. . European nations at risk of defaulting on their loans . . . A possible global financial crisis. It happened before, in the 1970s . Oil Kings is the story of how oil came to dominate U.S. domestic and international affairs. As Richard Nixon fought off Watergate inquiries in 1973, the U.S. economy reacted to an oil shortage initiated by Arab nations in retaliation for American support of Israel in the Arab- Israeli war. The price of oil skyrocketed, causing serious inflation. One man the U.S. could rely on in the Middle East was the Shah of Iran, a loyal ally whose grand ambitions had made him a leading customer for American weapons. Iran sold the U.S. oil; the U.S. sold Iran missiles and fighter jets. But the Shah’s economy depended almost entirely on oil, and the U.S. economy could not tolerate annual double-digit increases in the price of this essential commodity. European economies were hit even harder by the soaring oil prices, and several NATO allies were at risk of default on their debt. In 1976, with the U.S. economy in peril, President Gerald Ford, locked in a tight election race, decided he had to find a country that would sell oil to the U.S. more cheaply and break the OPEC monopoly, which the Shah refused to do. On the advice of Treasury Secretary William Simon and against the advice of Secretary of State Henry Kissinger, Ford made a deal to sell advanced weaponry to the Saudis in exchange for a modest price hike on oil. Ford lost the election, but the deal had lasting consequences. The Shah’s economy was destabilized, and disaffected elements in Iran mobilized to overthrow him. The U.S. had embarked on a long relationship with the autocratic Saudi kingdom that continues to this day. Andrew Scott Cooper draws on newly declassified documents and interviews with some key figures of the time to show how Nixon, Ford, Kissinger, the CIA, and the State and Treasury departments—as well as the Shah and the Saudi royal family— maneuvered to control events in the Middle East. He details the secret U.S.-Saudi plan to circumvent OPEC that destabilized the Shah. He reveals how close the U.S. came to sending troops into the Persian Gulf to break the Arab oil embargo. The Oil Kings provides solid evidence that U.S. officials ignored warning signs of a potential hostage crisis in Iran. It discloses that U.S. officials offered to sell nuclear power and nuclear fuel to the Shah. And it shows how the Ford Administration barely averted a European debt crisis that could have triggered a financial catastrophe in the U.S. Brilliantly reported and filled with astonishing details about some of the key figures of the time, The Oil Kings is the history of an era that we thought we knew, an era whose momentous reverberations still influence events at home and abroad today.

    It is how China and India began to embrace neoliberal ideas of economics and attributed a sense of dignity and liberty to the bourgeoisie they had denied for so long. The result was an explosion in economic growth and proof that economic change depends less on foreign trade, investment, or material causes, and a whole lot more on ideas and what people believe.Or so says Deirdre N. McCloskey in Bourgeois Dignity, a fiercely contrarian history that wages a similar argument about economics in the West. Here she turns her attention to seventeenth- and eighteenth-century Europe to reconsider the birth of the industrial revolution and the rise of capitalism. According to McCloskey, our modern world was not the product of new markets and innovations, but rather the result of shifting opinions about them. During this time, talk of private property, commerce, and even the bourgeoisie itself radically altered, becoming far more approving and flying in the face of prejudices several millennia old. The wealth of nations, then, didn’t grow so dramatically because of economic factors: it grew because rhetoric about markets and free enterprise finally became enthusiastic and encouraging of their inherent dignity.An utterly fascinating sequel to her critically acclaimed book The Bourgeois Virtues, Bourgeois Dignity is a feast of intellectual riches from one of our most spirited and ambitious historians—a work that will forever change our understanding of how the power of persuasion shapes our economic lives.

    involvement in endless wars, driven by a deep infatuation with military power, has been a catastrophe for the body politic. These pressing problems threaten all of us, Republicans and Democrats. If the nation is to solve its predicament, it will need the revival of a distinctly American approach: the neglected tradition of realism.Andrew J. Bacevich, uniquely respected across the political spectrum, offers a historical perspective on the illusions that have governed American policy since 1945. The realism he proposes includes respect for power and its limits; sensitivity to unintended consequences; aversion to claims of exceptionalism; skepticism of easy solutions, especially those involving force; and a conviction that the books will have to balance. Only a return to such principles, Bacevich argues, can provide common ground for fixing America’s urgent problems before the damage becomes irreparable.

    The discoveries made, however, are so far-reaching that a large portion of economics literature will have to be modified to accommodate another half to the macro economic spectrum of possibilities that conventional theorists have overlooked. In particular, Japan's Great Recession showed that when faced with a massive fall in asset prices, companies typically jettison the conventional goal of profit maximization and move to minimize debt in order to restore their credit ratings. This shift in corporate priority, however, has huge theoretical as well as practical implications and opens up a whole new field of study. For example, the new insight can explain fully the precise mechanism of prolonged depression and liquidity trap which conventional economics - based on corporate profit maximization - has so far failed to offer as a convincing explanation. The author developed the idea of yin and yang business cycles where the conventional world of profit maximization is the yang and the world of balance sheet recession, where companies are minimizing debt, is the yin. Once so divided, many varied theories developed in macro economics since the 1930s can be nicely categorized into a single comprehensive theory, i.e., the Holy Grail of macro economics The policy implication of this new discovery is immense in that the conventional aversion to fiscal policy in favor of monetary policy will have to be completely reversed when the economy is in the yin phase. The theoretical implications are also immense in the sense that the economics profession will no longer have to rely so much on various rigidities to explain recessions that have become the standard practice within the so-called New Keynesian economics of the last twenty years.

    Finding an outside enemy against which everyone could unite washis best option. Coincidentally, India was emerging as the leader of the newly independent countries in Asia and Africa and the stakes were high for a war with India: winning the war could mean China would 'dethrone' India and take over. A border dispute with India and India's decision to grantasylum to the Dalal Lama after a failed uprising against Chinese rule in Tibet in 1959 gave China legitimate reasons to go to war.This book unveils how China has started planning the war as early as in 1959, much before Jawaharlal Nehru launched the 'forward policy' in the border areas. And how the war accomplished much for China: India lost, China became the main voice of revolutionary movements in the Third World, and MaoZedong was back in power.

    The finger-on-the-button tension that had defined a generation was over, and it seemed that peace was at hand. The next twelve years rolled by in a haze of self-congratulation— what some now call a "holiday from history. "When that complacency shattered on September 11, 2001, setting the U.S. on a new and contentious path, confused Americans asked themselves: How did we get here?In America Between The Wars, Derek Chollet and James Goldgeier examine how the decisions and debates of the years between the fall of the Wall on 11/9 and the collapse of the Twin Towers on 9/11 shaped the events, arguments, and politics of the world we live in today. Reflecting the authors' deep expertise and broad access to key players across the political spectrum, this book tells the story of a generation of leaders grappling with a moment of dramatic transformation—changing how we should think about the recent past, and uncovering important lessons for the future.

    Peter Singer discusses climate change, the role of the World Trade Organization, human rights and humanitarian intervention, and foreign aid, showing how a global ethic rather than a nationalistic approach can provide illuminating answers to important problems.The book encompasses four main global issues: climate change, the role of the World Trade Organization, human rights and humanitarian intervention, and foreign aid. Singer addresses each vital issue from an ethical perspective and offers alternatives to the state-centric approach that characterizes international theory and relations today. Posing a bold challenge to narrow or nationalistic views, Singer presents a realistic, new way of looking at contemporary global issues—through a prism of ethics.

    Written not from a post-crisis perspective – but from a preventative point of view – this book traces the development of financial derivatives from bonds to credit default swaps, and shows how mathematical formulas went beyond pricing to expand their use to the point where they dwarfed the real economy. You'll learn how the deadly allure of their ice-cold beauty has misled generations of economists and investors, and how continued reliance on these formulas can either assist future economic development, or send the global economy into the financial equivalent of a cardiac arrest. Rather than rehash tales of post-crisis fallout, this book focuses on preventing the next one. By exploring the heart of the shadow economy, you'll be better prepared to ride the rough waves of finance into the turbulent future. Delve into one of the world's least-understood but highest-impact industries Understand the key principles of quantitative finance and the evolution of the field Learn what quantitative finance has become, and how it affects us all Discover how the industry's next steps dictate the economy's future How do you create a quadrillion dollars out of nothing, blow it away and leave a hole so large that even years of "quantitative easing" can't fill it – and then go back to doing the same thing? Even amidst global recovery, the financial system still has the potential to seize up at any moment. The Money Formula explores the how and why of financial disaster, what must happen to prevent the next one.

    'Poisoned Wells' exposes the root causes of this paradox of poverty from plenty.

    The author analyzes both historical and contemporary trends, as well as the major theories used to explain the dynamics underlying international relations--helping you to think critically about these topics by presenting rival views. From global development, the practice of terrorism, and the war in Iraq to peacekeeping operations and the transformations evident since 9/11, this thought-provoking textbook briefs you on the most recent indicators of global trends. An extensive map, figure, and photo program helps you visualize the significance of statistical data and the implications of global rivalries.

    The leader of the Burkina Faso revolution recounts how peasants and workers in this West African country began confronting hunger, illiteracy, and economic backwardness prior to the 1987 coup in which Sankara was murdered.

    But above all, she aims to remind us that we hold the essence of power and the foundation of genuine democracy—the power of the people to counter their self-appointed leaders’ tyranny.First delivered as fiery speeches to sold-out crowds, together these essays are a call to arms against “the apocalyptic apparatus of the American empire.” Focusing on the disastrous US occupation of Iraq, Roy urges us to recognize—and apply—the scope of our power, exhorting US dockworkers to refuse to load materials war-bound, reservists to reject their call-ups, activists to organize boycotts of Halliburton, and citizens of other nations to collectively resist being deputized as janitor-soldiers to clear away the detritus of the US invasion.Roy’s Guide to Empire also offers us sharp theoretical tools for understanding the New American Empire—a dangerous paradigm, Roy argues here, that is entirely distinct from the imperialism of the British or even the New World Order of George Bush, the elder. She examines how resistance movements build power, using examples of nonviolent organizing in South Africa, India, and the United States. Deftly drawing the thread through ostensibly disconnected issues and arenas, Roy pays particular attention to the parallels between globalization in India, the devastation in Iraq, and the deplorable conditions many African Americans, in particular, must still confront.With Roy as our “guide,” we may not be able to relax from the Sisyphean task of stopping the U.S. juggernaut, but at least we are assured that the struggle for global justice is fortified by Roy’s hard-edged brilliance.

    This book shows how the collective purposes and meanings that had framed social debate became unhinged and uncertain. It offers a reinterpretation of the ways in which the decades surrounding the 1980s changed America.

    Narrowing the thousands of factors that can shape a country’s fortunes to ten clear rules, Sharma explains how to spot political, economic, and social changes in real time. He shows how to read political headlines, black markets, the price of onions, and billionaire rankings as signals of booms, busts, and protests. Set in a post-crisis age that has turned the world upside down, replacing fast growth with slow growth and political calm with revolt, Sharma’s pioneering book is an entertaining field guide to understanding change in this era or any era.A Library Journal Best Book of 2016

    Beginning with Jefferson's expedition against the Barbary Pirates, Max Boot tells the exciting stories of our sometimes minor but often bloody landings in Samoa, the Philippines, China, Haiti, the Dominican Republic, Nicaragua, Mexico, Russia, and elsewhere. Along the way he sketches colorful portraits of little-known military heroes such as Stephen Decatur, "Fighting Fred" Funston, and Smedley Butler. From 1800 to the present day, such undeclared wars have made up the vast majority of our military engagements. Yet the military has often resisted preparing itself for small wars, preferring instead to train for big conflicts that seldom come. Boot re-examines the tragedy of Vietnam through a "small war" prism. He concludes with a devastating critique of the Powell Doctrine and a convincing argument that the armed forces must reorient themselves to better handle small-war missions, because such clashes are an inevitable result of America's far-flung imperial responsibilities.