Disenchantment with the market economy hasreached the point that many even question capitalism itself.Allan H. Meltzer disagrees, passionately and persuasively. Drawing on deep expertise as a financial historian and authority on economic theory, he provides a resounding answer to the question, why capitalism? Only capitalism, he writes, maximizes both growth and individual freedom. Unlikesocialism, capitalism is adaptive, not rigid--private ownership of the means of production flourishes wherever it takes root, regardless of culture. Laws intended to tamper with its fundamental dynamics, such as those that redistribute wealth, fail. European countries boasting extensive welfareprograms have not surpassed the more market-oriented United States. Capitalism does require a strong legal framework, Meltzer writes, and it does not solve all problems efficiently. But he finds that its problems stem from universal human weaknesses--such as dishonesty, venality, andexpediency--which are not specific to capitalism. Along the way, he systematically analyzes the role of government, positing that regulations are static, but markets are dynamic, usually seeking ways to skirt the rules. Regulation is socially useful if it brings private costs into line with socialcosts (for example, the cost of taxes to hire policemen compared to that of the impact of rampant crime); if it doesn't, regulation simply invites circumvention.Vigorously argued, sweeping in scope, Why Capitalism? reminds us of the fundamental vitality of the one economic system that has survived every challenge, and risen to dominate the globe.

    Brilliant but temperamentally cautious, Bernanke researched and wrote about the causes of the Depression during his career as an academic. Then when thrust into a role as one of the most important people in the world, he was compelled to boldness by circumstances he never anticipated.The president of the United States can respond instantly to a missile attack with America’s military might, but he cannot respond to a financial crisis with real money unless Congress acts. The Fed chairman can. Bernanke did. Under his leadership the Fed spearheaded the biggest government intervention in more than half a century and effectively became the fourth branch of government, with no direct accountability to the nation’s voters.Believing that the economic catastrophe of the 1930s was largely the fault of a sluggish and wrongheaded Federal Reserve, Bernanke was determined not to repeat that epic mistake. In this penetrating look inside the most powerful economic institution in the world, David Wessel illuminates its opaque and undemocratic inner workings, while revealing how the Bernanke Fed led the desperate effort to prevent the world’s financial engine from grinding to a halt.In piecing together the fullest, most authoritative, and alarming picture yet of this decisive moment in our nation’s history, In Fed We Trust answers the most critical questions. Among them:• What did Bernanke and his team at the Fed know–and what took them by surprise? Which of their actions stretched–or even ripped through–the Fed’s legal authority? Which chilling numbers and indicators made them feel they had no choice?• What were they thinking at pivotal moments during the race to sell Bear Stearns, the unsuccessful quest to save Lehman Brothers, and the virtual nationalization of AIG, Fannie Mae, and Freddie Mac? What were they saying to one another when, as Bernanke put it to Wessel: “We came very close to Depression 2.0”?• How well did Bernanke, former treasury secretary Hank Paulson, and then New York Fed president Tim Geithner perform under intense pressure? • How did the crisis prompt a reappraisal of the once-impregnable reputation of Alan Greenspan? In Fed We Trust is a breathtaking and singularly perceptive look at a historic episode in American and global economic history.

    

    

    In this provocative and stimulating book critically acclaimed author Will Hutton warns instead that China is running up against a set of daunting challenges from within its own political and economic system that could well derail its rise, leading to a massive shock to the global economy. The United States, he argues, must recognize that it has a vital stake in working to assure this doesn't happen, for if China's political liberalization and economic growth collapse, the United States will suffer crippling consequences.In today's highly globalized world economy, so much of the economic health of the United States -- our low inflation, high profits, and cheap credit -- rests upon China's economic growth and its massive investment in the United States. A great deal has been said about the economic and military threat China poses. But rather than provoking China with the military hawkishness of recent years and resisting Chinese economic supremacy with the saber rattling of protectionist antitrade policies -- twenty such bills have been introduced in Congress in just the last year -- the United States must build a strong relationship that will foster China's transition from an antiquated Communist state beset with profound problems to a fully modern, enlightened, and open society. Doing so will require understanding and engagement, not enmity and suspicion.China's current economic model, Hutton explains, is unsustainable, premised as it is on the myriad contradictions and dysfunctions of an authoritarian state attempting to control an economy in its transition to capitalism. If the twenty-first century is to be the China century, the Chinese will have to embrace the features of modern Western nations that have spurred the political stability and economic power of the United States and Europe: the rule of law, an independent judiciary, freedom of the press, and authentic representative government that is accountable to the people. Whether or not China does so rests in large part on how well the United States manages the relationship and persuades the Chinese of the virtues of an open, enlightened democratic system. The danger is that fearmongering will intensify animosities, leading both countries down a path of peril.Turning conventional wisdom on its head, this brilliantly argued book is vital reading at a crucial juncture in world affairs.

    Financial markets are the least understood and most highly criticized part of the capitalist system. The greed of participants involved in scandals like Enron adds fuel to the fire that these markets are a tool of the rich. Powerful interest groups oppose markets, especially financial markets, because markets undermine their power. Winners in the market want to entrench their position and prevent others from breaking through by suppressing markets. Losers would also like to suppress the market because they cannot compete. Saving Capitalism From the Capitalists explores how financial markets free human ingenuity, make nations competitive and are the basis for broadening prosperity.

    It is rare that an economist has the courage and aptitude to take a studied look at real world issues and to lay out the advantages and disadvantages of current policies. Coyle takes these potentially confusing and politically rife issues and makes them straightforward, thereby educating the reader in an entertaining and sophisticated manner. Coyle uses humour and irony to explain the issues. Who else could draw a link between Japanese teenage fashion and the country's long standing liquidity trap; or how sunspots can determine whether we will have a financial crisis on earth; or how pork belly futures depend on the weather and pigs' amorous intentions? Throughout the book, Diane Coyle highlights the fact that above all, economics is a social science, and one that affects us all.

    Renowned economist and Nobel Prize winner Joseph E. Stiglitz had a ringside seat for most of the major economic events of the last decade, including stints as chairman of the Council of Economic Advisers and chief economist at the World Bank. Particularly concerned with the plight of the developing nations, he became increasingly disillusioned as he saw the International Monetary Fund and other major institutions put the interests of Wall Street and the financial community ahead of the poorer nations. Those seeking to understand why globalization has engendered the hostility of protesters in Seattle and Genoa will find the reasons here. While this book includes no simple formula on how to make globalization work, Stiglitz provides a reform agenda that will provoke debate for years to come. Rarely do we get such an insider's analysis of the major institutions of globalization as in this penetrating book. With a new foreword for this paperback edition.

    In The Soul of Capitalism, Greider examines how the greatest wealth-creation engine in the history of the world is failing most of us, why it must be changed, and how specifically it can be transformed. Brilliantly perceptive and sweeping in its ambition, The Soul of Capitalism is also hard-headed and practical, as Greider, one of our most eloquent populist spokesmen, assures us we are not powerless. He illustrates how American capitalism can be aligned more faithfully and obediently with what people want and need in their lives, with what American society needs for a healthy, balanced, and humane future. He proves that it is within our power to reinvent capitalism to make it work for us. The Soul of Capitalism -- solid, pragmatic, visionary, optimistic -- addresses the nation's most urgent needs.

    Arcane credit derivative bets are now well into the tens of trillions. According to Charles R. Morris, the astronomical leverage at investment banks and their hedge fund and private equity clients virtually guarantees massive disruption in global markets. The crash, when it comes, will have no firebreaks. A quarter century of free-market zealotry that extolled asset stripping, abusive lending, and hedge fund secrecy will come crashing down with it.The Trillion Dollar Meltdown explains how we got here, and what is about to happen. After the crash our priorities will be quite different. But things are likely to get worse before they better. Whether you are an active investor, a homeowner, or a contributor to your 401(k) plan, The Trillion Dollar Meltdown will be indispensable to understanding the gross excess that has put the world economy on the brink--and what the new landscape will look like.

    Farrar, Straus and Giroux, 2009.

    Poker's biggest players, such as Phil Ivey (2009 WSOP Main Event Finalist), Johnny Chan, Phil Hellmuth, Doyle Brunson and Daniel Negreanu give first-person accounts of their personal journeys and the key moments in their rise to the top of the poker pantheon. These stories will teach, inspire and make you laugh. Deal Me In humanizes the larger-than-life personalities, allowing the reader to understand more about poker strategy through the trials and errors of the best players in the game. Each poker legend tells his or her own story in the book including: Doyle Brunson, Phil Hellmuth, Daniel Negreanu, Phil Ivey, Annie Duke, Johnny Chan, Chris Jesus Ferguson, Carlos Mortensen, Chau Giang, Jennifer Harman, Allen Cunningham, Howard Lederer, Erik Seidel, Chad Brown, David Devilfish Ulliott, Layne Flack, Scotty Nguyen, Annette Obrestad, Tom Dwan and the 2008 Main Event winner Peter Eastgate.

    Now, in an entertaining and accessible primer, he explains how the global economy actually works—in real-world terms. Writing with irreverent wit, a deep knowledge of history, and a disregard for conventional economic pieties, Chang offers insights that will never be found in the textbooks.Unlike many economists, who present only one view of their discipline, Chang introduces a wide range of economic theories, from classical to Keynesian, revealing how each has its strengths and weaknesses, and why  there is no one way to explain economic behavior. Instead, by ignoring the received wisdom and exposing the myriad forces that shape our financial world, Chang gives us the tools we need to understand our increasingly global and interconnected world often driven by economics. From the future of the Euro, inequality in China, or the condition of the American manufacturing industry here in the United States—Economics: The User’s Guide is a concise and expertly crafted guide to economic fundamentals that offers a clear and accurate picture of the global economy and how and why it affects our daily lives.

     The next ten years will be a time of massive transition. The wars in the Islamic world will be subsiding, and terrorism will become something we learn to live with. China will be encountering its crisis. We will be moving from a time when financial crises dominate the world to a time when labor shortages will begin to dominate. The new century will be taking shape in the next decade. In The Next Decade, George Friedman offers readers a pro­vocative and endlessly fascinating prognosis for the immedi­ate future. Using Machiavelli’s The Prince as a model, Friedman focuses on the world’s leaders—particularly the American president—and with his trusted geopolitical insight analyzes the complex chess game they will all have to play. The book also asks how to be a good president in a decade of extraordinary challenge, and puts the world’s leaders under a microscope to explain how they will arrive at the decisions they will make—and the consequences these actions will have for us all.From the Hardcover edition.

    VALUE(S) is a meditation on his experiences that examines the short-comings and challenges of the market in the past decade which he argues has led to rampant, public distrust and the need for radical change.Focusing on four major crises-the Global Financial Crisis, the Global Health Crisis, Climate Change and the 4th Industrial Revolution-- Carney proposes responses to each. His solutions are tangible action plans for leaders, companies and countries to transform the value of the market back into the value of humanity.