Dean Baker, codirector of the Center for Economic and Policy Research recounts the strategies used by the country's top economic policymakers to conceal their failure to recognize the housing bubble or take steps to rein it in before it grew to unprecedented levels, resulting in the loss of millions of jobs, homes, and the life savings of tens o...

Magdoff’s analysis is the foundation upon which the work of an entire tradition of Monthly Review authors rests.

Technical changes in the first half of the nineteenth century led to unprecedented economic growth and capital formation throughout Western Europe; and yet Ireland hardly participated in this process at all. While the Northern Atlantic Economy prospered, the Great Irish Famine of 1845-50 killed a million and a half people and caused hundreds of thousands to flee the country. Why the Irish economy failed to grow, and 'why Ireland starved' remains an unresolved riddle of economic history. Professor Mokyr maintains that the 'Hungry Forties' were caused by the overall underdevelopment of the economy during the decades which preceded the famine. In Why Ireland Starved he tests various hypotheses that have been put forward to account for this backwardness. He dismisses widespread arguments that Irish poverty can be explained in terms of over-population, an evil land system or malicious exploitation by the British. Instead, he argues that the causes have to be sought in the low productivity of labor and the insufficient formation of physical capital - results of the peculiar political and social structure of Ireland, continuous conflicts between landlords and tenants, and the rigidity of Irish economic institutions. Mokyr's methodology is rigorous and quantitative, in the tradition of the New Economic History. It sets out to test hypotheses about the causal connections between economic and non-economic phenomena. Irish history is often heavily coloured by political convictions: of Dutch-Jewish origin, trained in Israel and working in the United States. Mokyr brings to this controversial field not only wide research experience but also impartiality and scientific objectivity. The book is primarily aimed at numerate economic historians, historical demographers, economists specializing in agricultural economics and economic development and specialists in Irish and British nineteenth-century history. The text is, nonetheless, free of technical jargon, with the more complex material relegated to appendixes. Mokyr's line of reasoning is transparent and has been easily accessible and useful to readers without graduate training in economic theory and econometrics since ists first publication in 1983.

Do you ever watch the business news and think: what would Murray Rothbard say about this? He remained a news junky all his life, even while working on his grand scholarly treatises. He was no academic snob; he believed, like Mises, that economics was the business of everyone. It is in this book that you find his running commentary on all the economic issues that vexed the world between 1982 and 1995. They are the same issues in the headlines today! The goal of this hefty tome (551pp) by this master economist is to communicate with the public about economic theory and policy, in the form of articles that appeared in the Mises Institute's monthly .This is the expanded Second Edition, and it includes 117 articles--several additional ones that were left out of the original. It includes "Taking Money Back," a 25-page populist case for the gold standard, his famous "Protectionism and the Destruction of Prosperity," along with a new essay on fixed-exchange rates, and an obituary of Ludwig von Mises. It also has a new introduction by Robert Murphy. For this reason, it is nearly 100 pages longer.No economist has ever written so clearly about subjects usually wrapped in mystery. Even when discussing exchange rates, interest rates, and central banking, Rothbard is clear and persuasive. That's what makes this book so wonderful, and so dangerous to the purveyors of economic fallacy and those who enforce their ideas on the public. Robert Murphy has written that it was this book that is most likely to get people interested in economic issues. Rothbard's prose is witty and strong, and his logic is compelling at every step. "Divided up topically, the book touches upon almost every important policy issue that has been before the public during the last decade... Reading through these over 100 articles reminded me just how deep my intellectual debt to him really was, and how richer the cause of freedom has been because of his writings over the decades." Richard Ebeling, Foundation for Economic Education. With a new introduction by Robert Murphy

This book presents a comprehensive study of the most famous and spectacular instance of inflation in modern industrial society--that in Germany during and following World War I. A broad, probing narrative, this book studies inflation as a strategy of social pacification and economic reconstruction and as a mechanism for escaping domestic and international indebtedness. The Great Disorder is a study of German society under the tension of inflation and hyperinflation, and it explores the ways in which Germany's hyperinflation and stabilization were linked to the Great Depression and the rise of National Socialism. This wide-ranging study sets German inflation within the broader issues of maintaining economic stability, social peace, and democracy and thus contributes to the general history of the twentieth century and has important implications for existing and emerging market economies facing the temptation or reality of inflation.

With capitalism in deep crisis, this urgent and impassioned book shows how and why growing populist nationalism across the world threatens the bonds that keep our societies prosperous, strong and united.

Iconoclast David F. Noble traces the evolution and eclipse of the biblical mythology of the Promised Land, the foundational story of Western Culture. Part impassioned manifesto, part masterful survey of opposed philosophical and economic schools, "Beyond the Promised Land" brings into focus the twisted template of the Western imagination and its faith-based market economy. From the first recorded versions of "the promise" saga in ancient Babylon, to the Zapatistas' rejection of promises never kept, Noble explores the connections between Judeo-Christian belief and corporate globalization. Inspiration for activists and students alike. David Noble is the author of "Progress Without People" (BTL, 1995) and "Digital Diploma Mills" (BTL, 2002). He teaches history at York University, Toronto.

In addition to producing much other literature, Marxist economist Perlo (1912-99) wrote more than 3,000 People vs. Profits columns over 39 years for the Communist Party paper People's Weekly World . Survivors and colleagues reprint a selection based on their portrayal of conditions at the time. Presumably a second volume will consider foreign matters. Annotation (c) Book News, Inc., Portland, OR (booknews.com)

Never HIGHLIGHT a Book Again! Virtually all of the testable terms, concepts, persons, places, and events from the textbook are included. Cram101 Just the FACTS101 studyguides give all of the outlines, highlights, notes, and quizzes for your textbook with optional online comprehensive practice tests. Only Cram101 is Textbook Specific. Accompanys: 9780137037414 .

Economics, Finance

As chairman of the Federal Reserve Board in the seventies, Arthur Burns had a unique view of the Nixon administration. Burns first joined the Nixon administration as an advisor in 1969 and was privy to the dynamics of the president's coterie over the course of six tumultuous years. Now the recently released secret diary of this top-level economist offers a surprisingly candid inside look at Richard Nixon's fall. The diary tracks Burns's growing awareness of Nixon's behind-the-scenes maneuverings and worrisome behavior (such as "insane shouting") and reveals how such things undermined his respect and enthusiasm for the president. Perhaps even more telling, Burns's evaluations of his colleagues provide piercing insights into the president's inner circle, including Henry Kissinger ("a brilliant political analyst, but admittedly ignorant of economics"), George Schultz ("a no less confused amateur economist"), John Connally ("a thoroughly confused politician"), and the "vulgarians" H. R. Haldeman and John Ehrlichman-the only people he thought Nixon felt relaxed around. The Burns diary also offers rare and telling glimpses into the era's economy--particularly an account of how Nixon exerted political pressure to shape monetary policies that helped to fuel the stagflation of the 1970s. The administration sought to close the so-called gold window, an approximate valuation of dollars with gold bullion, by floating the dollar, and the consensus over many years has been that Nixon himself arranged this-speculation now confirmed by Burns's diary. It also underscores the growing pressure Burns felt to serve the needs of Nixon's reelection bid rather than the economic welfare of the nation. Sequestered for decades and unavailable until 2008, this document reveals an honest and relatively apolitical man surrounded by partisans in top administrative positions who were dishonest, inept-or both. "The President has many shortcomings," wrote Burns. "He has few convictions, but now and then he gets into a euphoric mood where he wants to persuade himself that he's a statesman. But his sycophantic advisers cannot even recognize that." Deftly annotated by distinguished historian Robert Ferrell, who provides effective historical context and perspective, the Burns diary is a potent-and poignant-testament to the Machiavellian and often Byzantine world of American presidential politics.

A new English translation of Isaak Illich Rubin’s classic Essays on Marx’s Theory of Value. First published in the Soviet Union in 1923, Rubin’s book sparked a fierce value controversy with contemporary Soviet economists during the late 1920s. As such, the present translation is conceived as a variorum edition, including all the essential supplementary materials related to this foundational work in Marx’s value theory, published here in English for the first time. In addition to Rubin’s main work, this edition includes his four most important related publications, as well as ten debate articles written and published by his contemporary proponents and opponents.

Read a transcript of Amy Goodman's interview with Si and Elizabeth on Democracy Now! A legendary activist and a distinguished public philosopher address a timely but complex issue in a way that is accessible and compelling Evaluates privatization not just economically, but in social, political, and human terms Offers principles and practices for creating alternatives to privatization and strengthening the public sector Privatization has been on the right-wing agenda for years, but now it has the power of the Bush administration behind it. Health care, schools, Social Security, public lands, the military, prisons - all are considered fair game. But does privatization really serve the public good? Or is it a payoff to powerful corporations intent on replacing the government with a private profit culture, in which there is no meaningful public accountability and the bottom line rules all? In this powerful book, legendary activist Si Kahn and public philosopher Elizabeth Minnich argue that privatization is a threat whose seriousness few appreciate. Kahn and Minnich expose the damage privatization has done in several specific areas of society, as well as to society as a whole. They argue that corporations are, by their very nature, unable to effectively fulfill what have traditionally been the responsibilities of government. Some things that are worth doing simply cant, indeed shouldnt, be done purely for profit. Unless there is a balance between the public and private sectors, vulnerable populations will be chronically underserved and critical public functions will be under-funded to the point of virtual elimination. Privatization is usually dealt with in dry economic terms, but Kahn and Minnich take an unusual and lively approach to the issue. Combining stories, analysis, impassioned argument, and even song lyrics, they discuss how the concept of privatization has evolved and look at the different forces that work for and against it, emphasizing the extreme anti-government ideology motivating many privatization advocates. And they outline principles and practices for combating privatization and its proponents. The Fox in the Henhouse makes a powerful case that the market is not the measure of all things, and that a vital public sector is an indispensable component of a healthy democracy.

A leading political and business thinker identifies the greatest threat to our economic future: the things we think we know--but don't. In the face of global competition and rapid technological change, our economy is facing its most severe test in nearly a century. Yet our leaders have failed to prepare us for what lies ahead because they are in the grip of a set of "dead ideas" about how a modern economy should work. These ways of thinking--dubious at best and often dead wrong--are on a collision course with irreversible economic developments. Here, Matt Miller offers a blend of business-world acumen and public-policy vision to lay bare how this conventional wisdom holds our country back, and he introduces us to a new way of thinking--what he calls "tomorrow's destined ideas"--that can reinvigorate our economy, our politics, and our day-to-day lives. --From publisher description.

The Cuban Revolution of 1959 was a benchmark of triumph and a harbinger of tragedy to come. Rather than herald a new era of Cuba joining the world community of nations as a paragon of democracy as many fervently hoped and believed it would, it became instead a new stage in authoritarian rule in the Western hemisphere. For more than a half century since then Cuba has been defined by the capacity of a single family to command and determine the fate of a nation--and to do so with a minimum of opposition. Incredibly, even those professing adhesion to democratic norms have been ready to forgive the dictator his excesses. This volume explains the theory and practice of this absence of internal opposition and the persistence of external support for the Castro family and its entourage. "The Long Night of Dark Intent" is chronological in order, with the author indicating major points in each of the five decades covered. The volume covers five centers of system analysis: economics, politics, society, military, and ideology. Who or what "determines" events and decisions is the stuff of real history. It is precisely due to variability in causal chains in society that we have huge variance in levels of predictability. The course of the Cuban Revolution gives strong support for such an approach to the Castro Era. This is a unique, unflinching account with a strong emphasis on the importance of U.S. policy decisions over time.

An emerging spokesperson for a new generation addresses the grim state of young people today--and tells us how we can, and must, save our future. The nature of youth is to question, SO when 24-year-old Kamenetz started out as a journalist, she began asking hard questions for which no one seemed to have good answers. Why were her friends thousands of dollars in credit-card debt? Why did so many jobs for people under thirty-five involve a plastic name badge, last only for the short-term, and not include benefits? With record deficits and threats to Social Security, what kind of future was shaping up for the nation's kids? In this book, she talks to experts in economics, labor markets, the health-care industry, and education, and amasses a startling array of evidence that building a secure life is harder for young people today than it was thirty years ago.--From publisher description.