We are a nation born from the conviction that people must be free. But since the middle of the last century, that idea has been co-opted. Forces on the political Right have justified exploitation by cloaking it in the rhetoric of freedom, leading to pharmaceutical companies freely overcharging for medication, a Big Tech free from oversight, politicians free to incite rebellion, corporations free to pollute, and more. How did we get here? Whose freedom are we--and should we--be thinking about? In The Road to Freedom, Nobel prize winner Joseph E. Stiglitz dissects America's current economic system and the political ideology that created it, laying bare their twinned failure. "Free" and unfettered markets have only succeeded in delivering a series of crises: the financial crisis, the opioid crisis, and the crisis of inequality. While a small portion of the population has amassed considerable wealth, wages for most people have stagnated. Free and unfettered markets have exploited consumers, workers, and the environment alike. Such failures have fed populist movements that believe being free means abandoning any obligations citizens have to one another. As they grow in strength, these movements now pose a real threat to true economic and political freedom. As an economic advisor to presidents and as chief economist at the World Bank, Stiglitz has witnessed these profound changes firsthand. As he argues, the failures follow from the elites' unshakeable dedication to "the neoliberal experiment." Explicitly taking on giants such as Friedrich Hayek and Milton Friedman, Stiglitz exposes accepted ideas about our political and economic life for what they are: twisted visions that tear at the social fabric while they enrich the very few. The Road to Freedom breaks new ground, showing how economics--including recent advances in which Stiglitz has played such an important role--reframes how to think about freedom and the role of the state in a twenty-first century society. Drawing on the work of contemporary philosophers, Stiglitz explains a deeper, more humane way to assess freedoms--one that considers with care what to do when one person's freedom conflicts with another's. We must reimagine our existing economic and legal systems and embrace forms of collective action, including regulation and investment, if we are to create an innovative society in which everyone can flourish. The task could not be more urgent, and Stiglitz's latest book is essential reading for those committed to the American ideal of an economic and political system that delivers well-being, opportunity, and meaningful freedoms for all.

From Jeff Pearlman--the New York Times best-selling author of Three Ring Circus--comes the rollicking, outrageous story of the USFL, full of larger-than-life characters and you-can't-make-this-up stories featuring some of the biggest celebrities and buffoons in the game. The United States Football League--known fondly to millions of sports fans as the USFL--did not merely challenge the NFL, but cause its owners and executives to collectively shudder. In its three seasons from 1983-85, it secured multiple television deals, drew millions of fans and launched the careers of legends such as Steve Young, Jim Kelly, Herschel Walker, and Reggie White. But then it died beneath the weight of a particularly egotistical and bombastic team owner--a New York businessman named Donald J. Trump. In Football for a Buck, Jeff Pearlman draws on more than four hundred interviews to unearth all the salty, untold stories of one of the craziest sports entities to have ever captivated America. From 1980s drug excess to airplane brawls and player-coach punch outs, to backroom business deals and some of the most enthralling and revolutionary football ever seen, Pearlman transports readers back in time to this crazy, boozy, audacious, unforgettable era of the game. He shows how fortunes were made and lost on the backs of professional athletes and how, forty years ago, Trump was already a scoundrel and a spoiler. For fans of Terry Pluto's Loose Balls or Jim Bouton's Ball Four and of course Pearlman's own stranger-than-fiction narratives, Football for a Buck is sports as high entertainment--and a cautionary tale of the dangers of ego and excess.

A powerful portrayal of Jeffrey Sachs's ambitious quest to end extreme global poverty, now a Signal paperback. "The poor you will always have with you," according to Matthew 26:11. But Jeffrey Sachs, economics superstar, special advisor to the Secretary General of the UN and the author of The End of Poverty , vehemently disagrees. In his view, poverty -- especially the extreme deprivation of sub-Saharan Africa -- can easily be eradicated. The vast sums spent in foreign aid over the decades has not come close to alleviating the dire subsistence problems of Africans. Sachs believed he knew the reason: the developed world simply hadn't spent enough. In 2006, Sachs, backed by tens of millions of donor dollars, launched the five-year Millennium Villages Project. Sachs would test his theories in villages in different African countries, then, with each success, scale up until until the program was continent-wide. His first village "make-over" was a small community in Sauri, Kenya, and the immediate effect was encouraging. With that first inkling of success achieved, Sachs rolled out a dozen model Millennium villages in ten countries. For the past six years, Nina Munk has reported deeply on the Project, following Sachs on official trips and listening in on conversations with heads of states, rival organisations and potential donors. And she has immersed herself in the lives of people in two of the remote villages: Ruhiira, in southwest Uganda, and Dertu, in the arid borderland between Kenya and Somalia. Accepting hospitality from these camel herders and smallhold farmers, and sharing in their struggles, Munk came to understand the on-the-ground issues challenging Sachs' one-size-fits-all approach to global poverty. The Idealist is the profound and moving story of what happened when the abstract theories of a brilliant, driven man met messy human reality.

â Today, Mr. Minsky's view [of economics] is more relevant than ever.â - The New York Times â Indeed, the Minsky moment has become a fashionable catch phrase on Wall Street.â -The Wall Street Journal John Maynard Keynes offers a timely reconsideration of the work of the revered economics icon. Hyman Minsky argues that what most economists consider Keynesian economics is at odds with the major points of Keynes's The General Theory of Employment, Interest, and Money. Keynes and Minsky refuse to ignore pervasive uncertainty. Once uncertainty is given center stage, recurring episodes of financial system crises are all but inescapable. As Robert Barbera notes in a new preface, â Benign economic circumstancesâ ¦invite increasingly aggressive financial market wagers. Innovation in finance is a signature development in a capitalist economy. Once leveraged wagers are in place, small disappointments can have exaggerated consequences.â Thus for Minsky economic calm on Main Street engenders financial system fragility which, in turn, ensures a perpetuation of boom and bust cycles. Minsky colleagues Dimitri B. Papadimitriou and L. Randall Wray write in a new introduction, â We offer this new edition, in the hope that it will contribute to the reformation of economic theory so that it can address the world in which we actually live-the world that was always the topic of Minsky's analysis.â

Provides a detailed analysis of the DICE model (Dynamic Integrated model of Climate and the Economy) as well as an extensive analysis of the model's results. Coping with the challenges of global warming is a daunting task for both scientists and economists, who must understand future changes, and for policy makers, who must ultimately choose policies to balance risks and costs. Managing the Global Commons presents a unique effort to encompass economic, scientific, and policy aspects of this great geophysical experiment. Managing the Global Commons provides a detailed analysis of the DICE model (Dynamic Integrated model of Climate and the Economy) as well as an extensive analysis of the model's results. DICE is the first dynamic model to include a closed-loop system that includes emissions, concentrations, climate change, damages, and emissions controls. The model is useful for estimating the costs and benefits of different paths for slowing climate change and for analyzing the impact of control strategies over time. The analysis contains a number of methodological advances and major findings - most importantly the construction of a small model to encompass the primary components of the climate and economic system within an optimization framework. Also included are new techniques and results concerning the role of uncertainty and the risk premium involved in policies to slow global warming. In addition, the analysis derives a set of uncertain representative scenarios that summarize the large number of potential outcomes into a manageable number to be used within an optimization framework and incorporated into a contingent-commodity framework. Nordhaus examines several different approaches to climate-change policy: no controls, economic optimization, geoengineering, stabilization of emissions and climate, and a ten-year delay in undertaking climate-change policies. Among these, there is a modest advantage of an efficient policy over no controls or a ten-year delay, while the three stabilization options would impose significant net costs. Overall, Nordhaus observes, the analysis reveals that even with major technological breakthroughs and stringent controls, the momentum of past greenhouse gas emissions coupled with great inertia in climate change policy will lead to an inevitable rendezvous with massive climate change.

Over the past decade, a small group of economists has challenged traditional wisdom about international trade. "Rethinking International Trade provides a coherent account of this research program and traces the key steps in an exciting new trade theory that offers, among other possibilities, new arguments against free trade. Krugman's introduction is a valuable guide to research that has delved anew into the causes of international trade and reopened basic questions about the international pattern of specialization, the effects of protectionism, and what constitutes an optimal trade policy In the four sections that follow, he takes a revisionary look at the causes of international trade, and discusses growth and the role of history, technological change and trade, and strategic trade policy. Essays in part I review and challenge the theories of Ricardo and his successors, rethinking a 160-year tradition of looking at international trade. Models are presented in which trade frequently arises because of opportunities to exploit increasing returns through exports rather than from comparative advantage. In part II, Krugman traces the resulting pattern of trade specialization not only to the influence of comparative advantage but also to more arbitrary factors such as historical events, the rachet effect of cumulative processes, technological changes, and temporary economic shocks. Part III expands on the theme of technological change as a key factor in determining the pattern of specialization in international trade and addresses questions about the effects of innovation, or lack of it, on a country's international trade position. The concluding essays examine the issue of protectionismalong with other elements of trade policy, showing how protectionist policies, used as an export enhancement device by some national governments, may shift world specialization to the advantage of the protectionist nations. Paul R. Krugman is Professor of Economics at MIT.

Where you are in life today is the result of all of the past decisions which you have made or which have been made for you in response to the various situations and events, both expected and unexpected, that have impacted your life. The decisions that you will make from this point forward will determine the degree to which your future will be positive or negative. "Decision Time!" describes the subjective and multi-variable nature of real life decisions and demonstrates techniques for making complex decisions with ease and insight. "Decision Time!" provides guidance for many different decision-making situations with both personal and business aspects. Topics with examples from life include games, negotiation, the challenge of financing a college education, starting a small business, purchasing/shopping, family relationships, getting the government to listen to you, investments, and many more. "Decision Time!" gives you insight into the decision-making process as applied to both small and large choices you will face. It includes dynamic aspects, cultural effects, and morality as applied to decision-making for individuals, teams, and societies. "Decision Time!" prepares you to face the continuous impact of decision situations confidently and without hesitation.

This book sets forth both a theory and a comparative empirical analysis of stagflation, that peculiar combination of high unemployment, slow growth, and spurts of high inflation bedeviling the advanced industrial nations during the past fifteen years. The authors first construct a small macroeconomic model that takes full account of aggregate demand and supply forces in the determination of output, employment, and the price level, in both a single-economy and a multi-economy setting. They then apply the model to provide an understanding of comparative performance of industrial countries in the areas of unemployment, inflation, productivity, and investment growth. They argue convincingly that the decay of the major economies during this period resulted from the supply shocks of the 1970s, such as the two major OPEC oil-price increases, and from the consequent policy-induced decrease in demand in response to inflationary pressures. Their analysis differs markedly from similar studies in that it takes specific account of institutional differences in the labor markets of the various economies. This helps to explain in particular the divergent adjustment profiles of the United States and Europe. Michael Bruno and Jeffrey D. Sachs make several key recommendations for the mix of demand management and incomes policies necessary to combat stagflation in individual countries as well as for the coordination of macroeconomic policies among the major industrial nations.

This book sets forth both a theory and a comparative empirical analysis of stagflation, that peculiar combination of high unemployment, slow growth, and spurts of high inflation bedeviling the advanced industrial nations during the past fifteen years. The authors first construct a small macroeconomic model that takes full account of aggregate demand and supply forces in the determination of output, employment, and the price level, in both a single-economy and a multi-economy setting. They then apply the model to provide an understanding of comparative performance of industrial countries in the areas of unemployment, inflation, productivity, and investment growth. They argue convincingly that the decay of the major economies during this period resulted from the supply shocks of the 1970s, such as the two major OPEC oil-price increases, and from the consequent policy-induced decrease in demand in response to inflationary pressures. Their analysis differs markedly from similar studies in that it takes specific account of institutional differences in the labor markets of the various economies. This helps to explain in particular the divergent adjustment profiles of the United States and Europe. Bruno and Sachs make several key recommendations for the mix of demand management and incomes policies necessary to combat stagflation in individual countries as well as for the coordination of macroeconomic policies among the major industrial nations.