American Economic History

Abhijit Banerjee and Esther Duflo have pioneered the use of randomized control trials in development economics. Work based on these principles, supervised by the Poverty Action Lab, is being carried out in dozens of countries. Drawing on this and their 15 years of research from Chile to India, Kenya to Indonesia, they have identified wholly new aspects of the behavior of poor people, their needs, and the way that aid or financial investment can affect their lives. Their work defies certain presumptions: that microfinance is a cure-all, that schooling equals learning....

During the most dizzying days of the financial crisis, Washington Mutual, a bank with hundreds of billions of dollars in its coffers, suffered a crippling bank run. The story of its final, brutal collapse in the autumn of 2008, and its controversial sale to JPMorgan Chase, is an astonishing account of how one bank lost itself to greed and mismanagement, and how the entire financial industry - and even the entire country - lost its way as well. Kirsten Grind’s The Lost Bank is a magisterial and gripping account of these events.

Basic Economics has been written with the thought that learning economics should be not only a relaxed experience but also an enjoyable one.

Throughout time, from ancient Rome to modern Britain, the great empires built and maintained their domination through force of arms and political power. But not the United States. America has dominated the world in a new, peaceful, and pervasive way - through the continued creation of staggering wealth. In this authoritative, engrossing history, John Steele Gordon captures as never before the true source of our nation's global influence: wealth and the capacity to create more of it.

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 The Secret History of the American Empire, Perkins zeroes in on hot spots around the world and, drawing on interviews with other hit men, jackals, reporters, and activists, examines the current geopolitical crisis. Instability is the norm; it's clear that the world we've created is dangerous and no longer sustainable. How did we get here? Who's responsible? What good have we done and at what cost? And what can we do to change things for the next generations?

VC tells the riveting story of how the industry arose from the United States' long-running orientation toward entrepreneurship. Venture capital has been driven from the start by the pull of outsized returns through a skewed distribution of payoffs - a faith in low-probability but substantial financial rewards that rarely materialize. Whether the gamble is a whaling voyage setting sail from New Bedford or the newest startup in Silicon Valley, VC is not just a model of finance that has proven difficult to replicate in other countries.

John Harvey Kellogg was one of America's most beloved physicians; a best-selling author, lecturer, and health-magazine publisher; founder of the Battle Creek Sanitarium; and patron saint of the pursuit of wellness. His youngest brother, Will, was the founder of the Battle Creek Toasted Corn Flake Company. In The Kelloggs, Howard Markel tells the sweeping saga of these two extraordinary men, whose lifelong competition and enmity toward one another changed America's notion of health and wellness and who helped change the course of American medicine, nutrition, wellness, and diet.

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

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.

The previous edition of this now-classic book revealed the existence and subversive manipulations of "economic hit men". John Perkins wrote that economic hit men (EHM) "are highly paid professionals who cheat countries around the globe out of trillions of dollars. Their tools include fraudulent financial reports, rigged elections, payoffs, extortion, sex, and murder".

The definitive volume on Enron's amazing rise and scandalous fall, from an award-winning team of Fortune investigative reporters.

From the days of the Mayflower and the Virginia Company, America has been a place for people to dream, invent, build, tinker, and bet the farm in pursuit of a better life. Americana takes us on a 400-year journey of this spirit of innovation and ambition through a series of Next Big Things - the inventions, techniques, and industries that drove American history forward: from the telegraph, the railroad, guns, radio, and banking, to flight, suburbia, and sneakers, culminating with the Internet and mobile technology at the turn of the 21st century.

If you asked most people what forces led to today’s unprecedented income inequality and financial crashes, no one would say the Federal Reserve. For most of its history, the Fed has enjoyed the fawning adoration of the press. When the economy grew, it was credited to the Fed. When the economy imploded in 2008, the Fed got credit for rescuing us.

During the 19th century, the United States entered the ranks of the world's most advanced and dynamic economies. At the same time, the nation sustained an expansive and brutal system of human bondage. This was no mere coincidence. Slavery's Capitalism argues for slavery's centrality to the emergence of American capitalism in the decades between the Revolution and the Civil War.

From Benjamin Franklin to Dave Ramsey, a lot of what “everyone knows” about money has changed dramatically over the past 250 years. In fact, much of the advice we take for granted today has not always been true, and strategies that we think are new have been tried—and failed—more than once. In some eras, parents taught their children not to save, and for many years, it was common knowledge that stocks were for suckers. Still, other so-called antiquated notions are not as outdated as we think.

In the century after the Civil War, an economic revolution improved the American standard of living in ways previously unimaginable. Electric lighting, indoor plumbing, home appliances, motor vehicles, air travel, air conditioning, and television transformed households and workplaces. With medical advances, life expectancy between 1870 and 1970 grew from 45 to 72 years. The Rise and Fall of American Growth provides an in-depth account of this momentous era.

Economic Facts and Fallacies is designed for people who want to understand economic issues without getting bogged down in economic jargon, graphs, or political rhetoric. Writing in a lively manner that does not require any prior knowledge of economics, Thomas Sowell exposes some of the most popular fallacies about economic issues, including many that are widely disseminated in the media and by politicians.

The richest people in the world use inflation investing to protect and grow their wealth during times of currency devaluation. While the average person sees inflation as a financial burden, the smart investor knows how to take advantage of inflation to build generational wealth. Whether you're a seasoned investor or just getting started, this book will show you how to make inflation work in your favor. Inflation Investing is your guide to making money and protecting yourself from economic disaster. Harness the power of inflation and never lose money to inflation ever again.

The Great Recession, institutional dysfunction, a growing divide between urban and rural prospects, and failed efforts to effectively address immigration have paved the way for a populist backlash that disrupts the postwar bargain between political elites and citizens. Whether today's populism represents a corrective to unfair and obsolete policies or a threat to liberal democracy remains up for debate. To respond to today's crisis, good leaders must strive for inclusive economic growth while addressing social and cultural issues, including demographic anxiety, with frank attention.