Each time, the experts have chimed, "this time is different"--claiming that the old rules of valuation no longer apply and that the new situation bears little similarity to past disasters. With this breakthrough study, leading economists Carmen Reinhart and Kenneth Rogoff definitively prove them wrong. Covering sixty-six countries across five continents, This Time Is Different presents a comprehensive look at the varieties of financial crises, and guides us through eight astonishing centuries of government defaults, banking panics, and inflationary spikes--from medieval currency debasements to today's subprime catastrophe. Carmen Reinhart and Kenneth Rogoff, leading economists whose work has been influential in the policy debate concerning the current financial crisis, provocatively argue that financial combustions are universal rites of passage for emerging and established market nations. The authors draw important lessons from history to show us how much--or how little--we have learned. Using clear, sharp analysis and comprehensive data, Reinhart and Rogoff document that financial fallouts occur in clusters and strike with surprisingly consistent frequency, duration, and ferocity. They examine the patterns of currency crashes, high and hyperinflation, and government defaults on international and domestic debts--as well as the cycles in housing and equity prices, capital flows, unemployment, and government revenues around these crises. While countries do weather their financial storms, Reinhart and Rogoff prove that short memories make it all too easy for crises to recur. An important book that will affect policy discussions for a long time to come, This Time Is Different exposes centuries of financial missteps.

    Written in clear and incisive prose, The Wealth of Nations articulates the concepts indispensable to an understanding of contemporary society; and Robert Reich's Introduction both clarifies Smith's analyses and illuminates his overall relevance to the world in which we live. As Reich writes, "Smith's mind ranged over issues as fresh and topical today as they were in the late eighteenth century--jobs, wages, politics, government, trade, education, business, and ethics."Introduction by Robert Reich - Commentary by R. H. Campbell and A. S. Skinner - Includes a Modern Library Reading Group Guide

    But how did America become "one nation, indivisible"? What unified a growing number of disparate states into the modern country we recognize today? In this monumental history, Simon Winchester addresses these questions, bringing together the breathtaking achievements that helped forge and unify America and the pioneers who have toiled fearlessly to discover, connect, and bond the citizens and geography of the U.S.A. from its beginnings.Winchester follows in the footsteps of America's most essential explorers, thinkers, and innovators, including Lewis and Clark and their Corps of Discovery Expedition to the Pacific Coast, the builders of the first transcontinental telegraph, and the powerful civil engineer behind the Interstate Highway System. He treks vast swaths of territory, from Pittsburgh to Portland; Rochester to San Francisco; Truckee to Laramie; Seattle to Anchorage, introducing these fascinating men and others-some familiar, some forgotten, some hardly known-who played a pivotal role in creating today's United States. Throughout, he ponders whether the historic work of uniting the States has succeeded, and to what degree.Featuring 32 illustrations throughout the text, The Men Who United the States is a fresh, lively, and erudite look at the way in which the most powerful nation on earth came together, from one of our most entertaining, probing, and insightful observers.

    Many realize that attaining the standard of living their parents managed has become impossible.Alissa Quart, executive editor of the Economic Hardship Reporting Project, examines the lives of many middle-class Americans who can now barely afford to raise children. Through gripping firsthand storytelling, Quart shows how our country has failed its families. Her subjects—from professors to lawyers to caregivers to nurses—have been wrung out by a system that doesn’t support them, and enriches only a tiny elite.Interlacing her own experience with close-up reporting on families that are just getting by, Quart reveals parenthood itself to be financially overwhelming, except for the wealthiest. She offers real solutions to these problems, including outlining necessary policy shifts, as well as detailing the DIY tactics some families are already putting into motion, and argues for the cultural reevaluation of parenthood and caregiving.Written in the spirit of Barbara Ehrenreich and Jennifer Senior, Squeezed is an eye-opening page-turner. Powerfully argued, deeply reported, and ultimately hopeful, it casts a bright, clarifying light on families struggling to thrive in an economy that holds too few options. It will make readers think differently about their lives and those of their neighbors.

    The shooting spree, labeled "Baghdad's Bloody Sunday," was neither the work of Iraqi insurgents nor U.S. soldiers. The shooters were private forces working for the secretive mercenary company, Blackwater Worldwide. This is the explosive story of a company that rose a decade ago from Moyock, North Carolina, to become one of the most powerful players in the "War on Terror." In his gripping bestseller, award-winning journalist Jeremy Scahill takes us from the bloodied streets of Iraq to hurricane-ravaged New Orleans to the chambers of power in Washington, to expose Blackwater as the frightening new face of the U.S. war machine.

    Bread, cash, dosh, dough, loot, lucre, moolah, readies, the wherewithal: Call it what you like, it matters. To Christians, love of it is the root of all evil. To generals, it’s the sinews of war. To revolutionaries, it’s the chains of labor. But in The Ascent of Money, Niall Ferguson shows that finance is in fact the foundation of human progress. What’s more, he reveals financial history as the essential backstory behind all history. With the clarity and verve for which he is known, Ferguson elucidates key financial institutions and concepts by showing where they came from. What is money? What do banks do? What’s the difference between a stock and a bond? Why buy insurance or real estate? And what exactly does a hedge fund do? This is history for the present. Ferguson travels to post-Katrina New Orleans to ask why the free market can’t provide adequate protection against catastrophe. He delves into the origins of the subprime mortgage crisis.

    But when Warren announced his retirement in 1968, newly elected President Richard Nixon, who had been working tirelessly behind the scenes to put a stop to what he perceived as the Court's liberal agenda, had his new administration launch a total assault on the Warren Court's egalitarian victories, moving to dismantle its legacy and replace liberal justices with others more loyal to his views. During his six years in office, he appointed four justices to the Supreme Court, thereby setting its course for the next fifty years.In Supreme Inequality, Adam Cohen surveys the most significant Supreme Court rulings since Nixon and exposes how rarely the Court has veered away from a pro-corporate agenda. Contrary to what Americans might like to believe, the Court does not protect equally the rights of the poor and disadvantaged, and, in fact, hasn't for decades. Many of the greatest successes of the Warren Court, such as school desegregation, labor unions, voting rights, and class action suits, have been abandoned in favor of rulings that protect privileged Americans who tend to be white, wealthy, and powerful.As the nation comes to grips with two newly Trump-appointed justices, Cohen proves beyond doubt that the trajectory of today's Court is the result of decisions made fifty years ago, decisions that have contributed directly and grievously to our nation's soaring inequality. An triumph of American legal, political, and social history, Supreme Inequality holds to account the highest court in the land, and should shake to its core any optimistic faith we might have in it to provide checks and balances.

    Integrating social history with economic and architectural analysis, and taking into account such factors as the availability of cheap land, inexpensive building methods, and rapid transportation, Kenneth Jackson chronicles the phenomenal growth of the American suburb from the middle of the 19th century to the present day. He treats communities in every section of the U.S. and compares American residential patterns with those of Japan and Europe. In conclusion, Jackson offers a controversial prediction: that the future of residential deconcentration will be very different from its past in both the U.S. and Europe.

    But it was clear - to some - that the Soviet Union was already executing a plan to expand and foment revolution around the world. The American government's strategy in response relied on the secret efforts of a newly-formed CIA.The Quiet Americans chronicles the exploits of four spies - Michael Burke, a charming former football star fallen on hard times, Frank Wisner, the scion of a wealthy Southern family, Peter Sichel, a sophisticated German Jew who escaped the Nazis, and Edward Lansdale, a brilliant ad executive. The four ran covert operations across the globe, trying to outwit the ruthless KGB in Berlin, parachuting commandos into Eastern Europe, plotting coups, and directing wars against Communist insurgents in Asia.But time and again their efforts went awry, thwarted by a combination of stupidity and ideological rigidity at the highest levels of the government - and more profoundly, the decision to abandon American ideals. By the mid-1950s, the Soviet Union had a stranglehold on Eastern Europe, the U.S. had begun its disastrous intervention in Vietnam, and America, the beacon of democracy, was overthrowing democratically-elected governments and earning the hatred of much of the world. All of this culminated in an act of betrayal and cowardice that would lock the Cold War into place for decades to come.Anderson brings to the telling of this story all the narrative brio, deep research, skeptical eye, and lively prose that made Lawrence in Arabia a major international bestseller. The intertwined lives of these men began in a common purpose of defending freedom, but the ravages of the Cold War led them to different fates. Two would quit the CIA in despair, stricken by the moral compromises they had to make; one became the archetype of the duplicitous and destructive American spy; and one would be so heartbroken he would take his own life.The Quiet Americans is the story of these four men. It is also the story of how the United States, at the very pinnacle of its power, managed to snatch defeat from the jaws of victory.

    While market forces play a role in this stark picture, politics has shaped those market forces. In this best-selling book, Nobel Prize–winning economist Joseph E. Stiglitz exposes the efforts of well-heeled interests to compound their wealth in ways that have stifled true, dynamic capitalism. Along the way he examines the effect of inequality on our economy, our democracy, and our system of justice. Stiglitz explains how inequality affects and is affected by every aspect of national policy, and with characteristic insight he offers a vision for a more just and prosperous future, supported by a concrete program to achieve that vision.

    Using irreverent wit, an engagingly personal style, and a battery of examples, Chang blasts holes in the "World Is Flat" orthodoxy of Thomas Friedman and other liberal economists who argue that only unfettered capitalism and wide-open international trade can lift struggling nations out of poverty. On the contrary, Chang shows, today's economic superpowers—from the U.S. to Britain to his native Korea—all attained prosperity by shameless protectionism and government intervention in industry. We have conveniently forgotten this fact, telling ourselves a fairy tale about the magic of free trade and—via our proxies such as the World Bank, International Monetary Fund, and World Trade Organization—ramming policies that suit ourselves down the throat of the developing world.Unlike typical economists who construct models of how the marketplace should work, Chang examines the past: what has actually happened. His pungently contrarian history demolishes one pillar after another of free-market mythology. We treat patents and copyrights as sacrosanct—but developed our own industries by studiously copying others' technologies. We insist that centrally planned economies stifle growth—but many developing countries had higher GDP growth before they were pressured into deregulating their economies. Both justice and common sense, Chang argues, demand that we reevaluate the policies we force on nations that are struggling to follow in our footsteps.

    Many of us know that our government failed to fix the banking system after the subprime mortgage crisis. But what few of us realize is how the misguided financial practices and philosophies that nearly toppled the global financial system have come to infiltrate ALL American businesses,  putting us on a collision course for another cataclysmic meltdown. Drawing on in-depth reporting and exclusive interviews at the highest rungs of Wall Street and Washington, Time assistant managing editor and economic columnist Rana Foroohar shows how the “financialization of America” - the trend by which finance and its way of thinking have come to reign supreme - is perpetuating Wall Street's reign over Main Street, widening the gap between rich and poor, and threatening the future of the American Dream. Policy makers get caught up in the details of regulating “Too Big To Fail” banks, but the problems in our market system go much broader and deeper than that. Consider that: · Thanks to 40 years of policy changes and bad decisions, only about 15 % of all the money in our market system actually ends up in the real economy – the rest stays within the closed loop of finance itself. · The financial sector takes a quarter of all corporate profits in this country while creating only 4 % of American jobs. · The tax code continues to favor debt over equity, making it easier for companies to hoard cash overseas rather than reinvest it on our shores. · Our biggest and most profitable corporations are investing more money in stock buybacks than in research and innovation. · And, still, the majority of the financial regulations promised after the 2008 meltdown have yet come to pass, thanks to cozy relationship between our lawmakers and the country’s wealthiest financiers.       Exploring these forces, which have have led American businesses to favor balancing-sheet engineering over the actual kind and the pursuit of short-term corporate profits over job creation, Foroohar shows how financialization has so gravely harmed our society, and why reversing this trend is of grave importance to us all. Through colorful stories of both "Takers” and "Makers,” she’ll reveal how we change the system for a better and more sustainable shared economic future.

    Written in a direct, inviting way by Harry Braverman, whose years as an industrial worker gave him rich personal insight into work, Labor and Monopoly Capital overturned the reigning ideologies of academic sociology.This new edition features an introduction by John Bellamy Foster that sets the work in historical and theoretical context, as well as two rare articles by Braverman, The Degradation of Work in the Twentieth Century (1975) and Two Comments (1976), that add much to our understanding of the book.

    Hammer and Hoe documents the efforts of the Alabama Communist Party and its allies to secure racial, economic, and political reforms. Sensitive to the complexities of gender, race, culture and class without compromising the political narrative, Robin Kelley illustrates one of the most unique and least understood radical movements in American history.The Alabama Communist Party was built from scratch by working people who had no Euro-American radical political tradition. It was composed largely of poor blacks, most of whom were semiliterate and devoutly religious, but it also attracted a handful of whites, including unemployed industrial workers, iconoclastic youth, and renegade liberals. Kelley shows that the cultural identities of these people from Alabama's farms, factories, mines, kitchens, and city streets shaped the development of the Party. The result was a remarkably resilient movement forged in a racist world that had little tolerance for radicals.In the South race pervaded virtually every aspect of Communist activity. And because the Party's call for voting rights, racial equality, equal wages for women, and land for landless farmers represented a fundamental challenge to the society and economy of the South, it is not surprising that Party organizers faced a constant wave of violence.Kelley's analysis ranges broadly, examining such topics as the Party's challenge to black middle-class leadership; the social, ideological, and cultural roots of black working-class radicalism; Communist efforts to build alliances with Southern liberals; and the emergence of a left-wing, interracial youth movement. He closes with a discussion of the Alabama Communist Party's demise and its legacy for future civil rights activism.

    Most Americans are familiar with Abraham Lincoln’s famous words in the Gettysburg Address and the Eman­cipation Proclamation. Yet few can name the work that helped him win the presidency: his published collection of speeches entitled Political Debates between Hon. Abraham Lincoln and Hon. Stephen A. Douglas. Lincoln labored in secret to get his book ready for the 1860 election, tracking down newspaper transcripts, editing them carefully for fairness, and hunting for a printer who would meet his specifications. Political Debates sold fifty thousand copies—the rough equivalent of half a million books in today’s market—and it reveals something about Lincoln’s presidential ambitions. But it also reveals something about his heart and mind. When voters asked about his beliefs, Lincoln liked to point them to his book. In Craig Fehrman’s groundbreaking work of history, Author in Chief, the story of America’s presidents and their books opens a rich new window into presidential biography. From volumes lost to history—Calvin Coolidge’s Autobiography, which was one of the most widely discussed titles of 1929—to ones we know and love—Barack Obama’s Dreams from My Father, which was very nearly never published—Fehrman unearths countless insights about the presidents through their literary works. Presidential books have made an enormous impact on American history, catapulting their authors to the national stage and even turning key elections. Beginning with Thomas Jefferson’s Notes on the State of Virginia, the first presidential book to influence a campaign, and John Adams’s Autobiography, the first score-settling presiden­tial memoir, Author in Chief draws on newly uncovered information—including never-before-published letters from Andrew Jackson, John F. Kennedy, and Ronald Reagan—to cast fresh light on the private drives and self-doubts that fueled our nation’s leaders. We see Teddy Roosevelt as a vulnerable first-time author, struggling to write the book that would become a classic of American history. We see Reagan painstakingly revising Where’s the Rest of Me?, a forgotten memoir in which he sharpened his sunny political image. We see Donald Trump negotiating the deal for The Art of the Deal, the volume that made him synonymous with business savvy. Alongside each of these authors, we also glimpse the everyday Americans who read them. Combining the narrative felicity of a journalist with the rigorous scholarship of a historian, Fehrman delivers a feast for history lovers, book lovers, and everybody curious about a behind-the-scenes look at our presidents.