Characterized by a range of new technologies that are fusing the physical, digital and biological worlds, the developments are affecting all disciplines, economies, industries and governments, and even challenging ideas about what it means to be human.Artificial intelligence is already all around us, from supercomputers, drones and virtual assistants to 3D printing, DNA sequencing, smart thermostats, wear­able sensors and microchips smaller than a grain of sand. But this is just the beginning: nanomaterials 200 times stronger than steel and a million times thinner than a strand of hair and the first transplant of a 3D printed liver are already in development. Imagine “smart factories” in which global systems of manu­facturing are coordinated virtually, or implantable mobile phones made of biosynthetic materials.The fourth industrial revolution, says Schwab, is more significant, and its ramifications more profound, than in any prior period of human history. He outlines the key technologies driving this revolution and discusses the major impacts expected on government, business, civil society and individu­als. Schwab also offers bold ideas on how to harness these changes and shape a better future—one in which technology empowers people rather than replaces them; progress serves society rather than disrupts it; and in which innovators respect moral and ethical boundaries rather than cross them. We all have the opportunity to contribute to developing new frame­works that advance progress.

    A master storyteller as well as a leading energy expert, Yergin shows us how energy is an engine of global political and economic change. It is a story that spans the energies on which our civilization has been built and the new energies that are competing to replace them. From the jammed streets of Beijing to the shores of the Caspian Sea, from the conflicts in the Mideast to Capitol Hill and Silicon Valley, Yergin takes us into the decisions that are shaping our future.The drama of oil-the struggle for access, the battle for control, the insecurity of supply, the consequences of use, its impact on the global economy, and the geopolitics that dominate it-continues to profoundly affect our world.. Yergin tells the inside stories of the oil market and the surge in oil prices, the race to control the resources of the former Soviet empire, and the massive mergers that transformed the landscape of world oil. He tackles the toughest questions: Will we run out of oil? Are China and the United States destined to come into conflict over oil? How will a turbulent Middle East affect the future of oil supply?Yergin also reveals the surprising and sometimes tumultuous history of nuclear and coal, electricity, and the "shale gale" of natural gas, and how each fits into the larger marketplace. He brings climate change into unique perspective by offering an unprecedented history of how the field of climate study went from the concern of a handful of nineteenth- century scientists preoccupied with a new Ice Age into one of the most significant issues of our times.He leads us through the rebirth of renewable energies and explores the distinctive stories of wind, solar, and biofuels. He offers a perspective on the return of the electric car, which some are betting will be necessary for a growing global economy.The Quest presents an extraordinary range of characters and dramatic stories that illustrate the principles that will shape a robust and flexible energy security system for the decades to come. Energy is humbling in its scope, but our future requires that we deeply understand this global quest that is truly reshaping our world.

    We see how they rebrand themselves as saviors of the poor; how they lavishly reward "thought leaders" who redefine "change" in winner-friendly ways; and how they constantly seek to do more good, but never less harm. We hear the limousine confessions of a celebrated foundation boss; witness an American president hem and haw about his plutocratic benefactors; and attend a cruise-ship conference where entrepreneurs celebrate their own self-interested magnanimity.Giridharadas asks hard questions: Why, for example, should our gravest problems be solved by the unelected upper crust instead of the public institutions it erodes by lobbying and dodging taxes? He also points toward an answer: Rather than rely on scraps from the winners, we must take on the grueling democratic work of building more robust, egalitarian institutions and truly changing the world. A call to action for elites and everyday citizens alike.

    Much greater than space travel or perhaps even the next revolutionary medical breakthrough, what is at stake is the whole idea of the good life as we have known it.Immigration and inequality, globalization and technological disruption, slowing growth and accelerating climate change--these are sources of great anxiety across the world, from New Delhi and Dakar to Paris and Washington, DC. The resources to address these challenges are there--what we lack are ideas that will help us jump the wall of disagreement and distrust that divides us. If we succeed, history will remember our era with gratitude; if we fail, the potential losses are incalculable.In this revolutionary book, renowned MIT economists Abhijit V. Banerjee and Esther Duflo take on this challenge, building on cutting-edge research in economics explained with lucidity and grace. Original, provocative, and urgent, Good Economics for Hard Times makes a persuasive case for an intelligent interventionism and a society built on compassion and respect and show how economics, when done right, can help us solve the thorniest social and political problems of the day. It is an extraordinary achievement, one that shines a light to help us appreciate and understand our precariously balanced world.

    Every developed nation in the world at one time went through the transformation from predominantly informal, extralegal ownership to a formal, unified legal property system. In the West we've forgotten that creating this system is also what allowed people everywhere to leverage property into wealth. This persuasive book will revolutionize our understanding of capital and point the way to a major transformation of the world economy.

    We have been through the biggest financial crisis since the Great Depression, unemployment remains stubbornly high, and talk of a double-dip recession persists. Americans are not pulling the world economy out of its sluggish state -- if anything we are looking to Asia to drive a recovery. Median wages have risen only slowly since the 1970s, and this multi-decade stagnation is not yet over. By contrast, the living standards of earlier generations would double every few decades. The Democratic Party seeks to expand government spending even when the middle class feels squeezed, the public sector doesn't always perform well, and we have no good plan for paying for forthcoming entitlement spending. To the extent Republicans have a consistent platform, it consists of unrealistic claims about how tax cuts will raise revenue and stimulate economic growth. The Republicans, when they hold power, are often a bigger fiscal disaster than the Democrats. How did we get into this mess? Imagine a tropical island where the citrus and bananas hang from the trees. Low-hanging literal fruit -- you don't even have to cook the stuff. In a figurative sense, the American economy has enjoyed lots of low-hanging fruit since at least the seventeenth century: free land; immigrant labor; and powerful new technologies. Yet during the last forty years, that low-hanging fruit started disappearing and we started pretending it was still there. We have failed to recognize that we are at a technological plateau and the trees are barer than we would like to think. That's it. That is what has gone wrong. The problem won't be solved overnight, but there are reasons to be optimistic. We simply have to recognize the underlying causes of our past prosperity-low hanging fruit-and how we will come upon more of it.

    Electric lighting, indoor plumbing, motor vehicles, air travel, and television transformed households and workplaces. But has that era of unprecedented growth come to an end? Weaving together a vivid narrative, historical anecdotes, and economic analysis, The Rise and Fall of American Growth challenges the view that economic growth will continue unabated, and demonstrates that the life-altering scale of innovations between 1870 and 1970 cannot be repeated. Gordon contends that the nation's productivity growth will be further held back by the headwinds of rising inequality, stagnating education, an aging population, and the rising debt of college students and the federal government, and that we must find new solutions. A critical voice in the most pressing debates of our time, The Rise and Fall of American Growth is at once a tribute to a century of radical change and a harbinger of tougher times to come.

    Mankind is reengineering the planet, investing up to ten trillion dollars per year in transportation, energy, and communications infrastructure linking the world’s burgeoning megacities together. This has profound consequences for geopolitics, economics, demographics, the environment, and social identity. Connectivity, not geography, is our destiny. In Connectography, visionary strategist Parag Khanna travels from Ukraine to Iran, Mongolia to North Korea, Pakistan to Nigeria, and across the Arctic Circle and the South China Sea to explain the rapid and unprecedented changes affecting every part of the planet. He shows how militaries are deployed to protect supply chains as much as borders, and how nations are less at war over territory than engaged in tugs-of-war over pipelines, railways, shipping lanes, and Internet cables. The new arms race is to connect to the most markets—a race China is now winning, having launched a wave of infrastructure investments to unite Eurasia around its new Silk Roads. The United States can only regain ground by fusing with its neighbors into a super-continental North American Union of shared resources and prosperity.Connectography offers a unique and hopeful vision for the future. Khanna argues that new energy discoveries and technologies have eliminated the need for resource wars; ambitious transport corridors and power grids are unscrambling Africa’s fraught colonial borders; even the Arab world is evolving a more peaceful map as it builds resource and trade routes across its war-torn landscape. At the same time, thriving hubs such as Singapore and Dubai are injecting dynamism into young and heavily populated regions, cyber-communities empower commerce across vast distances, and the world’s ballooning financial assets are being wisely invested into building an inclusive global society. Beneath the chaos of a world that appears to be falling apart is a new foundation of connectivity pulling it together.Advance praise for Connectography“Connectography is ahead of the curve in seeing the battlefield of the future and the new kind of tug-of-war being waged on it. Khanna’s scholarship and foresight are world-class. . . . A must-read for the next president.”—Chuck Hagel, former U.S. secretary of defense “This bold reframing is an exciting addition to our ongoing debate about geopolitics and the future of globalization.”—Dominic Barton, global managing partner, McKinsey & Company “This is probably the most global book ever written. It is intensely specific while remaining broad and wide. Its takeaway is that infrastructure is destiny: Follow the supply lines outlined in this book to see where the future flows.”—Kevin Kelly, co-founder, Wired “There’s no better guide than Khanna to show us all the possibilities of this new hyperconnected world.”—Mathew Burrows, director, Strategic Foresight Initiative at the Atlantic Council, and former counselor, U.S. National Intelligence Council “This book is an invaluable resource for anyone involved in business, science, arts, or any other field.”—Mark Mobius, executive chairman, Templeton Emerging Markets Group “A must-read for anyone who wants to understand the future of humanity.”—Sandy Pentland, professor, MIT Media Lab

    But no book until this one has managed to penetrate its wall of silence or go beyond the usual polemics to analyze its actual effects on its customers, workers, and suppliers. Drawing on unprecedented interviews with former Wal-Mart executives and a wealth of staggering data (e.g., Americans spend $36 million an hour at Wal-Mart stores, and in 2004 its growth alone was bigger than the total revenue of 469 of the Fortune 500), The Wal-Mart Effect is an intimate look at a business that is dramatically reshaping our lives.

    In contrast, they have advanced a policy of draconian budget cuts--austerity--to solve the financial crisis. We are told that we have all lived beyond our means and now need to tighten our belts. This view conveniently forgets where all that debt came from. Not from an orgy of government spending, but as the direct result of bailing out, recapitalizing, and adding liquidity to the broken banking system. Through these actions private debt was rechristened as government debt while those responsible for generating it walked away scot free, placing the blame on the state, and the burden on the taxpayer. That burden now takes the form of a global turn to austerity, the policy of reducing domestic wages and prices to restore competitiveness and balance the budget. The problem, according to political economist Mark Blyth, is that austerity is a very dangerous idea. First of all, it doesn't work. As the past four years and countless historical examples from the last 100 years show, while it makes sense for any one state to try and cut its way to growth, it simply cannot work when all states try it simultaneously: all we do is shrink the economy. In the worst case, austerity policies worsened the Great Depression and created the conditions for seizures of power by the forces responsible for the Second World War: the Nazis and the Japanese military establishment. As Blyth amply demonstrates, the arguments for austerity are tenuous and the evidence thin. Rather than expanding growth and opportunity, the repeated revival of this dead economic idea has almost always led to low growth along with increases in wealth and income inequality. Austerity demolishes the conventional wisdom, marshaling an army of facts to demand that we austerity for what it is, and what it costs us.

    When it first appeared the New English Weekly predicted that 'for the next five to ten years it will cetainly remain a work with which no one who professes any degree of information on sociology or economics can afford to be unacquainted.' Fifty years on, this prediction seems a little understated.Why has the work endured so well? Schumpeter's contention that the seeds of capitalism's decline were internal, and his equal and opposite hostility to centralist socialism have perplexed, engaged and infuriated readers since the book's publication. By refusing to become an advocate for either position Schumpeter was able both to make his own great and original contribution and to clear the way for a more balanced consideration of the most important social movements of his and our time.

    (Marginal cost is the cost of producing additional units of a good or service, if fixed costs are not counted.) While economists have always welcomed a reduction in marginal cost, they never anticipated the possibility of a technological revolution that might bring marginal costs to near zero, making goods and services priceless, nearly free, and abundant, and no longer subject to market forces.Now, a formidable new technology infrastructure—the Internet of things (IoT)—is emerging with the potential of pushing large segments of economic life to near zero marginal cost in the years ahead. Rifkin describes how the Communication Internet is converging with a nascent Energy Internet and Logistics Internet to create a new technology platform that connects everything and everyone. Billions of sensors are being attached to natural resources, production lines, the electricity grid, logistics networks, recycling flows, and implanted in homes, offices, stores, vehicles, and even human beings, feeding Big Data into an IoT global neural network. Prosumers can connect to the network and use Big Data, analytics, and algorithms to accelerate efficiency, dramatically increase productivity, and lower the marginal cost of producing and sharing a wide range of products and services to near zero, just like they now do with information goods.The plummeting of marginal costs is spawning a hybrid economy—part capitalist market and part Collaborative Commons—with far reaching implications for society, according to Rifkin. Hundreds of millions of people are already transferring parts of their economic lives to the global Collaborative Commons. Prosumers are plugging into the fledgling IoT and making and sharing their own information, entertainment, green energy, and 3D-printed products at near zero marginal cost. They are also sharing cars, homes, clothes and other items via social media sites, rentals, redistribution clubs, and cooperatives at low or near zero marginal cost. Students are enrolling in free massive open online courses (MOOCs) that operate at near zero marginal cost. Social entrepreneurs are even bypassing the banking establishment and using crowdfunding to finance startup businesses as well as creating alternative currencies in the fledgling sharing economy. In this new world, social capital is as important as financial capital, access trumps ownership, sustainability supersedes consumerism, cooperation ousts competition, and "exchange value" in the capitalist marketplace is increasingly replaced by "sharable value" on the Collaborative Commons.Rifkin concludes that capitalism will remain with us, albeit in an increasingly streamlined role, primarily as an aggregator of network services and solutions, allowing it to flourish as a powerful niche player in the coming era. We are, however, says Rifkin, entering a world beyond markets where we are learning how to live together in an increasingly interdependent global Collaborative Commons.

    Fishman's bestselling explanation of how China is rapidly becoming a global industrial superpower and how the American economy is challenged by this new reality.China today is visible everywhere -- in the news, in the economic pressures battering the globe, in our workplaces, and in every trip to the store. Provocative, timely, and essential -- and updated with new statistics and information -- this dramatic account of China's growing dominance as an industrial superpower by journalist Ted C. Fishman explains how the profound shift in the world economic order has occurred -- and why it already affects us all. How has an enormous country once hobbled by poverty and Communist ideology come to be the supercharged center of global capitalism? What does it mean that China now grows three times faster than the United States? Why do nearly all of the world's biggest companies have large operations in China? What does the corporate march into China mean for workers left behind in America, Europe, and the rest of the world? Meanwhile, what makes China's emerging corporations so dangerously competitive? What will happen when China manufactures nearly everything -- computers, cars, jumbo jets, and pharmaceuticals -- that the United States and Europe can, at perhaps half the cost? How do these developments reach around the world and straight into all of our lives? These are ground-shaking questions, and China, Inc. provides answers. Veteran journalist Ted C. Fishman shows how China will force all of us to make big changes in how we think about ourselves as consumers, workers, citizens, and even as parents. The result is a richly engaging work of penetrating, up-to-the-minute reportage and brilliant analysis that will forever change how readers think about America's future.

    An urban landscape littered with ghost towns of empty property. Industrial zones stalked by zombie firms. Trade tariffs blocking the path to global markets.And yet, against the odds and against expectations, growth continues, wealth rises, international influence expands. The coming collapse of China is always coming, never arriving.Thomas Orlik, a veteran of more than a decade in Beijing, turns the spotlight on China's fragile fundamentals, and resources for resilience. Drawing on discussions with Communist cadres, shadow bankers, and migrant workers, Orlik pieces together a unique perspective on China's past, present, and possible futures.From Deng Xiaoping's reform and opening to Donald Trump's trade war, Orlik traces the policy steps and missteps that have taken China to the brink of a "Lehman moment" credit crisis. Delving into the balance sheets for banks, corporates, and local governments, he plumbs the depths of financial risks. From Japan in 1989, to Korea in 1997, to the U.S. in 2007, he positions China in the context of a rolling series of global crisis.Mapping possible scenarios, Orlik games out what will happens if the bubble that never pops finally does. The magnitude of the shock to China and the world would be tremendous. For those in the West nervously watching China's rise as a geopolitical challenger, the alternative could be even less palatable.

    If you've never had to survive on an income so small, it is hard to imagine. How would you put food on the table, afford a home, and educate your children? How would you handle emergencies and old age? Every day, more than a billion people around the world must answer these questions. Portfolios of the Poor is the first book to systematically explain how the poor find solutions to their everyday financial problems.The authors conducted year-long interviews with impoverished villagers and slum dwellers in Bangladesh, India, and South Africa--records that track penny by penny how specific households manage their money. The stories of these families are often surprising and inspiring. Most poor households do not live hand to mouth, spending what they earn in a desperate bid to keep afloat. Instead, they employ financial tools, many linked to informal networks and family ties. They push money into savings for reserves, squeeze money out of creditors whenever possible, run sophisticated savings clubs, and use microfinancing wherever available. Their experiences reveal new methods to fight poverty and ways to envision the next generation of banks for the "bottom billion."Indispensable for those in development studies, economics, and microfinance, Portfolios of the Poor will appeal to anyone interested in knowing more about poverty and what can be done about it.