Leverage on great companies, churning more and more profits every year

    Equally clearly, it sprang from the mind of no ordinary economist.”—James Lardner, Washington Post   The years since World War II have seen rapid shifts in the relative positions of different countries and regions. Leading political economist Mancur Olson offers a new and compelling theory to explain these shifts in fortune and then tests his theory against evidence from many periods of history and many parts of the world.   “Schumpeter and Keynes would have hailed the insights Olson gives into the sicknesses of the modern mixed economy.”—Paul A. Samuelson, Massachusetts Institute of Technology   “One of the really important books in social science of the past half-century.”—Scott Gordon, Canadian Journal of Economics   “The thesis of this brilliant book is that the longer a society enjoys political stability, the more likely it is to develop powerful special-interest lobbies that in turn make it less efficient economically.”—Charles Peters, Washington Monthly   “Remarkable. The fundamental ideas are simple, yet they provide insight into a wide array of social and historical issues. . . . The Rise and Decline of Nations promises to be a subject of productive interdisciplinary argument for years to come.”—Robert O. Keohane, Journal of Economic Literature   “I urgently recommend it to all economists and to a great many non-economists.”—Gordon Tullock, Public Choice   “Olson’s theory is illuminating and there is no doubt that The Rise and Decline of Nations will exert much influence on ideas and politics for many decades to come.”—Pierre Lemieux, Reason   Co-winner of the 1983 American Political Science Association’s Gladys M. Kammerer Award for the best book on U.S. national policy

    Forget the 1%; it's the wealthiest .01% who are fast outpacing the rest of us. Today's colossal fortunes are amassed by the diligent toiling of smart, perceptive businessmen who see themselves as deserving victors in a cutthroat international competition.  Cracking open this tight-knit world is Chrystia Freeland, an acclaimed business journalist. At ease in Davos or Dubai, Freeland has reported on the lives and minds of these new super-elites for nearly a decade. Grounding her interviews in the economics and history of modern capitalism, she provides examples of the new wealth and its consequences. She showcases the $3 million birthday party of a New York financier months before the financial meltdown; details the closed-door 2005 SEC meeting where the US government allowed investment banks to write their own regulatory laws; and tells how the Bank of Canada's Mark Carney became a key figure in the central battle between the plutocracy and the rest of us.  Brightly written and powerfully researched, Freeland's Plutocrats will be a lightning rod event in the midst of the US election season.

    His paper led to a revolution in thinking—to a new worldview. Eco-Economy discusses the need today for a similar shift in our worldview. The issue now is whether the environment is part of the economy or the economy is part of the environment. Lester R. Brown argues the latter, pointing out that treating the environment as part of the economy has produced an economy that is destroying its natural support systems. Brown notes that if China were to have a car in every garage, American style, it would need 80 million barrels of oil a day—more than the world currently produces. If paper consumption per person in China were to reach the U.S. level, China would need more paper than the world produces. There go the world's forests. If the fossil fuel-based, automobile-centered, throwaway economic model will not work for China, it will not work for the other 3 billion people in the developing world—and it will not work for the rest of the world. But Brown is optimistic as he describes how to restructure the global economy to make it compatible with the Earth's ecosystem so that economic progress can continue. In the new economy, wind farms replace coal mines, hydrogen-powered fuel cells replace internal combustion engines, and cities are designed for people, not cars. Glimpses of the new economy can be seen in the wind farms of Denmark, the solar rooftops of Japan, and the bicycle network of the Netherlands. Eco-Economy is a road map of how to get from here to there.

    Analyzing four European nations and Japan at some length and four Third World nations more briefly, this text studies the history, institutions, geography, and political culture of each to provide valuable comparative information in the course of the semester. - Updated and revised - Enables students to stay abreast of the latest events in the global-political environment. - Expanded political-geography material - Provides students with geographical insight that prepares them for globalization. Aids students preparing for the state teacher certification exams. - Insights - Includes some rational-choice perspectives, more geography, and Russia as a quasi-authoritarian system. - Improved Pedagogy includes highlighted boxes, glossary, maps and chapter-opening questions. - Nine countries represented - Extensive coverage of Great Britain, France, Germany, Russia, and Japan; more brief coverage of four Third World

    Herman and Noam Chomsky show that, contrary to the usual image of the news media as cantankerous, obstinate, and ubiquitous in their search for truth and defense of justice, in their actual practice they defend the economic, social, and political agendas of the privileged groups that dominate domestic society, the state, and the global order.Based on a series of case studies—including the media’s dichotomous treatment of “worthy” versus “unworthy” victims, “legitimizing” and “meaningless” Third World elections, and devastating critiques of media coverage of the U.S. wars against Indochina—Herman and Chomsky draw on decades of criticism and research to propose a Propaganda Model to explain the media’s behavior and performance. Their new introduction updates the Propaganda Model and the earlier case studies, and it discusses several other applications. These include the manner in which the media covered the passage of the North American Free Trade Agreement and subsequent Mexican financial meltdown of 1994-1995, the media’s handling of the protests against the World Trade Organization, World Bank, and International Monetary Fund in 1999 and 2000, and the media’s treatment of the chemical industry and its regulation. What emerges from this work is a powerful assessment of how propagandistic the U.S. mass media are, how they systematically fail to live up to their self-image as providers of the kind of information that people need to make sense of the world, and how we can understand their function in a radically new way.

    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.

    Any ambitious proposal, however, inevitably runs into the buzz saw of how to find the money to pay for it, rooted in myths about deficits that are hobbling us as a country.Kelton busts through the myths that prevent us from taking action: that the federal government should budget like a household, that deficits will harm the next generation, crowd out private investment, and undermine long-term growth, and that entitlements are propelling us toward a grave fiscal crisis.MMT, as Kelton shows, shifts the terrain from narrow budgetary questions to one of broader economic and social benefits. With its important new ways of understanding money, taxes, and the critical role of deficit spending, MMT redefines how to responsibly use our resources so that we can maximize our potential as a society. MMT gives us the power to imagine a new politics and a new economy and move from a narrative of scarcity to one of opportunity.

    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.

    Hacker and Paul Pierson explained how political elites have enabled and propelled plutocracy. They trace the economic and political history of the United States over the last century and show how a viable mixed economy has long been the dominant engine of America’s prosperity.Like every other prospering democracy, the United States developed a mixed economy that channeled the spirit of capitalism into strong growth and healthy social development. In this bargain, government and business were as much partners as rivals. Public investments in education, science, transportation, and technology laid the foundation for broadly based prosperity. Programs of economic security and progressive taxation provided a floor of protection and business focused on the pursuit of profit—and government addressed needs business could not.The mixed economy was the most important social innovation of the twentieth century. It spread a previously unimaginable level of broad prosperity. It enabled steep increases in education, health, longevity, and economic security. And yet, extraordinarily, it is anathema to many current economic and political elites. And as the advocates of anti-government free market fundamentalist have gained power, they are hell-bent on scrapping the instrument of nearly a century of unprecedented economic and social progress. In American Amnesia, Hacker and Pierson explain how—and why they must be stopped.

    The world is unlikely to be treated to a better account of the economics of the pandemic' The Times'A seriously impressive book, both endlessly quotable and rigorously analytical' Oliver Bullough, The GuardianFrom the author of Crashed comes a gripping short history of how Covid-19 ravaged the global economy, and where it leaves us nowWhen the news first began to trickle out of China about a new virus in December 2019, risk-averse financial markets were alert to its potential for disruption. Yet they could never have predicted the total economic collapse that would follow in COVID-19's wake, as stock markets fell faster and harder than at any time since 1929, currencies across the world plunged, investors panicked, and even gold was sold. In a matter of weeks, the world's economy was brought to an abrupt halt by governments trying to contain a spiralling public health catastrophe. Flights were grounded; supply chains broken; industries from tourism to oil to hospitality collapsed overnight, leaving hundreds of millions of people unemployed. Central banks responded with unprecedented interventions, just to keep their economies on life-support. For the first time since the second world war, the entire global economic system contracted. This book tells the story of that shutdown. We do not yet know how this story ends, or what new world we will find on the other side. In this fast-paced, compelling and at times shocking analysis, Adam Tooze surveys the wreckage, and looks at where we might be headed next.

    Never before have so many people, in so many developing countries, made so much progress. Most people believe the opposite: that with a few exceptions like China and India, the majority of developing countries are hopelessly mired in deep poverty, led by inept dictators, and living with pervasive famine, widespread disease, constant violence, and little hope for change. But a major transformation is underway—and has been for two decades now. Since the early 1990s more than 700 million people have been lifted out of extreme poverty, six million fewer children die every year from disease, tens of millions more girls are in school, millions more people have access to clean water, and democracy—often fragile and imperfect—has become the norm in developing countries around the world. The Great Surge tells the remarkable story of this unprecedented economic, social, and political transformation. It shows how the end of the Cold War, the development of new technologies, globalization, courageous local leadership, and in some cases, good fortune, have combined to dramatically improve the fate of hundreds of millions of people in poor countries around the world. Most importantly, The Great Surge reveals how we can fight the changing tides of climate change, resource demand, economic and political mismanagement, and demographic pressures to accelerate the political, economic, and social development that has been helping the poorest of the poor around the world.

    Beginning in the Great Depression and through to the 1970s, he argues, the United States built a uniquely equitable period that contrasts with the deeper historical patterns of American political practice, economic structure, and cultural outlook.During those exceptional decades, which Cowie situates in the long arc of American history, the government used its considerable resources on behalf of working Americans in ways that it had not before and has not since. The crises of the Depression and World War II forced realignments of American politics and class relations, but these changes were less a permanent triumph of the welfare state than the product of a temporary cessation of enduring tensions involving race, immigration, culture, class, and individualism. Against this backdrop, Cowie shows how any renewed American battle for collective economic rights needs to build on an understanding of how the New Deal was won--and how it ultimately succumbed to contrasting patterns ingrained in U.S. history. As positive as the era of Roosevelt was in creating a more equitable society, Cowie suggests that the New Deal may necessarily belong more to the past than the future of American politics.Anyone who wants to come to terms with the politics of inequality in U.S. history will need to read "The Great Exception."

    This struggle has shaken the world economy, dictated the outcome of wars, and transformed the destiny of men and nations.The Prize is as much a history of the twentieth century as of the oil industry itself. The canvas of history is enormous -- from the drilling of the first well in Pennsylvania through two great world wars to the Iraqi invasion of Kuwait and Operation Desert Storm.

    But we should.In The World for Sale, two leading journalists lift the lid on one of the least scrutinised corners of the economy: the workings of the billionaire commodity traders who buy, hoard and sell the earth's resources.It is the story of how a handful of swashbuckling businessmen became indispensable cogs in global markets: enabling an enormous expansion in international trade, and connecting resource-rich countries - no matter how corrupt or war-torn - with the world's financial centres.And it is the story of how some traders acquired untold political power, right under the noses of Western regulators and politicians - helping Saddam Hussein to sell his oil, fuelling the Libyan rebel army during the Arab Spring, and funnelling cash to Vladimir Putin's Kremlin in spite of strict sanctions.The result is an eye-opening tour through the wildest frontiers of the global economy, as well as a revelatory guide to how capitalism really works.__________________________'This jaw-dropping study shows how much money and global influence is concentrated in the hands of a tiny group . . . A remarkable book . . . As the authors roam from oilfield to wheatfield, they reveal information so staggering you almost gasp.' SUNDAY TIMES 'Rollicking yarns from the biggest ever commodity boom . . . The high level narrative is gripping enough. But it is the details of what these freewheeling companies actually got up to that give the book a thriller-like quality . . . Educational and entertaining.' FINANCIAL TIMES 'A fascinating and revealing story . . . There are tales in the book of breathtaking trades, such as shipments of rebel oil from war-torn Libya or deals bartered amid the brutal "aluminium wars" in the Russia of the 1990s.' ECONOMIST 'A globe-spanning corporate thriller, full of intrigue and double dealing . . . Changes how we see the world, often in horrifying ways . . . New insights and reporting mean that even seasoned observers will be amazed.' SPECTATOR 'Javier Blas and Jack Farchy should be awaiting the call from Hollywood. The World for Sale contains at least half a dozen narrative threads that would form the basis of a good thriller. But the authors' main achievement is to subject the biggest commodity players, and their impact on the real world, to proper critical scrutiny.' REUTERS 'Blas and Farchy shine light on what's long been the financial markets' darkest corner - the crucial, yet underappreciated, role commodity traders play in global finance and geopolitics . . . The World For Sale is a fascinating, eye-opening read.' GREGORY ZUCKERMAN, author of The Man Who Solved the Market'The definitive, eye-opening story of the most powerful and secretive traders in the world.' BRADLEY HOPE, co-author of Billion Dollar Whale'If you have the slightest interest in how the modern world was made, by whom, at what price, and at what profit, this is the book for you . . . Superbly researched.' FOREIGN POLICY 'Javier Blas and Jack Farchy deftly peel back the curtain on the amoral swashbucklers of capitalism who trade in commodities . . . The World for Sale is a gripping account of how they achieved their stranglehold over the world economy, and their troubling influence on global politics.' BRAD STONE, author of The Everything Store'Some of the stories could be straight out of John Le Carré. The difference is they're true . . . Fascinating.' ANDREW NEIL