House Economics

In the beginning was Josh Levine, an idealistic programming genius who dreamed of wresting control of the market from the big exchanges that, again and again, gave the giant institutions an advantage over the little guy. Levine created a computerized trading hub named "Island" where small traders swapped stocks, and over time his invention morphed into a global electronic stock market that sent trillions in capital through a vast jungle of fiber-optic cables.

Heather McGhee’s specialty is the American economy—and the mystery of why it so often fails the American public. From the financial crisis of 2008 to rising student debt to collapsing public infrastructure, she found a root problem: racism in our politics and policymaking. But not just in the most obvious indignities for people of color. Racism has costs for white people, too. It is the common denominator of our most vexing public problems, the core dysfunction of our democracy and constitutive of the spiritual and moral crises that grip us all.

We live in the age of the algorithm. Increasingly, the decisions that affect our lives—where we go to school, whether we can get a job or a loan, how much we pay for health insurance—are being made not by humans, but by machines. In theory, this should lead to greater fairness: Everyone is judged according to the same rules.

Imagine: you are designing a society, but you don't know who you'll be within it - rich or poor, man or woman, gay or straight. What would you want that society to look like? This is the revolutionary thought experiment proposed by the twentieth century's greatest political philosopher, John Rawls. As economist and philosopher Daniel Chandler argues in this hugely ambitious and exhilarating manifesto, it is by rediscovering Rawls that we can find a way out of the escalating crises that are devastating our world today.

David Rakoff's best-selling collection of autobiographical essays, Fraud, established him as one of today's funniest and most insightful writers. Now, in Don't Get Too Comfortable, Rakoff moves from the personal to the public, journeying into the land of unchecked plenty that is contemporary America. Rarely have greed, vanity, selfishness, and vapidity been so mercilessly and wittily skewered.

Denise Hamilton has always believed in the power and promise of a word she learned as a schoolgirl: “indivisible.” In her groundbreaking debut, she challenges listeners to move beyond current notions of diversity and inclusion to build communities, workplaces, and relationships that live up to that word. She urges us to reexamine long-held beliefs and habits and to dismantle hierarchies that shape our current society. If we want to repair the fraying stitches that bind us together, if we want to build a truly close-knit collective, we cannot settle for our present approach.

Millions of Americans have lost confidence in our political and economic system. After years of stagnant wages, volatile job markets, and an unwillingness by those in power to deal with profound threats such as climate change, there is a mounting sense that the system is fixed, serving only those select few with enough money to secure a controlling stake. With the characteristic clarity and passion that has made him a central civil voice, Robert B. Reich shows how wealth and power have interacted to install an elite oligarchy, eviscerate the middle class, and undermine democracy.

In March 2006, the world’s richest men sipped champagne in an opulent New York hotel. They were preparing to compete in a poker tournament with ­million-dollar stakes. At the card table that night was Peter Muller, who managed a fabulously successful hedge fund called PDT. With him was Ken Griffin, who was the tough-as-nails head of Citadel Investment Group. There, too, were Cliff Asness, the sharp-tongued, mercurial founder of the hedge fund AQR Capital Management, and Boaz Weinstein, chess “life master” and king of the credit-default swap.

From a Pulitzer Prize–winning historian: a searing study of the British Empire that probes the country's pervasive use of violence throughout the twentieth century and traces how these practices were exported, modified, and institutionalized in colonies around the globe.

What does it mean to be a human in a world that is increasingly built by and for machines? In Futureproof: 9 Rules for Humans in the Age of Automation, New York Times technology columnist Kevin Roose lays out a hopeful, pragmatic vision of how people can succeed in the machine age by making themselves irreplaceably human. He shares the secrets of people and organizations that have survived technological change, and explains how we can protect our own futures.

Andrea Elliott follows eight dramatic years in the life of Dasani, a girl whose imagination is as soaring as the skyscrapers near her Brooklyn shelter. In this sweeping narrative, Elliott weaves the story of Dasani’s childhood with the history of her ancestors, tracing their passage from slavery to the Great Migration north. As Dasani comes of age, New York City’s homeless crisis has exploded, deepening the chasm between rich and poor. She must guide her siblings through a world riddled by hunger, violence, racism, drug addiction, and the threat of foster care.

Struggling with a recession... European nations at risk of defaulting on their loans... A possible global financial crisis. It happened before, in the 1970s. The Oil Kings is the story of how oil came to dominate U.S. domestic and international affairs. Brilliantly reported and filled with astonishing details about some of the key figures of the time, this is the history of an era that we thought we knew, an era whose momentous reverberations still influence events at home and abroad today.

From the number one best-selling author of Why Your World Is About to Get a Whole Lot Smaller, a provocative, far-reaching account of how the middle class got stuck with the bill for globalization, and how the blowback - from Brexit to Trump to populist Europe - will change the developed world.

Our kids are smart, our banks are sound, our health care system is humane, our democracy is stable - but technological change is about to disrupt our economy and threaten our way of life. Canadians aren't ready for the race to the future. Can we still catch up - or even win? Yes, says Anthony Lacavera, one of Canada's most successful entrepreneurs and venture capitalists. But we need to change the way we think and talk about our own abilities - dream bigger, aim higher, and go for gold, not bronze.

In this endlessly fascinating book, New Yorker columnist James Surowiecki explores a deceptively simple idea that has profound implications: large groups of people are smarter than an elite few, no matter how brilliant. Groups are better at solving problems, fostering innovation, coming to wise decisions, even predicting the future.

The high-energy tale of how two socially awkward Ivy Leaguers, trying to increase their chances with the opposite sex, ended up creating Facebook. Eduardo Saverin and Mark Zuckerberg were Harvard undergraduates and best friends - outsiders at a school filled with polished prep-school grads and long-time legacies. They shared both academic brilliance in math and a geeky awkwardness with women. The Accidental Billionaires is a compulsively listenable story of innocence lost - and of the unusual creation of a company that has revolutionized the way people relate to one another.

Over the past decade, Americans watched in bafflement and rage as one institution after another - from Wall Street to Congress, the Catholic Church to corporate America, even Major League Baseball - imploded under the weight of corruption and incompetence. In the wake of the Fail Decade, Americans have historically low levels of trust in their institutions; the social contract between ordinary citizens and elites lies in tatters. How did we get here? Christopher Hayes offers a radically novel answer.

There is no better guide than Paul Krugman to basic economics, the ideas that animate much of our public policy. Likewise, there is no stronger foe of zombie economics, the misunderstandings that just won’t die. In Arguing with Zombies, Krugman tackles many of these misunderstandings, taking stock of where the United States has come from and where it’s headed in a series of concise, digestible chapters. Drawn mainly from his popular New York Times column, they cover a wide range of issues, organized thematically and framed in the context of a wider debate.

Completely rewritten for today's business world, What the CEO Wants You to Know, expanded and updated, written by best-selling author Ram Charan, describes the fundamentals behind every business, from street vendors in Mumbai to Fortune 500 companies. Drawing on stories from Uber, Amazon, Apple, Toyota, Netflix, Lyft, The Limited, Walmart, GE, and Starbucks, Charan, in the most accessible language imaginable, explains the ins and outs of how companies work.

In 2006, hedge fund manager John Paulson realized something few others suspected - that the housing market and the value of subprime mortgages were grossly inflated and headed for a major fall. Paulson's background was in mergers and acquisitions, however, and he knew little about real estate or how to wager against housing. He had spent a career as an also-ran on Wall Street. But Paulson was convinced this was his chance to make his mark. He just wasn't sure how to do it. Colleagues at investment banks scoffed at him and investors dismissed him.