Mohamed A. El-Erian, one of the world’s most influential economic thinkers and the author of When Markets Collide, has written a roadmap to what lies ahead and the decisions we must make now to stave off the next global economic and financial crisis.Our current economic path is coming to an end. The signposts are all around us: sluggish growth, rising inequality, stubbornly high pockets of unemployment, and jittery financial markets, to name a few. Soon we will reach a fork in the road: One path leads to renewed growth, prosperity, and financial stability, the other to recession and market disorder.In The Only Game in Town, El-Erian casts his gaze toward the future of the global economy and markets, outlining the choices we face both individually and collectively in an era of economic uncertainty and financial insecurity. Beginning with their response to the 2008 global crisis, El-Erian explains how and why our central banks became the critical policy actors—and, most important, why they cannot continue is this role alone. They saved the financial system from collapse in 2008 and a multiyear economic depression, but lack the tools to enable a return to high inclusive growth and durable financial stability. The time has come for a policy handoff, from a prolonged period of monetary policy experimentation to a strategy that better targets what ails economies and distorts the financial sector—before we stumble into another crisis. The future, critically, is not predestined. It is up to us to decide where we will go from here as households, investors, companies, and governments. Using a mix of insights from economics, finance, and behavioral science, this book gives us the tools we need to properly understand this turning point, prepare for it, and come out of it stronger. A comprehensive, controversial look at the realities of our global economy and markets, The Only Game in Town is required reading for investors, policymakers, and anyone interested in the future.Praise for The Only Game in Town“The one economic book you must read now . . . If you want to understand this bifurcated world and where it’s headed, there is no better interpreter than Mohamed El-Erian. . . . An excellent primer [and] a guide on what to expect as the world struggles to cope with slower, less equal growth.”—Time“How come the global economy is now run largely by unelected central banks? In this highly intelligent analysis, the author, a respected investor and CEO, explains how elected governments are failing in their basic job to take care of the economy and why this might lead to a massive unmanageable crisis.”—Fareed Zakaria, CNN (book of the week)“El-Erian expertly offers a balanced view, commending the central banks for their necessarily aggressive policy views while noting, for example, the failure of the Fed to recognize the pre-crisis housing bubble. . . . A grand tour of the challenges we face, along with ideal solutions and more likely outcomes.”—Steven Rattner, The New York Times Book Review“What better moment could there be for a book subtitled ‘Central Banks, Instability, and Avoiding the Next Collapse’? And who better to write it than Mohamed El-Erian . . . ?”—Financial Times“A warning on the Federal Reserve’s limits . . . For those who consider Washington politicians incapable of acting effectively, [El-Erian’s] diagnosis is chilling.”—The New York Times

    The only rock we eat, salt has shaped civilization from the very beginning, and its story is a glittering, often surprising part of the history of humankind. A substance so valuable it served as currency, salt has influenced the establishment of trade routes and cities, provoked and financed wars, secured empires, and inspired revolutions.

    From how George W. Bush got rich off a tax increase to a $100 million taxpayer gift to Warren Buffett, Johnston puts a face on all of the dirty little tricks that business and government pull. A lot of people appear to be getting free lunches—but of course there’s no such thing as a free lunch, and someone (you, the taxpayer) is picking up the bill.Johnston’s many revelations include:• How we ended up with the most expensive yet inefficient health-care system in the world.• How homeowners? title insurance became a costly, deceitful, yet almost invisible oligopoly.• How our government gives hidden subsidies for posh golf courses.• How Paris Hilton’s grandfather schemed to retake the family fortune from a charity for poor children.• How the Yankees and Mets owners will collect more than $1.3 billion in public funds.In these instances and many more, Free Lunch shows how the lobbyists and lawyers representing the most powerful 0.1 percent of Americans manipulated our government at the expense of the other 99.9 percent.With his extraordinary reporting, vivid stories, and sharp analysis, Johnston reveals the forces that shape our everyday economic lives—and shows us how we can finally make things better.

    That is until 1904, when the disease broke out in a household in Oyster Bay, Long Island. Authorities suspected the family cook, Mary Mallon, of being a carrier. But before she could be tested, the woman, soon to be known as Typhoid Mary, had disappeared. Over the course of the next three years, Mary worked at several residences, spreading her pestilence as she went. In 1907, she was traced to a home on Park Avenue, and taken into custody. Institutionalized at Riverside Hospital for three years, she was released only when she promised never to work as a cook again. She promptly disappeared.For the next five years Mary worked in homes and institutions in and around New York, often under assumed names. In February 1915, a devastating outbreak of typhoid at the Sloane Hospital for Women was traced to her. She was finally apprehended and reinstitutionalized at Riverside Hospital, where she would remain for the rest of her life.Typhoid Mary is the story of her infamous life. Anthony Bourdain reveals the seedier side of the early 1900s, and writes with his renowned panache about life in the kitchen, uncovering the horrifying conditions that allowed the deadly spread of typhoid over a decade. Typhoid Mary is a true feast for history lovers and Bourdain lovers alike.

    From Alexander Hamilton to Michael Milken, the history of Wall Street is a history of risk, courage, avarice, patriotism, power, genius, and, occasionally, remarkable stupidity. In Gordon, Wall Street has finally found a biographer worthy of its extraordinary story.

    With the same eye for drama and humor that Corson brings to the exploits of the chefs, he delves into the biology and natural history of the creatures of the sea. He illuminates sushi's beginnings as an Indo-Chinese meal akin to cheese, describes its reinvention in bustling nineteenth-century Tokyo as a cheap fast food, and tells the story of the pioneers who brought it to America. He shows how this unlikely meal is now exploding into the American heartland just as the long-term future of sushi may be unraveling.The Zen of Fish is a compelling tale of human determination as well as a delectable smorgasbord of surprising food science, intrepid reporting, and provocative cultural history.

    It was founded in a bizarre but momentous "Land Run" in 1889, when thousands of people lined up along the borders of Oklahoma Territory and rushed in at noon to stake their claims. Since then, it has been a city torn between the wild energy that drives its outsized ambitions, and the forces of order that seek sustainable progress. Nowhere was this dynamic better realized than in the drama of the Oklahoma City Thunder basketball team's 2012-13 season, when the Thunder's brilliant general manager, Sam Presti, ignited a firestorm by trading future superstar James Harden just days before the first game. Presti's all-in gamble on "the Process"—the patient, methodical management style that dictated the trade as the team’s best hope for long-term greatness—kicked off a pivotal year in the city's history, one that would include pitched battles over urban planning, a series of cataclysmic tornadoes, and the frenzied hope that an NBA championship might finally deliver the glory of which the city had always dreamed.Boom Town announces the arrival of an exciting literary voice. Sam Anderson, former book critic for New York magazine and now a staff writer at the New York Times magazine, unfolds an idiosyncratic mix of American history, sports reporting, urban studies, gonzo memoir, and much more to tell the strange but compelling story of an American city whose unique mix of geography and history make it a fascinating microcosm of the democratic experiment. Filled with characters ranging from NBA superstars Kevin Durant and Russell Westbrook; to Flaming Lips oddball frontman Wayne Coyne; to legendary Great Plains meteorologist Gary England; to Stanley Draper, Oklahoma City's would-be Robert Moses; to civil rights activist Clara Luper; to the citizens and public servants who survived the notorious 1995 bombing of the Alfred P. Murrah federal building, Boom Town offers a remarkable look at the urban tapestry woven from control and chaos, sports and civics.

    When a scholar as careful and learned as Mr. Kennedy is prompted by contemporary issues to reexamine the great processes of the past, the result can only be an enhancement of our historical understanding.... When the study is written as simply and attractively as this work is, its publication may have a great and beneficient impact. It is to be hoped that Mr. Kennedy's will have one, at a potentially decisive moment in America's history."Michael Howard, The New York Times Book Review"Important, learned, and lucid... Paul Kennedy's great achievement is that he makes us see our current international problems against a background of empires that have gone under because they were unaible to sustain the material cost of greatness; and he does so in a universal historical perspective of which Ranke would surely have approved."James Joll, The New York Review of Books"His strategic-economic approach provides him with the context for a shapely narrative....Professor Kennedy not only exploits his framework eloquently, he also makes use of it to dig deeper and explore the historical contexts in which some 'power centers' prospered....But the most commanding purpose of his project...is the lesson he draws from 15 centuries of statecraft to apply to the present scene....[The book's] final section is for everyone concerned with the contemporary political scene."Christopher Lehmann-Haupt, The New York Times"Kennedy gives epic meaning to the nation's relative economic and industrial decline." Newsweek

    Distributed by the University of Nebraska Press for Caxton PressClassic treatise on the importance of maintaining the rights of the individual in the face of expanding state control manipulated by organized pressure groups.

    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.

    Companies are shutting down and laying off workers, 401ks are melting away, and the government is spending $700 billion dollars to bail out banks and financial institutions -- and that's only the beginning. The financial services industry, and the many industries that depend on it -- from housing to cars -- is in intensive care. So what happened? How did we get to this point of financial disaster? Is the economy just a huge, Madoff-esque Ponzi scheme? It is a complicated and confusing story -- but Daniel Gross of Newsweek has a special gift for making complicated matters easy to understand and even entertaining. In Dumb Money, he offers a guide to the debacle and to what the future may hold. This is not so much a book about who did what, though that's part of the story. Rather, it pieces together the building blocks of the debt-fueled economy, and distills the theory and personalities behind our late, lamented easy money culture. Dumb Money is a book that finally lays it all out in an engaging way, and might just help people invest their money smartly until the gloom passes.

    It is hard to find a photo of Humphrey Bogart or Lauren Bacall without a cigarette. No product has been so heavily promoted or has become so deeply entrenched in American consciousness.And no product has received such sustained scientific scrutiny. The development of new medical knowledge demonstrating the dire harms of smoking ultimately shaped the evolution of evidence-based medicine. In response, the tobacco industry engineered a campaign of scientific disinformation seeking to delay, disrupt, and suppress these studies. Using a massive archive of previously secret documents, historian Allan Brandt shows how the industry pioneered these campaigns, particularly using special interest lobbying and largesse to elude regulation.But even as the cultural dominance of the cigarette has waned and consumption has fallen dramatically in the U.S., Big Tobacco remains securely positioned to expand into new global markets. The implications for the future are vast: 100 million people died of smoking-related diseases in the 20th century; in the next 100 years, we expect 1 billion deaths worldwide.

    Behind this most serene of beverages, idolized by poets and revered in spiritual practices, lie stories of treachery, violence, smuggling, drug trade, international espionage, slavery, and revolution. Liquid Jade's rich narrative history explores tea in all its social and cultural aspects. Entertaining yet informative and extensively researched, Liquid Jade tells the story of western greed and eastern bliss. China first used tea as a remedy. Taoists celebrated tea as the elixir of immortality. Buddhist Japan developed a whole body of practices around tea as a spiritual path. Then came the traumatic encounter of the refined Eastern cultures with the first Western merchants, the trade wars, the emergence of the ubiquitous English East India Company. Scottish spies crisscrossed China to steal the secrets of tea production. An army of smugglers made fortunes with tea deliveries in the dead of night. In the name of "free trade" the English imported opium to China in exchange for tea. The exploding tea industry in the eighteenth century reinforced the practice of slavery in the sugar plantations. And one of the reasons why tea became popular in the first place is that it helped sober up the English, who were virtually drowning in alcohol. During the nineteenth century, the massive consumption of tea in England also led to the development of the large tea plantation system in colonial India - a story of success for British Empire tea and of untold misery for generations of tea workers.Liquid Jade also depicts tea's beauty and delights, not only with myths about the beginnings of tea or the lovers' legend in the familiar blue-and-white porcelain willow pattern, but also with a rich and varied selection of works of art and historical photographs, which form a rare and comprehensive visual tea record. The book includes engaging and lesser-known topics, including the exclusion of women from seventeenth-century tea houses or the importance of water for tea, and answers such questions as: "What does a tea taster do?" "How much caffeine is there in tea?" "What is fair trade tea?" and "What is the difference between black, red, yellow, green, or white tea?"  Connecting past and present and spanning five thousand years, Beatrice Hohenegger's captivating and multilayered account of tea will enhance the experience of a steaming "cuppa" for tea lovers the world over.

    The book shattered journalistic and literary conventions. Critic Lionel Trilling called it the “most realistic and most important moral effort of our American generation.” The origins of Agee and Evan's famous collaboration date back to an assignment for Fortune magazine, which sent them to Alabama in the summer of 1936 to report a story that was never published. Some have assumed that Fortune's editors shelved the story because of the unconventional style that marked Let Us Now Praise Famous Men, and for years the original report was lost.But fifty years after Agee’s death, a trove of his manuscripts turned out to include a typescript labeled “Cotton Tenants.” Once examined, the pages made it clear that Agee had in fact written a masterly, 30,000-word report for Fortune.Published here for the first time, and accompanied by thirty of Walker Evans’s historic photos, Cotton Tenants is an eloquent report of three families struggling through desperate times. Indeed, Agee’s dispatch remains relevant as one of the most honest explorations of poverty in America ever attempted and as a foundational document of long-form reporting. As the novelist Adam Haslett writes in an introduction, it is “a poet’s brief for the prosecution of economic and social injustice.”Co-Published with The Baffler magazine

    We all know that the very rich have gotten a lot richer these past few decades while most Americans haven’t. In fact, the exorbitantly paid have continued to thrive during the current economic crisis, even as the rest of Americans have continued to fall behind. Why do the “haveit- alls” have so much more? And how have they managed to restructure the economy to reap the lion’s share of the gains and shift the costs of their new economic playground downward, tearing new holes in the safety net and saddling all of us with increased debt and risk? Lots of so-called experts claim to have solved this great mystery, but no one has really gotten to the bottom of it—until now. In their lively and provocative Winner-Take-All Politics, renowned political scientists Jacob S. Hacker and Paul Pierson demonstrate convincingly that the usual suspects—foreign trade and financial globalization, technological changes in the workplace, increased education at the top—are largely innocent of the charges against them. Instead, they indict an unlikely suspect and take us on an entertaining tour of the mountain of evidence against the culprit. The guilty party is American politics. Runaway inequality and the present economic crisis reflect what government has done to aid the rich and what it has not done to safeguard the interests of the middle class. The winner-take-all economy is primarily a result of winner-take-all politics. In an innovative historical departure, Hacker and Pierson trace the rise of the winner-take-all economy back to the late 1970s when, under a Democratic president and a Democratic Congress, a major transformation of American politics occurred. With big business and conservative ideologues organizing themselves to undo the regulations and progressive tax policies that had helped ensure a fair distribution of economic rewards, deregulation got under way, taxes were cut for the wealthiest, and business decisively defeated labor in Washington. And this transformation continued under Reagan and the Bushes as well as under Clinton, with both parties catering to the interests of those at the very top. Hacker and Pierson’s gripping narration of the epic battles waged during President Obama’s first two years in office reveals an unpleasant but catalyzing truth: winner-take-all politics, while under challenge, is still very much with us. Winner-Take-All Politics—part revelatory history, part political analysis, part intellectual journey— shows how a political system that traditionally has been responsive to the interests of the middle class has been hijacked by the superrich. In doing so, it not only changes how we think about American politics, but also points the way to rebuilding a democracy that serves the interests of the many rather than just those of the wealthy few.