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A great fall cannot be understood apart from the rise that preceded it. Enron Ascending is the only book to date that examines in detail the first two-thirds of that iconic energy company’s life. Thus, it is the only book to date that exposes the deepest causes of Enron’s stunning collapse. Nobel economist Paul Krugman predicted that history would look upon Enron’s plummet as a greater turning point than the fall of the Twin Towers.

Enron Ascending explains the shock of the company’s fall by recalling the astounding achievements of Enron’s birth, childhood, adolescence, and early maturity. It sets forth the once-celebrated but now-forgotten industry and innovation that caused the company and its reputation to soar stratospherically. At the same time, always conscious of the company’s fate, the book highlights throughout the developing habits of thought and behavior that later evolved into self-destructive acts of desperation and deceit.

Written fifteen years after the firm’s demise, Enron Ascending offers the long perspective of a uniquely positioned insider, Robert L. Bradley, Jr., the company’s director of public-policy analysis and Chairman Ken Lay’s personal speechwriter. The book also offers a library of previously unavailable information, drawn from Bradley’s innumerable corporate documents and unrepeatable interviews, which he collected in his capacity as the company’s prospective historian.

Most important, however, Enron Ascending offers an antidote to the unending stories, studies, and books about Enron that are presented as just-the-facts but are in reality shaped decisively by the worldview of their authors. Bradley shows, beyond dispute, that the early habits which set precedents for Enron’s history-making demise were directly contrary to the free-market behaviors and capitalist attitudes generally blamed for Enron’s fall.

Capitalism took the blame for Enron. Yet Enron was anything but a free-market enterprise, and company-architect Ken Lay was hardly a principled capitalist. On the contrary, Enron was a politically dependent company and, in the end, a grotesque outcome of America's modern mixed economy. That is the central finding of Robert L. Bradley's Capitalism at Work: The blame for Enron rests squarely with political capitalism - a system in which business interests routinely obtain, and employ government intervention for their own interests at the expense of consumers, taxpayers, and competitors. Although Ken Lay professed allegiance to free markets, he was in fact a consummate politician. Only by manipulating the levers of government was Enron transformed from a $3 billion natural gas company to a $100 billion chimera, one that went from seventh place on the Fortune 500 list to bankruptcy. But Capitalism at Work goes beyond unmasking Enron's sophisticated foray into political capitalism. Employing the timeless insights of Adam Smith, Samuel Smiles, and Ayn Rand, among others, Bradley shows how fashionable anti-capitalist doctrines set the stage for the ultimate business debacle. Those errant theories, like Enron itself, elevated form over substance, ignored legitimate criticism, and bypassed midcourse correction. Political capitalism was thus more than the handiwork of profit-hungry businessmen and power-hungry politicians. It was a legacy of failed scholarship. The fundamental lesson from Enron is this: Capitalism did not fail. The mixed economy failed. The capitalist worldview is stronger, not weaker, post-Enron. But there is another, deeper lesson that explains Enron and the mistakes of the intellectual mainstream before, during, and after Enron's active life. It is that arrogant behavior, or what in the Enron vernacular is called the smartest-guys-in-the-room problem, can strike anytime and anywhere. Whether in business or academia or a profession or association conceit, deceit, and dogmatism are the bane of personal, intellectual, and organizational success.
Brilliant and engagingly written, Why Nations Fail answers the question that has stumped the experts for centuries: Why are some nations rich and others poor, divided by wealth and poverty, health and sickness, food and famine?

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. 
An unimpeachable classic work in political philosophy, intellectual and cultural history, and economics, The Road to Serfdom has inspired and infuriated politicians, scholars, and general readers for half a century. Originally published in 1944—when Eleanor Roosevelt supported the efforts of Stalin, and Albert Einstein subscribed lock, stock, and barrel to the socialist program—The Road to Serfdom was seen as heretical for its passionate warning against the dangers of state control over the means of production. For F. A. Hayek, the collectivist idea of empowering government with increasing economic control would lead not to a utopia but to the horrors of Nazi Germany and Fascist Italy.

First published by the University of Chicago Press on September 18, 1944, The Road to Serfdom garnered immediate, widespread attention. The first printing of 2,000 copies was exhausted instantly, and within six months more than 30,000 books were sold. In April 1945, Reader’s Digest published a condensed version of the book, and soon thereafter the Book-of-the-Month Club distributed this edition to more than 600,000 readers. A perennial best seller, the book has sold 400,000 copies in the United States alone and has been translated into more than twenty languages, along the way becoming one of the most important and influential books of the century.

With this new edition, The Road to Serfdom takes its place in the series The Collected Works of F. A. Hayek. The volume includes a foreword by series editor and leading Hayek scholar Bruce Caldwell explaining the book's origins and publishing history and assessing common misinterpretations of Hayek's thought. Caldwell has also standardized and corrected Hayek's references and added helpful new explanatory notes. Supplemented with an appendix of related materials ranging from prepublication reports on the initial manuscript to forewords to earlier editions by John Chamberlain, Milton Friedman, and Hayek himself, this new edition of The Road to Serfdom will be the definitive version of Hayek's enduring masterwork.
From 2020 Democratic presidential candidate Andrew Yang, a captivating account of how "a skinny Asian kid from upstate" became a successful entrepreneur, only to find a new mission: calling attention to the urgent steps America must take, including Universal Basic Income, to stabilize our economy amid rapid technological change and automation.

The shift toward automation is about to create a tsunami of unemployment. Not in the distant future--now. One recent estimate predicts 45 million American workers will lose their jobs within the next twelve years--jobs that won't be replaced. In a future marked by restlessness and chronic unemployment, what will happen to American society?

In The War on Normal People, Andrew Yang paints a dire portrait of the American economy. Rapidly advancing technologies like artificial intelligence, robotics and automation software are making millions of Americans' livelihoods irrelevant. The consequences of these trends are already being felt across our communities in the form of political unrest, drug use, and other social ills. The future looks dire-but is it unavoidable?

In The War on Normal People, Yang imagines a different future--one in which having a job is distinct from the capacity to prosper and seek fulfillment. At this vision's core is Universal Basic Income, the concept of providing all citizens with a guaranteed income-and one that is rapidly gaining popularity among forward-thinking politicians and economists. Yang proposes that UBI is an essential step toward a new, more durable kind of economy, one he calls "human capitalism."
The most important book yet from the author of the international bestseller The Shock Doctrine, a brilliant explanation of why the climate crisis challenges us to abandon the core “free market” ideology of our time, restructure the global economy, and remake our political systems.

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.
From the author of Aftershock and The Work of Nations, his most important book to date—a myth-shattering breakdown of how the economic system that helped make America so strong is now failing us, and what it will take to fix it.

Perhaps no one is better acquainted with the intersection of economics and politics than Robert B. Reich, and now he reveals how power and influence have created a new American oligarchy, a shrinking middle class, and the greatest income inequality and wealth disparity in eighty years. He makes clear how centrally problematic our veneration of the “free market” is, and how it has masked the power of moneyed interests to tilt the market to their benefit.

Reich exposes the falsehoods that have been bolstered by the corruption of our democracy by huge corporations and the revolving door between Washington and Wall Street: that all workers are paid what they’re “worth,” that a higher minimum wage equals fewer jobs, and that corporations must serve shareholders before employees. He shows that the critical choices ahead are not about the size of government but about who government is for: that we must choose not between a free market and “big” government but between a market organized for broadly based prosperity and one designed to deliver the most gains to the top. Ever the pragmatist, ever the optimist, Reich sees hope for reversing our slide toward inequality and diminished opportunity when we shore up the countervailing power of everyone else.

Passionate yet practical, sweeping yet exactingly argued, Saving Capitalism is a revelatory indictment of our economic status quo and an empowering call to civic action.
A New York Times bestseller and “a passionate, urgent” (The New Yorker) examination of the growing inequality gap from the bestselling author of Bowling Alone: why fewer Americans today have the opportunity for upward mobility.

Central to the very idea of America is the principle that we are a nation of opportunity. But over the last quarter century we have seen a disturbing “opportunity gap” emerge. We Americans have always believed that those who have talent and try hard will succeed, but this central tenet of the American Dream seems no longer true or at the least, much less true than it was.

In Our Kids, Robert Putnam offers a personal and authoritative look at this new American crisis, beginning with the example of his high school class of 1959 in Port Clinton, Ohio. The vast majority of those students went on to lives better than those of their parents. But their children and grandchildren have faced diminishing prospects. Putnam tells the tale of lessening opportunity through poignant life stories of rich, middle class, and poor kids from cities and suburbs across the country, brilliantly blended with the latest social-science research.

“A truly masterful volume” (Financial Times), Our Kids provides a disturbing account of the American dream that is “thoughtful and persuasive” (The Economist). Our Kids offers a rare combination of individual testimony and rigorous evidence: “No one can finish this book and feel complacent about equal opportunity” (The New York Times Book Review).
Is Wall Street bad for Main Street America?

In looking at the forces that brought our current administration to power one thing is clear: much of the population believes that our economic system is rigged to enrich the privileged elites at the expense of hard-working Americans. This is a belief held equally on both sides of political spectrum, and it seems only to be gaining momentum.
 
A key reason, says Financial Times columnist Rana Foroohar, is the fact that Wall Street is no longer supporting Main Street businesses that create the jobs for the middle and working class. She draws on in-depth reporting and interviews at the highest rungs of business and government to show how the “financialization of America”—the phenomenon by which finance and its way of thinking have come to dominate every corner of business—is threatening the American Dream.
 
Now updated with new material explaining how our corrupted financial sys­tem propelled Donald Trump to power, Makers and Takers explores the confluence of forces that has led American businesses to favor balance-sheet engineering over the actual kind, greed over growth, and short-term profits over putting people to work. From the cozy relationship between Wall Street and Washington, to a tax code designed to benefit wealthy individuals and corporations, to forty years of bad policy decisions, she shows why so many Americans have lost trust in the sys­tem, and why it matters urgently to us all.
 
Through colorful stories of both “Takers,” those stifling job creation while lining their own pockets, and “Makers,” businesses serving the real economy, Foroohar shows how we can reverse these trends for a better path forward.
New York Times Bestseller

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.
A brilliantly reported, global look at universal basic income—a stipend given to every citizen—and why it might be the answer for our age of rising inequality, persistent poverty, and dazzling technology.
 
Imagine if every month the government deposited $1,000 into your checking account, with no strings attached and nothing expected in return. It sounds crazy. But it has become one of the most influential and discussed policy ideas of our time. The founder of Facebook, President Obama’s chief economist, Canada and Finland’s governments, the conservative and labor movements’ leading intellectual lights—all are seriously debating versions of a UBI.
 
In this sparkling and provocative book, economics writer Annie Lowrey looks at the global UBI movement. She travels to Kenya to see how a UBI is lifting the poorest people on earth out of destitution, India to see how inefficient government programs are failing the poor, South Korea to interrogate UBI’s intellectual pedigree, and Silicon Valley to meet the tech titans financing UBI pilots in expectation of a world with advanced artificial intelligence and little need for human labor. Lowrey also examines the challenges the movement faces: contradictory aims, uncomfortable costs, and most powerfully, the entrenched belief that no one should get something for nothing.
 
The UBI movement calls into question our deepest intuitions about what we owe each other. Yet as Lowrey persuasively shows, a UBI—giving people money—is not just a solution to our problems, but a better foundation for our society in this age of marvels.
For readers of Hillbilly Elegy and Strangers in Their Own Land

WINNER OF THE OHIOANA BOOK AWARDS AND FINALIST FOR THE 87TH CALIFORNIA BOOK AWARDS | NAMED A BEST/MOST ANTICIPATED BOOK OF 2017 BY: New York Post • Newsweek • The Week • Bustle • Books by the Banks Book Festival • Bookauthority.com

The Wall Street Journal: "A devastating portrait...For anyone wondering why swing-state America voted against the establishment in 2016, Mr. Alexander supplies plenty of answers."

Laura Miller, Slate: "This book hunts bigger game. Reads like an odd?and oddly satisfying?fusion of George Packer’s The Unwinding and one of Michael Lewis’ real-life financial thrillers."

The New Yorker : "Does a remarkable job."

Beth Macy, author of Factory Man: "This book should be required reading for people trying to understand Trumpism, inequality, and the sad state of a needlessly wrecked rural America. I wish I had written it."

In 1947, Forbes magazine declared Lancaster, Ohio the epitome of the all-American town. Today it is damaged, discouraged, and fighting for its future. In Glass House, journalist Brian Alexander uses the story of one town to show how seeds sown 35 years ago have sprouted to give us Trumpism, inequality, and an eroding national cohesion.

The Anchor Hocking Glass Company, once the world’s largest maker of glass tableware, was the base on which Lancaster’s society was built. As Glass House unfolds, bankruptcy looms. With access to the company and its leaders, and Lancaster’s citizens, Alexander shows how financial engineering took hold in the 1980s, accelerated in the 21st Century, and wrecked the company. We follow CEO Sam Solomon, an African-American leading the nearly all-white town’s biggest private employer, as he tries to rescue the company from the New York private equity firm that hired him. Meanwhile, Alexander goes behind the scenes, entwined with the lives of residents as they wrestle with heroin, politics, high-interest lenders, low wage jobs, technology, and the new demands of American life: people like Brian Gossett, the fourth generation to work at Anchor Hocking; Joe Piccolo, first-time director of the annual music festival who discovers the town relies on him, and it, for salvation; Jason Roach, who police believed may have been Lancaster’s biggest drug dealer; and Eric Brown, a local football hero-turned-cop who comes to realize that he can never arrest Lancaster’s real problems.

You might be thinking everything's okay: the stock market is on the rise, jobs are growing, the worst of it is over.

You'd be wrong.

In The Real Crash, New York Times bestselling author Peter D. Schiff argues that America is enjoying a government-inflated bubble, one that reality will explode . . . with disastrous consequences for the economy and for each of us. Schiff demonstrates how the infusion of billions of dollars of stimulus money has only dug a deeper hole: the United States government simply spends too much and does not collect enough money to pay its debts, and in the end, Americans from all walks of life will face a crushing consequence.

We're in hock to China, we can't afford the homes we own, and the entire premise of our currency—backed by the full faith and credit of the United States—is false. Our system is broken, Schiff says, and there are only two paths forward. The one we're on now leads to a currency and sovereign debt crisis that will utterly destroy our economy and impoverish the vast majority of our citizens.

However, if we change course, the road ahead will be a bit rockier at first, but the final destination will be far more appealing. If we want to avoid complete collapse, we must drastically reduce government spending—eliminate entire agencies, end costly foreign military escapades and focus only on national defense—and stop student loan or mortgage interest deductions, as well as drug wars and bank-and-business bailouts. We must also do what no politician or pundit has proposed: America should declare bankruptcy, restructure its debts, and reform our system from the ground up.
Persuasively argued and provocative, The Real Crash explains how we got into this mess, how we might get out of it, and what happens if we don't. And, with wisdom born from having predicted the Crash of 2008, Peter Schiff explains how to protect yourself, your family, your money, and your country against what he predicts.

"Nader’s assessment of how concentrated wealth and power undermine democracy is clear and compelling, but it’s his substantive vision of how we ought to respond that makes Breaking Through Power essential reading. Written just before Donald Trump’s Electoral College victory, Nader’s latest book reads with even greater urgency now."--Yes Magazine

In Breaking Through Power, Ralph Nader draws from a lifetime waging--and often winning--David vs. Goliath battles against big corporations and the United States government. In this succinct, Tom Paine-style wake-up call, the iconic consumer advocate highlights the success stories of fellow Americans who organize change and work together to derail the many ways in which wealth manipulates politics, labor, media, the environment, and the quality of national life today. Nader makes an inspired case about how the nation can--and must--be democratically managed by communities guided by the United States Constitution, not by the dictates of big businesses and the wealthy few. This is classic Ralph Nader, a crystallization of the core political beliefs and commitments that have driven his lifetime of advocacy for greater democracy.

"Ralph Nader is the grand progressive of our time. We overlook his words at our own peril! This book is required reading."--Cornel West

"Ralph Nader's Breaking Through Power is a brilliant analysis of corporate power and the popular mechanisms that can be used to wrest back our democracy. No one has been fighting corporate domination longer, or understands it better, than Nader, who will go down in history not only as a prophet but an example of what it means to live the moral life. We disregard his wisdom and his courage at our peril."--Chris Hedges, Pulitzer-Prize winner and author of Wages of Rebellion: The Moral Imperative of Revolt

"Nader goes beyond delineating the problem and provides a critical prescription to battle the toxicity of unjust power--one that every individual can, and must, embrace."--Nomi Prins, author, All the Presidents' Bankers

"People are recognizing that our founding, fundamental values of fairness, justice, and opportunity for all--the very values that define our America--are being shoved aside to create an un-America of plutocracy and autocracy. Ralph Nader's new book Breaking Through Power provides progressive boat-rockers with inspiration and a plan for reclaiming America from the greedy Plutocrats and Fat Cats who think democracy is for sale to the highest bidder."--Jim Hightower

"I read Ralph Nader for the same reasons that I read Tom Paine. He knows what he thinks, says what he means, and his courage is a lesson for us all."--Lewis Lapham

"Nader insists on speaking up for the little people and backs his arguments and decent sentiments with hard facts."--Publishers Weekly

"This book is short, easy to read, and deserves more than five stars. Nader speaks for the average American, and backs up his arguments with facts. This is extremely highly recommended."--Paul Lappen, Midwest Book Review

About Ralph Nader: Named by The Atlantic as one of the hundred most influential figures in American history, and by Time and Life magazines as one of the most influential Americans of the twentieth century, Ralph Nader has helped us drive safer cars, eat healthier food, breathe better air, drink cleaner water, and work in safer environments for more than four decades. Nader's recent books include Animal Envy, Unstoppable, The Good Fight, and the bestseller, Seventeen Traditions. Nader writes a syndicated column, has his own radio show, and gives lectures and interviews year round.


NEW YORK TIMES BESTSELLER • A roadmap to what lies ahead and the decisions we must make now to stave off the next global economic and financial crisis, from one of the world’s most influential economic thinkers and the author of When Markets Collide • With a new introduction by the author

Our current economic path is coming to an end. The signposts are all around us: sluggish growth, rising inequality, stubbornly high pockets of unemployment, and jittery financial markets, to name a few. Soon we will reach a fork in the road: One path leads to renewed growth, prosperity, and financial stability, the other to recession and market disorder.

In The Only Game in Town, El-Erian casts his gaze toward the future of the global economy and markets, outlining the choices we face both individually and collectively in an era of economic uncertainty and financial insecurity. Beginning with their response to the 2008 global crisis, El-Erian explains how and why our central banks became the critical policy actors—and, most important, why they cannot continue is this role alone. They saved the financial system from collapse in 2008 and a multiyear economic depression, but lack the tools to enable a return to high inclusive growth and durable financial stability. The time has come for a policy handoff, from a prolonged period of monetary policy experimentation to a strategy that better targets what ails economies and distorts the financial sector—before we stumble into another crisis.

The future, critically, is not predestined. It is up to us to decide where we will go from here as households, investors, companies, and governments. Using a mix of insights from economics, finance, and behavioral science, this book gives us the tools we need to properly understand this turning point, prepare for it, and come out of it stronger. A comprehensive, controversial look at the realities of our global economy and markets, The Only Game in Town is required reading for investors, policymakers, and anyone interested in the future.

Praise for The Only Game in Town

“The one economic book you must read now . . . If you want to understand [our] bifurcated world and where it’s headed, there is no better interpreter than Mohamed El-Erian.”–Time

“A grand tour of the challenges we face, along with ideal solutions and more likely outcomes . . . We desperately need a system in which the central banks are no longer the only game in town.”—Steven Rattner, The New York Times Book Review

“A must-read from one of the most astute financial analysts of our time.”—Walter Isaacson, author of Steve Jobs

“El-Erian’s gift for clarity and his use of compelling examples make important economic issues accessible.”—Anne-Marie Slaughter, president and CEO, New America

“[A] highly intelligent analysis.”—Fareed Zakaria, CNN (book of the week)
 The Chinese system is like no other known to man, now or in history. This book explains how the system works and where it may be moving.


Drawing on Chinese and international sources, on extensive collaboration with Chinese scholars, and on the political science of state analysis, the author concludes that under the new leadership of Xi Jinping, the system of government has been transformed into a new regime radically harder and more ideological than the legacy of Deng Xiaoping. China is less strong economically and more dictatorial politically than the world has wanted to believe.

By analysing the leadership of Xi Jinping, the meaning of ‘socialist market economy’, corruption, the party-state apparatus, the reach of the party, the mechanisms of repression, taxation and public services, and state-society relations, the book broadens the field of China studies, as well as the fields of political economy, comparative politics, development, and welfare state studies.

‘A new interpretation of the Chinese party-state—shows the advantage that derives from a comparative theorist looking at the Chinese system.’
—Tony Saich, Harvard University

‘This is an excellent book which asks important questions about China’s future. In a lively and persuasive manner, the author vividly analyses key data in a comparative and theoretical manner. Far and away the best introduction to how the CCP dictatorship works.’
—Edward Friedman, University of Wisconsin-Madison

‘There is no lack of scholars and pundits abroad who tell us that dictatorship in China is for the greater good. In a timely and engagingly written book, Stein Ringen systematically demolishes all the components of this claim.’
—Frank Dikötter, University of Hong Kong

‘Stein Ringen shows how the Chinese state has used both fear and material inducements to build a “controlocracy” of a size and complexity unprecedented in world history. Perfect as a dictatorship, but brutal, destructive, and wasteful. The author’s encyclopedic understanding of his topic is based on a mastery of relevant scholarship and is delivered in clear, no-nonsense prose that bows to no one. Ideal as a textbook.’
—Perry Link, University of California, Riverside

‘China is a complex country, and there is a range of reasonable interpretations of its political system. Professor Ringen’s interpretation is different than my own, but China watchers need to engage with his thought-provoking and carefully argued assessment. If current trends of repression intensify, less pessimistic analysts will need to recognise that Ringen’s analysis may have been prescient.’
—Daniel A. Bell, Tsinghua University

‘Inspirational and trenchant. Stein Ringen’s book is a must-read to understand China’s politics, economy, ideology and social control, and its adaptability and challenges under the CCP’s rule, especially in the 21st century.’
—Teng Biao, Harvard Law School and New York University

‘Stein Ringen’s insights as a prominent political scientist enable a powerful examination of the Chinese state in a penetrating analysis that reaches strong conclusions which some will see as controversial. The book is scholarly, objective, and free from ideological partiality or insider bias. Whether one ultimately wishes to challenge or embrace his findings, the book should be read.’
—Lina Song, University of Nottingham

Click on these links for more information:
Blog: https://thechinesestate.com/  
Facebook: https://www.facebook.com/stein.ringen.7/about

A revised and enlarged edition of Thomas Sowell's essential examination of differences of wealth and income between nations and within nations
Wealth, Poverty and Politics challenges the assumptions, the definitions, the evidence and the reasoning of most of what is said about differences of income and wealth by people in the media, in academia and in politics. After an extensive examination of factors behind the economic differences between nations and within nations -- including geographic, demographic, cultural and political factors -- the last section of the book is a searching critique of leading income redistributionists, from John Rawls to Thomas Piketty and Nobel laureates in economics Paul Krugman, Angus Deaton and Joseph Stiglitz.
Among the more heartening findings from history are the individuals, groups and nations that have risen from poverty and backwardness to prosperity and achievements on the frontiers of human progress. Among the more painful findings are counterproductive creeds and policies that have needlessly prolonged poverty and dependency among lagging groups in countries around the world, and whipped up resentments -- and sometimes violence -- against more productive and successful minorities in many places and times.
Although Wealth, Poverty and Politics offers many new analyses and insights, it is essentially a fact-based study which subjects many beliefs, from various parts of the ideological spectrum, to the ultimate test of empirical evidence. These challenged beliefs about the causes of economic differences range from genetic determinism to exploitation and discrimination. In each case, the analysis follows where the facts lead, whether that is verification, refutation or some combination of the two. Its guiding principle is expressed in a quotation from the late Daniel Patrick Moynihan that opens the final section of the book: "You're entitled to your own opinions, but you're not entitled to your own facts."
"What I am seeking here is a better understanding of the contradictions of capital, not of capitalism. I want to know how the economic engine of capitalism works the way it does, and why it might stutter and stall and sometimes appear to be on the verge of collapse. I also want to show why this economic engine should be replaced, and with what." --from the Introduction To modern Western society, capitalism is the air we breathe, and most people rarely think to question it, for good or for ill. But knowing what makes capitalism work--and what makes it fail--is crucial to understanding its long-term health, and the vast implications for the global economy that go along with it. In Seventeen Contradictions and the End of Capitalism, the eminent scholar David Harvey, author of A Brief History of Neoliberalism, examines the internal contradictions within the flow of capital that have precipitated recent crises. He contends that while the contradictions have made capitalism flexible and resilient, they also contain the seeds of systemic catastrophe. Many of the contradictions are manageable, but some are fatal: the stress on endless compound growth, the necessity to exploit nature to its limits, and tendency toward universal alienation. Capitalism has always managed to extend the outer limits through "spatial fixes," expanding the geography of the system to cover nations and people formerly outside of its range. Whether it can continue to expand is an open question, but Harvey thinks it unlikely in the medium term future: the limits cannot extend much further, and the recent financial crisis is a harbinger of this. David Harvey has long been recognized as one of the world's most acute critical analysts of the global capitalist system and the injustices that flow from it. In this book, he returns to the foundations of all of his work, dissecting and interrogating the fundamental illogic of our economic system, as well as giving us a look at how human societies are likely to evolve in a post-capitalist world.
“[Cass’s] core principle—a culture of respect for work of all kinds—can help close the gap dividing the two Americas....” – William A. Galston, The Brookings Institution

The American worker is in crisis. Wages have stagnated for more than a generation. Reliance on welfare programs has surged. Life expectancy is falling as substance abuse and obesity rates climb.

These woes are not the inevitable result of irresistible global and technological forces. They are the direct consequence of a decades-long economic consensus that prioritized increasing consumption—regardless of the costs to American workers, their families, and their communities. Donald Trump’s rise to the presidency focused attention on the depth of the nation’s challenges, yet while everyone agrees something must change, the Left’s insistence on still more government spending and the Right’s faith in still more economic growth are recipes for repeating the mistakes of the past.

In this groundbreaking re-evaluation of American society, economics, and public policy, Oren Cass challenges our basic assumptions about what prosperity means and where it comes from to reveal how we lost our way. The good news is that we can still turn things around—if the nation’s proverbial elites are willing to put the American worker’s interests first.

Which is more important, pristine air quality, or well-paying jobs that support families? Unfettered access to the cheapest labor in the world, or renewed investment in the employment of Americans? Smoothing the path through college for the best students, or ensuring that every student acquires the skills to succeed in the modern economy? Cutting taxes, expanding the safety net, or adding money to low-wage paychecks?

The renewal of work in America demands new answers to these questions. If we reinforce their vital role, workers supporting strong families and communities can provide the foundation for a thriving, self-sufficient society that offers opportunity to all.
Selected as a Financial Times Best Book of 2013 Governments today in both Europe and the United States have succeeded in casting government spending as reckless wastefulness that has made the economy worse. In contrast, they have advanced a policy of draconian budget cuts--austerity--to solve the financial crisis. We are told that we have all lived beyond our means and now need to tighten our belts. This view conveniently forgets where all that debt came from. Not from an orgy of government spending, but as the direct result of bailing out, recapitalizing, and adding liquidity to the broken banking system. Through these actions private debt was rechristened as government debt while those responsible for generating it walked away scot free, placing the blame on the state, and the burden on the taxpayer. That burden now takes the form of a global turn to austerity, the policy of reducing domestic wages and prices to restore competitiveness and balance the budget. The problem, according to political economist Mark Blyth, is that austerity is a very dangerous idea. First of all, it doesn't work. As the past four years and countless historical examples from the last 100 years show, while it makes sense for any one state to try and cut its way to growth, it simply cannot work when all states try it simultaneously: all we do is shrink the economy. In the worst case, austerity policies worsened the Great Depression and created the conditions for seizures of power by the forces responsible for the Second World War: the Nazis and the Japanese military establishment. As Blyth amply demonstrates, the arguments for austerity are tenuous and the evidence thin. Rather than expanding growth and opportunity, the repeated revival of this dead economic idea has almost always led to low growth along with increases in wealth and income inequality. Austerity demolishes the conventional wisdom, marshaling an army of facts to demand that we austerity for what it is, and what it costs us.
A powerful wake-up call to all Americans

With only 6 percent of the world’s population, how long will the United States remain a global superpower? The answer, David Boren tells us in A Letter to America, depends on asking ourselves tough questions. A powerful wake-up call to Americans, A Letter to America, forces us to take a bold, objective look at ourselves.

In A Letter to America, Boren explains with unsparing clarity why the country is at a crossroads and why decisive action is urgently needed and offers us an ambitious, hopeful plan.

What the country needs, Boren asserts, are major reforms to restore the ability of our political system to act responsibly. By relying on our shared values, we can replace cynicism with hope and strengthen our determination to build a better future. We must fashion a post–Cold War foreign policy that fits twenty-first-century realities—including multiple contending superpowers. We must adopt campaign finance reform that curbs the influence of special interests and restores political power to the voters. Universal health care coverage, budget deficit reduction, affordable higher education, and a more progressive tax structure will strengthen the middle class.

Boren also describes how we can renew our emphasis on quality primary and secondary education, revitalize our spirit of community, and promote volunteerism. He urges the teaching of more American history and government, for without educated citizens our system cannot function and our rights will not be preserved. Unless we understand how we became great, we will not remain great.

The plan Boren puts forward is optimistic and challenges Americans to look into the future, decide what we want to be and where we want to go, and then implement the policies and actions we need to take us there.

A significant contribution to political ecology, Conservation Is Our Government Now is an ethnographic examination of the history and social effects of conservation and development efforts in Papua New Guinea. Drawing on extensive fieldwork conducted over a period of seven years, Paige West focuses on the Crater Mountain Wildlife Management Area, the site of a biodiversity conservation project implemented between 1994 and 1999. She describes the interactions between those who ran the program—mostly ngo workers—and the Gimi people who live in the forests surrounding Crater Mountain. West shows that throughout the project there was a profound disconnect between the goals of the two groups. The ngo workers thought that they would encourage conservation and cultivate development by teaching Gimi to value biodiversity as an economic resource. The villagers expected that in exchange for the land, labor, food, and friendship they offered the conservation workers, they would receive benefits, such as medicine and technology. In the end, the divergent nature of each group’s expectations led to disappointment for both.

West reveals how every aspect of the Crater Mountain Wildlife Management Area—including ideas of space, place, environment, and society—was socially produced, created by changing configurations of ideas, actions, and material relations not only in Papua New Guinea but also in other locations around the world. Complicating many of the assumptions about nature, culture, and development underlying contemporary conservation efforts, Conservation Is Our Government Now demonstrates the unique capacity of ethnography to illuminate the relationship between the global and the local, between transnational processes and individual lives.

Pulitzer Prize winner Hedrick Smith’s new book is an extraordinary achievement, an eye-opening account of how, over the past four decades, the American Dream has been dismantled and we became two Americas.
 
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
The Federal Reserve System--the central bank of the United States, better known as The Fed--has never been more controversial. Criticism has reached such levels that Congressman Ron Paul, contender for the Republican presidential nomination in 2012, published End the Fed, with blurbs from musician Arlo Guthrie and actor Vince Vaughn. And yet, amid a slow economy and partisan gridlock, the Fed has never been more important. Stephen H. Axilrod explains this influential agency-its powers, operations, how it sets policy-in The Federal Reserve, a timely addition to Oxford's acclaimed series, What Everyone Needs to Know®. Of the two major governmental tools for shaping the economy, Congress controls fiscal policy-taxation and spending-and the Fed makes monetary policy-influencing how much money circulates in the economy, and how quickly. Traditionally the Fed has relied on three instruments: open-market operations (buying and selling U.S. bonds), lending to banks, and setting reserve requirements on bank deposits. It also helps to regulate the financial system. Drawing on years of experience inside the Federal Reserve System, Axilrod shows how these tools actually work, and answers a series of increasingly detailed questions in the series format. He asks, for instance, if the system of regional Fed banks needs modification for today's technological landscape; if there is corruption in the Fed's governance; what happens to profits from its operations; the impact of political pressure; the extent of Congressional oversight; and just how independent it truly is. Whether discussing the Fed's balance sheet through the financial crisis of 2008 and beyond, the federal funds rate, or the international context, Axilrod displays a mastery of his subject. Coming in time for the Fed's 100th anniversary in 2013, this book deftly explains an institution that every American needs to understand. What Everyone Needs to Know® is a registered trademark of Oxford University Press.
Much of what is written about colleges and universities ties rapidly rising tuition to dysfunctional behavior in the academy. Common targets of dysfunction include prestige games among universities, gold plated amenities, and bloated administration. This book offers a different view. To explain rising college cost, the authors place the higher education industry firmly within the larger economic history of the United States. The trajectory of college cost is similar to cost behavior in many other industries, and this is no coincidence. Higher education is a personal service that relies on highly educated labor. A technological trio of broad economic forces has come together in the last thirty years to cause higher education costs, and costs in many other industries, to rise much more rapidly than the inflation rate. The main culprit is economic growth itself. This finding does not mean that all is well in American higher education. A college education has become less reachable to a broad swathe of the American public at the same time that the market demand for highly educated people has soared. This affordability problem has deep roots. The authors explore how cost pressure, the changing wage structure of the US economy, and the complexity of financial aid policy combine to reduce access to higher education below what we need in the 21st century labor market. This book is a call to calm the rhetoric of blame and to instead find policies that will increase access to higher education while preserving the quality of our colleges and universities.
For more than thirty years, Kevin Phillips' insight into American politics and economics has helped to make history as well as record it. His bestselling books, including The Emerging Republican Majority (1969) and The Politics of Rich and Poor (1990), have influenced presidential campaigns and changed the way America sees itself. Widely acknowledging Phillips as one of the nation's most perceptive thinkers, reviewers have called him a latter-day Nostradamus and our "modern Thomas Paine." Now, in the first major book of its kind since the 1930s, he turns his attention to the United States' history of great wealth and power, a sweeping cavalcade from the American Revolution to what he calls "the Second Gilded Age" at the turn of the twenty-first century.

The Second Gilded Age has been staggering enough in its concentration of wealth to dwarf the original Gilded Age a hundred years earlier. However, the tech crash and then the horrible events of September 11, 2001, pointed out that great riches are as vulnerable as they have ever been. In Wealth and Democracy, Kevin Phillips charts the ongoing American saga of great wealth–how it has been accumulated, its shifting sources, and its ups and downs over more than two centuries. He explores how the rich and politically powerful have frequently worked together to create or perpetuate privilege, often at the expense of the national interest and usually at the expense of the middle and lower classes.

With intriguing chapters on history and bold analysis of present-day America, Phillips illuminates the dangerous politics that go with excessive concentration of wealth. Profiling wealthy Americans–from Astor to Carnegie and Rockefeller to contemporary wealth holders–Phillips provides fascinating details about the peculiarly American ways of becoming and staying a multimillionaire. He exposes the subtle corruption spawned by a money culture and financial power, evident in economic philosophy, tax favoritism, and selective bailouts in the name of free enterprise, economic stimulus, and national security.

Finally, Wealth and Democracy turns to the history of Britain and other leading world economic powers to examine the symptoms that signaled their declines–speculative finance, mounting international debt, record wealth, income polarization, and disgruntled politics–signs that we recognize in America at the start of the twenty-first century. In a time of national crisis, Phillips worries that the growing parallels suggest the tide may already be turning for us all.
Bill Gates's Five Books for Summer Reading 2019

From world-renowned economist Paul Collier, a candid diagnosis of the failures of capitalism and a pragmatic and realistic vision for how we can repair it.

Deep new rifts are tearing apart the fabric of the United States and other Western societies: thriving cities versus rural counties, the highly skilled elite versus the less educated, wealthy versus developing countries. As these divides deepen, we have lost the sense of ethical obligation to others that was crucial to the rise of post-war social democracy. So far these rifts have been answered only by the revivalist ideologies of populism and socialism, leading to the seismic upheavals of Trump, Brexit, and the return of the far-right in Germany. We have heard many critiques of capitalism but no one has laid out a realistic way to fix it, until now.

In a passionate and polemical book, celebrated economist Paul Collier outlines brilliantly original and ethical ways of healing these rifts—economic, social and cultural—with the cool head of pragmatism, rather than the fervor of ideological revivalism. He reveals how he has personally lived across these three divides, moving from working-class Sheffield to hyper-competitive Oxford, and working between Britain and Africa, and acknowledges some of the failings of his profession.

Drawing on his own solutions as well as ideas from some of the world’s most distinguished social scientists, he shows us how to save capitalism from itself—and free ourselves from the intellectual baggage of the twentieth century.

Charles H. Ferguson, who electrified the world with his Oscar-winning documentary Inside Job, now explains how a predator elite took over the country, step by step, and he exposes the networks of academic, financial, and political influence, in all recent administrations, that prepared the predators’ path to conquest. 
     Over the last several decades, the United States has undergone one of the most radical social and economic transformations in its history. 

·         Finance has become America’s dominant industry, while manufacturing, even for high technology industries, has nearly disappeared.

·         The financial sector has become increasingly criminalized, with the widespread fraud that caused the housing bubble going completely unpunished.

·         Federal tax collections as a share of GDP are at their lowest level in sixty years, with the wealthy and highly profitable corporations enjoying the greatest tax reductions.

·         Most shockingly, the United States, so long the beacon of opportunity for the ambitious poor, has become one of the world’s most unequal and unfair societies. 

If you’re smart and a hard worker, but your parents aren’t rich, you’re now better off being born in Munich, Germany or in Singapore than in Cleveland, Ohio or New York.
This radical shift did not happen by accident. 

     Ferguson shows how, since the Reagan administration in the 1980s, both major political parties have become captives of the moneyed elite.  It was the Clinton administration that dismantled the regulatory controls that protected the average citizen from avaricious financiers.  It was the Bush team that destroyed the federal revenue base with its grotesquely skewed tax cuts for the rich. And it is the Obama White House that has allowed financial criminals to continue to operate unchecked, even after supposed “reforms” installed after the collapse of 2008.

     Predator Nation reveals how once-revered figures like Alan Greenspan and Larry Summers became mere courtiers to the elite.  Based on many newly released court filings, it details the extent of the crimes—there is no other word—committed in the frenzied chase for wealth that caused the financial crisis.  And, finally, it lays out a plan of action for how we might take back our country and the American dream.
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