But far more people die from gun deaths on the street corners of inner city America and across the border as Mexico's powerful cartels battle to control the drug trade. Guns and drugs aren't often connected in our heated discussions of gun control-but they should be. In Ioan Grillo's groundbreaking new work of investigative journalism, he shows us this connection by following the market for guns in the Americas and how it has made the continent the most murderous on earth.Grillo travels to gun manufacturers, strolls the aisles of gun shows and gun shops, talks to FBI agents who have infiltrated biker gangs, hangs out on Baltimore street corners, and visits the ATF gun tracing center in West Virginia. Along the way, he details the many ways that legal guns can cross over into the black market and into the hands of criminals, fueling violence here and south of the border. Simple legislative measures would help close these loopholes, but America's powerful gun lobby is uncompromising in its defense of the hallowed Second Amendment. Perhaps, however, if guns were seen not as symbols of freedom, but as key accessories in our epidemics of addiction, the conversation would shift. Blood Gun Money is that conversation shifter.

    Renowned economist Nouriel Roubini electrified his profession and the larger financial community by predicting the current crisis well in advance of anyone else. Unlike most in his profession who treat economic disasters as freakish once-in-a-lifetime events without clear cause, Roubini, after decades of careful research around the world, realized that they were both probable and predictable. Armed with an unconventional blend of historical analysis and global economics, Roubini has forced politicians, policy makers, investors, and market watchers to face a long-neglected truth: financial systems are inherently fragile and prone to collapse. Drawing on the parallels from many countries and centuries, Nouriel Roubini and Stephen Mihm, a professor of economic history and a "New York Times Magazine" writer, show that financial cataclysms are as old and as ubiquitous as capitalism itself. The last two decades alone have witnessed comparable crises in countries as diverse as Mexico, Thailand, Brazil, Pakistan, and Argentina. All of these crises-not to mention the more sweeping cataclysms such as the Great Depression-have much in common with the current downturn. Bringing lessons of earlier episodes to bear on our present predicament, Roubini and Mihm show how we can recognize and grapple with the inherent instability of the global financial system, understand its pressure points, learn from previous episodes of "irrational exuberance," pinpoint the course of global contagion, and plan for our immediate future. Perhaps most important, the authors-considering theories, statistics, and mathematical models with the skepticism that recent history warrants explain how the world's economy can get out of the mess we're in, and stay out. In Roubini's shadow, economists and investors are increasingly realizing that they can no longer afford to consider crises the black swans of financial history. A vital and timeless book, "Crisis Economics" proves calamities to be not only predictable but also preventable and, with the right medicine, curable."

    More than thirty percent of South Africa's population receive such payments, even as pundits elsewhere proclaim the neoliberal death of the welfare state. These programs' successes at reducing poverty under conditions of mass unemployment, Ferguson argues, provide an opportunity for rethinking contemporary capitalism and for developing new forms of political mobilization. Interested in an emerging "politics of distribution," Ferguson shows how new demands for direct income payments (including so-called "basic income") require us to reexamine the relation between production and distribution, and to ask new questions about markets, livelihoods, labor, and the future of progressive politics.

    It counters conventional wisdom with an eighty-year revisionist history of how the American state—especially the Federal Reserve—has fallen prey to the politics of crony capitalism and the ideologies of fiscal stimulus, monetary central planning, and financial bailouts. These forces have left the public sector teetering on the edge of political dysfunction and fiscal collapse and have caused America's private enterprise foundation to morph into a speculative casino that swindles the masses and enriches the few.Defying right- and left-wing boxes, David Stockman provides a catalogue of corrupters and defenders of sound money, fiscal rectitude, and free markets. The former includes Franklin Roosevelt, who fathered crony capitalism; Richard Nixon, who destroyed national financial discipline and the Bretton Woods gold-backed dollar; Fed chairmen Greenspan and Bernanke, who fostered our present scourge of bubble finance and addiction to debt and speculation; George W. Bush, who repudiated fiscal rectitude and ballooned the warfare state via senseless wars; and Barack Obama, who revived failed Keynesian “borrow and spend” policies that have driven the national debt to perilous heights. By contrast, the book also traces a parade of statesmen who championed balanced budgets and financial market discipline including Carter Glass, Harry Truman, Dwight Eisenhower, Bill Simon, Paul Volcker, Bill Clinton, and Sheila Bair.Stockman's analysis skewers Keynesian spenders and GOP tax-cutters alike, showing how they converged to bloat the welfare state, perpetuate the military-industrial complex, and deplete the revenue base—even as the Fed's massive money printing allowed politicians to enjoy “deficits without tears.” But these policies have also fueled new financial bubbles and favored Wall Street with cheap money and rigged stock and bond markets, while crushing Main Street savers and punishing family budgets with soaring food and energy costs. The Great Deformation explains how we got here and why these warped, crony capitalist policies are an epochal threat to free market prosperity and American political democracy.

    The book brings to life the people and ideas that forged modern finance and investing, from the formative days of Wall Street through the Great Depression and into the financial calamity of today. It's a tale that features professors who made and lost fortunes, battled fiercely over ideas, beat the house in blackjack, wrote bestselling books, and played major roles on the world stage. It's also a tale of Wall Street's evolution, the power of the market to generate wealth and wreak havoc, and free market capitalism's war with itself.The efficient market hypothesis--long part of academic folklore but codified in the 1960s at the University of Chicago--has evolved into a powerful myth. It has been the maker and loser of fortunes, the driver of trillions of dollars, the inspiration for index funds and vast new derivatives markets, and the guidepost for thousands of careers. The theory holds that the market is always right, and that the decisions of millions of rational investors, all acting on information to outsmart one another, always provide the best judge of a stock's value. That myth is crumbling.Celebrated journalist and columnist Fox introduces a new wave of economists and scholars who no longer teach that investors are rational or that the markets are always right. Many of them now agree with Yale professor Robert Shiller that the efficient markets theory "represents one of the most remarkable errors in the history of economic thought." Today the theory has given way to counterintuitive hypotheses about human behavior, psychological models of decision making, and the irrationality of the markets. Investors overreact, underreact, and make irrational decisions based on imperfect data. In his landmark treatment of the history of the world's markets, Fox uncovers the new ideas that may come to drive the market in the century ahead.

    They're burning through cash, sales have stalled, and investors are nowhere to be found. Welcome to the reality of the new tech boom. Sure, it has produced its glittering share of billion-dollar "exits." But for the vast majority of startups life is nasty, brutish, and short on glamour. NO EXIT explores the feverish world of company founders who are desperately trying to keep their dream afloat. It’s a harrowing and hilarious look at the Silicon Valley no one sees. This is an extended version of a story that appears in the May 2014 issue of WIRED magazine.

    In it, she summarizes her view of philosophy and deals with a broad spectrum of topics. According to Ayn Rand, the choice we make is not whether to have a philosophy, but which one to have: rational, conscious, and therefore practical; or contradictory, unidentified, and ultimately lethal. Written with all the clarity and eloquence that have placed Ayn Rand's Objectivist philosophy in the mainstream of American thought, these essays range over such basic issues as education, morality, censorship, and inflation to prove that philosophy is the fundamental force in all our lives.

    This experience profoundly shaped his professional interests, and in 1988 he arrived in the United States, armed with a political passion and the belief that economists should not merely interpret the world, but should change it for the better.In A Capitalism for the People, Zingales makes a forceful, philosophical, and at times personal argument that the roots of American capitalism are dying, and that the result is a drift toward the more corrupt systems found throughout Europe and much of the rest of the world. American capitalism, according to Zingales, grew in a unique incubator that provided it with a distinct flavor of competitiveness, a meritocratic nature that fostered trust in markets and a faith in mobility. Lately, however, that trust has been eroded by a betrayal of our pro-business elites, whose lobbying has come to dictate the market rather than be subject to it, and this betrayal has taken place with the complicity of our intellectual class.Because of this trend, much of the country is questioning—often with great anger—whether the system that has for so long buoyed their hopes has now betrayed them once and for all. What we are left with is either anti-market pitchfork populism or pro-business technocratic insularity. Neither of these options presents a way to preserve what the author calls the "lighthouse” of American capitalism. Zingales argues that the way forward is pro-market populism, a fostering of truly free and open competition for the good of the people—not for the good of big business.Drawing on the historical record of American populism at the turn of the twentieth century, Zingales illustrates how our current circumstances aren’t all that different. People in the middle and at the bottom are getting squeezed, while people at the top are only growing richer. The solutions now, as then, are reforms to economic policy that level the playing field. Reforms that may be anti-business (specifically anti-big business), but are squarely pro-market. The question is whether we can once again muster the courage to confront the powers that be.

    In Phishing for Phools, Nobel Prize-winning economists George Akerlof and Robert Shiller deliver a fundamental challenge to this insight, arguing that markets harm as well as help us. As long as there is profit to be made, sellers will systematically exploit our psychological weaknesses and our ignorance through manipulation and deception. Rather than being essentially benign and always creating the greater good, markets are inherently filled with tricks and traps and will phish us as phools.Phishing for Phools therefore strikes a radically new direction in economics, based on the intuitive idea that markets both give and take away. Akerlof and Shiller bring this idea to life through dozens of stories that show how phishing affects everyone, in almost every walk of life. We spend our money up to the limit, and then worry about how to pay the next month's bills. The financial system soars, then crashes. We are attracted, more than we know, by advertising. Our political system is distorted by money. We pay too much for gym memberships, cars, houses, and credit cards. Drug companies ingeniously market pharmaceuticals that do us little good, and sometimes are downright dangerous.Phishing for Phools explores the central role of manipulation and deception in fascinating detail in each of these areas and many more. It thereby explains a paradox: why, at a time when we are better off than ever before in history, all too many of us are leading lives of quiet desperation. At the same time, the book tells stories of individuals who have stood against economic trickery--and how it can be reduced through greater knowledge, reform, and regulation.

    Instead of going where other journalists have gone in search of this story--the board rooms and trading floors of the big Wall Street firms--Scheer goes back to Washington, D.C., a veritable crime scene, beginning in the 1980s, where the captains of the finance industry, their lobbyists and allies among leading politicians destroyed an American regulatory system that had been functioning effectively since the era of the New Deal. This is a story largely forgotten or overlooked by the mainstream media, who wasted more than two decades with their boosterish coverage of Wall Street. Scheer argues that the roots of the disaster go back to the free-market propaganda of the Reagan years and, most damagingly, to the bipartisan deregulation of the banking industry undertaken with the full support of -progressive- Bill Clinton. In fact, if this debacle has a name, Scheer suggests, it is the -Clinton Bubble, - that era when the administration let its friends on Wall Street write legislation that razed decades of robust financial regulation. It was Wall Street and Democratic Party darling Robert Rubin along with his clique of economist super-friends--Alan Greenspan, Lawrence Summers, and a few others--who inflated a giant real estate bubble by purposely not regulating the derivatives market, resulting in the pain and hardship millions are experiencing now. The Great American Stickup is both a brilliant telling of the story of the Clinton financial clique and the havoc it wrought--informed by whistleblowers such as Brooksley Born, who goes on the record for Scheer--and an unsparing anatomy of the American business and political class. It is also a cautionary tale: those who form the nucleus of the Clinton clique are now advising the Obama administration.

    The bull market of the 1990's came to a close, ushering in the end of the dot com boom, a record number of mergers occurred, and accounting scandals in companies like Enron and WorldCom shook the financial industry to its core. In this wide-ranging volume, financial historian Charles Geisst provides the first history of Wall Street, explaining how a small, concentrated pocket of lower Manhattan came to have such enormous influence in national and world affairs. In this updated edition, Geisst sums up the recent turbulence that has threatened America's financial industry. He shows how in 1997 thirty NASDAQ market makers paid a record $1.3 billion fine for price irregularities in stocks. He makes sense of the closing of the bull market, and explains a major change in the accounting rules for mergers that caused monumental losses for companies like AOL Time Warner. And he recounts how in the aftermath of the speculative fever that swept Wall Street in the 1990's, the scandals at Enron, Tyco, Worldcom, and Conseco represent a last gasp of mergermania and a fallout from a bubble-like market. Wall Street is at once the story of the street itself, from the days when the wall was merely a defensive barricade built by Peter Stuyvesant, to the modern billion-dollar computer-driven colossus of today. In a broader sense it is an engaging economic history of the United States, the role Wall Street played in making America the most powerful economy in the world, and the many challenges to that role it has faced in recent years.

    But in Cents and Sensibility, an eminent literary critic and a leading economist make the case that the humanities, especially the study of literature, offer economists ways to make their models more realistic, their predictions more accurate, and their policies more effective and just.Gary Saul Morson and Morton Schapiro trace the connection between Adam Smith's great classic, The Wealth of Nations, and his less celebrated book on The Theory of Moral Sentiments, and contend that a few decades later Jane Austen invented her groundbreaking method of novelistic narration in order to give life to the empathy that Smith believed essential to humanity.Morson and Schapiro argue that Smith's heirs include Austen, Anton Chekhov, and Leo Tolstoy as well as John Maynard Keynes and Milton Friedman. Economists need a richer appreciation of behavior, ethics, culture, and narrative--all of which the great writers teach better than anyone.Cents and Sensibility demonstrates the benefits of a freewheeling dialogue between economics and the humanities by addressing a wide range of problems drawn from the economics of higher education, the economics of the family, and the development of poor nations. It offers new insights about everything from the manipulation of college rankings to why some countries grow faster than others. At the same time, the book shows how looking at real-world problems can revitalize the study of literature itself.Original, provocative, and inspiring, Cents and Sensibility brings economics back to its place in the human conversation.

    Over the past three decades, a fringe group of economic hucksters has corrupted and perverted our nation’s policies. With dark, engaging wit, Jonathan Chait reveals how these canny zealots first took over the Republican Party and then gamed the political system and the media so that once unthinkable policies -- without a shred of academic, expert, or even popular support -- now drive the political agenda, regardless of which party is in power. Why have these ideas succeeded in Washington? How did a clique of extremists gain control of American economic policy and sell short the country’s future? And why do their outlandish ideas still determine policy despite repeated electoral setbacks? Chait tells the outrageous and eye-opening story, expertly explaining just how politics and economics work in Washington. Through vivid portraits of venal politicians and pseudo-economists, with wry analyses of their bogus theories, Chait gives us the tools to understand what’s really behind economic policy debates in Washington: a riveting drama of greed and deceit.

    We need to remember that sustained economic success is a rare phenomenon.As an era of easy money and easy growth comes to a close, China in particular will cool down. Other major players including Brazil, Russia, and India face their own daunting challenges and inflated expectations. The new "breakout nations" will probably spring from the margins, even from the shadows. Ruchir Sharma, one of the world’s largest investors in emerging markets for Morgan Stanley, here identifies which are most likely to leap ahead and why.After two decades spent traveling the globe tracking the progress of developing countries, Sharma has produced a book full of surprises: why the overpriced cocktails in Rio are a sign of revival in Detroit; how the threat of the "population bomb" came to be seen as a competitive advantage; how an industrial revolution in Asia is redefining what manufacturing can do for a modern economy; and how the coming shakeout in the big emerging markets could shift the spotlight back to the West, especially American technology and German manufacturing.What emerges is a clear picture of the shifting balance of global economic power and how it plays out for emerging nations and for the West. In a captivating exploration studded with vignettes, Sharma reveals his rules on how to spot economic success stories. Breakout Nations is a rollicking education for anyone looking to understand where the future will happen.

    Unlike other leading abolitionists, however, Douglass embraced the U.S. Constitution, insisting that it was an essentially anti-slavery document and that its guarantees for individual rights belonged to all Americans, of whatever race. As the nation pauses to remember Douglass on his bicentennial, Frederick Douglass: Self-Made Man gives us an insightful glimpse into the mind of one of America’s greatest thinkers.