Money Finance History

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.

One of the great economists of the 20th century, Milton Friedman has always challenged the prevailing economic orthodoxy. At the same time, his work has become popular because it is engagingly written and because it helps in practical prediction. Thanks to Friedman, money is now regarded as a far more powerful factor than it had been before. It offers the prospect of permanently controlling the inflation that has become the most important economic problem of our age.

In this eye-opening work of economic theory, Jane Jacobs argues that it is cities—not nations—that are the drivers of wealth. Challenging centuries of economic orthodoxy, in Cities and the Wealth of Nations the beloved author contends that healthy cities are constantly evolving to replace imported goods with locally produced alternatives, spurring a cycle of vibrant economic growth. Intelligently argued and drawing on examples from around the world and across the ages, here Jacobs radically changes the way we view our cities—and our entire economy.

The twentieth century was the managerial century in the United States. An organizational transformation, from entrepreneurial to managerial capitalism, brought forth what became a dominant narrative: that administrative coordination by trained professional managers is essential to the efficient running of organizations both public and private. And yet if managerialism was the apotheosis of administrative efficiency, why did both its practice and the accompanying narrative lie in ruins by the end of the century?

The Chinese economy appears destined for failure, the financial bubble forever in peril of popping, the real estate sector doomed to collapse, the factories fated for bankruptcy. Orlik games out what will happen if the bubble that never pops finally does. The magnitude of the shock to China and the world would be tremendous. For those in the West nervously watching China's rise as a geopolitical challenger, the alternative could be even less palatable.

During the twentieth century, Vietnam and Poland were both victims not only of devastating wars, but also of socialist planned economies that destroyed whatever war hadn’t already. In 1990, Vietnam was still one of the poorest countries in the world, while Poland was one of the poorest in Europe. But in the three decades since then, both countries have drastically improved their citizens’ standards of living and escaped the vicious cycle of national poverty.

In this sequel to Gold: The Once and Future Money, Lewis describes in greater depth how actual gold standard systems are created, and how they have been used through history. The pre-1913 world gold standard system was perhaps the greatest monetary system the world has ever seen. The greatest champion of the gold standard system of the 19th century, Britain, was the birthplace of the Industrial Revolution and eventually presided over the largest empire the world had ever seen.

Crack explains why, in a de-industrializing America in which market forces ruled and entrepreneurial risk-taking was celebrated, the crack industry was a lucrative enterprise for the "Horatio Alger boys" of their place and time. These young, predominately African American entrepreneurs were profit-sharing partners in a deviant, criminal form of economic globalization. Hip Hop artists often celebrated their exploits but overwhelmingly, Americans - across racial lines - did not. Crack takes a hard look at the dark side of late 20th-century capitalism.

The American economy is strong in large part because nobody believes that America would ever default on its debt. Yet in 1933, Franklin D. Roosevelt did just that, when in a bid to pull the country out of depression, he depreciated the US dollar in relation to gold, effectively annulling all debt contracts. American Default is the story of this forgotten chapter in America's history.

Building a Resilient Tomorrow does not dwell on overhyped descriptions of apocalyptic climate scenarios, nor does it travel down well-trodden paths surrounding the politics of reducing carbon emissions. Instead, it starts with two central facts: Climate impacts will continue to occur, and we can make changes now to mitigate their effects.

Antitrust enforcement is one of the most pressing issues facing America today - and Amy Klobuchar, the widely respected senior senator from Minnesota, is leading the charge. This fascinating history of the antitrust movement shows us what led to the present moment and offers achievable solutions to prevent monopolies, promote business competition, and encourage innovation.

Over the past two centuries or so, capitalism has undergone profound changes - economic cycles that veer from boom to bust - from which it has always emerged transformed and strengthened. Surveying this turbulent history, Paul Mason's Postcapitalism argues that we are on the brink of a change so big and so profound that this time capitalism itself, the immensely complex system within which entire societies function, will mutate into something wholly new.

In Inside Money, acclaimed historian, commentator, and former financial executive Zachary Karabell offers the first full and frank look inside this institution against the backdrop of American history. Blessed with complete access to the company's archives, as well as a thrilling understanding of the larger forces at play, Karabell has created an X-ray of American power - financial, political, cultural - as it has evolved from the early 1800s to the present.

In this eloquent challenge to the reigning wisdom on globalization, Dani Rodrik reminds us of the importance of the nation-state, arguing forcefully that when the social arrangements of democracies inevitably clash with the international demands of globalization, national priorities should take precedence. Combining history with insight, humor with good-natured critique, Rodrik’s case for a customizable globalization supported by a light frame of international rules shows the way to a balanced prosperity as we confront today’s global challenges in trade, finance, and labor markets.

The English East India Company was the mother of the modern multinational. Its trading empire encircled the globe, importing Asian luxuries such as spices, textiles, and teas. But it also conquered much of India with its private army and broke open China's markets with opium. The Company's practices shocked its contemporaries and still reverberate today.

Branko Milanovic presents a bold new account of the dynamics that drive inequality on a global scale. Drawing on vast data sets and cutting-edge research, he explains the benign and malign forces that make inequality rise and fall within and among nations. He also reveals who has been helped the most by globalization, who has been held back, and what policies might tilt the balance toward economic justice.

While millions face hunger, malnutrition, and starvation, the world's population is increasing by over 225,000 people per day, 80 million per year. In many countries, supplies of food and water are inadequate to support the population, so the world falls deeper and deeper into what economists call the "Malthusian trap". Here, Malthus examines the tendency of human numbers to outstrip their resources, and argues that poverty, disease, and starvation are necessary to keep societies from moving beyond their means of subsistence.

It used to be that to diagnose an illness, interpret legal documents, analyze foreign policy, or write a newspaper article you needed a human being with specific skills - and maybe an advanced degree or two. These days, high-level tasks are increasingly being handled by algorithms that can do precise work not only with speed but also with nuance. These "bots" started with human programming and logic, but now their reach extends beyond what their creators ever expected.

It was Adam Smith (1723 - 1790) who first established economics as a separate branch of knowledge, and many would say his work has never been surpassed. The Wealth of Nations, which appeared in 1776, is the definitive text for all who believe that economic decisions are best left to markets, not governments. At the heart of Smith’s doctrine is an optimistic view of the effects of self-interest.

Everyone knows "what's wrong with millennials". Glenn Beck says we've been ruined by "participation trophies". Simon Sinek says we have low self-esteem. An Australian millionaire says millennials could all afford homes if we'd just give up avocado toast. Thanks, millionaire. This millennial is here to prove them all wrong.