The Soul of Capitalism: Opening Paths to a Moral Economy


William Greider - 2003
    In The Soul of Capitalism, Greider examines how the greatest wealth-creation engine in the history of the world is failing most of us, why it must be changed, and how specifically it can be transformed. Brilliantly perceptive and sweeping in its ambition, The Soul of Capitalism is also hard-headed and practical, as Greider, one of our most eloquent populist spokesmen, assures us we are not powerless. He illustrates how American capitalism can be aligned more faithfully and obediently with what people want and need in their lives, with what American society needs for a healthy, balanced, and humane future. He proves that it is within our power to reinvent capitalism to make it work for us. The Soul of Capitalism -- solid, pragmatic, visionary, optimistic -- addresses the nation's most urgent needs.

How to Avoid a Climate Disaster: The Solutions We Have and the Breakthroughs We Need


Bill Gates - 2021
    Gates says, "we can work on a local, national, and global level to build the technologies, businesses, and industries to avoid the worst impacts of climate change." His interest in climate change is a natural outgrowth of the efforts by his foundation to reduce poverty and disease. Climate change, according to Gates, will have the biggest impact on the people who have done the least to cause it. As a technologist, he has seen first-hand how innovation can change the world. By investing in research, inventing new technologies, and by deploying them quickly at large scale, Gates believes climate change can be addressed in meaningful ways. According to Gates, "to prevent the worst effects of climate change, we have to get to net-zero emissions of greenhouse gases. This problem is urgent, and the debate is complex, but I believe we can come together to invent new carbon-zero technologies, deploy the ones we have, and ultimately avoid a climate catastrophe."

After the Music Stopped: The Financial Crisis, the Response, and the Work Ahead


Alan S. Blinder - 2013
    financial system, which had grown far too complex for its own good-and too unregulated for the public good-experienced a perfect storm beginning in 2007. When America's financial structure crumbled, the damage proved to be not only deep, but wide. It took the crisis for the world to discover, to its horror, just how truly interconnected-and fragile-the global financial system is. The second part of the story explains how American and international government intervention kept us from a total meltdown. Many of the U.S. government's actions, particularly the Fed's, were previously unimaginable. And to an amazing-and certainly misunderstood-extent, they worked. The worst did not happen. Blinder offers clear-eyed answers to the questions still before us, even if some of the choices ahead are as divisive as they are unavoidable. After the Music Stopped is an essential history that we cannot afford to forget, because one thing history teaches is that it will happen here again.

Green Illusions


Ozzie Zehner - 2012
    We have a consumption crisis. And this book, which takes aim at cherished assumptions regarding energy, offers refreshingly straight talk about what’s wrong with the way we think and talk about the problem. Though we generally believe we can solve environmental problems with more energy—more solar cells, wind turbines, and biofuels—alternative technologies come with their own side effects and limitations. How, for instance, do solar cells cause harm? Why can’t engineers solve wind power’s biggest obstacle? Why won’t contraception solve the problem of overpopulation lying at the heart of our concerns about energy, and what will? This practical, environmentally informed, and lucid book persuasively argues for a change of perspective. If consumption is the problem, as Ozzie Zehner suggests, then we need to shift our focus from suspect alternative energies to improving social and political fundamentals: walkable communities, improved consumption, enlightened governance, and, most notably, women’s rights. The dozens of first steps he offers are surprisingly straightforward. For instance, he introduces a simple sticker that promises a greater impact than all of the nation’s solar cells. He uncovers why carbon taxes won’t solve our energy challenges (and presents two taxes that could). Finally, he explores how future environmentalists will focus on similarly fresh alternatives that are affordable, clean, and can actually improve our well-being. Watch a book trailer.

Garbology: Our Dirty Love Affair with Trash


Edward Humes - 2012
    But our bins are just the starting point for a strange, impressive, mysterious, and costly journey that may also represent the greatest untapped opportunity of the century. In Garbology, Edward Humes investigates trash—what’s in it; how much we pay for it; how we manage to create so much of it; and how some families, communities, and even nations are finding a way back from waste to discover a new kind of prosperity. Along the way , he introduces a collection of garbage denizens unlike anyone you’ve ever met: the trash-tracking detectives of MIT, the bulldozer-driving sanitation workers building Los Angeles’ Garbage Mountain landfill, the artists residing in San Francisco’s dump, and the family whose annual trash output fills not a dumpster or a trash can, but a single mason jar.  Garbology reveals not just what we throw away, but who we are and where our society is headed. Waste is the one environmental and economic harm that ordinary working Americans have the power to change—and prosper in the process.

Currency Wars: The Making of the Next Global Crisis


James Rickards - 2011
    dollar. Today we are engaged in a new currency war, and this time the consequences will be far worse than those that confronted Nixon.Currency wars are one of the most destructive and feared outcomes in international economics. At best, they offer the sorry spectacle of countries' stealing growth from their trading partners. At worst, they degenerate into sequential bouts of inflation, recession, retaliation, and sometimes actual violence. Left unchecked, the next currency war could lead to a crisis worse than the panic of 2008.Currency wars have happened before-twice in the last century alone-and they always end badly. Time and again, paper currencies have collapsed, assets have been frozen, gold has been confiscated, and capital controls have been imposed. And the next crash is overdue. Recent headlines about the debasement of the dollar, bailouts in Greece and Ireland, and Chinese currency manipulation are all indicators of the growing conflict.As James Rickards argues in Currency Wars, this is more than just a concern for economists and investors. The United States is facing serious threats to its national security, from clandestine gold purchases by China to the hidden agendas of sovereign wealth funds. Greater than any single threat is the very real danger of the collapse of the dollar itself.Baffling to many observers is the rank failure of economists to foresee or prevent the economic catastrophes of recent years. Not only have their theories failed to prevent calamity, they are making the currency wars worse. The U. S. Federal Reserve has engaged in the greatest gamble in the history of finance, a sustained effort to stimulate the economy by printing money on a trillion-dollar scale. Its solutions present hidden new dangers while resolving none of the current dilemmas.While the outcome of the new currency war is not yet certain, some version of the worst-case scenario is almost inevitable if U.S. and world economic leaders fail to learn from the mistakes of their predecessors. Rickards untangles the web of failed paradigms, wishful thinking, and arrogance driving current public policy and points the way toward a more informed and effective course of action.

Energy Transitions: History, Requirements, Prospects


Vaclav Smil - 2010
    In a bold and provocative argument, Energy Transitions: History, Requirements, Prospects describes the history of modern society's dependence on fossil fuels and the prospects for the transition to a nonfossil world. Vaclav Smil, who has published more on various aspects of energy than any working scientist, makes it clear that this transition will not be accomplished easily, and that it cannot be accomplished within the timetables established by the Obama administration.The book begins with a survey of the basic properties of modern energy systems. It then offers detailed explanations of universal patterns of energy transitions, the peculiarities of changing energy use in the world's leading economies, and the coming shifts from fossil fuels to renewable conversions. Specific cases of these transitions are analyzed for eight of the world's leading energy consumers. The author closes with perspectives on the nature and pace of the coming energy transition to renewable conversions.

Reimagining Capitalism in a World on Fire


Rebecca Henderson - 2020
    But this success has been costly. Capitalism is on the verge of destroying the planet and destabilizing society as wealth rushes to the top. The time for action is running short.Rebecca Henderson's rigorous research in economics, psychology, and organizational behavior, as well as her many years of work with companies around the world, give us a path forward. She debunks the worldview that the only purpose of business is to make money and maximize shareholder value. She shows that we have failed to reimagine capitalism so that it is not only an engine of prosperity but also a system that is in harmony with environmental realities, the striving for social justice, and the demands of truly democratic institutions. Henderson's deep understanding of how change takes place, combined with fascinating in-depth stories of companies that have made the first steps towards reimagining capitalism, provide inspiring insight into what capitalism can be. Together with rich discussions of important role of government and how the worlds of finance, governance, and leadership must also evolve, Henderson provides the pragmatic foundation for navigating a world faced with unprecedented challenge, but also with extraordinary opportunity for those who can get it right.

Why Nations Fail: The Origins of Power, Prosperity, and Poverty


Daron Acemoğlu - 2012
    None of these factors is either definitive or destiny. Otherwise, how to explain why Botswana has become one of the fastest growing countries in the world, while other African nations, such as Zimbabwe, the Congo, and Sierra Leone, are mired in poverty and violence? Daron Acemoglu and James Robinson conclusively show that it is man-made political and economic institutions that underlie economic success (or lack of it). Korea, to take just one of their fascinating examples, is a remarkably homogeneous nation, yet the people of North Korea are among the poorest on earth while their brothers and sisters in South Korea are among the richest. The south forged a society that created incentives, rewarded innovation, and allowed everyone to participate in economic opportunities. The economic success thus spurred was sustained because the government became accountable and responsive to citizens and the great mass of people. Sadly, the people of the north have endured decades of famine, political repression, and very different economic institutions—with no end in sight. The differences between the Koreas is due to the politics that created these completely different institutional trajectories. Based on fifteen years of original research Acemoglu and Robinson marshall extraordinary historical evidence from the Roman Empire, the Mayan city-states, medieval Venice, the Soviet Union, Latin America, England, Europe, the United States, and Africa to build a new theory of political economy with great relevance for the big questions of today, including:    - China has built an authoritarian growth machine. Will it continue to grow at such high speed and overwhelm the West?    - Are America’s best days behind it? Are we moving from a virtuous circle in which efforts by elites to aggrandize power are resisted to a vicious one that enriches and empowers a small minority?    - What is the most effective way to help move billions of people from the rut of poverty to prosperity? More philanthropy from the wealthy nations of the West? Or learning the hard-won lessons of Acemoglu and Robinson’s breakthrough ideas on the interplay between inclusive political and economic institutions? Why Nations Fail will change the way you look at—and understand—the world.

Red Capitalism: The Fragile Financial Foundation of China's Extraordinary Rise


Carl E. Walter - 2010
    Instead of a stable series of policies producing steady growth, China's financial sector has boomed and gone bust with regularity in each decade. The latest decade is little different. Chinese banks have become objects of political struggle while they totter under balance sheets bloated by the excessive state-directed lending and bond issuance of 2009. Looking forward, the government's response to the global financial crisis has created a banking system the stability of which can be maintained only behind the walls of a non-convertible currency, a myriad of off-balance sheet arrangements with non-public state entities and the strong support of its best borrowers--the politically potent National Champions--who are the greatest beneficiaries of the financial status quo.China's financial system is not a model for the west and, indeed, is not a sustainable arrangement for China itself as it seeks increasingly to assert its influence internationally. This is not a story of impending collapse, but of frustrated reforms that suggests that any full opening and meaningful reform of the financial sector is not, indeed cannot be, on the government's agenda anytime soon.

The Myth of the Rational Market: Wall Street's Impossible Quest for Predictable Markets


Justin Fox - 2008
    The book brings to life the people and ideas that forged modern finance and investing, from the formative days of Wall Street through the Great Depression and into the financial calamity of today. It's a tale that features professors who made and lost fortunes, battled fiercely over ideas, beat the house in blackjack, wrote bestselling books, and played major roles on the world stage. It's also a tale of Wall Street's evolution, the power of the market to generate wealth and wreak havoc, and free market capitalism's war with itself.The efficient market hypothesis--long part of academic folklore but codified in the 1960s at the University of Chicago--has evolved into a powerful myth. It has been the maker and loser of fortunes, the driver of trillions of dollars, the inspiration for index funds and vast new derivatives markets, and the guidepost for thousands of careers. The theory holds that the market is always right, and that the decisions of millions of rational investors, all acting on information to outsmart one another, always provide the best judge of a stock's value. That myth is crumbling.Celebrated journalist and columnist Fox introduces a new wave of economists and scholars who no longer teach that investors are rational or that the markets are always right. Many of them now agree with Yale professor Robert Shiller that the efficient markets theory "represents one of the most remarkable errors in the history of economic thought." Today the theory has given way to counterintuitive hypotheses about human behavior, psychological models of decision making, and the irrationality of the markets. Investors overreact, underreact, and make irrational decisions based on imperfect data. In his landmark treatment of the history of the world's markets, Fox uncovers the new ideas that may come to drive the market in the century ahead.

Dream Hoarders: How the American Upper Middle Class Is Leaving Everyone Else in the Dust, Why That Is a Problem, and What to Do About It


Richard V. Reeves - 2017
    But the most important, consequential, and widening gap in American society is between the upper middle class and everyone else.Reeves defines the upper middle class as those whose incomes are in the top 20 percent of American society. Income is not the only way to measure a society, but in a market economy it is crucial because access to money generally determines who gets the best quality education, housing, health care, and other necessary goods and services.As Reeves shows, the growing separation between the upper middle class and everyone else can be seen in family structure, neighborhoods, attitudes, and lifestyle. Those at the top of the income ladder are becoming more effective at passing on their status to their children, reducing overall social mobility. The result is not just an economic divide but a fracturing of American society along class lines. Upper-middle-class children become upper-middle-class adults.These trends matter because the separation and perpetuation of the upper middle class corrode prospects for more progressive approaches to policy. Various forms of “opportunity hoarding” among the upper middle class make it harder for others to rise up to the top rung. Examples include zoning laws and schooling, occupational licensing, college application procedures, and the allocation of internships. Upper-middle-class opportunity hoarding, Reeves argues, results in a less competitive economy as well as a less open society.Inequality is inevitable and can even be good, within limits. But Reeves argues that society can take effective action to reduce opportunity hoarding and thus promote broader opportunity. This fascinating book shows how American society has become the very class-defined society that earlier Americans rebelled against—and what can be done to restore a more equitable society.

The Second Machine Age: Work, Progress, and Prosperity in a Time of Brilliant Technologies


Erik Brynjolfsson - 2014
    Digital technologies—with hardware, software, and networks at their core—will in the near future diagnose diseases more accurately than doctors can, apply enormous data sets to transform retailing, and accomplish many tasks once considered uniquely human.In The Second Machine Age MIT’s Erik Brynjolfsson and Andrew McAfee—two thinkers at the forefront of their field—reveal the forces driving the reinvention of our lives and our economy. As the full impact of digital technologies is felt, we will realize immense bounty in the form of dazzling personal technology, advanced infrastructure, and near-boundless access to the cultural items that enrich our lives.Amid this bounty will also be wrenching change. Professions of all kinds—from lawyers to truck drivers—will be forever upended. Companies will be forced to transform or die. Recent economic indicators reflect this shift: fewer people are working, and wages are falling even as productivity and profits soar.Drawing on years of research and up-to-the-minute trends, Brynjolfsson and McAfee identify the best strategies for survival and offer a new path to prosperity. These include revamping education so that it prepares people for the next economy instead of the last one, designing new collaborations that pair brute processing power with human ingenuity, and embracing policies that make sense in a radically transformed landscape.A fundamentally optimistic book, The Second Machine Age alters how we think about issues of technological, societal, and economic progress.

Dark Towers: Deutsche Bank, Donald Trump, and an Epic Trail of Destruction


David Enrich - 2020
    Bill Broeksmit had helped build the 150-year-old financial institution into a global colossus, and his sudden death was a mystery, made more so by the bank’s efforts to deter investigation. Broeksmit, it turned out, was a man who knew too much.In Dark Towers, award-winning journalist David Enrich reveals the truth about Deutsche Bank and its epic path of devastation. Tracing the bank’s history back to its propping up of a default-prone American developer in the 1880s, helping the Nazis build Auschwitz, and wooing Eastern Bloc authoritarians, he shows how in the 1990s, via a succession of hard-charging executives, Deutsche made a fateful decision to pursue Wall Street riches, often at the expense of ethics and the law.Soon, the bank was manipulating markets, violating international sanctions to aid terrorist regimes, scamming investors, defrauding regulators, and laundering money for Russian oligarchs. Ever desperate for an American foothold, Deutsche also started doing business with a self-promoting real estate magnate nearly every other bank in the world deemed too dangerous to touch: Donald Trump. Over the next twenty years, Deutsche executives loaned billions to Trump, the Kushner family, and an array of scandal-tarred clients, including convicted sex offender Jeffrey Epstein.Dark Towers is the never-before-told saga of how Deutsche Bank became the global face of financial recklessness and criminality—the corporate equivalent of a weapon of mass destruction. It is also the story of a man who was consumed by fear of what he’d seen at the bank—and his son’s obsessive search for the secrets he kept.

How to Give Up Plastic: A Guide to Changing the World, One Plastic Bottle at a Time


Will McCallum - 2018
    Tips on giving up plastic include:· Washing your clothes within a wash bag to catch plastic microfibers (the cause of 30% of plastic pollution in the ocean)· Replacing your regular shampoo with bar shampoo· How to lobby your supermarket to remove unnecessary packaging · How to throw a plastic-free birthday party· How to convince others to join you in giving up plasticPlastic is not going away without a fight. We need a movement made up of billions of individual acts, bringing people together from all backgrounds and all cultures, the ripples of which will be felt from the smallest village to the tallest skyscrapers. This is a call to arms - to join forces across the world and to end our dependence on plastic.#BreakFreeFromPlastic Plastic is not going away without a fight. We need a movement made up of billions of individual acts, bringing people together from all backgrounds and all cultures, the ripples of which will be felt from the smallest village to the tallest skyscrapers. 'Plastic waste is one of the greatest environmental challenges facing the world' Theresa May'As Head of Oceans at Greenpeace, Will is on the front line of humanity's global fight against plastic. This timely book not only explains how we got into this mess, but most importantly offers an optimistic and proactive approach as to how we can get out of it'. - Richard Walker, Managing Director at Iceland