This one is really my book, the others appear to me colourless and seem as if they could have been written by anyone else.' - Georg Simmel to Heinrich Rickert (1904) In The Philosophy of Money, Simmel provides us with a remarkably wide-ranging discussion of the social, psychological and philosophical aspects of the money economy, full of brilliant insights into the forms that social relationships take. He analyzes the relationships of money to exchange, the human personality, the position of women, individual freedom and many other areas of human existence. Later he provides us with an account of the consequences of the modern money economy and the division of labour, which examines the processes of alienation and reification in work, urban life and elsewhere. Perhaps, more than any of his other sociological works, The Philosophy of Money gives us an example of his comprehensive analysis of the interrelationships between the most diverse and seemingly connected social phenomena. This revised edition of the translation by Tom Bottomore and David Frisby, includes a new Preface by Davi

    Schwartz comes a gripping investigation of how a virtual velvet rope divides Americans in every arena of life, creating a friction-free existence for those with money on one side and a Darwinian struggle for the middle class on the other side.In nearly every realm of daily life--from health care to education, highways to home security--there is an invisible velvet rope that divides how Americans live. On one side of the rope, for a price, red tape is cut, lines are jumped, appointments are secured, and doors are opened. On the other side, middle- and working-class Americans fight to find an empty seat on the plane, a place in line with their kids at the amusement park, a college acceptance, or a hospital bed. We are all aware of the gap between the rich and everyone else, but when we weren't looking, business innovators stepped in to exploit it, shifting services away from the masses and finding new ways to profit by serving the privileged. And as decision-makers and corporate leaders increasingly live on the friction-free side of the velvet rope, they are less inclined to change--or even notice--the obstacles everyone else must contend with. Schwartz's "must read" book takes us on a behind-the-scenes tour of this new reality and shows the toll the velvet rope divide takes on society.

    In this explosive book, Bryan Caplan argues that the primary function of education is not to enhance students' skill but to certify their intelligence, work ethic, and conformity—in other words, to signal the qualities of a good employee. Learn why students hunt for easy As and casually forget most of what they learn after the final exam, why decades of growing access to education have not resulted in better jobs for the average worker but instead in runaway credential inflation, how employers reward workers for costly schooling they rarely if ever use, and why cutting education spending is the best remedy.Caplan draws on the latest social science to show how the labor market values grades over knowledge, and why the more education your rivals have, the more you need to impress employers. He explains why graduation is our society's top conformity signal, and why even the most useless degrees can certify employability. He advocates two major policy responses. The first is educational austerity. Government needs to sharply cut education funding to curb this wasteful rat race. The second is more vocational education, because practical skills are more socially valuable than teaching students how to outshine their peers.Romantic notions about education being "good for the soul" must yield to careful research and common sense — The Case against Education points the way.

    But by the year 1900, a new type of lawyer was born, one who understood business as well as the law. Working hand in glove with their clients, over the next two decades these New York City "white shoe" lawyers devised and implemented legal strategies that would drive the business world throughout the twentieth century. These lawyers were architects of the monopolistic new corporations so despised by many, and acted as guardians who helped the kings of industry fend off government overreaching. Yet they also quietly steered their robber baron clients away from a "public be damned" attitude toward more enlightened corporate behavior during a period of progressive, turbulent change in America.Author John Oller, himself a former Wall Street lawyer, gives us a richly-written glimpse of turn-of-the-century New York, from the grandeur of private mansions and elegant hotels and the city's early skyscrapers and transportation systems, to the depths of its deplorable tenement housing conditions. Some of the biggest names of the era are featured, including business titans J. P. Morgan and John D. Rockefeller, lawyer-statesmen Elihu Root and Charles Evans Hughes, and presidents Theodore Roosevelt, William Howard Taft, and Woodrow Wilson.Among the colorful, high-powered lawyers vividly portrayed, White Shoe focuses on three: Paul Cravath, who guided his client George Westinghouse in his war against Thomas Edison and launched a new model of law firm management--the "Cravath system"; Frank Stetson, the "attorney general" for financier J. P. Morgan who fiercely defended against government lawsuits to break up Morgan's business empires; and William Nelson Cromwell, the lawyer "who taught the robber barons how to rob," and was best known for his instrumental role in creating the Panama Canal.In White Shoe, the story of this small but influential band of Wall Street lawyers who created Big Business is fully told for the first time.

    Lester Award for the Outstanding Book in Industrial Relations and Labor Economics, Princeton UniversityAn Economist Best Economics and Business Book of the YearA Financial Times Best Economics Book of the YearInequality is one of our most urgent social problems. Curbed in the decades after World War II, it has recently returned with a vengeance. We all know the scale of the problem--talk about the 99% and the 1% is entrenched in public debate--but there has been little discussion of what we can do but despair. According to the distinguished economist Anthony Atkinson, however, we can do much more than skeptics imagine."[Atkinson] sets forth a list of concrete, innovative, and persuasive proposals meant to show that alternatives still exist, that the battle for social progress and equality must reclaim its legitimacy, here and now... Witty, elegant, profound, this book should be read."--Thomas Piketty, New York Review of Books"An uncomfortable affront to our reigning triumphalists. [Atkinson's] premise is straightforward: inequality is not unavoidable, a fact of life like the weather, but the product of conscious human behavior.--Owen Jones, The Guardian

    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.

    In 1923, with its currency effectively worthless (the exchange rate in December of that year was one dollar to 4,200,000,000,000 marks), the German republic was all but reduced to a barter economy. Expensive cigars, artworks, and jewels were routinely exchanged for staples such as bread; a cinema ticket could be bought for a lump of coal; and a bottle of paraffin for a silk shirt. People watched helplessly as their life savings disappeared and their loved ones starved. Germany’s finances descended into chaos, with severe social unrest in its wake. Money may no longer be physically printed and distributed in the voluminous quantities of 1923. However, “quantitative easing,” that modern euphemism for surreptitious deficit financing in an electronic era, can no less become an assault on monetary discipline. Whatever the reason for a country’s deficit necessity or profligacy, unwillingness to tax or blindness to expenditure it is beguiling to suppose that if the day of reckoning is postponed economic recovery will come in time to prevent higher unemployment or deeper recession. What if it does not? Germany in 1923 provides a vivid, compelling, sobering moral tale.

    Has this assistance improved the lives of Africans? No. In fact, across the continent, the recipients of this aid are not better off as a result of it, but worse—much worse.In Dead Aid, Dambisa Moyo describes the state of postwar development policy in Africa today and unflinchingly confronts one of the greatest myths of our time: that billions of dollars in aid sent from wealthy countries to developing African nations has helped to reduce poverty and increase growth. In fact, poverty levels continue to escalate and growth rates have steadily declined—and millions continue to suffer. Provocatively drawing a sharp contrast between African countries that have rejected the aid route and prospered and others that have become aid-dependent and seen poverty increase, Moyo illuminates the way in which overreliance on aid has trapped developing nations in a vicious circle of aid dependency, corruption, market distortion, and further poverty, leaving them with nothing but the “need” for more aid. Debunking the current model of international aid promoted by both Hollywood celebrities and policy makers, Moyo offers a bold new road map for financing development of the world’s poorest countries that guarantees economic growth and a significant decline in poverty—without reliance on foreign aid or aid-related assistance.Dead Aid is an unsettling yet optimistic work, a powerful challenge to the assumptions and arguments that support a profoundly misguided development policy in Africa. And it is a clarion call to a new, more hopeful vision of how to address the desperate poverty that plagues millions.

    From this bold premise, John Micklethwait and Adrian Wooldridge chart the rise of one of history’s great catalysts for good and evil. In a “fast-paced and well-written” work (Forbes), the authors reveal how innovations such as limitations on liability have permitted companies to rival religions and even states in importance, governing the flow of wealth and controlling human affairs–all while being largely exempt from the rules that govern our lives.The Company is that rare, remarkable book that fills a major gap we scarcely knew existed. With it, we are better able to make sense of the past four centuries, as well as the events of today.

    The common thread for oligarchs across history is that wealth defines them, empowers them, and inherently exposes them to threats. The existential motive of all oligarchs is wealth defense. How they respond varies with the threats they confront, including how directly involved they are in supplying the coercion underlying all property claims, and whether they act separately or collectively. These variations yield four types of oligarchy: warring, ruling, sultanistic, and civil. Oligarchy is not displaced by democracy but rather is fused with it. Moreover, the rule of law problem in many societies is a matter of taming oligarchs. Cases studied in this book include the United States, ancient Athens and Rome, Indonesia, the Philippines, Singapore, medieval Venice and Siena, mafia commissions in the United States and Italy, feuding Appalachian families, and early chiefs cum oligarchs dating from 2300 BCE.

    Liberals believe they are happier than conservatives, and conservatives disagree. In fact, almost every group thinks it is happier than everyone else. In this provocative new book, Arthur C. Brooks explodes the myths about happiness in America. As he did in the controversial Who Really Cares: The Surprising Truth About Compassionate Conservatism, Brooks examines vast amounts of evidence and empirical research to uncover the truth about who is happy in America, who is not, and-most important-why. He finds that there is a real “happiness gap” in America today, and it lies disconcertingly close to America’s cultural and political fault lines. The great divide between the happy and the unhappy in America, Brooks shows, is largely due to differences in social and cultural values. The values that bring happiness are faith, charity, hard work, optimism, and individual liberty. Secularism, excessive reliance on the state to solve problems, and an addiction to security all promote unhappiness. What can be done to maximize America’s happiness? Replete with the unconventional wisdom for which Brooks has come to be known, Gross National Happiness offers surprising and illuminating conclusions about how our government can best facilitate Americans in their pursuit of happiness.

    As Carl Benedikt Frey shows, the Industrial Revolution created unprecedented wealth and prosperity over the long run, but the immediate consequences of mechanization were devastating for large swaths of the population. Middle-income jobs withered, wages stagnated, the labor share of income fell, profits surged, and economic inequality skyrocketed. These trends, Frey documents, broadly mirror those in our current age of automation, which began with the Computer Revolution.Just as the Industrial Revolution eventually brought about extraordinary benefits for society, artificial intelligence systems have the potential to do the same. But Frey argues that this depends on how the short term is managed. In the nineteenth century, workers violently expressed their concerns over machines taking their jobs. The Luddite uprisings joined a long wave of machinery riots that swept across Europe and China. Today’s despairing middle class has not resorted to physical force, but their frustration has led to rising populism and the increasing fragmentation of society. As middle-class jobs continue to come under pressure, there’s no assurance that positive attitudes to technology will persist.The Industrial Revolution was a defining moment in history, but few grasped its enormous consequences at the time. The Technology Trap demonstrates that in the midst of another technological revolution, the lessons of the past can help us to more effectively face the present.

    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.

    Ultimately, it is the perceived health of the economy which determines how much we can spend on our schools, highways, and defense; economists decide how much unemployment is acceptable and whether it is right to print money or bail out profligate banks.  The backlash we are currently witnessing suggests that people are turning against the experts and their faulty understanding of our lives. Despite decades of steady economic growth, many citizens feel more pessimistic than ever, and are voting for candidates who voice undisguised contempt for the technocratic elite. For too long, economics has relied on a language which fails to resonate with people's actual experience, and we are now living with the consequences. In this powerful, incisive book, David Pilling reveals the hidden biases of economic orthodoxy and explores the alternatives to GDP, from measures of wealth, equality, and sustainability to measures of subjective wellbeing. Authoritative, provocative, and eye-opening, The Growth Delusion offers witty and unexpected insights into how our society can respond to the needs of real people instead of pursuing growth at any cost.

    Food availability, income, and life span are up; disease, child mortality, and violence are down — all across the globe. Though the world is far from perfect, necessities and luxuries alike are getting cheaper; population growth is slowing; Africa is following Asia out of poverty; the Internet, the mobile phone, and container shipping are enriching people’s lives as never before. The pessimists who dominate public discourse insist that we will soon reach a turning point and things will start to get worse. But they have been saying this for two hundred years.Yet Matt Ridley does more than describe how things are getting better. He explains why. Prosperity comes from everybody working for everybody else. The habit of exchange and specialization—which started more than 100,000 years ago—has created a collective brain that sets human living standards on a rising trend. The mutual dependence, trust, and sharing that result are causes for hope, not despair.This bold book covers the entire sweep of human history, from the Stone Age to the Internet, from the stagnation of the Ming empire to the invention of the steam engine, from the population explosion to the likely consequences of climate change. It ends with a confident assertion that thanks to the ceaseless capacity of the human race for innovative change, and despite inevitable disasters along the way, the twenty-first century will see both human prosperity and natural biodiversity enhanced. Acute, refreshing, and revelatory, The Rational Optimist will change your way of thinking about the world for the better.