American Economics

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.

Indigenomics in action—moving beyond Indian Act economics towards Indigenous economic sovereignty. In this groundbreaking new work, Carol Anne Hilton, author of the bestselling Indigenomics, explores the phenomenon of growing Indigenous economic power and sovereignty, achieved despite monumental historic injustices. The Indigenous economy in Canada is on track to exceed $100 billion. Yet full Indigenous participation at the economic table is still fundamentally lacking, due in large part to the inherently colonial and racist policies of the Indian Act.

It used to be that ravaging another country’s economy required blockading its ports and laying siege to its cities. Now all it takes is a statement posted online by the U.S. government. In Chokepoints, Edward Fishman, a former top State Department sanctions official, takes us deep into the back rooms of power to reveal the untold history of the last two decades of U.S. foreign policy, in which America renounced the gospel of globalization and waged a new kind of economic war.

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.

At the end of 2008, Ford Motor Company was just months away from running out of cash. With the auto industry careening toward ruin, Congress offered all three Detroit automakers a bailout. General Motors and Chrysler grabbed the taxpayer lifeline, but Ford decided to save itself. Under the leadership of charismatic CEO Alan Mulally, Ford had already put together a bold plan to unify its divided global operations, transform its lackluster product lineup, and overcome a dys­functional culture of infighting, backstabbing, and excuses.

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.

Race for Profit uncovers how exploitative real estate practices continued well after housing discrimination was banned. The same racist structures and individuals remained intact after redlining's end, and close relationships between regulators and the industry created incentives to ignore improprieties. Meanwhile, new policies meant to encourage low-income homeownership created new methods to exploit Black homeowners.

The neighborhoods we live in impact our lives in so many ways: they determine who we know, what resources and opportunities we have access to, the quality of schools our kids go to, our sense of security and belonging, and even how long we live. Yet too many of us live in neighborhoods plagued by rising crime, school violence, family disintegration, addiction, alienation, and despair. In Fragile Neighborhoods, fragile states expert Seth D. Kaplan offers a bold new vision for addressing social decline in America, one zip code at a time.

Populists on both sides of the political aisle routinely announce that the American Dream is dead. According to them, the game has been rigged by elites, workers can't get ahead, wages have been stagnant for decades, and the middle class is dying. Michael R. Strain, director of economic policy studies at the American Enterprise Institute, disputes this rhetoric as both wrong and dangerous. In this succinctly argued volume, he shows that, on measures of economic opportunity and quality of life, there has never been a better time to be alive in America.

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.

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.

How do you rig an economy? You start with the tax code. In Tax the Rich!, former BlackRock executive Morris Pearl, the millionaire chair of the Patriotic Millionaires, and Erica Payne, the organization's founder, take listeners on an engaging and enlightening insider's tour of the nation's tax code, explaining exactly how "the rich" - and the politicians they control - manipulate the US tax code to ensure the rich get richer, and everyone else is left holding the bag.

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.

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

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.

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.

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.

More than 200 million years ago, geological forces split apart the continents. Isolated from each other, the two halves of the world developed radically different suites of plants and animals. When Christopher Columbus set foot in the Americas, he ended that separation at a stroke. Driven by the economic goal of establishing trade with China, he accidentally set off an ecological convulsion as European vessels carried thousands of species to new homes across the oceans.

Heather McGhee’s specialty is the American economy—and the mystery of why it so often fails the American public. From the financial crisis of 2008 to rising student debt to collapsing public infrastructure, she found a root problem: racism in our politics and policymaking. But not just in the most obvious indignities for people of color. Racism has costs for white people, too. It is the common denominator of our most vexing public problems, the core dysfunction of our democracy and constitutive of the spiritual and moral crises that grip us all.

Before Bill Gross was known among investors as the Bond King, he was a gambler. In 1966, a fresh college grad, he went to Vegas armed with his net worth ($200) and a knack for counting cards. Ten thousand dollars and countless casino bans later, he was hooked, so he enrolled in business school. The Bond King is the story of how that whiz kid made American finance his casino.