Market History

With high stock and bond prices and the rising cost of housing, the post-subprime boom may well turn out to be another illustration of Shiller's influential argument that psychologically driven volatility is an inherent characteristic of all asset markets. In other words, Irrational Exuberance is as relevant as ever. Previous editions covered the stock and housing markets - and famously predicted their crashes. This edition expands its coverage to include the bond market, so that the book now addresses all of the major investment markets.

Who made the first snowman? Who first came up with the idea of placing snowballs on top of each other, and who decided they would use a carrot for a nose? Most puzzling of all: How can this mystery ever be solved, with all the evidence long since melted? The snowman appears everywhere on practically everything - from knickknacks to greeting cards to seasonal sweaters we plan to return.

In this absorbing, smart, and accessible blend of economic and cultural history in the vein of the works of Michael Lewis and Andrew Ross Sorkin, a financial executive and CNBC contributor examines the five most significant stock market crashes in the United States over the past century, revealing how they have defined the nation today.

The Shadow Market is a meeting point for faeries, werewolves, warlocks, and vampires. There, the Downworlders buy and sell magical objects, make dark bargains, and whisper secrets they do not want the Nephilim to know. As a Silent Brother, Brother Zachariah is a sworn keeper of the laws and lore of the Nephilim. But once he was a Shadowhunter called Jem Carstairs, and his love, then and always, is the warlock Tessa Gray. And Jem is searching through the Shadow Markets, in many different cities over long years, for a relic from his past.

Richard H. Thaler has spent his career studying the radical notion that the central agents in the economy are humans - predictable, error-prone individuals. Misbehaving is his arresting, frequently hilarious account of the struggle to bring an academic discipline back down to earth - and change the way we think about economics, ourselves, and our world.

Americans have long been skeptical of corporations, and that skepticism has only grown more intense in recent years. Meanwhile, corporations continue to amass wealth and power at a dizzying rate, recklessly pursuing profit while leaving society to sort out the costs. In For Profit, law professor William Magnuson argues that the story of the corporation didn’t have to come to this. Throughout history, he finds, corporations have been purpose-built to benefit the societies that surrounded them.

David Boaz presents the essential guidebook to the libertarian perspective, detailing its roots, central tenets, solutions to contemporary policy dilemmas, and future in American politics. He confronts head-on the tough questions frequently posed to libertarians: What about inequality? Who protects the environment? What ties people together if they are essentially self-interested?

"Market Evolution: The Creation, History, and Future of the Stock Market" is an in-depth exploration of one of the most influential institutions in the global economy. From its origins in the early days of trade and commerce to its role in shaping modern finance, this book provides a comprehensive look at the stock market's evolution, key milestones, and enduring impact on businesses, investors, and societies worldwide.

In Lombard Street, the money market is pictured as it really was in 1850-1870 and as Bagehot saw it with philosophic eyes.

On May 6, 2010, financial markets around the world tumbled simultaneously and without warning. In the span of five minutes, a trillion dollars of valuation was lost. The Flash Crash, as it became known, represented the fastest drop in market history. When share values rebounded less than half an hour later, experts around the globe were left perplexed. A real-life financial thriller, Flash Crash uncovers the remarkable, behind-the-scenes narrative of a mystifying market crash, a globe-spanning investigation into international fraud, and the man at the center of them both.

The Mobile Wave argues that the changes brought by mobile computing are so big and widespread that it’s impossible for us to see it all, even though we are all immersed in it. Saylor explains that the current generation of mobile smart phones and tablet computers has set the stage to become the universal computing platform for the world. In the hands of billions of people and accessible anywhere and anytime, mobile computers are poised to become an appendage of the human being and an essential tool for modern life.

After two government bailouts of the US economy in less than twenty years, free market ideology is due for serious reappraisal. In Free Market, Jacob Soll details how we got to this current crisis, and how we can find our way out by looking to earlier iterations of free market thought. Tracing the intellectual evolution of the free market from Cicero to Milton Friedman, Soll argues that we need to go back to the origins of free market ideology in order to truly understand it—and to develop new economic concepts to face today’s challenges.

The Great Recession, institutional dysfunction, a growing divide between urban and rural prospects, and failed efforts to effectively address immigration have paved the way for a populist backlash that disrupts the postwar bargain between political elites and citizens. Whether today's populism represents a corrective to unfair and obsolete policies or a threat to liberal democracy remains up for debate. To respond to today's crisis, good leaders must strive for inclusive economic growth while addressing social and cultural issues, including demographic anxiety, with frank attention.

A masterful account of today's money culture, showing how the underpricing of risk leads to catastrophe. With his trademark humor and brilliant anecdotes, Michael Lewis paints the mood and market factors leading up to each event, weaves contemporary accounts to show what people thought was happening at the time, and then, with the luxury of hindsight, analyzes what actually happened and what we should have learned from experience.

Burns highlights the two facets of Rand's work that make her a perennial draw for those on the right: Her promotion of capitalism, and her defense of limited government. Both sprang from her early, bitter experience of life under Communism, and became among the most deeply enduring of her messages, attracting a diverse audience of college students and intellectuals, business people and Republican Party activists, libertarians and conservatives.

To be sure, neoliberalism has contributed to a number of alarming trends, not least of which has been a massive growth in income inequality. Yet as the eminent historian Gary Gerstle argues in The Rise and Fall of the Neoliberal Order, these indictments fail to reckon with the full contours of what neoliberalism was and why its worldview had such persuasive hold on both the right and the left for three decades.

Emotions are inseparable from how we humans think, choose, and act. In Emotional Design, cognitive scientist Don Norman shows how the principles of human psychology apply to the invention and design of new technologies and products. In The Design of Everyday Things, Norman made the definitive case for human-centered design, showing that good design demanded that the user's must take precedence over a designer's aesthetic if anything, from light switches to airplanes, was going to work as the user needed.

This insightful study explores how the economic system Vladimir Putin has developed in Russia works to consolidate control over the country. By appointing his close associates as heads of state enterprises and by giving control of the FSB and the judiciary to his friends from the KGB, he has enriched his business friends from Saint Petersburg with preferential government deals. Thus, Putin has created a super wealthy and loyal plutocracy that owes its existence to authoritarianism.

In this signal work of history, Bancroft Prize winner and Pulitzer Prize finalist Lizabeth Cohen shows how the pursuit of prosperity after World War II fueled our pervasive consumer mentality and transformed American life. Trumpeted as a means to promote the general welfare, mass consumption quickly outgrew its economic objectives and became synonymous with patriotism, social equality, and the American Dream.

Our world is being transformed by the Internet and the near limitless choice that it provides to consumers; tomorrow's markets belong to those who can take advantage of this. The Long Tail is really about the economics of abundance, an entirely new model for business that is just starting to show its power as unlimited selection reveals new truths about what consumers want and how they want to get it.