Government Money

Why were no bankers put in prison after the financial crisis of 2008? Why do CEOs seem to commit wrongdoing with impunity? The problem goes beyond banks deemed "too big to fail" to almost every large corporation in America - to pharmaceutical companies and auto manufacturers and beyond. The Chickenshit Club - an inside reference to prosecutors too scared of failure and too daunted by legal impediments to do their jobs - explains why.

The definitive biography of the most important economic statesman of our time, from the best-selling author of The Power Law and More Money Than God. Sebastian Mallaby's magisterial biography of Alan Greenspan, the product of over five years of research based on untrammeled access to his subject and his closest professional and personal intimates, brings into vivid focus the mysterious point where the government and the economy meet. To understand Greenspan's story is to see the economic and political landscape of our time in a whole new light.

In The End of Power, award-winning columnist and former Foreign Policy editor Moisés Naím illuminates the struggle between once-dominant megaplayers and the new micropowers challenging them in every field of human endeavor. Drawing on provocative, original research and a lifetime of experience in global affairs, Naím explains how the end of power is reconfiguring our world.

Leave Me Alone and I'll Make You Rich draws in entertaining fashion on history, economics, literature, philosophy, and popular culture, from growth theory to The Simpsons. It is the perfect introduction for a broad audience to McCloskey's influential explanation of how we got rich.

Late one evening, investigative journalist Bastian Obermayer receives an anonymous message offering him access to secret data. Through encrypted channels he then receives documents showing a mysterious bank transfer for $500,000,000 in gold. This is just the beginning. Obermayer and fellow Süddeutsche Zeitung journalist Frederik Obermaier find themselves immersed in a secret world where complex networks of shell companies help to hide people who don't want to be found.

In this provocative new book, Rifkin argues that the coming together of the Communication Internet with the fledgling Energy Internet and Logistics Internet in a seamless twenty-first-century intelligent infrastructure—the Internet of Things—is boosting productivity to the point where the marginal cost of producing many goods and services is nearly zero, making them essentially free.

In this broad-scoped, inside-Ottawa memoir, Thomas d’Aquino, described by Peter C. Newman as “the most powerful influence on public policy formation in Canadian history,” offers personal insights on four decades of bold leadership at the apex of power.

In 2006, Ben S. Bernanke was appointed chair of the Federal Reserve, capping a meteoric trajectory from a rural South Carolina childhood to professorships at Stanford and Princeton, to public service in Washington's halls of power. There would be no time to celebrate, however - the burst of the housing bubble in 2007 set off a domino effect that would bring the global financial system to the brink of meltdown.

China's economic growth is sputtering, the Euro is under threat, and the United States is combating serious trade disadvantages. Another Great Depression? Not quite. Noted economist and China expert Michael Pettis argues instead that we are undergoing a critical rebalancing of the world economies.

In American Oligarchs, award-winning investigative journalist Andrea Bernstein creates a vivid portrait of two emblematic American families. Their journey to the White House is a story of survival and loss, crime and betrayal, which stretches from the Gilded Age through Nazi-occupied Poland to the rising nationalism and inequality of the 21st century. Drawing on hundreds of interviews and over 100,000 pages of documents, many previously unseen or long forgotten, Bernstein traces how the families grew rich on federal programs that bolstered the middle class.

In this expert insider's account of the savings and loan debacle of the 1980s, William Black lays bare the strategies that corrupt CEOs and CFOs - in collusion with those who have regulatory oversight of their industries - use to defraud companies for their personal gain.

In the early 20th century, business elites, trade associations, wealthy powerbrokers, and media allies set out to build a new American orthodoxy: down with 'big government' and up with unfettered markets. With startling archival evidence, Oreskes and Conway document campaigns to rewrite textbooks, combat unions, and defend child labor.

Donald Trump is unlike any president we've ever had. He is the only person ever elected to be commander in chief who has not first held public office or served as a general in the military. His principles grow out of five decades of business and celebrity success - not politics - so he behaves differently from traditional politicians.

With The Firm, financial journalist Duff McDonald pulled back the curtain on consulting giant McKinsey & Company. In The Golden Passport, he reveals the inner workings of a singular nexus of power, ambition, and influence: Harvard Business School. Harvard University occupies a unique place in the public's imagination, but HBS has arguably eclipsed its parent in terms of its influence on modern society.

In January 2015, Yanis Varoufakis, an economics professor teaching in Austin, Texas, was elected to the Greek parliament with more votes than any other member of parliament. He was appointed finance minister, and, in the whirlwind five months that followed, everything he had warned about was confirmed as the "troika" (the European Central Bank, International Monetary Fund, and European Commission) stonewalled his efforts to resolve Greece's economic crisis.

Society embraces regulations that limit physical harm to others, as when smoking restrictions are defended as protecting bystanders from secondhand smoke. But we have been slower to endorse parallel steps that discourage harmful social environments, as when regulators fail to note that the far greater harm caused when someone becomes a smoker is to make others more likely to smoke. In Under the Influence, Robert Frank attributes this regulatory asymmetry to the laudable belief that individuals should accept responsibility for their own behavior.

Why is it that so many efforts by liberals to lift the Black underclass not only fail, but often harm the intended beneficiaries? In Please Stop Helping Us, Jason L. Riley examines how well-intentioned welfare programs are in fact holding Black Americans back. Minimum-wage laws may lift earnings for people who are already employed, but they price a disproportionate number of Blacks out of the labor force. Affirmative action in higher education is intended to address past discrimination, but the result is fewer Black college graduates than would otherwise exist.

The US tax code is a total write-off. Overstuffed with loopholes and special interest provisions, it works for no one - except tax lawyers, accountants, and corporations, that is - certainly not me and you. Not for the first time, we have to tear it up and start over. That happened in 1922, and again in 1954, and again in 1986. There's a pattern here; we reach this point every 32 years. Which means the next complete re-write of the tax code is due in 2018. Can we write a new tax code that is fair and simple? In fact, we can.

Soros brings together a vital collection of his writings, some never previously published. They deal with a wide range of important and timely topics: the dangers that the instruments of control produced by artificial intelligence and machine learning pose to open societies; what Soros calls his "political philanthropy"; his founding of the Central European University, the world's foremost defender of academic freedom; his philosophy; his boom/bust theory of financial markets and its policy implications; and what he calls the tragedy of the European Union.

Unraveling the mysteries of insurance markets, Liran Einav, Amy Finkelstein, and Ray Fisman explore such issues as why insurers want to know so much about us and whether we should let them obtain this information; why insurance entrepreneurs often fail (and some tricks that may help them succeed); and whether we’d be better off with government-mandated health insurance instead of letting businesses, customers, and markets decide who gets coverage and at what price.