Social Economics

Why are cellphone plans so much more expensive in the United States than in Europe? It seems a simple question. But the search for an answer took Thomas Philippon on an unexpected journey through some of the most complex and hotly debated issues in modern economics. Ultimately, he reached a surprising conclusion: American markets, once a model for the world, are giving up on healthy competition.

Published in 1894, 11 years after the death of Marx himself, Capital Volume 3 was the product of the untiring and meticulous work of Friedrich Engels working from Marx’s outline and notes and carried the subtitle The Process of Capitalist Production as a Whole. In seven parts, Marx and Engels were determined to demonstrate that private property, competition and the market economy driven by the profit motive must lead to the demise of capitalism.

Best-selling author and world-renowned historian Niall Ferguson has won widespread acclaim for thought-provoking works such as Civilization and High Financier. The Great Degeneration tackles nothing less than the decline of Western civilization. Ferguson posits that slowing growth, outrageous debt, and antisocial behavior are contributing to the erosion of the West’s once rock-solid foundations. Ferguson excavates the causes and shows how heroic leadership and radical reform are needed to right the course.

In his "remarkable" (Men's Journal) and "controversial" (Fortune) book -- written in a "wry, amusing style" (The Guardian) -- Bruce Cannon Gibney shows how America was hijacked by the Boomers, a generation whose reckless self-indulgence degraded the foundations of American prosperity. In A...

In this timely and powerful book, Jerry Muller uncovers the damage our obsession with metrics is causing and shows how we can begin to fix the problem. Filled with examples from education, medicine, business and finance, government, the police and military, and philanthropy and foreign aid, this brief and accessible book explains why the seemingly irresistible pressure to quantify performance distorts and distracts, whether by encouraging "gaming the stats" or "teaching to the test"....

For Rupert Russell, the Brexit vote was only the latest shock in a decade full of them: the unstoppable war in Syria, huge migrant flows into Europe, beheadings in Iraq, children placed in cages on the U.S. border. In Price Wars, he sets out on a worldwide journey to investigate what caused the wave of chaos that consumed the world in the 2010s. Russell travels to Tunisia, Iraq, Venezuela, Ukraine, East Africa, and Central America and discovers that unrest in all these places was triggered by dramatic and mysterious swings in the price of essential commodities.

The national best seller that defines a new economic class and shows how it is key to the future of our cities. The Rise of the Creative Class gives us a provocative new way to think about why we live as we do today - and where we might be headed. Weaving storytelling with masses of new and updated research, Richard Florida traces the fundamental theme that runs through a host of seemingly unrelated changes in American society: the growing role of creativity in our economy.

A collection of essays that discusses such issues as the media, immigration, the minimum wage, and multiculturalism.

America emerged from Franklin Roosevelt's New Deal with strong democratic values and broadly shared prosperity. But for the past 30 years, American politics has been dominated by a conservative movement determined to undermine the New Deal's achievements. Now, the tide may be turning, and in The Conscience of a Liberal Paul Krugman, the world's most widely read economist and one of its most influential political commentators, charts the way to reform.

The Accumulation of Capital was published in 1913. In it, Rosa Luxemburg set out to take the views of Karl Marx further by arguing that capitalism can only exist when there are non-capitalist economies to exploit. She postulates that capitalism would stagnate were there no non-capitalist countries with economic resources to assimilate by a cruel, exploitative process of destabilising natural and peasant economies.

Blending history and cutting-edge economic analysis, and writing in lively and jargon-free prose, Saez and Zucman dissect the deliberate choices (and sins of indecision) that have brought us to today: the gradual exemption of capital owners; the surge of a new tax avoidance industry; and the spiral of tax competition among nations. With clarity and concision, they explain how America turned away from the most progressive tax system in history to embrace policies that only serve to compound the wealth of a few.

Growing up poor, Deborah Dundas knew what it meant to want, to be hungry, and to long for social and economic dignity; she understood the crushing weight of having nothing much expected of you. But even after overcoming many of the usual barriers faced by lower- and working-class people, she still felt anxious about her place, and even in relatively safe spaces reluctant to broach the subject of class. While new social movements have generated open conversation about gender and racism, discussions of class rarely include the voices of those most deeply affected: the working class and poor.

America, says Pulitzer Prize-winning reporter Chris Hedges, is convulsed by an array of pathologies that have arisen out of profound hopelessness, a bitter despair and a civil society that has ceased to function. The opioid crisis, the retreat into gambling to cope with economic distress, the pornification of culture, the rise of magical thinking, the celebration of sadism, hate, and plagues of suicides are the physical manifestations of a society that is being ravaged by corporate pillage and a failed democracy. All these ills presage a frightening reconfiguration of the nation and the planet.

The Myth of Capitalism tells the story of how America has gone from an open, competitive marketplace to an economy where a few very powerful companies dominate key industries that affect our daily lives. Digital monopolies like Google, Facebook, and Amazon are gatekeepers to the digital world. Amazon is capturing almost all online shopping dollars. We have the illusion of choice, but for most critical decisions, we have only one or two companies when it comes to high speed internet, health insurance, medical care, mortgage title insurance, or even consumer goods like toothpaste.

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.

Analyzing the political and banking history of the United Kingdom, the United States, Canada, Mexico, and Brazil through several centuries, Fragile by Design demonstrates that chronic banking crises and scarce credit are not accidents due to unforeseen circumstances. Rather, these fluctuations result from the complex bargains made between politicians, bankers, bank shareholders, depositors, debtors, and taxpayers.

We have entered an age of disruption. Financial collapse, climate change, resource depletion, and a growing gap between rich and poor are but a few of the signs. Otto Scharmer and Katrin Kaufer ask, why do we collectively create results nobody wants? Meeting the challenges of this century requires updating our economic logic and operating system from an obsolete “ego-system” focused entirely on the well-being of oneself to an eco-system awareness that emphasizes the well-being of the whole.

A tour de force of historical reportage, America’s Bank illuminates the tumultuous era and remarkable personalities that spurred the unlikely birth of America’s modern central bank, the Federal Reserve. Today, the Fed is the bedrock of the financial landscape, yet the fight to create it was so protracted and divisive that it seems a small miracle that it was ever established. For nearly a century, America, alone among developed nations, refused to consider any central or organizing agency in its financial system.

The two great financial crises of the past century are the Great Depression of the 1930s and the Great Recession, which began in 2008. Both occurred against the backdrop of sharp credit booms, dubious banking practices, and a fragile and unstable global financial system. Pain and suffering were widespread.

In 2006, Ben S. Bernanke was appointed chair of the Federal Reserve, capping a meteoric trajectory from a rural South Carolina childhood to professorships at Stanford and Princeton, to public service in Washington's halls of power. There would be no time to celebrate, however - the burst of the housing bubble in 2007 set off a domino effect that would bring the global financial system to the brink of meltdown.