A unifying framework uses a few core principles to organize readers' thinking then examines the models as real-world scenarios from a practitioner's perspective. By analyzing these applications, readers develop the critical-thinking and problem-solving skills necessary to respond to challenging situations in their future careers. Introduction: Why Study Financial Markets and Institutions?; Overview of the Financial System. Fundamentals of Financial Markets: What Do Interest Rates Mean and What Is Their Role in Valuation?; Why Do Interest Rates Change?; How Do Risk and Term Structure Affect Interest Rates?; Are Financial Markets Efficient? Central Banking and the Conduct of Monetary Policy: Structure of Central Banks and the Federal Reserve System; Conduct of Monetary Policy: Tools, Goals, Strategy, and Tactics. Financial Markets: The Money Markets; The Bond Market; The Stock Market; The Mortgage Markets; The Foreign Exchange Market; The International Financial System. Fundamentals of Financial Institutions: Why Do Financial Institutions Exist?; What Should Be Done About Conflicts of Interest? A Central Issue in Business Ethics. The Financial Institutions Industry: Banking and the Management of Financial Institutions; Commercial Banking Industry: Structure and Competition; Savings Associations and Credit Unions; Banking Regulation; The Mutual Fund Industry; Insurance Companies and Pension Funds; Investment Banks, Security Brokers and Dealers, and Venture Capital Firms. The Management of Financial Institutions: Risk Management in Financial Institutions; Hedging with Financial Derivatives. On the Web: Finance Companies. For all readers interested in financial markets and institutions.

    Lester Award for the Outstanding Book in Industrial Relations and Labor Economics, Princeton UniversityAn Economist Best Economics and Business Book of the YearA Financial Times Best Economics Book of the YearInequality is one of our most urgent social problems. Curbed in the decades after World War II, it has recently returned with a vengeance. We all know the scale of the problem--talk about the 99% and the 1% is entrenched in public debate--but there has been little discussion of what we can do but despair. According to the distinguished economist Anthony Atkinson, however, we can do much more than skeptics imagine."[Atkinson] sets forth a list of concrete, innovative, and persuasive proposals meant to show that alternatives still exist, that the battle for social progress and equality must reclaim its legitimacy, here and now... Witty, elegant, profound, this book should be read."--Thomas Piketty, New York Review of Books"An uncomfortable affront to our reigning triumphalists. [Atkinson's] premise is straightforward: inequality is not unavoidable, a fact of life like the weather, but the product of conscious human behavior.--Owen Jones, The Guardian

    Get a new and powerful understanding of the world around you. Save yourself from the nonsense spouted by politicians, TV pundits, right-wingers, left-wingers, shamans, uncles, and best friends.

    Now Jagdish Bhagwati, the internationally renowned economist, takes on the critics, revealing that globalization, when properly governed, is in fact the most powerful force for social good in the world today. Drawing on his unparalleled knowledge of international and development economics, Bhagwati explains why the gotcha examples of the critics are oftennot as compelling as they seem. With the wit and wisdom for which he is renowned, Bhagwati convincingly shows that globalization is part of the solution, not part of the problem

    In addition to fine-tuning and streamlining the prose and the overall presentation, the authors have comprehensively updated the text and the applications to reflect recent economic developments and topics of current interest. Students in particular will find the Study Guide, with its practice questions, exercises, and problems, to be an excellent source of study support and extra review material. It is available in both a one- and a two-volume edition.

    Dahl . . . is about as covered in honors as a scholar can be. . . . He knows what he is talking about. And he thinks that the Constitution has something the matter with it.”—Hendrik Hertzberg, New Yorker  “A devastating attack on the undemocratic character of the American Constitution.”—Gordon S. Wood, New York Review of Books   In this provocative book, one of our most eminent political scientists poses the question, “Why should Americans uphold their constitution?” The vast majority of Americans venerate the Constitution and the democratic principles it embodies, but many also worry that the United States has fallen behind other nations on crucial issues, including economic equality, racial integration, and women’s rights. Robert Dahl explores this vital tension between the Americans’ belief in the legitimacy of their constitution and their belief in the principles of democracy. Dahl starts with the assumption that the legitimacy of the American Constitution derives solely fromits utility as an instrument of democratic governance. Dahl demonstrates that, due to the context in which it was conceived, our constitution came to incorporate significant antidemocratic elements. Because the Framers of the Constitution had no relevant example of a democratic political system on which to model the American government, many defining aspects of our political system were implemented as a result of short-sightedness or last-minute compromise. Dahl highlights those elements of the American system that are most unusual and potentially antidemocratic: the federal system, the bicameral legislature, judicial review, presidentialism, and the electoral college system. The political system that emerged from the world’s first great democratic experiment is unique—no other well-established democracy has copied it. How does the American constitutional system function in comparison to other democratic systems? How could our political system be altered to achieve more democratic ends? To what extent did the Framers of the Constitution build features into our political system that militate against significant democratic reform? Refusing to accept the status of the American Constitution as a sacred text, Dahl challenges us all to think critically about the origins of our political system and to consider the opportunities for creating a more democratic society.

    He wrote a line-by-line commentary and refutation of one of the most destructive, fallacious, and convoluted books of the century. The target here is John Maynard Keynes's General Theory, the book that appeared in 1936 and swept all before it. In economic science, Keynes changed everything. He supposedly demonstrated that prices don't work, that private investment is unstable, that sound money is intolerable, and that government was needed to shore up the system and save it. It was simply astonishing how economists the world over put up with this, but it happened. He converted a whole generation in the late period of the Great Depression. By the 1950s, almost everyone was Keynesian. But Hazlitt, the nation's economics teacher, would have none of it. And he did the hard work of actually going through the book to evaluate its logic according to Austrian-style logical reasoning. The result: a 500-page masterpiece of exposition. Murray Rothbard was blown away.

    It became one of the largest empires on the planet with an army of almost one million men at arms and an economy that was stronger than any other at the time. The Mughal Empire developed new art and architecture, and some of the things created during this empire are still regarded as iconic representations of India.Although most of its conquests were achieved through the application of military power, this was also a relatively liberal, pluralist empire which successfully assimilated people from varied cultural and religious background into a total population of over one hundred and fifty million. Perhaps that is surprising given that this empire originated with an invasion by nomadic Mongols from the north; the very first Mughal emperor was a direct descendent of both Genghis Khan and Tamerlane.Then, just when the Mughal Empire seemed to have become invincible, it disintegrated in an astonishingly short space of time. This book tells the story of how the Mughal Empire was able to achieve almost unimaginable power and wealth and how within the nature of that success were the elements which eventually tore the empire apart. This is the complex, exciting story of the rapid rise and even more rapid collapse of the mighty, colorful, vibrant, and complex Mughal Empire.

    Nobody knows who created donuts. Or where. Or when. Neptune's core is covered in plastic. "Eleven plus two" is an anagram of "twelve plus one." Five of George Foreman's children are called George Foreman. One of the designers of Barbie used to build missiles. There's a flower that looks like Darth Vader's helmet. Bob Dylan won a Nobel Prize in 2016. There's an Egyptian professor who believes that the pyramids were built by dinosaurs. Abracadabra means "I create as I speak." Tulips used to be worth $1,250 each. There's a group of people who firmly believe that Finland isn't real. Queen Elizabeth I invented gingerbread men.

    Norman Baker said that about his autobiography. Why? He was a jackass. In the pages of this book meet 20 losers, killers, confidence tricksters, and incompetents - the Jackasses of History. For adult readers.

    This third edition takes a student-oriented, problem-based approach, focusing on social problems, such as hunger, poverty, environmental devastation, disease, gender issues, and social conflict.

    Professor Gellner asserts here that a society's affluence and economic growth depend on innovation, occupational mobility, the effectiveness of the mass media, universal literacy, and an all-embracing educational system based on a shared, standard idiom. These factors, taken together, govern the relationship between culture and the state. Political units that do not conform to the principle, one state, one culture feel the strain in the form of nationalistic activity.

    It is now used frequently—and often incorrectly—by political leaders, editorial writers, and academics around the world. So what is soft power? Soft power lies in the ability to attract and persuade. Whereas hard power—the ability to coerce—grows out of a country's military or economic might, soft power arises from the attractiveness of a country's culture, political ideals, and policies. Hard power remains crucial in a world of states trying to guard their independence and of non-state groups willing to turn to violence. It forms the core of the Bush administration's new national security strategy. But according to Nye, the neo-conservatives who advise the president are making a major miscalculation: They focus too heavily on using America's military power to force other nations to do our will, and they pay too little heed to our soft power. It is soft power that will help prevent terrorists from recruiting supporters from among the moderate majority. And it is soft power that will help us deal with critical global issues that require multilateral cooperation among states. That is why it is so essential that America better understands and applies our soft power. This book is our guide.

    Rothbard begins with a quick overview of its historical roots, and then goes on to define libertarianism as resting "upon one single axiom: that no man or group of men shall aggress upon the person or property of anyone else." He writes a withering critique of the chief violator of liberty: the State. Rothbard then provides penetrating libertarian solutions for many of today's most pressing problems, including poverty, war, threats to civil liberties, the education crisis, and more.

    Eminent Canadian law professor and legal theorist Joel Bakan contends that today's corporation is a pathological institution, a dangerous possessor of the great power it wields over people and societies.In this revolutionary assessment of the history, character, and globalization of the modern business corporation, Bakan backs his premise with the following observations:-The corporation’s legally defined mandate is to pursue relentlessly and without exception its own economic self-interest, regardless of the harmful consequences it might cause to others. -The corporation’s unbridled self-interest victimizes individuals, society, and, when it goes awry, even shareholders and can cause corporations to self-destruct, as recent Wall Street scandals reveal. -Governments have freed the corporation, despite its flawed character, from legal constraints through deregulation and granted it ever greater authority over society through privatization.But Bakan believes change is possible and he outlines a far-reaching program of achievable reforms through legal regulation and democratic control.Featuring in-depth interviews with such wide-ranging figures as Nobel Prize winner Milton Friedman, business guru Peter Drucker, and cultural critic Noam Chomsky, The Corporation is an extraordinary work that will educate and enlighten students, CEOs, whistle-blowers, power brokers, pawns, pundits, and politicians alike.