These are selected books from my medium-sized and consistently growing library that I can recommend full-heartedly. Each title has an expandable section with a short content summary.
Shortlist
Why has human history unfolded so differently across the globe?
In his Pulitzer Prize-winning book, Jared Diamond puts the case that geography and biogeography, not race, moulded the contrasting fates of Europeans, Asians, Native Americans, sub-Saharan Africans, and aboriginal Australians.
An ambitious synthesis of history, biology, ecology and linguistics, Guns, Germs and Steel remains a ground-breaking and humane work of popular science.
The bestselling author of The Secretary tells the gripping story of the real roots of the Sunni-Shia conflict in Middle East, in the 1979 Iran Revolution that changed the region forever.
Black Wave is a paradigm-shifting recasting of the modern history of the Middle East, telling the largely unexplored story of the rivalry between Sunni Saudi Arabia and Shia Iran--a rivalry born out of the sparks of the 1979 Iranian revolution--that has dramatically transformed the culture, identity and collective memory of millions of Muslims over four decades. Like George Packer did in The Unwinding, Ghattas follows everyday citizens whose lives have been affected by the geopolitical drama, making her account both immediate and intimate.
Most Americans assume that extremism, Sunni-Shia antagonism, and anti-Americanism have always existed in the Middle East, but prior to 1979, Saudi Arabia and Iran were working allies. It was only after that year - a remarkable turning point - that Shia Iran and Sunni Saudi Arabia began to use religion as a tool in their competition for dominance in the region, igniting the culture wars that led to the 1991 American invasion of Iraq, the September 11th terrorist attacks, and the rise of ISIS.
An accessible introduction to the science of evolutionary psychology and how it explains many aspects of human nature.
Unlike many books on the topic,which focus on abstractions like kin selection, this book focuses on Darwinian explanations of why we are the way we are--emotionally and morally. Wright deals particularly well with explaining the reasons for the stereotypical dynamics of the three big "S's:" sex, siblings, and society.
In The Origins of Political Order, Francis Fukuyama took us from the dawn of mankind to the French and American Revolutions. Here, he picks up the thread again in the second instalment of his definitive account of mankind's emergence as a political animal.
This is the story of how state, law and democracy developed after these cataclysmic events, how the modern landscape - with its uneasy tension between dictatorships and liberal democracies - evolved and how in the United States and in other developed democracies, unmistakable signs of decay have emerged. If we want to understand the political systems that dominate and order our lives, we must first address their origins - in our own recent past as well as in the earliest systems of human government.
Fukuyama argues that the key to successful government can be reduced to three key elements: a strong state, the rule of law and institutions of democratic accountability. This magisterial account is required reading for anyone wishing to know more about mankind's greatest achievements.
Thomas Pikettys bestselling Capital in the Twenty-First Century galvanized global debate about inequality. In this audacious follow-up, Piketty challenges us to revolutionize how we think about politics, ideology, and history. He exposes the ideas that have sustained inequality for the past millennium, reveals why the shallow politics of right and left are failing us today, and outlines the structure of a fairer economic system.
Our economy, Piketty observes, is not a natural fact. Markets, profits, and capital are all historical constructs that depend on choices. Piketty explores the material and ideological interactions of conflicting social groups that have given us slavery, serfdom, colonialism, communism, and hypercapitalism, shaping the lives of billions. He concludes that the great driver of human progress over the centuries has been the struggle for equality and education and not, as often argued, the assertion of property rights or the pursuit of stability. The new era of extreme inequality that has derailed that progress since the 1980s, he shows, is partly a reaction against communism, but it is also the fruit of ignorance, intellectual specialization, and our drift toward the dead-end politics of identity.
Once we understand this, we can begin to envision a more balanced approach to economics and politics. Piketty argues for a new participatory socialism, a system founded on an ideology of equality, social property, education, and the sharing of knowledge and power. Capital and Ideology is destined to be one of the indispensable books of our time, a work that will not only help us understand the world, but that will change it.
The Talmud says: “If someone comes to kill you, rise up and kill him first.” This instinct to take every measure, even the most aggressive, to defend the Jewish people is hardwired into Israel’s DNA. From the very beginning of its statehood in 1948, protecting the nation from harm has been the responsibility of its intelligence community and armed services, and there is one weapon in their vast arsenal that they have relied upon to thwart the most serious threats: Targeted assassinations have been used countless times, on enemies large and small, sometimes in response to attacks against the Israeli people and sometimes preemptively.
Bergman has gained the exceedingly rare cooperation of many current and former members of the Israeli government, including Prime Ministers Shimon Peres, Ehud Barak, Ariel Sharon, and Benjamin Netanyahu, as well as high-level figures in the country’s military and intelligence services: the IDF (Israel Defense Forces), the Mossad (the world’s most feared intelligence agency), Caesarea (a “Mossad within the Mossad” that carries out attacks on the highest-value targets), and the Shin Bet (an internal security service that implemented the largest targeted assassination campaign ever, in order to stop what had once appeared to be unstoppable: suicide terrorism).
Including never-before-reported, behind-the-curtain accounts of key operations, and based on hundreds of on-the-record interviews and thousands of files to which Bergman has gotten exclusive access over his decades of reporting, Rise and Kill First brings us deep into the heart of Israel’s most secret activities. Bergman traces, from statehood to the present, the gripping events and thorny ethical questions underlying Israel’s targeted killing campaign, which has shaped the Israeli nation, the Middle East, and the entire world.
Currently in Bill Gates's bookbag and FT Books of 2018 Increasingly, the demands of identity direct the world's politics. Nation, religion, sect, race, ethnicity, gender: these categories have overtaken broader, inclusive ideas of who we are. We have built walls rather than bridges. The result: increasing in anti-immigrant sentiment, rioting on college campuses, and the return of open white supremacy to our politics.
In 2014, Francis Fukuyama wrote that American and global institutions were in a state of decay, as the state was captured by powerful interest groups. Two years later, his predictions were borne out by the rise to power of a series of political outsiders whose economic nationalism and authoritarian tendencies threatens to destabilise the entire international order.
These populist nationalists seek direct charismatic connection to 'the people', who are usually defined in narrow identity terms that offer an irresistible call to an in-group and exclude large parts of the population as a whole.
Identity is an urgent and necessary book: a sharp warning that unless we forge a universal understanding of human dignity, we will doom ourselves to continual conflict.
Economic History
Niall Ferguson follows the money to tell the human story behind the evolution of our financial system, from its genesis in ancient Mesopotamia to the latest upheavals on what he calls Planet Finance.
What's more, Ferguson reveals financial history as the essential backstory behind all history, arguing that the evolution of credit and debt was as important as any technological innovation in the rise of civilization.
As Ferguson traces the crisis from ancient Egypt's Memphis to today's Chongqing, he offers bold and compelling new insights into the rise--and fall--of not just money but Western power as well.
In September 2008 the Great Financial Crisis, triggered by the collapse of Lehman brothers, shook the world. A decade later its spectre still haunts us. As the appalling scope and scale of the crash was revealed, the financial institutions that had symbolised the West's triumph since the end of the Cold War, seemed - through greed, malice and incompetence - to be about to bring the entire system to its knees.
Crashed is a brilliantly original and assured analysis of what happened and how we were rescued from something even worse - but at a price which continues to undermine democracy across Europe and the United States. Gnawing away at our institutions are the many billions of dollars which were conjured up to prevent complete collapse. Over and over again, the end of the crisis has been announced, but it continues to hound us - whether in Greece or Ukraine, whether through Brexit or Trump. Adam Tooze follows the trail like no previous writer and has written a book compelling as history, as economic analysis and as political horror story.
The Great Deformation is a searing look at Washington's craven response to the recent myriad of financial crises and fiscal cliffs. It counters conventional wisdom with an eighty-year revisionist history of how the American state—especially the Federal Reserve—has fallen prey to the politics of crony capitalism and the ideologies of fiscal stimulus, monetary central planning, and financial bailouts. These forces have left the public sector teetering on the edge of political dysfunction and fiscal collapse and have caused America's private enterprise foundation to morph into a speculative casino that swindles the masses and enriches the few.
Defying right- and left-wing boxes, David Stockman provides a catalogue of corrupters and defenders of sound money, fiscal rectitude, and free markets. The former includes Franklin Roosevelt, who fathered crony capitalism; Richard Nixon, who destroyed national financial discipline and the Bretton Woods gold-backed dollar; Fed chairmen Greenspan and Bernanke, who fostered our present scourge of bubble finance and addiction to debt and speculation; George W. Bush, who repudiated fiscal rectitude and ballooned the warfare state via senseless wars; and Barack Obama, who revived failed Keynesian “borrow and spend” policies that have driven the national debt to perilous heights. By contrast, the book also traces a parade of statesmen who championed balanced budgets and financial market discipline including Carter Glass, Harry Truman, Dwight Eisenhower, Bill Simon, Paul Volcker, Bill Clinton, and Sheila Bair.
Stockman's analysis skewers Keynesian spenders and GOP tax-cutters alike, showing how they converged to bloat the welfare state, perpetuate the military-industrial complex, and deplete the revenue base—even as the Fed's massive money printing allowed politicians to enjoy “deficits without tears.” But these policies have also fueled new financial bubbles and favored Wall Street with cheap money and rigged stock and bond markets, while crushing Main Street savers and punishing family budgets with soaring food and energy costs. The Great Deformation explains how we got here and why these warped, crony capitalist policies are an epochal threat to free market prosperity and American political democracy.
The Great Divergence brings new insight to one of the classic questions of history: Why did sustained industrial growth begin in Northwest Europe, despite surprising similarities between advanced areas of Europe and East Asia? As Ken Pomeranz shows, as recently as 1750, parallels between these two parts of the world were very high in life expectancy, consumption, product and factor markets, and the strategies of households. Perhaps most surprisingly, Pomeranz demonstrates that the Chinese and Japanese cores were no worse off ecologically than Western Europe. Core areas throughout the eighteenth-century Old World faced comparable local shortages of land-intensive products, shortages that were only partly resolved by trade.
Pomeranz argues that Europe's nineteenth-century divergence from the Old World owes much to the fortunate location of coal, which substituted for timber. This made Europe's failure to use its land intensively much less of a problem, while allowing growth in energy-intensive industries. Another crucial difference that he notes has to do with trade. Fortuitous global conjunctures made the Americas a greater source of needed primary products for Europe than any Asian periphery. This allowed Northwest Europe to grow dramatically in population, specialize further in manufactures, and remove labor from the land, using increased imports rather than maximizing yields. Together, coal and the New World allowed Europe to grow along resource-intensive, labor-saving paths.
Meanwhile, Asia hit a cul-de-sac. Although the East Asian hinterlands boomed after 1750, both in population and in manufacturing, this growth prevented these peripheral regions from exporting vital resources to the cloth-producing Yangzi Delta. As a result, growth in the core of East Asia's economy essentially stopped, and what growth did exist was forced along labor-intensive, resource-saving paths--paths Europe could have been forced down, too, had it not been for favorable resource stocks from underground and overseas.
The World That Trade Created brings to life the history of trade and its actors. In a series of brief, highly readable vignettes, filled with insights and amazing facts about things we tend to take for granted, the authors uncover the deep historical roots of economic globalization.
Covering over seven hundred years of history, this book, now in its fourth edition, takes the reader around the world from the history of the opium trade to pirates, to the building of corporations and migration to the New World. The chapters are grouped thematically, each featuring an introductory essay designed to synthesize and elaborate on key themes, both familiar and unfamiliar. It includes ten new essays, on topics ranging from the early modern ivory and slave trades across the Indian Ocean, to the ways in which the availability of new consumer goods helped change work habits in both Europe and East Asia, and from the history of chewing gum to that of rare earth metals. The introductory essays for each chapter, the overall introduction and epilogue, and several of the essays have also been revised and updated.
Was the tragedy of the Second World War determined by Nazi Germany's terrifying power, or by its fatal weakness?
This gripping and universally-acclaimed new history tells the real story of the cost of Hitler's plans for world domination - and will overturn everything you thought you knew about the Third Reich.
"One of the most important and original books to be published about the Third Reich in the past twenty years. A tour de force." -Niall Ferguson
Why has human history unfolded so differently across the globe?
In his Pulitzer Prize-winning book, Jared Diamond puts the case that geography and biogeography, not race, moulded the contrasting fates of Europeans, Asians, Native Americans, sub-Saharan Africans, and aboriginal Australians.
An ambitious synthesis of history, biology, ecology and linguistics, Guns, Germs and Steel remains a ground-breaking and humane work of popular science.
In the middle of the eighteenth century, British entrepreneurs unleashed the astounding energies of steam and coal and the world changed forever. Factories, railways and gunboats then propelled the West's rise to power, and computers and nuclear weapons in the twentieth century secured its global supremacy. How long will the power of the Western Democracy last?
In order to find out we need to know: why has the West been so dominant for the past two hundred years?
With flair and authority, historian and achaeologist Ian Morris draws uniquely on 15,000 years of history to offer fresh insights on what the future will bring. Deeply researched and brilliantly argued, Why The West Rules - For Now is a gripping and truly original history of Western Democracy.
Manias, Panics, and Crashes, Fifth Edition is an engaging and entertaining account of the way that mismanagement of money and credit has led to financial explosions over the centuries.
Covering such topics as the history and anatomy of crises, speculative manias, and the lender of last resort, this book puts the turbulence of the financial world in perspective. The updated fifth edition expands upon each chapter, and includes two new chapters focusing on significant financial crises of the last fifteen years.
The current financial crisis has only one parallel: the Wall Street Crash of 1929 and subsequent Great Depression of the 1930s, which crippled the future of an entire generation and set the stage for the horrors of the Second World War. Yet the economic meltdown could have been avoided, had it not been for the decisions taken by a small number of central bankers.
In Lords of Finance, we meet these men, the four bankers who truly broke the world: the enigmatic Norman Montaguof the bank of England, Benjamin Strong of the NY Federal Reserve, the arrogant yet brilliant Hjalmar Schacht of the Reichsbanlk and the xenophobic Emile Moreau of the Banque de France. Their names were lost to history, their lives and actions forgotten, until now. Liaquat Ahamed tells their story in vivid and gripping detail, in a timely and arresting reminder that individuals - their ambitions, limitations and human nature - lie at the very heart of global catastrophe.
In Putin’s People, the investigative journalist and former Moscow correspondent Catherine Belton reveals the untold story of how Vladimir Putin and the small group of KGB men surrounding him rose to power and looted their country. Delving deep into the workings of Putin’s Kremlin, Belton accesses key inside players to reveal how Putin replaced the freewheeling tycoons of the Yeltsin era with a new generation of loyal oligarchs, who in turn subverted Russia’s economy and legal system and extended the Kremlin's reach into the United States and Europe. The result is a chilling and revelatory exposé of the KGB’s revanche―a story that begins in the murk of the Soviet collapse, when networks of operatives were able to siphon billions of dollars out of state enterprises and move their spoils into the West. Putin and his allies subsequently completed the agenda, reasserting Russian power while taking control of the economy for themselves, suppressing independent voices, and launching covert influence operations abroad.
Ranging from Moscow and London to Switzerland and Brooklyn’s Brighton Beach―and assembling a colorful cast of characters to match―Putin’s People is the definitive account of how hopes for the new Russia went astray, with stark consequences for its inhabitants and, increasingly, the world.
The raging question in the world today is who is the real Vladimir Putin and what are his intentions. Karen Dawisha’s brilliant Putin’s Kleptocracy provides an answer, describing how Putin got to power, the cabal he brought with him, the billions they have looted, and his plan to restore the Greater Russia.
Russian scholar Dawisha describes and exposes the origins of Putin’s kleptocratic regime. She presents extensive new evidence about the Putin circle’s use of public positions for personal gain even before Putin became president in 2000. She documents the establishment of Bank Rossiya, now sanctioned by the US; the rise of the Ozero cooperative, founded by Putin and others who are now subject to visa bans and asset freezes; the links between Putin, Petromed, and “Putin’s Palace” near Sochi; and the role of security officials from Putin’s KGB days in Leningrad and Dresden, many of whom have maintained their contacts with Russian organized crime.
Putin’s Kleptocracy is the result of years of research into the KGB and the various Russian crime syndicates. Dawisha’s sources include Stasi archives; Russian insiders; investigative journalists in the US, Britain, Germany, Finland, France, and Italy; and Western officials who served in Moscow. Russian journalists wrote part of this story when the Russian media was still free. “Many of them died for this story, and their work has largely been scrubbed from the Internet, and even from Russian libraries,” Dawisha says. “But some of that work remains.”
History
In 1967, Bashir Al-Khayri, a Palestinian twenty-five-year-old, journeyed to Israel, with the goal of seeing the beloved old stone house, with the lemon tree behind it, that he and his family had fled nineteen years earlier. To his surprise, when he found the house he was greeted by Dalia Ashkenazi Landau, a nineteen-year-old Israeli college student, whose family fled Europe for Israel following the Holocaust.
On the stoop of their shared home, Dalia and Bashir began a rare friendship, forged in the aftermath of war and tested over the next thirty-five years in ways that neither could imagine on that summer day in 1967. Based on extensive research, and springing from his enormously resonant documentary that aired on NPR's Fresh Air in 1998, Sandy Tolan brings the Israeli-Palestinian conflict down to its most human level, suggesting that even amid the bleakest political realities there exist stories of hope and reconciliation.
Between the Mediterranean and the Jordan River, dreams and ideals collide with the reality of violent nationalist struggle, and God's name is invoked in defense of the jealousies of men.
With the experienced journalist's eye for irony, anecdote, and telling detail, Anton La Guardia offers an intimate look into the Israelis as they come to terms with the "post-Zionist" demolition of national myths, and the Palestinians as they try to build their own state.
In 1683, an Ottoman army that stretched from horizon to horizon set out to seize the “Golden Apple,” as Turks referred to Vienna. The ensuing siege pitted battle-hardened Janissaries wielding seventeenth-century grenades against Habsburg armies, widely feared for their savagery. The walls of Vienna bristled with guns as the besieging Ottoman host launched bombs, fired cannons, and showered the populace with arrows during the battle for Christianity's bulwark. Each side was sustained by the hatred of its age-old enemy, certain that victory would be won by the grace of God.
The Great Siege of Vienna is the centerpiece for historian Andrew Wheatcroft's richly drawn portrait of the centuries-long rivalry between the Ottoman and Habsburg empires for control of the European continent. A gripping work by a master historian, The Enemy at the Gate offers a timely examination of an epic clash of civilizations.
The Talmud says: “If someone comes to kill you, rise up and kill him first.” This instinct to take every measure, even the most aggressive, to defend the Jewish people is hardwired into Israel’s DNA. From the very beginning of its statehood in 1948, protecting the nation from harm has been the responsibility of its intelligence community and armed services, and there is one weapon in their vast arsenal that they have relied upon to thwart the most serious threats: Targeted assassinations have been used countless times, on enemies large and small, sometimes in response to attacks against the Israeli people and sometimes preemptively.
Bergman has gained the exceedingly rare cooperation of many current and former members of the Israeli government, including Prime Ministers Shimon Peres, Ehud Barak, Ariel Sharon, and Benjamin Netanyahu, as well as high-level figures in the country’s military and intelligence services: the IDF (Israel Defense Forces), the Mossad (the world’s most feared intelligence agency), Caesarea (a “Mossad within the Mossad” that carries out attacks on the highest-value targets), and the Shin Bet (an internal security service that implemented the largest targeted assassination campaign ever, in order to stop what had once appeared to be unstoppable: suicide terrorism).
Including never-before-reported, behind-the-curtain accounts of key operations, and based on hundreds of on-the-record interviews and thousands of files to which Bergman has gotten exclusive access over his decades of reporting, Rise and Kill First brings us deep into the heart of Israel’s most secret activities. Bergman traces, from statehood to the present, the gripping events and thorny ethical questions underlying Israel’s targeted killing campaign, which has shaped the Israeli nation, the Middle East, and the entire world.
Similar to 'Wild Swans', it tells the story of a family in Georgia (Eastern Europe) spanning six generations. It uses the family history as a backdrop for the monumental changes that happened in Georgia in the 20th century. An interesting element is the infamous hot chocolate that introduces a mysterious undertone to the story. It was a great read on the beaches of Tioman, Malaysia for me and kept me thinking for a long time.
The evolution of the Arab empire is one of the supreme narratives of ancient history, a story dazzlingly rich in drama, character, and achievement. In this exciting and sweeping history—the third in his trilogy of books on the ancient world—Holland describes how the Arabs emerged to carve out a stupefyingly vast dominion in a matter of decades, overcoming seemingly insuperable odds to create an imperial civilization aspects of which endure to the present day. With profound bearing on the most consequential events of our time, Holland ties the exciting story of Islam’s ascent to the crises and controversies of the present.
Through a stellar cast of politicians, diplomats, spies and soldiers - including T.E. Lawrence, Winston Churchill and Charles de Gaulle - 'A Line in the Sand' tells the story of the short but crucial era when Britain and France ruled the Middle East.
The bestselling author of The Secretary tells the gripping story of the real roots of the Sunni-Shia conflict in Middle East, in the 1979 Iran Revolution that changed the region forever.
Black Wave is a paradigm-shifting recasting of the modern history of the Middle East, telling the largely unexplored story of the rivalry between Sunni Saudi Arabia and Shia Iran--a rivalry born out of the sparks of the 1979 Iranian revolution--that has dramatically transformed the culture, identity and collective memory of millions of Muslims over four decades. Like George Packer did in The Unwinding, Ghattas follows everyday citizens whose lives have been affected by the geopolitical drama, making her account both immediate and intimate.
Most Americans assume that extremism, Sunni-Shia antagonism, and anti-Americanism have always existed in the Middle East, but prior to 1979, Saudi Arabia and Iran were working allies. It was only after that year - a remarkable turning point - that Shia Iran and Sunni Saudi Arabia began to use religion as a tool in their competition for dominance in the region, igniting the culture wars that led to the 1991 American invasion of Iraq, the September 11th terrorist attacks, and the rise of ISIS.
Political Economy
The modern world is built on commodities - from the oil that fuels our cars to the metals that power our smartphones. We rarely stop to consider where they have come from. But we should.
In The World for Sale, two leading journalists lift the lid on one of the least scrutinised corners of the world economy: the workings of the billionaire commodity traders who buy, hoard and sell the earth's resources.
It is the story of how a handful of swashbuckling businessmen became indispensable cogs in global markets: enabling an enormous expansion in international trade, and connecting resource-rich countries - no matter how corrupt or war-torn - with the world's financial centres. And it is the story of how some traders acquired untold political power, right under the noses of western regulators and politicians - helping Saddam Hussein to sell his oil, fuelling the Libyan rebel army during the Arab Spring, and funnelling cash to Vladimir Putin's Kremlin in spite of western sanctions.
The result is an eye-opening tour through the wildest frontiers of the global economy, as well as a revelatory guide to how capitalism really works.
The book applies insights from institutional economics, development economics and economic history to understand why nations develop differently, with some succeeding in the accumulation of power and prosperity and others failing, via a wide range of historical case studies.
Raghuram Rajan, distinguished University of Chicago professor, former IMF chief economist, head of India's central bank, and author of the 2010 FT-Goldman-Sachs Book of the Year Fault Lines, has an unparalleled vantage point onto the social and economic consequences of globalization and their ultimate effect on our politics. In The Third Pillar he offers up a magnificent big-picture framework for understanding how these three forces--the state, markets, and our communities--interact, why things begin to break down, and how we can find our way back to a more secure and stable plane.
The "third pillar" of the title is the community we live in. Economists all too often understand their field as the relationship between markets and the state, and they leave squishy social issues for other people. That's not just myopic, Rajan argues; it's dangerous. All economics is actually socioeconomics - all markets are embedded in a web of human relations, values and norms. As he shows, throughout history, technological phase shifts have ripped the market out of those old webs and led to violent backlashes, and to what we now call populism. Eventually, a new equilibrium is reached, but it can be ugly and messy, especially if done wrong.
Right now, we're doing it wrong. As markets scale up, the state scales up with it, concentrating economic and political power in flourishing central hubs and leaving the periphery to decompose, figuratively and even literally. Instead, Rajan offers a way to rethink the relationship between the market and civil society and argues for a return to strengthening and empowering local communities as an antidote to growing despair and unrest. Rajan is not a doctrinaire conservative, so his ultimate argument that decision-making has to be devolved to the grass roots or our democracy will continue to wither, is sure to be provocative. But even setting aside its solutions, The Third Pillar is a masterpiece of explication, a book that will be a classic of its kind for its offering of a wise, authoritative and humane explanation of the forces that have wrought such a sea change in our lives.
Over 6.4 billion people participate in a $36.5 trillion global economy, designed and overseen by no one. How did this marvel of self-organized complexity evolve? How is wealth created within this system? And how can wealth be increased for the benefit of individuals, businesses, and society?
In The Origin of Wealth, Eric D. Beinhocker argues that modern science provides a radical perspective on these age-old questions, with far-reaching implications. According to Beinhocker, wealth creation is the product of a simple but profoundly powerful evolutionary formula: differentiate, select, and amplify. In this view, the economy is a "complex adaptive system" in which physical technologies, social technologies, and business designs continuously interact to create novel products, new ideas, and increasing wealth. Taking readers on an entertaining journey through economic history, from the Stone Age to modern economy, Beinhocker explores how "complexity economics" provides provocative insights on issues ranging from creating adaptive organizations to the evolutionary workings of stock markets to new perspectives on government policies. A landmark book that shatters conventional economic theory, The Origin of Wealth will rewire our thinking about how we came to be here--and where we are going.
Thomas Piketty's Capital in the 21st Century is arguably the most important popular economics book in recent memory. It will take its place among other classics in the field that have survived changing theoretical and political fashions, such as its namesake by Karl Marx (Das Kapital, 1867) or other ambitiously titled books such as John Maynard Keynes's The General Theory of Employment, Interest, and Money (1936). Anyone who wants to engage in an informed discussion about the economic landscape will have to read Piketty.-- (01/01/2015)
Thomas Pikettys bestselling Capital in the Twenty-First Century galvanized global debate about inequality. In this audacious follow-up, Piketty challenges us to revolutionize how we think about politics, ideology, and history. He exposes the ideas that have sustained inequality for the past millennium, reveals why the shallow politics of right and left are failing us today, and outlines the structure of a fairer economic system.
Our economy, Piketty observes, is not a natural fact. Markets, profits, and capital are all historical constructs that depend on choices. Piketty explores the material and ideological interactions of conflicting social groups that have given us slavery, serfdom, colonialism, communism, and hypercapitalism, shaping the lives of billions. He concludes that the great driver of human progress over the centuries has been the struggle for equality and education and not, as often argued, the assertion of property rights or the pursuit of stability. The new era of extreme inequality that has derailed that progress since the 1980s, he shows, is partly a reaction against communism, but it is also the fruit of ignorance, intellectual specialization, and our drift toward the dead-end politics of identity.
Once we understand this, we can begin to envision a more balanced approach to economics and politics. Piketty argues for a new participatory socialism, a system founded on an ideology of equality, social property, education, and the sharing of knowledge and power. Capital and Ideology is destined to be one of the indispensable books of our time, a work that will not only help us understand the world, but that will change it.
Government interventions in media markets are often criticized for preventing audiences from getting the media products they want. A free press is often asserted to be essential for democracy. The first point is incorrect and the second is inadequate as a policy guide. Part I of this book shows that unique aspects of media products prevent markets from providing for audience desires. Part II shows that four prominent, but different, theories of democracy lead to different conceptions of good journalistic practice, media policy, and proper constitutional principles. Part II makes clear that the choice among democratic theories is crucial for understanding what should be meant by free press. Part III explores international free trade in media products. Contrary to the dominant American position, it shows that Parts I and II's economic and democratic theory justify deviations from free trade in media products.
Society & Politics
Currently in Bill Gates's bookbag and FT Books of 2018 Increasingly, the demands of identity direct the world's politics. Nation, religion, sect, race, ethnicity, gender: these categories have overtaken broader, inclusive ideas of who we are. We have built walls rather than bridges. The result: increasing in anti-immigrant sentiment, rioting on college campuses, and the return of open white supremacy to our politics.
In 2014, Francis Fukuyama wrote that American and global institutions were in a state of decay, as the state was captured by powerful interest groups. Two years later, his predictions were borne out by the rise to power of a series of political outsiders whose economic nationalism and authoritarian tendencies threatens to destabilise the entire international order.
These populist nationalists seek direct charismatic connection to 'the people', who are usually defined in narrow identity terms that offer an irresistible call to an in-group and exclude large parts of the population as a whole.
Identity is an urgent and necessary book: a sharp warning that unless we forge a universal understanding of human dignity, we will doom ourselves to continual conflict.
In his bestselling The End of History and the Last Man, Francis Fukuyama argued that the end of the Cold War would also mean the beginning of a struggle for position in the rapidly emerging order of 21st-century capitalism. In Trust, a penetrating assessment of the emerging global economic order "after History," he explains the social principles of economic life and tells us what we need to know to win the coming struggle for world dominance.
Challenging orthodoxies of both the left and right, Fukuyama examines a wide range of national cultures in order to divine the underlying principles that foster social and economic prosperity. Insisting that we cannot divorce economic life from cultural life, he contends that in an era when social capital may be as important as physical capital, only those societies with a high degree of social trust will be able to create the flexible, large-scale business organizations that are needed to compete in the new global economy.
A brilliant study of the interconnectedness of economic life with cultural life, Trust is also an essential antidote to the increasing drift of American culture into extreme forms of individualism, which, if unchecked, will have dire consequences for the nation's economic health.
In The Origins of Political Order, Francis Fukuyama took us from the dawn of mankind to the French and American Revolutions. Here, he picks up the thread again in the second instalment of his definitive account of mankind's emergence as a political animal.
This is the story of how state, law and democracy developed after these cataclysmic events, how the modern landscape - with its uneasy tension between dictatorships and liberal democracies - evolved and how in the United States and in other developed democracies, unmistakable signs of decay have emerged. If we want to understand the political systems that dominate and order our lives, we must first address their origins - in our own recent past as well as in the earliest systems of human government.
Fukuyama argues that the key to successful government can be reduced to three key elements: a strong state, the rule of law and institutions of democratic accountability. This magisterial account is required reading for anyone wishing to know more about mankind's greatest achievements.
Virtually all human societies were once organized tribally, yet over time most developed new political institutions that included a central state that could keep the peace and uniform laws that applied to all citizens. Some went on to create governments that were accountable to their constituents. We take these institutions for granted, but they are absent or unable to function in many of today’s developing countries—with often disastrous consequences for the rest of the world.
Francis Fukuyama, author of the best-selling The End of History and The Last Man, and one of our most important political thinkers, provides a sweeping account of how today’s basic political institutions developed. The first of a major two-volume work, The Origins of Political Order begins with politics among our primate ancestors and follows the story through the emergence of tribal societies, the growth of the first modern state in China, the beginning of the rule of law in India and the Middle East, and the development of political accountability in Europe up until the eve of the French Revolution.
Drawing on a vast body of knowledge—history, evolutionary biology, archaeology, and economics—Fukuyama has produced a brilliant, provocative work that offers fresh insights on the origins of democratic societies and raises essential questions about the nature of politics and its discontents.
On the influence of extreme libertarians how they came to influence the public opinion through a variety of 'philantrophic' foundations like 'Americans for Prosperity' or the 'American Legislative Exchange Council'. The 'Citizen United' verdict played an important role in allowing deep pocketed corporations increase the lobbying via Super-PACS.
Humans are tribal. We need to belong to groups. In many parts of the world, the group identities that matter most – the ones that people will kill and die for – are ethnic, religious, sectarian, or clan-based. But because America tends to see the world in terms of nation-states engaged in great ideological battles – Capitalism vs. Communism, Democracy vs. Authoritarianism, the “Free World” vs. the “Axis of Evil” – we are often spectacularly blind to the power of tribal politics. Time and again this blindness has undermined American foreign policy.
In the Vietnam War, viewing the conflict through Cold War blinders, we never saw that most of Vietnam’s “capitalists” were members of the hated Chinese minority. Every pro-free-market move we made helped turn the Vietnamese people against us. In Iraq, we were stunningly dismissive of the hatred between that country’s Sunnis and Shias. If we want to get our foreign policy right – so as to not be perpetually caught off guard and fighting unwinnable wars – the United States has to come to grips with political tribalism abroad.
Just as Washington’s foreign policy establishment has been blind to the power of tribal politics outside the country, so too have American political elites been oblivious to the group identities that matter most to ordinary Americans – and that are tearing the United States apart. As the stunning rise of Donald Trump laid bare, identity politics have seized both the American left and right in an especially dangerous, racially inflected way. In America today, every group feels threatened: whites and blacks, Latinos and Asians, men and women, liberals and conservatives, and so on. There is a pervasive sense of collective persecution and discrimination. On the left, this has given rise to increasingly radical and exclusionary rhetoric of privilege and cultural appropriation. On the right, it has fueled a disturbing rise in xenophobia and white nationalism.
'Start-Up Nation' addresses the trillion dollar question: How is it that Israel - a country of 7.1 million, only 60 years old, surrounded by enemies, in a constant state of war since its founding, with no natural resources - produces more start-up companies than large, peaceful, and stable nations like Japan, China, India, Korea, Canada and the UK?
With the savvy of foreign policy insiders, Senor and Singer examine the lessons of the country's adversity-driven culture, which flattens hierarchy and elevates informality-- all backed up by government policies focused on innovation. In a world where economies as diverse as Ireland, Singapore and Dubai have tried to re-create the "Israel effect", there are entrepreneurial lessons well worth noting. As America reboots its own economy and can-do spirit, there's never been a better time to look at this remarkable and resilient nation for some impressive, surprising clues.
Is social media destroying democracy? Are Russian propaganda or "Fake news" entrepreneurs on Facebook undermining our sense of a shared reality? A conventional wisdom has emerged since the election of Donald Trump in 2016 that new technologies and their manipulation by foreign actors played a decisive role in his victory and are responsible for the sense of a "post-truth" moment in which disinformation and propaganda thrives.
Network Propaganda challenges that received wisdom through the most comprehensive study yet published on media coverage of American presidential politics from the start of the election cycle in April 2015 to the one year anniversary of the Trump presidency. Analysing millions of news stories together with Twitter and Facebook shares, broadcast television and YouTube, the book provides a comprehensive overview of the architecture of contemporary American political communications. Through data analysis and detailed qualitative case studies of coverage of immigration, Clinton scandals, and the Trump Russia investigation, the book finds that the right-wing media ecosystem operates fundamentally differently than the rest of the media environment.
The authors argue that longstanding institutional, political, and cultural patterns in American politics interacted with technological change since the 1970s to create a propaganda feedback loop in American conservative media. This dynamic has marginalized centre-right media and politicians, radicalized the right wing ecosystem, and rendered it susceptible to propaganda efforts, foreign and domestic. For readers outside the United States, the book offers a new perspective and methods for diagnosing the sources of, and potential solutions for, the perceived global crisis of democratic politics.
Attention merchant: an industrial-scale harvester of human attention. A firm whose business model is the mass capture of attention for resale to advertisers. In nearly every moment of our waking lives, we face a barrage of advertising enticements, branding efforts, sponsored social media, commercials and other efforts to harvest our attention. Over the last century, few times or spaces have remained uncultivated by the 'attention merchants', contributing to the distracted, unfocused tenor of our times. Tim Wu argues that this is not simply the byproduct of recent inventions but the end result of more than a century's growth and expansion in the industries that feed on human attention. From the pre-Madison Avenue birth of advertising to TV's golden age to our present age of radically individualized choices, the business model of 'attention merchants' has always been the same. He describes the revolts that have risen against these relentless attempts to influence our consumption, from the remote control to FDA regulations to Apple's ad-blocking OS. But he makes clear that attention merchants grow ever-new heads, and their means of harvesting our attention have given rise to the defining industries of our time, changing our nature - cognitive, social, and otherwise - in ways unimaginable even a generation ago.
The challenges to humanity posed by the digital future, the first detailed examination of the unprecedented form of power called "surveillance capitalism," and the quest by powerful corporations to predict and control us. The heady optimism of the Internet's early days is gone. Technologies that were meant to liberate us have deepened inequality and stoked divisions. Tech companies gather our information online and sell it to the highest bidder, whether government or retailer. Profits now depend not only on predicting our behaviour but modifying it too. How will this fusion of capitalism and the digital shape our values and define our future?
Shoshana Zuboff shows that we are at a crossroads. We still have the power to decide what kind of world we want to live in, and what we decide now will shape the rest of the century. Our choices: allow technology to enrich the few and impoverish the many, or harness it and distribute its benefits.
The Age of Surveillance Capitalism is a deeply-reasoned examination of the threat of unprecedented power free from democratic oversight. As it explores this new capitalism's impact on society, politics, business, and technology, it exposes the struggles that will decide both the next chapter of capitalism and the meaning of information civilization. Most critically, it shows how we can protect ourselves and our communities and ensure we are the masters of the digital rather than its slaves.
We all have a vague sense that social media is bad for our minds, for our children, and for our democracies. But the truth is that its reach and impact run far deeper than we have understood. Building on years of international reporting, Max Fisher tells the gripping and galling inside story of how Facebook, Twitter, YouTube, and other social network preyed on psychological frailties to create the algorithms that drive everyday users to extreme opinions and, increasingly, extreme actions. As Fisher demonstrates, the companies' founding tenets, combined with a blinkered focus on maximizing engagement, have led to a destabilized world for everyone.
Traversing the planet, Fisher tracks the ubiquity of hate speech and its spillover into violence, ills that first festered in far-off locales, to their dark culmination in America during the pandemic, the 2020 election, and the Capitol Insurrection. Through it all, the social-media giants refused to intervene in any meaningful way, claiming to champion free speech when in fact what they most prized were limitless profits. The result, as Fisher shows, is a cultural shift toward a world in which people are polarized not by beliefs based on facts, but by misinformation, outrage, and fear.
His narrative is about more than the villains, however. Fisher also weaves together the stories of the heroic outsiders and Silicon Valley defectors who raised the alarm and revealed what was happening behind the closed doors of Big Tech. Both panoramic and intimate, The Chaos Machine is the definitive account of the meteoric rise and troubled legacy of the tech titans, as well as a rousing and hopeful call to arrest the havoc wreaked on our minds and our world before it's too late.
The most sweeping account of how neoliberalism came to dominate American politics for nearly a half century before crashing against the forces of Trumpism on the right and a new progressivism on the left. The epochal shift toward neoliberalism-a web of related policies that, broadly speaking, reduced the footprint of government in society and reassigned economic power to private market forces-that began in the United States and Great Britain in the late 1970s fundamentally changed the world. Today, the word "neoliberal" is often used to condemn a broad swath of policies, from prizing free market principles over people to advancing privatization programs in developing nations around the world.
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. As he shows, the neoliberal order that emerged in America in the 1970sfused ideas of deregulation with personal freedoms, open borders with cosmopolitanism, and globalization with the promise of increased prosperity for all.
Along with tracing how this worldview emerged in America and grew to dominate the world, Gerstle explores the previously unrecognized extent to which itstriumph was facilitated by the collapse of the Soviet Union and its communist allies. He is also the first to chart the story of the neoliberal order's fall, originating in the failed reconstruction of Iraq and Great Recession of the Bush years and culminating in the rise of Trump and a reinvigorated Bernie Sanders-led American left in the 2010s. An indispensable and sweeping re-interpretation of the last fifty years, this book illuminates how the ideology of neoliberalism became so infused in the daily life of an era, while probing what remains of that ideology and its political programs as America enters an uncertain future.
Finance
Wealthy, powerful, and potentially dangerous, hedge fund moguls have become the It Boys of twenty-first- century capitalism. Beating the market was long thought to be impossible, but hedge funds cracked its mysteries and made fortunes in the process.
Drawing on his unprecedented access to the industry, esteemed financial writer Sebastian Mallaby tells the inside story of the hedge funds, from their origins in the 1960s to their role in the financial crisis of 2007 to 2009.
In March of 2006, four of the world’s richest men sipped champagne in an opulent New York hotel. They were preparing to compete in a poker tournament with million-dollar stakes, but those numbers meant nothing to them. They were accustomed to risking billions.
On that night, these four men and their cohorts were the new kings of Wall Street. Muller, Griffin, Asness, and Weinstein were among the best and brightest of a new breed, the quants. Over the prior twenty years, this species of math whiz--technocrats who make billions not with gut calls or fundamental analysis but with formulas and high-speed computers--had usurped the testosterone-fueled, kill-or-be-killed risk-takers who’d long been the alpha males the world’s largest casino. The quants helped create a digitized money-trading machine that could shift billions around the globe with the click of a mouse. Few realized, though, that in creating this unprecedented machine, men like Muller, Griffin, Asness and Weinstein had sowed the seeds for history’s greatest financial disaster.
Drawing on unprecedented access to these four number-crunching titans, The Quants tells the inside story of what they thought and felt in the days and weeks when they helplessly watched much of their net worth vaporize--and wondered just how their mind-bending formulas and genius-level IQ’s had led them so wrong, so fast.
The book expands on The Quants to show how the rise algorithmic trading, artificial intelligence bots, and high-frequency trading have rigged the current stock market. Patterson also discusses how governmental agencies, like the SEC, cannot keep up with the rapid evolution of technology
Picking up where Liar's Poker left off (literally, in the bond dealer's desks of Salomon Brothers) the story of Long-Term Capital Management is of a group of elite investors who believed they could beat the market and, like alchemists, create limitless wealth for themselves and their partners.
Founded by John Meriweather, a notoriously confident bond dealer, along with two Nobel prize winners and a floor of Wall Street's brightest and best, Long-Term Captial Management was from the beginning hailed as a new gold standard in investing. It was to be the hedge fund to end all other hedge funds: a discreet private investment club limited to those rich enough to pony up millions. It became the banks' own favourite fund and from its inception achieved a run of dizzyingly spectacular returns. New investors barged each other aside to get their investment money into LTCM's hands.
But as competitors began to mimic Meriweather's fund, he altered strategy to maintain the fund's performance, leveraging capital with credit on a scale not fully understood and never seen before.
When the markets in Indonesia, South America and Russia crashed in 1998 LCTM's investments crashed with them and mountainous debts accumulated. The fund was in melt-down, and threatening to bring down into its trillion-dollar black hole a host of financial instiutions from New York to Switzerland. It's a tale of vivid characters, overwheening ambition, and perilous drama told, in Roger Lowenstein's hands, with brilliant style and panache.
The story of the 2008 financial crisis began in bizarre feeder markets where the sun doesn't shine and the SEC doesn't dare, or bother, to tread: the bond and real estate derivative markets where geeks invent impenetrable securities to profit from the misery of lower- and middle-class Americans who can't pay their debts.
The smart people who understood what was or might be happening were paralyzed by hope and fear; in any case, they weren't talking.
Jim Simons is the greatest money maker in modern financial history. No other investor--Warren Buffett, Peter Lynch, Ray Dalio, Steve Cohen, or George Soros--can touch his record. Since 1988, Renaissance's signature Medallion fund has generated average annual returns of 66 percent. The firm has earned profits of more than $100 billion; Simons is worth twenty-three billion dollars.
Drawing on unprecedented access to Simons and dozens of current and former employees, Zuckerman, a veteran Wall Street Journal investigative reporter, tells the gripping story of how a world-class mathematician and former code breaker mastered the market. Simons pioneered a data-driven, algorithmic approach that's sweeping the world.
As Renaissance became a market force, its executives began influencing the world beyond finance. Simons became a major figure in scientific research, education, and liberal politics. Senior executive Robert Mercer is more responsible than anyone else for the Trump presidency, placing Steve Bannon in the campaign and funding Trump's victorious 2016 effort. Mercer also impacted the campaign behind Brexit.
The Man Who Solved the Market is a portrait of a modern-day Midas who remade markets in his own image, but failed to anticipate how his success would impact his firm and his country. It's also a story of what Simons's revolution means for the rest of us.
Globalized Finance & Secrecy Jurisdiction
From the Cayman Islands and the Isle of Man to the Principality of Liechtenstein and the state of Delaware, tax havens offer lower tax rates, less stringent regulations and enforcement, and promises of strict secrecy to individuals and corporations alike. In recent years government regulators, hoping to remedy economic crisis by diverting capital from hidden channels back into taxable view, have undertaken sustained and serious efforts to force tax havens into compliance.
In Tax Havens, Ronen Palan, Richard Murphy, and Christian Chavagneux provide an up-to-date evaluation of the role and function of tax havens in the global financial system-their history, inner workings, impact, extent, and enforcement. They make clear that while, individually, tax havens may appear insignificant, together they have a major impact on the global economy. Holding up to $13 trillion of personal wealth—the equivalent of the annual U.S. Gross National Product—and serving as the legal home of two million corporate entities and half of all international lending banks, tax havens also skew the distribution of globalization's costs and benefits to the detriment of developing economies.
The first comprehensive account of these entities, this book challenges much of the conventional wisdom about tax havens. The authors reveal that, rather than operating at the margins of the world economy, tax havens are integral to it. More than simple conduits for tax avoidance and evasion, tax havens actually belong to the broad world of finance, to the business of managing the monetary resources of individuals, organizations, and countries. They have become among the most powerful instruments of globalization, one of the principal causes of global financial instability, and one of the large political issues of our times.
A thrilling ride inside the world of tax havens and corporate masterminds.
While the United States experiences recession and economic stagnation and European countries face bankruptcy, experts struggle to make sense of the crisis. Nicholas Shaxson, a former correspondent for the Financial Times and The Economist, argues that tax havens are a central cause of all these disasters.
In this hard hitting investigation he uncovers how offshore tax evasion, which has cost the U.S. 100 billion dollars in lost revenue each year, is just one item on a long rap sheet outlining the damage that offshoring wreaks on our societies. In a riveting journey from Moscow to London to Switzerland to Delaware, Shaxson dives deep into a vast and secret playground where bankers and multinational corporations operate side by side with nefarious tax evaders, organized criminals and the world's wealthiest citizens. Tax havens are where all these players get to maximize their own rewards and leave the middle class to pick up the bill.
The Suez Crisis of 1956 was Britain's 20th-century nadir, the moment when the once superpower was bullied into retreat. In the immortal words of former US Secretary of State Dean Acheson, 'Britain has lost an empire and not yet found a role.' But the funny thing was, Britain had already found a role. It even had the costume. The leaders of the world just hadn't noticed it yet.
Butler to the World reveals how the UK took up its position at the elbow of the worst people on Earth: the oligarchs, kleptocrats and gangsters. We pride ourselves on values of fair play and the rule of law, but few countries do more to frustrate global anticorruption efforts. We are now a nation of Jeeveses, snobbish enablers for rich halfwits of considerably less charm than Bertie Wooster. It doesn't have to be that way.
2019: democracy is eating itself, inequality is skyrocketing, the system is breaking apart. Why?
Because in 1962, some bankers in London had an idea that changed the world. That idea was called 'offshore'. It meant that, for the first time, thieves could dream big. They could take everything.
Join investigative journalist Oliver Bullough on a journey into the hidden world of the new global kleptocrats. See the poor countries where public money is stolen and the rich ones where it is laundered and invested. Watch the crooks at work and at play, and meet their respectable, white-collar enablers. Learn how the new system works and begin to see how we can tackle it.
How do the ultra-rich keep getting richer, despite taxes on income, capital gains, property, and inheritance?
Capital Without Borders tackles this tantalizing question through a groundbreaking multi-year investigation of the men and women who specialize in protecting the fortunes of the world's richest people. Brooke Harrington followed the money to the 18 most popular tax havens in the world, interviewing wealth managers to understand how they help their high-net-worth clients dodge taxes, creditors, and disgruntled heirs - all while staying just within the letter of the law.
She even trained to become a wealth manager herself in her quest to penetrate the fascinating, shadowy world of the guardians of the one percent.
The trade in oil, gas, gems, metals and rare earth minerals wreaks havoc in Africa. During the years when Brazil, India, China and the other "emerging markets" have transformed their economies, Africa's resource states remained tethered to the bottom of the industrial supply chain. While Africa accounts for about 30 per cent of the world's reserves of hydrocarbons and minerals and 14 per cent of the world's population, its share of global manufacturing stood in 2011 exactly where it stood in 2000: at 1 percent.
In his first book, The Looting Machine, Tom Burgis exposes the truth about the African development miracle: for the resource states, it's a mirage. The oil, copper, diamonds, gold and coltan deposits attract a global network of traders, bankers, corporate extractors and investors who combine with venal political cabals to loot the states' value. And the vagaries of resource-dependent economies could pitch Africa's new middle class back into destitution just as quickly as they climbed out of it. The ground beneath their feet is as precarious as a Congolese mine shaft; their prosperity could spill away like crude from a busted pipeline.
This catastrophic social disintegration is not merely a continuation of Africa's past as a colonial victim. The looting now is accelerating as never before. As global demand for Africa's resources rises, a handful of Africans are becoming legitimately rich but the vast majority, like the continent as a whole, is being fleeced. Outsiders tend to think of Africa as a great drain of philanthropy. But look more closely at the resource industry and the relationship between Africa and the rest of the world looks rather different. In 2010, fuel and mineral exports from Africa were worth 333 billion, more than seven times the value of the aid that went in the opposite direction. But who received the money? For every Frenchwoman who dies in childbirth, 100 die in Niger alone, the former French colony whose uranium fuels France's nuclear reactors. In petro-states like Angola three-quarters of government revenue comes from oil. The government is not funded by the people, and as result it is not beholden to them. A score of African countries whose economies depend on resources are rentier states; their people are largely serfs. The resource curse is not merely some unfortunate economic phenomenon, the product of an intangible force. What is happening in Africa's resource states is systematic looting. Like its victims, its beneficiaries have names.
Authoritarian regimes in many countries, and the men that lead them, depend on the international management of licit and illicit funds under their control. Frank Vogl shows that curbing their activities for their kleptocratic clients is critical to secure democracy, enhance national security, and ensure international financial stability.
We are well aware of the rise of the 1% as the rapid growth of economic inequality has put the majority of the world’s wealth in the pockets of fewer and fewer. One much-discussed solution to this imbalance is to significantly increase the rate at which we tax the wealthy. But with an enormous amount of the world’s wealth hidden in tax havens—in countries like Switzerland, Luxembourg, and the Cayman Islands—this wealth cannot be fully accounted for and taxed fairly. No one, from economists to bankers to politicians, has been able to quantify exactly how much of the world’s assets are currently hidden—until now. Gabriel Zucman is the first economist to offer reliable insight into the actual extent of the world’s money held in tax havens. And it’s staggering.
In The Hidden Wealth of Nations, Zucman offers an inventive and sophisticated approach to quantifying how big the problem is, how tax havens work and are organized, and how we can begin to approach a solution. His research reveals that tax havens are a quickly growing danger to the world economy. In the past five years, the amount of wealth in tax havens has increased over 25%—there has never been as much money held offshore as there is today. This hidden wealth accounts for at least $7.6 trillion, equivalent to 8% of the global financial assets of households. Fighting the notion that any attempts to vanquish tax havens are futile, since some countries will always offer more advantageous tax rates than others, as well the counter-argument that since the financial crisis tax havens have disappeared, Zucman shows how both sides are actually very wrong. In The Hidden Wealth of Nations he offers an ambitious agenda for reform, focused on ways in which countries can change the incentives of tax havens. Only by first understanding the enormity of the secret wealth can we begin to estimate the kind of actions that would force tax havens to give up their practices.
Zucman’s work has quickly become the gold standard for quantifying the amount of the world’s assets held in havens. In this concise book, he lays out in approachable language how the international banking system works and the dangerous extent to which the large-scale evasion of taxes is undermining the global market as a whole. If we are to find a way to solve the problem of increasing inequality, The Hidden Wealth of Nations is essential reading.
Psychology & Evolution
Why is there more chance we'll believe something if it's in a bold type face? Why are judges more likely to deny parole before lunch? Why do we assume a good-looking person will be more competent?
The answer lies in the two ways we make choices: fast, intuitive thinking, and slow, rational thinking.
This book reveals how our minds are tripped up by error and prejudice (even when we think we are being logical), and gives you practical techniques for slower, smarter thinking. It will enable to you make better decisions at work, at home, and in everything you do.
Every day we make decisions: about the things that we buy or the meals we eat; about the investments we make or our children's health and education; even the causes that we champion or the planet itself.
Unfortunately, we often choose poorly. We are all susceptible to biases that can lead us to make bad decisions that make us poorer, less healthy and less happy. And, as Thaler and Sunstein show, no choice is ever presented to us in a neutral way.
The Blank Slate: The Modern Denial of Human Nature is a best-selling 2002 book by Steven Pinker, in which the author makes a case against tabula rasa models in the social sciences, arguing that human behavior is substantially shaped by evolutionary psychological adaptations.
The book was nominated for the 2003 Aventis Prizes and was a finalist for the Pulitzer Prize.
An accessible introduction to the science of evolutionary psychology and how it explains many aspects of human nature.
Unlike many books on the topic,which focus on abstractions like kin selection, this book focuses on Darwinian explanations of why we are the way we are--emotionally and morally. Wright deals particularly well with explaining the reasons for the stereotypical dynamics of the three big "S's:" sex, siblings, and society.
As influential today as when it was first published, The Selfish Gene has become a classic exposition of evolutionary thought. Professor Dawkins articulates a gene's eye view of evolution - a view giving centre stage to these persistent units of information, and in which organisms can be seen as vehicles for their replication.
This imaginative, powerful, and stylistically brilliant work not only brought the insights of Neo-Darwinism to a wide audience, but galvanized the biology community, generating much debate and stimulating whole new areas of research. Forty years later, its insights remain as relevant today as on the day it was published.
Something has been going wrong on many college campuses in the last few years. Speakers are shouted down. Students and professors say they are walking on eggshells and are afraid to speak honestly. Rates of anxiety, depression, and suicide are rising—on campus as well as nationally. How did this happen?
First Amendment expert Greg Lukianoff and social psychologist Jonathan Haidt show how the new problems on campus have their origins in three terrible ideas that have become increasingly woven into American childhood and education: What doesn’t kill you makes you weaker; always trust your feelings; and life is a battle between good people and evil people. These three Great Untruths contradict basic psychological principles about well-being and ancient wisdom from many cultures. Embracing these untruths—and the resulting culture of safetyism—interferes with young people’s social, emotional, and intellectual development. It makes it harder for them to become autonomous adults who are able to navigate the bumpy road of life.
Lukianoff and Haidt investigate the many social trends that have intersected to promote the spread of these untruths. They explore changes in childhood such as the rise of fearful parenting, the decline of unsupervised, child-directed play, and the new world of social media that has engulfed teenagers in the last decade. They examine changes on campus, including the corporatization of universities and the emergence of new ideas about identity and justice. They situate the conflicts on campus within the context of America’s rapidly rising political polarization and dysfunction.This is a book for anyone who is confused by what is happening on college campuses today, or has children, or is concerned about the growing inability of Americans to live, work, and cooperate across party lines.
China
Zhu Xiao-Mei was born to middle-class parents in post-war China, and her musical proficiency became clear at an early age. Taught to play the piano by her mother, she developed quickly into a prodigy, immersing herself in the work of classical masters like Bach and Brahms. She was just ten years old when she began a rigorous course of study at the Beijing Conservatory, laying the groundwork for what was sure to be an extraordinary career. But in 1966, when Xiao-Mei was seventeen, the Cultural Revolution began, and life as she knew it changed forever. One by one, her family members were scattered, sentenced to prison or labor camps.
By 1969, the art schools had closed, and Xiao-Mei was on her way to a work camp in Mongolia, where she would spend the next five years. Life in the camp was nearly unbearable, thanks to horrific living conditions and intensive brainwashing campaigns. Yet through it all Xiao-Mei clung to her passion for music and her sense of humor.
And when the Revolution ended, it was the piano that helped her to heal. Heartbreaking and heartwarming, The Secret Piano is the incredible true story of one woman’s survival in the face of unbelievable odds—and in pursuit of a powerful dream.
The Corpse Walker introduces us to regular men and women at the bottom of Chinese society, most of whom have been battered by life but have managed to retain their dignity: a professional mourner, a human trafficker, a public toilet manager, a leper, a grave robber, and a Falung Gong practitioner, among others.
By asking challenging questions with respect and empathy, Liao Yiwu managed to get his subjects to talk openly and sometimes hilariously about their lives, desires, and vulnerabilities, creating a book that is an instance par excellence of what was once upon a time called “The New Journalism.”
The Corpse Walker reveals a fascinating aspect of modern China, describing the lives of normal Chinese citizens in ways that constantly provoke and surprise.
Blending the intimacy of memoir and the panoramic sweep of eyewitness history, Wild Swans has become a bestselling classic in thirty languages, with more than ten million copies sold.
The story of three generations of women in twentieth-century China, Wild Swans is an engrossing record of Mao's impact on China, an unusual window on the female experience in the modern world, and an inspiring tale of courage and love.
Chang captures in gripping, moving—and ultimately uplifting—detail the cycles of violent drama visited on her family and millions of others caught in the whirlwind of history.
In this sweeping and insightful history, Henry Kissinger turns for the first time at book length to a country he has known intimately for decades and whose modern relations with the West he helped shape.
On China illuminates the inner workings of Chinese diplomacy during such pivotal events as the initial encounters between China and tight line modern European powers, the formation and breakdown of the Sino-Soviet alliance, the Korean War, and Richard Nixon’s historic trip to Beijing.
With a new final chapter on the emerging superpower’s twenty-first-century role in global politics and economics, On China provides historical perspective on Chinese foreign affairs from one of the premier statesmen of our time.
Various
Tiziano Terzani hat als langjähriger Korrespondent des SPIEGEL unser Bild von Asien mit geprägt. Das damals noch unzugängliche China kannte er wie kaum ein anderer westlicher Journalist, im asiatischen Denken war er seit langem zu Hause.
Als nach längerer Krebserkrankung sein Tod naht, lädt der 65-jährige Terzani seinen Sohn Folco zu sich ein, um Abschied zu nehmen. In einem langen Zwiegespräch erzählt der Vater dem Sohn von seinem bewegten Leben zwischen Europa und Asien und von der Auseinandersetzung mit Krankheit und dem Sterben. Es entspinnt sich ein berührender Dialog über das Leben und die Begegnung mit dem Tod, über Abschied, Trauer und Verlust, aber auch über Hoffnung und Wiederkehr.
In a retrospective review published in The Guardian in 2012, Salman Rushdie argues that "the real story ... is that of a man destroyed by the ideas upon which he has built his life". In Rushdie's view, Stevens's obsession with dignified restraint has cost him loving relationships.
In this deeply moving memoir, Vance tells the story of his family’s demons and of America ’ s problem with generational neglect. How his mother struggled against, but never fully escaped, the legacies of abuse, alcoholism, poverty and trauma. How his grandparents, ‘dirt poor and in love’, gave everything for their children to chase the American dream. How Vance beat the odds to graduate from Yale Law School. And how America came to abandon and then condescend to its white working classes, until they reached breaking point.
In 'The Namesake', Lahiri enriches the themes that made her collection an international bestseller: the immigrant experience, the clash of cultures, the conflicts of assimilation, and, most poignantly, the tangled ties between generations. 'The Namesake' takes the Ganguli family from their tradition-bound life in Calcutta through their fraught transformation into Americans.
On the heels of their arranged wedding, Ashoke and Ashima Ganguli settle together in Cambridge, Massachusetts. An engineer by training, Ashoke adapts far less warily than his wife, who resists all things American and pines for her family.
When their son is born, the task of naming him betrays the vexed results of bringing old ways to the new world. Named for a Russian writer by his Indian parents in memory of a catastrophe years before, Gogol Ganguli knows only that he suffers the burden of his heritage as well as his odd, antic name.
Lahiri brings great empathy to Gogol as he stumbles along the first-generation path, strewn with conflicting loyalties, comic detours, and wrenching love affairs. With penetrating insight, she reveals not only the defining power of the names and expectations bestowed upon us by our parents, but also the means by which we slowly, sometimes painfully, come to define ourselves.
The story unfolds at fictional Dupont University: those Olympian halls of scholarship housing the cream of America's youth, the roseate Gothic spires and manicured lawns suffused with tradition . . . Or so it appears to beautiful, brilliant Charlotte Simmons, a sheltered freshman from North Carolina. But Charlotte soon learns, to her mounting dismay, that for the upper-crust coeds of Dupont, sex, cool, and kegs trump academic achievement every time.
As Charlotte encounters the paragons of Dupont's privileged elite--her roommate, Beverly, a Groton-educated Brahmin in lusty pursuit of lacrosse players; Jojo Johanssen, the only white starting player on Dupont's godlike basketball team, whose position is threatened by a hotshot black freshman from the projects; the Young Turk of Saint Ray fraternity, Hoyt Thorpe, whose heady sense of entitlement and social domination is clinched by his accidental brawl with a bodyguard for the governor of California; and Adam Geller, one of the Millennial Mutants who run the university's "independent" newspaper and who consider themselves the last bastion of intellectual endeavor on the sex-crazed, jock-obsessed campus--she is seduced by the heady glamour of acceptance, betraying both her values and upbringing before she grasps the power of being different--and the exotic allure of her own innocence.
Simon Singh offers the first sweeping history of encryption, tracing its evolution and revealing the dramatic effects codes have had on wars, nations, and individual lives. From Mary, Queen of Scots, trapped by her own code, to the Navajo Code Talkers who helped the Allies win World War II, to the incredible (and incredibly simple) logisitical breakthrough that made Internet commerce secure, The Code Book tells the story of the most powerful intellectual weapon ever known: secrecy.
Throughout the text are clear technical and mathematical explanations, and portraits of the remarkable personalities who wrote and broke the world's most difficult codes. Accessible, compelling, and remarkably far-reaching, this book will forever alter your view of history and what drives it. It will also make you wonder how private that e-mail you just sent really is.