I.O.U. is the story of how we came to experience such a complete and devastating financial implosion, and how the decisions and actions of a select group of individuals had profound consequences for America, Europe, and the global economy overall. John Lanchester begins with "The ATM Moment," that seemingly magical proliferation of cheap credit that led to an explosion of lending, and then deftly outlines the global and local landscapes of banking and finance. Viewing the crisis through the lens of politics, culture, and contemporary history -- from the invention and widespread misuse of financial instruments to the culpability of subprime mortgages -- Lanchester draws perceptive conclusions on the limitations of financial and governmental regulation, capitalism's deepest flaw, and, most important, on the plain and simple facts of human nature where cash is concerned.Weaving together firsthand research and superbly written reportage, Lanchester delivers a shrewd perspective and a digestible, comprehensive analysis that connects the dots for the expert and casual reader alike. I.O.U. is an eye-opener of a book -- it may well provoke anger, amazement, or rueful disbelief -- and, as the author clearly reveals, we've only just begun to get ourselves back on track.

    Or the "Phantom of Fine Hall," a figure many students had seen shuffling around the corridors of the math and physics building wearing purple sneakers and writing numerology treatises on the blackboards. The Phantom was John Nash, one of the most brilliant mathematicians of his generation, who had spiraled into schizophrenia in the 1950s. His most important work had been in game theory, which by the 1980s was underpinning a large part of economics. When the Nobel Prize committee began debating a prize for game theory, Nash's name inevitably came up—only to be dismissed, since the prize clearly could not go to a madman. But in 1994 Nash, in remission from schizophrenia, shared the Nobel Prize in economics for work done some 45 years previously.Economist and journalist Sylvia Nasar has written a biography of Nash that looks at all sides of his life. She gives an intelligent, understandable exposition of his mathematical ideas and a picture of schizophrenia that is evocative but decidedly unromantic. Her story of the machinations behind Nash's Nobel is fascinating and one of very few such accounts available in print (the CIA could learn a thing or two from the Nobel committees).

    Galbraith's prose has grace and wit, and he distills a good deal of sardonic fun from the whopping errors of the nation's oracles and the wondrous antics of the financial community." Now, with the stock market riding historic highs, the celebrated economist returns with new insights on the legacy of our past and the consequences of blind optimism and power plays within the financial community.

    By day he passed through mountains covered in nine feet of snow, hamlets burned and emptied by the Taliban, and communities thriving amid the remains of medieval civilizations. By night he slept on villagers' floors, shared their meals, and listened to their stories of the recent and ancient past. Along the way Stewart met heroes and rogues, tribal elders and teenage soldiers, Taliban commanders and foreign-aid workers. He was also adopted by an unexpected companion-a retired fighting mastiff he named Babur in honor of Afghanistan's first Mughal emperor, in whose footsteps the pair was following. Through these encounters--by turns touching, confounding, surprising, and funny--Stewart makes tangible the forces of tradition, ideology, and allegiance that shape life in the map's countless places in between.

    But none has revealed just how significant a role it plays in the global economy--until now.A groundbreaking book sure to leave its mark in the canon of investing literature, The Rise of Carry explains how carry trading has virtually shaped the global economic picture--one of decaying economic growth, recurring crises, wealth disparity, and, in too many places, social and political upheaval. The authors explain how carry trades work--particularly in the currency and stock markets--and provide a compelling case for how carry trades have come to dominate the entire global business cycle. They provide thorough analyses of critical but often overlooked topics and issues, including:-The active role stock prices play in causing recessions--as opposed to the common belief that recessions cause price crashes-The real driving force behind financial asset prices-The ways that carry, volatility selling, leverage, liquidity, and profitability affect the business cycle-How positive returns to carry over time are related to market volatility--and how central bank policies have supercharged these returnsSimply put, carry trading is now the primary determinant of the global business cycle--a pattern of long, steady but unspectacular expansions punctuated by catastrophic crises.The Rise of Carry provides foundational knowledge and expert insights you need to protect yourself from what have come to be common market upheavals--as well as the next major crisis.

    Beginning with Adam Smith and continuing through to the present day, this work examines the contributions made by each individual to the role of the economist, the science of economics, and economic theory.

    Was she “the people’s princess,” who electrified the world with her beauty and humanitarian missions? Or was she a manipulative, media-savvy neurotic who nearly brought down the monarchy? Only Tina Brown, former editor-in-chief of Tatler, England’s glossiest gossip magazine; Vanity Fair; and The New Yorker could possibly give us the truth. Updated with a new foreword.

     When the marines -- or "jarheads," as they call themselves -- were sent in 1990 to Saudi Arabia to fight the Iraqis, Swofford was there, with a hundred-pound pack on his shoulders and a sniper's rifle in his hands. It was one misery upon another. He lived in sand for six months, his girlfriend back home betrayed him for a scrawny hotel clerk, he was punished by boredom and fear, he considered suicide, he pulled a gun on one of his fellow marines, and he was shot at by both Iraqis and Americans. At the end of the war, Swofford hiked for miles through a landscape of incinerated Iraqi soldiers and later was nearly killed in a booby-trapped Iraqi bunker. Swofford weaves this experience of war with vivid accounts of boot camp (which included physical abuse by his drill instructor), reflections on the mythos of the marines, and remembrances of battles with lovers and family. As engagement with the Iraqis draws closer, he is forced to consider what it is to be an American, a soldier, a son of a soldier, and a man. Unlike the real-time print and television coverage of the Gulf War, which was highly scripted by the Pentagon, Swofford's account subverts the conventional wisdom that U.S. military interventions are now merely surgical insertions of superior forces that result in few American casualties. Jarhead insists we remember the Americans who are in fact wounded or killed, the fields of smoking enemy corpses left behind, and the continuing difficulty that American soldiers have reentering civilian life. A harrowing yet inspiring portrait of a tormented consciousness struggling for inner peace, Jarhead will elbow for room on that short shelf of American war classics that includes Philip Caputo's A Rumor of War and Tim O'Brien's The Things They Carried, and be admired not only for the raw beauty of its prose but also for the depth of its pained heart.

    Just about everyone thinks they know how they got there. Just about everyone is wrong. For all that's been written about the Four over the last two decades, no one has captured their power and staggering success as insightfully as Scott Galloway.Instead of buying the myths these compa-nies broadcast, Galloway asks fundamental questions. How did the Four infiltrate our lives so completely that they're almost impossible to avoid (or boycott)? Why does the stock market forgive them for sins that would destroy other firms? And as they race to become the world's first trillion-dollar company, can anyone chal-lenge them?In the same irreverent style that has made him one of the world's most celebrated business professors, Galloway deconstructs the strategies of the Four that lurk beneath their shiny veneers. He shows how they manipulate the fundamental emotional needs that have driven us since our ancestors lived in caves, at a speed and scope others can't match. And he reveals how you can apply the lessons of their ascent to your own business or career.Whether you want to compete with them, do business with them, or simply live in the world they dominate, you need to understand the Four.

    Benjamin Franklin, perhaps the pivotal figure in colonial and revolutionary America, comes vividly to life in this masterly biography.Wit, diplomat, scientist, philosopher, businessman, inventor, and bon vivant, Benjamin Franklin was in every respect America’s first Renaissance man. From penniless runaway to highly successful printer, from ardently loyal subject of Britain to architect of an alliance with France that ensured America’s independence, Franklin went from obscurity to become one of the world’s most admired figures, whose circle included the likes of Voltaire, Hume, Burke, and Kant. Drawing on previously unpublished letters and a host of other sources, acclaimed historian H. W. Brands has written a thoroughly engaging biography of the eighteenth-century genius. A much needed reminder of Franklin’s greatness and humanity, The First American is a work of meticulous scholarship that provides a magnificent tour of a legendary historical figure, a vital era in American life, and the countless arenas in which the protean Franklin left his legacy.