SHORTLISTED FOR THE BBC SAMUEL JOHNSON PRIZE 2010 They were masters of the financial universe, flying in private jets and raking in billions. They thought they were too big to fail. Yet they would bring the world to its knees. Andrew Ross Sorkin, the news-breaking New York Times journalist, delivers the first true in-the-room account of the most powerful men and women at the eye of the financial storm - from reviled Lehman Brothers CEO Dick 'the gorilla' Fuld, to banking whiz Jamie Dimon, from bullish Treasury Secretary Hank Paulson to AIG's Joseph Cassano, dubbed 'The Man Who Crashed the World'. Through unprecedented access to the key players, Sorkin meticulously re-creates frantic phone calls, foul-mouthed rows and white-knuckle panic, as Wall Street fought to save itself.
Includes a new afterword to mark the 10th anniversary of the financial crisis The brilliantly reported New York Times bestseller that goes behind the scenes of the financial crisis on Wall Street and in Washington to give the definitive account of the crisis, the basis for the HBO film “Too Big To Fail is too good to put down. . . . It is the story of the actors in the most extraordinary financial spectacle in 80 years, and it is told brilliantly.” —The Economist 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.
SHORTLISTED FOR THE BBC SAMUEL JOHNSON PRIZE 2010 They were masters of the financial universe, flying in private jets and raking in billions. They thought they were too big to fail. Yet they would bring the world to its knees. Andrew Ross Sorkin, the news-breaking New York Times journalist, delivers the first true in-the-room account of the most powerful men and women at the eye of the financial storm - from reviled Lehman Brothers CEO Dick 'the gorilla' Fuld, to banking whiz Jamie Dimon, from bullish Treasury Secretary Hank Paulson to AIG's Joseph Cassano, dubbed 'The Man Who Crashed the World'. Through unprecedented access to the key players, Sorkin meticulously re-creates frantic phone calls, foul-mouthed rows and white-knuckle panic, as Wall Street fought to save itself.
Includes a new afterword to mark the 10th anniversary of the financial crisis The brilliantly reported New York Times bestseller that goes behind the scenes of the financial crisis on Wall Street and in Washington to give the definitive account of the crisis, the basis for the HBO film “Too Big To Fail is too good to put down. . . . It is the story of the actors in the most extraordinary financial spectacle in 80 years, and it is told brilliantly.” —The Economist 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.
Business Ethics Now 4e by Andrew W. Ghillyer provides assistance to employees by taking a journey through the challenging world of business ethics at the ground level of the organization rather than flying through the abstract concepts and philosophical arguments at the treetop level. By examining issues and scenarios that relate directly to their work environment (and their degree of autonomy in that environment), employees can develop a clearer sense of how their corporate code of ethics relates to operational decisions made on a daily basis.
Energy security has emerged as one of the most important contemporary geopolitical issues. Access to reliable, cheap energy has become essential to the functioning of modern economies but the uneven distribution of energy supplies has led to perceptions of significant Western vulnerability. At the same time, many in the West have become wary of China’s re-emergence as a major power in global politics, with its impact on Western foreign policies and potential threat to Western energy security. This book offers fresh insights into the rise of China as a global superpower and the ways in which its rise is perceived to threaten Western energy security, engaging specifically with how the idea of the China threat has emerged in popular discourse. The author questions how recent US foreign policy has sought to position China as an antagonist to Western energy interests and explores how this image has become the dominant understanding of China by the West. Rather than treating these issues as given, which orthodox approaches tend to do, this book analyses the discursive relationship between US identity, foreign policy and energy security, which leads to a more nuanced and critical understanding of perceptions of China’s potential threat to Western energy security. Filling an important gap in the emerging corpus of research on energy security, this book will be particularly valuable to students and scholars of Politics, International Relations and Chinese Studies.
The New York Times bestseller from CNN Political Commentator and 2020 former Democratic presidential candidate Andrew Yang, this thought-provoking and prescient call-to-action outlines the urgent steps America must take, including Universal Basic Income (UBI), to stabilize our economy amid rapid technological change and automation. The shift toward automation is about to create a tsunami of unemployment. Not in the distant future--now. One recent estimate predicts 45 million American workers will lose their jobs within the next twelve years--jobs that won't be replaced. In a future marked by restlessness and chronic unemployment, what will happen to American society? In The War on Normal People, Andrew Yang paints a dire portrait of the American economy. Rapidly advancing technologies like artificial intelligence, robotics and automation software are making millions of Americans' livelihoods irrelevant. The consequences of these trends are already being felt across our communities in the form of political unrest, drug use, and other social ills. The future looks dire-but is it unavoidable? In The War on Normal People, Yang imagines a different future--one in which having a job is distinct from the capacity to prosper and seek fulfillment. At this vision's core is Universal Basic Income, the concept of providing all citizens with a guaranteed income-and one that is rapidly gaining popularity among forward-thinking politicians and economists. Yang proposes that UBI is an essential step toward a new, more durable kind of economy, one he calls "human capitalism.
From a leading expert on longevity, an urgent call for individuals, institutions, and society to adapt to the reality of living longer lives Thanks to increases in life expectancy, we can now expect to live for a long time. Most of us would welcome an extra day in the week, so why do so many of us view the prospect of additional years with fear and skepticism? The reason is simple: society is not currently structured to support long lives. Rather than thinking in terms of the needs of a rising number of older people, we must instead support the young and middle-aged to prepare differently for the longer futures they can expect. The Longevity Imperative outlines the innovations needed to make the most of these longer lives: substantial changes to our health system, economy, and financial sector, as well as in how we manage our careers, health, finances, and relationships. Instead of seeing longevity as a problem, economist Andrew J. Scott challenges us to view it as an opportunity. This book charts a course to address the individual, social, political, economic, and cultural changes required so that all of us—regardless of age—can live lives that are not just longer but healthier, happier, and more productive.
Inspired by Ayn Rand's characters in Atlas Shrugged and The Fountainhead, penetrating profiles of both the innovators who move our world forward and those who seek to destroy the achievement of others John Galt, the fictional character from Ayn Rand's bestselling novel, Atlas Shrugged, has come to embody the individualist capitalist who acts in his own enlightened self interest, and in doing so lifts the world around him. Some of today's most successful CEOs, journalists, sports figures, actors, and thinkers have led their lives according to Galt's (i.e., Rand's) philosophy. Now, in I Am John Galt, these inspiring stories are gathered with the keen insight and analysis of well-known market commentator Donald Luskin and business writer Andrew Greta. Filled with exclusive interviews, profiles, and analyses of leading financial, business, and artistic stars who have based their lives, and careers, on the philosophy of the perennially popular Ayn Rand, this book both inspires and enlightens. On the other side are Rand's arch villains?the power-seekers, parasites, and lunatics who would destroy that which the creators and builders make. Who are today's anti-heroes, fighting the creativity of the innovators? Contains insightful interviews, profiles, and analyses of the individuals who have lived by a Randian code to achieve greatness for themselves and others Offers a probing analysis of those who seek to destroy or undo the achievements of others?from academics, pundits, and government bureaucrats to fraudsters who have wreaked havoc on our world Engaging and entertaining, I Am John Galt examines how the inspiration that is Galt thrives more than 50 years after publication of Atlas Shrugged. It will spark the interest of Ayn Rand fans everywhere, as well as those seeking a way to succeed in today's turbulent and confusing times.
All systems break down. Some bounce back, others do not. This is a book about why. Covering business, economic, geographic and social systems, Zolli uncovers a wealth of absorbing examples--from the link between US oil prices and the recent 'tortilla riots' in Mexico to what was really happening when the U.S. government decided not to bail out Lehman Bros.
With President George W. Bush's approval ratings at record lows, the 2008 election was a contest that Democrats were predicted to win. And with Barack Obama's victory over John McCain, they did. But it was the highly unlikely journey to this likely destination that set this presidential election apart from others.
Shows how the politics of banking crises has been transformed by the growing 'great expectations' among middle class voters that governments should protect their wealth.
Move past the ESG culture wars and make better choices for your business. Embracing ESG—environmental, social, and governance goals—isn't just the right thing to do. It's good business. Companies that don't address their material long-term risks may save a few dollars today, but they're putting themselves, their stakeholders, and their investors in jeopardy. ESG: The Insights You Need from Harvard Business Review will help you move past the noise and political debates to execute an ESG strategy that best fits your business. You'll discover how to link ESG targets to financial performance, when and how to respond to social issues, and where governance needs to adapt to meet a changing world. Business is changing. Will you adapt or be left behind? Get up to speed and deepen your understanding of the topics that are shaping your company's future with the Insights You Need from Harvard Business Review series. Featuring HBR's smartest thinking on fast-moving issues—blockchain, cybersecurity, AI, and more—each book provides the foundational introduction and practical case studies your organization needs to compete today and collects the best research, interviews, and analysis to get it ready for tomorrow. You can't afford to ignore how these issues will transform the landscape of business and society. The Insights You Need series will help you grasp these critical ideas—and prepare you and your company for the future.
Business leaders have tremendous power to influence our society, how it operates, whether it is fair, and the extent to which it impacts the environment. And yet, we do not recognize or call out the responsibility that comes with that power. This book is meant to challenge future business leaders to think differently about their career, its purpose, and its value as a calling or vocation, one that is in service to society. Its message is for current and prospective business students, business leaders thinking anew about the role of business in society, and the business educators that train all these people. We face great challenges as a society today, from environmental problems like climate change and habitat destruction, to social problems like income inequality, unemployment, lack of a living wage, and poor access to affordable health care and education. Solutions to these challenges must come from the market (as comprised of corporations, the government, and nongovernmental organizations, as well as the many stakeholders in market transaction, such as the consumers, suppliers, buyers, insurance companies, and banks), the most powerful institution on earth, and from business, which is the most powerful entity within it. Though government is an important and vital arbiter of the market, business is the force that transcends national boundaries, possessing resources that exceed those of many nations. Business is responsible for producing the buildings that we live and work in, the food we eat, the clothes we wear, the forms of mobility we employ, and the energy that propels us. This does not mean that only business can generate solutions or that there is no role for government, but with its unmatched powers of ideation, production, and distribution, business is positioned to bring the change we need at the scale we need it. Without business, the solutions will remain elusive. Indeed, if there are no solutions coming from the market, there will be no solutions. And without visionary and service-oriented leaders, business will never even try to find them.
A generation of aspiring business managers has been taught to see a world of difference as a world of opportunity. In Making Global MBAs, Andrew Orta examines the culture of contemporary business education, and the ways MBA programs participate in the production of global capitalism through the education of the business subjects who will be managing it. Based on extensive field research in several leading US business schools, this groundbreaking ethnography exposes what the culture of MBA training says about contemporary understandings of capitalism in the context of globalization. Orta details the rituals of MBA life and the ways MBA curricula cultivate both habits of fast-paced technical competence and “softer” qualities and talents thought to be essential to unlocking the value of international cultural difference while managing its risks. Making Global MBAs provides an essential critique of neoliberal thinking for students and professionals in a wide variety of fields.
This book explores the role of radical ideas in contemporary fiction by nine critically acclaimed authors--Jonathan Lethem, Dana Spiotta, China Mieville, Thomas Pynchon, Rachel Kushner, Teddy Wayne, Colson Whitehead, Jacqueline Woodson, and Kim Stanley Robinson. All of them share interests in the politics of the left, the problems of protracted economic crisis, and the potentiality of post-capitalist ideas. Novels by these authors, this book argues, are defined by an imperative to confront current anxieties in left-thought, while, at the same time, evincing a nuanced degree of self-consciousness about the legacy of political radicalisms, the costs they accrue, and where they have led.
Time magazine named Bono and Bill and Melinda Gates their "Persons of the Year." The United Nations tapped Angelina Jolie as a goodwill ambassador. Bob Geldof organized the Live8 concert to push the G8 leaders' summit on AIDS and debt relief. What has come to be called "celebrity diplomacy" attracts wide media attention, significant money, and top official access around the world. But is this phenomenon just the latest fad? Are celebrities dabbling in an arena that is out of their depth, or are they bringing justified notice to important problems that might otherwise languish on the crowded international diplomatic scene? This book is the first to examine celebrity diplomacy as a serious global project with important implications, both positive and negative. Intended for readers who might not normally read about celebrities, it will also attract audiences often turned off by international affairs. Celebrities bring optimism and "buzz" to issues that seem deep and gloomy. Even if their lofty goals remain elusive, when celebrities speak, other actors in the global system listen.
The public is fascinated with financial crashes. Historians portray the roar of an angry mob toppling presidents or prime ministers and destroying the property of those who are regarded as malefactors. And certainly, financial crisis is often a factor in political change. It is often overlooked, but nonetheless significant that one of the major causes for the French Revolution was the poor state of finances, with the nation coming to bankruptcy. Large systemic financial crises create history. Various actors, big and small, become caught in the drama, contributing to it in their own special way. When Small Countries Crash seeks to capture some of the drama of financial collapses and their impact on small countries, which the authors define as populations under 10 million, generally 5-6 million. MacDonald and Novo have selected countries that have had a financial crisis in the national economy; that included key actors; and where access to reliable data is available. As the authors demonstrate, the story of small countries suffering the costs of financial missteps is long and painful. They argue that smaller economies tend to be more vulnerable to economic shocks, many of which are externally generated. Small economies confront particular challenges in terms of economies of scale, diversification, and depth of expertise and workforce. The chapters in this absorbing book focus on Iceland, Latvia, Ireland, the Caribbean, Scotland, Finland, and Albania. This in-depth study is unique in its close look at financial disasters in countries that have, until now, been overlooked.
Strange and scary days for an ecology movement that was conceived in fierce opposition to power. Fractured, as ever, by divisions and competing agendas, the movement must now confront the dangerous tendency of those in power to invoke nature's laws as a model for social well-being. Partly as a result of ecology's influence, biologism is back, and the spectres of social Darwinism and Malthusian ideas about natural scarcity have begun to reinforce, if not translate in, calls for a reduction in right and freedoms in our civil society. Andrew Ross's The Chicago Gangster Theory of Life questions the evangelical asceticism of much environmentalist thought, and calls for a renewal of the libertarian, post-scarcity tradition. Opening with a stunning essay on the ethnic and socio-economic bases of cultural nationalism in the Pacific Islands, he assesses the continuing historical appeal of ecological romanticism, long associated with Polynesian peoples, and central today to a tourist industry that is the new mode of Third World underdevelopment. Turning to home, he analyzes the 1933 bombing of New York's World Trade Center in the ecological context of urban development that has made the city a capital both of global finance and of new immigrant cultures. In a response to the bombing and environmental terrorism of the Gulf War, Ross goes on to explore the 'ecology of images' that characterized the media's role in that war's carnage and in the mounting collateral damage of the New World Order. A fourth chapter discusses the much-hyped men's movement as a response to debates among eco-feminists. The book concludes with a sweeping critiques of the new world view being ushered in by geneticists and the biotechnology industry, a philosophy of biological determinism that Ross describes as 'the Chicago gangster theory of life.' With his sharp eye for the crucial cultural phenomena of our times, Ross's wry take on the contradictions of green politics is tempered by his commitment to dispel the ecology movement's public image as an anti-libertarian politics that always 'says no', and preaches self-limitation rather than promising social fulfillment. He sees an ecological future of public affluence and not voluntary poverty, a world where nature is a participant in our social plans, and not an authority locking us into some incontrovertible fate.
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