Goddess of the Market: Ayn Rand and the American Right


Jennifer Burns - 2009
    Drawing on unprecedented access to Rand's private papers and the original, unedited versions of Rand's journals, Jennifer Burns offers a groundbreaking reassessment of this key cultural figure, examining her life, her ideas, and her impact on conservative political thought.Goddess of the Market follows Rand from her childhood in Russia through her meteoric rise from struggling Hollywood screenwriter to bestselling novelist, including the writing of her wildly successful The Fountainhead and Atlas Shrugged. Burns highlights the two facets of Rand's work that make her a perennial draw for those on the right: her promotion of capitalism, and her defense of limited government. Both sprang from her early, bitter experience of life under Communism, and became among the most deeply enduring of her messages, attracting a diverse audience of college students and intellectuals, business people and Republican Party activists, libertarians and conservatives. The book also traces the development of Rand's Objectivist philosophy and her relationship with Nathaniel Branden, her closest intellectual partner, with whom she had an explosive falling out in 1968.One of the Denver Post's Great Reads of 2009One of Bloomberg News's Top Nonfiction Books of 2009Excellent.--Time magazineA terrific book--a serious consideration of Rand's ideas, and her role in the conservative movement of the past three quarters of a century.--The American ThinkerA wonderful book: beautifully written, completely balanced, extensively researched. The match between author and subject is so perfect that one might believe that the author was chosen by the gods to write this book. She has sympathy and affection for her subject but treats her as a human being, with no attempt to cover up the foibles.--Mises Economics Blog

The WEIRDest People in the World: How the West Became Psychologically Peculiar and Particularly Prosperous


Joseph Henrich - 2020
    If so, you’re rather psychologically peculiar.Unlike much of the world today, and most people who have ever lived, WEIRD people are highly individualistic, self-obsessed, control-oriented, nonconformist, and analytical. They focus on themselves—their attributes, accomplishments, and aspirations—over their relationships and social roles. How did WEIRD populations become so psychologically distinct? What role did these psychological differences play in the industrial revolution and the global expansion of Europe during the last few centuries?In The WEIRDest People in the World, Joseph Henrich draws on cutting-edge research in anthropology, psychology, economics, and evolutionary biology to explore these questions and more. He illuminates the origins and evolution of family structures, marriage, and religion, and the profound impact these cultural transformations had on human psychology. Mapping these shifts through ancient history and late antiquity, Henrich reveals that the most fundamental institutions of kinship and marriage changed dramatically under pressure from the Roman Catholic Church. It was these changes that gave rise to the WEIRD psychology that would coevolve with impersonal markets, occupational specialization, and free competition—laying the foundation for the modern world.Provocative and engaging in both its broad scope and its surprising details, The WEIRDest People in the World explores how culture, institutions, and psychology shape one another, and explains what this means for both our most personal sense of who we are as individuals and also the large-scale social, political, and economic forces that drive human history. Include black-and-white illustrations.

The Fourth Turning: What the Cycles of History Tell Us about America's Next Rendezvous with Destiny


William Strauss - 1996
    With blazing originality, The Fourth Turning illuminates the past, explains the present, and reimagines the future. Most remarkably, it offers an utterly persuasive prophecy about how America's past will predict its future.Strauss and Howe base this vision on a provocative theory of American history. The authors look back five hundred years and uncover a distinct pattern: Modern history moves in cycles, each one lasting about the length of a long human life, each composed of four eras--or turnings--that last about twenty years and that always arrive in the same order. In The Fourth Turning, the authors illustrate these cycles using a brilliant analysis of the post-World War II period.First comes a High, a period of confident expansion as a new order takes root after the old has been swept away. Next comes an Awakening, a time of spiritual exploration and rebellion against the now-established order. Then comes an Unraveling, an increasingly troubled era in which individualism triumphs over crumbling institutions. Last comes a Crisis--the Fourth Turning--when society passes through a great and perilous gate in history. Together, the four turnings comprise history's seasonal rhythm of growth, maturation, entropy, and rebirth.The Fourth Turning offers bold predictions about how all of us can prepare, individually and collectively, for America's next rendezvous with destiny.

Principles of Political Economy: And Chapters on Socialism


John Stuart Mill - 1848
    It shows him applying his classical economic theory to policy questions of lasting concern: the desirability of sustained growth of national wealth and population, the merits of capitalism versus socialism, and the suitable scope of government intervention in the competitive market economy. His answers to those questions have profound relevance today, and they serve to illustrate the enduring power and imagination of his distinctive liberal utilitarian philosophy. The lucid introduction and explanatory notes clarify Mill's philosophy in relation to his economic theory, and make full use of the most recent scholarship.

The Making of the Indebted Man: An Essay on the Neoliberal Condition


Maurizio Lazzarato - 2011
    They are all 'debtors,' guilty and responsible in the eyes of capital, which has become the Great, the Universal, Creditor."—from The Making of the Indebted ManDebt—both public debt and private debt—has become a major concern of economic and political leaders. In The Making of the Indebted Man, Maurizio Lazzarato shows that, far from being a threat to the capitalist economy, debt lies at the very core of the neoliberal project. Through a reading of Karl Marx's lesser-known youthful writings on John Mill, and a rereading of writings by Friedrich Nietzsche, Gilles Deleuze, Félix Guattari, and Michel Foucault, Lazzarato demonstrates that debt is above all a political construction, and that the creditor/debtor relation is the fundamental social relation of Western societies.Debt cannot be reduced to a simple economic mechanism, for it is also a technique of “public safety” through which individual and collective subjectivities are governed and controlled. Its aim is to minimize the uncertainty of the time and behavior of the governed. We are forever sinking further into debt to the State, to private insurance, and, on a more general level, to corporations. To insure that we honor our debts, we are at once encouraged and compelled to become the “entrepreneurs” of our lives, of our “human capital.” In this way, our entire material, psychological, and affective horizon is upended and reconfigured.How do we extricate ourselves from this impossible situation? How do we escape the neoliberal condition of the indebted man? Lazzarato argues that we will have to recognize that there is no simple technical, economic, or financial solution. We must instead radically challenge the fundamental social relation structuring capitalism: the system of debt.

Rights of Man


Thomas Paine - 1791
    One of Paine's greatest and most widely read works, considered a classic statement of faith in democracy and egalitarianism, defends the early events of the French Revolution, supports social security for workers, public employment for those in need of work, abolition of laws limiting wages, and other social reforms.

Liquidated: An Ethnography of Wall Street


Karen Ho - 2008
    In Liquidated, Karen Ho punctures the aura of the abstract, all-powerful market to show how financial markets, and particularly booms and busts, are constructed. Through an in-depth investigation into the everyday experiences and ideologies of Wall Street investment bankers, Ho describes how a financially dominant but highly unstable market system is understood, justified, and produced through the restructuring of corporations and the larger economy.Ho, who worked at an investment bank herself, argues that bankers’ approaches to financial markets and corporate America are inseparable from the structures and strategies of their workplaces. Her ethnographic analysis of those workplaces is filled with the voices of stressed first-year associates, overworked and alienated analysts, undergraduates eager to be hired, and seasoned managing directors. Recruited from elite universities as “the best and the brightest,” investment bankers are socialized into a world of high risk and high reward. They are paid handsomely, with the understanding that they may be let go at any time. Their workplace culture and networks of privilege create the perception that job insecurity builds character, and employee liquidity results in smart, efficient business. Based on this culture of liquidity and compensation practices tied to profligate deal-making, Wall Street investment bankers reshape corporate America in their own image. Their mission is the creation of shareholder value, but Ho demonstrates that their practices and assumptions often produce crises instead. By connecting the values and actions of investment bankers to the construction of markets and the restructuring of U.S. corporations, Liquidated reveals the particular culture of Wall Street often obscured by triumphalist readings of capitalist globalization.

The Price of Peace: Money, Democracy, and the Life of John Maynard Keynes


Zachary D. Carter - 2020
    Writing a full two years before Keynes would revolutionize the economics world with the publication of The General Theory, Woolf nevertheless found herself unable to condense her friend's already-extraordinary life into anything less than twenty-five themes, which she jotted down at the opening of her homage: "Politics. Art. Dancing. Letters. Economics. Youth. The Future. Glands. Genealogies. Atlantis. Mortality. Religion. Cambridge. Eton. The Drama. Society. Truth. Pigs. Sussex. The History of England. America. Optimism. Stammer. Old Books. Hume."Keynes was not only an economist, as he is remembered today, but the preeminent anti-authoritarian thinker of the twentieth century, a man who devoted his life to the belief that art and ideas could conquer war and deprivation. A moral philosopher, political theorist, and statesman, Keynes immersed himself in a creative milieu filled with ballerinas and literary icons as he developed his own innovative and at times radical thought, reinventing Enlightenment liberalism for the harrowing crises of his day--which included two world wars and an economic collapse that challenged the legitimacy of democratic government itself. The Price of Peace follows Keynes from intimate turn-of-the-century parties in London's riotous Bloomsbury art scene to the fevered negotiations in Paris that shaped the Treaty of Versailles, through stock market crashes and currency crises to diplomatic breakthroughs in the mountains of New Hampshire and wartime ballet openings at Covent Garden.In this riveting biography, veteran journalist Zachary D. Carter unearths the lost legacy of one of history's most important minds. John Maynard Keynes's vibrant, deeply human vision of democracy, art, and the good life has been obscured by technical debates, but in The Price of Peace, Carter revives a forgotten set of ideas with the power to reinvent national government and reframe the principles of international diplomacy in our own time.

We the Corporations: How American Businesses Won Their Civil Rights


Adam Winkler - 2018
    Hardly oppressed like women and minorities, business corporations, too, have fought since the nation’s earliest days to gain equal rights under the Constitution—and today have nearly all the same rights as ordinary people.Exposing the historical origins of Citizens United and Hobby Lobby, Adam Winkler explains how those controversial Supreme Court decisions extending free speech and religious liberty to corporations were the capstone of a centuries-long struggle over corporate personhood and constitutional protections for business. Beginning his account in the colonial era, Winkler reveals the profound influence corporations had on the birth of democracy and on the shape of the Constitution itself. Once the Constitution was ratified, corporations quickly sought to gain the rights it guaranteed. The first Supreme Court case on the rights of corporations was decided in 1809, a half-century before the first comparable cases on the rights of African Americans or women. Ever since corporations have waged a persistent and remarkably fruitful campaign to win an ever-greater share of individual rights.Although corporations never marched on Washington, they employed many of the same strategies of more familiar civil rights struggles: civil disobedience, test cases, and novel legal claims made in a purposeful effort to reshape the law. Indeed, corporations have often been unheralded innovators in constitutional law, and several of the individual rights Americans hold most dear were first secured in lawsuits brought by businesses.Winkler enlivens his narrative with a flair for storytelling and a colorful cast of characters: among others, Daniel Webster, America’s greatest advocate, who argued some of the earliest corporate rights cases on behalf of his business clients; Roger Taney, the reviled Chief Justice, who surprisingly fought to limit protections for corporations—in part to protect slavery; and Roscoe Conkling, a renowned politician who deceived the Supreme Court in a brazen effort to win for corporations the rights added to the Constitution for the freed slaves. Alexander Hamilton, Teddy Roosevelt, Huey Long, Ralph Nader, Louis Brandeis, and even Thurgood Marshall all played starring roles in the story of the corporate rights movement.In this heated political age, nothing can be timelier than Winkler’s tour de force, which shows how America’s most powerful corporations won our most fundamental rights and turned the Constitution into a weapon to impede the regulation of big business.

Private Truths, Public Lies: The Social Consequences of Preference Falsification


Timur Kuran - 1997
    It happens frequently in everyday life, such as when we tell the host of a dinner party that we are enjoying the food when we actually find it bland. In Private Truths, Public Lies Kuran argues convincingly that the phenomenon not only is ubiquitous but has huge social and political consequences. Drawing on diverse intellectual traditions, including those rooted in economics, psychology, sociology, and political science, Kuran provides a unified theory of how preference falsification shapes collective decisions, orients structural change, sustains social stability, distorts human knowledge, and conceals political possibilities.A common effect of preference falsification is the preservation of widely disliked structures. Another is the conferment of an aura of stability on structures vulnerable to sudden collapse. When the support of a policy, tradition, or regime is largely contrived, a minor event may activate a bandwagon that generates massive yet unanticipated change.In distorting public opinion, preference falsification also corrupts public discourse and, hence, human knowledge. So structures held in place by preference falsification may, if the condition lasts long enough, achieve increasingly genuine acceptance. The book demonstrates how human knowledge and social structures co-evolve in complex and imperfectly predictable ways, without any guarantee of social efficiency.Private Truths, Public Lies uses its theoretical argument to illuminate an array of puzzling social phenomena. They include the unexpected fall of communism, the paucity, until recently, of open opposition to affirmative action in the United States, and the durability of the beliefs that have sustained India's caste system.

Bait and Switch: The (Futile) Pursuit of the American Dream


Barbara Ehrenreich - 2005
    Corporations slash employees by the thousands, and the benefits and pensions once guaranteed by "middle-class" jobs are a thing of the past.In Bait and Switch, Barbara Ehrenreich goes back undercover to explore another hidden realm of the economy: the shadowy world of the white-collar unemployed. Armed with the plausible resume of a professional "in transition," she attempts to land a "middle-class" job. She submits to career coaching, personality testing, and EST-like boot camps, and attends job fairs, networking events, and evangelical job-search ministries. She is proselytized, scammed, lectured, and--again and again--rejected.Bait and Switch highlights the people who have done everything right--gotten college degrees, developed marketable skills, and built up impressive resumes--yet have become repeatedly vulnerable to financial disaster. There are few social supports for these newly disposable workers, Ehrenreich discovers, and little security even for those who have jobs. Worst of all, there is no honest reckoning with the inevitable consequences of the harsh new economy; rather, the jobless are persuaded that they have only themselves to blame.Alternately hilarious and tragic, Bait and Switch, like the classic Nickel and Dimed, is a searing expose of the cruel new reality in which we all now live.

How Democracies Die: What History Reveals About Our Future


Steven Levitsky - 2018
    Democracy no longer ends with a bang--in a revolution or military coup--but with a whimper: the slow, steady weakening of critical institutions, such as the judiciary and the press, and the gradual erosion of long-standing political norms. The good news is that there are several exit ramps on the road to authoritarianism. The bad news is that, by electing Trump, we have already passed the first one.Drawing on decades of research and a wide range of historical and global examples, from 1930s Europe to contemporary Hungary, Turkey, and Venezuela, to the American South during Jim Crow, Levitsky and Ziblatt show how democracies die--and how ours can be saved.

Crashed: How a Decade of Financial Crises Changed the World


Adam Tooze - 2018
    In fact it was a dramatic caesura of global significance that spiraled around the world, from the financial markets of the UK and Europe to the factories and dockyards of Asia, the Middle East, and Latin America, forcing a rearrangement of global governance. In the United States and Europe, it caused a fundamental reconsideration of capitalist democracy, eventually leading to the war in the Ukraine, the chaos of Greece, Brexit, and Trump.It was the greatest crisis to have struck Western societies since the end of the Cold War, but was it inevitable? And is it over? Crashed is a dramatic new narrative resting on original themes: the haphazard nature of economic development and the erratic path of debt around the world; the unseen way individual countries and regions are linked together in deeply unequal relationships through financial interdependence, investment, politics, and force; the ways the financial crisis interacted with the spectacular rise of social media, the crisis of middle-class America, the rise of China, and global struggles over fossil fuels.Finally, Tooze asks, given this history, what now are the prospects for a liberal, stable, and coherent world order?

The Roads to Modernity: The British, French, and American Enlightenments


Gertrude Himmelfarb - 2004
    The Roads to Modernity reclaims the Enlightenment–an extraordinary time bursting with new ideas about human nature, politics, society, and religion--from historians who have downgraded its importance and from scholars who have given preeminence to the Enlightenment in France over concurrent movements in England and America.Contrasting the Enlightenments in the three nations, Himmelfarb demonstrates the primacy and wisdom of the British, exemplified in such thinkers as Adam Smith, David Hume, and Edmund Burke, as well as the unique and enduring contributions of the American Founders. It is their Enlightenments, she argues, that created a social ethic–humane, compassionate, and realistic–that still resonates strongly today, in America perhaps even more than in Europe.The Roads to Modernity is a remarkable and illuminating contribution to the history of ideas.

The Myth of Capitalism: Monopolies and the Death of Competition


Jonathan Tepper - 2018
    Digital monopolies like Google, Facebook and Amazon act as gatekeepers to the digital world. Amazon is capturing almost all online shopping dollars. We have the illusion of choice, but for most critical decisions, we have only one or two companies, when it comes to high speed Internet, health insurance, medical care, mortgage title insurance, social networks, Internet searches, or even consumer goods like toothpaste. Every day, the average American transfers a little of their pay check to monopolists and oligopolists. The solution is vigorous anti-trust enforcement to return America to a period where competition created higher economic growth, more jobs, higher wages and a level playing field for all. The Myth of Capitalism is the story of industrial concentration, but it matters to everyone, because the stakes could not be higher. It tackles the big questions of: why is the US becoming a more unequal society, why is economic growth anemic despite trillions of dollars of federal debt and money printing, why the number of start-ups has declined, and why are workers losing out.