When high oil prices and economic competition from Japan and Germany battered the American economy, new policies—both international and domestic—became necessary. But war was waged against inflation, rather than against unemployment, and the government promoted a balanced budget instead of growth. This, says Stein, marked the beginning of the age of finance and subsequent deregulation, free trade, low taxation, and weak unions that has fostered inequality and now the worst recession in sixty years.Drawing on extensive archival research and covering the economic, intellectual, political, and labor history of the decade, Stein provides a wealth of information on the 1970s. She also shows that to restore prosperity today, America needs a new model: more factories and fewer financial houses.

    The book was originally published by UNC Press in 1980.

    "The Great Persuasion" is an intellectual history of that project. Angus Burgin traces the evolution of postwar economic thought in order to reconsider many of the most basic assumptions of our market-centered world.Conservatives often point to Friedrich Hayek as the most influential defender of the free market. By examining the work of such organizations as the Mont Pelerin Society, an international association founded by Hayek in 1947 and later led by Milton Friedman, Burgin reveals that Hayek and his colleagues were deeply conflicted about many of the enduring problems of capitalism. Far from adopting an uncompromising stance against the interventionist state, they developed a social philosophy that admitted significant constraints on the market. Postwar conservative thought was more dynamic and cosmopolitan than has previously been understood.It was only in the 1960s and '70s that Friedman and his contemporaries developed a more strident defense of the unfettered market. Their arguments provided a rhetorical foundation for the resurgent conservatism of Barry Goldwater and Ronald Reagan and inspired much of the political and economic agenda of the United States in the ensuing decades. Burgin's brilliant inquiry uncovers both the origins of the contemporary enthusiasm for the free market and the moral quandaries it has left behind.

    . . . Hayton explains how this all came about and points to the growing risks of miscalculation and escalation."—Daniel Yergin, Wall Street Journal China’s rise has upset the global balance of power, and the first place to feel the strain is Beijing’s back yard: the South China Sea. For decades tensions have smoldered in the region, but today the threat of a direct confrontation among superpowers grows ever more likely. This important book is the first to make clear sense of the South Sea disputes. Bill Hayton, a journalist with extensive experience in the region, examines the high stakes involved for rival nations that include Vietnam, India, Taiwan, the Philippines, and China, as well as the United States, Russia, and others. Hayton also lays out the daunting obstacles that stand in the way of peaceful resolution.   Through lively stories of individuals who have shaped current conflicts—businessmen, scientists, shippers, archaeologists, soldiers, diplomats, and more—Hayton makes understandable the complex history and contemporary reality of the South China Sea. He underscores its crucial importance as the passageway for half the world’s merchant shipping and one-third of its oil and gas. Whoever controls these waters controls the access between Europe, the Middle East, South Asia, and the Pacific. The author critiques various claims and positions (that China has historic claim to the Sea, for example), overturns conventional wisdoms (such as America’s overblown fears of China’s nationalism and military resurgence), and outlines what the future may hold for this clamorous region of international rivalry.

    In this reappraisal of America's dilemma of racial and economic inequality, Thomas Sugrue asks why Detroit and other industrial cities have become the sites of persistent racialized poverty.

    Their wager on the future prices of five metals captured the public’s imagination as a test of coming prosperity or doom. Ehrlich, author of the landmark book The Population Bomb, predicted that rising populations would cause overconsumption, resource scarcity, and famine—with apocalyptic consequences for humanity. Simon optimistically countered that human welfare would flourish thanks to flexible markets, technological change, and our collective ingenuity. Simon and Ehrlich’s debate reflected a deepening national conflict over the future of the planet. The Bet weaves the two men’s lives and ideas together with the era’s partisan political clashes over the environment and the role of government. In a lively narrative leading from the dawning environmentalism of the 1960s through the pivotal presidential contest between Jimmy Carter and Ronald Reagan and on into the 1990s, Paul Sabin shows how the fight between Ehrlich and Simon—between environmental fears and free-market confidence—helped create the gulf separating environmentalists and their critics today. Drawing insights from both sides, Sabin argues for using social values, rather than economic or biological absolutes, to guide society’s crucial choices relating to climate change, the planet’s health, and our own.

    Invaded, humiliated and looted, China nonetheless kept its sovereignty. Robert Bickers' major new book is the first to describe fully what has proved to be one of the modern era's most important stories: the long, often agonising process by which the Chinese had by the end of the 20th century regained control of their own country.Out of China uses a brilliant array of unusual, strange and vivid sources to recreate a now fantastically remote world: the corrupt, lurid modernity of pre-War Shanghai, the often tiny patches of 'extra-territorial' land controlled by European powers (one of which, unnoticed, had mostly toppled into a river), the entrepôts of Hong Kong and Macao, and the myriad means, through armed threats, technology and legal chicanery, by which China was kept subservient. Today Chinese nationalism stays firmly rooted in memories of its degraded past - the quest for self-sufficiency, a determination both to assert China's standing in the world and its outstanding territorial claims, and never to be vulnerable to renewed attack. History matters deeply to Beijing's current rulers - and Out of China explains why.

    Even something as simple as buying a shirt depends on an astonishing web of interaction and organization that spans the world. But unlike that other uniquely human attribute, language, our ability to cooperate with strangers did not evolve gradually through our prehistory. Only 10,000 years ago--a blink of an eye in evolutionary time--humans hunted in bands, were intensely suspicious of strangers, and fought those whom they could not flee. Yet since the dawn of agriculture we have refined the division of labor to the point where, today, we live and work amid strangers and depend upon millions more. Every time we travel by rail or air we entrust our lives to individuals we do not know. What institutions have made this possible?In The Company of Strangers, Paul Seabright provides an original evolutionary and sociological account of the emergence of those economic institutions that manage not only markets but also the world's myriad other affairs.Drawing on insights from biology, anthropology, history, psychology, and literature, Seabright explores how our evolved ability of abstract reasoning has allowed institutions like money, markets, and cities to provide the foundation of social trust. But how long can the networks of modern life survive when we are exposed as never before to risks originating in distant parts of the globe? This lively narrative shows us the remarkable strangeness, and fragility, of our everyday lives.

    government complicity in global drug trafficking, The Politics of Heroin includes meticulous documentation of dishonesty and dirty dealings at the highest levels from the Cold War until today. Maintaining a global perspective, this groundbreaking study details the mechanics of drug trafficking in Asia, Europe, the Middle East, and South and Central America. New chapters detail U.S. involvement in the narcotics trade in Afghanistan and Pakistan before and after the fall of the Taliban, and how U.S. drug policy in Central America and Colombia has increased the global supply of illicit drugs.

    The participants in the controversy which raged during June–July this year forgot that as many four previous governors of the RBI have had their terms cut short. The recent debate has to be seen in this context. This volume focuses on all the governors of the RBI since 1935 and describes how almost all of them had problems with the government. It is inherent in the tasks they are charged with. It also shows how, after 1957, when Jawaharlal Nehru accepted the resignation of Benegal Rama Rau after the latter’s quarrel with the finance minister, T. T. Krishnamachari, the RBI virtually became a department of the finance ministry. Its claims to independence have been revived only after 2002, when financial sector reform changed the structure of a large part of the financial economy. The book ends with advice to future governors about what they should remember: they are the servants of the sovereign, not independent Wu-li masters. They have to manage the government, not fight it. Theirs, as a former governor sensibly pointed out, is a circumscribed independence, the perimeters of which are defined by the government.

    Its result is now often called the knowledge economy. But what are the historical origins of this revolution and what have been its mechanisms? In The Gifts of Athena, Joel Mokyr constructs an original framework to analyze the concept of useful knowledge. He argues that the growth explosion in the modern West in the past two centuries was driven not just by the appearance of new technological ideas but also by the improved access to these ideas in society at large--as made possible by social networks comprising universities, publishers, professional sciences, and kindred institutions. Through a wealth of historical evidence set in clear and lively prose, he shows that changes in the intellectual and social environment and the institutional background in which knowledge was generated and disseminated brought about the Industrial Revolution, followed by sustained economic growth and continuing technological change.Mokyr draws a link between intellectual forces such as the European enlightenment and subsequent economic changes of the nineteenth century, and follows their development into the twentieth century. He further explores some of the key implications of the knowledge revolution. Among these is the rise and fall of the factory system as an organizing principle of modern economic organization. He analyzes the impact of this revolution on information technology and communications as well as on the public's state of health and the structure of households. By examining the social and political roots of resistance to new knowledge, Mokyr also links growth in knowledge to political economy and connects the economic history of technology to the New Institutional Economics. The Gifts of Athena provides crucial insights into a matter of fundamental concern to a range of disciplines including economics, economic history, political economy, the history of technology, and the history of science.

    Showing how these political philosophies have all been decisively shaped by the core values of the Enlightenment, he demonstrates that each one contains useful insights that survive their failures as comprehensive doctrines and that should inform our thinking about political legitimacy. Shapiro then turns to the democratic tradition. Exploring the main arguments for and against democracy from Plato's time until our own, he argues that democracy offers the best resources for realizing the Enlightenment's promise and managing its internal tensions. As such, democracy supplies the most attractive available basis for political legitimacy.

    The New Mind Readers provides a compelling look at the origins, development, and future of these extraordinary tools, revealing how they are increasingly being used to decode our thoughts and experiences--and how this raises sometimes troubling questions about their application in domains such as marketing, politics, and the law.Russell Poldrack takes readers on a journey of scientific discovery, telling the stories of the visionaries behind these breakthroughs. Along the way, he gives an insider's perspective on what is perhaps the single most important technology in cognitive neuroscience today--functional magnetic resonance imaging, or fMRI, which is providing astonishing new insights into the contents and workings of the mind. He highlights both the amazing power and major limitations of these techniques and describes how applications outside the lab often exceed the bounds of responsible science. Poldrack also details the unique and sometimes disorienting experience of having his own brain scanned more than a hundred times as part of a landmark study of how human brain function changes over time.Written by one of the world's leading pioneers in the field, The New Mind Readers cuts through the hype and misperceptions surrounding these emerging new methods, offering needed perspective on what they can and cannot do--and demonstrating how they can provide new answers to age-old questions about the nature of consciousness and what it means to be human.

    But the full ramifications of that event are only now becoming apparent, as the Chinese economic juggernaut has evolved in unanticipated and profoundly troublesome ways. In this book, journalist Paul Blustein chronicles the contentious process resulting in China's WTO membership and the transformative changes that followed, both good and bad - for China, for its trading partners, and for the global trading system as a whole. The book recounts how China opened its markets and underwent far-reaching reforms that fuelled its economic takeoff, but then adopted policies - a cheap currency and heavy-handed state intervention - that unfairly disadvantaged foreign competitors and circumvented WTO rules. Events took a potentially catastrophic turn in 2018 with the eruption of a trade war between China and the United States, which has brought the trading system to a breaking point. Regardless of how the latest confrontation unfolds, the world will be grappling for decades with the challenges posed by China Inc." China's entry into the World Trade Organization (WTO) in 2001 was heralded as historic, and for good reason: the world's most populous nation was joining the rule-based system that has governed international commerce since World War II. But the full ramifications of that event are only now becoming apparent, as the Chinese economic juggernaut has evolved in unanticipated and profoundly troublesome ways. In this book, journalist Paul Blustein chronicles the contentious process resulting in China's WTO membership and the transformative changes that followed, both good and bad - for China, for its trading partners, and for the global trading system as a whole. The book recounts how China opened its markets and underwent far-reaching reforms that fuelled its economic takeoff, but then adopted policies - a cheap currency and heavy-handed state intervention - that unfairly disadvantaged foreign competitors and circumvented WTO rules. Events took a potentially catastrophic turn in 2018 with the eruption of a trade war between China and the United States, which has brought the trading system to a breaking point. Regardless of how the latest confrontation unfolds, the world will be grappling for decades with the challenges posed by China Inc.

    A journalist by trade, Lay applied her straightforward observational style with compassion and purpose to the story of Way Way, a teenage village girl whose quiet life assisting her father in his rice-brokerage business is disrupted by the arrival of U Saw Han, the cosmopolitan Burmese rice trader twenty years her senior. When she first encounters him, Way Way is entranced by his Western furnishings, servants, and mannerisms. The two marry, but before long, it becomes clear that U Saw Han’s love is a stifling one that seeks to obliterate her traditional ways.Not Out of Hate was enormously popular in Burma and went through several editions in the 1950s and 1960s. When Ohio University Press published its English translation, in 1991, it became the first significant fictional account of prewar Burma available in English since George Orwell’s Burmese Days, and provided a Burmese counterpoint to Orwell’s novel. Translated into English here for the first time, the novel is an engaging drama, finely observed work of social realism, and stirring rejection of Western cultural dominance.