The Value of Nothing: How to Reshape Market Society and Redefine Democracy


Raj Patel - 2009
    He reveals the hidden ecological and social costs of a hamburger (as much as $200), and asks how we came to have markets in the first place. Both the corporate capture of government and our current financial crisis, Patel argues, are a result of our democratically bankrupt political system.If part one asks how we can rebalance society and limit markets, part two answers by showing how social organizations, in America and around the globe, are finding new ways to describe the world's worth. If we don't want the market to price every aspect of our lives, we need to learn how such organizations have discovered democratic ways in which people, and not simply governments, can play a crucial role in deciding how we might share our world and its resources in common.This short, timely and inspiring book reveals that our current crisis is not simply the result of too much of the wrong kind of economics. While we need to rethink our economic model, Patel argues that the larger failure beneath the food, climate and economic crises is a political one. If economics is about choices, Patel writes, it isn't often said who gets to make them. The Value of Nothing offers a fresh and accessible way to think about economics and the choices we will all need to make in order to create a sustainable economy and society.

The Age of Surveillance Capitalism: The Fight for a Human Future at the New Frontier of Power


Shoshana Zuboff - 2018
    The stakes could not be higher: a global architecture of behavior modification threatens human nature in the twenty-first century just as industrial capitalism disfigured the natural world in the twentieth.Zuboff vividly brings to life the consequences as surveillance capitalism advances from Silicon Valley into every economic sector. Vast wealth and power are accumulated in ominous new "behavioral futures markets," where predictions about our behavior are bought and sold, and the production of goods and services is subordinated to a new "means of behavioral modification."The threat has shifted from a totalitarian Big Brother state to a ubiquitous digital architecture: a "Big Other" operating in the interests of surveillance capital. Here is the crucible of an unprecedented form of power marked by extreme concentrations of knowledge and free from democratic oversight. Zuboff's comprehensive and moving analysis lays bare the threats to twenty-first century society: a controlled "hive" of total connection that seduces with promises of total certainty for maximum profit--at the expense of democracy, freedom, and our human future.With little resistance from law or society, surveillance capitalism is on the verge of dominating the social order and shaping the digital future--if we let it.Table of contentsINTRODUCTION1. Home or exile in the digital futureI. THE FOUNDATIONS OF SURVEILLANCE CAPITALISM2. August 9, 2011: Setting the stage for Surveillance Capitalism3. The discovery of behavioral surplus4. The moat around the castle5. The elaboration of Surveillance Capitalism: Kidnap, corner, compete6. Hijacked: The division of learning in societyII. THE ADVANCE OF SURVEILLANCE CAPITALISM7. The reality business8. Rendition: From experience to data9. Rendition from the depths10. Make them dance11. The right to the future tenseIII. INSTRUMENTARIAN POWER FOR A THIRD MODERNITY12. Two species of power13. Big Other and the rise of instrumentarian power14. A utopia of certainty15, The instrumentarian collective16. Of life in the hive17. The right to sanctuaryCONCLUSION18. A coup from aboveAcknowledgementsAbout the authorDetailed table of contentsNotesIndex

The General Theory of Employment, Interest, and Money


John Maynard Keynes - 1935
    In his most important work, The General Theory of Employment, Interest, and Money (1936), Keynes critiqued the laissez-faire policies of his day, particularly the proposition that a normally functioning market economy would bring full employment. Keynes's forward-looking work transformed economics from merely a descriptive and analytic discipline into one that is policy oriented. For Keynes, enlightened government intervention in a nation's economic life was essential to curbing what he saw as the inherent inequalities and instabilities of unregulated capitalism.

Small Is Beautiful: Economics as if People Mattered


Ernst F. Schumacher - 1973
    Schumacher's riveting, richly researched statement on sustainability has become more relevant and vital with each year since its initial groundbreaking publication during the 1973 energy crisis. A landmark statement against "bigger is better" industrialism, Schumacher's Small Is Beautiful paved the way for twenty-first century books on environmentalism and economics, like Jeffrey Sachs's The End of Poverty, Paul Hawken's Natural Capitalism, Mohammad Yunis's Banker to the Poor, and Bill McKibben's Deep Economy. This timely reissue offers a crucial message for the modern world struggling to balance economic growth with the human costs of globalization.

Common Sense: The Investor's Guide to Equality, Opportunity, and Growth


Joel Greenblatt - 2020
    It shouldn't take a worldwide pandemic and nationwide protests to bring economic and racial inequality to the forefront of problems we desperately need to solve. But now that the opportunity is here, what should we do? How can we create more equality, opportunity, and growth for everyone? Not someday, but what can government and the private sector do right now to disrupt a status quo that almost everyone wants to change?In Common Sense, the New York Times best-selling author Joel Greenblatt offers an investor's perspective on building an economy that truly works for everyone. With dry wit and engaging storytelling, he makes a lively and provocative case for disruptive new approaches--some drawn from personal experience, some from the outside looking in. How can leading corporations immediately disrupt our education establishment while creating high-paying job opportunities for those currently left behind? If we want a living wage for everyone, how can we afford it while using an existing program to get it done now? If we subsidize banks, what simple changes can we make to the way we capitalize and regulate them to help grow the economy, increase access, and create more jobs (while keeping the risks and benefits where they belong)? Greenblatt also explains how dramatically increasing immigration would be like giving every American a giant bonus and the reason Australia might be the best place to learn about saving for retirement.Not everyone will agree with what Greenblatt has to say--but all of us can benefit from the conversations he aims to start.

The Fine Print: How Big Companies Use "Plain English" to Rob You Blind


David Cay Johnston - 2011
    A big reason is that so little of the news . . . addresses the private, government-approved mechanisms by which price gouging is employed to redistribute income upward.”You are being systematically exploited by powerful corporations every day. These companies squeeze their trusting customers for every last cent, risk their retirement funds, and endanger their lives. And they do it all legally. How? It’s all in the fine print.David Cay Johnston, the bestselling author of Per­fectly Legal and Free Lunch, is famous for exposing the perfidies of our biggest institutions. Now he turns his attention to the ways huge corporations hide sneaky stipulations in just about every contract, often with government permission.Johnston has been known to whip out a utility bill and explain line by line what all that mumbo jumbo actually means (and it doesn’t mean anything good, unless you happen to be the utility company). Within all that jargon, disclosed in accordance with all legal requirements, lie the tools these companies use to rob you blind. Even worse is what’s missing—all the contractually binding clauses that companies hide elsewhere yet still enforce and abuse. Consider, for example, how:An insurance company repeatedly delayed paying for a paralyzed man’s vital care despite court orders to pay up. Laws in nineteen states let companies like Goldman Sachs, General Electric, and Procter & Gamble pocket the state income taxes withheld from their workers’ paychecks for up to twenty-five years. A little-known government rule gives safety waiv­ers to deadly industrial facilities secretly located underneath schools and playgrounds. The “FCC Charge” on your phone bill, which appears to be a government fee, actually goes straight to the phone company.Johnston shares solutions you can use to fight back against the hundreds of obscure fees and taxes that line the pockets of big corporations, and to help end these devious practices once and for all.

The Looting Machine: Warlords, Oligarchs, Corporations, Smugglers, and the Theft of Africa's Wealth


Tom Burgis - 2015
    During the years when Brazil, India, China and the other “emerging markets” have transformed their economies, Africa's resource states remained tethered to the bottom of the industrial supply chain. While Africa accounts for about 30 per cent of the world's reserves of hydrocarbons and minerals and 14 per cent of the world's population, its share of global manufacturing stood in 2011 exactly where it stood in 2000: at 1 percent.In his first book, The Looting Machine, Tom Burgis exposes the truth about the African development miracle: for the resource states, it's a mirage. The oil, copper, diamonds, gold and coltan deposits attract a global network of traders, bankers, corporate extractors and investors who combine with venal political cabals to loot the states' value. And the vagaries of resource-dependent economies could pitch Africa's new middle class back into destitution just as quickly as they climbed out of it. The ground beneath their feet is as precarious as a Congolese mine shaft; their prosperity could spill away like crude from a busted pipeline.This catastrophic social disintegration is not merely a continuation of Africa's past as a colonial victim. The looting now is accelerating as never before. As global demand for Africa's resources rises, a handful of Africans are becoming legitimately rich but the vast majority, like the continent as a whole, is being fleeced. Outsiders tend to think of Africa as a great drain of philanthropy. But look more closely at the resource industry and the relationship between Africa and the rest of the world looks rather different. In 2010, fuel and mineral exports from Africa were worth 333 billion, more than seven times the value of the aid that went in the opposite direction. But who received the money? For every Frenchwoman who dies in childbirth, 100 die in Niger alone, the former French colony whose uranium fuels France's nuclear reactors. In petro-states like Angola three-quarters of government revenue comes from oil. The government is not funded by the people, and as result it is not beholden to them. A score of African countries whose economies depend on resources are rentier states; their people are largely serfs. The resource curse is not merely some unfortunate economic phenomenon, the product of an intangible force. What is happening in Africa's resource states is systematic looting. Like its victims, its beneficiaries have names.

Age of Greed: The Triumph of Finance and the Decline of America, 1970 to the Present


Jeff Madrick - 2011
    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.

Conscious Capitalism: Liberating the Heroic Spirit of Business


John E. Mackey - 2012
    cofounder Raj Sisodia argue for the inherent good of both business and capitalism. Featuring some of today’s best-known companies, they illustrate how these two forces can—and do—work most powerfully to create value for all stakeholders: including customers, employees, suppliers, investors, society, and the environment.These "�Conscious Capitalism" companies include Whole Foods Market, Southwest Airlines, Costco, Google, Patagonia, The Container Store, UPS, and dozens of others. We know them; we buy their products or use their services. Now it’s time to better understand how these organizations use four specific tenets—higher purpose, stakeholder integration, conscious leadership, and conscious culture and management—to build strong businesses and help advance capitalism further toward realizing its highest potential.As leaders of the Conscious Capitalism movement, Mackey and Sisodia argue that aspiring leaders and business builders need to continue on this path of transformation—for the good of both business and society as a whole.At once a bold defense and reimagining of capitalism and a blueprint for a new system for doing business grounded in a more evolved ethical consciousness, this book provides a new lens for individuals and companies looking to build a more cooperative, humane, and positive future.

The Wealth of Humans: Work, Power, and Status in the Twenty-first Century


Ryan Avent - 2016
    Until now.Digital technology is transforming every corner of the economy, fundamentally altering the way things are done, who does them, and what they earn for their efforts. In The Wealth of Humans, Economist editor Ryan Avent brings up-to-the-minute research and reporting to bear on the major economic question of our time: can the modern world manage technological changes every bit as disruptive as those that shook the socioeconomic landscape of the 19th century?Traveling from Shenzhen, to Gothenburg, to Mumbai, to Silicon Valley, Avent investigates the meaning of work in the twenty-first century: how technology is upending time-tested business models and thrusting workers of all kinds into a world wholly unlike that of a generation ago. It's a world in which the relationships between capital and labor and between rich and poor have been overturned.Past revolutions required rewriting the social contract: this one is unlikely to demand anything less. Avent looks to the history of the Industrial Revolution and the work of numerous experts for lessons in reordering society. The future needn't be bleak, but as The Wealth of Humans explains, we can't expect to restructure the world without a wrenching rethinking of what an economy should be.

The Bern Identity: A Search for Bernie Sanders and the New American Dream (Kindle Single)


Will Bunch - 2015
    How did Bernie Sanders make it out of the backwoods of Vermont – where he lived for a time in a ramshackle off-road “sugar shack” with no electricity, and where he never got more than 6 percent of the vote in a string of doomed, fringe far-left campaigns in the 1970s – to become a leading contender in the 2016 race for the White House? And perhaps more importantly for author Will Bunch, how did this gruff and sometimes didactic gray-haired political survivor make it out of the 1960s and ‘70s to become the last torch-bearer of the youthful idealism of that nearly lost “Age of Aquarius” – The One who didn’t drop out, sell out…or simply give up? In the fall of 2015, Bunch – with the voices of the late Hunter S. Thompson and the other iconic “New Journalists” of that lost era ringing in his ears – set out on a road trip that took him from the battlefields of northern Virginia to the salty air of backwater Boston to the neon sky of the Las Vegas Strip, all to get to the bottom of “The Bern Identity.” He follows the long strange trip of Bernie Sanders – a kid from a cramped Brooklyn flat who couldn’t tell a lie in school, who mourned the migration of his beloved Dodgers and was shaken up by “Death of a Salesman,” who became a campus radical, a dreamer of revolutions, and then almost disappeared before his improbable election of mayor of Burlington in 1981. Sanders’ remarkable bio is interspersed with the tale of the true believers who packed hockey rinks and concrete convention floors in crowds of 20,000 or more, who tweeted incessantly and posted memes of Sanders flying in coach class, and who exploded with excitement at their hero’s call for a “political revolution” to raise the beleaguered middle class. In a time of rampant cynicism about American politics, “The Bern Identity” turns into something most unlikely – a love story, between the long-distance runner who never gave up his fantasy of real social change, and the dreamers and the radicals and the formerly hopeless who were waiting for him at the finish line.THE AUTHOR Will Bunch is senior writer for the Philadelphia Daily News – where he writes the popular political blog Attytood – and also shared the 1992 Pulitzer Prize for spot news reporting in 1992 when he was at New York Newsday. He is the author of two other Kindle Singles: October 1, 2011: The Battle of the Brooklyn Bridge, about the Occupy Wall Street movement, and Give It To Steve!, about the 1948 Philadelphia Eagles winning the NFL title during a raging blizzard. His full-length books include The Backlash: Right-Wing Radicals, High-Def Hucksters and Paranoid Politics in the Age of Obama, and Tear Down This Myth: The Right-Wing Distortion of the Reagan Legacy. His articles have also appeared in the New York Times Magazine, The Washington Post, Mother Jones, The Los Angeles Times, American Prospect, American Journalism Review, and elsewhere. He lives in the Philadelphia suburbs with his family.

Reimagining Capitalism in a World on Fire


Rebecca Henderson - 2020
    But this success has been costly. Capitalism is on the verge of destroying the planet and destabilizing society as wealth rushes to the top. The time for action is running short.Rebecca Henderson's rigorous research in economics, psychology, and organizational behavior, as well as her many years of work with companies around the world, give us a path forward. She debunks the worldview that the only purpose of business is to make money and maximize shareholder value. She shows that we have failed to reimagine capitalism so that it is not only an engine of prosperity but also a system that is in harmony with environmental realities, the striving for social justice, and the demands of truly democratic institutions. Henderson's deep understanding of how change takes place, combined with fascinating in-depth stories of companies that have made the first steps towards reimagining capitalism, provide inspiring insight into what capitalism can be. Together with rich discussions of important role of government and how the worlds of finance, governance, and leadership must also evolve, Henderson provides the pragmatic foundation for navigating a world faced with unprecedented challenge, but also with extraordinary opportunity for those who can get it right.

Why Capitalism?


Allan H. Meltzer - 2011
    Disenchantment with the market economy hasreached the point that many even question capitalism itself.Allan H. Meltzer disagrees, passionately and persuasively. Drawing on deep expertise as a financial historian and authority on economic theory, he provides a resounding answer to the question, why capitalism? Only capitalism, he writes, maximizes both growth and individual freedom. Unlikesocialism, capitalism is adaptive, not rigid--private ownership of the means of production flourishes wherever it takes root, regardless of culture. Laws intended to tamper with its fundamental dynamics, such as those that redistribute wealth, fail. European countries boasting extensive welfareprograms have not surpassed the more market-oriented United States. Capitalism does require a strong legal framework, Meltzer writes, and it does not solve all problems efficiently. But he finds that its problems stem from universal human weaknesses--such as dishonesty, venality, andexpediency--which are not specific to capitalism. Along the way, he systematically analyzes the role of government, positing that regulations are static, but markets are dynamic, usually seeking ways to skirt the rules. Regulation is socially useful if it brings private costs into line with socialcosts (for example, the cost of taxes to hire policemen compared to that of the impact of rampant crime); if it doesn't, regulation simply invites circumvention.Vigorously argued, sweeping in scope, Why Capitalism? reminds us of the fundamental vitality of the one economic system that has survived every challenge, and risen to dominate the globe.

The Box: How the Shipping Container Made the World Smaller and the World Economy Bigger


Marc Levinson - 2006
    From that modest beginning, container shipping developed into a huge industry that made the boom in global trade possible. "The Box" tells the dramatic story of the container's creation, the decade of struggle before it was widely adopted, and the sweeping economic consequences of the sharp fall in transportation costs that containerization brought about.Published on the fiftieth anniversary of the first container voyage, this is the first comprehensive history of the shipping container. It recounts how the drive and imagination of an iconoclastic entrepreneur, Malcom McLean, turned containerization from an impractical idea into a massive industry that slashed the cost of transporting goods around the world and made the boom in global trade possible.But the container didn't just happen. Its adoption required huge sums of money, both from private investors and from ports that aspired to be on the leading edge of a new technology. It required years of high-stakes bargaining with two of the titans of organized labor, Harry Bridges and Teddy Gleason, as well as delicate negotiations on standards that made it possible for almost any container to travel on any truck or train or ship. Ultimately, it took McLean's success in supplying U.S. forces in Vietnam to persuade the world of the container's potential.Drawing on previously neglected sources, economist Marc Levinson shows how the container transformed economic geography, devastating traditional ports such as New York and London and fueling the growth of previously obscure ones, such as Oakland. By making shipping so cheap that industry could locate factories far from its customers, the container paved the way for Asia to become the world's workshop and brought consumers a previously unimaginable variety of low-cost products from around the globe.

Natural Capitalism


Paul Hawken - 1999
    This groundbreaking book reveals how today's global businesses can be both environmentally responsible and highly profitable.