Crafting an engrossing journey from the gushing Pennsylvania oil fields of the 1860s to today's fraught and fractious Middle East, Crude Volatility explains how past periods of stability and volatility in oil prices help us understand the new boom-bust era. Oil's notorious volatility has always been considered a scourge afflicting not only the oil industry but also the broader economy and geopolitical landscape; Robert McNally makes sense of how oil became so central to our world and why it is subject to such extreme price fluctuations.Tracing a history marked by conflict, intrigue, and extreme uncertainty, McNally shows how--even from the oil industry's first years--wild and harmful price volatility prompted industry leaders and officials to undertake extraordinary efforts to stabilize oil prices by controlling production. Herculean market interventions--first, by Rockefeller's Standard Oil, then, by U.S. state regulators in partnership with major international oil companies, and, finally, by OPEC--succeeded to varying degrees in taming the beast. McNally, a veteran oil market and policy expert, explains the consequences of the ebbing of OPEC's power, debunking myths and offering recommendations--including mistakes to avoid--as we confront the unwelcome return of boom and bust oil prices.

    Taking readers from ancient Rome to today, Helena Rosenblatt traces the evolution of the words “liberal” and “liberalism,” revealing the heated debates that have taken place over their meaning.In this timely and provocative book, Rosenblatt debunks the popular myth of liberalism as a uniquely Anglo-American tradition centered on individual rights. She shows that it was the French Revolution that gave birth to liberalism and Germans who transformed it. Only in the mid-twentieth century did the concept become widely known in the United States—and then, as now, its meaning was hotly debated. Liberals were originally moralists at heart. They believed in the power of religion to reform society, emphasized the sanctity of the family, and never spoke of rights without speaking of duties. It was only during the Cold War and America’s growing world hegemony that liberalism was refashioned into an American ideology focused so strongly on individual freedoms.Today, we still can’t seem to agree on liberalism’s meaning. In the United States, a “liberal” is someone who advocates big government, while in France, big government is contrary to “liberalism.” Political debates become befuddled because of semantic and conceptual confusion. The Lost History of Liberalism sets the record straight on a core tenet of today’s political conversation and lays the foundations for a more constructive discussion about the future of liberal democracy.

    It shows that the corruption of American "conservatism" began long before George W. Bush ballooned the budget and asserted dictatorial rights over the country and the world. The American Right long ago slid into the abyss. Betrayal of the American Right is the full story, and the author is none other than Murray N. Rothbard, who witnessed it all first hand. He tells his own story and reveals that machinations behind the subversion of an anti-state movement into one that cheers statism of the worst sort. The book was written in the mid-1970s and is only now published for the first time. Each time a prospective publisher promised to go ahead, the deal fell through. Even so, it has been privately circulated for the 30 years since it was written - and everyone lucky enough to own a copy of the manuscript knew he had a treasure. People who have read it swear that it is the best account ever how the old right was subverted to become a propaganda branch of the state, not just recently but fifty years ago. So Rothbard's account is not only a critical historical document; it also has explosive explanatory power. According to Rothbard, the corruption of the right began in the ten years after the end of the Second World War. Before then, a strong movement of journalists, writers, and even politicians had formed during the New Deal and after. There was a burgeoning literature to explain why New Deal-style central planning was bad for American liberty. They also saw that central planning and war were linked as two socialistic programs. The experience of war was telling. Prices were controlled by central edict. Businesses were not free to buy and sell. Government spending went through the roof. The Fed's money machine ran constantly. The war was a continuation of the New Deal by others means. They learned that a president dictatorial enough to manipulate the country into war would think nothing of ending liberty at home. There were wonderful intellectuals in this movement: Frank Chodorov, John T. Flynn, Garet Garrett, Albert Jay Nock, Rose Wilder Lane, and dozens of others. This movement didn't want to conserve anything but liberty. They wanted to overthrow the alien regime that had taken hold of the country and restore respect for the Constitution. They believed in the free market as a creative mechanism to improve society. They favored a restoration of the gold standard, decentralized government, and peace and friendship with all nations (as George Washington wanted). Murray Rothbard recounts all this, and then enters into the picture. He was a central player in the unfolding events. As a young man, he first encountered the new generation of people on the right who departed dramatically from the old. They were the first "neoconservatives." They favored war as a means. They were soft on executive dictatorship. They considered economics rather trivial compared with the struggle against international foes. They found new uses for the state in the domestic realm as well. They like the CIA, the FBI, and no amount of military spending was enough for them. A leader of the movement William F. Buckley even called for a "totalitarian bureaucracy within our shores" so long as Russia, which had been an alley in the war, had a communist system. This transformation was formative for Rothbard. He began an intellectual journey that would lead to a break from the movement that was now calling itself conservative. He studied with Ludwig von Mises during and after his graduate school years. He wrote a seminal book on economics. He wrote at a fevered pace for the popular press. By 1965, he found that he was pretty much alone in carrying on the Old Right vision. Most everyone else had died or had entered

    There, one man and his five brilliant sons made their fortune as court agents to a royal prince. It would take Napoleon’s earth-shattering quest to conquer Europe to scatter the five brothers to the four winds, but when the dust of war settled, there was a Rothschild brother and a Rothschild bank in five cities: London, Paris, Frankfurt, Naples, and Vienna. The era of haute finance had begun, and the legend of a banking dynasty more powerful than any royal family in history was established. In this book, you will follow the progress of the Rothschild family through the centuries. Their ranks included not only bankers and financiers but doctors, scientists, bomb experts, and collectors who amassed not only some of the finest art collections in Europe, but also one of the finest bug collections. Find out for yourself how the Rothschilds prevented wars, crowned and uncrowned kings, helped win the battle of Waterloo, looked down their noses at Nazis, and established a Jewish homeland in Palestine.

    The rules, policies, and institutions that have guided the world since World War II have largely run their course. Respect for sovereignty alone cannot uphold order in an age defined by global challenges from terrorism and the spread of nuclear weapons to climate change and cyberspace. Meanwhile, great power rivalry is returning. Weak states pose problems just as confounding as strong ones. The United States remains the world’s strongest country, but American foreign policy has at times made matters worse, both by what the U.S. has done and by what it has failed to do. The Middle East is in chaos, Asia is threatened by China’s rise and a reckless North Korea, and Europe, for decades the world’s most stable region, is now anything but. As Richard Haass explains, the election of Donald Trump and the unexpected vote for “Brexit” signals that many in modern democracies reject important aspects of globalization, including borders open to trade and immigrants.In A World in Disarray, Haass argues for an updated global operating system—call it world order 2.0—that reflects the reality that power is widely distributed and that borders count for less. One critical element of this adjustment will be adopting a new approach to sovereignty, one that embraces its obligations and responsibilities as well as its rights and protections. Haass also details how the U.S. should act towards China and Russia, as well as in Asia, Europe, and the Middle East. He suggests, too, what the country should do to address its dysfunctional politics, mounting debt, and the lack of agreement on the nature of its relationship with the world.A World in Disarray is a wise examination, one rich in history, of the current world, along with how we got here and what needs doing. Haass shows that the world cannot have stability or prosperity without the United States, but that the United States cannot be a force for global stability and prosperity without its politicians and citizens reaching a new understanding.

    Now, in this fully illustrated book, one hundred of the world's most important military confrontations are described in detail.100 Decisive Battles gives us the facts about the battle and also explains where it fits in to the scope of world history.In each entry we are given the name and date of the battle, the commanders, the size of the opposing forces, and casualties. An account of the battle plan and the military action are strategically discussed, and each description closes with a valuable consideration of how history was affected by theoutcome of the conflict. Among the battles presented are the Battle of Thymbra (546 BC), the Battle of Chalons (451 AD), the Battle of Cajamarca (1532), the Battle of Dien Bien Phu (1954), and the Tet Offensive (1968). Accompanying maps and sidebars help further orient us with each military action.Global in scope, with excellent coverage of American, Central American, European, Asian, and Middle Eastern battles, and with its stirring accounts of familiar battles and many lesser known military conflicts, 100 Decisive Battles is essential reading for military buffs and anyone interested in howthe modern world came to be.

    The news was crazy, incredible. The biggest merger ever, it was, according to the media, an "awesome megadeal" and "a fusion of guts and glory." It was "the deal of the century" and "a mega-marriage of earth and cyberspace." An Internet upstart, AOL was buying the world's most powerful media and entertainment company. "A company that isn't old enough to buy beer," marveled the Wall Street Journal, "has essentially swallowed an ancien régime media conglomerate that took most of a century to construct."Two years later, after the smoke had cleared, $200 billion of shareholder value had vanished into cyberspace. On the trail of possible fraud, the SEC and the Justice Department started investigating AOL Time Warner's accounting practices. Meanwhile, a civil war had broken out inside the company, complete with backstabbing and personal betrayals. Before long, almost every major player was out of the company, discredited, and humiliated. Jerry Levin, Time Warner's "resident genius," lost his job, lost his reputation, and, in the view of some people, simply "lost it." Steve Case, the visionary leader of AOL, was forced out of the company he had created. Gone too was the telegenic wonder-boy Bob Pittman, and his gang of fast-talking salesmen. As for Ted Turner, he resigned from his post as vice-chairman of AOL Time Warner in early 2003, bitter, wiser, and $8.5 billion poorer.Fools Rush In is the definitive account of one of the greatest fiascos in the history of corporate America. In a narrative fraught with drama, Nina Munk reveals the overweening ambition and moral posturing that brought down the Deal of the Century. With painstaking reporting and the remarkable eye for detail she's known for, Munk lays out, step by step, the anatomy of a debacle. Irreverent, witty, and iconoclastic, she sees through it all brilliantly."As in all great Greek tragedies, you knew the plot before it played out," one perceptive insider told Munk on the subject of the AOL Time Warner deal; "you knew who'd be sacrificed at the altar." Here's what we discover in Fools Rush In: In their single-minded quest for power, Steve Case and Jerry Levin were at each other's throats even before the deal was announced. Bob Pittman was regarded as a "windup CEO" by Case, and viewed as a hustler by just about everyone at Time Warner. Ted Turner underestimated Jerry Levin's ruthlessness badly. And Levin himself, convinced he was creating a great legacy comparable to that of Time Inc.'s founder, Henry Luce, refused to acknowledge the obvious: that, with a remarkable sense of timing, Steve Case had used grossly inflated Internet paper to buy Time Warner.

    In this important book, Hal Brands explains why grand strategy is a concept that is so alluring--and so elusive--to those who make American statecraft. He explores what grand strategy is, why it is so essential, and why it is so hard to get right amid the turbulence of global affairs and the chaos of domestic politics. At a time when grand strategy is very much in vogue, Brands critically appraises just how feasible that endeavor really is.Brands takes a historical approach to this subject, examining how four presidential administrations, from that of Harry S. Truman to that of George W. Bush, sought to do grand strategy at key inflection points in the history of modern U.S. foreign policy. As examples ranging from the early Cold War to the Reagan years to the War on Terror demonstrate, grand strategy can be an immensely rewarding undertaking--but also one that is full of potential pitfalls on the long road between conception and implementation. Brands concludes by offering valuable suggestions for how American leaders might approach the challenges of grand strategy in the years to come.

     Colin Crouch argues that the decline of those social classes which had made possible an active and critical mass politics has combined with the rise of global capitalism to produce a self-referential political class more concerned with forging links with wealthy business interests than with pursuing political programmes which meet the concerns of ordinary people. He shows how, in some respects, politics at the dawn of the twenty-first century returns us to a world familiar well before the start of the twentieth, when politics was a game played among elites. However, Crouch maintains that the experience of the twentieth century remains salient and it reminds us of possibilities for the revival of politics. This engaging book will prove challenging to all those who claim that advanced societies have reached a virtual best of all possible democratic worlds, and will be compelling reading for anyone interested in the shape of twenty-first-century politics.

    It moves far beyond the review of the standard just war categories to deal comprehensively with the new challenges of the conflict with terrorism. It thoughtfully reviews every major military conflict of the past few decades, mining them for implications of the evolving tradition of just war thinking. It concludes with a critical engagement with the major alternatives to just war thinking: pacifism and 'realism.' It is, in short, the most comprehensive and thoughtful assessment of all aspects of just war since Michael Walzer's classic Just and Unjust Wars." - Martin L. Cook, United States Air Force Academy

    Men like Andrew Carnegie built empires like Carnegie Steel, and financiers like J.P. Morgan merged and consolidated them. The era also made names like Astor, Cooke, and Vanderbilt instantly recognizable across the globe. Over time, the unfathomable wealth generated by the businesses made the individuals on top incredibly rich, and that in turn led to immense criticism and an infamous epithet used to rail against them: robber barons. Dozens of men were called “robber barons”, but few of them were as notorious as Cornelius Vanderbilt, who also happened to be one of the nation’s first business titans. Vanderbilt was a railroad and shipping magnate at a time that the industry was almost brand new, but he rode his success to become one of the richest and most powerful men in American history. When historians are asked to name the richest man in history, a name that often pops up is that of John D. Rockefeller, who co-founded Standard Oil and turned it into the first real trust in the United States. Rockefeller had been groomed ambitiously by a huckster father nicknamed “Devil Bill”, who was just as willing to cheat his son as an unsuspecting public, and John certainly chased his dreams of living long and large. Rockefeller forged his empire in the first few decades of his life and nearly worked himself to death by the time he was 50, which helped compel him to retire for the last several decades of his life. At one point, Rockefeller’s wealth was worth more than 1.5% of the entire country’s gross domestic product, and by adjusting for inflation, he is arguably the richest man in American history if not world history. When robber barons across America took the reins of vast industries, they needed financing, and many of them turned to the most famous banker of all: John Pierpont Morgan. It was J.P. Morgan who bankrolled the consolidation of behemoth corporations across various industries, including the merging of Edison General Electric and Thomson-Houston Electric Company, which subsequently became General Electric, still known simply as GE across the world today. Similarly, he financed Federal Steel Company and consolidated various other steel businesses to help form the United States Steel Corporation. While critics complained about the outsized influence that these gigantic businesses had, Morgan’s massive wealth also gave him unprecedented power in the financial sector and the ability to deal with politicians. In fact, Morgan played an important part in the Panic of 1907 and the subsequent decision to create the Federal Reserve as a monetary oversight. Ironically, one of America’s most famous robber barons, Andrew Carnegie, epitomized the American Dream, migrating with his poor family to America in the mid-19th century and rising to the top of the business world in his adopted country. A prodigious writer in addition to his keen sense of business, Carnegie was one of the most outspoken champions of capitalism at a time when there was pushback among lower social classes who witnessed the great disparities in wealth; as he once put it, “Upon the sacredness of property civilization itself depends—the right of the laborer to his hundred dollars in the savings bank, and equally the legal right of the millionaire to his millions.

    

    His analysis explains not only the deficiencies of the self-regulating market, but the potentially dire social consequences of untempered market capitalism. New introductory material reveals the renewed importance of Polanyi's seminal analysis in an era of globalization and free trade.

    In From Wealth to Power, Fareed Zakaria seeks to answer these questions by examining the most puzzling case of a rising power in modern history--that of the United States.If rich nations routinely become great powers, Zakaria asks, then how do we explain the strange inactivity of the United States in the late nineteenth century? By 1885, the U.S. was the richest country in the world. And yet, by all military, political, and diplomatic measures, it was a minor power. To explain this discrepancy, Zakaria considers a wide variety of cases between 1865 and 1908 when the U.S. considered expanding its influence in such diverse places as Canada, the Dominican Republic, and Iceland. Consistent with the realist theory of international relations, he argues that the President and his administration tried to increase the country's political influence abroad when they saw an increase in the nation's relative economic power. But they frequently had to curtail their plans for expansion, he shows, because they lacked a strong central government that could harness that economic power for the purposes of foreign policy. America was an unusual power--a strong nation with a weak state. It was not until late in the century, when power shifted from states to the federal government and from the legislative to the executive branch, that leaders in Washington could mobilize the nation's resources for international influence.Zakaria's exploration of this tension between national power and state structure will change how we view the emergence of new powers and deepen our understanding of America's exceptional history.

    Whether it is Hannibal of Carthage marching elephants across the Alps and attacking the heart of Rome, Khalid ibn al-Walid boasting an undefeated military career and destroying the Persian Empire while subduing the Byzantines, or Russian General Alexander Suvurov and his elevation of the bayonet to a work of art that could cut down any European army, great military leaders have exerted tremendous influence on society. This book will look at the lives of the ten greatest military commanders in history. Some conquered the fullest expanse of the known world, as did Alexander the Great. Still others were master statesmen and capable of translating military victory into long-term political gains, such as Julius Caesar, whose vanquishing of the Gauls and his political opponents laid the groundwork for several centuries of unmatchable Roman imperial might. It will also look at the tactics they used to bring down stronger armies and befuddle them at every turn; whether it is Napoleon, who nearly conquered Europe through his deadly manoeuvre sur les derrieres and marching unexpectedly away from the enemy's main strength and concentrating on a weak but vital enemy point; or Hannibal's double entrapment maneuver, which has been the envy of military strategists for the last 2,000 years. Whatever their background, these rulers show that the right military commander at the right time in history can destroy an empire, change civilization, and alter the course of world history forever.