Book picks similar to
Transaction Man: The Rise of the Deal and the Decline of the American Dream by Nicholas Lemann
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business
economics
nonfiction
Dark Money: The Hidden History of the Billionaires Behind the Rise of the Radical Right
Jane Mayer - 2016
But as Jane Mayer shows in this powerful, meticulously reported history, a network of exceedingly wealthy people with extreme libertarian views bankrolled a systematic, step-by-step plan to fundamentally alter the American political system.The network has brought together some of the richest people on the planet. Their core beliefs—that taxes are a form of tyranny; that government oversight of business is an assault on freedom—are sincerely held. But these beliefs also advance their personal and corporate interests: Many of their companies have run afoul of federal pollution, worker safety, securities, and tax laws.The chief figures in the network are Charles and David Koch, whose father made his fortune in part by building oil refineries in Stalin’s Russia and Hitler’s Germany. The patriarch later was a founding member of the John Birch Society, whose politics were so radical it believed Dwight Eisenhower was a communist. The brothers were schooled in a political philosophy that asserted the only role of government is to provide security and to enforce property rights.When libertarian ideas proved decidedly unpopular with voters, the Koch brothers and their allies chose another path. If they pooled their vast resources, they could fund an interlocking array of organizations that could work in tandem to influence and ultimately control academic institutions, think tanks, the courts, statehouses, Congress, and, they hoped, the presidency. Richard Mellon Scaife, the mercurial heir to banking and oil fortunes, had the brilliant insight that most of their political activities could be written off as tax-deductible “philanthropy.”These organizations were given innocuous names such as Americans for Prosperity. Funding sources were hidden whenever possible. This process reached its apotheosis with the allegedly populist Tea Party movement, abetted mightily by the Citizens United decision—a case conceived of by legal advocates funded by the network.The political operatives the network employs are disciplined, smart, and at times ruthless. Mayer documents instances in which people affiliated with these groups hired private detectives to impugn whistle-blowers, journalists, and even government investigators. And their efforts have been remarkably successful. Libertarian views on taxes and regulation, once far outside the mainstream and still rejected by most Americans, are ascendant in the majority of state governments, the Supreme Court, and Congress. Meaningful environmental, labor, finance, and tax reforms have been stymied.Jane Mayer spent five years conducting hundreds of interviews-including with several sources within the network-and scoured public records, private papers, and court proceedings in reporting this book. In a taut and utterly convincing narrative, she traces the byzantine trail of the billions of dollars spent by the network and provides vivid portraits of the colorful figures behind the new American oligarchy.Dark Money is a book that must be read by anyone who cares about the future of American democracy.
Democracy in Chains: The Deep History of the Radical Right's Stealth Plan for America
Nancy MacLean - 2017
The capitalist radical right has been working not simply to change who rules, but to fundamentally alter the rules of democratic governance. But billionaires did not launch this movement; a white intellectual in the embattled Jim Crow South did. Democracy in Chains names its true architect—the Nobel Prize-winning political economist James McGill Buchanan—and dissects the operation he and his colleagues designed over six decades to alter every branch of government to disempower the majority.In a brilliant and engrossing narrative, Nancy MacLean shows how Buchanan forged his ideas about government in a last gasp attempt to preserve the white elite’s power in the wake of Brown v. Board of Education. In response to the widening of American democracy, he developed a brilliant, if diabolical, plan to undermine the ability of the majority to use its numbers to level the playing field between the rich and powerful and the rest of us. Corporate donors and their right-wing foundations were only too eager to support Buchanan’s work in teaching others how to divide America into “makers” and “takers.” And when a multibillionaire on a messianic mission to rewrite the social contract of the modern world, Charles Koch, discovered Buchanan, he created a vast, relentless, and multi-armed machine to carry out Buchanan’s strategy. Without Buchanan's ideas and Koch's money, the libertarian right would not have succeeded in its stealth takeover of the Republican Party as a delivery mechanism. Now, with Mike Pence as Vice President, the cause has a longtime loyalist in the White House, not to mention a phalanx of Republicans in the House, the Senate, a majority of state governments, and the courts, all carrying out the plan. That plan includes harsher laws to undermine unions, privatizing everything from schools to health care and Social Security, and keeping as many of us as possible from voting. Based on ten years of unique research, Democracy in Chains tells a chilling story of right-wing academics and big money run amok. This revelatory work of scholarship is also a call to arms to protect the achievements of twentieth-century American self-government.
The Divide: American Injustice in the Age of the Wealth Gap
Matt Taibbi - 2014
Crime goes down. The prison population doubles. Fraud by the rich wipes out 40 percent of the world's wealth. The rich get massively richer. No one goes to jail.In search of a solution, journalist Matt Taibbi discovered the Divide, the seam in American life where our two most troubling trends--growing wealth inequality and mass incarceration--come together, driven by a dramatic shift in American citizenship: Our basic rights are now determined by our wealth or poverty. The Divide is what allows massively destructive fraud by the hyperwealthy to go unpunished, while turning poverty itself into a crime--but it's impossible to see until you look at these two alarming trends side by side.
Americana: A 400-Year History of American Capitalism
Bhu Srinivasan - 2017
Americana takes us on a four-hundred-year journey of this spirit of innovation and ambition through a series of Next Big Things -- the inventions, techniques, and industries that drove American history forward: from the telegraph, the railroad, guns, radio, and banking to flight, suburbia, and sneakers, culminating with the Internet and mobile technology at the turn of the twenty-first century. The result is a thrilling alternative history of modern America that reframes events, trends, and people we thought we knew through the prism of the value that, for better or for worse, this nation holds dearest: capitalism.In a winning, accessible style, Bhu Srinivasan boldly takes on four centuries of American enterprise, revealing the unexpected connections that link them. We learn how Andrew Carnegie's early job as a telegraph messenger boy paved the way for his leadership of the steel empire that would make him one of the nation's richest men; how the gunmaker Remington reinvented itself in the postwar years to sell typewriters; how the inner workings of the Mafia mirrored the trend of consolidation and regulation in more traditional business; and how a 1950s infrastructure bill triggered a series of events that produced one of America's most enduring brands: KFC. Reliving the heady early days of Silicon Valley, we are reminded that the start-up is an idea as old as America itself.Entertaining, eye-opening, and sweeping in its reach, Americana is an exhilarating new work of narrative history.
America's Bitter Pill: Money, Politics, Backroom Deals, and the Fight to Fix Our Broken Healthcare System
Steven Brill - 2015
It’s a fly-on-the-wall account of the titanic fight to pass a 961-page law aimed at fixing America’s largest, most dysfunctional industry. It’s a penetrating chronicle of how the profiteering that Brill first identified in his trailblazing Time magazine cover story continues, despite Obamacare. And it is the first complete, inside account of how President Obama persevered to push through the law, but then failed to deal with the staff incompetence and turf wars that crippled its implementation. But by chance America’s Bitter Pill ends up being much more—because as Brill was completing this book, he had to undergo urgent open-heart surgery. Thus, this also becomes the story of how one patient who thinks he knows everything about healthcare “policy” rethinks it from a hospital gurney—and combines that insight with his brilliant reporting. The result: a surprising new vision of how we can fix American healthcare so that it stops draining the bank accounts of our families and our businesses, and the federal treasury. Praise for America’s Bitter Pill
“A tour de force . . . a comprehensive and suitably furious guide to the political landscape of American healthcare . . . persuasive, shocking.”—The New York Times “An energetic, picaresque, narrative explanation of much of what has happened in the last seven years of health policy . . . [Brill] has pulled off something extraordinary.”
—The New York Times Book Review
“A thunderous indictment of what Brill refers to as the ‘toxicity of our profiteer-dominated healthcare system.’ ”—Los Angeles Times “A sweeping and spirited new book [that] chronicles the surprisingly juicy tale of reform.”—The Daily Beast “One of the most important books of our time.”—Walter Isaacson “Superb . . . Brill has achieved the seemingly impossible—written an exciting book about the American health system.”—The New York Review of Books
Saving Capitalism: For the Many, Not the Few
Robert B. Reich - 2004
Reich, and now he reveals the cycles of power and influence that have perpetuated a new American oligarchy, a shrinking middle class, and the greatest income inequality and wealth disparity in eighty years. He makes clear how centrally problematic our veneration of the "free market" is, and how it has masked the power of the moneyed interests to tilt the market to their benefit. He exposes the falsehoods that have been bolstered by the corruption of our democracy by big corporations and the revolving door between Washington and Wall Street-- that all workers are paid what they're "worth," a higher minimum wage equals fewer jobs, corporations must serve shareholders before employees. Ever the pragmatist, Reich sees hope for reversing our slide toward inequality and diminished opportunity by shoring up the countervailing power of everyone else. Here is a revelatory indictment of our economic status quo and an empowering call to civic action.
Twilight of the Elites: America After Meritocracy
Christopher L. Hayes - 2012
In the wake of the Fail Decade, Americans have historically low levels of trust in their institutions; the social contract between ordinary citizens and elites lies in tatters.How did we get here? With Twilight of the Elites, Christopher Hayes offers a radically novel answer. Since the 1960s, as the meritocracy elevated a more diverse group of men and women into power, they learned to embrace the accelerating inequality that had placed them near the very top. Their ascension heightened social distance and spawned a new American elite--one more prone to failure and corruption than any that came before it.Mixing deft political analysis, timely social commentary, and deep historical understanding, Twilight of the Elites describes how the society we have come to inhabit – utterly forgiving at the top and relentlessly punitive at the bottom – produces leaders who are out of touch with the people they have been trusted to govern. Hayes argues that the public's failure to trust the federal government, corporate America, and the media has led to a crisis of authority that threatens to engulf not just our politics but our day-to-day lives.Upending well-worn ideological and partisan categories, Hayes entirely reorients our perspective on our times. Twilight of the Elites is the defining work of social criticism for the post-bailout age.
Supreme Inequality: The Supreme Court's Fifty-Year Battle for a More Unjust America
Adam Cohen - 2020
But when Warren announced his retirement in 1968, newly elected President Richard Nixon, who had been working tirelessly behind the scenes to put a stop to what he perceived as the Court's liberal agenda, had his new administration launch a total assault on the Warren Court's egalitarian victories, moving to dismantle its legacy and replace liberal justices with others more loyal to his views. During his six years in office, he appointed four justices to the Supreme Court, thereby setting its course for the next fifty years.In Supreme Inequality, Adam Cohen surveys the most significant Supreme Court rulings since Nixon and exposes how rarely the Court has veered away from a pro-corporate agenda. Contrary to what Americans might like to believe, the Court does not protect equally the rights of the poor and disadvantaged, and, in fact, hasn't for decades. Many of the greatest successes of the Warren Court, such as school desegregation, labor unions, voting rights, and class action suits, have been abandoned in favor of rulings that protect privileged Americans who tend to be white, wealthy, and powerful.As the nation comes to grips with two newly Trump-appointed justices, Cohen proves beyond doubt that the trajectory of today's Court is the result of decisions made fifty years ago, decisions that have contributed directly and grievously to our nation's soaring inequality. An triumph of American legal, political, and social history, Supreme Inequality holds to account the highest court in the land, and should shake to its core any optimistic faith we might have in it to provide checks and balances.
Deaths of Despair and the Future of Capitalism
Anne Case - 2020
In the past two decades, deaths of despair from suicide, drug overdose, and alcoholism have risen dramatically, and now claim hundreds of thousands of American lives each year--and they're still rising. Anne Case and Angus Deaton, known for first sounding the alarm about deaths of despair, explain the overwhelming surge in these deaths and shed light on the social and economic forces that are making life harder for the working class. They demonstrate why, for those who used to prosper in America, capitalism is no longer delivering.Deaths of Despair and the Future of Capitalism paints a troubling portrait of the American dream in decline. For the white working class, today's America has become a land of broken families and few prospects. As the college educated become healthier and wealthier, adults without a degree are literally dying from pain and despair. In this critically important book, Case and Deaton tie the crisis to the weakening position of labor, the growing power of corporations, and, above all, to a rapacious health-care sector that redistributes working-class wages into the pockets of the wealthy. Capitalism, which over two centuries lifted countless people out of poverty, is now destroying the lives of blue-collar America.This book charts a way forward, providing solutions that can rein in capitalism's excesses and make it work for everyone.
The Deficit Myth: Modern Monetary Theory and the Birth of the People's Economy
Stephanie Kelton - 2020
Any ambitious proposal, however, inevitably runs into the buzz saw of how to find the money to pay for it, rooted in myths about deficits that are hobbling us as a country.Kelton busts through the myths that prevent us from taking action: that the federal government should budget like a household, that deficits will harm the next generation, crowd out private investment, and undermine long-term growth, and that entitlements are propelling us toward a grave fiscal crisis.MMT, as Kelton shows, shifts the terrain from narrow budgetary questions to one of broader economic and social benefits. With its important new ways of understanding money, taxes, and the critical role of deficit spending, MMT redefines how to responsibly use our resources so that we can maximize our potential as a society. MMT gives us the power to imagine a new politics and a new economy and move from a narrative of scarcity to one of opportunity.
Janesville: An American Story
Amy Goldstein - 2017
Most observers record the immediate shock of vanished jobs, but few stay around long enough to notice what happens next, when a community with a can-do spirit tries to pick itself up.Pulitzer Prize winner Amy Goldstein has spent years immersed in Janesville, Wisconsin where the nation’s oldest operating General Motors plant shut down in the midst of the Great Recession, two days before Christmas of 2008. Now, with intelligence, sympathy, and insight into what connects and divides people in an era of economic upheaval, she makes one of America’s biggest political issues human. Her reporting takes the reader deep into the lives of autoworkers, educators, bankers, politicians, and job re-trainers to show why it’s so hard in the twenty-first century to recreate a healthy, prosperous working class. For this is not just a Janesville story or a Midwestern story. It’s an American story.
Winners Take All: The Elite Charade of Changing the World
Anand Giridharadas - 2018
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.
Private Empire: ExxonMobil and American Power
Steve Coll - 2012
ExxonMobil’s annual revenues are larger than the economic activity in the great majority of countries. In many of the countries where it conducts business, ExxonMobil’s sway over politics and security is greater than that of the United States embassy. In Washington, ExxonMobil spends more money lobbying Congress and the White House than almost any other corporation. Yet despite its outsized influence, it is a black box.Private Empire pulls back the curtain, tracking the corporation’s recent history and its central role on the world stage, beginning with the Exxon Valdez accident in 1989 and leading to the Deepwater Horizon oil spill in the Gulf of Mexico in 2010. The action spans the globe, moving from Moscow, to impoverished African capitals, Indonesia, and elsewhere in heart-stopping scenes that feature kidnapping cases, civil wars, and high-stakes struggles at the Kremlin. At home, Coll goes inside ExxonMobil’s K Street office and corporation headquarters in Irving, Texas, where top executives in the “God Pod” (as employees call it) oversee an extraordinary corporate culture of discipline and secrecy.The narrative is driven by larger than life characters, including corporate legend Lee “Iron Ass” Raymond, ExxonMobil’s chief executive until 2005. A close friend of Dick Cheney’s, Raymond was both the most successful and effective oil executive of his era and an unabashed skeptic about climate change and government regulation.. This position proved difficult to maintain in the face of new science and political change and Raymond’s successor, current ExxonMobil chief executive Rex Tillerson, broke with Raymond’s programs in an effort to reset ExxonMobil’s public image. The larger cast includes countless world leaders, plutocrats, dictators, guerrillas, and corporate scientists who are part of ExxonMobil’s colossal story.The first hard-hitting examination of ExxonMobil, Private Empire is the masterful result of Coll’s indefatigable reporting. He draws here on more than four hundred interviews; field reporting from the halls of Congress to the oil-laden swamps of the Niger Delta; more than one thousand pages of previously classified U.S. documents obtained under the Freedom of Information Act; heretofore unexamined court records; and many other sources. A penetrating, newsbreaking study, Private Empire is a defining portrait of ExxonMobil and the place of Big Oil in American politics and foreign policy.Winner of the Financial Times and Goldman Sachs Business Book of the Year Award 2012
Evil Geniuses: The Unmaking of America
Kurt Andersen - 2020
A huge, secure, and contented middle class emerged. All boats rose together. But then the New Deal gave way to the Raw Deal. Beginning in the early 1970s, by means of a long war conceived of and executed by a confederacy of big business CEOs, the superrich, and right-wing zealots, the rules and norms that made the American middle class possible were undermined and dismantled. The clock was turned back on a century of economic progress, making greed good, workers powerless, and the market all-powerful while weaponizing nostalgia, lifting up an oligarchy that served only its own interests, and leaving the huge majority of Americans with dwindling economic prospects and hope.Why and how did America take such a wrong turn? In this deeply researched and brilliantly woven cultural, economic, and political chronicle, Kurt Andersen offers a fresh, provocative, and eye-opening history of America’s undoing, naming names, showing receipts, and unsparingly assigning blame—to the radical right in economics and the law, the high priests of high finance, a complacent and complicit Establishment, and liberal “useful idiots,” among whom he includes himself.
How Markets Fail: The Logic of Economic Calamities
John Cassidy - 2009
Farrar, Straus and Giroux, 2009.