State Theory

Chronicling the rise and fall of the efficient market theory and the century-long making of the modern financial industry, Justin Fox’s The Myth of the Rational Market is as much an intellectual whodunit as a cultural history of the perils and possibilities of risk. The book brings to life the people and ideas that forged modern finance and investing, from the formative days of Wall Street through the Great Depression and into the financial calamity of today.

In the early hours of November 9, 2016, one of the most contentious, polarizing, and vicious presidential races came to an abrupt and unexpected end when heavily favored presidential hopeful Hillary Clinton called Donald J. Trump to concede, shocking a nation that had, only hours before, given little credence to his chances. Donald Trump pulled the greatest upset in American political history despite a torrent of invective and dismissal of the mainstream media.

Mississippi, 1955: 14-year-old Emmett Till was murdered by a white mob after making flirtatious remarks to a white woman, Carolyn Bryant. Till's attackers were never convicted, but his lynching became one of the most notorious hate crimes in American history. It launched protests across the country, helped the NAACP gain thousands of members, and inspired famous activists like Rosa Parks to stand up and fight for equal rights for the first time.

The half-century before the Civil War was beset with conflict over equality as well as freedom. Beginning in 1803, many free states, claiming the authority to maintain the domestic peace, enacted laws that discouraged free African Americans from settling their boundaries and restricted the rights to testify in court, move freely from place to place, work, vote, and attend public school. But over time, African American activists and their white allies, often facing mob violence, courageously built a movement to fight these racist laws.

Although the framers gave the president little authority, Washington knew whatever he did would set precedents for generations of his successors. To ensure their ability to defend the nation, he simply ignored the Constitution when he thought it necessary and reshaped the presidency into what James Madison called a "monarchical presidency." Modern scholars call it the "imperial presidency."

In this compelling, behind-the-scenes account, former top CIA officer and Cuba expert Brian Latell examines the extraordinary Castro brothers and the impending dynastic succession of Fidel's younger brother, Raul. Exploring the brothers' remarkable relationship, he reveals how Fidel and Raul have collaborated, divided responsibilities, and resolved disagreements for more than 46 years, a challenge to the notion that the little-known Raul has been an insignificant player.

Like all of us, though few so visibly, Alan Greenspan was forced by the financial crisis of 2008 to question some fundamental assumptions about risk management and economic forecasting. No one with any meaningful role in economic decision making in the world saw beforehand the storm for what it was. How had our models so utterly failed us? To answer this question, Alan Greenspan embarked on a rigorous and far-reaching multiyear examination of how Homo economicus predicts the economic future, and how it can predict it better.

Drawing from the intriguing (and sometimes unbelievable) true stories of the lives of everyday Americans, historian Julie M. Fenster traces the history of the weakening of our national ethics through the practice of cheating. From marital infidelity to financial fraud; rigged sports competitions to corruption in politics and the American education system; nuclear weaponry to beauty pageants; hospitals, TV game shows, and charities; nothing and no one is exempt.

Jon Meacham, in American Lion, has delivered the definitive human portrait of a pivotal president who forever changed the American presidency and America itself. Andrew Jackson, his intimate circle of friends, and his tumultuous times are at the heart of this remarkable book about the man who rose from nothing to create the modern presidency.

Former congressman and current Fox News contributor Jason Chaffetz explains how we ended up with a politicized federal bureaucracy that actively works to promote the Democratic Party's agenda and undermine Donald Trump.

The death of Colonel Muammar Qadhafi freed Libya from 42 years of despotic rule, raising hopes for a new era. But in the aftermath, the country descended into bitter rivalries and civil war, paving the way for the Islamic State and a catastrophic migrant crisis. In a fast-paced narrative that blends frontline reporting, analysis, and history, Frederic Wehrey tells the story of what went wrong.

Olson turns her razor sharp vision on the Clintons' shocking excesses in their final days of office: the outrageous pardons to political cronies and friends; the looting of the White House; the executive orders that were sheer abuses of presidential power; the presidential library that is becoming a massive boondoggle of vanity more appropriate for a Third World dictator; and much more.

We thought we knew the story of the twentieth century. For many in the West, after the two world conflicts and the long cold war, the verdict was clear: democratic values had prevailed over dictatorship. But if the twentieth century meant the triumph of liberalism, as many intellectuals proclaimed, why have the era's darker impulses—ethnic nationalism, racist violence, and populist authoritarianism—revived?

Citizenship in a Republic is the title of a speech delivered by President Theodore Roosevelt, at the Sorbonne in Paris, France on April 23, 1910. It popularized the phrase "The Man in the Arena", as a person who is heavily involved in a situation that requires courage, skill, or tenacity, as opposed to someone sitting on the side-lines and watching: “It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better.

Challenging incarceration and policing was central to the postwar Black Freedom Movement. In this bold new political and intellectual history of the Nation of Islam, Garrett Felber centers the Nation in the Civil Rights Era and the making of the modern carceral state. In doing so, he reveals a multifaceted freedom struggle that focused as much on policing and prisons as on school desegregation and voting rights.

"No more dramatic courtroom scene has ever been enacted," reported the Syracuse Herald on May 22, 1915, as it covered "the greatest libel suit in history", a battle fought between former President Theodore Roosevelt and the leader of the Republican party. Roosevelt, the boisterous and mostly beloved legendary American hero, had accused his former friend and ally, now turned rival, William Barnes of political corruption. The furious Barnes responded by suing Roosevelt for an enormous sum that could have financially devastated him.

In The Icarus Syndrome, Peter Beinart tells a tale as old as the Greeks—a story about the seductions of success. Beinart describes Washington on the eve of three wars—World War I, Vietnam, and Iraq—three moments when American leaders decided they could remake the world in their image. Each time, leading intellectuals declared that history was over, and the spread of democracy was inevitable. Each time, a president held the nation in the palm of his hand.

In Empires of Trust, Professor Thomas F. Madden explores surprising parallels between the Roman and American republics. By making friends of enemies and demonstrating a commitment to fairness, the two republics - both "reluctant" yet unquestioned super-powers - built empires based on trust. Madden also includes vital lessons from the Roman Republic's 100-year struggle with "terrorism."

From the best-selling authors of The Right Nation, a visionary argument that our current crisis in government is nothing less than the fourth radical transition in the history of the nation-state. Dysfunctional government: It' s become a cliché, and most of us are resigned to the fact that nothing is ever going to change. As John Micklethwait and Adrian Wooldridge show us, that is a seriously limited view of things. In fact, there have been three great revolutions in government in the history of the modern world.

This work is a landmark in American political thought. Preeminent Richard Hofstadter examines the passion for progress and reform that colored the entire period from 1890 to 1940 with startling and stimulating results. The Age of Reform searches out the moral and emotional motives of the reformers, the myths and dreams in which they believed, and the realities with which they had to compromise.