General Alex Dumas is a man almost unknown today, yet his story is strikingly familiar—because his son, the novelist Alexandre Dumas, used his larger-than-life feats as inspiration for such classics as The Count of Monte Cristo and The Three Musketeers.
But, hidden behind General Dumas's swashbuckling adventures was an even more incredible secret: he was the son of a black slave—who rose higher in the white world than any man of his race would before our own time. Born in Saint-Domingue (now Haiti), Alex Dumas made his way to Paris, where he rose to command armies at the height of the Revolution—until he met an implacable enemy he could not defeat.
The Black Count is simultaneously a riveting adventure story, a lushly textured evocation of 18th-century France, and a window into the modern world’s first multi-racial society. TIME magazine called The Black Count "one of those quintessentially human stories of strength and courage that sheds light on the historical moment that made it possible." But it is also a heartbreaking story of the enduring bonds of love between a father and son.
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.
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.
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.
Not all pioneers went west.
In The Greater Journey, David McCullough tells the enthralling, inspiring—and until now, untold—story of the adventurous American artists, writers, doctors, politicians, and others who set off for Paris in the years between 1830 and 1900, hungry to learn and to excel in their work. What they achieved would profoundly alter American history.
Elizabeth Blackwell, the first female doctor in America, was one of this intrepid band. Another was Charles Sumner, whose encounters with black students at the Sorbonne inspired him to become the most powerful voice for abolition in the US Senate. Friends James Fenimore Cooper and Samuel F. B. Morse worked unrelentingly every day in Paris, Morse not only painting what would be his masterpiece, but also bringing home his momentous idea for the telegraph. Harriet Beecher Stowe traveled to Paris to escape the controversy generated by her book, Uncle Tom’s Cabin. Three of the greatest American artists ever—sculptor Augustus Saint-Gaudens, painters Mary Cassatt and John Singer Sargent—flourished in Paris, inspired by French masters.
Almost forgotten today, the heroic American ambassador Elihu Washburne bravely remained at his post through the Franco-Prussian War, the long Siege of Paris, and the nightmare of the Commune. His vivid diary account of the starvation and suffering endured by the people of Paris is published here for the first time.
Telling their stories with power and intimacy, McCullough brings us into the lives of remarkable men and women who, in Saint-Gaudens’ phrase, longed “to soar into the blue.
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.
From the Trade Paperback edition.
Indeed, France has captivated us for centuries. Here, in this compelling history from acclaimed historian Marshall B. Davison, is its story: from prehistory to its conquest by Julius Caesar; from its invasion by the Franks, who gave us the name we use today, to the reign of Charlemagne; from the rule of the Bourbon monarchs, who reached their apex under the Sun King, Louis XIV, to the bloody days of the French Revolution; from the ruthless rise and reign of Napoleon Bonaparte to the brutal Nazi occupation during World War II. This book is a must-read for any Francophile.
Many are familiar with the story of the much-married King Henry VIII of England and the celebrated reign of his daughter, Elizabeth I. But it is often forgotten that the life of the first Tudor queen, Elizabeth of York, Henry’s mother and Elizabeth’s grandmother, spanned one of England’s most dramatic and perilous periods. Now New York Times bestselling author and acclaimed historian Alison Weir presents the first modern biography of this extraordinary woman, whose very existence united the realm and ensured the survival of the Plantagenet bloodline.
Her birth was greeted with as much pomp and ceremony as that of a male heir. The first child of King Edward IV, Elizabeth enjoyed all the glittering trappings of royalty. But after the death of her father; the disappearance and probable murder of her brothers—the Princes in the Tower; and the usurpation of the throne by her calculating uncle Richard III, Elizabeth found her world turned upside-down: She and her siblings were declared bastards.
As Richard’s wife, Anne Neville, was dying, there were murmurs that the king sought to marry his niece Elizabeth, knowing that most people believed her to be England’s rightful queen. Weir addresses Elizabeth’s possible role in this and her covert support for Henry Tudor, the exiled pretender who defeated Richard at the Battle of Bosworth and was crowned Henry VII, first sovereign of the House of Tudor. Elizabeth’s subsequent marriage to Henry united the houses of York and Lancaster and signaled the end of the Wars of the Roses. For centuries historians have asserted that, as queen, she was kept under Henry’s firm grasp, but Weir shows that Elizabeth proved to be a model consort—pious and generous—who enjoyed the confidence of her husband, exerted a tangible and beneficial influence, and was revered by her son, the future King Henry VIII.
Drawing from a rich trove of historical records, Weir gives a long overdue and much-deserved look at this unforgettable princess whose line descends to today’s British monarch—a woman who overcame tragedy and danger to become one of England’s most beloved consorts.
Praise for Elizabeth of York
“Weir tells Elizabeth’s story well. . . . She is a meticulous scholar. . . . Most important, Weir sincerely admires her subject, doing honor to an almost forgotten queen.”—The New York Times Book Review
“In [Alison] Weir’s skillful hands, Elizabeth of York returns to us, full-bodied and three-dimensional. This is a must-read for Tudor fans!”—Historical Novels Review
“This bracing biography reveals a woman of integrity, who . . . helped [her husband] lay strong groundwork for the success of the new Tudor dynasty. As always in a Weir book, the tenor of the times is drawn with great color and authenticity.”—Booklist
“Weir once again demonstrates that she is an outstanding portrayer of the Tudor era, giving us a fully realized biography of a remarkable woman.”—Huntington News
From the Trade Paperback edition.
Newly in print for the first time in years, this is the classic story of the invasion of Normandy, and a book that endures as a masterpiece of living history. A compelling tale of courage and heroism, glow and tragedy, The Longest Day painstakingly recreates the fateful hours that preceded and followed the massive invasion of Normandy to retell the story of an epic battle that would turn the tide against world fascism and free Europe from the grip of Nazi Germany.
For this new edition of The Longest Day, the original photographs used in the first 1959 edition have been reassembled and painstakingly reproduced, and the text has been freshly reset. Here is a book that is a must for any follower of history, as well as for anyone who wants to better understand how free nations prevailed at a time when darkness enshrouded the earth.
Austerlitz, Borodino, Waterloo: his battles are among the greatest in history, but Napoleon Bonaparte was far more than a military genius and astute leader of men. Like George Washington and his own hero Julius Caesar, he was one of the greatest soldier-statesmen of all times.
Andrew Roberts’s Napoleon is the first one-volume biography to take advantage of the recent publication of Napoleon’s thirty-three thousand letters, which radically transform our understanding of his character and motivation. At last we see him as he was: protean multitasker, decisive, surprisingly willing to forgive his enemies and his errant wife Josephine. Like Churchill, he understood the strategic importance of telling his own story, and his memoirs, dictated from exile on St. Helena, became the single bestselling book of the nineteenth century.
An award-winning historian, Roberts traveled to fifty-three of Napoleon’s sixty battle sites, discovered crucial new documents in archives, and even made the long trip by boat to St. Helena. He is as acute in his understanding of politics as he is of military history. Here at last is a biography worthy of its subject: magisterial, insightful, beautifully written, by one of our foremost historians.
From the Hardcover edition.
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.
Three times, beginning in 1690, warfare arose between New France and New England. Settlements were destroyed, and armies clashed, yet nothing was settled. Each country regarded the Ohio Valley as its own. A small skirmish in 1754 touched off a war that spread to Europe, then to Africa, Asia, and even to islands in the Atlantic and Pacific. The fate of North America hung in the balance. This conflict, the Great War for the Empire, may well be called the first of the world wars.
Here, award-winning historian Francis Russell brings to life the vast panorama that formed the background for this struggle in which the English redcoats fought side by side with American colonists against French soldiers and their Indian allies.
This excellent new translation brings Barthas’ wartime writings to English-language readers for the first time. His notebooks and letters represent the quintessential memoir of a “poilu,” or “hairy one,” as the untidy, unshaven French infantryman of the fighting trenches was familiarly known. Upon Barthas’ return home in 1919, he painstakingly transcribed his day-to-day writings into nineteen notebooks, preserving not only his own story but also the larger story of the unnumbered soldiers who never returned. Recounting bloody battles and endless exhaustion, the deaths of comrades, the infuriating incompetence and tyranny of his own officers, Barthas also describes spontaneous acts of camaraderie between French poilus and their German foes in trenches just a few paces apart. An eloquent witness and keen observer, Barthas takes his readers directly into the heart of the Great War./div
Joan Wallach Scott, the renowned pioneer of gender studies, argues that the law is symptomatic of France's failure to integrate its former colonial subjects as full citizens. She examines the long history of racism behind the law as well as the ideological barriers thrown up against Muslim assimilation. She emphasizes the conflicting approaches to sexuality that lie at the heart of the debate--how French supporters of the ban view sexual openness as the standard for normalcy, emancipation, and individuality, and the sexual modesty implicit in the headscarf as proof that Muslims can never become fully French. Scott maintains that the law, far from reconciling religious and ethnic differences, only exacerbates them. She shows how the insistence on homogeneity is no longer feasible for France--or the West in general--and how it creates the very "clash of civilizations" said to be at the root of these tensions.
The Politics of the Veil calls for a new vision of community where common ground is found amid our differences, and where the embracing of diversity--not its suppression--is recognized as the best path to social harmony.
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
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
Since his execution by guillotine in July 1794, Maximilien Robespierre has been contested terrain for historians, at once the most notorious leader of the French Revolution and the least comprehensible. Was he a bloodthirsty charlatan or the only true defender of revolutionary ideals? Was his extreme moralism—he was known as "The Incorruptible"—a heroic virtue or a ruinous flaw? Was he the first modern dictator or the earliest democrat?
Against the dramatic backdrop of the French Revolution, historian Ruth Scurr follows the trajectory of Robespierre's paradoxical life, from his unprepossessing beginnings as a provincial lawyer opposed to repressive authority and the death penalty, to his meteoric rise in Paris politics as a devastatingly efficient revolutionary leader, righteous and paranoid in equal measure. She explores his reformist zeal, his role in the trial of the king and the fall of the monarchy, his passionate attempt to design a modern republic, even his extraordinary effort to found a perfect religion. And she follows him into the depths of the Terror, as he makes summary execution the order of the day, himself falling victim to the violence at the age of thirty-six.
Written with epic sweep, full of nuance and insight, Fatal Purity is a fascinating portrait of a man who identified with the Revolution to the point of madness, and in so doing changed the course of history.
Winner of the Gerald Loeb Award for Best Business Book
“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
“Vigorously reported, superbly organized . . . For those of us who didn’t pursue MBAs—and have the penny-ante salaries to prove it—Sorkin’s book offers a clear, cogent explanation of what happened and why it matters.” —Julia Keller, Chicago Tribune
“Sorkin’s prodigious reporting and lively writing put the reader in the room for some of the biggest-dollar conference calls in history. It’s an entertaining, brisk book.” —Paul M. Barrett, The New York Times Book Review
“Sorkin’s densely detailed and astonishing narrative of the epic financial crisis of 2008 is an extraordinary achievement that will be hard to surpass as the definitive account.” —John Gapper, Financial Times
A brilliantly reported true-life thriller that goes behind the scenes of the financial crisis on Wall Street and in Washington, the basis for the HBO film
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.
The Battle of Normandy was the greatest offensive campaign the world had ever seen. Millions of soldiers battling for control of Europe were thrust onto the front lines of a massive war unlike any experienced in history. But the greatest of clashes would prove to be the crucible in which the outcome of World War II would be decided.
Author John Prados tells the story of how and why the tactics and battle plans of Normandy proved so formative, and reconstructs the climactic Allied Normandy breakout from both sides of the battle lines.
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.
"No novelist has made his creations live for us more thoroughly than Carlyle has made the men of the French Revolution," observed George Eliot. In his company, the scenes of the Revolution are plainly visible, and the pages of this book offer a walk through the streets of eighteenth-century Paris with a well-informed guide. This abridged edition represents the best introduction to Carlyle's masterpiece for students and history buffs.
Things have been just a little awkward between Britain and France ever since the Norman invasion in 1066. Fortunately—after years of humorously chronicling the vast cultural gap between the two countries—author Stephen Clarke is perfectly positioned to investigate the historical origins of their occasionally hostile and perpetually entertaining pas de deux.
Clarke sets the record straight, documenting how French braggarts and cheats have stolen credit rightfully due their neighbors across the Channel while blaming their own numerous gaffes and failures on those same innocent Brits for the past thousand years. Deeply researched and written with the same sly wit that made A Year in the Merde a comic hit, this lighthearted trip through the past millennium debunks the notion that the Battle of Hastings was a French victory (William the Conqueror was really a Norman who hated the French) and pooh-poohs French outrage over Britain’s murder of Joan of Arc (it was the French who executed her for wearing trousers). He also takes the air out of overblown Gallic claims, challenging the provenance of everything from champagne to the guillotine to prove that the French would be nowhere without British ingenuity.
Brits and Anglophiles of every national origin will devour Clarke’s decidedly biased accounts of British triumph and French ignominy. But 1000 Years of Annoying the French will also draw chuckles from good-humored Francophiles as well as “anyone who’s ever encountered a snooty Parisian waiter or found themselves driving on the Boulevard Périphérique during August” (The Daily Mail). A bestseller in Britain, this is an entertaining look at history that fans of Sarah Vowell are sure to enjoy, from the author the San Francisco Chronicle has called “the anti-Mayle . . . acerbic, insulting, un-PC, and mostly hilarious.”
In Montmartre is a colorful history of the birth of Modernist art as it arose from one of the most astonishing collections of artistic talent ever assembled. It begins in October 1900, as a teenage Pablo Picasso, eager for fame and fortune, first makes his way up the hillside of Paris’s famous windmill-topped district. Over the next decade, among the studios, salons, cafés, dance halls, and galleries of Montmartre, the young Spaniard joins the likes of Henri Matisse, André Derain, Maurice de Vlaminck, Georges Braque, Amedeo Modigliani, Constantin Brancusi, Gertrude Stein, and many more, in revolutionizing artistic expression.
Sue Roe has blended exceptional scholarship with graceful prose to write this remarkable group portrait of the men and women who profoundly changed the arts of painting, sculpture, dance, music, literature, and fashion. She describes the origins of movements like Fauvism, Cubism, and Futurism, and reconstructs the stories behind immortal paintings by Picasso and Matisse. Relating the colorful lives and complicated relationships of this dramatic bohemian scene, Roe illuminates the excitement of the moment when these bold experiments in artistic representation and performance began to take shape.
A thrilling account, In Montmartre captures an extraordinary group on the cusp of fame and immortality. Through their stories, Roe brings to life one of the key moments in the history of art.
Praise for In Montmartre
"Lively and engaging….[Readers] will find a fresh sense of how all these people—the geniuses and the hangers-on, the wealthy collectors and the unworldly painters—related to each other…..In [Roe’s] entertaining, ingeniously structured account Roe brings Montmatre’s hedyday back to life." —Sunday Times (London)
"With evocative imagery Roe sketches out the intensely visual spectacle on which Montmatre’s artistic community was able to draw…. Roe is particularly good at communicating the extraordinary devotion of Matisse and Picasso to their work." —Financial Times
From the Hardcover edition.
Frederick Lewis Allen’s insightful financial history of the United States—from the late 1800s through the stock market collapse of 1929—remains a seminal work on what brought on America’s worst economic disaster: the Great Depression. 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 capitalist 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 preferred image. In so doing, they established their absolute power and authority, ensuring that they—and they alone—would control the means of production, transportation, energy, and commerce—thereby setting the stage for the most devastating global financial collapse in history.
As Gretchen Morgenson thoughtfully states in her introduction, “It is not immediately clear why the frequency and severity of financial scandals is increasing in the United States. What is clear is that we need to understand the origins of these disasters, as well as the policies and people that bring them on. . . . While distant actions may seem unrelated to current events, rereading about the past almost always provides surprising insights into the present.”
The Lords of Creation, first published in the midst of the Great Depression, when the financial catastrophe 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.
Updated, with additional analysis of the government’s recent attempt to reform the banking industry, this is a timely and expert account of our troubled political economy.
Remarkable as it may seem today, there once was a time when the president of the United States could pick up the phone and ask the president of General Motors to resign his position and take the reins of a great national enterprise. And the CEO would oblige, no questions asked, because it was his patriotic duty.
In Freedom’s Forge, bestselling author Arthur Herman takes us back to that time, revealing how two extraordinary American businessmen—automobile magnate William 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.
“Knudsen? I want to see you in Washington. I want you to work on some production matters.” With those words, President Franklin D. Roosevelt enlisted “Big Bill” Knudsen, a Danish immigrant who had risen through the ranks of the auto industry to become president of General Motors, to drop his plans for market domination and join the U.S. Army. Commissioned a lieutenant general, Knudsen assembled a crack team of industrial innovators, persuading them one by one to leave their lucrative private sector positions and join him in Washington, D.C. Dubbed the “dollar-a-year men,” these dedicated patriots quickly took charge of America’s moribund war production effort.
Henry J. Kaiser was a maverick California industrialist famed for his innovative business techniques and his can-do management style. He, too, joined the cause. His Liberty ships became World War II icons—and the Kaiser name became so admired that FDR briefly considered making him his vice president in 1944. Together, Knudsen and Kaiser created a wartime production behemoth. Drafting top talent from companies like Chrysler, Republic Steel, Boeing, Lockheed, GE, and Frigidaire, they turned auto plants into aircraft factories and civilian assembly lines into fountains of munitions, giving Americans fighting in Europe and Asia the tools they needed to defeat the Axis. In four short years they transformed America’s army from a hollow shell into a truly global force, laying the foundations for a new industrial America—and for the country’s rise as an economic as well as military superpower.
Featuring behind-the-scenes portraits of FDR, George Marshall, Henry Stimson, Harry Hopkins, Jimmy Doolittle, and Curtis LeMay, as well as scores of largely forgotten heroes and heroines of the wartime industrial effort, Freedom’s Forge is the American story writ large. It 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 rambunctious book that is itself alive with the animal spirits of the marketplace.”—The Wall Street Journal
“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)
From the Hardcover edition.
Traditionally known as a dirty, congested, and dangerous city, 19th Century Paris, France was transformed in an extraordinary period from 1848 to 1870, when the government launched a huge campaign to build streets, squares, parks, churches, and public buildings. The Louvre Palace was expanded, Notre-Dame Cathedral was restored and the French masterpiece of the Second Empire, the Opéra Garnier, was built. A very large part of what we see when we visit Paris today originates from this short span of twenty-two years.
The vision for the new Nineteenth Century Paris belonged to Napoleon III, who had led a long and difficult climb to absolute power. But his plans faltered until he brought in a civil servant, Georges-Eugène Haussmann, to take charge of the implementation. Heedless of controversy, at tremendous cost, Haussmann pressed ahead with the giant undertaking until, in 1870, his political enemies brought him down, just months before the collapse of the whole regime brought about the end of an era.
Paris Reborn is a must-read for anyone who ever wondered how Paris, the city universally admired as a standard of urban beauty, became what it is.
Looking closely at the theory and practice of judicial torture in France from 1600 to 1788, the year in which it was formally abolished, Silverman revisits dossiers compiled in criminal cases, including transcripts of interrogations conducted under torture, as well as the writings of physicians and surgeons concerned with the problem of pain, records of religious confraternities, diaries and letters of witnesses to public executions, and the writings of torture's abolitionists and apologists. She contends that torture was at the center of an epistemological crisis that forced French jurists and intellectuals to reconsider the relationship between coercion and sincerity, or between free will and evidence. As the philosophical consensus on which torture rested broke down, and definitions of truth and pain shifted, so too did the foundation of torture, until by the eighteenth century, it became an indefensible practice.
A gripping narrative that spans five decades, The Looming Tower explains in unprecedented detail the growth of Islamic fundamentalism, the rise of al-Qaeda, and the intelligence failures that culminated in the attacks on the World Trade Center. Lawrence Wright re-creates firsthand the transformation of Osama bin Laden and Ayman al-Zawahiri from incompetent and idealistic soldiers in Afghanistan to leaders of the most successful terrorist group in history. He follows FBI counterterrorism chief John O’Neill as he uncovers the emerging danger from al-Qaeda in the 1990s and struggles to track this new threat. Packed with new information and a deep historical perspective, The Looming Tower is the definitive history of the long road to September 11.
National Book Award Finalist
Updated and with a New Afterword
Bronx-born top turret-gunner Arthur Meyerowitz was on his second mission when he was shot down in 1943. He was one of only two men on the B-24 Liberator known as “Harmful Lil Armful” who escaped death or immediate capture on the ground.
After fleeing the wreck, Arthur knocked on the door of an isolated farmhouse, whose owners hastily took him in. Fortunately, his hosts not only despised the Nazis but had a tight connection to the French resistance group Morhange and its founder, Marcel Taillandier. Arthur and Taillandier formed an improbable bond as the resistance leader arranged for Arthur’s transfers among safe houses in southern France, shielding him from the Gestapo.
Based on recently declassified material, exclusive personal interviews, and extensive research into the French Resistance, The Lost Airman tells the tense and riveting story of Arthur’s trying months in Toulouse—masquerading as a deaf mute and working with a downed British pilot to evade the Nazis—and of his hair-raising journey to freedom involving a perilous trek over the Pyrenees and a voyage aboard a fishing boat with U-boats lurking below and Luftwaffe fighters looming above. With photographs and maps included, this is a never-before-told true story of endurance, perseverance, and escape during World War II.
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.
Every era must retell and reimagine the Maid of Orleans's extraordinary story in its own way, and in Joan of Arc: A Life Transfigured, the superb novelist and memoirist Kathryn Harrison gives us a Joan for our time—a shining exemplar of unshakable faith, extraordinary courage, and self-confidence during a brutally rigged ecclesiastical inquisition and in the face of her death by burning. Deftly weaving historical fact, myth, folklore, artistic representations, and centuries of scholarly and critical interpretation into a compelling narrative, she restores Joan of Arc to her rightful position as one of the greatest heroines in all of human history.
With the addition of an evocative new preface, Mary McAuliffe takes the reader back to these perilous years following the abrupt collapse of the Second Empire and France's uncertain venture into the Third Republic. By 1900, Paris had recovered and the Belle Epoque was in full flower, but the decades between were difficult, marked by struggles between republicans and monarchists, the Republic and the Church, and an ongoing economic malaise, darkened by a rising tide of virulent anti-Semitism.
Yet these same years also witnessed an extraordinary blossoming in art, literature, poetry, and music, with the Parisian cultural scene dramatically upended by revolutionaries such as Monet, Zola, Rodin, and Debussy, even while Gustave Eiffel was challenging architectural tradition with his iconic tower.
Through the eyes of these pioneers and others, including Sarah Bernhardt, Georges Clemenceau, Marie Curie, and César Ritz, we witness their struggles with the forces of tradition during the final years of a century hurtling towards its close. Through rich illustrations and vivid narrative, McAuliffe brings this vibrant and seminal era to life.
A rare source of authentic period styles, this volume will prove an excellent guide for designers, costume historians, and collectors of vintage apparel. Color images of Jazz Age fashions are few and far between, and these full-page illustrations offer clear views of trimmings, seaming, and other details. Notes on each model include information about the costume's intended season and occasion, fabrics, and accessories.
The Lost Generation made up one of the most fascinating, eccentric, and diverse group of writers ever known--Ernest Hemmingway, James Joyce, F. Scott Fitzgerald, Ezra Pound, and so many more collectively made up this artistic period in time. In this book, you will learn how and why the movement started, what it was like to be a writer in Paris, and what led to its fall.
A list of essential reading from the period is also included in the book.
When Jean de Carrouges, a Norman knight, returns from combat in Scotland to find his wife, Marguerite, accusing Jacques LeGris, her husband’s old friend and fellow courtier, of brutally raping her, the knight takes his cause before the teenage King Charles VI. Amid LeGris’s vociferous claims of innocence and doubts about the now pregnant Marguerite’s charges (and about the paternity of her child), the deadlocked court decrees a “trial by combat” that leaves her fate, too, in the balance. For if her husband and champion loses the duel, she will be put to death as a false accuser.
Carrouges and LeGris, in full armor, eventually meet on a walled field in Paris before a massive crowd that includes the king and many nobles of the realm. A fierce fight on horseback and then on foot ensues during which both combatants suffer wounds—but only one fatal. The violent and tragic episode was notorious in its own time because of the nature of the alleged crime, the legal impasse it provoked, and the resulting trial by combat, an ancient but increasingly suspect institution that was thereafter abolished.
The dramatic true story of the knight, the squire, and the lady unfolds in 1386, during the devastating Hundred Years War between France and England, as enemy troops pillage the land, madness haunts the French court, the Great Schism splits the Church, Muslim armies threaten Christendom, and rebellion, treachery, and plague turn the lives of all into toys of Fortune. Based on extensive research in Normandy and Paris, The Last Duel brings to life a colorful, turbulent age and three unforgettable characters caught in a fatal triangle of crime, scandal, and revenge. It is at once a moving human drama, a captivating detective story, and an engrossing work of historical intrigue.
From the Trade Paperback edition.
Drawing on in-depth reporting and exclusive interviews at the highest rungs of Wall Street and Washington, Time assistant managing editor and economic columnist Rana Foroohar shows how the “financialization of America” - the trend by which finance and its way of thinking have come to reign supreme - is perpetuating Wall Street's reign over Main Street, widening the gap between rich and poor, and threatening the future of the American Dream.
Policy makers get caught up in the details of regulating “Too Big To Fail” banks, but the problems in our market system go much broader and deeper than that. Consider that:
· Thanks to 40 years of policy changes and bad decisions, only about 15 % of all the money in our market system actually ends up in the real economy – the rest stays within the closed loop of finance itself.
· The financial sector takes a quarter of all corporate profits in this country while creating only 4 % of American jobs.
· The tax code continues to favor debt over equity, making it easier for companies to hoard cash overseas rather than reinvest it on our shores.
· Our biggest and most profitable corporations are investing more money in stock buybacks than in research and innovation.
· And, still, the majority of the financial regulations promised after the 2008 meltdown have yet come to pass, thanks to cozy relationship between our lawmakers and the country’s wealthiest financiers.
Exploring these forces, which have have led American businesses to favor balancing-sheet engineering over the actual kind and the pursuit of short-term corporate profits over job creation, Foroohar shows how financialization has so gravely harmed our society, and why reversing this trend is of grave importance to us all. Through colorful stories of both "Takers” and "Makers,” she’ll reveal how we change the system for a better and more sustainable shared economic future.
— Financial Times - Best Books of 2016: Economics
— Bloomberg Businessweek- Best Books of the Year
From the bestselling author and master of narrative nonfiction comes the enthralling story of the sinking of the Lusitania
On May 1, 1915, with WWI entering its tenth month, a luxury ocean liner as richly appointed as an English country house sailed out of New York, bound for Liverpool, carrying a record number of children and infants. The passengers were surprisingly at ease, even though Germany had declared the seas around Britain to be a war zone. For months, German U-boats had brought terror to the North Atlantic. But the Lusitania was one of the era’s great transatlantic “Greyhounds”—the fastest liner then in service—and her captain, William Thomas Turner, placed tremendous faith in the gentlemanly strictures of warfare that for a century had kept civilian ships safe from attack.
Germany, however, was determined to change the rules of the game, and Walther Schwieger, the captain of Unterseeboot-20, was happy to oblige. Meanwhile, an ultra-secret British intelligence unit tracked Schwieger’s U-boat, but told no one. As U-20 and the Lusitania made their way toward Liverpool, an array of forces both grand and achingly small—hubris, a chance fog, a closely guarded secret, and more—all converged to produce one of the great disasters of history.
It is a story that many of us think we know but don’t, and Erik Larson tells it thrillingly, switching between hunter and hunted while painting a larger portrait of America at the height of the Progressive Era. Full of glamour and suspense, Dead Wake brings to life a cast of evocative characters, from famed Boston bookseller Charles Lauriat to pioneering female architect Theodate Pope to President Woodrow Wilson, a man lost to grief, dreading the widening war but also captivated by the prospect of new love.
Gripping and important, Dead Wake captures the sheer drama and emotional power of a disaster whose intimate details and true meaning have long been obscured by history.
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 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 February 1945, American Marines plunged into the surf at Iwo Jima—and into history. Through a hail of machine-gun and mortar fire that left the beaches strewn with comrades, they battled to the island's highest peak. And after climbing through a landscape of hell itself, they raised a flag.
Now the son of one of the flagraisers has written a powerful account of six very different young men who came together in a moment that will live forever.
To his family, John Bradley never spoke of the photograph or the war. But after his death at age seventy, his family discovered closed boxes of letters and photos. In Flags of Our Fathers, James Bradley draws on those documents to retrace the lives of his father and the men of Easy Company. Following these men's paths to Iwo Jima, James Bradley has written a classic story of the heroic battle for the Pacific's most crucial island—an island riddled with Japanese tunnels and 22,000 fanatic defenders who would fight to the last man.
But perhaps the most interesting part of the story is what happened after the victory. The men in the photo—three were killed during the battle—were proclaimed heroes and flown home, to become reluctant symbols. For two of them, the adulation was shattering. Only James Bradley's father truly survived, displaying no copy of the famous photograph in his home, telling his son only: "The real heroes of Iwo Jima were the guys who didn't come back."
Few books ever have captured the complexity and furor of war and its aftermath as well as Flags of Our Fathers. A penetrating, epic look at a generation at war, this is history told with keen insight, enormous honesty, and the passion of a son paying homage to his father. It is the story of the difference between truth and myth, the meaning of being a hero, and the essence of the human experience of war.
From the Hardcover edition.
One of France's most celebrated citizens, Voltaire (1694-1778) is best known for his satirical novel Candide. His political treatises, which frequently put him at odds with the church and state, have exercised enormous influence on political theorists, philosophers, educators, and historians. This compilation, first published in 1764, covers a broad range of topics. Organized alphabetically, its subjects range from adultery, atheism, bankruptcy, and common sense to religion, superstition, tolerance, and virtue.
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.