Why has inequality increased in the Western world - and what can we do about it? In The Great Divide , Joseph Stiglitz fully exposes the inequality - from its dimensions and its causes to its consequences for the world - that is afflicting America and other Western countries in thrall to neoliberalism. From Reagan-era policies to the Great Recession and its long aftermath, Stiglitz delves into the processes and irresponsible policies - deregulation, tax cuts for the rich, the corruption of the political process - that are leaving many people further and further behind and turning the dream of a socially mobile society into an ever more unachievable myth. With formidable yet accessible economic insight, he urges us to embrace real solutions- increasing taxes on corporations and the wealthy; investing in education, science and infrastructure; helping homeowners instead of banks; and, most importantly, doing more to restore the economy to full employment. Stiglitz's analysis reaches beyond America - the inequality leader of the developed world - to draw lessons from Scandinavia, Singapore and Japan, and he argues against the tide of unnecessary, destructive austerity that is sweeping across Europe. Ultimately, Stiglitz believes our choice is not between growth and fairness; with the right policies, we can choose both. 'Stiglitz is a rare combination of virtuoso economist, witty polemicist and public intellectual. ' Robert Kuttner, New Statesman 'Stiglitz is a rare breed, an heretical economist who has ruffled the self-satisfied global establishment that once fed him.' Ian Fraser, Sunday Tribune 'A seer of almost Keynesian proportions.' Michael Hirsh, Newsweek 'An insanely great economist.' Paul Krugman, The New York Times

This original and panoramic book proposes that the underlying forces of demography and globalisation will shortly reverse three multi-decade global trends - it will raise inflation and interest rates, but lead to a pullback in inequality. "Whatever the future holds", the authors argue, "it will be nothing like the past". Deflationary headwinds over the last three decades have been primarily due to an enormous surge in the worlds available labour supply, owing to very favourable demographic trends and the entry of China and Eastern Europe into the worlds trading system. This book demonstrates how these demographic trends are on the point of reversing sharply, coinciding with a retreat from globalisation. The result? Ageing can be expected to raise inflation and interest rates, bringing a slew of problems for an over-indebted world economy, but is also anticipated to increase the share of labour, so that inequality falls. Covering many social and political factors, as well as those that are more purely macroeconomic, the authors address topics including ageing, dementia, inequality, populism, retirement and debt finance, among others. This book will be of interest and understandable to anyone with an interest on where the worlds economy is going.

At a time of profound economic uncertainty, five rising stars of the Conservative party provide a powerful vision for a resurgent Britain Britannia Unchained argues that Britain needs to abandon pride to learn from other countries to achieve success. It puts Britain firmly within the context of international competition, particularly with emerging economies. Britain is often cited as a classic example of a declining power and yet Britain in the 21st century still possesses immense advantages: the English language, an excellent higher education, the most excellent financial sector in the world, and a convenient time zone. While many commentators forecast the decline of the West, while the Asian Tigers are the future, Britannia Unchained provides a persuasive and compelling route-map to an alternative future where through the right approach to education, the economy and a just and fair society, Britain can lead the world once more.

This devastating and inspiring book, by one of the world's leading economic thinkers, lays out not only the course of the financial crisis which began in 2007, but also its underlying causes, and shows why much more radical reforms are needed than are currently being contemplated if we are to avoid similar 'systemic' crises in the future. Frefall shows why the bailout has been only marginally effective and how it could have been much more so, and outlines the enormous opportunity - not yet taken - to design a new global financial architecture. It is highly critical of many of the actions not only of George Bush's administration, but also of Barack Obama's. It shows why the bulk of the cost of recovery should be borne by those in the financial sector - not just for reasons of natural justice, but for compelling economic reasons also. More than any of this, it reminds readers to think constantly about what economics are for. Out of the crisis of our times, Joseph Stiglitz has crafted a tract which goes to the heart of economics and will be read long after the immediate impact of these mismanaged years has passed.

For a century, economists have driven forward the cause of globalization in financial institutions, labour markets, and trade. Yet there have been consistent warning signs that a global economy and free trade might not always be advantageous. Where are the pressure points? What could be done about them?Dani Rodrik examines the back-story from its seventeenth-century origins through the milestones of the gold standard, the Bretton Woods Agreement, and the Washington Consensus, to the present day. Although economic globalization has enabled unprecedented levels of prosperity in advanced countries and has been a boon to hundreds of millions of poor workers in China and elsewhere in Asia, it is a concept that rests on shaky pillars, he contends. Its long-term sustainability is not a given.The heart of Rodrik>'s argument is a fundamental 'trilemma': that we cannot simultaneously pursue democracy, national self-determination, and economic globalization. Give too much power to governments, and you have protectionism. Give markets too much freedom, and you have an unstable world economy with little social and political support from those it is supposed to help. Rodrik argues for smart globalization, not maximum globalization.

The result of extensive dialogue between two of the world's leading business figures, this book considers the changes occuring in the global economy and identifies the challenges faced by China and Japan. Drucker and Nakauchi address the following crucial questions What do these economic changes mean for an individual country and its economy? What do these changes mean to Japan? What do these changes mean to society; the individual company; the individual professional and executive? A series of brilliant insights into the future economic role of Asia, this book remains essential reading today.

From the former news policy lead at Google, an urgent and groundbreaking account of the high-stakes global cyberwar brewing between Western democracies and the autocracies of China and Russia that could potentially crush democracy. From 2016 to 2020, Jacob Helberg led Google's global internal product policy efforts to combat disinformation and foreign interference. During this time, he found himself in the midst of what can only be described as a quickly escalating two-front technology cold war between democracy and autocracy. On the front-end, we're fighting to control the software--applications, news information, social media platforms, and more--of what we see on the screens of our computers, tablets, and phones, a clash which started out primarily with Russia but now increasingly includes China and Iran. Even more ominously, we're also engaged in a hidden back-end battle--largely with China--to control the Internet's hardware, which includes devices like cellular phones, satellites, fiber-optic cables, and 5G networks. This tech-fueled war will shape the world's balance of power for the coming century as autocracies exploit twenty-first-century methods to re-divide the world into twentieth century-style spheres of influence. Helberg cautions that the spoils of this fight are power over every meaningful aspect of our lives, including our economy, our infrastructure, our national security, and ultimately, our national sovereignty. Without a firm partnership with the government, Silicon Valley is unable to protect democracy from the autocrats looking to sabotage it from Beijing to Moscow and Tehran. The stakes of the ongoing cyberwar are no less than our nation's capacity to chart its own future, the freedom of our democratic allies, and even the ability of each of us to control our own fates, Helberg says. And time is quickly running out.

"From a Nobel Prize-winning pioneer in environmental economics, an innovative account of how and why "green thinking" could cure many of the world's most serious problems-from global warming to pandemics Solving the world's biggest problems-from climate catastrophe and pandemics to wildfires and corporate malfeasance-requires, more than anything else, coming up with new ways to manage the powerful interactions that surround us. For carbon emissions and other environmental damage, this means ensuring that those responsible pay their full costs rather than continuing to pass them along to others, including future generations. In The Spirit of Green, Nobel Prize-winning economist William Nordhaus describes a new way of green thinking that would help us overcome our biggest challenges without sacrificing economic prosperity, in large part by accounting for the spillover costs of economic collisions. In a discussion that ranges from the history of the environmental movement to the Green New Deal, Nordhaus explains how the spirit of green thinking provides a compelling and hopeful new perspective on modern life. At the heart of green thinking is a recognition that the globalized world is shaped not by isolated individuals but rather by innumerable interactions inside and outside the economy. He shows how rethinking economic efficiency, sustainability, politics, profits, taxes, individual ethics, corporate social responsibility, finance, and more would improve the effectiveness and equity of our society. And he offers specific solutions-on how to price carbon, how to pursue low-carbon technologies, how to design an efficient tax system, and how to foster international cooperation through climate clubs. The result is a groundbreaking new vision of how we can have our environment and our economy too"--

The true cost of the Iraq War is $3 trillion rather than the $50 billion projected by the White House. Apart from its tragic human toll, the Iraq War will be staggeringly expensive in financial terms. This sobering study by Nobel Prize winner Joseph E. Stiglitz and Harvard professor Linda J. Bilmes casts a spotlight on expense items that have been hidden from the U.S. taxpayer, including not only big-ticket items like replacing military equipment (being used up at six times the peacetime rate) but also the cost of caring for thousands of wounded veterans for the rest of their lives. Shifting to a global focus, the authors investigate the cost in lives and economic damage within Iraq and the region. Finally, with the chilling precision of an actuary, the authors measure what the U.S. taxpayer's money would have produced if instead it had been invested in the further growth of the U.S. economy. Written in language as simple as the details are disturbing, this book will forever change the way we think about the war.

The word "globalization" is used to convey the hope and determination of order-making on a worldwide scale. It is trumpeted as providing more mobility--of people, capital, and information--and as being equally beneficial for everyone. With recent technological developments--most notably the Internet--globalization seems to be the fate of the world. But no one seems to be in control. As noted sociologist Zygmunt Bauman shows in this detailed history of globalization, while human affairs now take place on a global scale, we are not able to direct events; we can only watch as boundaries, institutions, and loyalties shift in rapid and unpredictable ways. Who benefits from the new globalization? Are people in need assisted more quickly and efficiently? Or are the poor worse off than ever before? Will a globalized economy shift jobs away from traditional areas, destroying time-honored national industries? Who will enjoy access to jobs in the new hierarchy of mobility? From the way the global economy creates a class of absentee landlords to current prison designs for the criminalized underclass, Bauman dissects globalization in all its manifestations: its effects on the economy, politics, social structures, and even our perceptions of time and space. In a chilling analysis, Bauman argues that globalization divides as much as it unites, creating an ever-widening gulf between the haves and the have-nots. Rather than the hybrid culture we had hoped for, globalization is creating a more homogenous world. Drawing on the works of philosophers, social historians, architects, and theoreticians such as Michel Foucault, Claude Lévi-Strauss, Alfred J. Dunlap, and Le Corbusier, Globalization presents a historical overview of the methods employed to create and define human spaces and institutions, from rural villages to sprawling urban centers. Bauman shows how the advent of the computer translates into the decline of truly public space. And he explores the dimensions of a world in which--through new technologies--time is accelerated and space is compressed, revealing how we have arrived at our current state of global thinking. Bauman's incisive methods of inquiry make Globalization an excellent antidote to the exuberance expressed by those who stand to benefit from the new pace and mobility of the modern life.

From one of America's foremost economic and political thinkers comes a vital analysis of our new hypercompetitive and turbo-charged global economy and the effect it is having on American democracy. With his customary wit and insight, Reich shows how widening inequality of income and wealth, heightened job insecurity, and corporate corruption are merely the logical results of a system in which politicians are more beholden to the influence of business lobbyists than to the voters who elected them. Powerful and thought-provoking, Supercapitalism argues that a clear separation of politics and capitalism will foster an enviroment in which both business and government thrive, by putting capitalism in the service of democracy, and not the other way around.

David Cameron was elected Conservative leader in 2005, promising to modernize the party following its three successive electoral defeats. He became Prime Minister in 2010, forming Britain’s first coalition government in 70 years, at a moment of economic crisis, and went on to win the first outright Conservative majority for 23 years at the 2015 general election. In For the Record, he will explain how the governments he led transformed the UK economy while implementing a modern, compassionate agenda that included reforming education and welfare, legalizing gay marriage, honoring the UK’s commitment to overseas aid and spearheading environmental policies. He will shed light on the seminal world events of his premiership—the Arab Spring; the rise of ISIS; the invasion of Ukraine; the conflicts in Libya, Iraq and Syria—as well as events at home, from the Olympic Games in 2012 to the Scottish referendum. He will provide, for the first time, his perspective on the EU referendum and his views on the future of Britain’s place in the world following Brexit. Revealing the battles and achievements of his life and career in intimate and frank detail, For the Record will be an important assessment of the significant political events of the last decade, the nature of power and the role of leadership at a time of profound global change.

Mid-twentieth-century capitalism has turned into global capitalism, and global capitalism - turbocharged, Web-based, and able to find and make almost anything just about anywhere - has turned into supercapitalism. But as Robert B. Reich makes clear in this eye-opening book, while supercapitalism is working wonderfully well to enlarge the economic pie, democracy - charged with caring for all citizens - is becoming less and less effective under its influence. Reich explains how widening inequalities of income and wealth, heightened job insecurity, and the spreading effects of global warming are the logical outcomes of supercapitalism. He shows us why companies, fighting harder than ever to maintain their competitive positions, have become even more deeply involved in politics; and how average citizens, seeking great deals and invested in the stock market to an unprecedented degree, are increasingly loath to stand by their values if it means biting the hands that feed them. As one of America's most influential voices, Reich sets out a clear course to a vibrant capitalism and a concurrent, equally vibrant democracy.

Provides a look at how smugglers and traffickers, backed by powerful, well-financed networks, have affected the global economy, examining the interconnections among a variety of such illegal enterprises and their operations.

The former dean of the Yale School of Management and Undersecretary of Commerce in the Clinton administration chronicles the 1971 August meeting at Camp David, where President Nixon unilaterally ended the last vestiges of the gold standard--breaking the link between gold and the dollar--transforming the entire global monetary system. Over the course of three days--from August 13 to 15, 1971--at a secret meeting at Camp David, President Richard Nixon and his brain trust changed the course of history. Before that weekend, all national currencies were valued to the U.S. dollar, which was convertible to gold at a fixed rate. That system, established by the Bretton Woods Agreement at the end of World War II, was the foundation of the international monetary system that helped fuel the greatest expansion of middle-class prosperity the world has ever seen. In making his decision, Nixon shocked world leaders, bankers, investors, traders and everyone involved in global finance. Jeffrey E. Garten argues that many of the roots of America's dramatic retrenchment in world affairs began with that momentous event that was an admission that America could no longer afford to uphold the global monetary system. It opened the way for massive market instability and speculation that has plagued the world economy ever since, but at the same time it made possible the gigantic expansion of trade and investment across borders which created our modern era of once unimaginable progress. Based on extensive historical research and interviews with several participants at Camp David, and informed by Garten's own insights from positions in four presidential administrations and on Wall Street, Three Days at Camp David chronicles this critical turning point, analyzes its impact on the American economy and world markets, and explores its ramifications now and for the future.

It's 2008, and it's been a while since Jake Adelstein was the only gaijin crime reporter for the Yomiuri Shimbun . The global economy is in shambles, Jake is off the police beat but still chain-smoking clove cigarettes, and Tadamasa Goto, the most powerful boss in the Japanese organised-crime world, has been banished from the yakuza, giving Adelstein one less enemy to worry about - for the time being. But as he puts his life back together, he discovers that he may be no match for his greatest enemy - himself. And Adelstein has a different gig these days- due-diligence work, or using his investigative skills to dig up information on entities whose bosses would prefer that some things stay hidden. The underworld isn't what it used to be. Underneath layers of paperwork, corporations are thinly veiled fronts for the yakuza. Pachinko parlours are a hidden battleground between disenfranchised Japanese Koreans and North Korean extortion plots. TEPCO, the electric power corporation keeping the lights on for all of Tokyo, scrambles to hide its willful oversights that ultimately led to the 2011 Fukushima meltdown. And the Japanese government shows levels of corruption that make the yakuza look like philanthropists in comparison. All this is punctuated by personal tragedies no one could have seen coming. In this ambitious and riveting work, Jake Adelstein explores what it's like when you're in too deep to distinguish the story you chase from the life you live. 'Journalist Adelstein follows up The Last Yakuza with another illuminating blend of memoir and reportage ... As always, the author's ability to boil down Japan's complex sociopolitical dynamics in sharp, often-humorous prose impresses ... For true crime fans, this is a treat.' - Publishers Weekly Praise for The Last Yakuza - 'Journalist Adelstein parlays decades of reporting on Japanese organised crime into a propulsive history of the yakuza. Drawing on interviews with both his yakuza and Japanese law enforcement contacts, he examines how yakuza groups obtained power ... He's especially good at tracing the yakuza's political influence in Japan, explaining how they bribed and blackmailed legislators into opposing bills that would have curbed their influence. Painstakingly reported and paced like a thriller, this is a must read for anyone interested in organised crime.' - Publishers Weekly Praise for Tokyo Vice - ' Tokyo Vice is about Japanese subculture. Adelstein instructs us in the vagaries of Japanese journalism and provides a gamy, colourful tour of the morally flexible areas of Japan, particularly in Tokyo. He also shows how Japanese police work and interact with journalists. Adelstein shares juicy, salty, and occasionally funny anecdotes, but many are frightening ... Adelstein doesn't lack for self-confidence ... but beneath the bravado are a big heart and a relentless drive for justice.' -Carlo Wolff, The Boston Globe

Why is the Atlantic slowly filling with crude petroleum, threatening a millions-of-years-old ecological balance? Why did traders at prominent banks take high-risk gambles with the money entrusted to them by hundreds of thousands of clients around the world, expanding and leveraging their investments to the point that failure led to a global financial crisis that left millions of people jobless and hundreds of cities economically devastated? Why would the world's most powerful military spend ten years fighting an enemy that presents no direct threat to secure resources for corporations? The culprit in all cases is neoliberal ideology—the belief in the supremacy of "free" markets to drive and govern human affairs. And in the years since the initial publication of Noam Chomsky's Profit Over People: Neoliberalism and Global Order, the bitter vines of neoliberalism have only twisted themselves further into the world economy, obliterating the public’s voice in public affairs and substituting the bottom line in place of people’s basic obligation to care for one another as ends in themselves. In Profit Over People, Chomsky reveals the roots of the present crisis, tracing the history of neoliberalism through an incisive analysis of free trade agreements of the 1990s, the World Trade Organization, and the International Monetary Fund—and describes the movements of resistance to the increasing interference by the private sector in global affairs. In the years since the initial publication of Profit Over People, the stakes have only risen. Now more than ever, Profit Over People is one of the key texts explaining how the crisis facing us operates—and how, through Chomsky’s analysis of resistance, we may find an escape from the closing net.

The unholy alliance of the Political Right and the Religious Right threatens to destroy the America we love. It also threatens to generate a popular aversion to God and religion by identifying religious values with a pro-war, pro-business, pro-rich, anti-science, and anti-environmental stance. Over the past few decades, the Republicans have achieved political dominance by forging a union with the Religious Right. This marriage has provided a sanctimonious veneer for policies that have helped the rich get richer while ignoring the needs of the middle class and the poor, dismantling environmental and civil liberties protections, and seeking global domination. The Right champions the materialism and ruthless selfishness promoted by unrestrained capitalism and then laments the moral crises of family instability and loneliness experienced by people who bring these commercial values into their homes and personal lives. In response, the Religious Right offers insular communities for the faithful and a culture that blames liberals, activist judges, homosexuals, independent women, and all secular people for the moral and spiritual emptiness so many Americans experience. Yet, however distorted both the Right's analysis and its solutions to America's spiritual crisis may be, it wins allegiance by addressing the human hunger for a life with some higher purpose. The Left, by contrast, remains largely tone-deaf to the spiritual needs of the American people. It is the yearning for meaning in life, not just the desire for money or power, that lies at the core of American politics. Addressing the central mystery of contemporary politics -- why so many Americans vote against their own economic interests --" The Left Hand of God" provides an invaluable, timely, and blunt critique of the current state of faith in government. Lerner challenges the Left to give up its deeply held fear of religion and to distinguish between a domination-oriented, Right-Hand-of-God tradition and a more compassionate and hope-oriented Left-Hand-of-God worldview. Further, Lerner describes the ways that Democrats have misunderstood and alienated significant parts of their potential constituency. To succeed again, Lerner argues, the Democratic Party must rethink its relationship to God, champion a progressive spiritual vision, reject the old bottom line that promotes the globalization of selfishness, and deal head-on with the very real spiritual crisis that many Americans experience every day. Lerner presents a vision that incorporates and then goes far beyond contemporary liberal and progressive politics. He argues for a new bottom line in our economy, schools, and government. This is a fundamentally fresh approach, one that takes spiritual needs seriously in our economic and political lives. Presenting an eight-point progressive spiritual covenant with America, Lerner provides a blueprint for how the Democratic Party can effectively challenge the Right and position itself to win the White House and Congress. By appealing to religious, secular, and spiritual but not necessarily religious people, "The Left Hand of God" blazes a trail that could change our world and reclaim America from the Religious Right.

"This book looks at the role illegality or undocumentedness plays in our society and economy. It shows how the status was created, and how and why people, especially Mexicans and Central Americans, have been assigned this status. The first three chapters look at the histories of social exclusion. One looks specifically at the Mexican and Guatemalan contexts to understand why such large numbers of people from these countries enter the United States without documents, and how those who do so understand their own motivations. Two chapters focus on the role of illegality in the economy. Undocumented people tend to work in three different kinds of jobs: jobs that have been historically marginalized, like those in agriculture; jobs that have been downgraded from well-paid, unionized work to low-wage labor, like meatpacking; and newly booming job categories that underlie post-war consumerist prosperity like landscaping and childcare work. One chapter looks at children and families, focusing especially on the experiences of undocumented youth and youth with undocumented parents, and at the leadership role that undocumented youth have taken in the undocumented rights movement. One looks at the dizzying complexity of status to point out that virtually nobody really understand what "illegal" means. It looks at the detention system and the interests behind it. Finally, the last chapter explores the different "solutions" to the problem of undocumentedness that have been proposed and implemented over time, and shows why they have failed. Undocumentedness is deeply imbedded in global and national political and economic systems, and the concept itself must be understood and challenged in order to create a more just system. "--

"From the chief economic commentator for the Financial Times, a brilliant tour d'horizon of the new global economy and its trajectory There have been many books that have sought to explain the causes and courses of the financial and economic crisis which began in 2007-8. The Shifts and the Shocks is not another detailed history of the crisis, but the most persuasive and complete account yet published of what the crisis should teach us about modern economies and economics. The book identifies the origin of the crisis in the complex interaction between globalization, hugely destabilizing global imbalances and our dangerously fragile financial system. In the eurozone, these sources of instability were multiplied by the tragically defective architecture of the monetary union. It also shows how much of the orthodoxy that shaped monetary and financial policy before the crisis occurred was complacent and wrong. In doing so, it mercilessly reveals the failures of the financial, political and intellectual elites who ran the system. The book also examines what has been done to reform the financial and monetary systems since the worst of the crisis passed. "Are we now on a sustainable course?" Wolf asks. "The answer is no." He explains with great clarity why "further crises seem certain" and why the management of the eurozone in particular "guarantees a huge political crisis at some point in the future." Wolf provides far more ambitious and comprehensive plans for reform than any currently being implemented. Written with all the intellectual command and trenchant judgment that have made Martin Wolf one of the world's most influential economic commentators, The Shifts and the Shocks matches impressive analysis with no-holds-barred criticism and persuasive prescription for a more stable future. It is a book no one with an interest in global affairs will want to neglect. "--