Social Economics

Noam Chomsky is widely regarded as the most influential thinker of our time, but never before has he devoted a major book to one topic: income inequality. Requiem for the American Dream is not an essay collection but an entire work of some 70,000 words, based on four years of interviews with Chomsky by the editors. It is a book that makes Chomsky's breadth and depth accessible and at the same time gives us his most powerful political ideas with unprecedented, breathtaking directness.

Trade disputes are usually understood as conflicts between countries with competing national interests, but as Matthew C. Klein and Michael Pettis show in this book, they are often the unexpected result of domestic political choices to serve the interests of the rich at the expense of workers and ordinary retirees. Klein and Pettis trace the origins of today's trade wars to decisions made by politicians and business leaders in China, Europe, and the United States over the past 30 years.

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.

This engrossing piece of undercover reportage has been a fixture on the New York Times best seller list since its publication. With nearly a million copies in print, Nickel and Dimed is a modern classic that deftly portrays the plight of America's working-class poor.

In this challenging work, Christopher Lasch makes an accessible critique of what is wrong with the values and beliefs of America's professional and managerial elites. The distinguished historian argues that democracy today is threatened not by the masses, as Jose Ortega y Gasset ( The Revolt of the Masses) had said, but by the elites. These elites - mobile and increasingly global in outlook - refuse to accept limits or ties to nation and place.

In Confessions of a Recovering Engineer, renowned speaker and author of Strong Towns Charles L. Marohn, Jr., delivers an accessible and engaging exploration of America's transportation system, laying bare the reasons why it no longer works as it once did, and how to modernize transportation to better serve local communities.

Capital is the defining feature of modern economies, yet most people have no idea where it actually comes from. What is it, exactly, that transforms mere wealth into an asset that automatically creates more wealth? The Code of Capital explains how capital is created behind closed doors in the offices of private attorneys, and why this little-known fact is one of the biggest reasons for the widening wealth gap between the holders of capital and everybody else.

Exploring the sometimes hilarious, sometimes devastating impact of crowd behavior and trading trickery on the financial markets, this book brilliantly combines two all-time investment classics. Extraordinary Popular Delusions and Confusión de Confusiones take us from Tulipmania in 1634-when tulips actually traded at a higher price than gold - to the South Sea "bubble" of 1720, and beyond. Securities analyst and author Martin Fridson guides you on a quirky, entertaining, and intriguing journey back through time.

The Constitution of Liberty is considered Hayek's classic statement on the ideals of freedom and liberty, ideals that he believes have guided - and must continue to guide - the growth of Western civilization. Here, Hayek defends the principles of a free society, casting a skeptical eye on the growth of the welfare state and examining the challenges to freedom posed by an ever-expanding government.

The top 1 percent of Americans control 40 percent of the nation's wealth. And, as Joseph E. Stiglitz explains, while those at the top enjoy the best health care, education, and benefits of wealth, they fail to realize that "their fate is bound up with how the other 99 percent live." Stiglitz draws on his deep understanding of economics to show that growing inequality is not inevitable. He examines our current state, then teases out its implications for democracy, for monetary and budgetary policy, and for globalization. He closes with a plan for a more just and prosperous future.

With Hope in the Dark, Rebecca Solnit makes a radical case for hope as a commitment to act in a world whose future remains uncertain and unknowable. Drawing on her decades of activism and a wide knowledge of environmental, cultural, and political history, Solnit argues that radicals have a long, neglected history of transformative victories, that the positive consequences of our acts are not always immediately seen, directly knowable, or even measurable.

The American supermarket is an everyday miracle. But what does it take to run one? What are the inner workings of product delivery and distribution? Who sets the price? And who suffers for the convenience and efficiency we’ve come to expect? In this rollicking exposé, author Benjamin Lorr pulls back the curtain on this highly secretive industry.

Following a remarkable epoch of greater dispersion of wealth and opportunity, we are inexorably returning towards a more feudal era marked by greater concentration of wealth and property, reduced upward mobility, demographic stagnation, and increased dogmatism. If the last 70 years saw a massive expansion of the middle class, not only in America but in much of the developed world, today that class is declining and a new, more hierarchical society is emerging. The new class structure resembles that of Medieval times.

In this no-holds-barred treatise, Donald Shoup argues that free parking has contributed to auto dependence, rapid urban sprawl, extravagant energy use, and a host of other problems. Planners mandate free parking to alleviate congestion but end up distorting transportation choices, debasing urban design, damaging the economy, and degrading the environment. Ubiquitous free parking helps explain why our cities sprawl on a scale fit more for cars than for people. But it doesn't have to be this way.

There was no single, dramatic event that set the current financial crisis off. A whole series of very questionable decisions by many people, in many places, over a period of years, built up the pressures that led to a sudden collapse of the housing market and of financial institutions that began to fall like dominoes as a result of investing in securities based on housing prices. This book is designed to unravel the tangled threads of that story.

The more we know about the catastrophic implications of climate change, the more fossil fuels we burn. How did we end up in this mess? In this masterful new history, Andreas Malm claims it all began in Britain with the rise of steam power. But why did manufacturers turn from traditional sources of power, notably water mills, to an engine fired by coal? Contrary to established views, steam offered neither cheaper nor more abundant energy - but rather superior control of subordinate labor.

To modern Western society, capitalism is the air we breathe, and most people rarely think to question it, for good or for ill. But knowing what makes capitalism work - and what makes it fail - is crucial to understanding its long-term health and the vast implications for the global economy that go along with it.

Vividly written, The Infidel and the Professor is a compelling account of a great friendship of two towering Enlightenment thinkers that had great consequences for modern thought. David Hume is widely regarded as the most important philosopher ever to write in English, but during his lifetime, he was attacked as "the Great Infidel" for his skeptical religious views and deemed unfit to teach the young. In contrast, Adam Smith was a revered professor of moral philosophy and is now often hailed as the founding father of capitalism.

Long overshadowed by Japan and China, South Korea is a small country that happens to be one of the great national success stories of the postwar period. From a failed state with no democratic tradition, ruined and partitioned by war, and sapped by a half-century of colonial rule, South Korea transformed itself in just 50 years into an economic powerhouse and a democracy that serves as a model for other countries. With no natural resources and a tradition of authoritarian rule, Korea managed to accomplish a second Asian miracle.

From the sprawling barricadas of Lima to the garbage hills of Manila, urbanization has been disconnected from industrialization, even economic growth. Davis portrays a vast humanity warehoused in shantytowns and exiled from the formal world economy. He argues that the rise of this informal urban proletariat is a wholly original development unforeseen by either classical Marxism or neoliberal theory. Are the great slums, as a terrified Victorian middle class once imagined, volcanoes waiting to erupt?