She details the emergence of the futures business as a kind of meeting place for gamblers and farmers and its subsequent transformation into a sophisticated electronic market where contracts are traded at lightning-fast speeds. Lambert also details the disastrous effects of Wall Street's adoption of the futures contract without the rules and close-knit social bonds that had made trading it in Chicago work so well. Ultimately Lambert argues that the futures markets are the real "free" markets and that speculators, far from being mere parasites, can serve a vital economic and social function given the right architecture. The traditional futures market, she explains, because of its written and cultural limits, can serve as a useful example for how markets ought to work and become a tonic for our current financial ills.

    Who are these people? Over more than 200 years, the American voters have sent a platoon of rogues, cowards, drunks, featherweights, doddering geriatrics, bigots, and atrocious spellers to Washington D.C. to sit one bullet, cerebral hemorrhage, or case of pneumonia away from the highest office in the land. Veeps tells the sordid, head-scratching, perversely-entertaining stories of these men we've chosen to ride shotgun in the biggest rig in democracy, without ever seriously considering the possibility that they might have to take the wheel.

    His book appears in the fifth year of a lackluster recovery from the overmedicated downturn of 2007–2009.In 1920–21, Woodrow Wilson and Warren G. Harding met a deep economic slump by seeming to ignore it, implementing policies that most twenty-first century economists would call backward. Confronted with plunging prices, wages, and employment, the government balanced the budget and, through the Federal Reserve, raised interest rates. No “stimulus” was administered, and a powerful, job-filled recovery was under way by late in 1921.In 1929, the economy once again slumped—and kept right on slumping as the Hoover administration adopted the very policies that Wilson and Harding had declined to put in place. Grant argues that well-intended federal intervention, notably the White House-led campaign to prop up industrial wages, helped to turn a bad recession into America’s worst depression. He offers the experience of the earlier depression for lessons for today and the future. This is a powerful response to the prevailing notion of how to fight recession. The enterprise system is more resilient than even its friends give it credit for being, Grant demonstrates.

    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 shows us how, over the last half-century, America's core values--meritocracy, innovation, due process, free speech, and even democracy itself--have somehow managed to power its decline into dysfunction. They have isolated our best and brightest, whose positions at the top have never been more secure or more remote. The result has been an erosion of responsibility and accountability, an epidemic of shortsightedness, an increasingly hollow economic and political center, and millions of Americans gripped by apathy and hopelessness. By examining the people and forces behind the rise of big-money lobbying, legal and financial engineering, the demise of private-sector unions, and a hamstrung bureaucracy, Brill answers the question on everyone's mind: How did we end up this way? Finally, he introduces us to those working quietly and effectively to repair the damages. At once a diagnosis of our national ills, a history of their development, and a prescription for a brighter future, Tailspin is a work of riveting journalism--and a welcome antidote to political despair.

    We have been through the biggest financial crisis since the Great Depression, unemployment remains stubbornly high, and talk of a double-dip recession persists. Americans are not pulling the world economy out of its sluggish state -- if anything we are looking to Asia to drive a recovery. Median wages have risen only slowly since the 1970s, and this multi-decade stagnation is not yet over. By contrast, the living standards of earlier generations would double every few decades. The Democratic Party seeks to expand government spending even when the middle class feels squeezed, the public sector doesn't always perform well, and we have no good plan for paying for forthcoming entitlement spending. To the extent Republicans have a consistent platform, it consists of unrealistic claims about how tax cuts will raise revenue and stimulate economic growth. The Republicans, when they hold power, are often a bigger fiscal disaster than the Democrats. How did we get into this mess? Imagine a tropical island where the citrus and bananas hang from the trees. Low-hanging literal fruit -- you don't even have to cook the stuff. In a figurative sense, the American economy has enjoyed lots of low-hanging fruit since at least the seventeenth century: free land; immigrant labor; and powerful new technologies. Yet during the last forty years, that low-hanging fruit started disappearing and we started pretending it was still there. We have failed to recognize that we are at a technological plateau and the trees are barer than we would like to think. That's it. That is what has gone wrong. The problem won't be solved overnight, but there are reasons to be optimistic. We simply have to recognize the underlying causes of our past prosperity-low hanging fruit-and how we will come upon more of it.

     It is also a story of dramatic financial panics that defined the nation, created its political parties, and forced tens of thousands to escape their creditors to new towns in Texas, Florida, and California.  As far back as 1792, these panics boiled down to one simple question: Would Americans pay their debts—or were we just a nation of deadbeats? From the merchant William Duer’s attempts to speculate on post–Revolutionary War debt, to an ill-conceived 1815 plan to sell English coats to Americans on credit, to the debt-fueled railroad expansion that precipitated the Panic of 1857, Scott Reynolds Nelson offers a crash course in America’s worst financial disasters—and a concise explanation of the first principles that caused them all. Nelson shows how consumer debt, both at the highest levels of finance and in the everyday lives of citizens, has time and again left us unable to make good. The problem always starts with the chain of banks, brokers, moneylenders, and insurance companies that separate borrowers and lenders.  At a certain point lenders cannot tell good loans from bad—and when chits are called in, lenders frantically try to unload the debts, hide from their own creditors, go into bankruptcy, and lobby state and federal institutions for relief. With a historian’s keen observations and a storyteller’s nose for character and incident, Nelson captures the entire sweep of America’s financial history in all its utter irrationality: national banks funded by smugglers; fistfights in Congress over the gold standard; and presidential campaigns forged in stinging controversies on the subject of private debt. A Nation of Deadbeats is a fresh, irreverent look at Americans’ addiction to debt and how it has made us what we are today.

    Professor Drezner takes you behind the headlines and into the debates to dispel common myths about prosperity and get at deeper truths. By taking a broad view of economics that includes psychology, sociology, political science, and history, his lectures lead you to fundamental insights about how the modern world works and a deeper understanding of the functioning of the U.S., European, Chinese, and other major economies, as well as an appreciation for the special problems faced by underdeveloped nations. You'll examine dozens of case histories that illustrate what works and doesn't work in the drive to increase economic growth. You'll also learn about intriguing examples of prosperity won or lost, including the Dutch tulip mania in 1637, the era of globalization that started in the 1850s and lasting through World War I, and Ukraine's economic missteps after the breakup of the Soviet Union. As a start on your own road to greater prosperity, take this step to invest in an unparalleled explanation of the prerequisites to achieve it.

    By weaving together the epic sagas of the industry’s four greatest fortunes, Burrough has produced an enthralling tale of money, family, and power in the American century. Known in their day as the Big Four, Roy Cullen, H. L. Hunt, Clint Murchison, and Sid Richardson were all from modest backgrounds, and all became patriarchs of the wealthiest oil families in Texas. As a class they came to be known as the Big Rich, and together they created a new legend in America—the swaggering Texas oilman who owns private islands, sprawling ranches and perhaps a football team or two, and mingles with presidents and Hollywood stars. The truth more than lives up to the myth. Along with their peers, the Big Four shifted wealth and power in America away from the East Coast, sending three of their state’s native sons to the White House and largely bankrolling the rise of modern conservatism in America. H. L. Hunt became America’s richest man by grabbing Texas’s largest oilfield out from under the nose of the man who found it; he was also a lifelong bigamist. Clint Murchison entertained British royalty on his Mexican hacienda and bet on racehorses—and conducted dirty deals—with J. Edgar Hoover. Roy Cullen, an elementary school dropout, used his millions to revive the hapless Texas GOP. And Sid Richardson, the Big Four’s fun-loving bachelor, was a friend of several presidents, including, most fatefully, Lyndon Johnson. The Big Four produced offspring who frequently made more headlines, and in some cases more millions, than they did. With few exceptions, however, their fortunes came to an end in a swirl of bitter family feuds, scandals, and bankruptcies, and by the late 1980s, the era of the Big Rich was over. But as Texas native Bryan Burrough reveals in this hugely entertaining account, the profound economic, political, and cultural influence of Texas oil is still keenly felt today.

    Constitution was amended to restrict one of America’s favorite pastimes: drinking alcoholic beverages. From its start, America has been awash in drink. The sailing vessel that brought John Winthrop to the shores of the New World in 1630 carried more beer than water. By the 1820s, liquor flowed so plentifully it was cheaper than tea. That Americans would ever agree to relinquish their booze was as improbable as it was astonishing. Yet we did, and Last Call is Daniel Okrent’s dazzling explanation of why we did it, what life under Prohibition was like, and how such an unprecedented degree of government interference in the private lives of Americans changed the country forever. Writing with both wit and historical acuity, Okrent reveals how Prohibition marked a confluence of diverse forces: the growing political power of the women’s suffrage movement, which allied itself with the antiliquor campaign; the fear of small-town, native-stock Protestants that they were losing control of their country to the immigrants of the large cities; the anti-German sentiment stoked by World War I; and a variety of other unlikely factors, ranging from the rise of the automobile to the advent of the income tax. Through it all, Americans kept drinking, going to remarkably creative lengths to smuggle, sell, conceal, and convivially (and sometimes fatally) imbibe their favorite intoxicants. Last Call is peopled with vivid characters of an astonishing variety: Susan B. Anthony and Billy Sunday, William Jennings Bryan and bootlegger Sam Bronfman, Pierre S. du Pont and H. L. Mencken, Meyer Lansky and the incredible—if long-forgotten—federal official Mabel Walker Willebrandt, who throughout the twenties was the most powerful woman in the country. (Perhaps most surprising of all is Okrent’s account of Joseph P. Kennedy’s legendary, and long-misunderstood, role in the liquor business.) It’s a book rich with stories from nearly all parts of the country. Okrent’s narrative runs through smoky Manhattan speakeasies, where relations between the sexes were changed forever; California vineyards busily producing “sacramental” wine; New England fishing communities that gave up fishing for the more lucrative rum-running business; and in Washington, the halls of Congress itself, where politicians who had voted for Prohibition drank openly and without apology. Last Call is capacious, meticulous, and thrillingly told. It stands as the most complete history of Prohibition ever written and confirms Daniel Okrent’s rank as a major American writer.

    All three astronauts were experienced pilots and had dreams of one day walking on the moon, but little did they know, nor did anyone else, that once they entered the spacecraft that cold winter day they would never leave it alive. The Apollo program would be perilously close to failure before it ever got off the ground. But rather than dooming the space program, this tragedy caused the spacecraft to be completely overhauled, creating a stellar flying machine to achieve the program’s primary goal: putting man on the moon. Apollo 1 is a candid portrayal of the astronauts, the disaster that killed them, and its aftermath. In it, readers will learn: How the Apollo 1 spacecraft was doomed from the start, with miles of uninsulated wiring and tons of flammable materials in a pure oxygen atmosphere, along with a hatch that wouldn’t open How, due to political pressure, the government contract to build the Apollo 1 craft went to a bidder with an inferior plan How public opinion polls were beginning to turn against the space control before the tragedy and got much worse after Apollo 1 is about America fulfilling its destiny of man setting foot on the moon. It’s also about the three American heroes who lost their lives in the tragedy, but whose lives were not lost in vain.

    With Desperate Sons, the New York Times bestselling author of Bringing Adam Home tells the remarkable story of America’s first patriots, the Sons of Liberty, whose revolutionary acts have become legend. With all the suspense and power of a historical action thriller, Standiford’s Desperate Sons recounts the courage and tenacity of a hardy group that included Samuel Adams, Patrick Henry, and John Hancock—radical activists who were responsible for some of the most notorious events leading up to the American Revolution, from the Boston Tea Party to Paul Revere’s fabled midnight ride. Fans of David McCullough’s John Adams and 1776 will be riveted by this true history of young men inflamed by the fires of common purpose who helped a new nation to rise up against its British oppressor.

    Seismic shifts during a single generation have created a country of winners and losers, allowing unprecedented freedom while rending the social contract, driving the political system to the verge of breakdown, and setting citizens adrift to find new paths forward. In The Unwinding, George Packer, author of The Assassins' Gate: America in Iraq, tells the story of the United States over the past three decades in an utterly original way, with his characteristically sharp eye for detail and gift for weaving together complex narratives.The Unwinding journeys through the lives of several Americans, including Dean Price, the son of tobacco farmers, who becomes an evangelist for a new economy in the rural South; Tammy Thomas, a factory worker in the Rust Belt trying to survive the collapse of her city; Jeff Connaughton, a Washington insider oscillating between political idealism and the lure of organized money; and Peter Thiel, a Silicon Valley billionaire who questions the Internet's significance and arrives at a radical vision of the future. Packer interweaves these intimate stories with biographical sketches of the era's leading public figures, from Newt Gingrich to Jay-Z, and collages made from newspaper headlines, advertising slogans, and song lyrics that capture the flow of events and their undercurrents.The Unwinding portrays a superpower in danger of coming apart at the seams, its elites no longer elite, its institutions no longer working, its ordinary people left to improvise their own schemes for success and salvation. Packer's novelistic and kaleidoscopic history of the new America is his most ambitious work to date.One of the iTunes Bookstore's "Ten Books You Must Read This Summer"

    Koch is everywhere: from the fertilizers that make our food to the chemicals that make our pipes to the synthetics that make our carpets and diapers to the Wall Street trading in all these commodities. But few people know much about Koch Industries and that’s because the billionaire Koch brothers have wanted it that way. For five decades, CEO Charles Koch has kept Koch Industries quietly operating in deepest secrecy, with a view toward very, very long-term profits. He’s a genius businessman: patient with earnings, able to learn from his mistakes, determined that his employees develop a reverence for free-market ruthlessness, and a master disrupter. These strategies made him and his brother David together richer than Bill Gates. But there’s another side to this story. If you want to understand how we killed the unions in this country, how we widened the income divide, stalled progress on climate change, and how our corporations bought the influence industry, all you have to do is read this book.

    An accessible look at how the government promoted the housing bubble that it is now using for its own ends.