Each time, the experts have chimed, "this time is different"--claiming that the old rules of valuation no longer apply and that the new situation bears little similarity to past disasters. With this breakthrough study, leading economists Carmen Reinhart and Kenneth Rogoff definitively prove them wrong. Covering sixty-six countries across five continents, This Time Is Different presents a comprehensive look at the varieties of financial crises, and guides us through eight astonishing centuries of government defaults, banking panics, and inflationary spikes--from medieval currency debasements to today's subprime catastrophe. Carmen Reinhart and Kenneth Rogoff, leading economists whose work has been influential in the policy debate concerning the current financial crisis, provocatively argue that financial combustions are universal rites of passage for emerging and established market nations. The authors draw important lessons from history to show us how much--or how little--we have learned. Using clear, sharp analysis and comprehensive data, Reinhart and Rogoff document that financial fallouts occur in clusters and strike with surprisingly consistent frequency, duration, and ferocity. They examine the patterns of currency crashes, high and hyperinflation, and government defaults on international and domestic debts--as well as the cycles in housing and equity prices, capital flows, unemployment, and government revenues around these crises. While countries do weather their financial storms, Reinhart and Rogoff prove that short memories make it all too easy for crises to recur. An important book that will affect policy discussions for a long time to come, This Time Is Different exposes centuries of financial missteps.

    As war and conflict replaced peace, Africa's infrastructure crumbled. Instead of bemoaning the myriad difficulties facing the continent today, Ayittey boldly proposes a program of development--a way forward--for Africa. Africa Unchained investigates how Africa can modernize, build, and improve its indigenous institutions, and argues forcefully that Africa should build and expand upon traditions of free markets and free trade rather than continuing to use exploitative economic structures. The economic model here is uniquely African and takes little heed from the developed world; this is sure to be a highly controversial plan for moving Africa forward.

    

    In this fascinating book, the prize-winning historian David E. Kyvig describes everyday life in these decades, when automobiles and home electricity became commonplace, when radio and the movies became broadly popular. The details of work life, domestic life, and leisure activities make engrossing reading and bring the era clearly into focus.

    In the four decades between 1969 and 2008, these economists played a leading role in reshaping taxation and public spending and clearing the way for globalization. They reshaped the government's approach to regulation, assigning a value to human life to determine which rules are worthwhile. Economists even convinced President Nixon to end military conscription.The United States was the epicenter of the intellectual ferment, but the embrace of markets was a global phenomenon, seizing the imagination of politicians in countries including the United Kingdom, Chile and New Zealand.This book is also a reckoning. The revolution failed to deliver on its central promise of increased prosperity. In the United States, growth has slowed in every successive decade since the 1960s. And the cost of the failure was steep. Policymakers traded well-paid jobs for low-cost electronics; the loss of work weakened the fabric of society and of democracy. Soaring inequality extends far beyond incomes: Life expectancy for less affluent Americans has declined in recent years. And the focus on efficiency has come at the expense of the future: Lower taxes instead of education and infrastructure; limited environmental regulation as oceans rise and California burns.

    Gross national product, balance of trade, unemployment, inflation, and consumer confidence guide our actions, yet few of us know where these numbers come from, what they mean, or why they rule our world.In The Leading Indicators, Zachary Karabell tells the fascinating history of these indicators. They were invented in the mid-twentieth century to address the urgent challenges of the Great Depression, World War II, and the Cold War. They were rough measures— designed to give clarity in a data-parched world that was made up of centralized, industrial nations—yet we still rely on them today.We live in a world shaped by information technology and the borderless flow of capital and goods. When we follow a 1950s road map for a twenty-first-century world, we shouldn’t be surprised if we get lost.What is urgently needed, Karabell makes clear, is not that we invent a new set of numbers but that we tap into the thriving data revolution, which offers unparalleled access to the information we need. Companies should not base their business plans on GDP projections; individuals should not decide whether to buy a home or get a degree based on the national unemployment rate. If you want to buy a home, look for a job, start a company, or run a business, you should find your own indicators. National housing figures don’t matter; local ones do. You can find them at the click of a button. Personal, made-to-order indicators will meet our needs today, and the revolution is well underway. We need only to join it.

    It bears witness to the horrors endured by a teenage boy whose freedom and family are forcibly wrested from him. This new study guide to Wiesel's moving story also features an annotated bibliography, a listing of other works by the author, and an introduction by literary scholar Harold Bloom.

    To what are our duties owed and why? How do we respond to the pull of globalisation and mass migration, to the rise of Islam and to the decline of Christian belief? Do we accept these as inevitable or do we resist them? If we resist them on what basis do we build? This book sets out to answer these questions, and to understand the volatile moment in which we live.Roger Scruton slices characteristically through the fog of debate with this sensible and profound account of our collective identity; essential reading for anyone interested in what it means to be British, what that might come to mean in future, and who wonders how we can define our place in a rapidly changing world.

    In his most widely appealing book yet, one of today's leading authors of popular anthropology looks at the intriguing history and peculiar nature of money, tracing our relationship with it from the time when primitive men exchanged cowrie shells to the imminent arrival of the all-purpose electronic cash card.

    But the story of his rise to greatness is as complex as it is compelling. In this superb biography, the highly regarded Oxford University historian Richard Carwardine examines Lincoln both in his dramatic political journey and in his nation-shaping White House years. Through his groundbreaking research, Carwardine probes the sources of Lincoln’s moral and political philosophy. We see how, while pursuing office, Lincoln drew strength from public opinion and the machinery of his party. We see him, as a wartime president, recognizing the limits as well as the possibilities of power, and the necessity of looking for support beyond his own administration. We see how he turned to the churches, to their humanitarian agencies, and to the volunteer Union Army for allies in his struggle to end slavery.In illuminating the political talents that went hand in hand with large and serious moral purpose, Carwardine gives us a fresh, important portrait of the incomparable Abraham Lincoln.

    A study of Machen's thought and career that says much about the issues that unsettled mainstream Protestantism's hold on American intellectual and cultural life.

    In fact it was a dramatic caesura of global significance that spiraled around the world, from the financial markets of the UK and Europe to the factories and dockyards of Asia, the Middle East, and Latin America, forcing a rearrangement of global governance. In the United States and Europe, it caused a fundamental reconsideration of capitalist democracy, eventually leading to the war in the Ukraine, the chaos of Greece, Brexit, and Trump.It was the greatest crisis to have struck Western societies since the end of the Cold War, but was it inevitable? And is it over? Crashed is a dramatic new narrative resting on original themes: the haphazard nature of economic development and the erratic path of debt around the world; the unseen way individual countries and regions are linked together in deeply unequal relationships through financial interdependence, investment, politics, and force; the ways the financial crisis interacted with the spectacular rise of social media, the crisis of middle-class America, the rise of China, and global struggles over fossil fuels.Finally, Tooze asks, given this history, what now are the prospects for a liberal, stable, and coherent world order?

    It’s the epic story of the making of modern economics, and of how economics rescued mankind from squalor and deprivation by placing its material fate in its own hands rather than in Fate. Nasar’s account begins with Charles Dickens and Henry Mayhew observing and publishing the condition of the poor majority in mid-nineteenth-century London, the richest and most glittering place in the world. This was a new pursuit. She describes the often heroic efforts of Marx, Engels, Alfred Marshall, Beatrice and Sydney Webb, and the American Irving Fisher to put those insights into action—with revolutionary consequences for the world. From the great John Maynard Keynes to Schumpeter, Hayek, Keynes’s disciple Joan Robinson, the influential American economists Paul Samuelson and Milton Freedman, and India’s Nobel Prize winner Amartya Sen, she shows how the insights of these activist thinkers transformed the world—from one city, London, to the developed nations in Europe and America, and now to the entire planet. In Nasar’s dramatic narrative of these discoverers we witness men and women responding to personal crises, world wars, revolutions, economic upheavals, and each other’s ideas to turn back Malthus and transform the dismal science into a triumph over mankind’s hitherto age-old destiny of misery and early death. This idea, unimaginable less than 200 years ago, is a story of trial and error, but ultimately transcendent, as it is rendered here in a stunning and moving narrative.

    An elegant storyteller and expert historian, Esther Forbes paints a memorable portrait of American colonial history and of this most legendary of revolutionary heroes -- "not merely one man riding one horse on a certain lonely night of long ago, but a symbol to which his countrymen can yet turn."

    The city’s real story—told by Maureen Ogle in this lively and engaging illustrated account—is as fabulous as fiction. In the two centuries since the city’s pioneer founders battled Indians, pirates, and deadly disease, Key West has stood at the crossroads of American history. In 1861, Union troops seized control of strategically located Key West. In the early 1890s, Key West Cubans helped José Martí launch the Cuban revolution, and a few years later the battleship Maine steamed out of Key West harbor on its last, tragic voyage. At the turn of the century, a technological marvel—the overseas railroad—was built to connect mainland Florida to Key West, and in the 1920s and 1930s, painters, rumrunners, and writers (including Ernest Hemingway and Robert Frost) discovered Key West. During World War II, the federal government and the military war machine permanently altered the island’s landscape, and in the second half of the 20th century, bohemians, hippies, gays, and jet-setters began writing a new chapter in Key West’s social history.