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.

    Relating the history of the war as it developed, Anderson shows how the complex array of forces brought into conflict helped both to create Britain’s empire and to sow the seeds of its eventual dissolution.Beginning with a skirmish in the Pennsylvania backcountry involving an inexperienced George Washington, the Iroquois chief Tanaghrisson, and the ill-fated French emissary Jumonville, Anderson reveals a chain of events that would lead to world conflagration. Weaving together the military, economic, and political motives of the participants with unforgettable portraits of Washington, William Pitt, Montcalm, and many others, Anderson brings a fresh perspective to one of America’s most important wars, demonstrating how the forces unleashed there would irrevocably change the politics of empire in North America.

    Quality assurance was conducted on each of these books in an attempt to remove books with imperfections introduced by the digitization process. Though we have made best efforts - the books may have occasional errors that do not impede the reading experience. We believe this work is culturally important and have elected to bring the book back into print as part of our continuing commitment to the preservation of printed works worldwide.

    For a hundred years and more after the Revolution, millions of peasants lived on as if in a timeless world, their existence little different from that of the generations before them.The author of this lively, often witty, and always provocative work traces how France underwent a veritable crisis of civilization in the early years of the French Republic as traditional attitudes and practices crumbled under the forces of modernization. Local roads and railways were the decisive factors, bringing hitherto remote and inaccessible regions into easy contact with markets and major centers of the modern world. The products of industry rendered many peasant skills useless, and the expanding school system taught not only the language of the dominant culture but its values as well, among them patriotism. By 1914, France had finally become La Patrie in fact as it had so long been in name.

    While there, she reached out to the trapped Jewish families, going from door to door and asking the parents to trust her with their young children. She started smuggling them out of the walled district, convincing her friends and neighbors to hide them. Driven to extreme measures and with the help of a network of local tradesmen, ghetto residents, and her star-crossed lover in the Jewish resistance, Irena ultimately smuggled thousands of children past the Nazis. She made dangerous trips through the city’s sewers, hid children in coffins, snuck them under overcoats at checkpoints, and slipped them through secret passages in abandoned buildings.But Irena did something even more astonishing at immense personal risk: she kept secret lists buried in bottles under an old apple tree in a friend’s back garden. On them were the names and true identities of those Jewish children, recorded with the hope that their relatives could find them after the war. She could not have known that more than ninety percent of their families would perish.

    Across divides of language, religion, region, and history, ordinary women and men felt a common attachment to their empire, while bureaucrats, soldiers, politicians, and academics devised inventive solutions to the challenges of governing Europe s second largest state. In the decades before and after its dissolution, some observers belittled the Habsburg Empire as a dysfunctional patchwork of hostile ethnic groups and an anachronistic imperial relic. Judson examines their motives and explains just how wrong these rearguard critics were.Rejecting fragmented histories of nations in the making, this bold revision surveys the shared institutions that bridged difference and distance to bring stability and meaning to the far-flung empire. By supporting new schools, law courts, and railroads, along with scientific and artistic advances, the Habsburg monarchs sought to anchor their authority in the cultures and economies of Central Europe. A rising standard of living throughout the empire deepened the legitimacy of Habsburg rule, as citizens learned to use the empire s administrative machinery to their local advantage. Nationalists developed distinctive ideas about cultural difference in the context of imperial institutions, yet all of them claimed the Habsburg state as their empire.The empire s creative solutions to governing its many lands and peoples as well as the intractable problems it could not solve left an enduring imprint on its successor states in Central Europe. Its lessons remain no less important today."

    Named one of the "Young Guns" and one of the "five hot minds in economics" by the Yale Economic Review, he serves on the National Economic Council in Prague, where his provocative writing has achieved bestseller status. How has he done it? By arguing a simple, almost heretical proposition: economics is ultimately about good and evil. In The Economics of Good and Evil, Sedlacek radically rethinks his field, challenging our assumptions about the world. Economics is touted as a science, a value-free mathematical inquiry, he writes, but it's actually a cultural phenomenon, a product of our civilization. It began within philosophy--Adam Smith himself not only wrote The Wealth of Nations, but also The Theory of Moral Sentiments--and economics, as Sedlacek shows, is woven out of history, myth, religion, and ethics. "Even the most sophisticated mathematical model," Sedlacek writes, "is, de facto, a story, a parable, our effort to (rationally) grasp the world around us." Economics not only describes the world, but establishes normative standards, identifying ideal conditions. Science, he claims, is a system of beliefs to which we are committed. To grasp the beliefs underlying economics, he breaks out of the field's confines with a tour de force exploration of economic thinking, broadly defined, over the millennia. He ranges from the epic of Gilgamesh and the Old Testament to the emergence of Christianity, from Descartes and Adam Smith to the consumerism in Fight Club. Throughout, he asks searching meta-economic questions: What is the meaning and the point of economics? Can we do ethically all that we can do technically? Does it pay to be good? Placing the wisdom of philosophers and poets over strict mathematical models of human behavior, Sedlacek's groundbreaking work promises to change the way we calculate economic value.

    Waterloo changed almost everything.’Bestselling author Bernard Cornwell is celebrated for his ability to bring history to life. Here, in his first work of non-fiction, he has written the true story of the epic battle of Waterloo – a momentous turning point in European history – a tale of one campaign, four days and three armies.He focuses on what it was like to be fighting in that long battle, whether officer or private, whether British, Prussian or French; he makes you feel you are present at the scene. The combination of his vivid, gripping style and detailed historical research make this, his first non-fiction book, the number one book for the upcoming 200th anniversary of the Battle of Waterloo.It is a magnificent story. There was heroism on both sides, tragedy too and much misery. Bernard Cornwell brings those combatants back to life, using their memories to recreate what it must have been like to fight in one of the most ghastly battles of history. It was given extra piquancy because all of Europe reckoned that the two greatest soldiers of the age were Napoleon and Wellington, yet the two had never faced each other in battle. Both were acutely aware of that, and aware that history would judge them by the result. In the end it was a victory for Wellington, but when he saw the casualty lists he wept openly. ‘I pray to God,’ he said, ‘I have fought my last battle.’ He had, and it is a story for the ages.

    While there she was reunited with her sister Danka. Each day became a struggle to fulfill the promise Rena made to her mother when the family was forced to split apart--a promise to take care of her sister.One of the few Holocaust memoirs about the lives of women in the camps, Rena's Promise is a compelling story of the fleeting human connections that fostered determination and made survival a possibility. From the bonds between mothers, daughters, and sisters, to the links between prisoners, and even prisoners and guards, Rena's Promise reminds us of the humanity and hope that survives inordinate inhumanity.

    Electric lighting, indoor plumbing, motor vehicles, air travel, and television transformed households and workplaces. But has that era of unprecedented growth come to an end? Weaving together a vivid narrative, historical anecdotes, and economic analysis, The Rise and Fall of American Growth challenges the view that economic growth will continue unabated, and demonstrates that the life-altering scale of innovations between 1870 and 1970 cannot be repeated. Gordon contends that the nation's productivity growth will be further held back by the headwinds of rising inequality, stagnating education, an aging population, and the rising debt of college students and the federal government, and that we must find new solutions. A critical voice in the most pressing debates of our time, The Rise and Fall of American Growth is at once a tribute to a century of radical change and a harbinger of tougher times to come.

    Intellectually brilliant, fearless and profound, he became a leading Victorian liberal thinker, whose works - including On Liberty, Utilitarianism, The Subjection of Women and this autobiography - are among the crowning achievements of the age. Here he describes the pressures placed on him by his childhood, the mental breakdown he suffered as a young man, his struggle to understand a world of feelings and emotions far removed from his father's strict didacticism, and the later development of his own radical beliefs. A moving account of an extraordinary life, this great autobiography reveals a man of deep integrity, constantly searching for truth.

    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.

    That, of course, is a matter of opinion. And there are other layers to the story.With a combination of novelistic flair and historical accuracy, Kate Williams begins by relating the heartbreaking story of Princess Charlotte, the Queen who never was, and her impact on the young Victoria. Our perception of Victoria the Queen is coloured by portraits of her older, widowed self - her dour expression embodying the repressive morality propagated in her time. But Becoming Queen reveals an energetic and vibrant woman, determined to battle for power. It also documents the Byzantine machinations behind Victoria's quest to occupy the throne, and shows how her struggles did not end when finally the crown was placed on her head.In the late eighteenth century, monarchies were in crisis across Europe. Discontented with their mad King, George III, and his spendthrift offspring, the English pinned their hopes on the only legitimate grandchild: Princess Charlotte, daughter of George, Prince of Wales. But Charlotte died at the age of twenty-two, a few hours after giving birth to a stillborn son. A grieving nation immediately began venerating her as someone who would have made an ideal Queen while Charlotte's rackety uncles embarked on a race to produce the next heir.No one thought that little Victoria, daughter of the Duke of Kent, would ascend the throne. She, in turn, became increasingly determined to take control of her own destiny, and clashed constantly not only with her hugely ambitious mother but with her protégé and household comptroller, the Irish adventurer, John Conroy. After she became Queen, ministers, even her beloved Prince Albert, still attempted to steal power away from her.Revealing how Charlotte's death shaped Victoria's reign and laying bare the passions that swirled around the throne, Becoming Queen is an absorbingly dramatic tale of secrets, sexual repression and endless conflict. After her lauded biography of Emma Hamilton, England's Mistress, Kate Williams has produced a most original and intimate portrait of Great Britain's longest reigning monarch.

    Generations of readers have found that it has more to teach them about markets and people than years of experience. This is a timeless tale that will enrich your life--and your portfolio.

    "A moving illumination . . . Remnick is the witness for us all." —Wall Street Journal.