New Capitalism

In the second decade of the 21st century, many Americans feel they are subject to economic forces beyond their control. Some critics of today's economy compare it to the rampant inequality of the late 19th century, when robber barons manipulated the economy to their own benefit. Others object to the remedies that were applied in the early 20th century, insisting that markets work best when governed least.

This monumental work of cultural history was nominated for a National Book Award. It chronicles America's transformation, beginning in 1880, into a nation of consumers, devoted to a cult of comfort, bodily well-being, and endless acquisition.

A century ago, migrants often crossed an ocean and never saw their homelands again. Today, they call - or Skype - home the moment their flight has landed, and that's just the beginning. Thanks to cheap travel and easy communication, immigrants everywhere stay in intimate contact with their native countries, creating powerful cross-border networks. In Borderless Economics, Robert Guest, The Economist's business editor, travels through dozens of countries and 44 American states, observing how these networks create wealth, spread ideas and foster innovation.

Today’s entrepreneurs must avoid the temptation to play it safe and launch a business in a bubble. Instead, they need to embrace the idea of “failing fast.” Almost upon genesis of the idea, it is detrimental for the entrepreneur to connect with real customers and determine quickly whether their idea is worth pursuing, needs new direction, or should be abandoned altogether.