But concern over what Louis Brandeis called the "curse of bigness" can no longer remain the province of specialist lawyers and economists, for it has spilled over into policy and politics, even threatening democracy itself. History suggests that tolerance of inequality and failing to control excessive corporate power may prompt the rise of populism, nationalism, extremist politicians, and fascist regimes. In short, as Wu warns, we are in grave danger of repeating the signature errors of the twentieth century.In The Curse of Bigness, Columbia professor Tim Wu tells of how figures like Brandeis and Theodore Roosevelt first confronted the democratic threats posed by the great trusts of the Gilded Age--but the lessons of the Progressive Era were forgotten in the last 40 years. He calls for recovering the lost tenets of the trustbusting age as part of a broader revival of American progressive ideas as we confront the fallout of persistent and extreme economic inequality.

    First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as self-evident." --Arthur SchopenhauerThe Ponzi Factor is the most comprehensive research ever compiled on the negative-sum nature of capital gains (non-dividend stocks). The book shows why, as a whole, ALL investors will lose money from buying and selling stocks.Most people don’t realize that profits from buying and selling stocks come from other investors who are also buying and selling stocks. When one investor buys low and sells high, another investor is also buying high and needs to sell for even higher. Companies like Google, Telsa, Facebook never pay their investors. Their investors’ profits are dependent on the inflow of money from new investors, which by definition, is how a Ponzi scheme works.This book is not for everyone. If you are a finance junkie who wants to rationalize why companies don’t have to pay their investors and believe a system that shuffles money between investor can magically create more money than people contribute, then this book is not for you. On the other hand, if you understand why we can’t create money by shuffling it with imaginary paper, and that investors invest because they want money, not value, then you will learn something you will never forget: The mechanics of how the stock market works and what really makes a stock price move.A stock without dividends is a Ponzi asset. It’s not how equity instruments were designed to work historically and not how ownership instruments are supposed to work logically. The Ponzi Factor is not a perspective or an opinion. It is a proof that is based on definition, logic, and it is supported by observable facts and history. This is not a story that will disappear after another market crash. It is an idea that will remain relevant for as long as the stock market exists.Lastly, to critics, the naysayer, and the finance junkies who think the imaginary value = cash. The author will award $20,000 to anyone who can show why non-dividend stocks DO NOT meet the definition of a Ponzi scheme. That’s $20,000 in cash, not value. (Details on this book's website. The Ponzi Factor. Proof by Definition.)

    Why do well-intentioned plans for improving the human condition go tragically awry?In this wide-ranging and original book, James C. Scott analyzes failed cases of large-scale authoritarian plans in a variety of fields. Centrally managed social plans misfire, Scott argues, when they impose schematic visions that do violence to complex interdependencies that are not—and cannot—be fully understood. Further, the success of designs for social organization depends upon the recognition that local, practical knowledge is as important as formal, epistemic knowledge. The author builds a persuasive case against "development theory" and imperialistic state planning that disregards the values, desires, and objections of its subjects. He identifies and discusses four conditions common to all planning disasters: administrative ordering of nature and society by the state; a "high-modernist ideology" that places confidence in the ability of science to improve every aspect of human life; a willingness to use authoritarian state power to effect large- scale interventions; and a prostrate civil society that cannot effectively resist such plans.

    Wealth is just as capable of ravaging cities as poverty.

    By exploring the ecological and economic changes that made Chicago America's most dynamic city and the Great West its hinterland, Mr. Cronon opens a new window onto our national past. This is the story of city and country becoming ever more tightly bound in a system so powerful that it reshaped the American landscape and transformed American culture. The world that emerged is our own.Winner of the Chicago Tribune Heartland Prize

    This new translation of Volume One, the only volume to be completed and edited by Marx himself, avoids some of the mistakes that have marred earlier versions and seeks to do justice to the literary qualities of the work. The introduction is by Ernest Mandel, author of Late Capitalism, one of the only comprehensive attempts to develop the theoretical legacy of Capital.

    From inside the corner office at Lehman Brothers to secret meetings in South Korea, and the corridors of Washington, Too Big to Fail is the definitive story of the most powerful men and women in finance and politics grappling with success and failure, ego and greed, and, ultimately, the fate of the world’s economy. “We’ve got to get some foam down on the runway!” a sleepless Timothy Geithner, the then-president of the Federal Reserve of New York, would tell Henry M. Paulson, the Treasury secretary, about the catastrophic crash the world’s financial system would experience. Through unprecedented access to the players involved, Too Big to Fail re-creates all the drama and turmoil, revealing neverdisclosed details and elucidating how decisions made on Wall Street over the past decade sowed the seeds of the debacle. This true story is not just a look at banks that were “too big to fail,” it is a real-life thriller with a cast of bold-faced names who themselves thought they were too big to fail.

    Detroit, once the richest city in the nation, is now its poorest. Once the vanguard of America’s machine age—mass production, automobiles, and blue-collar jobs—Detroit is now America’s capital for unemployment, illiteracy, foreclosure, and dropouts. A city the size of San Francisco and Manhattan could neatly fit into Detroit’s vacant lots. In another life, Charlie LeDuff won the Pulitzer Prize reporting for The New York Times. But all that is behind him now, after returning to find his hometown in total freefall. Detroit is where his mother’s flower shop was firebombed; where his sister lost herself to drugs; where his brother works in a factory cleaning Chinese-manufactured screws so they can be repackaged as “Made in America.” With the steel-eyed reportage that has become his trademark—and the righteous indignation only a native son possesses—LeDuff sets out to uncover what destroyed his city. He embeds with a local fire brigade struggling to defend its neighborhood against systemic arson and bureaucratic corruption. He investigates state senators and career police officials, following the money to discover who benefits from Detroit’s decline. He befriends union organizers, homeless do-gooders, embattled businessmen, and struggling homeowners, all ordinary people holding the city together by sheer determination. Americans have hoped for decades that Detroit was an exception, an outlier. What LeDuff reveals is that Detroit is, once and for all, America’s city: It led us on the way up, and now it is leading us on the way down. Detroit can no longer be ignored because what happened there is happening out here. Redemption is thin on the ground in this ghost of a city, but Detroit: An American Autopsy is no hopeless parable. Instead, LeDuff shares a deeply human drama of colossal greed, ignorance, endurance, and courage. Detroit is an unbelievable story of a hard town in a rough time filled with some of the strangest and strongest people our country has to offer—and a black comic tale of the absurdity of American life in the twenty-first century.

    It proposes enlightening similarities between, for instance, maneuvering in limited war and in a traffic jam; deterring the Russians and one's own children; the modern strategy of terror and the ancient institution of hostages.

    Pettis combines the insights of economic history, economic theory, and finance theory into a comprehensive model for understanding sovereign liability management and the causes of financial crises. He examines recent financial crises in emerging market countries along with the history of international lending since the 1820s to argue that the process of international lending is driven primarily by external events and not by local politics and/or economic policies. He draws out the corporate finance implications of this approach to argue that most of the current analyses of the recent financial crises suffered by Latin America, Asia, and Russia have largely missed the point. He then develops a sovereign finance model, analogous to corporate finance, to understand the capital structure needs of emerging market countries. Using this model, he finally puts into perspective the recent crises, a new sovereign liability management theory, the implications of the model for sovereign debt restructurings, and the new financial architecture.Bridging the gap between finance specialists and traders, on the one hand, and economists and policy-makers on the other, The Volatility Machine is critical reading for anyone interested in where the international economy is going over the next several years.

    According to Leigh Gallagher, this phenomenon isn’t merely about the housing bust; it reflects fundamental changes in our society. For example:The nuclear family is declining: Since the Baby Boom, birthrates and marriage rates have shrunk, reducing the demand for big homes in suburbia.The era of “bigger is better” is over: As we become more concerned about the environment we opt for smaller homes and avoid the gas-guzzling nature of suburban sprawl.Our cities are having a renaissance: New research shows that urbanized living actually makes for happier, healthier lifestyles. Blending economic data, analysis, and on-the-ground reporting, Gallagher paints a surprising and fascinating portrait of how the American Dream isn’t over; it’s simply changing.

    Marshaling a vast array of data and the personal stories of hundreds of men and women, Wilson persuasively argues that problems endemic to America's inner cities;from fatherless households to drugs and violent crime.Wilson's achievement is to portray this crisis as one that affects all Americans, and to propose solutions whose benefits would be felt across our society. At a time when welfare is ending and our country's racial dialectic is more strained than ever.

    In fact, as Liaquat Ahamed reveals, it was the decisions taken by a small number of central bankers that were the primary cause of the economic meltdown, the effects of which set the stage for World War II and reverberated for decades. In Lords of Finance, we meet the neurotic and enigmatic Montagu Norman of the Bank of England, the xenophobic and suspicious Émile Moreau of the Banque de France, the arrogant yet brilliant Hjalmar Schacht of the Reichsbank, and Benjamin Strong of the Federal Reserve Bank of New York, whose façade of energy and drive masked a deeply wounded and overburdened man. After the First World War, these central bankers attempted to reconstruct the world of international finance. Despite their differences, they were united by a common fear—that the greatest threat to capitalism was inflation— and by a common vision that the solution was to turn back the clock and return the world to the gold standard. For a brief period in the mid-1920s they appeared to have succeeded. The world’s currencies were stabilized and capital began flowing freely across the globe. But beneath the veneer of boom-town prosperity, cracks started to appear in the financial system. The gold standard that all had believed would provide an umbrella of stability proved to be a straitjacket, and the world economy began that terrible downward spiral known as the Great Depression. As yet another period of economic turmoil makes headlines today, the Great Depression and the year 1929 remain the benchmark for true financial mayhem. Offering a new understanding of the global nature of financial crises, Lords of Finance is a potent reminder of the enormous impact that the decisions of central bankers can have, of their fallibility, and of the terrible human consequences that can result when they are wrong.

    Originally published in England in the spring of 1944—when Eleanor Roosevelt supported the efforts of Stalin, and Albert Einstein subscribed lock, stock, and barrel to the socialist program—The Road to Serfdom was seen as heretical for its passionate warning against the dangers of state control over the means of production. For F. A. Hayek, the collectivist idea of empowering government with increasing economic control would inevitably lead not to a utopia but to the horrors of nazi Germany and fascist Italy.First published by the University of Chicago Press on September 18, 1944, The Road to Serfdom garnered immediate attention from the public, politicians, and scholars alike. The first printing of 2,000 copies was exhausted instantly, and within six months more than 30,000 were sold. In April of 1945, Reader's Digest published a condensed version of the book, and soon thereafter the Book-of-the-Month Club distributed this condensation to more than 600,000 readers. A perennial best-seller, the book has sold over a quarter of a million copies in the United States, not including the British edition or the nearly twenty translations into such languages as German, French, Dutch, Swedish, and Japanese, and not to mention the many underground editions produced in Eastern Europe before the fall of the iron curtain.After thirty-two printings in the United States, The Road to Serfdom has established itself alongside the works of Alexis de Tocqueville, John Stuart Mill, and George Orwell for its timeless meditation on the relation between individual liberty and government authority. This fiftieth anniversary edition, with a new introduction by Milton Friedman, commemorates the enduring influence of The Road to Serfdom on the ever-changing political and social climates of the twentieth century, from the rise of socialism after World War II to the Reagan and Thatcher "revolutions" in the 1980s and the transitions in Eastern Europe from communism to capitalism in the 1990s.F. A. Hayek (1899-1992), recipient of the Medal of Freedom in 1991 and co-winner of the Nobel Memorial Prize in Economics in 1974, was a pioneer in monetary theory and the principal proponent of libertarianism in the twentieth century.On the first American edition of The Road to Serfdom:"One of the most important books of our generation. . . . It restates for our time the issue between liberty and authority with the power and rigor of reasoning with which John Stuart Mill stated the issue for his own generation in his great essay On Liberty. . . . It is an arresting call to all well-intentioned planners and socialists, to all those who are sincere democrats and liberals at heart to stop, look and listen."—Henry Hazlitt, New York Times Book Review, September 1944"In the negative part of Professor Hayek's thesis there is a great deal of truth. It cannot be said too often—at any rate, it is not being said nearly often enough—that collectivism is not inherently democratic, but, on the contrary, gives to a tyrannical minority such powers as the Spanish Inquisitors never dreamt of."—George Orwell, Collected Essays

    Power and Plenty fills this gap, providing the first full account of world trade and development over the course of the last millennium.Ronald Findlay and Kevin O'Rourke examine the successive waves of globalization and deglobalization that have occurred during the past thousand years, looking closely at the technological and political causes behind these long-term trends. They show how the expansion and contraction of the world economy has been directly tied to the two-way interplay of trade and geopolitics, and how war and peace have been critical determinants of international trade over the very long run. The story they tell is sweeping in scope, one that links the emergence of the Western economies with economic and political developments throughout Eurasia centuries ago. Drawing extensively upon empirical evidence and informing their systematic analysis with insights from contemporary economic theory, Findlay and O'Rourke demonstrate the close interrelationships of trade and warfare, the mutual interdependence of the world's different regions, and the crucial role these factors have played in explaining modern economic growth. Power and Plenty is a must-read for anyone seeking to understand the origins of today's international economy, the forces that continue to shape it, and the economic and political challenges confronting policymakers in the twenty-first century.