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Author: Jeff Madrick
Publisher: Vintage
ISBN: 0307596710
Category : Business & Economics
Languages : en
Pages : 482
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Book Description
A vividly told history of how greed bred America’s economic ills over the last forty years, and of the men most responsible for them. As Jeff Madrick makes clear in a narrative at once sweeping, fast-paced, and incisive, the single-minded pursuit of huge personal wealth has been on the rise in the United States since the 1970s, led by a few individuals who have argued that self-interest guides society more effectively than community concerns. These stewards of American capitalism have insisted on the central and essential place of accumulated wealth through the booms, busts, and recessions of the last half century, giving rise to our current woes. In telling the stories of these politicians, economists, and financiers who declared a moral battle for freedom but instead gave rise to an age of greed, Madrick traces the lineage of some of our nation’s most pressing economic problems. He begins with Walter Wriston, head of what would become Citicorp, who led the battle against government regulation. He examines the ideas of economist Milton Friedman, who created the plan for an anti-Rooseveltian America; the politically expedient decisions of Richard Nixon that fueled inflation; the philosophy of Alan Greenspan, on whose libertarian ideology a house of cards was built on Wall Street; and the actions of Sandy Weill, who constructed the largest financial institution in the world, which would have gone bankrupt in 2008 without a federal bailout of $45 billion. Significant figures including Ivan Boesky, Michael Milken, Jack Welch, and Ronald Reagan play key roles as well. Intense economic inequity and instability is the story of our age, and Jeff Madrick tells it with style, clarity, and an unerring command of his subject.
Author: Jeff Madrick
Publisher: Vintage
ISBN: 1400075661
Category : Business & Economics
Languages : en
Pages : 482
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Book Description
A vivid history of the recent economics of greed in the United States. This book explores how the pursuit of immense personal wealth has led to economic inequity and instability in the country. “A fascinating and deeply disturbing tale of hypocrisy, corruption, and insatiable greed. . . . A much-needed reminder of just how we got into the mess we’re in.”—The New York Review of Books Age of Greed shows how the single-minded and selfish pursuit of immense personal wealth has been on the rise in the United States. Economic journalist Jeff Madrick tells this story through incisive profiles of the individuals responsible for this dramatic shift in our country’s fortunes, from the architects of the free-market economic philosophy (such as Milton Friedman and Alan Greenspan) to the politicians and businessmen (including Nixon, Reagan, Boesky, and Soros) who put it into practice. The stories detail how a movement initially conceived as a moral battle for freedom instead brought about some of our nation's most pressing economic problems, including the intense economic inequity and instability America suffers from today. This is an indispensible guide to understanding the 1 percent.
Author: Paul Mason
Publisher: Verso Books
ISBN: 1789601371
Category : Business & Economics
Languages : en
Pages : 236
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Book Description
Meltdown is the gripping account of the financial collapse that destroyed the West's investment banks, brought the global economy to its knees, and undermined three decades of neoliberal orthodoxy. Covering the development of the crisis from the economic front line, BBC Newsnight journalist Paul Mason explores the roots of the US and UK's financial hubris, documenting the real-world causes and consequences from the Ford factory, to Wall Street, to the City of London. In this fully updated new edition, he recounts how the credit crunch became a full-blown financial crisis, and explores its impact on capitalist ideology and politics in our new age of austerity.
Author: Michael Kodas
Publisher: Hachette Books
ISBN: 1401395414
Category : Sports & Recreation
Languages : en
Pages : 539
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Book Description
High Crimes is journalist Michael Kodas's gripping account of life on top of the world--where man is every bit as deadly as Mother Nature. In the years following the publication of Into Thin Air, much has changed on Mount Everest. Among all the books documenting the glorious adventures in mountains around the world, none details how the recent infusion of wealthy climbers is drawing crime to the highest place on the planet. The change is caused both by a tremendous boom in traffic, and a new class of parasitic and predatory adventurer. It's likely that Jon Krakauer would not recognize the camps that he visited on Mount Everest almost a decade ago. This book takes readers on a harrowing tour of the criminal underworld on the slopes of the world's most majestic mountain. High Crimes describes two major expeditions: the tragic story of Nils Antezana, a climber who died on Everest after he was abandoned by his guide; as well as the author's own story of his participation in the Connecticut Everest Expedition, guided by George Dijmarescu and his wife and climbing partner, Lhakpa Sherpa. Dijmarescu, who at first seemed well-intentioned and charming, turned increasingly hostile to his own wife, as well as to the author and the other women on the team. By the end of the expedition, the three women could not travel unaccompanied in base camp due to the threat of violence. Those that tried to stand against the violence and theft found that the worst of the intimidation had followed them home to Connecticut. Beatings, thefts, drugs, prostitution, coercion, threats, and abandonment on the highest slopes of Everest and other mountains have become the rule rather than the exception. Kodas describes many such experiences, and explores the larger issues these stories raise with thriller-like intensity.
Author: Edward C. Lorenz
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 352
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Book Description
A thought-provoking investigation of an urgent issue facing American communities today, Edward C. Lorenz's book examines the intersection of corporate irresponsibility and civic engagement. A critical analysis of public and private leadership, business and economic ethics, and civic life, this book concludes with a stirring blueprint for other communities facing similarly overwhelming opposition.
Author: Laurence Shames
Publisher: Createspace Independent Pub
ISBN: 9781508581000
Category : Social Science
Languages : en
Pages : 240
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Book Description
In the lyrical yet tough-minded tradition of Thoreau, this prescient and impassioned volume, written by a former Ethics columnist for Esquire magazine, examines the myths and follies of a culture that celebrates greed and defines success solely in terms of wealth. As timely today as it was upon its original release in 1989, the book examines the corrosive effects of money-worship on the social fabric and warns of the consequences of pursuing a lifestyle rather than building a life. Written in a lively, journalistic style, and filled with telling observations, the volume takes an unsparing look at the world as it is---and also points the way toward the more humane and fulfilling world that is in our power to create. Said The New York Times, “Shames' critique is on the mark…concrete, compelling reading.”“A scathing indictment of the excesses of our time as well as a prophecy of changes ahead.”—Atlanta Journal-Constitution
Author: David E. Y. Sarna
Publisher: John Wiley & Sons
ISBN: 0470601809
Category : Business & Economics
Languages : en
Pages : 418
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Book Description
The “greater fool” theory of economics states that it’s possible to make money by buying paper (securities), whether overvalued or not, and later, selling it at a profit because there will always be an even greater fool willing to pay the higher price. Many described in this book profited by peddling such worthless junk to foolish investors. But for some people—Bernie Madoff, Norman Hsu, Sholam Weiss, and “Crazie Eddie” Antar, aka the “Darth Vader of Capitalism”—overvalued securities were not enough. Outright fraud was their way of life. History of Greed is the compelling inside story of the names you know—Charles Ponzi, Baron Rothschild, Lou Pearlman—and the names you don’t—Isaac Le Maire, the world’s first “naked” short-seller. It’s also our story—why we ignore the lessons of the past and fall prey, most every time, to the promise of easy money. For thousands of years, alchemists unsuccessfully tried to turn worthless base metals into gold. Where science failed at turning nothing into something, business succeeded. Sometimes we praise the creators of derivatives, collateral debt obligations, subprime mortgages, credit default swaps, or auction rate securities as Wall Street’s new financial wizards, the creators of “magic paper.” Other times, we vilify and prosecute them as scam artists. Sometimes, it’s hard to tell who is who. History of Greed reveals the inside secrets of how the markets really work, and how scam artists abuse them to gain an unfair edge or to outright steal. It describes how luftgescheft (“air business”), wizardry, dishonesty, and fraud are used to swindle people. Along with a comprehensive bibliography, History of Greed also details: 400 years of financial fraud—from everyday fraud to the odd and unusual Accounting fraud (phantom sales), stock option fraud (backdating), auction rate securities, hedge fund fraud, Ponzi schemes, promotion fraud (pump-and-dump scams), and money laundering How to detect fraudulent schemes How government regulation only fixes yesterday’s problems If it’s too good to be true, it probably is. If they say you can’t lose, you probably will. History of Greed shows that there really is no such thing as a free lunch, while also detailing how not to become the “greater fool.”
Author: Sarah Chayes
Publisher: Vintage
ISBN: 0525654860
Category : Political Science
Languages : en
Pages : 433
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Book Description
From the prizewinning journalist and internationally recognized expert on corruption in government networks throughout the world comes a major work that looks homeward to America, exploring the insidious, dangerous networks of corruption of our past, present, and precarious future. “If you want to save America, this might just be the most important book to read now." —Nancy MacLean, author of Democracy in Chains Sarah Chayes writes in her new book, that the United States is showing signs similar to some of the most corrupt countries in the world. Corruption, she argues, is an operating system of sophisticated networks in which government officials, key private-sector interests, and out-and-out criminals interweave. Their main objective: not to serve the public but to maximize returns for network members. In this unflinching exploration of corruption in America, Chayes exposes how corruption has thrived within our borders, from the titans of America's Gilded Age (Andrew Carnegie, John D. Rockefeller, J. P. Morgan, et al.) to the collapse of the stock market in 1929, the Great Depression, and FDR's New Deal; from Joe Kennedy's years of banking, bootlegging, machine politics, and pursuit of infinite wealth to the deregulation of the Reagan Revolution--undermining this nation's proud middle class and union members. She then brings us up to the present as she shines a light on the Clinton policies of political favors and personal enrichment and documents Trump's hydra-headed network of corruption, which aimed to systematically undo the Constitution and our laws. Ultimately and most importantly, Chayes reveals how corrupt systems are organized, how they enable bad actors to bend the rules so their crimes are covered legally, how they overtly determine the shape of our government, and how they affect all levels of society, especially when the corruption is overlooked and downplayed by the rich and well-educated.
Author: Michael Rosberg
Publisher: University of Alberta
ISBN: 9780888644299
Category : Business & Economics
Languages : en
Pages : 348
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Book Description
The Power of Greed recommends a shift away from the moralistic way we often go about doing international development. It says we can be too focused on our own ambitions for others and too unaware of what they’re up to on their own behalf. It argues that the desperate and greedy behaviours of the poor and their oppressors are not the enemies of international development, but its potential allies. It also says we ought to resist taking sides in defence of the poor. Productive alliances between oppressed and oppressor are possible if the conditions are right. Furthermore, it says that we need to tie national institutional and economic strengthening measures to the creation of sustainable interest groups at the grassroots. Only they could be in a position to prevent greed and corruption at the top in a sustainable way. For these reasons, The Power of Greed tries to get us to focus on doing more about the opportunity structure in the developing world and, for the rest, to rely on the opportunism of the population.
Author: Robin Wasserman
Publisher: Simon and Schuster
ISBN: 1416907203
Category : Juvenile Fiction
Languages : en
Pages : 260
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Book Description
As the year draws to an end, Miranda gets what she always wanted, Kane reforms his ways, Harper hopes to be prom queen, and Adam is busy tending to Beth who is thinking about leaving Reed.
Author: Paul Collier
Publisher: Penguin UK
ISBN: 0141994177
Category : Political Science
Languages : en
Pages : 209
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Book Description
Two of the UK's leading economists call for an end to extreme individualism as the engine of prosperity 'provocative but thought-provoking and nuanced' Telegraph Throughout history, successful societies have created institutions which channel both competition and co-operation to achieve complex goals of general benefit. These institutions make the difference between societies that thrive and those paralyzed by discord, the difference between prosperous and poor economies. Such societies are pluralist but their pluralism is disciplined. Successful societies are also rare and fragile. We could not have built modernity without the exceptional competitive and co-operative instincts of humans, but in recent decades the balance between these instincts has become dangerously skewed: mutuality has been undermined by an extreme individualism which has weakened co-operation and polarized our politics. Collier and Kay show how a reaffirmation of the values of mutuality could refresh and restore politics, business and the environments in which people live. Politics could reverse the moves to extremism and tribalism; businesses could replace the greed that has degraded corporate culture; the communities and decaying places that are home to many could overcome despondency and again be prosperous and purposeful. As the world emerges from an unprecedented crisis we have the chance to examine society afresh and build a politics beyond individualism.
