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A brilliant account—character-rich and darkly humorous—of how the U.S. economy was driven over the cliff. Truth really is stranger than fiction. Who better than the author of the signature bestseller <em>Liar’s Poker to explain how the event we were told was impossible—the free fall of the American economy—finally occurred; how the things that we wanted, like ridiculously easy money and greatly expanded home ownership, were vehicles for that crash; and how shareholder demand for profit forced investment executives to eat the forbidden fruit of toxic derivatives.<br />
Michael Lewis’s splendid cast of characters includes villains, a few heroes, and a lot of people who look very, very foolish: high government officials, including the watchdogs; heads of major investment banks (some overlap here with previous category); perhaps even the face in your mirror. In this trenchant, raucous, irresistible narrative, Lewis writes of the goats and of the few who saw what the emperor was wearing, and gives them, most memorably, what they deserve. He proves yet again that he is the finest and funniest chronicler of our times. . 
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$15.09 |
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 (3.5 / 5.0) Throughout history, rich and poor countries alike have been lending, borrowing, crashing--and recovering--their way through an extraordinary range of financial crises. Each time, the experts have chimed, "this time is different"--claiming that the old rules of valuation no longer apply and that the new situation bears little similarity to past disasters. This book proves that premise wrong. Covering sixty-six countries across five continents, This Time Is Different presents a comprehensive look at the varieties of financial crises, and guides us through eight astonishing centuries of government defaults, banking panics, and inflationary spikes--from medieval currency debasements to today's subprime catastrophe. Carmen Reinhart and Kenneth Rogoff, leading economists whose work has been influential in the policy debate concerning the current financial crisis, provocatively argue that financial combustions are universal rites of passage for emerging and established market nations. The authors draw important lessons from history to show us how much--or how little--we have learned. Using clear, sharp analysis and comprehensive data, Reinhart and Rogoff document that financial fallouts occur in clusters and strike with surprisingly consistent frequency, duration, and ferocity. They examine the patterns of currency crashes, high and hyperinflation, and government defaults on international and domestic debts--as well as the cycles in housing and equity prices, capital flows, unemployment, and government revenues around these crises. While countries do weather their financial storms, Reinhart and Rogoff prove that short memories make it all too easy for crises to recur.<p> An important book that will affect policy discussions for a long time to come, <i>This Time Is Different exposes centuries of financial missteps.
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$19.89 |
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 (4.0 / 5.0) <strong>An incisive look at the global economic crisis, our flawed response, and the implications for the world’s future prosperity. The Great Recession, as it has come to be called, has impacted more people worldwide than any crisis since the Great Depression. Flawed government policy and unscrupulous personal and corporate behavior in the United States created the current financial meltdown, which was exported across the globe with devastating consequences. The crisis has sparked an essential debate about America’s economic missteps, the soundness of this country’s economy, and even the appropriate shape of a capitalist system.
<br /> Few are more qualified to comment during this turbulent time than Joseph E. Stiglitz. Winner of the 2001 Nobel Prize in Economics, Stiglitz is “an insanely great economist, in ways you can’t really appreciate unless you’re deep into the field” (Paul Krugman, New York Times). In <em>Freefall, Stiglitz traces the origins of the Great Recession, eschewing easy answers and demolishing the contention that America needs more billion-dollar bailouts and free passes to those “too big to fail,” while also outlining the alternatives and revealing that even now there are choices ahead that can make a difference. The system is broken, and we can only fix it by examining the underlying theories that have led us into this new “bubble capitalism.” <br /> Ranging across a host of topics that bear on the crisis, Stiglitz argues convincingly for a restoration of the balance between government and markets. America as a nation faces huge challenges—in health care, energy, the environment, education, and manufacturing—and Stiglitz penetratingly addresses each in light of the newly emerging global economic order. An ongoing war of ideas over the most effective type of capitalist system, as well as a rebalancing of global economic power, is shaping that order. The battle may finally give the lie to theories of a “rational” market or to the view that America’s global economic dominance is inevitable and unassailable.<br /> For anyone watching with indignation while a reckless Wall Street destroyed homes, educations, and jobs; while the government took half-steps hoping for a “just-enough” recovery; and while bankers fell all over themselves claiming not to have seen what was coming, then sought government bailouts while resisting regulation that would make future crises less likely, Freefall offers a clear accounting of why so many Americans feel disillusioned today and how we can realize a prosperous economy and a moral society for the future. .
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$17.79 |
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 (4.5 / 5.0) START-UP NATION addresses the trillion dollar question: How is it that Israel-- a country of 7.1 million, only 60 years old, surrounded by enemies, in a constant state of war since its founding, with no natural resources-- produces more start-up companies than large, peaceful, and stable nations like Japan, China, India, Korea, Canada and the UK?
With the savvy of foreign policy insiders, Senor and Singer examine the lessons of the country's adversity-driven culture, which flattens hierarchy and elevates informality-- all backed up by government policies focused on innovation. In a world where economies as diverse as
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$14.63 |
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(4.0 / 5.0) Today's financial and economic tribulations were a long time in the making. Many people ask, "Why didn't someone see it coming?" A New York Times bestselling book did see it coming. Over 100,000 people read it in time to protect their wealth. The book foresaw and explained the collapse in home prices, plunge in stocks, subprime debacle, liquidity crisis, the demise of Fannie and Freddie, the Federal Reserve's failure to turn the trend, and lots more. The book was Robert Prechter?s Conquer the Crash, published in early 2002, when the Dow was above 10,000 and the financial world was partying around-the-clock.
Fast forward to today: the average U.S. homeowner has suffered a decline of 30% to 40% in property value. Stocks and commodities had their biggest fall since 1929-1932. Fannie Mae is a zombie corporation under the government?s protection. The Fed has pushed every button at its disposal (and then some), to no avail. If Prechter thought a whole new book would help, he'd have written one. But <b>Conquer the Crash is a book-length forecast that's still coming true -- only some of the future has caught up with the specific predictions he published back then. There is much more to come. That means more danger, but also great opportunity. Conquer the Crash, 2nd edition offers you 188 new pages of vital information (480 pages total) plus all the original forecasts and recommendations that make the book more compelling and relevant than the day it published. <p> In every disaster, only a very few people prepare themselves beforehand. Think about investor enthusiasm in 2005-2008, and you'll realize it's true. Even fewer people will be ready for the soon-approaching, next leg down of the unfolding depression. In this 2nd edition, Prechter gives a warning he's never had to include in 30 years of publishing -- namely, that the doors to financial safety are closing all over the world. In other words, prudent people need to act while they can. Conquer the Crash, 2nd Edition readers will receive exclusive online access to the Conquer the Crash Readers Page, where Prechter continually updates the book's recommended services and institutions.
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$16.94 |
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(3.5 / 5.0) With new material from the author<P> "Economic hit men," John Perkins writes," are highly paid professionals who cheat countries around the globe out of trillions of dollars. Their tools include fraudulent financial reports, rigged elections, payoffs, extortion, sex, and murder. They play a game as old as Empire but one that has taken on terrifying dimensions during this time of globalization." John Perkins should know-he was an economic hit man for an international consulting firm that worked to convince developing countries to accept enormous loans and to funnel that money to U.S. corporations. Once these countries were saddled with huge debts, the American government and international aid agencies were able to request their "pound of flesh" in favors, including access to natural resources, military cooperation, and political support. <I>Confessions of an Economic Hit Man is the story of one man's experiences inside the intrigue, greed, corruption and little-known government and corporate activities that America has been involved in since World War II, and which have dire consequences for the future of democracy and the world.
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$7.39 |
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(4.5 / 5.0) Part economic primer, part fiscal and historical analysis, <I>New Yorker and London Review of Books contributor John Lanchester offers his brilliantly witty, succinct overview of the current financial crisis.<P>For most people, the reasons for the sudden collapse of our economy remain obscure. I.O.U. is the story of how we came to experience such a complete and devastating financial implosion, and how the decisions and actions of a select group of individuals had profound consequences for America, Europe, and the global economy overall. John Lanchester begins with "The ATM Moment," that seemingly magical proliferation of cheap credit that led to an explosion of lending, and then deftly outlines the global and local landscapes of banking and finance. Viewing the crisis through the lens of politics, culture, and contemporary history -- from the invention and widespread misuse of financial instruments to the culpability of subprime mortgages -- Lanchester draws perceptive conclusions on the limitations of financial and governmental regulation, capitalism's deepest flaw, and, most important, on the plain and simple facts of human nature where cash is concerned. Weaving together firsthand research and superbly written reportage, Lanchester delivers a shrewd perspective and a digestible, comprehensive analysis that connects the dots for the expert and casual reader alike. I.O.U. is an eye-opener of a book -- it may well provoke anger, amazement, or rueful disbelief -- and, as the author clearly reveals, we've only just begun to get ourselves back on track.
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$14.10 |
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(3.5 / 5.0) The bestselling, landmark work of undercover reportage, now updated Acclaimed as an instant classic upon publication, Nickel and Dimed has sold more than 1.5 million copies and become a staple of classroom reading. Chosen for “one book” initiatives across the country, it has fueled nationwide campaigns for a living wage. Funny, poignant, and passionate, this revelatory firsthand account of life in low-wage America—the story of Barbara Ehrenreich’s attempts to eke out a living while working as a waitress, hotel maid, house cleaner, nursing-home aide, and Wal-Mart associate—has become an essential part of the nation’s political discourse. Now, in a new afterword, Ehrenreich shows that the plight of the underpaid has in no way eased: with fewer jobs available, deteriorating work conditions, and no pay increase in sight, Nickel and Dimed is more relevant than ever. Barbara Ehrenreich is the author of fourteen books, including Dancing in the Streets and <I>The<I>New York Times bestsellers Nickel and Dimed and <I>Bait and Switch. A frequent contributor to Harper’s and The Nation, she has also been a columnist at The New York Times and <I>Time magazine. Winner of the Los Angeles Times Book Prize Millions of Americans work full-time, year-round, for poverty-level wages. Inspired in part by the rhetoric surrounding welfare reform, which promised that a job—any job—can be the ticket to a better life, Barbara Ehrenreich decided to join them. But how does anyone survive, let alone prosper, on $6 an hour? To find out, Ehrenreich left her home, took the cheapest lodgings she could find, and accepted whatever jobs she was offered. Moving from Florida to Maine to Minnesota, she worked as a waitress, a hotel maid, a cleaning woman, a nursing home aide, and a Wal-Mart sales clerk. She lived in trailer parks and crumbling residential motels. Very quickly, she discovered that no job is truly "unskilled," that even the lowliest occupations require exhausting mental and muscular effort. She also learned that one job is not enough; you need at least two if you intend to live indoors. Nickel and Dimed reveals low-rent America in all its tenacity, anxiety, and surprising generosity—a land of Big Boxes, fast food, and a thousand desperate strategems for survival. Read it for the clarity of Ehrenreich's perspective and for a rare view of how "prosperity" looks from the bottom.<DIV><DIV>"A valuable and illuminating book . . . We have Barbara Ehrenreich to thank for bringing us the news of America's working poor so clearly and directly, and conveying with it a deep moral outrage . . . She is our premier reporter of the underside of capitalism."—<B>Dorothy Gallagher, The New York Times Book Review "A valuable and illuminating book . . . We have Barbara Ehrenreich to thank for bringing us the news of America's working poor so clearly and directly, and conveying with it a deep moral outrage . . . She is our premier reporter of the underside of capitalism."—Dorothy Gallagher, The New York Times Book Review
"Nickel and Dimed is a superb and frightening look into the lives of hard-working Americans . . . policymakers should be forced to read the last ten pages of Ehrenreich's book in which she concludes that affordable rent, food and health care should be among the chief measurements of a healthy economy, not simply high productivity and employment."—<B>Tamara Straus, <I>San Francisco Chronicle<BR><BR>"This book is thoroughly enjoyable, written with an affable, up-your-nose brio throughout. Ehrenreich is a superb and relaxed stylist, and she has a tremendous sense of rueful humor, especially when it comes to the evils of middle-management, absentee ownership and all the little self-consecrating bourgeois touches gracing the homes she sterilizes, inch-by-square-inch, as a maid in Maine."—Stephen Metcalf, Los Angeles Times "With grace and wit, Ehrenreich discovers the irony of being 'nickel and dimed' during unprecedented prosperity . . . Living wages, she elegantly shows, might erase the shame that comes from our dependence 'on the underpaid labor of others."—<B>Eileen Boris, The Boston Globe "A captivating account . . . Just promise that you will read this explosive little book cover to cover and pass it on to all your friends and relatives."—Diana Henriques, The New York Times<BR><BR>"There is much to be learned from Nickel and Dimed. It opens a window into the daily lives of the invisible workforce that fuels the service economy, and endows the men and women who populate it with the honor that is often lacking on the job . . . In the grand tradition of the muckraking journalist, [Ehrenreich] goes undercover for nearly a year . . . What emerges is an insider's view of the worst jobs (other than agricultural labor) the 'new economy' has to offer."—<B>Katherine Newman, The Washington Post Book World<BR><BR>"Ehrenreich is a wonderful writer. Her descriptions of people and places stay with you. If nothing else, this book illuminates the invisible army that scrubs floors, waits tables and straightens the racks at discount stores. That alone makes Ehrenreich's odyssey worthwhile."—Sandy Block, USA Today "Nickel and Dimed is an 'old-fashioned,' in-your-face exposé . . . this important volume will force anyone who reads it to acknowledge the often desperate plight of Ehrenreich's subjects."—<B>Anne Colamosca, Business Week<BR><BR>"Jarring, full of riveting grit . . . This book is already unforgettable."—Susannah Meadows, Newsweek "I commend Barbara Ehrenreich for conducting such an important experiment. Millions of Americans suffer daily trying to make ends meet. Ehrenreich's book forces people to acknowledge the average worker's struggle and promises to be extremely influential."—<B>Lynn Woolsey, U.S. Congress, Representing California's Sixth District<BR><BR>"A brilliant on-the-job report from the dark side of the boom. No one since H.L. Mencken has assailed the smug rhetoric of prosperity with such scalpel-like precision and ferocious wit."—Mike Davis, author of Ecology of Fear "With this book Barbara Ehrenreich takes her place among such giants of investigative journalism as George Orwell and Jack London. Ehrenreich's courage, empathy, and the immediacy with which she describes her experience bring us face to face with the fate of millions of American workers today."—Frances Fox Piven, author of Regulating the Poor<BR><BR>"I was absolutely knocked out by Barbara Ehrenreich's remarkable odyssey as a waitress, hotel maid, cleaning woman, nursing home aide and sales clerk. She has accomplished what no contemporary writer has even attempted—to be that 'nobody' who barely subsists on her essential labors. It is a stiff punch in the nose to those righteous apostles of 'welfare reform.' Not only is it must reading but it's mesmeric. You can't put the damn thing down. Bravo!"—<B>Studs Terkel, author of<I> Working "One of the great American social critics, Barbara Ehrenreich has written an unforgettable memoir of what it was like to work in some of America's least attractive jobs. Nickel and Dimed is a passionate meditation on the blindness of those with money and power. It is one of those rare books that wi
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$6.41 |
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 (5.0 / 5.0) The unique historical relationship between capitalism and the Jews is crucial to understanding modern European and Jewish history. But the subject has been addressed less often by mainstream historians than by anti-Semites or apologists. In this book Jerry Muller, a leading historian of capitalism, separates myth from reality to explain why the Jewish experience with capitalism has been so important and complex--and so ambivalent.<p> Drawing on economic, social, political, and intellectual history from medieval Europe through contemporary America and Israel, <i>Capitalism and the Jews examines the ways in which thinking about capitalism and thinking about the Jews have gone hand in hand in European thought, and why anticapitalism and anti-Semitism have frequently been linked. The book explains why Jews have tended to be disproportionately successful in capitalist societies, but also why Jews have numbered among the fiercest anticapitalists and Communists. The book shows how the ancient idea that money was unproductive led from the stigmatization of usury and the Jews to the stigmatization of finance and, ultimately, in Marxism, the stigmatization of capitalism itself. Finally, the book traces how the traditional status of the Jews as a diasporic merchant minority both encouraged their economic success and made them particularly vulnerable to the ethnic nationalism of the nineteenth and twentieth centuries. Providing a fresh look at an important but frequently misunderstood subject, Capitalism and the Jews will interest anyone who wants to understand the Jewish role in the development of capitalism, the role of capitalism in the modern fate of the Jews, or the ways in which the story of capitalism and the Jews has affected the history of Europe and beyond, from the medieval period to our own.
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$14.99 |
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(4.5 / 5.0) Why are we in such a financial mess today? There are lots of proximate causes: over-leverage, global imbalances, bad financial technology that lead to widespread underestimation of risk. But these are all symptoms. Until we isolate and tackle fundamental causes, we will fail to extirpate the disease. ECONned is the first book to examine the unquestioned role of economists as policy-makers, and how they helped create an unmitigated economic disaster. Here, Yves Smith looks at how economists in key policy positions put doctrine before hard evidence, ignoring the deteriorating conditions and rising dangers that eventually led them, and us, off the cliff and into financial meltdown. Intelligently written for the layman, Smith takes us on a terrifying investigation of the financial realm over the last twenty-five years of misrepresentations, naive interpretations of economic conditions, rationalizations of bad outcomes, and rejection of clear signs of growing instability. In eConned, author Yves Smith reveals: --why the measures taken by the Obama Administration are mere palliatives and are unlikely to pave the way for a solid recovery --how economists have come to play a profoundly anti-democratic role in policy --how financial models and concepts that were discredited more than thirty years ago are still widely used by banks, regulators, and investors --how management and employees of major financial firms looted them, enriching themselves and leaving the mess to taxpayers<P>--how financial regulation enabled predatory behavior by Wall Street towards investors <P>--how economics has no theory of financial systems, yet economists fearlessly prescribe how to manage them
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$17.78 |