The authors show that just as financial bubbles are an unfortunate mix of mistaken beliefs, market imperfections, and greed, political bubbles are the product of rigid ideologies, unresponsive and ineffective government institutions, and special interests. Financial market innovations--including adjustable-rate mortgages, mortgage-backed securities, and credit default swaps--become subject to legislated leniency and regulatory failure, increasing hazardous practices. The authors shed important light on the politics that blinds regulators to the economic weaknesses that create the conditions for economic bubbles and recommend simple, focused rules that should help avoid such crises in the future.
The first full accounting of how politics produces financial ruptures, Political Bubbles offers timely lessons that all sectors would do well to heed.
The idea of America as politically polarized—that there is an unbridgeable divide between right and left, red and blue states—has become a cliché. What commentators miss, however, is that increasing polarization has been closely accompanied by fundamental social and economic changes—most notably, a parallel rise in income inequality. In this second edition of Polarized America, Nolan McCarty, Keith Poole, and Howard Rosenthal use the latest data to examine the relationships of polarization, wealth disparity, immigration, and other forces. They find that inequality feeds directly into political polarization, and polarization in turn creates policies that further increase inequality.
Paul Krugman called the first edition of Polarized America “Important.... Essential reading for anyone who wants to understand what's happening to America.” The second edition has been thoroughly brought up to date. All statistical analyses, tables, and figures have been updated with data that run through 2012 or 2014, and the text has been revised to reflect the latest evidence. The chapter on campaign finance has been completely rewritten (with Adam Bonica as coauthor); the analysis shows that with so much “soft” money coming from very wealthy ideological extremists, there is even greater campaign contribution inequality than income inequality.
With a new introduction by Anthony Arnove, this edition of the classic national bestseller chronicles American history from the bottom up, throwing out the official narrative taught in schools—with its emphasis on great men in high places—to focus on the street, the home and the workplace.
Known for its lively, clear prose as well as its scholarly research, A People's History of the United States is the only volume to tell America's story from the point of view of—and in the words of—America's women, factory workers, African-Americans, Native Americans, the working poor, and immigrant laborers. As historian Howard Zinn shows, many of our country's greatest battles—the fights for a fair wage, an eight-hour workday, child-labor laws, health and safety standards, universal suffrage, women's rights, racial equality—were carried out at the grassroots level, against bloody resistance.
Covering Christopher Columbus's arrival through President Clinton's first term, A People's History of the United States features insightful analysis of the most important events in our history.