13 Bankers: The Wall Street Takeover and the Next Financial Meltdown


Simon Johnson - 2010
    Anchored by six megabanks—Bank of America, JPMorgan Chase, Citigroup, Wells Fargo, Goldman Sachs, and Morgan Stanley—which together control assets amounting, astonishingly, to more than 60 percent of the country’s gross domestic product, these financial institutions (now more emphatically “too big to fail”) continue to hold the global economy hostage, threatening yet another financial meltdown with their excessive risk-taking and toxic “business as usual” practices. How did this come to be—and what is to be done? These are the central concerns of 13 Bankers, a brilliant, historically informed account of our troubled political economy. In 13 Bankers, Simon Johnson—one of the most prominent and frequently cited economists in America (former chief economist of the International Monetary Fund, Professor of Entrepreneurship at MIT, and author of the controversial “The Quiet Coup” in The Atlantic)—and James Kwak give a wide-ranging, meticulous, and bracing account of recent U.S. financial history within the context of previous showdowns between American democracy and Big Finance: from Thomas Jefferson to Andrew Jackson, from Theodore Roosevelt to Franklin Delano Roosevelt. They convincingly show why our future is imperiled by the ideology of finance (finance is good, unregulated finance is better, unfettered finance run amok is best) and by Wall Street’s political control of government policy pertaining to it. As the authors insist, the choice that America faces is stark: whether Washington will accede to the vested interests of an unbridled financial sector that runs up profits in good years and dumps its losses on taxpayers in lean years, or reform through stringent regulation the banking system as first and foremost an engine of economic growth. To restore health and balance to our economy, Johnson and Kwak make a radical yet feasible and focused proposal: reconfigure the megabanks to be “small enough to fail.” Lucid, authoritative, crucial for its timeliness, 13 Bankers is certain to be one of the most discussed and debated books of 2010.

Sisters in Hate: American Women on the Front Lines of White Nationalism


Seyward Darby - 2020
    Trump, journalist Seyward Darby went looking for the women of the so-called alt-right--really just white nationalism with a new label. The mainstream media depicted the alt-right as a bastion of angry white men, but was it? As women headlined resistance to the Trump administration's bigotry and sexism, most notably at the women's marches, Darby wanted to know why others were joining a movement espousing racism and anti-feminism. Who were these women, and what did their activism reveal about America's past, present, and future? Darby researched dozens of women across the country before settling on three: Corinna Olsen, Ayla Stewart, and Lana Lokteff. Each was born in 1979 and became a white nationalist in the post-9/11 era. Their respective stories of radicalization upend much of what we assume about women, politics, and political extremism.

All the Single Ladies: Unmarried Women and the Rise of an Independent Nation


Rebecca Traister - 2016
    It was the year the proportion of American women who were married dropped below fifty percent; and the median age of first marriages, which had remained between twenty and twenty-two years old for nearly a century (1890–1980), had risen dramatically to twenty-seven. But over the course of her vast research and more than a hundred interviews with academics and social scientists and prominent single women, Traister discovered a startling truth: The phenomenon of the single woman in America is not a new one. And historically, when women were given options beyond early heterosexual marriage, the results were massive social change—temperance, abolition, secondary education, and more. Today, only twenty percent of Americans are married by age twenty-nine, compared to nearly sixty percent in 1960.

Give People Money: The Simple Idea to Solve Inequality and Revolutionise Our Lives


Annie Lowrey - 2018
    It sounds crazy, but it has become one of the most influential and hotly debated policy ideas of our time. Futurists, radicals, libertarians, socialists, union representatives, feminists, conservatives, Bernie supporters, development economists, child-care workers, welfare recipients, and politicians from India to Finland to Canada to Mexico--all are talking about UBI.In this sparkling and provocative book, economics writer Annie Lowrey looks at the global UBI movement. She travels to Kenya to see how a UBI is lifting the poorest people on earth out of destitution, India to see how inefficient government programs are failing the poor, South Korea to interrogate UBI's intellectual pedigree, and Silicon Valley to meet the tech titans financing UBI pilots in expectation of a world with advanced artificial intelligence and little need for human labor.Lowrey examines the potential of such a sweeping policy and the challenges the movement faces, among them contradictory aims, uncomfortable costs, and, most powerfully, the entrenched belief that no one should get something for nothing. She shows how this arcane policy offers not only a potential answer for our most intractable economic and social problems, but also a better foundation for our society in this age of turbulence and marvels.

Evicted: Poverty and Profit in the American City


Matthew Desmond - 2016
    Evicted transforms our understanding of poverty and economic exploitation while providing fresh ideas for solving one of 21st-century America's most devastating problems. Its unforgettable scenes of hope and loss remind us of the centrality of home, without which nothing else is possible.

Moneyland: Why Thieves and Crooks Now Rule the World and How To Take It Back


Oliver Bullough - 2018
    He could buy himself a new car or build himself a nice house or give it to his friends and family, but that was about it. If he kept stealing, the money would just pile up in his house until he had no rooms left to put it in, or it was eaten by mice.And then some bankers in London had a bright idea.Join the investigative journalist Oliver Bullough on a journey into Moneyland - the secret country of the lawless, stateless superrich.Learn how the institutions of Europe and the United States have become money-laundering operations, undermining the foundations of Western stability. Discover the true cost of being open for business no matter how corrupt and dangerous the customer. Meet the kleptocrats. Meet their awful children. And find out how heroic activists around the world are fighting back.This is the story of wealth and power in the 21st century. It isn't too late to change it.

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.

Win Bigly: Persuasion in a World Where Facts Don't Matter


Scott Adams - 2017
     Scott Adams--a trained hypnotist and a lifelong student of persuasion--was one of the earliest public figures to predict Trump's win, doing so a week after Nate Silver put Trump's odds at 2 percent in his FiveThirtyEight.com blog. The mainstream media regarded Trump as a novelty and a sideshow. But Adams recognized in Trump a level of persuasion you only see once in a generation.Trump triggered massive cognitive dissonance and confirmation bias on both the left and the right. We're hardwired to respond to emotion, not reason. We might listen to 10 percent of a speech--a hand gesture here, a phrase there--and if the right buttons are pushed, we irrationally agree with the speaker and invent reasons to justify that decision after the fact.The point isn't whether Trump was right or wrong, good or bad. Win Bigly goes beyond politics to look at persuasion tools that can work in any setting--the same ones Adams saw in Steve Jobs when he invested in Apple decades ago. For instance:- If you need to convince people that something is important, make a claim that's directionally accurate but has a big exaggeration in it. Everyone will spend endless hours talking about how wrong it is while accidentally persuading themselves the issue is a high priority. - Stop wasting time on elaborate presentations. Inside, you'll learn which components of your messaging matter, and where you can wing it. - Creating "linguistic kill shots" with persuasion engineering (such as "Low-energy Jeb") can be more powerful than facts and policies.Adams offers nothing less than "access to the admin passwords to human beings." This is a must-read if you care about persuading others in any field--or if you just want to resist persuasion from others.

White Working Class: Overcoming Class Cluelessness in America


Joan C. Williams - 2017
    Meanwhile, the professional elite—journalists, managers, and establishment politicians—is on the outside looking in, and left to argue over the reasons why. In White Working Class, Joan C. Williams, described as “something approaching rock star status” in her field by the New York Times, explains why so much of the elite’s analysis of the white working class is misguided, rooted in assumptions by what she has controversially coined “class cluelessness.”Williams explains how most analysts, and the corresponding media coverage, have conflated “working class” with “poor.” All too often, white working class motivations have been dismissed as simply racism or xenophobia. Williams explains how the term “working class” has been misapplied—it is, in fact, the elusive, purportedly disappearing middle class. This demographic often resents both the poor and the professionals. They don’t, however, tend to resent the truly rich, nor are they particularly bothered by income inequality. Their dream is not to join the upper middle class, with its different culture, but to stay true to their own values in their own communities—just with more money.White Working Class is a blunt, bracing narrative that sketches a nuanced portrait of millions of people throughout the world who have proven to be a potent political force. For anyone stunned by the rise in populist, nationalist movements, wondering why so many would seemingly vote against their own economic interests or simply feeling like a stranger in their own country, White Working Class will be a convincing primer on how to connect with a crucial set of workers—and voters.

Americana: A 400-Year History of American Capitalism


Bhu Srinivasan - 2017
    Americana takes us on a four-hundred-year journey of this spirit of innovation and ambition through a series of Next Big Things -- the inventions, techniques, and industries that drove American history forward: from the telegraph, the railroad, guns, radio, and banking to flight, suburbia, and sneakers, culminating with the Internet and mobile technology at the turn of the twenty-first century. The result is a thrilling alternative history of modern America that reframes events, trends, and people we thought we knew through the prism of the value that, for better or for worse, this nation holds dearest: capitalism.In a winning, accessible style, Bhu Srinivasan boldly takes on four centuries of American enterprise, revealing the unexpected connections that link them. We learn how Andrew Carnegie's early job as a telegraph messenger boy paved the way for his leadership of the steel empire that would make him one of the nation's richest men; how the gunmaker Remington reinvented itself in the postwar years to sell typewriters; how the inner workings of the Mafia mirrored the trend of consolidation and regulation in more traditional business; and how a 1950s infrastructure bill triggered a series of events that produced one of America's most enduring brands: KFC. Reliving the heady early days of Silicon Valley, we are reminded that the start-up is an idea as old as America itself.Entertaining, eye-opening, and sweeping in its reach, Americana is an exhilarating new work of narrative history.

An Inquiry into the Nature and Causes of the Wealth of Nations


Adam Smith - 1776
    Written in clear and incisive prose, The Wealth of Nations articulates the concepts indispensable to an understanding of contemporary society; and Robert Reich's Introduction both clarifies Smith's analyses and illuminates his overall relevance to the world in which we live. As Reich writes, "Smith's mind ranged over issues as fresh and topical today as they were in the late eighteenth century--jobs, wages, politics, government, trade, education, business, and ethics."Introduction by Robert Reich - Commentary by R. H. Campbell and A. S. Skinner - Includes a Modern Library Reading Group Guide

Our Revolution: A Future to Believe In


Bernie Sanders - 2016
    In the book, Sanders shares experiences from the campaign trail and outlines his ideas for continuing a political revolution to fight for a progressive economic, environmental, racial and social justice agenda that creates jobs, raises wages, protects the environment and provides health care for all.

Deaths of Despair and the Future of Capitalism


Anne Case - 2020
    In the past two decades, deaths of despair from suicide, drug overdose, and alcoholism have risen dramatically, and now claim hundreds of thousands of American lives each year--and they're still rising. Anne Case and Angus Deaton, known for first sounding the alarm about deaths of despair, explain the overwhelming surge in these deaths and shed light on the social and economic forces that are making life harder for the working class. They demonstrate why, for those who used to prosper in America, capitalism is no longer delivering.Deaths of Despair and the Future of Capitalism paints a troubling portrait of the American dream in decline. For the white working class, today's America has become a land of broken families and few prospects. As the college educated become healthier and wealthier, adults without a degree are literally dying from pain and despair. In this critically important book, Case and Deaton tie the crisis to the weakening position of labor, the growing power of corporations, and, above all, to a rapacious health-care sector that redistributes working-class wages into the pockets of the wealthy. Capitalism, which over two centuries lifted countless people out of poverty, is now destroying the lives of blue-collar America.This book charts a way forward, providing solutions that can rein in capitalism's excesses and make it work for everyone.

Overdressed: The Shockingly High Cost of Cheap Fashion


Elizabeth L. Cline - 2012
    She’d grown accustomed to shopping at outlet malls, discount stores like T.J. Maxx, and cheap but trendy retailers like Forever 21, Target, and H&M. She was buying a new item of clothing almost every week (the national average is sixty-four per year) but all she had to show for it was a closet and countless storage bins packed full of low-quality fads she barely wore—including the same sailor-stripe tops and fleece hoodies as a million other shoppers. When she found herself lugging home seven pairs of identical canvas flats from Kmart (a steal at $7 per pair, marked down from $15!), she realized that something was deeply wrong. Cheap fashion has fundamentally changed the way most Americans dress. Stores ranging from discounters like Target to traditional chains like JCPenney now offer the newest trends at unprecedentedly low prices. Retailers are pro­ducing clothes at enormous volumes in order to drive prices down and profits up, and they’ve turned clothing into a disposable good. After all, we have little reason to keep wearing and repairing the clothes we already own when styles change so fast and it’s cheaper to just buy more. But what are we doing with all these cheap clothes? And more important, what are they doing to us, our society, our environment, and our economic well-being? In Overdressed, Cline sets out to uncover the true nature of the cheap fashion juggernaut, tracing the rise of budget clothing chains, the death of middle-market and independent retail­ers, and the roots of our obsession with deals and steals. She travels to cheap-chic factories in China, follows the fashion industry as it chases even lower costs into Bangladesh, and looks at the impact (both here and abroad) of America’s drastic increase in imports. She even explores how cheap fashion harms the charity thrift shops and textile recyclers where our masses of cloth­ing castoffs end up. Sewing, once a life skill for American women and a pathway from poverty to the middle class for workers, is now a dead-end sweatshop job. The pressures of cheap have forced retailers to drastically reduce detail and craftsmanship, making the clothes we wear more and more uniform, basic, and low quality. Creative inde­pendent designers struggle to produce good and sustainable clothes at affordable prices. Cline shows how consumers can break the buy-and-toss cycle by supporting innovative and stylish sustainable designers and retailers, refash­ioning clothes throughout their lifetimes, and mending and even making clothes themselves. Overdressed will inspire you to vote with your dollars and find a path back to being well dressed and feeling good about what you wear.

The Death of Truth: Notes on Falsehood in the Age of Trump


Michiko Kakutani - 2018
     Over the last three decades, Michiko Kakutani has been thinking and writing about the demise of objective truth in popular culture, academia, and contemporary politics. In The Death of Truth, she connects the dots to reveal the slow march of untruth up to our present moment, when Red State and Blue State America have little common ground, proven science is once more up for debate, and all opinions are held to be equally valid. (And, more often than not, rudely declared online.) The wisdom of the crowd has diminished the power of research and expertise, and we are each left clinging to the "facts" that best confirm our biases.With wit, erudition, and remarkable insight, Kakutani offers a provocative diagnosis of our current condition and presents a path forward for our truth-challenged times.