This book is an engaging and compelling text. I enjoyed the flow of ideas and the key messages of need and solution that it provides. The authors are articulate and convincing in their crafted messages – as well as passionate. Reading this book is time well spent and both enjoyable and instructional.Brendan Bartlett, Professor of Education, Institute of Learning Sciences Australia, Australian Catholic University
This book will help both policy makers and those working with young people to change lives. In many areas of the world, young people, particularly women, lead impoverished lives. Developing approaches to lifelong action learning with these young adults will provide hope for the future. Emer Clarke, Formerly Area Director of the UK Learning and Skills Council
The plight of millions of young people is clearly worsening as social and economic divisions increase and deepen. This book will serve those well who want to agitate for change and reform based on a belief in social justice and equality of access to learning and economic fairness for all young people.David Davies, Professor Emeritus and Former Executive Dean, University of Derby, UK
This book is a valuable resource, an indispensable text and a must read for all working with young people. What captured my attention most was the way in which it illustrates how access to purposeful learning and development can be provided to marginalized young people. Eldrie Gouws, Professor, Department of Psychology of Education, University of South Africa
This is a significant and far reaching response to the global problem of young adults’ unemployment and lack of educational opportunities, especially in disadvantaged, remote and poverty-stricken communities in developing as well as developed countries. It is of interest to a wide audience of readers, including youth, parents, educators, non-profit organizations, governments and churches.Ortrun Zuber-Skerritt, Co-author, ‘Lifelong Action Learning for Community Development: Learning and Development for a Better World’, Sense Publishers, 2013"div
History is about so much more than memorizing facts. It is, as more than half of the word suggests, about the story. And, told in the right way, it is the greatest one ever written: Good and evil, triumph and tragedy, despicable acts of barbarism and courageous acts of heroism.
The things you’ve never learned about our past will shock you. The reason why gun control is so important to government elites can be found in a story about Athens that no one dares teach. Not the city in ancient Greece, but the one in 1946 Tennessee. The power of an individual who trusts his gut can be found in the story of the man who stopped the twentieth hijacker from being part of 9/11. And a lesson on what happens when an all-powerful president is in need of positive headlines is revealed in a story about eight saboteurs who invaded America during World War II.
Miracles and Massacres is history as you’ve never heard it told. It’s incredible events that you never knew existed. And it’s stories so important and relevant to today that you won’t have to ask, Why didn’t they teach me this? You will instantly know. If the truth shall set you free, then your freedom begins on page one of this book. By the end, your understanding of the lies and half-truths you’ve been taught may change, but your perception of who we are as Americans and where our country is headed definitely will.
“A thrilling account of the modern material world.” —Wall Street Journal
"Miodownik, a materials scientist, explains the history and science behind things such as paper, glass, chocolate, and concrete with an infectious enthusiasm." —Scientific American
Why is glass see-through? What makes elastic stretchy? Why does any material look and behave the way it does? These are the sorts of questions that renowned materials scientist Mark Miodownik constantly asks himself. Miodownik studies objects as ordinary as an envelope and as unexpected as concrete cloth, uncovering the fascinating secrets that hold together our physical world. In Stuff Matters, Miodownik explores the materials he encounters in a typical morning, from the steel in his razor to the foam in his sneakers. Full of enthralling tales of the miracles of engineering that permeate our lives, Stuff Matters will make you see stuff in a whole new way.
"Stuff Matters is about hidden wonders, the astonishing properties of materials we think boring, banal, and unworthy of attention...It's possible this science and these stories have been told elsewhere, but like the best chocolatiers, Miodownik gets the blend right." —New York Times Book Review
Is it culture, the weather, geography? Perhaps ignorance of what the right policies are?
Simply, no. None of these factors is either definitive or destiny. Otherwise, how to explain why Botswana has become one of the fastest growing countries in the world, while other African nations, such as Zimbabwe, the Congo, and Sierra Leone, are mired in poverty and violence?
Daron Acemoglu and James Robinson conclusively show that it is man-made political and economic institutions that underlie economic success (or lack of it). Korea, to take just one of their fascinating examples, is a remarkably homogeneous nation, yet the people of North Korea are among the poorest on earth while their brothers and sisters in South Korea are among the richest. The south forged a society that created incentives, rewarded innovation, and allowed everyone to participate in economic opportunities.
The economic success thus spurred was sustained because the government became accountable and responsive to citizens and the great mass of people. Sadly, the people of the north have endured decades of famine, political repression, and very different economic institutions—with no end in sight. The differences between the Koreas is due to the politics that created these completely different institutional trajectories.
Based on fifteen years of original research Acemoglu and Robinson marshall extraordinary historical evidence from the Roman Empire, the Mayan city-states, medieval Venice, the Soviet Union, Latin America, England, Europe, the United States, and Africa to build a new theory of political economy with great relevance for the big questions of today, including:
- China has built an authoritarian growth machine. Will it continue to grow at such high speed and overwhelm the West?
- Are America’s best days behind it? Are we moving from a virtuous circle in which efforts by elites to aggrandize power are resisted to a vicious one that enriches and empowers a small minority?
- What is the most effective way to help move billions of people from the rut of poverty to prosperity? More philanthropy from the wealthy nations of the West? Or learning the hard-won lessons of Acemoglu and Robinson’s breakthrough ideas on the interplay between inclusive political and economic institutions?
Why Nations Fail will change the way you look at—and understand—the world.
"The tragedies keep coming. As we reel from the latest horror . . ."
So begins a new epilogue, illustrating how Columbine became the template for nearly two decades of "spectacle murders." It is a false script, seized upon by a generation of new killers. In the wake of Newtown, Aurora, and Virginia Tech, the imperative to understand the crime that sparked this plague grows more urgent every year.
What really happened April 20, 1999? The horror left an indelible stamp on the American psyche, but most of what we "know" is wrong. It wasn't about jocks, Goths, or the Trench Coat Mafia. Dave Cullen was one of the first reporters on scene, and spent ten years on this book-widely recognized as the definitive account. With a keen investigative eye and psychological acumen, he draws on mountains of evidence, insight from the world's leading forensic psychologists, and the killers' own words and drawings-several reproduced in a new appendix. Cullen paints raw portraits of two polar opposite killers. They contrast starkly with the flashes of resilience and redemption among the survivors.
A New York Times Bestseller
Selected by New York Times' critic Dwight Garner as a Favorite Book of 2013
One of Amazon's Best Books of 2013
A New York Times Notable Book of 2013
A Washington Post Best Political Book of 2013
An NPR Best Book of 2013
A New Republic Best Book of 2013
One of Publishers Weekly's Best Nonfiction Books of 2013
A Kirkus Reviews Best Nonfiction Book of 2013
A riveting examination of a nation in crisis, from one of the finest political journalists of our generation
American democracy is beset by a sense of crisis. Seismic shifts during a single generation have created a country of winners and losers, allowing unprecedented freedom while rending the social contract, driving the political system to the verge of breakdown, and setting citizens adrift to find new paths forward. In The Unwinding, George Packer, author of The Assassins' Gate: America in Iraq, tells the story of the United States over the past three decades in an utterly original way, with his characteristically sharp eye for detail and gift for weaving together complex narratives.
The Unwinding journeys through the lives of several Americans, including Dean Price, the son of tobacco farmers, who becomes an evangelist for a new economy in the rural South; Tammy Thomas, a factory worker in the Rust Belt trying to survive the collapse of her city; Jeff Connaughton, a Washington insider oscillating between political idealism and the lure of organized money; and Peter Thiel, a Silicon Valley billionaire who questions the Internet's significance and arrives at a radical vision of the future. Packer interweaves these intimate stories with biographical sketches of the era's leading public figures, from Newt Gingrich to Jay-Z, and collages made from newspaper headlines, advertising slogans, and song lyrics that capture the flow of events and their undercurrents.
The Unwinding portrays a superpower in danger of coming apart at the seams, its elites no longer elite, its institutions no longer working, its ordinary people left to improvise their own schemes for success and salvation. Packer's novelistic and kaleidoscopic history of the new America is his most ambitious work to date.
First published by the University of Chicago Press on September 18, 1944, The Road to Serfdom garnered immediate, widespread attention. The first printing of 2,000 copies was exhausted instantly, and within six months more than 30,000 books were sold. In April 1945, Reader’s Digest published a condensed version of the book, and soon thereafter the Book-of-the-Month Club distributed this edition to more than 600,000 readers. A perennial best seller, the book has sold 400,000 copies in the United States alone and has been translated into more than twenty languages, along the way becoming one of the most important and influential books of the century.
With this new edition, The Road to Serfdom takes its place in the series The Collected Works of F. A. Hayek. The volume includes a foreword by series editor and leading Hayek scholar Bruce Caldwell explaining the book's origins and publishing history and assessing common misinterpretations of Hayek's thought. Caldwell has also standardized and corrected Hayek's references and added helpful new explanatory notes. Supplemented with an appendix of related materials ranging from prepublication reports on the initial manuscript to forewords to earlier editions by John Chamberlain, Milton Friedman, and Hayek himself, this new edition of The Road to Serfdom will be the definitive version of Hayek's enduring masterwork.
From the acclaimed, award-winning author of Alexander Hamilton: here is the essential, endlessly engrossing biography of John D. Rockefeller, Sr.—the Jekyll-and-Hyde of American capitalism. In the course of his nearly 98 years, Rockefeller was known as both a rapacious robber baron, whose Standard Oil Company rode roughshod over an industry, and a philanthropist who donated money lavishly to universities and medical centers. He was the terror of his competitors, the bogeyman of reformers, the delight of caricaturists—and an utter enigma.
Drawing on unprecedented access to Rockefeller’s private papers, Chernow reconstructs his subjects’ troubled origins (his father was a swindler and a bigamist) and his single-minded pursuit of wealth. But he also uncovers the profound religiosity that drove him “to give all I could”; his devotion to his father; and the wry sense of humor that made him the country’s most colorful codger. Titan is a magnificent biography—balanced, revelatory, elegantly written.
Remarkably, it was just two years ago that Enron was thought to epitomize a great New Economy company, with its skyrocketing profits and share price. But that was before Fortune published an article by McLean that asked a seemingly innocent question: How exactly does Enron make money? From that point on, Enron's house of cards began to crumble. Now, McLean and Elkind have investigated much deeper, to offer the definitive book about the Enron scandal and the fascinating people behind it.
Meticulously researched and character driven, Smartest Guys in the Room takes the reader deep into Enron's past—and behind the closed doors of private meetings. Drawing on a wide range of unique sources, the book follows Enron's rise from obscurity to the top of the business world to its disastrous demise. It reveals as never before major characters such as Ken Lay, Jeff Skilling, and Andy Fastow, as well as lesser known players like Cliff Baxter and Rebecca Mark. Smartest Guys in the Room is a story of greed, arrogance, and deceit—a microcosm of all that is wrong with American business today. Above all, it's a fascinating human drama that will prove to be the authoritative account of the Enron scandal.
These are the words of Roberto Escobar-the top accountant for the notorious and deadly Medellín Cartel, and brother of Pablo Escobar, the most famous drug lord in history. At the height of his reign, Pablo's multibillion-dollar operation smuggled tons of cocaine each week into countries all over the world. Roberto and his ten accountants kept track of all the money. Only Pablo and Roberto knew where it was stashed-and what it bought.
And the amounts of money were simply staggering. According to Roberto, it cost $2,500 every month just to purchase the rubber bands needed to wrap the stacks of cash. The biggest problem was finding a place to store it: from secret compartments in walls and beneath swimming pools to banks and warehouses everywhere. There was so much money that Roberto would sometimes write off ten percent as "spoilage," meaning either rats had chewed up the bills or dampness had ruined the cash.
Roberto writes about the incredible violence of the cartel, but he also writes of the humanitarian side of his brother. Pablo built entire towns, gave away thousands of houses, paid people's medical expenses, and built schools and hospitals. Yet he was responsible for the horrible deaths of thousands of people.
In short, this is the story of a world of riches almost beyond mortal imagination, and in his own words, Roberto Escobar tells all: building a magnificent zoo at Pablo's opulent home, the brothers' many escapes into the jungles of Colombia, devising ingenious methods to smuggle tons of cocaine into the United States, bribing officials with literally millions of dollars-and building a personal army to protect the Escobar family against an array of enemies sworn to kill them.
Few men in history have been more beloved-or despised-than Pablo Escobar. Now, for the first time, his story is told by the man who knew him best: his brother, Roberto.
* Acquire essential practical knowledge of motors and drives, with a minimum of math and theory
* Updated material on the latest and most widely-used modern motors and drives
* New edition includes additional diagrams and worked examples throughout
Niall Ferguson follows the money to tell the human story behind the evolution of our financial system, from its genesis in ancient Mesopotamia to the latest upheavals on what he calls Planet Finance. What's more, Ferguson reveals financial history as the essential backstory behind all history, arguing that the evolution of credit and debt was as important as any technological innovation in the rise of civilization. As Ferguson traces the crisis from ancient Egypt's Memphis to today's Chongqing, he offers bold and compelling new insights into the rise--and fall--of not just money but Western power as well.
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.
In his bestselling The Russians, Smith took millions of readers inside the Soviet Union. In The Power Game, he took us inside Washington’s corridors of power. Now Smith takes us across America to show how seismic changes, sparked by a sequence of landmark political and economic decisions, have transformed America. As only a veteran reporter can, Smith fits the puzzle together, starting with Lewis Powell’s provocative memo that triggered a political rebellion that dramatically altered the landscape of power from then until today.
This is a book full of surprises and revelations—the accidental beginnings of the 401(k) plan, with disastrous economic consequences for many; the major policy changes that began under Jimmy Carter; how the New Economy disrupted America’s engine of shared prosperity, the “virtuous circle” of growth, and how America lost the title of “Land of Opportunity.” Smith documents the transfer of $6 trillion in middle-class wealth from homeowners to banks even before the housing boom went bust, and how the U.S. policy tilt favoring the rich is stunting America’s economic growth.
This book is essential reading for all of us who want to understand America today, or why average Americans are struggling to keep afloat. Smith reveals how pivotal laws and policies were altered while the public wasn’t looking, how Congress often ignores public opinion, why moderate politicians got shoved to the sidelines, and how Wall Street often wins politically by hiring over 1,400 former government officials as lobbyists.
Smith talks to a wide range of people, telling the stories of Americans high and low. From political leaders such as Bill Clinton, Newt Gingrich, and Martin Luther King, Jr., to CEOs such as Al Dunlap, Bob Galvin, and Andy Grove, to heartland Middle Americans such as airline mechanic Pat O’Neill, software systems manager Kristine Serrano, small businessman John Terboss, and subcontractor Eliseo Guardado, Smith puts a human face on how middle-class America and the American Dream have been undermined.
This magnificent work of history and reportage is filled with the penetrating insights, provocative discoveries, and the great empathy of a master journalist. Finally, Smith offers ideas for restoring America’s great promise and reclaiming the American Dream.
Praise for Who Stole the American Dream?
“[A] sweeping, authoritative examination of the last four decades of the American economic experience.”—The Huffington Post
“Some fine work has been done in explaining the mess we’re in. . . . But no book goes to the headwaters with the precision, detail and accessibility of Smith.”—The Seattle Times
“Sweeping in scope . . . [Smith] posits some steps that could alleviate the problems of the United States.”—USA Today
“Brilliant . . . [a] remarkably comprehensive and coherent analysis of and prescriptions for America’s contemporary economic malaise.”—Kirkus Reviews (starred review)
“Smith enlivens his narrative with portraits of the people caught up in events, humanizing complex subjects often rendered sterile in economic analysis. . . . The human face of the story is inseparable from the history.”—Reuters
Using history, philosophy, books, movies, Lacanian psychiatry, and jokes, Slavoj Žižek examines the ways we perceive and misperceive violence. Drawing from his unique cultural vision, Žižek brings new light to the Paris riots of 2005; he questions the permissiveness of violence in philanthropy; in daring terms, he reflects on the powerful image and determination of contemporary terrorists.
Violence, Žižek states, takes three forms--subjective (crime, terror), objective (racism, hate-speech, discrimination), and systemic (the catastrophic effects of economic and political systems)--and often one form of violence blunts our ability to see the others, raising complicated questions.
Does the advent of capitalism and, indeed, civilization cause more violence than it prevents? Is there violence in the simple idea of "the neighbour"? And could the appropriate form of action against violence today simply be to contemplate, to think?
Beginning with these and other equally contemplative questions, Žižek discusses the inherent violence of globalization, capitalism, fundamentalism, and language, in a work that will confirm his standing as one of our most erudite and incendiary modern thinkers.
The brilliantly reported New York Times bestseller that goes behind the scenes of the financial crisis on Wall Street and in Washington to give the definitive account of the crisis, the basis for the HBO film
“Too Big To Fail is too good to put down. . . . It is the story of the actors in the most extraordinary financial spectacle in 80 years, and it is told brilliantly.” —The Economist
In one of the most gripping financial narratives in decades, Andrew Ross Sorkin—a New York Times columnist and one of the country's most respected financial reporters—delivers the first definitive blow-by-blow account of the epochal economic crisis that brought the world to the brink. Through unprecedented access to the players involved, he re-creates all the drama and turmoil of these turbulent days, revealing never-before-disclosed details and recounting how, motivated as often by ego and greed as by fear and self-preservation, the most powerful men and women in finance and politics decided the fate of the world's economy.
Key Features: * Impacts of new regulation * Simple and clear explanations of generation, transmission and governance * How cleaner fuels and new technology are transforming the industry * The newest environmental standards
Get ready to change the way you think about economics.
Nobel laureate Richard H. Thaler has spent his career studying the radical notion that the central agents in the economy are humans—predictable, error-prone individuals. Misbehaving is his arresting, frequently hilarious account of the struggle to bring an academic discipline back down to earth—and change the way we think about economics, ourselves, and our world.
Traditional economics assumes rational actors. Early in his research, Thaler realized these Spock-like automatons were nothing like real people. Whether buying a clock radio, selling basketball tickets, or applying for a mortgage, we all succumb to biases and make decisions that deviate from the standards of rationality assumed by economists. In other words, we misbehave. More importantly, our misbehavior has serious consequences. Dismissed at first by economists as an amusing sideshow, the study of human miscalculations and their effects on markets now drives efforts to make better decisions in our lives, our businesses, and our governments.
Coupling recent discoveries in human psychology with a practical understanding of incentives and market behavior, Thaler enlightens readers about how to make smarter decisions in an increasingly mystifying world. He reveals how behavioral economic analysis opens up new ways to look at everything from household finance to assigning faculty offices in a new building, to TV game shows, the NFL draft, and businesses like Uber.
Laced with antic stories of Thaler’s spirited battles with the bastions of traditional economic thinking, Misbehaving is a singular look into profound human foibles. When economics meets psychology, the implications for individuals, managers, and policy makers are both profound and entertaining.
Shortlisted for the Financial Times & McKinsey Business Book of the Year Award
Considered among the leading economic thinkers of the “Austrian School,” which includes Carl Menger, Ludwig von Mises, Friedrich (F.A.) Hayek, and others, Henry Hazlitt (1894-1993), was a libertarian philosopher, an economist, and a journalist. He was the founding vice-president of the Foundation for Economic Education and an early editor of The Freeman magazine, an influential libertarian publication. Hazlitt wrote Economics in One Lesson, his seminal work, in 1946. Concise and instructive, it is also deceptively prescient and far-reaching in its efforts to dissemble economic fallacies that are so prevalent they have almost become a new orthodoxy.
Economic commentators across the political spectrum have credited Hazlitt with foreseeing the collapse of the global economy which occurred more than 50 years after the initial publication of Economics in One Lesson. Hazlitt’s focus on non-governmental solutions, strong — and strongly reasoned — anti-deficit position, and general emphasis on free markets, economic liberty of individuals, and the dangers of government intervention make Economics in One Lesson every bit as relevant and valuable today as it has been since publication.
In the ever-evolving field of protective relay technology, an engineer’s personal preference and professional judgment are as important to power system protection as the physical relays used to detect and isolate abnormal conditions.
Invaluable Insights from an Experienced Expert
Protective Relay Principles focuses on probable power system failure modes and the important characteristics of the protective relays used to detect these postulated failures. The book presents useful new concepts in a way that is easier to understand because they are equally relevant to older, electromechanical and solid-state relays, and newer, more versatile microprocessor-based relays. It introduces the applications, considerations, and setting philosophies used in transmission-line, distribution-line, and substation applications, covering concepts associated with general system operations and fault detection. Topics include relay load limits, cold load pickup, voltage recovery, and arc flash. The author also delves into the philosophies that engineers employ in both urban and rural areas, with a detailed consideration of setpoint function.
Analysis of Key Concepts That Are Usually Just Glossed Over
This versatile text is ideal for new engineers to use as a tutorial before they open the instruction manuals that accompany multi-function microprocessor-based relays. Guiding readers through the transient loading conditions that can result in relay misoperation, the author elaborates on concepts that are not generally discussed, but can be very helpful in specific applications. Readers will come away with an excellent grasp of important design considerations for working with overcurrent, over- and undervoltage, impedance, distance, and differential type relay functions, either individually or in combination. Also useful for students as a textbook, this book includes practical examples for many applications, and offers guidance for more unusual ones.
“A rambunctious book that is itself alive with the animal spirits of the marketplace.”—The Wall Street Journal
Freedom’s Forge reveals how two extraordinary American businessmen—General Motors automobile magnate William “Big Bill” Knudsen and shipbuilder Henry J. Kaiser—helped corral, cajole, and inspire business leaders across the country to mobilize the “arsenal of democracy” that propelled the Allies to victory in World War II. Drafting top talent from companies like Chrysler, Republic Steel, Boeing, Lockheed, GE, and Frigidaire, Knudsen and Kaiser turned auto plants into aircraft factories and civilian assembly lines into fountains of munitions. In four short years they transformed America’s army from a hollow shell into a truly global force, laying the foundations for the country’s rise as an economic as well as military superpower. Freedom’s Forge vividly re-creates American industry’s finest hour, when the nation’s business elites put aside their pursuit of profits and set about saving the world.
Praise for Freedom’s Forge
“A rarely told industrial saga, rich with particulars of the growing pains and eventual triumphs of American industry . . . Arthur Herman has set out to right an injustice: the loss, down history’s memory hole, of the epic achievements of American business in helping the United States and its allies win World War II.”—The New York Times Book Review
“Magnificent . . . It’s not often that a historian comes up with a fresh approach to an absolutely critical element of the Allied victory in World War II, but Pulitzer finalist Herman . . . has done just that.”—Kirkus Reviews (starred review)
“A compulsively readable tribute to ‘the miracle of mass production.’ ”—Publishers Weekly
“The production statistics cited by Mr. Herman . . . astound.”—The Economist
“[A] fantastic book.”—Forbes
“Freedom’s Forge is the story of how the ingenuity and energy of the American private sector was turned loose to equip the finest military force on the face of the earth. In an era of gathering threats and shrinking defense budgets, it is a timely lesson told by one of the great historians of our time.”—Donald Rumsfeld
In this wide-ranging and wickedly entertaining book, New York Times bestselling journalist David Sirota takes readers on a rollicking DeLorean ride back in time to reveal how so many of our present-day conflicts are rooted in the larger-than-life pop culture of the 1980s—from the “Greed is good” ethos of Gordon Gekko (and Bernie Madoff) to the “Make my day” foreign policy of Ronald Reagan (and George W. Bush) to the “transcendence” of Cliff Huxtable (and Barack Obama).
Today’s mindless militarism and hypernarcissism, Sirota argues, first became the norm when an ’80s generation weaned on Rambo one-liners and “Just Do It” exhortations embraced a new religion—with comic books, cartoons, sneaker commercials, videogames, and even children’s toys serving as the key instruments of cultural indoctrination. Meanwhile, in productions such as Back to the Future, Family Ties, and The Big Chill, a campaign was launched to reimagine the 1950s as America’s lost golden age and vilify the 1960s as the source of all our troubles. That 1980s revisionism, Sirota shows, still rages today, with Barack Obama cast as the 60s hippie being assailed by Alex P. Keaton–esque Republicans who long for a return to Eisenhower-era conservatism.
“The past is never dead,” William Faulkner wrote. “It’s not even past.” The 1980s—even more so. With the native dexterity only a child of the Atari Age could possess, David Sirota twists and turns this multicolored Rubik’s Cube of a decade, exposing it as a warning for our own troubled present—and possible future.
From the Hardcover edition.
One of our wisest and most clear-eyed economic thinkers offers a masterful narrative of the crisis and its lessons.
Many fine books on the financial crisis were first drafts of history—books written to fill the need for immediate understanding. Alan S. Blinder, esteemed Princeton professor, Wall Street Journal columnist, and former vice chairman of the Federal Reserve Board, held off, taking the time to understand the crisis and to think his way through to a truly comprehensive and coherent narrative of how the worst economic crisis in postwar American history happened, what the government did to fight it, and what we can do from here—mired as we still are in its wreckage.
With bracing clarity, Blinder shows us how the U.S. financial system, which had grown far too complex for its own good—and too unregulated for the public good—experienced a perfect storm beginning in 2007. Things started unraveling when the much-chronicled housing bubble burst, but the ensuing implosion of what Blinder calls the “bond bubble” was larger and more devastating. Some people think of the financial industry as a sideshow with little relevance to the real economy—where the jobs, factories, and shops are. But finance is more like the circulatory system of the economic body: if the blood stops flowing, the body goes into cardiac arrest. When America’s financial structure crumbled, the damage proved to be not only deep, but wide. It took the crisis for the world to discover, to its horror, just how truly interconnected—and fragile—the global financial system is. Some observers argue that large global forces were the major culprits of the crisis. Blinder disagrees, arguing that the problem started in the U.S. and was pushed abroad, as complex, opaque, and overrated investment products were exported to a hungry world, which was nearly poisoned by them.
The second part of the story explains how American and international government intervention kept us from a total meltdown. Many of the U.S. government’s actions, particularly the Fed’s, were previously unimaginable. And to an amazing—and certainly misunderstood—extent, they worked. The worst did not happen. Blinder offers clear-eyed answers to the questions still before us, even if some of the choices ahead are as divisive as they are unavoidable. After the Music Stopped is an essential history that we cannot afford to forget, because one thing history teaches is that it will happen again.
In the decades following the Civil War, America entered an era of unprecedented corporate expansion, with ultimate financial power in the hands of a few wealthy industrialists who exploited the system for everything it was worth. The Rockefellers, Fords, Morgans, and Vanderbilts were the “lords of creation” who, along with like-minded magnates, controlled the economic destiny of the country, unrestrained by regulations or moral imperatives. Through a combination of foresight, ingenuity, ruthlessness, and greed, America’s giants of industry remolded the US economy in their own image. They established their power and authority, ensuring that they—and they alone—would control the means of production, transportation, energy, and commerce—creating the conditions for the stock market collapse of 1929 and the Great Depression that followed.
As modern society continues to be affected by wealth inequality and cycles of boom and bust, it’s as important as ever to understand the origins of financial disaster, and the policies, practices, and people who bring them on. The Lords of Creation, first published when the catastrophe of the 1930s was still painfully fresh, is a fascinating story of bankers, railroad tycoons, steel magnates, speculators, scoundrels, and robber barons. It is a tale of innovation and shocking exploitation—and a sobering reminder that history can indeed repeat itself.
The latest entry in the University of Chicago Press’s series of newly edited editions of Hayek’s works, The Constitution of Liberty is, like Serfdom, just as relevant to our present moment. The book is considered Hayek’s classic statement on the ideals of freedom and liberty, ideals that he believes have guided—and must continue to guide—the growth of Western civilization. Here Hayek defends the principles of a free society, casting a skeptical eye on the growth of the welfare state and examining the challenges to freedom posed by an ever expanding government—as well as its corrosive effect on the creation, preservation, and utilization of knowledge. In opposition to those who call for the state to play a greater role in society, Hayek puts forward a nuanced argument for prudence. Guided by this quality, he elegantly demonstrates that a free market system in a democratic polity—under the rule of law and with strong constitutional protections of individual rights—represents the best chance for the continuing existence of liberty.
Striking a balance between skepticism and hope, Hayek’s profound insights are timelier and more welcome than ever before. This definitive edition of The Constitution of Liberty will give a new generation the opportunity to learn from his enduring wisdom.
In looking at the forces that brought our current administration to power one thing is clear: much of the population believes that our economic system is rigged to enrich the privileged elites at the expense of hard-working Americans. This is a belief held equally on both sides of political spectrum, and it seems only to be gaining momentum.
A key reason, says Financial Times columnist Rana Foroohar, is the fact that Wall Street is no longer supporting Main Street businesses that create the jobs for the middle and working class. She draws on in-depth reporting and interviews at the highest rungs of business and government to show how the “financialization of America”—the phenomenon by which finance and its way of thinking have come to dominate every corner of business—is threatening the American Dream.
Now updated with new material explaining how our corrupted financial system propelled Donald Trump to power, Makers and Takers explores the confluence of forces that has led American businesses to favor balance-sheet engineering over the actual kind, greed over growth, and short-term profits over putting people to work. From the cozy relationship between Wall Street and Washington, to a tax code designed to benefit wealthy individuals and corporations, to forty years of bad policy decisions, she shows why so many Americans have lost trust in the system, and why it matters urgently to us all.
Through colorful stories of both “Takers,” those stifling job creation while lining their own pockets, and “Makers,” businesses serving the real economy, Foroohar shows how we can reverse these trends for a better path forward.
Before smartphones, back even before the Internet and personal computers, a misfit group of technophiles, blind teenagers, hippies, and outlaws figured out how to hack the world’s largest machine: the telephone system. Starting with Alexander Graham Bell’s revolutionary “harmonic telegraph,” by the middle of the twentieth century the phone system had grown into something extraordinary, a web of cutting-edge switching machines and human operators that linked together millions of people like never before. But the network had a billion-dollar flaw, and once people discovered it, things would never be the same.
Exploding the Phone tells this story in full for the first time. It traces the birth of long-distance communication and the telephone, the rise of AT&T’s monopoly, the creation of the sophisticated machines that made it all work, and the discovery of Ma Bell’s Achilles heel. Phil Lapsley expertly weaves together the clandestine underground of “phone phreaks” who turned the network into their electronic playground, the mobsters who exploited its flaws to avoid the feds, the explosion of telephone hacking in the counterculture, and the war between the phreaks, the phone company, and the FBI.
The product of extensive original research, Exploding the Phone is a ground-breaking, captivating book that “does for the phone phreaks what Steven Levy’s Hackers did for computer pioneers” (Boing Boing).
“An authoritative, jaunty and enjoyable account of their sometimes comical, sometimes impressive and sometimes disquieting misdeeds.” —The Wall Street Journal
“Brilliantly researched.” —The Atlantic
“A fantastically fun romp through the world of early phone hackers, who sought free long distance, and in the end helped launch the computer era.” —The Seattle Times
Bac Si (the Vietnamese term for “medic”) is the story of Sgt. Jerry Krizan who was assigned to Special Forces Camp A-331 in the III Corps tactical zone, only 10 miles from the Cambodian border. Because of its proximity to a major north-south NVA infiltration route, there were constant enemy troop movements through the camp's area of operations and A-331 itself came under attack on more than one occasion.
The author meantime needed to accompany patrols and probes into enemy territory, not only prepared to provide aid but fight as a soldier if the squad was ambushed, or itself chose to attack. In this small-unit warfare against an expert enemy, U.S. soldiers had to survive as best they could, with their only succor a Huey, and meantime on the ground by themselves against unknown opposition.
Our Green Beret base camps were our very first line of defense along the borders of South Vietnam, and in this book, through the eyes of a medic, we learn how dire, and confusing, a role we asked our Special Forces to play during that era.
Trillions of dollars in assets and fundamental political power are changing hands as free markets wrest control from government of the "commanding heights" -- the dominant businesses and industries of the world economy. Daniel Yergin and Joseph Stanislaw demonstrate that words like "privatization" and "deregulation" are inadequate to describe the enormous upheaval that is unfolding before our eyes. Along with the creation of vast new wealth, the map of the global economy is being redrawn. Indeed, the very structure of society is changing. New markets and new opportunities have brought great new risks as well. How has all this come about? Who are the major figures behind it? How does it affect our lives?
The collapse of the Soviet Union, the awesome rise of China, the awakening of India, economic revival in Latin America, the march toward the European Union -- all are a part of this political and economic revolution. Fiscal realities and financial markets are relentlessly propelling deregulation; achieving a new balance between government and marketplace will be the major political challenge in the coming years. Looking back, the authors describe how the old balance was overturned, and by whom. Looking forward, they explore these questions: Will the new balance prevail? Or does the free market contain the seeds of its own destruction? Will there be a backlash against any excesses of the free market? And finally, The Commanding Heights illuminates the five tests by which the success or failure of all these changes can be measured, and defines the key issues as we enter the twenty-first century.
The Commanding Heights captures this revolution in ideas in riveting accounts of the history and the politics of the postwar years and compelling tales of the astute politicians, brilliant thinkers, and tenacious businessmen who brought these changes about. Margaret Thatcher, Donald Reagan, Deng Xiaoping, and Bill Clinton share the stage with the "Minister of Thought" Keith Joseph, the broommaker's son Domingo Cavallo, and Friedrich von Hayek, the Austrian economist who was determined to win the twenty-year "battle of ideas." It is a complex and wide-ranging story, and the authors tell it brilliantly, with a deep understanding of human character, making critically important ideas lucid and accessible. Written with unique access to many of the key players, The Commanding Heights, like no other book, brings us an understanding of the last half of the twentieth century -- and sheds a powerful light on what lies ahead in the twenty-first century.
The first half of the book focuses on water chillers and the second half addresses cooling towers. In both sections, the author includes the following material:
Fundamentals—basic information about systems and equipment, including how they and their various components work Design and Application—equipment sizing, selection, and application; details of piping, control, and water treatment; and special considerations such as noise control, electrical service, fire protection, and energy efficiency Operations and Maintenance—commissioning and programmed maintenance of components and systems, with guidelines and recommended specifications for procurement
This up-to-date book provides HVAC designers, building owners, operating and maintenance staff, architects, and mechanical contractors with definitive and practical guidance on the application, design, purchase, operation, and maintenance of water chillers and cooling towers. It offers helpful information for you to use on a daily basis, including checklists and troubleshooting guidelines.
all the devils are here."
-Shakespeare, The Tempest
As soon as the financial crisis erupted, the finger-pointing began. Should the blame fall on Wall Street, Main Street, or Pennsylvania Avenue? On greedy traders, misguided regulators, sleazy subprime companies, cowardly legislators, or clueless home buyers?
According to Bethany McLean and Joe Nocera, two of America's most acclaimed business journalists, the real answer is all of the above-and more. Many devils helped bring hell to the economy. And the full story, in all of its complexity and detail, is like the legend of the blind men and the elephant. Almost everyone has missed the big picture. Almost no one has put all the pieces together.
All the Devils Are Here goes back several decades to weave the hidden history of the financial crisis in a way no previous book has done. It explores the motivations of everyone from famous CEOs, cabinet secretaries, and politicians to anonymous lenders, borrowers, analysts, and Wall Street traders. It delves into the powerful American mythology of homeownership. And it proves that the crisis ultimately wasn't about finance at all; it was about human nature.
Among the devils you'll meet in vivid detail:
• Angelo Mozilo, the CEO of Countrywide, who dreamed of spreading homeownership to the masses, only to succumb to the peer pressure-and the outsized profits-of the sleaziest subprime lending.
• Roland Arnall, a respected philanthropist and diplomat, who made his fortune building Ameriquest, a subprime lending empire that relied on blatantly deceptive lending practices.
• Hank Greenberg, who built AIG into a Rube Goldberg contraption with an undeserved triple-A rating, and who ran it so tightly that he was the only one who knew where all the bodies were buried.
• Stan O'Neal of Merrill Lynch, aloof and suspicious, who suffered from "Goldman envy" and drove a proud old firm into the ground by promoting cronies and pushing out his smartest lieutenants.
• Lloyd Blankfein, who helped turn Goldman Sachs from a culture that famously put clients first to one that made clients secondary to its own bottom line.
• Franklin Raines of Fannie Mae, who (like his predecessors) bullied regulators into submission and let his firm drift away from its original, noble mission.
• Brian Clarkson of Moody's, who aggressively pushed to increase his rating agency's market share and stock price, at the cost of its integrity.
• Alan Greenspan, the legendary maestro of the Federal Reserve, who ignored the evidence of a growing housing bubble and turned a blind eye to the lending practices that ultimately brought down Wall Street-and inflicted enormous pain on the country.
Just as McLean's The Smartest Guys in the Room was hailed as the best Enron book on a crowded shelf, so will All the Devils Are Here be remembered for finally making sense of the meltdown and its consequences.
Neil Irwin’s The Alchemists is a gripping account of the most intense exercise in economic crisis management we’ve ever seen, a poker game in which the stakes have run into the trillions of dollars. The book begins in, of all places, Stockholm, Sweden, in the seventeenth century, where central banking had its rocky birth, and then progresses through a brisk but dazzling tutorial on how the central banker came to exert such vast influence over our world, from its troubled beginnings to the Age of Greenspan, bringing the reader into the present with a marvelous handle on how these figures and institutions became what they are – the possessors of extraordinary power over our collective fate. What they chose to do with those powers is the heart of the story Irwin tells.
Irwin covered the Fed and other central banks from the earliest days of the crisis for the Washington Post, enjoying privileged access to leading central bankers and people close to them. His account, based on reporting that took place in 27 cities in 11 countries, is the holistic, truly global story of the central bankers’ role in the world economy we have been missing. It is a landmark reckoning with central bankers and their power, with the great financial crisis of our time, and with the history of the relationship between capitalism and the state. Definitive, revelatory, and riveting, The Alchemists shows us where money comes from—and where it may well be going.
“In spirit, Tamny does for economics what the Gutenberg printing press did for the Bible, making a previously inaccessible subject open to all. Equally important, he does to economists what Toto did to the Wizard of Oz: pulling aside the curtain to expose the fraud that has become modern economics.” —Steve Forbes, Chairman and Editor-in-Chief, Forbes Media
“Ignore John Tamny’s easy to read Popular Economics at your own moral peril. It’s as close to spiritual as you get in this realm—a better tutorial than any econ text.” - Ken Fisher, Founder & CEO, Fisher Investments
“John’s book is many things. It’s a great way to learn economics, it’s a very strong case for economic liberty, and it is an epic myth-buster. I will be giving it out to friends, of all viewpoints, for a long, long time.” - Cliff Asness, Managing Principal, AQR Capital
In Popular Economics: What the Rolling Stones, Downton Abbey, and LeBron James Can Teach You About Economics (Regnery Publishing; April 13, 2015; $27.99) Tamny translates the so-called difficult and intimidating subject of economics into plain language, revealing that there is nothing mysterious about finance, commerce, and budgets. In fact, we are all microeconomists in our daily lives.
“Economics is easy, and its lessons are all around us,” says Tamny. “But Americans have allowed the so-called ‘experts’ to convince them they can’t understand, much less grow the economy. Happily, economic growth is simple, too. If you can understand the four basic elements of economic growth—taxes, regulation, trade, and money— prosperity will explode.”
Much like Freakonomics, Tamny uses pop culture and engaging stories to illustrate how understanding our economy is common sense—just look no further than the movies we enjoy, the sports we watch, and what we do every day.
In Popular Economics, you’ll discover:
How Paris Hilton and the Dallas Cowboys help illustrate good and bad tax policy How Facebook and Monday Night Football demonstrate the debilitating effect of antitrust regulation How the simple act of cooking chicken wings reveals why the “floating dollar” is a recipe for disaster Why Downton Abbey and ESPN are evidence that the U.S. should bulldoze its tax code
Sometime around 1750, English entrepreneurs unleashed the astounding energies of steam and coal, and the world was forever changed. The emergence of factories, railroads, and gunboats propelled the West's rise to power in the nineteenth century, and the development of computers and nuclear weapons in the twentieth century secured its global supremacy. Now, at the beginning of the twenty-first century, many worry that the emerging economic power of China and India spells the end of the West as a superpower. In order to understand this possibility, we need to look back in time. Why has the West dominated the globe for the past two hundred years, and will its power last?
Describing the patterns of human history, the archaeologist and historian Ian Morris offers surprising new answers to both questions. It is not, he reveals, differences of race or culture, or even the strivings of great individuals, that explain Western dominance. It is the effects of geography on the everyday efforts of ordinary people as they deal with crises of resources, disease, migration, and climate. As geography and human ingenuity continue to interact, the world will change in astonishing ways, transforming Western rule in the process.
Deeply researched and brilliantly argued, Why the West Rules—for Now spans fifty thousand years of history and offers fresh insights on nearly every page. The book brings together the latest findings across disciplines—from ancient history to neuroscience—not only to explain why the West came to rule the world but also to predict what the future will bring in the next hundred years.
*Marty Brown, author and power supply design consultant, has personally selected all content for its relevance and usefulness
*Covers best design practices for switching power supplies and power converters
*Emphasis is on pragmatic solutions to commonly encountered design problems and tasks
Witness some of the fiercest fighting of the Iraq War and some of the most rewarding and forward-looking civil affairs projects aimed at rebuilding the broken nation of Iraq. Read how the town in Oregon struggles to do without the people - the accountants, lawyers, mechanics, et. al. - who went to serve in the war.
The Devil's Sandbox offers a rare insight into what this war means for the citizen-soldier at home and abroad, and chronicles a battalion that earned the respect of the regular Army soldiers who fought alongside them in some of the toughest battles in the Iraq war./div
Topics covered in the handbook include:Processes to enhance productionWell modification to maximize oil and gas recoveryCompletion and evaluation of wells, well testing, and well surveys
Reservoir Engineering Handbook, Fourth Edition provides solid information and insight for engineers and students alike on maximizing production from a field in order to obtain the best possible economic return. With this handbook, professionals will find a valuable reference for understanding the key relationships among the different operating variables. Examples contained in this reference demonstrate the performance of processes under forceful conditions through a wide variety of applications.
• Fundamental for the advancement of reservoir engineering concepts
• Step-by-step field performance calculations
• Easy to understand analysis of oil recovery mechanisms
• Step-by-step analysis of oil recovery mechanisms
• New chapter on fractured reservoirs
Thoroughly revised throughout, Linden's Handbook of Batteries, Fourth Editions provides authoritative coverage of the characteristics, properties, and performance of every major battery type. New information on emerging battery systems and their applications is included in this definitive volume. International experts offer unparalleled technical guidance on using leading-edge technologies, materials, and methods in new designs and products, and selecting the most suitable battery for a particular application. All of the in-depth data you need is contained in this comprehensive resource. The book will be useful to graduate students, battery researchers, applications engineers, and all others interested in the state-of-the-art in battery technology.
Linden's Handbook of Batteries, Fourth Edition covers:PRINCIPLES OF OPERATION PRIMARY AND SECONDARY BATTERIES SPECIALIZED BATTERY SYSTEMS FUEL CELLS AND ELECTROCHEMICAL CAPACITORS
Includes new chapters on:Battery modeling Battery electrolytes Lithium-ion batteries Battery selection for consumer electronics Batteries for electric, hybrid, and plug-in hybrid vehicles Batteries for electrical energy storage systems Batteries for biomedical applications Button cell batteries Batteries for military and space applications, including reserve water-activated and reserve military batteries Electrochemical capacitors
The Andes Mountains are the world’s longest mountain chain, linking most of the countries in South America. Kim MacQuarrie takes us on a historical journey through this unique region, bringing fresh insight and contemporary connections to such fabled characters as Charles Darwin, Che Guevara, Pablo Escobar, Butch Cassidy, Thor Heyerdahl, and others. He describes living on the floating islands of Lake Titcaca. He introduces us to a Patagonian woman who is the last living speaker of her language. We meet the woman who cared for the wounded Che Guevara just before he died, the police officer who captured cocaine king Pablo Escobar, the dancer who hid Shining Path guerrilla Abimael Guzman, and a man whose grandfather witnessed the death of Butch Cassidy.
Collectively these stories tell us something about the spirit of South America. What makes South America different from other continents—and what makes the cultures of the Andes different from other cultures found there? How did the capitalism introduced by the Spaniards change South America? Why did Shining Path leader Guzman nearly succeed in his revolutionary quest while Che Guevara in Bolivia was a complete failure in his?
“MacQuarrie writes smartly and engagingly and with…enthusiasm about the variety of South America’s life and landscape” (The New York Times Book Review) in Life and Death in the Andes. Based on the author’s own deeply observed travels, “this is a well-written, immersive work that history aficionados, particularly those with an affinity for Latin America, will relish” (Library Journal).
One of The Economist's 2011 Books of the Year
The New York Times's Pulitzer Prize-winning columnist reveals how the financial meltdown emerged from the toxic interplay of Washington, Wall Street, and corrupt mortgage lenders
In Reckless Endangerment, Gretchen Morgenson, the star business columnist of The New York Times, exposes how the watchdogs who were supposed to protect the country from financial harm were actually complicit in the actions that finally blew up the American economy.
Drawing on previously untapped sources and building on original research from coauthor Joshua Rosner—who himself raised early warnings with the public and investors, and kept detailed records—Morgenson connects the dots that led to this fiasco.
Morgenson and Rosner draw back the curtain on Fannie Mae, the mortgage-finance giant that grew, with the support of the Clinton administration, through the 1990s, becoming a major opponent of government oversight even as it was benefiting from public subsidies. They expose the role played not only by Fannie Mae executives but also by enablers at Countrywide Financial, Goldman Sachs, the Federal Reserve, HUD, Congress, the FDIC, and the biggest players on Wall Street, to show how greed, aggression, and fear led countless officials to ignore warning signs of an imminent disaster.
Character-rich and definitive in its analysis, this is the one account of the financial crisis you must read.
With boundless erudition and in delightfully clear prose, Surowiecki ranges across fields as diverse as popular culture, psychology, ant biology, behavioral economics, artificial intelligence, military history, and politics to show how this simple idea offers important lessons for how we live our lives, select our leaders, run our companies, and think about our world.
Electrical Insulation for Rotating Machines: Design,Evaluation, Aging, Testing, and Repair, Second Edition coversall aspects in the design, deterioration, testing, and repair ofthe electrical insulation used in motors and generators of allratings greater than fractional horsepower size. It discusses bothrotor and stator windings; gives a historical overview of machineinsulation design; and describes the materials and manufacturingmethods of the rotor and stator winding insulation systems incurrent use (while covering systems made over fifty years ago). Itcovers how to select the insulation systems for use in newmachines, and explains over thirty different rotor and statorwinding failure processes, including the methods to repair, orleast slow down, each process. Finally, it reviews the theoreticalbasis, practical application, and interpretation of forty differenttests and monitors that are used to assess winding insulationcondition, thereby helping machine users avoid unnecessary machinefailures and reduce maintenance costs.
Electrical Insulation for Rotating Machines:Documents the large array of machine electrical failuremechanisms, repair methods, and test techniques that are currentlyavailableEducates owners of machines as well as repair shops on thedifferent failure processes and shows them how to fix or otherwiseameliorate themOffers chapters on testing, monitoring, and maintenancestrategies that assist in educating machine users and repair shopson the tests needed for specific situations and how to minimizemotor and generator maintenance costsCaptures the state of both the present and past“art” in rotating machine insulation system design andmanufacture, which helps designers learn from the knowledgeacquired by previous generations
An ideal read for researchers, developers, and manufacturers ofelectrical insulating materials for machines, ElectricalInsulation for Rotating Machines will also benefit designers ofmotors and generators who must select and apply electricalinsulation in machines.
“A fascinating account of the effort to save the world from another [Great Depression]. . . . Humanity should be grateful.”—Financial Times
In 2006, Ben S. Bernanke was appointed chair of the Federal Reserve, the unexpected apex of a personal journey from small-town South Carolina to prestigious academic appointments and finally public service in Washington’s halls of power.
There would be no time to celebrate.
The bursting of a housing bubble in 2007 exposed the hidden vulnerabilities of the global financial system, bringing it to the brink of meltdown. From the implosion of the investment bank Bear Stearns to the unprecedented bailout of insurance giant AIG, efforts to arrest the financial contagion consumed Bernanke and his team at the Fed. Around the clock, they fought the crisis with every tool at their disposal to keep the United States and world economies afloat.
Working with two U.S. presidents, and under fire from a fractious Congress and a public incensed by behavior on Wall Street, the Fed—alongside colleagues in the Treasury Department—successfully stabilized a teetering financial system. With creativity and decisiveness, they prevented an economic collapse of unimaginable scale and went on to craft the unorthodox programs that would help revive the U.S. economy and become the model for other countries.
Rich with detail of the decision-making process in Washington and indelible portraits of the major players, The Courage to Act recounts and explains the worst financial crisis and economic slump in America since the Great Depression, providing an insider’s account of the policy response.
In her Pulitzer Prize-winning examination of the last century of American history, Samantha Power asks the haunting question: Why do American leaders who vow "never again" repeatedly fail to stop genocide? Power, a professor at the Harvard Kennedy School and the former US Ambassador to the United Nations, draws upon exclusive interviews with Washington's top policymakers, thousands of declassified documents, and her own reporting from modern killing fields to provide the answer. "A Problem from Hell" shows how decent Americans inside and outside government refused to get involved despite chilling warnings, and tells the stories of the courageous Americans who risked their careers and lives in an effort to get the United States to act. A modern classic, "A Problem from Hell" has forever reshaped debates about American foreign policy.
Winner of the Pulitzer Prize
Winner of the Robert F. Kennedy Book Award
Winner of the National Book Critics Circle Award
Winner of the J. Anthony Lukas Book Prize
Winner of the Anisfield-Wolf Book Award
Winner of the Raphael Lemkin Award
But the anticapitalist arguments are pure bunk, as Thomas J. DiLorenzo reveals in How Capitalism Saved America. DiLorenzo, a professor of economics, shows how capitalism has made America the most prosperous nation on earth—and how the sort of government regulation that politicians and pundits endorse has hindered economic growth, caused higher unemployment, raised prices, and created many other problems. He propels the reader along with a fresh and compelling look at critical events in American history—covering everything from the Pilgrims to Bill Gates.
And just as he did in his last book, The Real Lincoln, DiLorenzo explodes numerous myths that have become conventional wisdom. How Capitalism Saved America reveals:
• How the introduction of a capitalist system saved the Pilgrims from starvation
• How the American Revolution was in large part a revolt against Britain’s stifling economic controls
• How the so-called robber barons actually improved the lives of millions of Americans by providing newer and better products at lower prices
• How the New Deal made the Great Depression worse
• How deregulation got this country out of the energy crisis of the 1970s—and was not the cause of recent blackouts in California and the Northeast
• And much more
How Capitalism Saved America is popular history at its explosive best.
From the Hardcover edition.