Financialization over the past three decades has created a structure that lacks resilience and supports absurd volumes of trading. The finance sector devotes too little attention to the search for new investment opportunities and the stewardship of existing ones, and far too much to secondary-market dealing in existing assets. Regulation has contributed more to the problems than the solutions.Why? What is finance for? John Kay, with wide practical and academic experience in the world of finance, understands the operation of the financial sector better than most. He believes in good banks and effective asset managers, but good banks and effective asset managers are not what he sees.In a dazzling and revelatory tour of the financial world as it has emerged from the wreckage of the 2008 crisis, Kay does not flinch in his criticism: we do need some of the things that Citigroup and Goldman Sachs do, but we do not need Citigroup and Goldman to do them. And many of the things done by Citigroup and Goldman do not need to be done at all. The finance sector needs to be reminded of its primary purpose: to manage other people's money for the benefit of businesses and households. It is an aberration when the some of the finest mathematical and scientific minds are tasked with devising algorithms for the sole purpose of exploiting the weakness of other algorithms for computerized trading in securities. To travel further down that road leads to ruin.

    W. Singer asks'What about the business executives?'Breaking out of the guns-for-hire mold of traditional mercenaries, corporations now sell skills and services that until recently only state militaries possessed. Their products range from trained commando teams to strategic advice from generals.This new'Privatized Military Industry'encompasses hundreds of companies, thousands of employees, and billions of dollars in revenue. Whether as proxies or suppliers, such firms have participated in wars in Africa, Asia, the Balkans, and Latin America. More recently, they have become a key element in U.S. military operations. Private corporations working for profit now sway the course of national and international conflict, but the consequences have been little explored.In this book, Singer provides the first account of the military services industry and its broader implications. Corporate Warriors includes a description of how the business works, as well as portraits of each of the basic types of companies: military providers that offer troops for tactical operations; military consultants that supply expert advice and training; and military support companies that sell logistics, intelligence, and engineering.The privatization of warfare allows startling new capabilities and efficiencies in the ways that war is carried out. At the same time, however, Singer finds that the entrance of the profit motive onto the battlefield raises a series of troubling questions'for democracy, for ethics, for management, for human rights, and for national security.

    The solution is to rein in the market, right? Radical Markets turns this thinking--and pretty much all conventional thinking about markets, both for and against--on its head. The book reveals bold new ways to organize markets for the good of everyone. It shows how the emancipatory force of genuinely open, free, and competitive markets can reawaken the dormant nineteenth-century spirit of liberal reform and lead to greater equality, prosperity, and cooperation.Eric Posner and Glen Weyl demonstrate why private property is inherently monopolistic, and how we would all be better off if private ownership were converted into a public auction for public benefit. They show how the principle of one person, one vote inhibits democracy, suggesting instead an ingenious way for voters to effectively influence the issues that matter most to them. They argue that every citizen of a host country should benefit from immigration--not just migrants and their capitalist employers. They propose leveraging antitrust laws to liberate markets from the grip of institutional investors and creating a data labor movement to force digital monopolies to compensate people for their electronic data.Only by radically expanding the scope of markets can we reduce inequality, restore robust economic growth, and resolve political conflicts. But to do that, we must replace our most sacred institutions with truly free and open competition--Radical Markets shows how.

    In fact, as Liaquat Ahamed reveals, it was the decisions taken by a small number of central bankers that were the primary cause of the economic meltdown, the effects of which set the stage for World War II and reverberated for decades. In Lords of Finance, we meet the neurotic and enigmatic Montagu Norman of the Bank of England, the xenophobic and suspicious Émile Moreau of the Banque de France, the arrogant yet brilliant Hjalmar Schacht of the Reichsbank, and Benjamin Strong of the Federal Reserve Bank of New York, whose façade of energy and drive masked a deeply wounded and overburdened man. After the First World War, these central bankers attempted to reconstruct the world of international finance. Despite their differences, they were united by a common fear—that the greatest threat to capitalism was inflation— and by a common vision that the solution was to turn back the clock and return the world to the gold standard. For a brief period in the mid-1920s they appeared to have succeeded. The world’s currencies were stabilized and capital began flowing freely across the globe. But beneath the veneer of boom-town prosperity, cracks started to appear in the financial system. The gold standard that all had believed would provide an umbrella of stability proved to be a straitjacket, and the world economy began that terrible downward spiral known as the Great Depression. As yet another period of economic turmoil makes headlines today, the Great Depression and the year 1929 remain the benchmark for true financial mayhem. Offering a new understanding of the global nature of financial crises, Lords of Finance is a potent reminder of the enormous impact that the decisions of central bankers can have, of their fallibility, and of the terrible human consequences that can result when they are wrong.

    The shift toward automation is about to create a tsunami of unemployment. Not in the distant future—now. One recent estimate predicts 45 million American workers will lose their jobs within the next twelve years—jobs that won't be replaced. In a future marked by restlessness and chronic unemployment, what will happen to American society? In The War on Normal People, Andrew Yang paints a dire portrait of the American economy. Rapidly advancing technologies like artificial intelligence, robotics and automation software are making millions of Americans' livelihoods irrelevant. The consequences of these trends are already being felt across our communities in the form of political unrest, drug use, and other social ills. The future looks dire-but is it unavoidable? In The War on Normal People, Yang imagines a different future—one in which having a job is distinct from the capacity to prosper and seek fulfillment. At this vision's core is Universal Basic Income, the concept of providing all citizens with a guaranteed income-and one that is rapidly gaining popularity among forward-thinking politicians and economists. Yang proposes that UBI is an essential step toward a new, more durable kind of economy, one he calls "human capitalism."

    Reich, and now he reveals the cycles of power and influence that have perpetuated a new American oligarchy, a shrinking middle class, and the greatest income inequality and wealth disparity in eighty years. He makes clear how centrally problematic our veneration of the "free market" is, and how it has masked the power of the moneyed interests to tilt the market to their benefit. He exposes the falsehoods that have been bolstered by the corruption of our democracy by big corporations and the revolving door between Washington and Wall Street-- that all workers are paid what they're "worth," a higher minimum wage equals fewer jobs, corporations must serve shareholders before employees. Ever the pragmatist, Reich sees hope for reversing our slide toward inequality and diminished opportunity by shoring up the countervailing power of everyone else. Here is a revelatory indictment of our economic status quo and an empowering call to civic action.

    Rather, they are symptoms of a much deeper malaise which can be traced all the way back to the Great Crash of 1929, then on through to the 1970s: the time when a ‘Global Minotaur’ was born. Just as the Athenians maintained a steady flow of tributes to the Cretan beast, so the ‘rest of the world’ began sending incredible amounts of capital to America and Wall Street. Thus, the Global Minotaur became the ‘engine’ that pulled the world economy from the early 1980s to 2008.Today’s crisis in Europe, the heated debates about austerity versus further fiscal stimuli in the US, the clash between China’s authorities and the Obama administration on exchange rates are the inevitable symptoms of the weakening Minotaur; of a global ‘system’ which is now as unsustainable as it is imbalanced. Going beyond this, Varoufakis lays out the options available to us for reintroducing a modicum of reason into a highly irrational global economic order.An essential account of the socio-economic events and hidden histories that have shaped the world as we now know it.

    Why do we mistrust people more in the UK than in Japan? Why do Americans have higher rates of teenage pregnancy than the French? What makes the Swedish thinner than the Greeks? The answer: inequality. This groundbreaking book, based on years of research, provides hard evidence to show how almost everything—-from life expectancy to depression levels, violence to illiteracy-—is affected not by how wealthy a society is, but how equal it is. Urgent, provocative and genuinely uplifting, The Spirit Level has been heralded as providing a new way of thinking about ourselves and our communities, and could change the way you see the world.

    government for trying to steal trade secrets, by a finalist for the Pulitzer Prize in nonfiction.In September 2011, sheriff's deputies in Iowa encountered three ethnic Chinese men near a field where a farmer was growing corn seed under contract with Monsanto. What began as a simple trespassing inquiry mushroomed into a two-year FBI operation in which investigators bugged the men's rental cars, used a warrant intended for foreign terrorists and spies, and flew surveillance planes over corn country--all in the name of protecting trade secrets of corporate giants Monsanto and DuPont Pioneer. In The Scientist and the Spy, Hvistendahl gives a gripping account of this unusually far-reaching investigation, which pitted a veteran FBI special agent against Florida resident Robert Mo, who after his academic career foundered took a questionable job with the Chinese agricultural company DBN--and became a pawn in a global rivalry.Industrial espionage by Chinese companies lies beneath the United States' recent trade war with China, and it is one of the top counterintelligence targets of the FBI. But a decade of efforts to stem the problem have been largely ineffective. Through previously unreleased FBI files and her reporting from across the United States and China, Hvistendahl describes a long history of shoddy counterintelligence on China, much of it tinged with racism, and questions the role that corporate influence plays in trade secrets theft cases brought by the U.S. government. The Scientist and the Spy is both an important exploration of the issues at stake and a compelling, involving read.

    The result is an accessible text that has sold well over half a million copies in English, has been translated into eighteen languages, and shows every sign of becoming more and more influential as time goes on.

    American sentiment seems to be leaning increasingly toward withdrawal in the face of such disarray. In this powerful, urgent essay, Robert Kagan elucidates the reasons why American withdrawal would be the worst possible response, based as it is on a fundamental and dangerous misreading of the world. Like a jungle that keeps growing back after being cut down, the world has always been full of dangerous actors who, left unchecked, possess the desire and ability to make things worse. Kagan makes clear how the "realist" impulse to recognize our limitations and focus on our failures misunderstands the essential role America has played for decades in keeping the world's worst instability in check. A true realism, he argues, is based on the understanding that the historical norm has always been toward chaos--that the jungle will grow back, if we let it.

    In this magisterial new work, Giovanni Arrighi shows how China’s extraordinary rise invites us to read The Wealth of Nations in a radically different way than is usually done. He examines how the recent US attempt to bring into existence the first truly global empire in world history was conceived in order to counter China’s spectacular economic success of the 1990s, and how the US’s disastrous failure in Iraq has made the People’s Republic of China the true winner of the US War on Terror. In the 21st century, China may well become again the kind of noncapitalist market economy that Smith described, under totally different domestic and world-historical conditions.

     The next ten years will be a time of massive transition. The wars in the Islamic world will be subsiding, and terrorism will become something we learn to live with. China will be encountering its crisis. We will be moving from a time when financial crises dominate the world to a time when labor shortages will begin to dominate. The new century will be taking shape in the next decade. In The Next Decade, George Friedman offers readers a pro­vocative and endlessly fascinating prognosis for the immedi­ate future. Using Machiavelli’s The Prince as a model, Friedman focuses on the world’s leaders—particularly the American president—and with his trusted geopolitical insight analyzes the complex chess game they will all have to play. The book also asks how to be a good president in a decade of extraordinary challenge, and puts the world’s leaders under a microscope to explain how they will arrive at the decisions they will make—and the consequences these actions will have for us all.From the Hardcover edition.

    Unfortunately, many of these judgments are poorly thought through. A president is either praised for the moral clarity of his statements or judged solely on the results of their actions. Woodrow Wilson showed, however, that good intentions without adequate means can lead to ethically bad consequences. Richard Nixon, on the other hand, is credited with ending the Vietnam War, but he sacrificed 21,000 American lives and countless others for only a brief "decent interval."In Do Morals Matter?, Joseph S. Nye, Jr., one of the world's leading scholars of international relations, provides a concise yet penetrating analysis of the role of ethics in US foreign policy during the American era after 1945. Nye works through each presidency from Truman to Trump and scores their foreign policy on three ethical dimensions of their intentions, the means they used, and the consequences of their decisions. Alongside this, he also evaluates their leadership qualities, elaborating on which approaches work and which ones do not. Regardless of a president's policy preference, Nye shows that each one was not constrained by the structure of the system and actually had choices. He further notes the important ethical consequences of non-actions, such as Truman's willingness to accept stalemate in Korea rather than use nuclear weapons.Since we so often apply moral reasoning to foreign policy, Nye suggests how to do it better. Most importantly, presidents need to factor in both the political context and the availability of resources when deciding how to implement an ethical policy--especially in a future international system that presents not only great power competition from China and Russia, but transnational threats as borders become porous to everything from drugs to infectious diseases to terrorism to cyber criminals and climate change.

    By examining what they thought and what they did through lively and absorbing portraits, Schell and Delury chart how China made its tortured transformation from a weak, humiliated country under foreign assault to its astonishing rise in the early 21st century. In so doing, they provide us with a deeper and richer understanding of China's present success story.