Debt: The First 5,000 Years
David Graeber - 2011
The problem with this version of history? There’s not a shred of evidence to support it.Here anthropologist David Graeber presents a stunning reversal of conventional wisdom. He shows that for more than 5,000 years, since the beginnings of the first agrarian empires, humans have used elaborate credit systems to buy and sell goods—that is, long before the invention of coins or cash. It is in this era, Graeber argues, that we also first encounter a society divided into debtors and creditors. Graeber shows that arguments about debt and debt forgiveness have been at the center of political debates from Italy to China, as well as sparking innumerable insurrections. He also brilliantly demonstrates that the language of the ancient works of law and religion (words like “guilt,” “sin,” and “redemption”) derive in large part from ancient debates about debt, and shape even our most basic ideas of right and wrong. We are still fighting these battles today without knowing it.Debt: The First 5,000 Years is a fascinating chronicle of this little known history—as well as how it has defined human history, and what it means for the credit crisis of the present day and the future of our economy.
When Money Dies: The Nightmare Of The Weimar Hyper Inflation
Adam Fergusson - 1975
In 1923, with its currency effectively worthless (the exchange rate in December of that year was one dollar to 4,200,000,000,000 marks), the German republic was all but reduced to a barter economy. Expensive cigars, artworks, and jewels were routinely exchanged for staples such as bread; a cinema ticket could be bought for a lump of coal; and a bottle of paraffin for a silk shirt. People watched helplessly as their life savings disappeared and their loved ones starved. Germany’s finances descended into chaos, with severe social unrest in its wake.
Money may no longer be physically printed and distributed in the voluminous quantities of 1923. However, “quantitative easing,” that modern euphemism for surreptitious deficit financing in an electronic era, can no less become an assault on monetary discipline. Whatever the reason for a country’s deficit necessity or profligacy, unwillingness to tax or blindness to expenditure it is beguiling to suppose that if the day of reckoning is postponed economic recovery will come in time to prevent higher unemployment or deeper recession. What if it does not? Germany in 1923 provides a vivid, compelling, sobering moral tale.
The Fourth Turning: What the Cycles of History Tell Us about America's Next Rendezvous with Destiny
William Strauss - 1996
With blazing originality, The Fourth Turning illuminates the past, explains the present, and reimagines the future. Most remarkably, it offers an utterly persuasive prophecy about how America's past will predict its future.Strauss and Howe base this vision on a provocative theory of American history. The authors look back five hundred years and uncover a distinct pattern: Modern history moves in cycles, each one lasting about the length of a long human life, each composed of four eras--or turnings--that last about twenty years and that always arrive in the same order. In The Fourth Turning, the authors illustrate these cycles using a brilliant analysis of the post-World War II period.First comes a High, a period of confident expansion as a new order takes root after the old has been swept away. Next comes an Awakening, a time of spiritual exploration and rebellion against the now-established order. Then comes an Unraveling, an increasingly troubled era in which individualism triumphs over crumbling institutions. Last comes a Crisis--the Fourth Turning--when society passes through a great and perilous gate in history. Together, the four turnings comprise history's seasonal rhythm of growth, maturation, entropy, and rebirth.The Fourth Turning offers bold predictions about how all of us can prepare, individually and collectively, for America's next rendezvous with destiny.
Weapons of Math Destruction: How Big Data Increases Inequality and Threatens Democracy
Cathy O'Neil - 2016
Increasingly, the decisions that affect our lives--where we go to school, whether we can get a job or a loan, how much we pay for health insurance--are being made not by humans, but by machines. In theory, this should lead to greater fairness: Everyone is judged according to the same rules.But as mathematician and data scientist Cathy O'Neil reveals, the mathematical models being used today are unregulated and uncontestable, even when they're wrong. Most troubling, they reinforce discrimination--propping up the lucky, punishing the downtrodden, and undermining our democracy in the process.
American Kingpin: The Epic Hunt for the Criminal Mastermind Behind the Silk Road
Nick Bilton - 2017
In 2011, a twenty-six-year-old libertarian programmer named Ross Ulbricht launched the ultimate free market: the Silk Road, a clandestine Web site hosted on the Dark Web where anyone could trade anything—drugs, hacking software, forged passports, counterfeit cash, poisons—free of the government’s watchful eye. It wasn’t long before the media got wind of the new Web site where anyone—not just teenagers and weed dealers but terrorists and black hat hackers—could buy and sell contraband detection-free. Spurred by a public outcry, the federal government launched an epic two-year manhunt for the site’s elusive proprietor, with no leads, no witnesses, and no clear jurisdiction. All the investigators knew was that whoever was running the site called himself the Dread Pirate Roberts. The Silk Road quickly ballooned into $1.2 billion enterprise, and Ross embraced his new role as kingpin. He enlisted a loyal crew of allies in high and low places, all as addicted to the danger and thrill of running an illegal marketplace as their customers were to the heroin they sold. Through his network he got wind of the target on his back and took drastic steps to protect himself—including ordering a hit on a former employee. As Ross made plans to disappear forever, the Feds raced against the clock to catch a man they weren’t sure even existed, searching for a needle in the haystack of the global Internet.Drawing on exclusive access to key players and two billion digital words and images Ross left behind, Vanity Fair correspondent and New York Times bestselling author Nick Bilton offers a tale filled with twists and turns, lucky breaks and unbelievable close calls. It’s a story of the boy next door’s ambition gone criminal, spurred on by the clash between the new world of libertarian-leaning, anonymous, decentralized Web advocates and the old world of government control, order, and the rule of law. Filled with unforgettable characters and capped by an astonishing climax, American Kingpin might be dismissed as too outrageous for fiction. But it’s all too real.
You Have the Right to Remain Innocent
James Duane - 2016
Duane became a viral sensation thanks to a 2008 lecture outlining the reasons why you should never agree to answer questions from the police—especially if you are innocent and wish to stay out of trouble with the law. In this timely, relevant, and pragmatic new book, he expands on that presentation, offering a vigorous defense of every citizen’s constitutionally protected right to avoid self-incrimination. Getting a lawyer is not only the best policy, Professor Duane argues, it’s also the advice law-enforcement professionals give their own kids.Using actual case histories of innocent men and women exonerated after decades in prison because of information they voluntarily gave to police, Professor Duane demonstrates the critical importance of a constitutional right not well or widely understood by the average American. Reflecting the most recent attitudes of the Supreme Court, Professor Duane argues that it is now even easier for police to use your own words against you. This lively and informative guide explains what everyone needs to know to protect themselves and those they love.
A Warning
Anonymous - 2019
An unprecedented behind-the-scenes portrait of the Trump presidency from the anonymous senior official whose first words of warning about the president rocked the nation's capital.
Bad Blood: Secrets and Lies in a Silicon Valley Startup
John Carreyrou - 2018
Backed by investors such as Larry Ellison and Tim Draper, Theranos sold shares in a fundraising round that valued the company at $9 billion, putting Holmes's worth at an estimated $4.7 billion. There was just one problem: The technology didn't work.For years, Holmes had been misleading investors, FDA officials, and her own employees. When Carreyrou, working at The Wall Street Journal, got a tip from a former Theranos employee and started asking questions, both Carreyrou and the Journal were threatened with lawsuits. Undaunted, the newspaper ran the first of dozens of Theranos articles in late 2015. By early 2017, the company's value was zero and Holmes faced potential legal action from the government and her investors. Here is the riveting story of the biggest corporate fraud since Enron, a disturbing cautionary tale set amid the bold promises and gold-rush frenzy of Silicon Valley.
The Next Decade: What the World Will Look Like
George Friedman - 2011
The next ten years will be a time of massive transition. The wars in the Islamic world will be subsiding, and terrorism will become something we learn to live with. China will be encountering its crisis. We will be moving from a time when financial crises dominate the world to a time when labor shortages will begin to dominate. The new century will be taking shape in the next decade. In The Next Decade, George Friedman offers readers a provocative and endlessly fascinating prognosis for the immediate future. Using Machiavelli’s The Prince as a model, Friedman focuses on the world’s leaders—particularly the American president—and with his trusted geopolitical insight analyzes the complex chess game they will all have to play. The book also asks how to be a good president in a decade of extraordinary challenge, and puts the world’s leaders under a microscope to explain how they will arrive at the decisions they will make—and the consequences these actions will have for us all.From the Hardcover edition.
The Informant
Kurt Eichenwald - 2000
A page-turning true story of international scandal and corruption at the very highest levels of corporate America, this thriller unveils botched crimes, courtroom drama, suicide attempts, and an immense tangle of lies and deception.
Plutocrats: The Rise of the New Global Super Rich and the Fall of Everyone Else
Chrystia Freeland - 2012
Forget the 1%; it's the wealthiest .01% who are fast outpacing the rest of us. Today's colossal fortunes are amassed by the diligent toiling of smart, perceptive businessmen who see themselves as deserving victors in a cutthroat international competition. Cracking open this tight-knit world is Chrystia Freeland, an acclaimed business journalist. At ease in Davos or Dubai, Freeland has reported on the lives and minds of these new super-elites for nearly a decade. Grounding her interviews in the economics and history of modern capitalism, she provides examples of the new wealth and its consequences. She showcases the $3 million birthday party of a New York financier months before the financial meltdown; details the closed-door 2005 SEC meeting where the US government allowed investment banks to write their own regulatory laws; and tells how the Bank of Canada's Mark Carney became a key figure in the central battle between the plutocracy and the rest of us. Brightly written and powerfully researched, Freeland's Plutocrats will be a lightning rod event in the midst of the US election season.
Back to Work: Why We Need Smart Government for a Strong Economy
Bill Clinton - 2011
He supports President Obama’s emphasis on green technology, saying that changing the way we produce and consume energy is the strategy most likely to spark a fast-growing economy while enhancing our national security.Clinton also stresses that we need a strong private sector and a smart government working together to restore prosperity and progress, demonstrating that whenever we’ve given in to the temptation to blame government for all our problems, we’ve lost our ability to produce sustained economic growth and shared prosperity.Clinton writes, “There is simply no evidence that we can succeed in the twenty-first century with an antigovernment strategy,” based on “a philosophy grounded in ‘you’re on your own’ rather than ‘we’re all in this together.’ ” He believes that conflict between government and the private sector has proved to be good politics but has produced bad policies, giving us a weak economy with not enough jobs, growing income inequality and poverty, and a decline in our competitive position. In the real world, cooperation works much better than conflict, and “Americans need victories in real life.”
An Inquiry into the Nature and Causes of the Wealth of Nations
Adam Smith - 1776
Written in clear and incisive prose, The Wealth of Nations articulates the concepts indispensable to an understanding of contemporary society; and Robert Reich's Introduction both clarifies Smith's analyses and illuminates his overall relevance to the world in which we live. As Reich writes, "Smith's mind ranged over issues as fresh and topical today as they were in the late eighteenth century--jobs, wages, politics, government, trade, education, business, and ethics."Introduction by Robert Reich - Commentary by R. H. Campbell and A. S. Skinner - Includes a Modern Library Reading Group Guide
Decisions: Life and Death on Wall Street (Kindle Single)
Janet M. Tavakoli - 2015
A prominent bank CEO seems on the verge of a nervous breakdown.In Washington D.C., a former Wall Street regulator checks into a hotel using the name of a hedge fund manager for an illicit meeting with a prostitute. In a D.C. suburb, the CFO of a beleaguered mortgage giant chooses a drastic personal end to “relentless pressure”.In a picturesque suburb of Zug, Switzerland, the CFO of a major insurance company decides to end his life. In London, a financier kills himself in a way he once said he never would.In her new memoir, Janet Tavakoli shines a bright light on the money-driven culture of Wall Street and Washington, and the life and death consequences of our decisions that put profit above all.Approximately 16,000 words of text (not including front and back matter and references. 105 total pages)Praise for Decisions"Tavakoli takes us on a scenic tour of the recent lowlights of Wall Street and Washington...demystified and rendered tragically human. It's a compelling tale.” Jake Bernstein, winner of the Pulitzer Prize for National Reporting "Merrill Debauchery Only Begins This Woman's Tale... 'Neither Bill nor I believed Calvi committed suicide,' Tavakoli writes. 'Bill joked that he'd never hang himself. It was too gruesome.'"Bloomberg News "Janet Tavakoli is a born storyteller with an incredible tale to tell. She takes us on a br /isk journey from the depravity of 1980s Wall Street to the systemic recklessness that crushed the global economy.”Nomi Prins, author of All the Presidents' Bankers “An authority on credit derivatives, has written a reflective memoir about life in the world of finance. Tavakoli is not a woman who employs words carelessly, and when she says fraud she means ... fraud.”
All About Alpha
Praise for Janet M. Tavakoli“She knows her stuff, has strong opinions, and turns a colourful quote.”
Financial Times
“Janet Tavakoli knows more about the inside of the financial world than nearly anyone else!”Jim Rogers, Author of Street Smarts - Adventures on the Road and in the Markets“Intelligent analyst whose command of the arcane world...mixed with a brutally honest analytical framework makes it a pleasure to read her work.”
Asia Times Online
Revolution
Russell Brand - 2014
Our governments are corrupt and the opposing parties pointlessly similar. Our culture is filled with vacuity and pap, and we are told there’s nothing we can do: “It’s just the way things are.” In this book, Russell Brand hilariously lacerates the straw men and paper tigers of our conformist times and presents, with the help of experts as diverse as Thomas Piketty and George Orwell, a vision for a fairer, sexier society that’s fun and inclusive. You have been lied to, told there’s no alternative, no choice, and that you don’t deserve any better. Brand destroys this illusory facade as amusingly and deftly as he annihilates Morning Joe anchors, Fox News fascists, and BBC stalwarts. This book makes revolution not only possible but inevitable and fun.