John Maynard Keynes, the mercurial Cambridge economist, believed that government had a duty to spend when others would not. He met his opposite in a little-known Austrian economics professor, Freidrich Hayek, who considered attempts to intervene both pointless and potentially dangerous. The battle lines thus drawn, Keynesian economics would dominate for decades and coincide with an era of unprecedented prosperity, but conservative economists and political leaders would eventually embrace and execute Hayek's contrary vision.From their first face-to-face encounter to the heated arguments between their ardent disciples, Nicholas Wapshott here unearths the contemporary relevance of Keynes and Hayek, as present-day arguments over the virtues of the free market and government intervention rage with the same ferocity as they did in the 1930s.

    A popular history of the British East India Company and how it shaped the way corporations operate today.

    But Britain’s partitioning of Afghanistan will rank asthe greatest crime of the nineteenth century. That arbitrary line which Mortimer Durand drewin 1893 on a small piece of paper continues to bleed Afghanistan and hound the world. Alas,this story remained untold until now.Written in an inimitable style, Durand’s Curse is the result of deep research. Fascinating detailsfrom long-buried archives of history reveal for the first time a tale of intrigue and deceit againstAfghanistan. First the British and then Pakistan had taken away territory that originally belongedto Afghanistan. But the divided Pathan families refuse to accept this division even now and for thelast century and over, there has been a struggle to rub out the cursed line drawn across the sand.Rajiv Dogra brings alive the wars, the tragedies and the Afghan anger against injustice in thisheart-wrenching account of Afghanistan’s misfortunes. This is an absolutely riveting story of theIndian sub-continent's history told by an important writer of our generation.

    A parade of ships full of raw commodities -iron ore, coal, oil- arrive in its ports, and fleets of container ships leave with manufactured goods in all directions. The oil that fuels China's manufacturing comes primarily from the Arabian Peninsula. Much of the material shipped from China are transported through the ports of Arabian Peninsula, Dubai's Jabal Ali port foremost among them. China's 'maritime silk road' flanks the Peninsula on all sides. Sinews of War and Trade is the story of what the making of new ports and shipping infrastructures has meant not only for the Arabian Peninsula itself, but for the region and the world beyond. The book is the account of how maritime transportation is not simply an enabling adjunct of trade, but central to the very fabric of global capitalism. The ports that serve maritime trade, logistics, and hydrocarbon transport create racialised hierarchies of labour, engineer the lived environment, aid the accumulation of capital regionally and globally, and carry forward colonial regimes of profit, law and administration.

    Challenging the reductionist division of people by race, religion, and class, Sen presents an inspiring vision of a world that can be made to move toward peace as firmly as it has spiraled in recent years toward brutality and war.

    Written for a generation presented with challenges of terrible proportions--the Industrial, American, and French Revolutions, to name the most obvious--Burke's Reflections of the Revolution in France displays an acute awareness of how high political stakes can be, as well as a keen ability to set contemporary problems within a wider context of political theory.

    Drawing on vast data sets and cutting-edge research, he explains the benign and malign forces that make inequality rise and fall within and among nations. He also reveals who has been helped the most by globalization, who has been held back, and what policies might tilt the balance toward economic justice.Global Inequality takes us back hundreds of years, and as far around the world as data allow, to show that inequality moves in cycles, fueled by war and disease, technological disruption, access to education, and redistribution. The recent surge of inequality in the West has been driven by the revolution in technology, just as the Industrial Revolution drove inequality 150 years ago. But even as inequality has soared within nations, it has fallen dramatically among nations, as middle-class incomes in China and India have drawn closer to the stagnating incomes of the middle classes in the developed world. A more open migration policy would reduce global inequality even further.Both American and Chinese inequality seems well entrenched and self-reproducing, though it is difficult to predict if current trends will be derailed by emerging plutocracy, populism, or war. For those who want to understand how we got where we are, where we may be heading, and what policies might help reverse that course, Milanovic s compelling explanation is the ideal place to start."

    Mohamed A. El-Erian, one of the world’s most influential economic thinkers and the author of When Markets Collide, has written a roadmap to what lies ahead and the decisions we must make now to stave off the next global economic and financial crisis.Our current economic path is coming to an end. The signposts are all around us: sluggish growth, rising inequality, stubbornly high pockets of unemployment, and jittery financial markets, to name a few. Soon we will reach a fork in the road: One path leads to renewed growth, prosperity, and financial stability, the other to recession and market disorder.In The Only Game in Town, El-Erian casts his gaze toward the future of the global economy and markets, outlining the choices we face both individually and collectively in an era of economic uncertainty and financial insecurity. Beginning with their response to the 2008 global crisis, El-Erian explains how and why our central banks became the critical policy actors—and, most important, why they cannot continue is this role alone. They saved the financial system from collapse in 2008 and a multiyear economic depression, but lack the tools to enable a return to high inclusive growth and durable financial stability. The time has come for a policy handoff, from a prolonged period of monetary policy experimentation to a strategy that better targets what ails economies and distorts the financial sector—before we stumble into another crisis. The future, critically, is not predestined. It is up to us to decide where we will go from here as households, investors, companies, and governments. Using a mix of insights from economics, finance, and behavioral science, this book gives us the tools we need to properly understand this turning point, prepare for it, and come out of it stronger. A comprehensive, controversial look at the realities of our global economy and markets, The Only Game in Town is required reading for investors, policymakers, and anyone interested in the future.Praise for The Only Game in Town“The one economic book you must read now . . . If you want to understand this bifurcated world and where it’s headed, there is no better interpreter than Mohamed El-Erian. . . . An excellent primer [and] a guide on what to expect as the world struggles to cope with slower, less equal growth.”—Time“How come the global economy is now run largely by unelected central banks? In this highly intelligent analysis, the author, a respected investor and CEO, explains how elected governments are failing in their basic job to take care of the economy and why this might lead to a massive unmanageable crisis.”—Fareed Zakaria, CNN (book of the week)“El-Erian expertly offers a balanced view, commending the central banks for their necessarily aggressive policy views while noting, for example, the failure of the Fed to recognize the pre-crisis housing bubble. . . . A grand tour of the challenges we face, along with ideal solutions and more likely outcomes.”—Steven Rattner, The New York Times Book Review“What better moment could there be for a book subtitled ‘Central Banks, Instability, and Avoiding the Next Collapse’? And who better to write it than Mohamed El-Erian . . . ?”—Financial Times“A warning on the Federal Reserve’s limits . . . For those who consider Washington politicians incapable of acting effectively, [El-Erian’s] diagnosis is chilling.”—The New York Times

    So which strategy best addresses India's, and by extension the world's, greatest moral challenge: lifting a great number of extremely poor people out of poverty?Bhagwati and Panagariya argue forcefully that only one strategy will help the poor to any significant effect: economic growth, led by markets overseen and encouraged by liberal state policies. Their radical message has huge consequences for economists, development NGOs and anti-poverty campaigners worldwide. There are vital lessons here not only for Southeast Asia, but for Africa, Eastern Europe, and anyone who cares that the effort to eradicate poverty is more than just good intentions. If you want it to work, you need growth. With all that implies.

    Sir Michael had become increasingly alarmed at the effect Gandhi was having on his province, as well as recent demonstrations, strikes, and shows of Hindu-Muslim unity. All these things, to Sir Michael, were a precursor to a second Indian revolt. What happened next shocked the world. An unauthorized gathering in the Jallianwallah Bagh in Amritsar in April 1919 became the focal point for Sir Michael’s law enforcers. Dyer marched his soldiers into the walled garden, blocking the only exit. Then, without issuing any order to disperse, he instructed his men to open fire, turning their guns on the thickest parts of the crowd, filled with over a thousand unarmed men, women, and children. For ten minutes, the soldiers continued firing, stopping only when they ran out of ammunition. According to legend, eighteen-year-old Sikh orphan Udham Singh was injured in the attack, and remained surrounded by the dead and dying until he was able to move the next morning. Then, he supposedly picked up a handful of blood-soaked earth, smeared it across his forehead, and vowed to kill the men responsible. The truth, as the author has discovered, is more complex—but no less dramatic. Award-winning journalist Anita Anand traced Singh’s journey through Africa, the United States, and across Europe until, in March 1940, he finally arrived in front of O’Dwyer himself in a London hall ready to shoot him down. The Patient Assassin shines a devastating light on one of history’s most horrific events, but it reads like a taut thriller and reveals the incredible but true story behind a legend that still endures today.

    In this Very Short Introduction, Robert C. Allen shows how the interplay of geography, globalization, technological change, and economic policy has determined the wealth and poverty of nations. Allen shows how the industrial revolution was Britain's path-breaking response to the challenge of globalization. Western Europe and North America joined Britain to form a club of rich nations, pursuing four polices--creating a national market by abolishing internal tariffs and investing in transportation, erecting an external tariff to protect their fledgling industries from British competition, creating banks to stabilize the currency and mobilize domestic savings for investment, and promoting mass education to prepare people for industrial work. Together these countries pioneered new technologies that have made them ever richer. A few countries--Japan, Soviet Russia, South Korea, Taiwan, and perhaps China--have caught up with the West through creative responses to the technological challenge and with Big Push industrialization that has achieved rapid growth through coordinated investment.

    When, in 1947, the British divided and departed their most prized imperial possession, they handed a huge, diverse, and poor society to a small nationalist elite. For decades this elite would uphold a political construct, an idea of India grounded in democracy, religious tolerance, economic development, and cultural pluralism. Sunil Khilnani investigates the fate of this idea, offering incisive portraits of Gandhi, Nehru, and other Indian founders and assessing the lively debates among them and their successors over who is an Indian, the meaning of modernity, and India's place in the world.In a new introduction written for this edition, Khilnani reflects on the book's striking relevance to the country's recent developments--from the rise of a new billionaire class to the election of a government with a more exclusivist conception of Indian identity. Throughout, he provokes readers and illuminates a fundamental question as urgent now as ever: Can the original idea of India survive its own successes?

    This book, essentially an “anarchist history,” is the first-ever examination of the huge literature on state-making whose author evaluates why people would deliberately and reactively remain stateless. Among the strategies employed by the people of Zomia to remain stateless are physical dispersion in rugged terrain; agricultural practices that enhance mobility; pliable ethnic identities; devotion to prophetic, millenarian leaders; and maintenance of a largely oral culture that allows them to reinvent their histories and genealogies as they move between and around states.In accessible language, James Scott, recognized worldwide as an eminent authority in Southeast Asian, peasant, and agrarian studies, tells the story of the peoples of Zomia and their unlikely odyssey in search of self-determination. He redefines our views on Asian politics, history, demographics, and even our fundamental ideas about what constitutes civilization, and challenges us with a radically different approach to history that presents events from the perspective of stateless peoples and redefines state-making as a form of “internal colonialism.” This new perspective requires a radical reevaluation of the civilizational narratives of the lowland states. Scott’s work on Zomia represents a new way to think of area studies that will be applicable to other runaway, fugitive, and marooned communities, be they Gypsies, Cossacks, tribes fleeing slave raiders, Marsh Arabs, or San-Bushmen.

    North's investigation is the question of property rights, the arrangements individuals & groups have made thru history to deal with the fundamental economic problem of scarce resources. In six theoretical chapters, North examines the structure of economic systems, outlines an economic theory of the state & the ideologies that undergird various modes of economic organization, & then explores the dynamic forces such as new technologies that cause institutions to adapt in order to survive. With this analytical framework in place, major phases in Western history come under careful reappraisal, from the origins of agriculture & the neolithic revolution thru the political economy of the ancient & medieval worlds to the industrial revolution & the economic transformations of the 20th century. Structure & Change in Economic History is a work that will reshape many established explanations of the growth of the west.

    Translated by Eliot Weinberger.