Money Theory

Beginning in the 1950s, America entered a period of unprecedented social reform. This remarkable book demonstrates how the social programs of the 1960s and ’70s had the unintended and perverse effect of slowing and even reversing earlier progress in reducing poverty, crime, ignorance, and discrimination. Using widely understood and accepted data, it conclusively demonstrates that the amalgam of reforms from 1965 to 1970 actually made matters worse.

Why is America living in an age of profound economic inequality? Why, despite the desperate need to address climate change, have even modest environmental efforts been defeated again and again? Why have protections for employees been decimated? Why do hedge-fund billionaires pay a far lower tax rate than middle-class workers? The conventional answer is that a popular uprising against "big government" led to the rise of a broad-based conservative movement.

Ludwig von Mises is to economics what Albert Einstein is to physics. Human Action is his greatest work: a systematic study that covers every major topic in the science of economics. It is also one of the most convincing indictments of socialism and statism ever penned. When it first appeared in 1949, it ignited an eruption of critical acclaim.

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There’s a new invisible force at work in our economic and cultural lives. It affects every advertisement we see and every product we buy, from our morning coffee to a new pair of shoes. “Stakeholder capitalism” makes rosy promises of a better, more diverse, environmentally friendly world, but in reality, this ideology, championed by America’s business and political leaders, robs us of our money, our voice, and our identity.

Before and after World War II, a serendipitous confluence of events created a healthy balance between the market and the polity - between the engine of capitalism and the egalitarian ideals of democracy. A global financial system was devised explicitly to allow nations to manage capitalism. Yet this golden era turned out to be lightning in a bottle. From the 1970s on, a power shift occurred, in which financial regulations were rolled back, taxes were cut, inequality worsened, and disheartened voters turned to far-right faux populism. Can democracy find a way to survive?

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Artificial intelligence does the seemingly impossible - driving cars, trading stocks, and teaching children. But facing the sea change that AI will bring can be paralyzing. How should companies set strategies, governments design policies, and people plan their lives for a world so different from what we know? In Prediction Machines, three eminent economists recast the rise of AI as a drop in the cost of prediction. With this single, masterful stroke, they lift the curtain on the AI-is-magic hype and show how basic tools from economics provide clarity about the AI revolution and a basis for action by CEOs, managers, policy makers, investors, and entrepreneurs.

Capitalism as a system has spawned deepening economic crisis alongside its bought-and-paid-for political establishment. Neither serves the needs of our society. Whether it is secure, well-paid, and meaningful jobs or a sustainable relationship with the natural environment that we depend on, our society is not delivering the results people need and deserve.

In this combative, controversial book, Terry Eagleton takes issue with the prejudice that Marxism is dead and done with. Taking 10 of the most common objections to Marxism - that it leads to political tyranny, that it reduces everything to the economic, that it is a form of historical determinism, and so on - he demonstrates in each case what a woeful travesty of Marx's own thought these assumptions are.

Utopia for Realists is one of those rare books that takes you by surprise and challenges what you think can happen. From a Canadian city that once completely eradicated poverty to Richard Nixon's near implementation of a basic income for millions of Americans, Bregman takes us on a journey through history and beyond the traditional left-right divides as he champions ideas whose time has come.

How can we benefit from the promise of government while avoiding the threat it poses to individual freedom? In this classic book, Milton Friedman provides the definitive statement of his immensely influential economic philosophy - one in which competitive capitalism serves as both a device for achieving economic freedom and a necessary condition for political freedom.

Milton Friedman and his wife, Rose, teamed up to write this most convincing and readable guide, which illustrates the crucial link between Adam Smith's capitalism and the free society. They show how freedom has been eroded and prosperity undermined through the rapid growth of governmental agencies, laws, and regulations.

The Making of Modern Economics presents a bold and engaging history of economics—the dramatic story of how the great economic thinkers built today’s rigorous social science. This comprehensive yet accessible introduction to the major economic philosophers begins with Adam Smith and continues through to the present day. It examines the contributions each one made to our understanding of the role of the economist, the science of economics and economic theory.

From the development of international trade fairs in the 12th century to the innovations made in China, India, and the Arab world, it turns out that historical economies were much more sophisticated that we might imagine, tied together by webs of credit and financial instruments much like our modern economy.

Half of all Americans have money in the stock market, yet economists can't agree on whether investors and markets are rational and efficient, as modern financial theory assumes, or irrational and inefficient, as behavioral economists believe - and as financial bubbles, crashes, and crises suggest. This is one of the biggest debates in economics, and the value or futility of investment management and financial regulation hang on the outcome. In this groundbreaking book, Andrew W. Lo cuts through this debate with a new framework.

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.

"The hour of capitalism's greatest triumph," writes Hernando de Soto, "is, in the eyes of four-fifths of humanity, its hour of crisis." In The Mystery of Capital, the world-famous Peruvian economist takes up one of the most pressing questions the world faces today: Why do some countries succeed at capitalism while others fail?

Robots may one day rule the world, but what is a robot-ruled Earth like? Many think the first truly smart robots will be brain emulations, or ems. Scan a human brain, then run a model with the same connections on a fast computer, and you have a robot brain, but recognizably human. Train an em to do some job and copy it a million times; an army of workers is at your disposal. When they can be made cheaply, within perhaps a century, ems will displace humans in most jobs.

Turn ChatGPT into a Cash Machine goes beyond superficial promises by providing you with proven strategies to build a sustainable work-from-home venture. Additionally, this book unlocks the immense potential of ChatGPT and helps you transform your WFM experience into a profitable and fulfilling journey.