Economic Sociology

First identified by journalist Jeff Howe in a June 2006 Wired article, “crowdsourcing” describes the process by which the power of the many can be leveraged to accomplish feats that were once the province of the specialized few. Howe reveals that the crowd is more than wise - it’s talented, creative, and stunningly productive. Crowdsourcing activates the transformative power of today’s technology, liberating the latent potential within us all. It’s a perfect meritocracy, where age, gender, race, education, and job history no longer matter.

Starting with the publication of their seminal bestseller, Future Shock, Alvin and Heidi Toffler have given millions of listeners new ways to think about personal life in today’s high-speed world with its constantly changing, seemingly random impacts on our businesses, governments, families and daily lives. Now, writing with the same rare grasp and clarity that made their earlier books classics, the Tofflers turn their attention to the revolution in wealth now sweeping the planet. And once again, they provide a penetrating, coherent way to make sense of the seemingly senseless.

For a Dollar and a Dream shows how, in an era of stagnant upward mobility, millions of Americans turned to the lottery as their only chance at achieving the American Dream. Gamblers were not the only ones who bet on betting. As voters revolted against higher taxes in the late twentieth century, states saw legalized gambling as a panacea, a way of generating revenue without cutting services or raising taxes. Alongside stories of winners and losers, Jonathan Cohen charts the untold history of the nation's lottery system, revealing how players and policymakers alike got hooked.

In 1654, 23 Jewish families arrived in New Amsterdam (now New York) aboard a French privateer. They were the Sephardim, members of a proud orthodox sect that had served as royal advisors and honored professionals under Moorish rule in Spain and Portugal but were then exiled by intolerant monarchs. A small, closed, and intensely private community, the Sephardim soon established themselves as businessmen and financiers. They became powerful forces in society, with some, like banker Haym Salomon, even providing financial support to George Washington's army during the American Revolution.

As World War I drew to a close, change reverberated through the halls of England's country homes. As the sun set slowly on the British Empire, the shadows lengthened on the lawns of a thousand stately homes. In The Long Weekend, historian Adrian Tinniswood introduces us to the tumultuous, scandalous, and glamorous history of English country houses during the years between world wars.

Guilty Admissions weaves together the story of an unscrupulous college counselor named Rick Singer, and how he preyed on the desperation of some of the country's wealthiest families living in a world defined by fierce competition, who function under constant pressure to get into the "right" schools, starting with preschool; nonstop fundraising and donation demands in the form of multi-million-dollar galas and private parties; and a community of deeply insecure parents who will do anything to get their kids into name-brand colleges in order to maintain their own A-list status.

Who is the richest person in the world, ever? Does where you were born affect how much money you'll earn over a lifetime? How would we know? Why, beyond the idle curiosity, do these questions even matter? In The Haves and the Have-Nots, Branko Milanovic, one of the world's leading experts on wealth, poverty, and the gap that separates them, explains these and other mysteries of how wealth is unevenly spread throughout our world, now and through time.

Debtors have been mocked, scolded, and lied to for decades. We have been told that it is perfectly normal to go into debt to get medical care, to go to school, or even to pay for our own incarceration. We’ve been told there is no way to change an economy that pushes the majority into debt while a small minority hoard wealth and power. The coronavirus pandemic has revealed that mass indebtedness and extreme inequality are a political choice. In the early days of the crisis, elected officials drew up plans to spend trillions of dollars. The only question was: who would benefit?

In Capital, Commonwealth Prize-winning author Rana Dasgupta examines one of the great trends of our time: The expansion of the global elite. Capital is an intimate portrait of the city of Delhi, which bears witness to the extraordinary transmogrification of India's capital. But it also offers a glimpse of what capitalism will become in the coming, post-Western world. The story of Delhi is a parable for where we are all headed.

Culture will keep you fit and healthy. Culture will bring communities together. Culture will improve your education. This is the message from governments and arts organisations across the country; however, this book explains why we need to be cautious about culture. Offering a powerful call to transform the cultural and creative industries, Culture Is Bad for You examines the intersections between race, class, and gender in the mechanisms of exclusion in cultural occupations.

We are a nation founded on the ideals of coming together across differences to forge a common future. Yet over the past 50 years, our economy has been pulling us apart at unprecedented rates. By allowing top income earners and the wealthiest Americans to hoard wealth like almost never before, we belie what makes our country great. This is a threat to our wellbeing, our democracy, and our values.

These stories are about the people who make our lives run every day—and yet we barely think of them. Laskas spent weeks in an Ohio coal mine and on an Alaskan oil rig; in a Maine migrant labor camp, a Texas beef ranch, the air traffic control tower at New York’s LaGuardia Airport, a California landfill, an Arizona gun shop, the cab of a long-haul truck in Iowa, and the stadium of the Cincinnati Ben-Gals cheerleaders. All are part of hidden America, and you will be amazed by what Laskas tells you about them.

With the exception of sleep, humans spend more of their lifetimes on work than any other activity. It is central to our economy, our society, and the family. It underpins our finances and our sense of meaning in life. Given the overriding importance of work, we need to recognize a profound transformation in the nature of work that is significantly altering lives: the incoming tidal wave of shadow work. Shadow work includes all the unpaid tasks we do on behalf of businesses and organizations.

Kerri Arsenault grew up in the rural working class town of Mexico, Maine. For over 100 years, the community orbited around a paper mill that employs most townspeople, including three generations of Arsenault’s own family. Years after she moved away, Arsenault realized the price she paid for her seemingly secure childhood. The mill, while providing livelihoods for nearly everyone, also contributed to the destruction of the environment and the decline of the town’s economic, physical, and emotional health in a slow-moving catastrophe.

The author of The Celebration Chronicles - an exposé of Disney’s small town community development - returns to the outskirts of the Magic Kingdom with Sunbelt Blues, an eye-opening investigation of America’s rural and suburban homelessness crisis, told through a searing portrait of precarious living in Disney World’s backyard.

In this book, labor lawyer, former chair of the board of the New York Federal Reserve, and MacArthur "genius" Sara Horowitz brings us a solution to the current crisis of work that’s rooted in the best of American traditions, which she calls mutualism. Horowitz shows how the future of our economic safety net rests on this approach and demonstrates how mutualist organizations have helped us solve common problems in the past and are now quietly driving rural and urban economies alike all over the world.

The dark side of the gig economy (Uber, Airbnb, etc.) and how to make it equitable for the users and workers most exploited.

Did you know that 48 percent of the women in prison have committed an offence in order to support the drug use of someone else? That 46 percent of women in prison report having attempted suicide once in their lifetime? Or that over half of the women in prison have been victims of more serious crimes than the ones they've been convicted of? But this isn't a book about statistics. It's a book about the individual stories of women caught up in our creaking and under-resourced prison system.

There once was a time when Black Americans up and down the socioeconomic ladder lived in and around the same neighborhoods. Part of this was a consequence of racially discriminatory federal, state, and city housing policies, such as exclusionary Federal Housing Authority practices and racially restrictive deeds and covenants, which prevented those who had the financial means from living anywhere else. Today, many of these neighborhoods are now centers of concentrated poverty.

The Ponzi Factor is the most comprehensive research ever compiled on the negative-sum nature of capital gains (non-dividend stocks). This means, as a whole, ALL investors will lose money from buying and selling stocks. Most people don’t realize that profits from buying and selling stocks come from other investors who are also buying and selling stocks. When one investor buys low and sells high, another investor is also buying high and needs to sell for even higher.