In this incisive and controversial book, Chalmers Johnson lays out in vivid detail the dangers faced by our overextended empire, which insists on projecting its military power to every corner of the earth and using American capital and markets to force global economic integration on its own terms. From a case of rape by U.S. servicemen in Okinawa to our role in Asia's financial crisis, from our early support for Saddam Hussein to our conduct in the Balkans, Johnson reveals the ways in which our misguided policies are planting the seeds of future disaster.In a new edition that addresses recent international events from September 11 to the war in Iraq, this now classic book remains as prescient and powerful as ever.

    When a scholar as careful and learned as Mr. Kennedy is prompted by contemporary issues to reexamine the great processes of the past, the result can only be an enhancement of our historical understanding.... When the study is written as simply and attractively as this work is, its publication may have a great and beneficient impact. It is to be hoped that Mr. Kennedy's will have one, at a potentially decisive moment in America's history."Michael Howard, The New York Times Book Review"Important, learned, and lucid... Paul Kennedy's great achievement is that he makes us see our current international problems against a background of empires that have gone under because they were unaible to sustain the material cost of greatness; and he does so in a universal historical perspective of which Ranke would surely have approved."James Joll, The New York Review of Books"His strategic-economic approach provides him with the context for a shapely narrative....Professor Kennedy not only exploits his framework eloquently, he also makes use of it to dig deeper and explore the historical contexts in which some 'power centers' prospered....But the most commanding purpose of his project...is the lesson he draws from 15 centuries of statecraft to apply to the present scene....[The book's] final section is for everyone concerned with the contemporary political scene."Christopher Lehmann-Haupt, The New York Times"Kennedy gives epic meaning to the nation's relative economic and industrial decline." Newsweek

    . . European nations at risk of defaulting on their loans . . . A possible global financial crisis. It happened before, in the 1970s . Oil Kings is the story of how oil came to dominate U.S. domestic and international affairs. As Richard Nixon fought off Watergate inquiries in 1973, the U.S. economy reacted to an oil shortage initiated by Arab nations in retaliation for American support of Israel in the Arab- Israeli war. The price of oil skyrocketed, causing serious inflation. One man the U.S. could rely on in the Middle East was the Shah of Iran, a loyal ally whose grand ambitions had made him a leading customer for American weapons. Iran sold the U.S. oil; the U.S. sold Iran missiles and fighter jets. But the Shah’s economy depended almost entirely on oil, and the U.S. economy could not tolerate annual double-digit increases in the price of this essential commodity. European economies were hit even harder by the soaring oil prices, and several NATO allies were at risk of default on their debt. In 1976, with the U.S. economy in peril, President Gerald Ford, locked in a tight election race, decided he had to find a country that would sell oil to the U.S. more cheaply and break the OPEC monopoly, which the Shah refused to do. On the advice of Treasury Secretary William Simon and against the advice of Secretary of State Henry Kissinger, Ford made a deal to sell advanced weaponry to the Saudis in exchange for a modest price hike on oil. Ford lost the election, but the deal had lasting consequences. The Shah’s economy was destabilized, and disaffected elements in Iran mobilized to overthrow him. The U.S. had embarked on a long relationship with the autocratic Saudi kingdom that continues to this day. Andrew Scott Cooper draws on newly declassified documents and interviews with some key figures of the time to show how Nixon, Ford, Kissinger, the CIA, and the State and Treasury departments—as well as the Shah and the Saudi royal family— maneuvered to control events in the Middle East. He details the secret U.S.-Saudi plan to circumvent OPEC that destabilized the Shah. He reveals how close the U.S. came to sending troops into the Persian Gulf to break the Arab oil embargo. The Oil Kings provides solid evidence that U.S. officials ignored warning signs of a potential hostage crisis in Iran. It discloses that U.S. officials offered to sell nuclear power and nuclear fuel to the Shah. And it shows how the Ford Administration barely averted a European debt crisis that could have triggered a financial catastrophe in the U.S. Brilliantly reported and filled with astonishing details about some of the key figures of the time, The Oil Kings is the history of an era that we thought we knew, an era whose momentous reverberations still influence events at home and abroad today.

    Many claim, however, that a safer banking system would require sacrificing lending and economic growth. The Bankers' New Clothes examines this claim and the narratives used by bankers, politicians, and regulators to rationalize the lack of reform, exposing them as invalid.Admati and Hellwig argue we can have a safer and healthier banking system without sacrificing any of the benefits of the system, and at essentially no cost to society. They show that banks are as fragile as they are not because they must be, but because they want to be--and they get away with it. Whereas this situation benefits bankers, it distorts the economy and exposes the public to unnecessary risks. Weak regulation and ineffective enforcement allowed the buildup of risks that ushered in the financial crisis of 2007-2009. Much can be done to create a better system and prevent crises. Yet the lessons from the crisis have not been learned.Admati and Hellwig seek to engage the broader public in the debate by cutting through the jargon of banking, clearing the fog of confusion, and presenting the issues in simple and accessible terms. The Bankers' New Clothes calls for ambitious reform and outlines specific and highly beneficial steps that can be taken immediately.

    Beginning with a meeting with Christopher Steele, the man behind the shattering dossier that first brought the allegations to light, Harding probes the histories of key Russian and American players with striking clarity and insight. In a thrilling, fast-paced narrative, Harding exposes the disquieting details of the “Trump-Russia” story—a saga so huge it involves international espionage, off-shore banks, sketchy real estate deals, mobsters, money laundering, disappeared dissidents, computer hacking, and the most shocking election in American history.

    Moving from a sweeping overview of history to blow-by-blow accounts of his negotiations with world leaders, Henry Kissinger describes how the art of diplomacy has created the world in which we live, and how America’s approach to foreign affairs has always differed vastly from that of other nations. Brilliant, controversial, and profoundly incisive, Diplomacy stands as the culmination of a lifetime of diplomatic service and scholarship. It is vital reading for anyone concerned with the forces that have shaped our world today and will impact upon it tomorrow.

    Written in a direct, inviting way by Harry Braverman, whose years as an industrial worker gave him rich personal insight into work, Labor and Monopoly Capital overturned the reigning ideologies of academic sociology.This new edition features an introduction by John Bellamy Foster that sets the work in historical and theoretical context, as well as two rare articles by Braverman, The Degradation of Work in the Twentieth Century (1975) and Two Comments (1976), that add much to our understanding of the book.

    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.

    How did this marvel of self-organized complexity evolve? How is wealth created within this system? And how can wealth be increased for the benefit of individuals, businesses, and society? In The Origin of Wealth, Eric D. Beinhocker argues that modern science provides a radical perspective on these age-old questions, with far-reaching implications. According to Beinhocker, wealth creation is the product of a simple but profoundly powerful evolutionary formula: differentiate, select, and amplify. In this view, the economy is a "complex adaptive system" in which physical technologies, social technologies, and business designs continuously interact to create novel products, new ideas, and increasing wealth. Taking readers on an entertaining journey through economic history, from the Stone Age to modern economy, Beinhocker explores how "complexity economics" provides provocative insights on issues ranging from creating adaptive organizations to the evolutionary workings of stock markets to new perspectives on government policies. A landmark book that shatters conventional economic theory, The Origin of Wealth will rewire our thinking about how we came to be here—and where we are going.

    And the CEO would oblige, no questions asked, because it was his patriotic duty.   In Freedom’s Forge, bestselling author Arthur Herman takes us back to that time, revealing how two extraordinary American businessmen—automobile magnate William Knudsen and shipbuilder Henry J. Kaiser—helped corral, cajole, and inspire business leaders across the country to mobilize the “arsenal of democracy” that propelled the Allies to victory in World War II.   “Knudsen? I want to see you in Washington. I want you to work on some production matters.” With those words, President Franklin D. Roosevelt enlisted “Big Bill” Knudsen, a Danish immigrant who had risen through the ranks of the auto industry to become president of General Motors, to drop his plans for market domination and join the U.S. Army. Commissioned a lieutenant general, Knudsen assembled a crack team of industrial innovators, persuading them one by one to leave their lucrative private sector positions and join him in Washington, D.C. Dubbed the “dollar-a-year men,” these dedicated patriots quickly took charge of America’s moribund war production effort.   Henry J. Kaiser was a maverick California industrialist famed for his innovative business techniques and his can-do management style. He, too, joined the cause. His Liberty ships became World War II icons—and the Kaiser name became so admired that FDR briefly considered making him his vice president in 1944. Together, Knudsen and Kaiser created a wartime production behemoth. Drafting top talent from companies like Chrysler, Republic Steel, Boeing, Lockheed, GE, and Frigidaire, they turned auto plants into aircraft factories and civilian assembly lines into fountains of munitions, giving Americans fighting in Europe and Asia the tools they needed to defeat the Axis. In four short years they transformed America’s army from a hollow shell into a truly global force, laying the foundations for a new industrial America—and for the country’s rise as an economic as well as military superpower.   Featuring behind-the-scenes portraits of FDR, George Marshall, Henry Stimson, Harry Hopkins, Jimmy Doolittle, and Curtis LeMay, as well as scores of largely forgotten heroes and heroines of the wartime industrial effort, Freedom’s Forge is the American story writ large. It vividly re-creates American industry’s finest hour, when the nation’s business elites put aside their pursuit of profits and set about saving the world.

    Today it is damaged, discouraged, and fighting for its future. In Glass House, journalist Brian Alexander uses the story of one town to show how seeds sown 35 years ago have sprouted to give us Trumpism, inequality, and an eroding national cohesion.The Anchor Hocking Glass Company, once the world’s largest maker of glass tableware, was the base on which Lancaster’s society was built. As Glass House unfolds, bankruptcy looms. With access to the company and its leaders, and Lancaster’s citizens, Alexander shows how financial engineering took hold in the 1980s, accelerated in the 21st Century, and wrecked the company. We follow CEO Sam Solomon as he tries to rescue the company from the New York private equity firm that hired him. Meanwhile, Alexander goes behind the scenes, entwined with the lives of residents as they wrestle with heroin, politics, high-interest lenders, low wage jobs, technology, and the new demands of American life: people like Brian Gossett, the fourth generation to work at Anchor Hocking; Joe Piccolo, first-time director of the annual music festival who discovers the town relies on him, and it, for salvation; Jason Roach, who police believed may have been Lancaster’s biggest drug dealer; and Eric Brown, a local football hero-turned-cop who comes to realize that he can never arrest Lancaster’s real problems.

    None of these factors is either definitive or destiny. Otherwise, how to explain why Botswana has become one of the fastest growing countries in the world, while other African nations, such as Zimbabwe, the Congo, and Sierra Leone, are mired in poverty and violence? Daron Acemoglu and James Robinson conclusively show that it is man-made political and economic institutions that underlie economic success (or lack of it). Korea, to take just one of their fascinating examples, is a remarkably homogeneous nation, yet the people of North Korea are among the poorest on earth while their brothers and sisters in South Korea are among the richest. The south forged a society that created incentives, rewarded innovation, and allowed everyone to participate in economic opportunities. The economic success thus spurred was sustained because the government became accountable and responsive to citizens and the great mass of people. Sadly, the people of the north have endured decades of famine, political repression, and very different economic institutions—with no end in sight. The differences between the Koreas is due to the politics that created these completely different institutional trajectories. Based on fifteen years of original research Acemoglu and Robinson marshall extraordinary historical evidence from the Roman Empire, the Mayan city-states, medieval Venice, the Soviet Union, Latin America, England, Europe, the United States, and Africa to build a new theory of political economy with great relevance for the big questions of today, including:    - China has built an authoritarian growth machine. Will it continue to grow at such high speed and overwhelm the West?    - Are America’s best days behind it? Are we moving from a virtuous circle in which efforts by elites to aggrandize power are resisted to a vicious one that enriches and empowers a small minority?    - What is the most effective way to help move billions of people from the rut of poverty to prosperity? More philanthropy from the wealthy nations of the West? Or learning the hard-won lessons of Acemoglu and Robinson’s breakthrough ideas on the interplay between inclusive political and economic institutions? Why Nations Fail will change the way you look at—and understand—the world.

    While stories of newly built but empty cities, white elephant state projects, and a byzantine shadow banking system, have all become a regular fixture in the press in recent years, McMahon goes beyond the headlines to explain how such waste has been allowed to flourish, and why one of the most powerful governments in the world has been at a loss to stop it.Through the stories of ordinary Chinese citizens, McMahon tries to make sense of the unique--and often bizarre--mechanics of the Chinese economy, whether it be the state's addiction to appropriating land from poor farmers; or why a Chinese entrepreneur decided it was cheaper to move his yarn factory to South Carolina; or why ambitious Chinese mayors build ghost cities; or why the Chinese bureaucracy was able to stare down Beijing's attempts to break up the state's pointless monopoly over the distribution of table salt.Debt, entrenched vested interests, a frenzy of speculation, and an aging population are all pushing China toward an economic reckoning. China's Great Wall of Debt unravels an incredibly complex and opaque economy, one whose fortunes--for better or worse--will shape the globe like never before.

    More than four million homes were lost to foreclosures. Is it a coincidence that the United States witnessed a dramatic rise in household debt in the years before the recession—that the total amount of debt for American households doubled between 2000 and 2007 to $14 trillion? Definitely not. Armed with clear and powerful evidence, Atif Mian and Amir Sufi reveal in House of Debt how the Great Recession and Great Depression, as well as the current economic malaise in Europe, were caused by a large run-up in household debt followed by a significantly large drop in household spending. Though the banking crisis captured the public’s attention, Mian and Sufi argue strongly with actual data that current policy is too heavily biased toward protecting banks and creditors. Increasing the flow of credit, they show, is disastrously counterproductive when the fundamental problem is too much debt. As their research shows, excessive household debt leads to foreclosures, causing individuals to spend less and save more. Less spending means less demand for goods, followed by declines in production and huge job losses. How do we end such a cycle? With a direct attack on debt, say Mian and Sufi.  More aggressive debt forgiveness after the crash helps, but as they illustrate, we can be rid of painful bubble-and-bust episodes only if the financial system moves away from its reliance on inflexible debt contracts. As an example, they propose new mortgage contracts that are built on the principle of risk-sharing, a concept that would have prevented the housing bubble from emerging in the first place. Thoroughly grounded in compelling economic evidence, House of Debt offers convincing answers to some of the most important questions facing the modern economy today: Why do severe recessions happen? Could we have prevented the Great Recession and its consequences? And what actions are needed to prevent such crises going forward?

    This broad understanding of political corruption--rooted in ideals of civic virtue--was a driving force at the Constitutional Convention.For two centuries the framers' ideas about corruption flourished in the courts, even in the absence of clear rules governing voters, civil officers, and elected officials. Should a law that was passed by a state legislature be overturned because half of its members were bribed? What kinds of lobbying activity were corrupt, and what kinds were legal? When does an implicit promise count as bribery? In the 1970s the U.S. Supreme Court began to narrow the definition of corruption, and the meaning has since changed dramatically. No case makes that clearer than Citizens United.In 2010, one of the most consequential Court decisions in American political history gave wealthy corporations the right to spend unlimited money to influence elections. Justice Anthony Kennedy's majority opinion treated corruption as nothing more than explicit bribery, a narrow conception later echoed by Chief Justice Roberts in deciding McCutcheon v. FEC in 2014. With unlimited spending transforming American politics for the worse, warns Zephyr Teachout, Citizens United and McCutcheon were not just bad law but bad history. If the American experiment in self-government is to have a future, then we must revive the traditional meaning of corruption and embrace an old ideal.