National Center for Constitut

    Its members included Oliver Wendell Holmes, Jr, founder of modern jurisprudence; William James, the father of modern American psychology; and Charles Sanders Peirce, logician, scientist and the founder of semiotics. The club was probably in existence for about nine months. No records were kept. The one thing we know that came out of it was an idea - an idea about ideas. This book is the story of that idea. Holmes, James and Peirce all believed that ideas are not things out there waiting to be discovered but are tools people invent - like knives and forks and microchips - to make their way in the world. They thought that ideas are produced not by individuals, but by groups of individuals - that ideas are social. They do not develop according to some inner logic of their own but are entirely dependent - like germs - on their human carriers and environment. They also thought that the survival of any idea depends not on its immutability but on its adaptability.

    Albert O. Hirschman makes a basic distinction between alternative ways of reacting to deterioration in business firms and, in general, to dissatisfaction with organizations: one, "exit," is for the member to quit the organization or for the customer to switch to the competing product, and the other, "voice," is for members or customers to agitate and exert influence for change "from within." The efficiency of the competitive mechanism, with its total reliance on exit, is questioned for certain important situations. As exit often undercuts voice while being unable to counteract decline, loyalty is seen in the function of retarding exit and of permitting voice to play its proper role. The interplay of the three concepts turns out to illuminate a wide range of economic, social, and political phenomena. As the author states in the preface, "having found my own unifying way of looking at issues as diverse as competition and the two-party system, divorce and the American character, black power and the failure of 'unhappy' top officials to resign over Vietnam, I decided to let myself go a little."

    She shows how both Presidents Hoover and Roosevelt failed to understand the prosperity of the 1920s and heaped massive burdens on the country that more than offset the benefit of New Deal programs.

    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.

    He was a young, well-polished lawyer who shared many of President Richard Nixon's philosophies and faced no major objections from the Senate. But in truth, the nomination was anything but straightforward. Now, for the first time, former White House counsel John Dean tells the improbable story of Rehnquist's appointment. Dean weaves a gripping account packed with stunning new revelations: of a remarkable power play by Nixon to stack the court in his favor by forcing resignations; of Rehnquist himself, who played a role in the questionable ousting of Justice Abe Fortas; and of Nixon's failed impeachment attempt against William 0. Douglas. In his initial confirmation hearings, Rehnquist provided outrageous and unbelievable responses to questions about his controversial activities in the '50s and '60s -- yet he was confirmed with little opposition. It was only later, during his confirmation as Chief Justice, that his testimony would come under fire -- raising serious questions as to whether he had perjured himself Using newly released tapes, his own papers, and documents unearthed from the National Archives, John Dean offers readers a place in the White House inner circle, providing an unprecedented look at a government process, and a stunning expose of the man who has influenced the United States Supreme Court for the last thirty years.

    In this now classic work, Russell Kirk describes the beliefs and institutions that have nurtured the American soul and commonwealth of the United States.

    Paul Farmer, a physician and anthropologist with twenty years of experience working in Haiti, Peru, and Russia, argues that promoting the social and economic rights of the world’s poor is the most important human rights struggle of our times. With passionate eyewitness accounts from the prisons of Russia and the beleaguered villages of Haiti and Chiapas, this book links the lived experiences of individual victims to a broader analysis of structural violence. Farmer challenges conventional thinking within human rights circles and exposes the relationships between political and economic injustice, on one hand, and the suffering and illness of the powerless, on the other.Farmer shows that the same social forces that give rise to epidemic diseases such as HIV and tuberculosis also sculpt risk for human rights violations. He illustrates the ways that racism and gender inequality in the United States are embodied as disease and death. Yet this book is far from a hopeless inventory of abuse. Farmer’s disturbing examples are linked to a guarded optimism that new medical and social technologies will develop in tandem with a more informed sense of social justice. Otherwise, he concludes, we will be guilty of managing social inequality rather than addressing structural violence. Farmer’s urgent plea to think about human rights in the context of global public health and to consider critical issues of quality and access for the world’s poor should be of fundamental concern to a world characterized by the bizarre proximity of surfeit and suffering.

    The Geography of Nowhere tallies up the huge economic, social, and spiritual costs that America is paying for its car-crazed lifestyle. It is also a wake-up call for citizens to reinvent the places where we live and work, to build communities that are once again worthy of our affection. Kunstler proposes that by reviving civic art and civic life, we will rediscover public virtue and a new vision of the common good. "The future will require us to build better places," Kunstler says, "or the future will belong to other people in other societies."The Geography of Nowhere has become a touchstone work in the two decades since its initial publication, its incisive commentary giving language to the feeling of millions of Americans that our nation's suburban environments were ceasing to be credible human habitats. Since that time, the work has inspired city planners, architects, legislators, designers and citizens everywhere. In this special 20th Anniversary edition, dozens of authors and experts in various fields share their perspective on James Howard Kunstler's brave and seminal work.

    While this has had the positive effect of equalizing access to knowledge, it also has lowered the bar on what depth of knowledge is required to consider oneself an "expert." A cult of anti-expertise sentiment has coincided with anti-intellectualism, resulting in massively viral yet poorly informed debates ranging from the anti-vaccination movement to attacks on GMOs. This surge in intellectual egalitarianism has altered the landscape of debates-all voices are equal, and "fact" is a subjective term. Browsing WebMD puts one on equal footing with doctors, and Wikipedia allows all to be foreign policy experts, scientists, and more. As Tom Nichols shows in The Death of Expertise, there are a number of reasons why this has occurred-ranging from easy access to Internet search engines to a customer satisfaction model within higher education. The product of these interrelated trends, Nichols argues, is a pervasive distrust of expertise among the public coinciding with an unfounded belief among non-experts that their opinions should have equal standing with those of the experts. The experts are not always right, of course, and Nichols discusses expert failure. The crucial point is that bad decisions by experts can and have been effectively challenged by other well-informed experts. The issue now is that the democratization of information dissemination has created an army of ill-informed citizens who denounce expertise.When challenged, non-experts resort to the false argument that the experts are often wrong. Though it may be true, but the solution is not to jettison expertise as an ideal; it is to improve our expertise. Nichols is certainly not opposed to information democratization, but rather the enlightenment people believe they achieve after superficial internet research. He shows in vivid detail the ways in which this impulse is coursing through our culture and body politic, but the larger goal is to explain the benefits that expertise and rigorous learning regimes bestow upon all societies.

    C. Wright Mills examines and critiques the organization of power in the United States, calling attention to three firmly interlocked prongs of power: the military, corporate, andpolitical elite. The Power Elite can be read as a good account of what was taking place in America at the time it was written, but its underlying question of whether America is as democratic in practice as it is in theory continues to matter very much today.What The Power Elite informed readers of in 1956 was how much the organization of power in America had changed during their lifetimes, and Alan Wolfe's astute afterword to this new edition brings us up to date, illustrating how much more has changed since then. Wolfe sorts out what is helpful inMills' book and which of his predictions have not come to bear, laying out the radical changes in American capitalism, from intense global competition and the collapse of communism to rapid technological transformations and ever changing consumer tastes. The Power Elite has stimulated generations ofreaders to think about the kind of society they have and the kind of society they might want, and deserves to be read by every new generation.