Thursday, 29 October 2015

Making the Modern World: Materials and Dematerialization

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Making the Modern World: Materials and Dematerialization Info

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How much further should the affluent world push its material consumption? Does relative dematerialization lead to absolute decline in demand for materials?  These and many other questions are discussed and answered in Making the Modern World: Materials and Dematerialization.

Over the course of time, the modern world has become dependent on unprecedented flows of materials. Now even the most efficient production processes and the highest practical rates of recycling may not be enough to result in dematerialization rates that would be high enough to negate the rising demand for materials generated by continuing population growth and rising standards of living. This book explores the costs of this dependence and the potential for substantial dematerialization of modern economies. 

Making the Modern World: Materials and Dematerialization considers the principal materials used throughout history, from wood and stone, through to metals, alloys, plastics and silicon, describing their extraction and production as well as their dominant applications. The evolving productivities of material extraction, processing, synthesis, finishing and distribution, and the energy costs and environmental impact of rising material consumption are examined in detail. The book concludes with an outlook for the future, discussing the prospects for dematerialization and potential constrains on materials.

This interdisciplinary text provides useful perspectives for readers with backgrounds including resource economics, environmental studies, energy analysis, mineral geology, industrial organization, manufacturing and material science.

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Wednesday, 28 October 2015

Return to Order: From a Frenzied Economy to an Organic Christian Society--Where We've Been, How We Got Here, and Where We Need to Go

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Return to Order: From a Frenzied Economy to an Organic Christian Society--Where We've Been, How We Got Here, and Where We Need to Go La revue

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In times of crisis, we are forced to re-examine our ways and ponder our future. It is in this framework that we need to consider our present economic plight and the charting of our path forward.

In his penetrating analysis of contemporary society, author John Horvat focuses on the present crisis with great insight and clarity. He claims the modern economy has become cold, impersonal, and out of balance. Gone are the human elements of honor and trust so essential to our daily lives. Society has discarded the natural restraining influence of human institutions and values that should temper our economic activities.

Return to Order is a clarion call that invites us to reconnect with those institutions and values by applying the timeless principles of an organic Christian order. Horvat presents a refreshing picture of this order that is wonderfully adapted to our human nature. He describes the calming influence of those natural regulating institutions such as custom, family, community, the Christian state, and the Church.

A return to order is not only possible, but crucial. Horvat shows us how to make it happen.

Based on nearly 20 years of ground-breaking research, this book is being recognized as one of the most important and influential on the subject to be published in the past 10 years. Its original insight into both the present crisis and remedies for the future thrust Return to Order into the center of the raging debate over how to restore America's prominence as a proud and great nation.

Listen to this dramatic approach to restore America and join the debate about America's Return to Order.

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Snake Oil: How Fracking's False Promise of Plenty Imperils Our Future

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The rapid spread of hydraulic fracturing ("fracking") has temporarily boosted US natural gas and oil production... and sparked a massive environmental backlash in communities across the country. The fossil fuel industry is trying to sell fracking as the biggest energy development of the century, with slick promises of American energy independence and benefits to local economies. SNAKE OIL casts a critical eye on the oil-industry hype that has hijacked America's energy conversation. This is the first book to look at fracking from both economic and environmental perspectives, informed by the most thorough analysis of shale gas and oil drilling data ever undertaken. Is fracking the miracle cure-all to our energy ills, or a costly distraction from the necessary work of reducing our fossil fuel dependence?.

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Peddling Prosperity: Economic Sense and Nonsense in an Age of Diminished Expectations (Norton Paperback)

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Peddling Prosperity: Economic Sense and Nonsense in an Age of Diminished Expectations (Norton Paperback) La revue

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Newsweek hailed Paul Krugman as "a superstar among economists" and went on to praise Peddling Prosperity as "the best primer around on recent U.S. economic history." Others joined the chorus.

This wonderfully received book finds him in top form, observing the years he's dubbed "the age of diminished expectations." The past twenty years have been an era of economic disappointment in the United States. They have also been a time of intense economic debate, as rival ideologies contend for policy influence. But strange things have happened to economic ideas on their way to power: they've been hijacked by policy entrepreneurs―economic snake-oil salesmen, right or left, who offer easy answers to hard problems. Supply-siders rose to power with Ronald Reagan and not only cured nothing but left behind a trillion debt. Krugman finds an unhappy parallel in those who shape policy within the Clinton administration..

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Tuesday, 27 October 2015

Fur, Fortune, and Empire: The Epic History of the Fur Trade in America

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From the best-selling author of Leviathan comes this sweeping narrative of one of America's most historically rich industries. Beginning his epic history in the early 1600s, Eric Jay Dolin traces the dramatic rise and fall of the American fur trade industry, from the first Dutch encounters with the Indians to the rise of the conservation movement in the late 19th century.

Dolin shows how the fur trade, driven by the demands of fashion, sparked controversy, fostered economic competition, and fueled wars among the European powers as North America became a battleground for colonization and imperial aspirations.

The trade in beaver, buffalo, sea otter, and other animal skins spurred the exploration and the settlement of the vast American continent, while it alternately enriched and gravely damaged the lives of America's native peoples.

Populated by a larger-than-life cast, including Dutch governor Peter Stuyvesant, President Thomas Jefferson, America's first millionaire John Jacob Astor, and mountain man Kit Carson, Fur, Fortune, and Empire is the most comprehensive and compelling history of the American fur trade ever written.

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Monday, 26 October 2015

The Making of Modern Economics: First Edition

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The Making of Modern Economics: First Edition La revue

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[MP3CD Audiobook format in vinyl case]

{*FIRST EDITION}

[Read by Patrick Cullen]

This bold new history of economics tells the dramatic story of how the great economic thinkers built a rigorous social science without peer. Unlike other economics histories, Skousen's book provides a running plot with a singular heroic figure, Adam Smith, at the center of the discipline. Skousen unites the great thinkers by ranking them for or against Adam Smith and his system of natural liberty. He shows how Karl Marx, Thorstein Veblen, John Maynard Keynes, and even laissez-faire disciples Robert Malthus and David Ricardo detracted from Adam Smith s classical model of democratic capitalism, while Alfred Marshall, Irving Fisher, Ludwig von Mises, and Milton Friedman, among others, remodeled and improved upon Smithian economics. Highlights include humorous anecdotes and exciting new revelations about the lives of the great economists..

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Friday, 23 October 2015

The First Knowledge Economy: Human Capital and the European Economy, 1750-1850

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The First Knowledge Economy: Human Capital and the European Economy, 1750-1850 La revue

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Ever since the Industrial Revolution debate has raged about the sources of the new, sustained western prosperity. Margaret Jacob here argues persuasively for the critical importance of knowledge in Europe's economic transformation during the period from 1750 to 1850, first in Britain and then in selected parts of northern and western Europe. This is a new history of economic development in which minds, books, lectures and education become central. She shows how, armed with knowledge and know-how and inspired by the desire to get rich, entrepreneurs emerged within an industrial culture wedded to scientific knowledge and technology. She charts how, across a series of industries and nations, innovative engineers and entrepreneurs sought to make sense and a profit out of the world around them. Skilled hands matched minds steeped in the knowledge systems new to the eighteenth century to transform the economic destiny of western Europe..

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Thursday, 22 October 2015

True Wealth: How and Why Millions of Americans Are Creating a Time-Rich,Ecologically Light,Sm all-Scale, High-Satisfaction Economy

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True Wealth: How and Why Millions of Americans Are Creating a Time-Rich,Ecologically Light,Sm all-Scale, High-Satisfaction Economy Info

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A groundbreaking statement about ecological decline, suggesting a radical change in how we think about consumer goods, value, and ways to live.

In True Wealth , economist Juliet B. Schor rejects the sacrifice message, with the insight that social innovations and new technology can simultaneously enhance our lives and protect the planet. Schor shares examples of urban farmers, DIY renovators, and others working outside the conventional market to illuminate the path away from the work-and-spend cycle and toward a new world rich in time, creativity, information, and community.

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Wednesday, 21 October 2015

Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial System--and Themselves

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Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial System--and Themselves Description

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A brilliantly reported true-life thriller that goes behind the scenes of the financial crisis on Wall Street and in Washington.

In one of the most gripping financial narratives in decades, Andrew Ross Sorkin-a New York Times columnist and one of the country's most respected financial reporters-delivers the first definitive blow- by-blow account of the epochal economic crisis that brought the world to the brink. Through unprecedented access to the players involved, he re-creates all the drama and turmoil of these turbulent days, revealing never-before-disclosed details and recounting how, motivated as often by ego and greed as by fear and self-preservation, the most powerful men and women in finance and politics decided the fate of the world's economy..

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Tuesday, 20 October 2015

The Battle for Butte: Mining and Politics on the Northern Frontier, 1864_1906 (Emil and Kathleen Sick Lecture-Book Series in Western History and Biography)

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The Battle for Butte: Mining and Politics on the Northern Frontier, 1864_1906 (Emil and Kathleen Sick Lecture-Book Series in Western History and Biography) Description

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First published in 1981, The Battle for Butte has remained the best treatment of the influence of copper in the political history of Montana. "Fine history: rich in detail, full of finely drawn people, masterfully clear where the subject matter is most complex, constructed to preserve something of the tone and atmosphere of the age."-American Historical Review.

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Left Behind: Latin America and the False Promise of Populism

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The political and economic history of Latin America has been marked by great hopes and even greater disappointments. Despite abundant resources—and a history of productivity and wealth—in recent decades the region has fallen further and further behind developed nations, surpassed even by other developing economies in Southeast Asia and elsewhere.

In Left Behind, Sebastian Edwards explains why the nations of Latin America have failed to share in the fruits of globalization and forcefully highlights the dangers of the recent turn to economic populism in the region. He begins by detailing the many ways Latin American governments have stifled economic development over the years through excessive regulation, currency manipulation, and thoroughgoing corruption. He then turns to the neoliberal reforms of the early 1990s, which called for the elimination of deficits, lowering of trade barriers, and privatization of inefficient public enterprises—and which, Edwards argues, held the promise of freeing Latin America from the burdens of the past. Flawed implementation, however, meant the promised gains of globalization were never felt by the mass of citizens, and growing frustration with stalled progress has led to a resurgence of populism throughout the region, exemplified by the economic policies of Venezuela’sHugo Chávez. But such measures, Edwards warns, are a recipe for disaster; instead, he argues, the way forward for Latin America lies in further market reforms, more honestly pursued and fairly implemented. As an example of the promise of that approach, Edwards points to Latin America's giant, Brazil, which under the successful administration of President Luis Inácio da Silva (Lula) has finally begun to show signs of reaching its true economic potential.

As the global financial crisis has reminded us, the risks posed by failing economies extend far beyond their national borders. Putting Latin America back on a path toward sustained growth is crucial not just for the region but for the world, and Left Behind offers a clear, concise blueprint for the way forward.

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Monday, 19 October 2015

Project Animal Farm: An Accidental Journey into the Secret World of Farming and the Truth About Our Food

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Born out of a global expedition fearlessly undertaken by a young woman, Project Animal Farm offers a riveting and revealing look at what truly happens behind farm doors.

Sonia Faruqi, an Ivy League graduate and investment banker, had no idea that the night she arrived at the doorstep of a dairy farm would mark the beginning of a journey that would ultimately wind all the way around the world. Instead of turning away from the animal cruelty she came to witness, Sonia made the most courageous decision of her life: a commitment to change things.

Driven by impulsive will and searing passion, Sonia left behind everything she knew and loved to search the planet for solutions to benefit animals, human health, and the environment. Over the course of living with farmers, hitchhiking with strangers, and risking her life, she developed surprising insights and solutions―both about the food industry and herself.

Lively and heartfelt, Sonia takes readers on an unforgettable adventure from top-secret egg warehouses in Canada to dairy feedlots in the United States, from farm offices in Mexico to lush pastures in Belize, from flocks of village chickens in Indonesia to factory farms in Malaysia.

Revelatory in scope, Project Animal Farm illuminates a hidden world that plays a part in all of our lives.

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The Perspective of the World: Civilization and Capitalism 15Th-18th Century, Vol. 3

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Volume III investigates what Braudel terms "world-economies"—the economic dominance of a particular city at different periods of history, from Venice to Amsterdam, London, New York.
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Project Animal Farm: An Accidental Journey into the Secret World of Farming and the Truth about Our Food

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Project Animal Farm: An Accidental Journey into the Secret World of Farming and the Truth about Our Food La revue

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Sonia Faruqi, a twenty-five-year-old investment banker, had no idea that the night she arrived at the doorstep of an organic dairy farm would mark the beginning of a journey that would ultimately wind all the way around the world. Instead of turning away from the animal cruelty she would come to witness, Sonia made a commitment to change our current system of food production.Heartfelt and brimming with rare insights, Project Animal Farm takes listeners through a top secret tour of egg warehouses in Canada, dairy feedlots in the United States, lush Mennonite pastures in Belize, and factory farms in Malaysia, illuminating a hidden world that plays a part in all of our lives..

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Monetary Regimes and Inflation: History, Economic and Political Relationships

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Monetary Regimes and Inflation: History, Economic and Political Relationships La revue

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This book explores the characteristics of inflations, comparing historical cases from Roman times up to the modern day. High and moderate inflations caused by the inflationary bias of political systems and economic relationships - and the importance of different monetary regimes in containing them - are analysed. Peter Bernholz demonstrates that certain macroeconomic traits have been stable characteristics of inflations over the centuries, and illustrates their causes: the development of real stock of money, real exchange rate, real budget deficit and of currency substitution. He goes on to explain that metallic monetary regimes allow substantial inflations by debasement - 4th century Roman Empire experiencing the highest of them - but are dwarfed by the experience of hyperinflations. These occurred only under discretionary paper money regimes. To demonstrate this and their characteristics, all twenty-nine hyperinflations are studied. In contrast to the existing literature, the book also examines political conditions that allow a return to stable monetary regimes, given the inflationary tendencies of political systems. Finally, economic measures and institutional reforms to end high and moderate inflations are discussed..

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Sunday, 18 October 2015

Inside the Investments of Warren Buffett: Twenty Cases (Columbia Business School Publishing)

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Since the 1950s, Warren Buffett and his partners have backed some of the twentieth century's most profitable, trendsetting companies. But how did they know they were making the right investments? What did Buffet and his partners look for in an up-and-coming company, and how can others replicate their approach?

A gift to Buffett followers who have long sought a pattern to the investor's success, Inside the Investments of Warren Buffett presents the most detailed analysis to date of Buffet's long-term investment portfolio. Yefei Lu, an experienced investor, starts with Buffett's interest in the Sanborn Map Company in 1958 and tracks nineteen more of his major investments in companies like See's Candies, the Washington Post, GEICO, Coca-Cola, US Air, Wells Fargo, and IBM. Accessing partnership letters, company documents, annual reports, third-party references, and other original sources, Lu pinpoints what is unique about Buffett's timing, instinct, use of outside knowledge, and postinvestment actions, and he identifies what could work well for all investors in companies big and small, domestic and global. His substantial chronology accounts for broader world events and fluctuations in the U.S. stock market, suggesting Buffett's most important trait may be the breadth of his expertise.

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Saturday, 17 October 2015

Monetary Regimes and Inflation : History, Economic and Political Relationships (Hardcover)--by Peter Bernholz [2015 Edition]

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Will be shipped from US. Brand new copy..

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The Ultimate Resource 2

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Arguing that the ultimate resource is the human imagination coupled to the human spirit, Julian Simon led a vigorous challenge to conventional beliefs about scarcity of energy and natural resources, pollution of the environment, the effects of immigration, and the "perils of overpopulation." The comprehensive data, careful quantitative research, and economic logic contained in the first edition of The Ultimate Resource questioned widely held professional judgments about the threat of overpopulation, and Simon's celebrated bet with Paul Ehrlich about resource prices in the 1980s enhanced the public attention--both pro and con--that greeted this controversial book.

Now Princeton University Press presents a revised and expanded edition of The Ultimate Resource. The new volume is thoroughly updated and provides a concise theory for the observed trends: Population growth and increased income put pressure on supplies of resources. This increases prices, which provides opportunity and incentive for innovation. Eventually the innovative responses are so successful that prices end up below what they were before the shortages occurred. The book also tackles timely issues such as the supposed rate of species extinction, the "vanishing farmland crisis," and the wastefulness of coercive recycling.

In Simon's view, the key factor in natural and world economic growth is our capacity for the creation of new ideas and contributions to knowledge. The more people alive who can be trained to help solve the problems that confront us, the faster we can remove obstacles, and the greater the economic inheritance we shall bequeath to our descendants. In conjunction with the size of the educated population, the key constraint on human progress is the nature of the economic-political system: talented people need economic freedom and security to bring their talents to fruition.

Julian L. Simon is the world's greatest contrarian. The Ultimate Resource 2--an update, not a sequel, despite the title--skewers the sacred cows of environmentalism, population control, and Paul Ehrlich. In the contest between resource scarcity and human ingenuity, Simon bets the farm on the ability of intelligent people to overcome their problems. Thankfully, he is not a theorist. This book lays out convincing empirical evidence for Simon's prediction of a prosperous future. The key to progress is not state-run conservation programs, he says, but economic and political freedom. Only then can talented minds properly apply themselves to our earthly dilemmas..

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Friday, 16 October 2015

Collective Courage: A History of African American Cooperative Economic Thought and Practice

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In Collective Courage, Jessica Gordon Nembhard chronicles African American cooperative business ownership and its place in the movements for Black civil rights and economic equality. Not since W. E. B. Du Bois’s 1907 Economic Co-operation Among Negro Americans has there been a full-length, nationwide study of African American cooperatives. Collective Courage extends that story into the twenty-first century. Many of the players are well known in the history of the African American experience: Du Bois, A. Philip Randolph and the Ladies' Auxiliary to the Brotherhood of Sleeping Car Porters, Nannie Helen Burroughs, Fannie Lou Hamer, Ella Jo Baker, George Schuyler and the Young Negroes’ Co-operative League, the Nation of Islam, and the Black Panther Party. Adding the cooperative movement to Black history results in a retelling of the African American experience, with an increased understanding of African American collective economic agency and grassroots economic organizing.

To tell the story, Gordon Nembhard uses a variety of newspapers, period magazines, and journals; co-ops’ articles of incorporation, minutes from annual meetings, newsletters, budgets, and income statements; and scholarly books, memoirs, and biographies. These sources reveal the achievements and challenges of Black co-ops, collective economic action, and social entrepreneurship. Gordon Nembhard finds that African Americans, as well as other people of color and low-income people, have benefitted greatly from cooperative ownership and democratic economic participation throughout the nation’s history.

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When Money Destroys Nations: How Hyperinflation Ruined Zimbabwe, How Ordinary People Survived, and Warnings for Nations that Print Money

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Since the global financial crisis of 2008, the major governments of the world have resorted to printing vast sums of money to pay national debts and bail out banks. The warning signs are clear, and the collapse of the Zimbabwean dollar in 2009 after years of rampant money printing is a frightening example of what lies in store for the world's economies if painful, but necessary, reform is not enacted soon. When Money Destroys Nations tells the gripping story of the disintegration of the once-thriving Zimbabwean economy and how ordinary people survived in turbulent circumstances. Analysing this case within a global context, Philip Haslam and Russell Lamberti investigate the causes of hyperinflation and draw ominous parallels between Zimbabwe and the world's developed economies. The looming currency crises and possible hyperinflation in these major economies, particularly the United States, have the potential to turn the current world order upside down. Zimbabwe's lessons must not be ignored. This is the story of When Money Destroys Nations..

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Thursday, 15 October 2015

The Sustainability Revolution: Portrait of a Paradigm Shift

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Sustainability has become a buzzword in the last decade, but its full meaning is complex, emerging from a range of different sectors. In practice, it has become the springboard for millions of individuals throughout the world who are forging the fastest and most profound social transformation of our time—the sustainability revolution.

The Sustainability Revolution paints a picture of this largely unrecognized phenomenon from the point of view of five major sectors of society:

Community (government and international institutions)
Commerce (business)
Resource extraction (forestry, farming, fisheries etc.)
Ecological design (architecture, technology)
Biosphere (conservation, biodiversity etc.)

The book analyzes sustainability as defined by each of these sectors in terms of the principles, declarations and intentions that have emerged from conferences and publications, and which serve as guidelines for policy decisions and future activities. Common themes are then explored, including:

An emphasis on stewardship
The need for economic restructuring promoting no waste and equitable distribution
An understanding and respect for the principles of nature
The restoration of life forms
An intergenerational perspective on solutions

Concluding that these themes in turn represent a new set of values that define this paradigm shift, The Sustainability Revolution describes innovative sustainable projects and policies in Colombia, Brazil, India and the Netherlands and examines future trends. Complete with a useful resources list, this is the first book of its kind and will appeal to business and government policymakers, academics and all interested in sustainability.

Sustainability has become a buzzword in the last decade, but its full meaning is complex, emerging from a range of different sectors. In practice, it has become the springboard for millions of individuals throughout the world who are forging the fastest and most profound social transformation of our time—the sustainability revolution.

The Sustainability Revolution paints a picture of this largely unrecognized phenomenon from the point of view of five major sectors of society:

Community (government and international institutions)
Commerce (business)
Resource extraction (forestry, farming, fisheries etc.)
Ecological design (architecture, technology)
Biosphere (conservation, biodiversity etc.)

The book analyzes sustainability as defined by each of these sectors in terms of the principles, declarations and intentions that have emerged from conferences and publications, and which serve as guidelines for policy decisions and future activities. Common themes are then explored, including:

An emphasis on stewardship
The need for economic restructuring promoting no waste and equitable distribution
An understanding and respect for the principles of nature
The restoration of life forms
An intergenerational perspective on solutions

Concluding that these themes in turn represent a new set of values that define this paradigm shift, The Sustainability Revolution describes innovative sustainable projects and policies in Colombia, Brazil, India and the Netherlands and examines future trends. Complete with a useful resources list, this is the first book of its kind and will appeal to business and government policymakers, academics and all interested in sustainability.

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The Best Way to Rob a Bank Is to Own One: How Corporate Executives and Politicians Looted the S&L Industry

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In this expert insider's account of the savings and loan debacle of the 1980s, William Black lays bare the strategies that corrupt CEOs and CFOs - in collusion with those who have regulatory oversight of their industries - use to defraud companies for their personal gain. Recounting the investigations he conducted as Director of Litigation for the Federal Home Loan Bank Board, Black fully reveals how Charles Keating and hundreds of other S&L owners took advantage of a weak regulatory environment to perpetrate accounting fraud on a massive scale.

In the new afterword, he also authoritatively links the S&L crash to the business failures of 2008 and beyond, showing how CEOs then and now are using the same tactics to defeat regulatory restraints and commit the same types of destructive fraud.

Black drives home the larger point that control fraud is a major, ongoing threat in business that requires active, independent regulators to contain it. His book is a wake-up call for everyone who believes that market forces alone will keep companies and their owners honest.

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Tuesday, 13 October 2015

The Tyranny of the Federal Reserve

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The Federal Reserve is a leviathan that overshadows the world economy, dominating it, controlling the flow of money, affecting all our lives.

The Federal Reserve Act was passed in 1913 in reaction to the bank runs, bankruptcies and financial chaos caused by the Panic of 1907. The stated purpose of the Act was to create a stable monetary system to bring financial stability to the United States and prevent such economic crises as the Panic of 1907 from occurring again. Sixteen years after the passage of the Act, under the Federal Reserve's watch, the nation experienced the worst financial collapse in our history and descended into our deepest and darkest depression--the Great Depression--a crisis far worse than the Panic of 1907 by orders of magnitude.

Since the creation of the Fed, we have lurched from boom to bust time and again as financial crisis has followed financial crisis. By any objective measure, the Fed has failed to achieve the stated objectives of its founding. Today, our economic imbalances are extreme and compounding and approaching a day of reckoning. Another financial collapse looms and casts a dark shadow over our future. Under the stewardship of the Federal Reserve, further hardship for our struggling middle class is certain and inevitable.

It doesn't have to be this way.

Drawing heavily from the writings and ideas of Benjamin Franklin, Alfred Owen Crozier and Carroll Quigley, "The Tyranny of the Federal Reserve" looks back on how we got here and forward to a brighter future through monetary reform..

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Monday, 12 October 2015

The Darwin Economy: Liberty, Competition, and the Common Good

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Who was the greater economist--Adam Smith or Charles Darwin? The question seems absurd. Darwin, after all, was a naturalist, not an economist. But Robert Frank, New York Times economics columnist and best-selling author of The Economic Naturalist, predicts that within the next century Darwin will unseat Smith as the intellectual founder of economics. The reason, Frank argues, is that Darwin's understanding of competition describes economic reality far more accurately than Smith's. And the consequences of this fact are profound. Indeed, the failure to recognize that we live in Darwin's world rather than Smith's is putting us all at risk by preventing us from seeing that competition alone will not solve our problems.


Smith's theory of the invisible hand, which says that competition channels self-interest for the common good, is probably the most widely cited argument today in favor of unbridled competition--and against regulation, taxation, and even government itself. But what if Smith's idea was almost an exception to the general rule of competition? That's what Frank argues, resting his case on Darwin's insight that individual and group interests often diverge sharply. Far from creating a perfect world, economic competition often leads to "arms races," encouraging behaviors that not only cause enormous harm to the group but also provide no lasting advantages for individuals, since any gains tend to be relative and mutually offsetting.


The good news is that we have the ability to tame the Darwin economy. The best solution is not to prohibit harmful behaviors but to tax them. By doing so, we could make the economic pie larger, eliminate government debt, and provide better public services, all without requiring painful sacrifices from anyone. That's a bold claim, Frank concedes, but it follows directly from logic and evidence that most people already accept.


In a new afterword, Frank further explores how the themes of inequality and competition are driving today's public debate on how much government we need.

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Sunday, 11 October 2015

The Populist Vision

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In the late nineteenth century, monumental technological innovations like the telegraph and steam power made America and the world a much smaller place. New technologies also made possible large-scale organization and centralization. Corporations grew exponentially and the rich amassed great fortunes. Those on the short end of these wrenching changes responded in the Populist revolt, one of the most effective challenges to corporate power in American history.

But what did Populism represent? Half a century ago, scholars such as Richard Hofstadter portrayed the Populist movement as an irrational response of backward-looking farmers to the challenges of modernity. Since then, the romantic notion of Populism as the resistance movement of tradition-based and pre-modern communities to a modern and commercial society has prevailed. In a broad, innovative reassessment, based on a deep reading of archival sources, The Populist Vision argues that the Populists understood themselves as--and were in fact--modern people, who pursued an alternate vision for modern America.

Taking into account both the leaders and the led, The Populist Vision uses a wide lens, focusing on the farmers, both black and white, men and women, while also looking at wager workers and bohemian urbanites. From Texas to the Dakotas, from Georgia to California, farmer Populists strove to use the new innovations for their own ends. They sought scientific and technical knowledge, formed highly centralized organizations, launched large-scale cooperative businesses, and pressed for reforms on the model of the nation's most elaborate bureaucracy - the Postal Service. Hundreds of thousands of Populist farm women sought education, employment in schools and offices, and a more modern life. Miners, railroad workers, and other labor Populists joined with farmers to give impetus to the regulatory state. Activists from Chicago, San Francisco, and other new cities provided Populism with a dynamic urban dimension

This major reassessment of the Populist experience is essential reading for anyone interested in the politics, society, and culture of modern America.In the late nineteenth century, monumental technological innovations like the telegraph and steam power made America and the world a much smaller place. New technologies also made possible large-scale organization and centralization. Corporations grew exponentially and the rich amassed great fortunes. Those on the short end of these wrenching changes responded in the Populist revolt, one of the most effective challenges to corporate power in American history.

But what did Populism represent? Half a century ago, scholars such as Richard Hofstadter portrayed the Populist movement as an irrational response of backward-looking farmers to the challenges of modernity. Since then, the romantic notion of Populism as the resistance movement of tradition-based and pre-modern communities to a modern and commercial society has prevailed. In a broad, innovative reassessment, based on a deep reading of archival sources, The Populist Vision argues that the Populists understood themselves as--and were in fact--modern people, who pursued an alternate vision for modern America.

Taking into account both the leaders and the led, The Populist Vision uses a wide lens, focusing on the farmers, both black and white, men and women, while also looking at wager workers and bohemian urbanites. From Texas to the Dakotas, from Georgia to California, farmer Populists strove to use the new innovations for their own ends. They sought scientific and technical knowledge, formed highly centralized organizations, launched large-scale cooperative businesses, and pressed for reforms on the model of the nation's most elaborate bureaucracy - the Postal Service. Hundreds of thousands of Populist farm women sought education, employment in schools and offices, and a more modern life. Miners, railroad workers, and other labor Populists joined with farmers to give impetus to the regulatory state. Activists from Chicago, San Francisco, and other new cities provided Populism with a dynamic urban dimension

This major reassessment of the Populist experience is essential reading for anyone interested in the politics, society, and culture of modern America..

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