That richer, fairer, cooler, safer world is possible, practical, even profitable-because saving and replacing fossil fuels now works better and costs no more than buying and burning them. Reinventing Fire shows how business-motivated by profit, supported by civil society, sped by smart policy-can get the US completely off oil and coal by 2050, and later beyond natural gas as well.
Authored by a world leader on energy and innovation, the book maps a robust path for integrating real, here-and-now, comprehensive energy solutions in four industries-transportation, buildings, electricity, and manufacturing-melding radically efficient energy use with reliable, secure, renewable energy supplies.Popular in tone and rooted in applied hope, Reinventing Fire shows how smart businesses are creating a potent, global, market-driven, and explosively growing movement to defossilize fuels. It points readers to trillions in savings over the next 40 years, and trillions more in new business opportunities.Whether you care most about national security, or jobs and competitive advantage, or climate and environment, this major contribution by world leaders in energy innovation offers startling innovations will support your values, inspire your support, and transform your sense of possibility.Pragmatic citizens today are more interested in outcomes than motives. Reinventing Fire answers this trans-ideological call. Whether you care most about national security, or jobs and competitive advantage, or climate and environment, its startling innovations will support your values, inspire your support, and transform your sense of possibility.
A master storyteller as well as a leading energy expert, Daniel Yergin continues the riveting story begun in his Pulitzer Prize–winning book, The Prize. In The Quest, Yergin shows us how energy is an engine of global political and economic change and conflict, in a story that spans the energies on which our civilization has been built and the new energies that are competing to replace them.
The Quest tells the inside stories, tackles the tough questions, and reveals surprising insights about coal, electricity, and natural gas. He explains how climate change became a great issue and leads readers through the rebirth of renewable energies, energy independence, and the return of the electric car. Epic in scope and never more timely, The Quest vividly reveals the decisions, technologies, and individuals that are shaping our future.
Things looked grim for American energy in 2006, but a handful of wildcatters were determined to tap massive deposits of oil and gas that giants like Exxon and Chevron had ignored. They risked everything on a new process called fracking. Within a few years, they solved America’s dependence on imported energy, triggered a global environmental controversy, and made and lost astonishing fortunes.
No one understands the frackers—their ambitions, personalities, and foibles—better than Wall Street Journal reporter Gregory Zuckerman. His exclusive access drives this dramatic narrative, which stretches from North Dakota to Texas to Wall Street.
In short, either we embrace radical change ourselves or radical changes will be visited upon our physical world. The status quo is no longer an option.
In This Changes Everything Naomi Klein argues that climate change isn’t just another issue to be neatly filed between taxes and health care. It’s an alarm that calls us to fix an economic system that is already failing us in many ways. Klein meticulously builds the case for how massively reducing our greenhouse emissions is our best chance to simultaneously reduce gaping inequalities, re-imagine our broken democracies, and rebuild our gutted local economies. She exposes the ideological desperation of the climate-change deniers, the messianic delusions of the would-be geoengineers, and the tragic defeatism of too many mainstream green initiatives. And she demonstrates precisely why the market has not—and cannot—fix the climate crisis but will instead make things worse, with ever more extreme and ecologically damaging extraction methods, accompanied by rampant disaster capitalism.
Klein argues that the changes to our relationship with nature and one another that are required to respond to the climate crisis humanely should not be viewed as grim penance, but rather as a kind of gift—a catalyst to transform broken economic and cultural priorities and to heal long-festering historical wounds. And she documents the inspiring movements that have already begun this process: communities that are not just refusing to be sites of further fossil fuel extraction but are building the next, regeneration-based economies right now.
Can we pull off these changes in time? Nothing is certain. Nothing except that climate change changes everything. And for a very brief time, the nature of that change is still up to us.
The United States is in the midst of an economic implosion that could make the Great Depression look like child's play. In THE CRASH OF 2016, Thom Hartmann argues that the facade of our once-great United States will soon disintegrate to reveal the rotting core where corporate and billionaire power and greed have replaced democratic infrastructure and governance. Our once-enlightened political and economic systems have been manipulated to ensure the success of only a fraction of the population at the expense of the rest of us.
The result is a "for the rich, by the rich" scheme leading to policies that only benefit the highest bidders. Hartmann outlines the destructive forces-planted by Lewis Powell in 1971 and come to fruition with the "Reagan Revolution"-that have looted our nation over the past decade, and how their actions fit into a cycle of American history that lets such forces rise to power every four generations.
However, a backlash is now palpable against the "economic royalists"-a term coined by FDR to describe those hoarding power and wealth-including the banksters, oligarchs, and politicians who have plunged our nation into economic chaos and social instability.
Although we are in the midst of what could become the most catastrophic economic crash in American History, a way forward is emerging, just as it did in the previous great crashes of the 1760s, 1856, and 1929. The choices we make now will redefine American culture. Before us stands a genuine opportunity to embrace the moral motive over the profit motive-and to rebuild the American economic model that once yielded great success.
Thoroughly researched and passionately argued, THE CRASH OF 2016 is not just a roadmap to redemption in post-Crash America, but a critical wake-up call, challenging us to act. Only if the right reforms are enacted and the moral choices are made, can we avert disaster and make our nation whole again.
Both a riveting account of a life spent pulling off improbable triumphs and a report back from the front of the global-energy and natural-resource wars, The First Billion Is the Hardest tells the story of the remarkable late-life comeback that brought the famed oilman and maverick back from bankruptcy and clinical depression. Along the way, the man often called the “Oracle of Oil” shares the insights that have made him a legend–and describes the billion-dollar bets he is now making in hopes of securing America’s energy independence.
“Sassy...breezes along...salted with earthy aphorisms.”—Bloomberg.com
“Boone’s analysis of America’s energy situation is 100 percent on the money....The country should listen to him–now!” —Warren Buffett, chairman and CEO, Berkshire Hathaway
“Self-deprecating and audacious...overall, it’s decidedly informative about the machinations of business.” –Dallas Morning News
“A fascinating, eye-opening book by one of America’s greatest iconoclasts and entrepreneurs. Boone Pickens’ sense of daring and innovation has never been sharper.”–Steve Forbes, president and CEO, Forbes Inc., and editor in chief of Forbes magazine
From the Trade Paperback edition.
At its peak, hedge fund Amaranth Advisors LLC had more than $9 billion in assets. A few weeks later, it completely collapsed. The disaster was largely triggered by one man: thirty-two-year-old hotshot trader Brian Hunter. His high-risk bets on natural gas prices bankrupted his firm and destroyed his career, while John Arnold, his rival at competitor fund Centaurus, emerged as the highest-paid trader on Wall Street. Meticulously researched and character-driven, Hedge Hogs is a riveting fly-on-the-wall account of the largest hedge fund collapse in history: a blistering tale of the recent past that explains our precarious present . . . and may predict our future.
Using emails, instant messages, court testimony, and exclusive interviews, securities analyst turned investigative reporter Barbara T. Dreyfuss charts the colliding paths of these two charismatic traders who dominated the speculative energy market. We follow Brian Hunter, the Canadian farm boy and elbows-out high school basketball star, as he achieves phenomenal early success, only to see his ambition, greed, and hubris precipitate his downfall. Set in relief is the journey of John Arnold, whose mild manner, sophisticated tastes, and low profile belied his own ferocious competitive streak. As the two clash, hundreds of millions of dollars in pension and endowment money is imperiled, with devastating public consequences.
Hedge Hogs takes you behind closed doors into the shadowy world of hedge funds, the unregulated wild side of finance, where over-the-top parties and lavish perks abound and billions of dollars of other people’s money are in the hands of a tiny elite. Dreyfuss traces the rise of this freewheeling industry while detailing the decades of bank, hedge fund, and commodity deregulation that turned Wall Street into a speculative casino.
A gripping saga peppered with fast money, vivid characters, and high drama, Hedge Hogs is also an important and timely cautionary tale—a vivisection of a financial system jeopardized by reckless practices, watered-down regulation, and loopholes in government oversight, just waiting for the next bust.
Praise for Hedge Hogs
“Regulators, legislators and judges inclined to sympathize with the industry ought to rush out and buy a copy of Barbara Dreyfuss’s Hedge Hogs, a wonderfully instructive tale about Amaranth Advisors. . . . Dreyfuss, a Wall Street analyst turned investigative journalist, not only plowed through what turned out to be a treasure trove of official records and transcripts, but supplemented it with plenty of her own reporting. She manages to organize it all into a tight, riveting and understandable yarn.”—The Washington Post
“Clearly and entertainingly told . . . a salutary example of how traders who believe they are super-smart might be nothing more than lucky, and how there is nothing so intoxicating as the ability to speculate with other people’s money.”—The Economist
“[Dreyfuss] does a great job of putting Amaranth’s out-of-control trader into historical context, explaining the blitz of deregulation that set the stage for someone like Hunter to do maximum damage.”—Bloomberg
“The definitive take on the largest hedge fund collapse in history . . . You will not be able to put it down.”—Frank Partnoy, author of F.I.A.S.C.O. and Infectious Greed
Named One of the Top 10 Business & Economics Books of the Season by Publishers Weekly
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
The same Silicon Valley ecosystem that created bit-based technologies that have disrupted atom-based industries is now creating bit- and electron-based technologies that will disrupt atom-based energy industries.
Clean Disruption projections (based on technology cost curves, business model innovation as well as product innovation) show that by 2030:
- All new energy will be provided by solar or wind.
- All new mass-market vehicles will be electric.
- All of these vehicles will be autonomous (self-driving) or semi-autonomous.
- The new car market will shrink by 80%.
- Even assuming that EVs don't kill the gasoline car by 2030, the self-driving car will shrink the new car market by 80%.
- Gasoline will be obsolete. Nuclear is already obsolete.
- Up to 80% of highways will be redundant.
- Up to 80% of parking spaces will be redundant.
- The concept of individual car ownership will be obsolete.
- The Car Insurance industry will be disrupted.
The Stone Age did not end because we ran out of rocks. It ended because a disruptive technology ushered in the Bronze Age. The era of centralized, command-and-control, extraction-resource-based energy sources (oil, gas, coal and nuclear) will not end because we run out of petroleum, natural gas, coal, or uranium. It will end because these energy sources, the business models they employ, and the products that sustain them will be disrupted by superior technologies, product architectures, and business models.
This is a technology-based disruption reminiscent of how the cell phone, Internet, and personal computer swept away industries such as landline telephony, publishing, and mainframe computers. Just like those technology disruptions flipped the architecture of information and brought abundant, cheap and participatory information, the clean disruption will flip the architecture of energy and bring abundant, cheap and participatory energy.
Just like those previous technology disruptions, the Clean Disruption is inevitable and it will be swift.
For decades, environmentalists have told us that using fossil fuels is a self-destructive addiction that will destroy our planet. Yet at the same time, by every measure of human well-being, from life expectancy to clean water to climate safety, life has been getting better and better.
How can this be?
The explanation, energy expert Alex Epstein argues in The Moral Case for Fossil Fuels, is that we usually hear only one side of the story. We’re taught to think only of the negatives of fossil fuels, their risks and side effects, but not their positives—their unique ability to provide cheap, reliable energy for a world of seven billion people. And the moral significance of cheap, reliable energy, Epstein argues, is woefully underrated. Energy is our ability to improve every single aspect of life, whether economic or environmental.
If we look at the big picture of fossil fuels compared with the alternatives, the overall impact of using fossil fuels is to make the world a far better place. We are morally obligated to use more fossil fuels for the sake of our economy and our environment.
Drawing on original insights and cutting-edge research, Epstein argues that most of what we hear about fossil fuels is a myth. For instance . . .
Myth: Fossil fuels are dirty.
Truth: The environmental benefits of using fossil fuels far outweigh the risks. Fossil fuels don’t take a naturally clean environment and make it dirty; they take a naturally dirty environment and make it clean. They don’t take a naturally safe climate and make it dangerous; they take a naturally dangerous climate and make it ever safer.
Myth: Fossil fuels are unsustainable, so we should strive to use “renewable” solar and wind.
Truth: The sun and wind are intermittent, unreliable fuels that always need backup from a reliable source of energy—usually fossil fuels. There are huge amounts of fossil fuels left, and we have plenty of time to find something cheaper.
Myth: Fossil fuels are hurting the developing world.
Truth: Fossil fuels are the key to improving the quality of life for billions of people in the developing world. If we withhold them, access to clean water plummets, critical medical machines like incubators become impossible to operate, and life expectancy drops significantly. Calls to “get off fossil fuels” are calls to degrade the lives of innocent people who merely want the same opportunities we enjoy in the West.
Taking everything into account, including the facts about climate change, Epstein argues that “fossil fuels are easy to misunderstand and demonize, but they are absolutely good to use. And they absolutely need to be championed. . . . Mankind’s use of fossil fuels is supremely virtuous—because human life is the standard of value and because using fossil fuels transforms our environment to make it wonderful for human life.”
The book's main focus is primarily on the equipment and processes used in exploring new resources; evaluating promising formations; drilling wells; managing oil and gas production; converting oil and gas into products; and transporting oil and gas. Separate chapters address the evolution and current structure of the petroleum industry; oil and gas trading; and challenges likely to face the oil and gas industry in coming years.
Three appendices define key industry terminology; suggest further reading on selected topics; and identify organizations that can provide more information.
The book has two themes: one, the idea of preventing damage, and preventing formation from drilling into an oil formation to putting the well introduction stage; and two, the utilization of nodal system analysis method, which optimizes the pressure distribution from reservoir to well head, and plays the sensitivity analysis to design the tubing diameters first and then the production casing size, so as to achieve whole system optimization. With this book, drilling and production engineers should be able to improve operational efficiency by applying the latest state of the art technology in all facets of well completion during development drilling-completion and work over operations.One of the only books devoted to the key technologies for all major aspects of advanced well completion activities.Unique coverage of all aspects of well completion activities based on 25 years in the exploration, production and completion industry.Matchless in-depth technical advice for achieving operational excellence with advance solutions.
As he re-creates these extraordinary events, John Vaillant gives us an unforgettable portrait of this spectacularly beautiful and mysterious region. We meet the native tribes who for centuries have worshipped and lived alongside tigers, even sharing their kills with them. We witness the arrival of Russian settlers in the nineteenth and early twentieth centuries, soldiers and hunters who greatly diminished the tiger populations. And we come to know their descendants, who, crushed by poverty, have turned to poaching and further upset the natural balance of the region.
This ancient, tenuous relationship between man and predator is at the very heart of this remarkable book. Throughout we encounter surprising theories of how humans and tigers may have evolved to coexist, how we may have developed as scavengers rather than hunters, and how early Homo sapiens may have fit seamlessly into the tiger’s ecosystem. Above all, we come to understand the endangered Siberian tiger, a highly intelligent super-predator that can grow to ten feet long, weigh more than six hundred pounds, and range daily over vast territories of forest and mountain.
Beautifully written and deeply informative, The Tiger circles around three main characters: Vladimir Markov, a poacher killed by the tiger; Yuri Trush, the lead tracker; and the tiger himself. It is an absolutely gripping tale of man and nature that leads inexorably to a final showdown in a clearing deep in the taiga.
From the Hardcover edition.
Jim Rogers is leading a grand collaborative effort to bring sustainable, clean electrical power to everyone who lacks it. This reverse engineering, he contends, could solve the energy crises of America and Europe, while also making the world a cleaner, smarter place. But it won't be easy. In Lighting the World, Rogers details the bold thinking, international cooperation, and political will required to illuminate the future for everyone.
With their timely new book, authors Andrew Inkpen and Michael H. Moffett have written a nontechnical book to help readers with technical backgrounds better understand the business of oil and gas. They describe and analyze the global oil and gas industry, focusing on its strategic, financial, and business aspects and addressing a wide range of topics organized around the oil and gas industry value chain, starting with exploration and ending with products sold to consumers.
The Global Oil & Gas Industry is a single source for anyone interested in how the business of the world�s largest industry actually works: business executives, students, government officials and regulators, professionals working in the industry, and the general public.
A Washington Post Best Book of the Year
A Businessweek Best Business Book of the Year
A Chicago Tribune Best Book of the Year
In this brilliant, essential book, Pulitzer Prize-winning author Thomas L. Friedman speaks to America's urgent need for national renewal and explains how a green revolution can bring about both a sustainable environment and a sustainable America.
Friedman explains how global warming, rapidly growing populations, and the expansion of the world's middle class through globalization have produced a dangerously unstable planet--one that is "hot, flat, and crowded." In this Release 2.0 edition, he also shows how the very habits that led us to ravage the natural world led to the meltdown of the financial markets and the Great Recession. The challenge of a sustainable way of life presents the United States with an opportunity not only to rebuild its economy, but to lead the world in radically innovating toward cleaner energy. And it could inspire Americans to something we haven't seen in a long time--nation-building in America--by summoning the intelligence, creativity, and concern for the common good that are our greatest national resources.
Hot, Flat, and Crowded is classic Thomas L. Friedman: fearless, incisive, forward-looking, and rich in surprising common sense about the challenge--and the promise--of the future.
Marcus Samuel, Jr., is an unorthodox Jewish merchant trader. Henri Deterding is a take-no-prisoners oilman. In 1889, John D. Rockefeller is at the peak of his power. Having annihilated all competition and possessing near-total domination of the market, even the U.S. government is wary of challenging the great “anaconda” of Standard Oil. The Standard never loses—that is until Samuel and Deterding team up to form Royal Dutch Shell.
A riveting account of ambition, oil, and greed, Breaking Rockefeller traces Samuel’s rise from outsider to the heights of the British aristocracy, Deterding’s conquest of America, and the collapse of Rockefeller’s monopoly. The beginning of the twentieth century is a time when vast fortunes were made and lost. Taking readers through the rough and tumble of East London’s streets, the twilight turmoil of czarist Russia, to the halls of the British Parliament, and right down Broadway in New York City, Peter Doran offers a richly detailed, fresh perspective on how Samuel and Deterding beat the world’s richest man at his own game.
In Our Renewable Future, energy expert Richard Heinberg and scientist David Fridley explore the challenges and opportunities presented by the shift to renewable energy. Beginning with a comprehensive overview of our currenergy system, the authors survey issues of energy supply and demand in key sectors of the economy, including electricity generation, transportation, buildings, and manufacturing. In their detailed review of each sector, the authors examine the mcrucial challenges we face, from intermittency in fuel sources to energy storage and grid redesign. The book concludes with a discussion of energy and equity and a summary of key lessons and steps forward at the individual, community, and national level.
The transition to clean energy will not be a simple matter of replacing coal with wind power or oil with solar; it will require us to adapt our energy usage as dramatically as we adapt our energy sources. Our Renewable Future is a clear-eyed and urgguide to this transformation that will be a crucial resource for policymakers and energy activists.
In its desperate search for oil and gas riches, Alberta is destroying itself. As the world teeters on the edge of catastrophic climate change, Alberta plunges ahead with uncontrolled development of its fossil fuels, levelling its northern Boreal forest to get at the oil sands, and carpet-bombing its southern half with tens of thousands of gas wells. In so doing, it is running out of water, destroying its range land, wiping out its forests and wildlife and spewing huge amounts of greenhouse gases into the atmosphere, adding to global warming at a rate that is unrivalled in Canada or almost anywhere else in the world. It’s digging, drilling and blasting its way to oblivion, becoming the ultimate symbol of Canada’s – and the world’s – pathological will to self-destruct.
Nowhere has the world seen such colossal environmental destruction as is being wreaked on Alberta. At one point the province even went so far as to consider a scientist’s idea of nuking its underbelly to get at the tar sands. Stupid to the Last Drop looks at the increasingly violent geopolitical forces that are gathering as the world’s gas and oil dwindle and the Age of Oil begins its inevitable slide towards oblivion. As Canadians deplete their energy reserves, selling them off to Americans at bargain-basement prices, no thought is given to conservation or the long-term needs of the nation.
In this powerful polemic, William Marsden journeys across the heart of a province seized by the destructive forces of greed, power and the energy business, and envisions a very bleak future.
From the Hardcover edition.
Each new disaster demonstrates that the nuclear industry and governments lie to "avoid panic," to preserve the myth of "safe, clean" nuclear power, and to sustain government subsidies. Tokyo and Washington both covered up Fukushima's radiation risks and-when confronted with damning evidence-simply raised the levels of "acceptable" risk to match the greater levels of exposure.
Nuclear Roulette dismantles the core arguments behind the nuclear-industrial complex's "Nuclear Renaissance." While some critiques are familiar-nuclear power is too costly, too dangerous, and too unstable-others are surprising: Nuclear Roulette exposes historic links to nuclear weapons, impacts on Indigenous lands and lives, and the ways in which the Nuclear Regulatory Commission too often takes its lead from industry, rewriting rules to keep failing plants in compliance. Nuclear Roulette cites NRC records showing how corporations routinely defer maintenance and lists resulting "near-misses" in the US, which average more than one per month.
Nuclear Roulette chronicles the problems of aging reactors, uncovers the costly challenge of decommissioning, explores the industry's greatest seismic risks-not on California's quake-prone coast but in the Midwest and Southeast-and explains how solar flares could black out power grids, causing the world's 400-plus reactors to self-destruct. This powerful exposé concludes with a roundup of proven and potential energy solutions that can replace nuclear technology with a "Renewable Renaissance," combined with conservation programs that can cleanse the air, and cool the planet.
Perhaps no president has a more ambiguous reputation than LBJ. A brilliant tactician, he maneuvered colleagues and turned bills into law better than anyone. But he was trailed by a legacy of underhanded dealings, from his "stolen†? Senate election in 1948 to kickbacks he artfully concealed from deals engineered with Texas wheeler-dealer Billie Sol Estes and defense contractors like his longtime supporter Brown & Root. On the verge of investigation, Johnson was reprieved when he became president upon JFK's assassination. Among the remaining mysteries has been LBJ's relationship to Mac Wallace who, in 1951, shot a Texas man having an affair with LBJ's loose-cannon sister Josefa, also Wallace's lover. When arrested, Wallace cooly said "I work for Johnson…I need to get back to Washington." Charged with murder, he was overnight defended by LBJ's powerful lawyer John Cofer, and though convicted, amazingly received a suspended sentence. He then got high-security clearance from LBJ friend and defense contractor D.H. Byrd, which the Office of Naval Intelligence tried to revoke for 11 years without success.
Using crucial Life magazine and Naval Intelligence files and the unredacted FBI files on Mac Wallace, never before utilized by others, investigative writer Joan Mellen skillfully connects these two disparate Texas lives and lends stark credence to the dark side of Lyndon Johnson that has largely gone unsubstantiated.
Described as “a page-turner filled with greed, duplicity, heartache, and bare-knuckle legal brinksmanship by The New York Times, A Civil Action is the searing, compelling tale of a legal system gone awry—one in which greed and power fight an unending struggle against justice. Yet it is also the story of how one man can ultimately make a difference. Representing the bereaved parents, the unlikeliest of heroes emerges: a young, flamboyant Porsche-driving lawyer who hopes to win millions of dollars and ends up nearly losing everything, including his sanity. With an unstoppable narrative power reminiscent of Truman Capote’s In Cold Blood, A Civil Action is an unforgettable reading experience that will leave the reader both shocked and enlightened.
A Civil Action was made into a movie starring John Travolta and Robert Duvall.
From the Trade Paperback edition.
In the last century, three powerful forces—oil, cars, and suburbs—buoyed the American dream. Yet now, the quality of life in the United States is declining due to these same three forces. Our dependence on oil is a root cause of wars, recessions, and natural disasters. Cars consume an outsize share of our incomes and force us to squander time in traffic. Meanwhile, expensive, spread-out suburbs devour farmland—and in a vicious cycle, further entrench our reliance on cars and oil.
In Terra Nova, conservation ecologist Eric W. Sanderson—the national bestselling author of Mannahatta—offers concrete steps toward a solution. He delves into natural history, architecture, chemistry, and politics, to show how the American relationship to nature has shaped our past, and how it can affect our future. Illustrated throughout with maps, charts, and infographics, Terra Nova demonstrates that it is indeed possible to achieve a better world.
“Sanderson commendably outlines ‘a new way of life . . . designed to sustain American prosperity, health, and freedom for generations to come.’” —Publishers Weekly
We all know that the very rich have gotten a lot richer these past few decades while most Americans haven’t. In fact, the exorbitantly paid have continued to thrive during the current economic crisis, even as the rest of Americans have continued to fall behind. Why do the “haveit- alls” have so much more? And how have they managed to restructure the economy to reap the lion’s share of the gains and shift the costs of their new economic playground downward, tearing new holes in the safety net and saddling all of us with increased debt and risk? Lots of so-called experts claim to have solved this great mystery, but no one has really gotten to the bottom of it—until now.
In their lively and provocative Winner-Take-All Politics, renowned political scientists Jacob S. Hacker and Paul Pierson demonstrate convincingly that the usual suspects—foreign trade and financial globalization, technological changes in the workplace, increased education at the top—are largely innocent of the charges against them. Instead, they indict an unlikely suspect and take us on an entertaining tour of the mountain of evidence against the culprit. The guilty party is American politics. Runaway inequality and the present economic crisis reflect what government has done to aid the rich and what it has not done to safeguard the interests of the middle class. The winner-take-all economy is primarily a result of winner-take-all politics.
In an innovative historical departure, Hacker and Pierson trace the rise of the winner-take-all economy back to the late 1970s when, under a Democratic president and a Democratic Congress, a major transformation of American politics occurred. With big business and conservative ideologues organizing themselves to undo the regulations and progressive tax policies that had helped ensure a fair distribution of economic rewards, deregulation got under way, taxes were cut for the wealthiest, and business decisively defeated labor in Washington. And this transformation continued under Reagan and the Bushes as well as under Clinton, with both parties catering to the interests of those at the very top. Hacker and Pierson’s gripping narration of the epic battles waged during President Obama’s first two years in office reveals an unpleasant but catalyzing truth: winner-take-all politics, while under challenge, is still very much with us.
Winner-Take-All Politics—part revelatory history, part political analysis, part intellectual journey— shows how a political system that traditionally has been responsive to the interests of the middle class has been hijacked by the superrich. In doing so, it not only changes how we think about American politics, but also points the way to rebuilding a democracy that serves the interests of the many rather than just those of the wealthy few.
Economist and resource analyst Jeff Rubin is certain that the world's governments are getting it wrong. Instead of moving us toward economic recovery, the measures being taken around the globe right now are digging us into a deeper hole. Both politicians and economists are missing the fact that the real engine of economic growth has always been cheap, abundant fuel and resources. But that era is over. The end of cheap oil, Rubin argues, signals the end of growth--and the end of easy answers to renewing prosperity.
With China and India sucking up the lion's share of the world's ever more limited resources, the rest of us will have to make do with less. But is this all bad? Rubin points out that there is no research to show that people living in countries with hard-charging economies are happier, and plenty of research to show that some of the most contented people on the planet live in places with no growth or slow growth. But bad or good, it's the new reality, and Rubin reveals how our day-to-day lives will be drastically changed.