Taking financial risks is an essential part of what banks do, but there’s no clear sense of what constitutes responsible risk. Taking legal risks seems to have become part of what banks do as well. Since the financial crisis, Congress has passed copious amounts of legislation aimed at curbing banks’ risky behavior. Lawsuits against large banks have cost them billions. Yet bad behavior continues to plague the industry. Why isn’t there more change? In Better Bankers, Better Banks, Claire A. Hill and Richard W. Painter look back at the history of banking and show how the current culture of bad behavior—dramatized by the corrupt, cocaine-snorting bankers of The Wolf of Wall Street—came to be. In the early 1980s, banks went from partnerships whose partners had personal liability to corporations whose managers had no such liability and could take risks with other people’s money. A major reason bankers remain resistant to change, Hill and Painter argue, is that while banks have been faced with large fines, penalties, and legal fees—which have exceeded one hundred billion dollars since the onset of the crisis—the banks (which really means the banks’shareholders) have paid them, not the bankers themselves. The problem also extends well beyond the pursuit of profit to the issue of how success is defined within the banking industry, where highly paid bankers clamor for status and clients may regard as inevitable bankers who prioritize their own self-interest. While many solutions have been proposed, Hill and Painter show that a successful transformation of banker behavior must begin with the bankers themselves. Bankers must be personally liable from their own assets for some portion of the bank’s losses from excessive risk-taking and illegal behavior. This would instill a culture that discourages such behavior and in turn influence the sorts of behavior society celebrates or condemns. Despite many sensible proposals seeking to reign in excessive risk-taking, the continuing trajectory of scandals suggests that we’re far from ready to avert the next crisis. Better Bankers, Better Banks is a refreshing call for bankers to return to the idea that theirs is a noble profession.
A fascinating and authoritative narrative history of the V-22 Osprey, revealing the inside story of the most controversial piece of military hardware ever developed for the United States Marine Corps. When the Marines decided to buy a helicopter-airplane hybrid “tiltrotor” called the V-22 Osprey, they saw it as their dream machine. The tiltrotor was the aviation equivalent of finding the Northwest Passage: an aircraft able to take off, land, and hover with the agility of a helicopter yet fly as fast and as far as an airplane. Many predicted it would reshape civilian aviation. The Marines saw it as key to their very survival. By 2000, the Osprey was nine years late and billions over budget, bedeviled by technological hurdles, business rivalries, and an epic political battle over whether to build it at all. Opponents called it one of the worst boondoggles in Pentagon history. The Marines were eager to put it into service anyway. Then two crashes killed twenty-three Marines. They still refused to abandon the Osprey, even after the Corps’ own proud reputation was tarnished by a national scandal over accusations that a commander had ordered subordinates to lie about the aircraft’s problems. Based on in-depth research and hundreds of interviews, The Dream Machine recounts the Marines’ quarter-century struggle to get the Osprey into combat. Whittle takes the reader from the halls of the Pentagon and Congress to the war zone of Iraq, from the engineer’s drafting table to the cockpits of the civilian and Marine pilots who risked their lives flying the Osprey—and sometimes lost them. He reveals the methods, motives, and obsessions of those who designed, sold, bought, flew, and fought for the tiltrotor. These stories, including never before published eyewitness accounts of the crashes that made the Osprey notorious, not only chronicle an extraordinary chapter in Marine Corps history, but also provide a fascinating look at a machine that could still revolutionize air travel.
Mr. Patterson is a natural storyteller....Fast moving...A handsome job."--The New York Times William Lasko is a self-made millionaire with an eye for wealth and influence, the ear of the president, and a talent for using both to get what he wants. Now the Economic Crime Commission wants Lasko brought down, and US Attorney Christopher Paget is tipped to take on the job.
The financial and economic crisis that began in 2008 is the most alarming of our lifetime because of the warp-speed at which it is occurring. How could it have happened, especially after all that we’ve learned from the Great Depression? Why wasn’t it anticipated so that remedial steps could be taken to avoid or mitigate it? What can be done to reverse a slide into a full-blown depression? Why have the responses to date of the government and the economics profession been so lackluster? Richard Posner presents a concise and non-technical examination of this mother of all financial disasters and of the, as yet, stumbling efforts to cope with it. No previous acquaintance on the part of the reader with macroeconomics or the theory of finance is presupposed. This is a book for intelligent generalists that will interest specialists as well. Among the facts and causes Posner identifies are: excess savings flowing in from Asia and the reckless lowering of interest rates by the Federal Reserve Board; the relation between executive compensation, short-term profit goals, and risky lending; the housing bubble fuelled by low interest rates, aggressive mortgage marketing, and loose regulations; the low savings rate of American people; and the highly leveraged balance sheets of large financial institutions. Posner analyzes the two basic remedial approaches to the crisis, which correspond to the two theories of the cause of the Great Depression: the monetarist—that the Federal Reserve Board allowed the money supply to shrink, thus failing to prevent a disastrous deflation—and the Keynesian—that the depression was the product of a credit binge in the 1920s, a stock-market crash, and the ensuing downward spiral in economic activity. Posner concludes that the pendulum swung too far and that our financial markets need to be more heavily regulated.
This book addresses the problem of treating interior responses of complex electronic enclosures or systems, and presents a probabilistic approach. Relationships for determining the statistics of the driving fields to apply to a circuit analysis code representing part of an enclosed system's writing are worked out. Also addressed are limited spatial and frequency coherence essential to a statistically based field drive model. This text gives examples, different modeling, and describes how to make, interchange, and optimize models.
Get a new perspective from the ‘other half’ of macroeconomics The failure of the vast majority of economists in government, academia and the private sector to predict either the post-2008 Great Recession or the degree of its severity has raised serious credibility issues for the profession. The repeated failures of central banks and other policymakers in all advanced countries to meet their inflation or growth targets in spite of astronomical monetary easing, have left the public rightfully suspicious of the establishment and its economists. The Other Half of Macroeconomics and the Fate of Globalization elucidates what was missing in economics all along and what changes are needed to make the profession relevant to the economic challenges of today. Once the other half of macroeconomics is understood both as a post-bubble phenomenon and as a phase of post-industrial economies, it should be possible for policy makers to devise appropriate measures to overcome difficulties advanced countries are facing today such as stagnation and income inequality. • Shows how it’s possible to devise appropriate policy response to slow wage and productivity growth in these economies • Demonstrates that the effectiveness of monetary and fiscal policy changes as an economy undergoes different stages of development • Argues that tax rules, regulations and even educational system must be revised to match the need of pursued (by emerging nations) countries • Explains the 200-year process of economic development and where that process is taking all of us Inside, Richard C. Koo offers a completely new way of looking at the economic predicament of advanced countries today.
“The leading socialist economist in the country” explores the roots of the Great Recession and its immense impact on working people (Cornel West). While most mainstream commentators view the crisis that provoked the Great Recession as having passed, these essays from Richard Wolff paint a far less rosy picture. Drawing attention to the extreme downturn in most of capitalism’s old centers, the unequal growth in its new centers, and the resurgence of a global speculative bubble, Wolff—in his uniquely accessible style—makes the case that the crisis should be grasped not as a passing moment, but as an evolving stage in capitalism’s history. Praise for Richard Wolff and Democracy at Work “Probably America’s most prominent Marxist economist.” —The New York Times Magazine “Richard Wolff’s constructive and innovative ideas suggest new and promising foundations for much more authentic democracy and sustainable and equitable development, ideas that can be implemented directly and carried forward. A very valuable contribution in troubled times.” —Noam Chomsky “Wolff offers a rich and much-needed corrective to the views of mainstream economists and pundits. It would be difficult to come away from this with anything but an acute appreciation of what is needed to get us out of this mess.” —Stanley Aronowitz “Bold, thoughtful, transformative—a powerful and challenging vision that takes us beyond both corporate capitalism and state socialism. Richard Wolff at his best!” —Gar Alperovitz
Renowned investigative journalist Richard Behar delivers the definitive account of history’s largest—and longest-running—financial fraud, “the scale of the deception…beggars belief” (New York Post). Some $68 billion evaporated during Bernie Madoff’s epic confidence game. Two people were driven to suicide in the wake of the Ponzi Scheme’s exposure. Others went to prison. But there has never been a satisfying accounting for how Bernie got away with so much, for so long. Until now. Richard Behar’s relationship with Madoff began in 2011 with a simple email request from the conman. By the time Madoff died in 2021, he had sent Behar more than 300 emails and dozens of handwritten letters, participated in some fifty phone conversations, and sat for three in-person jailhouse interviews—a level of access provided to no other reporter. Behar also established relationships with hundreds of regulators, prosecutors, FBI agents, investors, Wall Street experts, ex-employees of Madoff’s, family members, school classmates, and others. The result is the final word on the criminal behind history’s most enduring fraud—and on those who believed him, covered for him, or locked him up. Behar illuminates not only the fraud’s origins—decades earlier than Madoff claimed in his confession—but also the complicity of investors, Wall Street insiders, family members, and some of the largest banks in the US and Europe. Shocking, infuriating, riveting (and at times absurdly funny), Madoff shows us how Bernie ensnared thousands of investors. As Behar’s dogged reporting over the last fifteen years makes clear, however, there aren’t many innocents left standing by the end of this tale. Just about everyone involved is guilty, at a minimum, of humanity’s most consistent weakness: greed.
A fresh, comprehensive, and entertaining take on hockey goalies In hockey, goalies have always been a contradiction - solitary men in a team game, the last line of defence and the stalwarts expected to save the day after any and every miscue and collapse from his teammates. It's no wonder that anyone who played the position has had his sanity questioned; yet some of the biggest innovations in the game have come from its puckstoppers. In The Goaltenders' Union, Greg Oliver and Richard Kamchen talk to more than 60 keepers of yesterday and today, finding common threads to their stories, and in dozens of interviews about them with other coaches and players. From Gilles "Gratoony the Loony" Gratton, who refused to play because the moon was out of alignment with Jupiter, to Jonathan Quick, the athletically gifted master keeper of today's game, the book is an entertaining and enlightening peek behind the mask.
Written by veteran financial professional and experienced author Richard Ferri, The ETF Book gives you a broad and deep understanding of this important investment vehicle and provides you with the tools needed to successfully integrate exchange-traded funds into any portfolio. Each chapter of The ETF Book offers concise coverage of various issues and is filled with in-depth insights on different types of ETFs as well as practical advice on how to select and manage them.
Robert Lehman (1891-1969), one of the foremost art collectors of his generation, embraced the work of both traditional and modern masters. This volume catalogues 130 nineteenth- and twentieth-century paintings that are now part of the Robert Lehman Collection at The Metropolitan Museum of Art. The majority of the works are by artists based in France, but there are also examples from the United States, Latin America, and India, reflecting Lehman's global interests. The catalogue opens with outstanding paintings by Ingres, Théodore Rousseau, and Corot, among other early nineteenth-century artists. They are joined by an exemplary selection of Impressionist and Post-Impressionist works by Degas, Renoir, Sisley, Pissarro, Seurat, Signac, Van Gogh, Cézanne, and Gauguin. Twentieth-century masters represented here include Bonnard, Matisse, Rouault, Dalí, and Balthus. There are also newly researched modern works by Vicente do Rego Monteiro, Kees van Dongen, Dietz Edzard, and D.G. Kulkarni (dizi). Robert Lehman's cultivated taste for nineteenth-century French academic practitioners and his intuitive eye for emerging young artists of his own time are documented and discussed. Three hundred comparative illustrations supplement the catalogue entries, as do extensively researched provenance information, exhibition histories, and references. The volume also includes a bibliography and indexes.
The first edition of Corporate Reorganization in Bankruptcy is designed to teach students the legal and financial principles of business bankruptcy law. The casebook is ideal for second- and third-year law students who are considering a career in business bankruptcy specifically. Each chapter is comprised of case excerpts with questions to prompt discussion and analysis, short readings that summarize the relevant rules, doctrines, and financial concepts, and problems requiring students to apply the legal and financial principles learned from hypothetical fact patterns. With an emphasis on the principles of finance, Corporate Reorganization in Bankruptcy examines each of the major types of investors in a business corporation. In addition, it includes a thorough treatment of Section 363 sales, banking and systemic risk. The purchase of this Kindle edition does not entitle you to receive 1-year FREE digital access to the corresponding Examples & Explanations in your course area. In order to receive access to the hypothetical questions complemented by detailed explanations found in the Examples & Explanations, you will need to purchase a new print casebook.
He is not a pro golfer. Nor a successful amateur, or a respected writer on the game. He is not a golf commentator, or a caddie, or a gold guru, or a Dutch sports psychologist, or ageing, golf-playing light entertainer. No: Richard Russell is just an ordinary golfer. An under-achieving member of Sunningdale, whose only claim to fame is that he never, ever wears a sweater – not even in January. He plays of 6, which is the worst handicap anyone can have in golf: too low to win the handicap competition, too high to win the scratch ones. Consequently, his life is one of joint fifteenths and dusty mantelpieces. Part autobiography, part theory, part book of golfing fun, My Baby Got the Yips is unlike any golf book you've ever read. It doesn’t lift the lid on the Ryder Cup. It won’t reveal the man behind the myth, and it doesn’t go behind the scenes at the Majors. This playful memoir of a golfing nobody is concerned with much more interesting and rarely-ponders matters. For example: the best way to throw a golf club; the greatest golfer you've never heard of; the ten most marvellous golfing moments; the champion who became a hacker; the impossibleness of putting; the civilised splendour of the halfway hut, and the secret of golf. As you reach the end, you will conclude that this is a man who feels about golf the way that millions around the world do. Charming, funny and wise, My Baby got the Yips captures the essence of the game and touches everybody who plays it.
In the newly revised fourteenth edition of Financial Accounting Theory and Analysis: Text and Cases, a decorated team of accounting veterans delivers an authoritative exploration of how accounting standards impact the daily decisions of accounting professionals. You'll discover how accounting theory explains why particular companies select particular accounting methods and predicts the attributes of firms by analyzing the accounting methods they employ. The authors examine the latest empirical research relevant to theories of accounting and the uses of accounting information, including the fundamental analysis model, the efficient markets hypothesis, the behavioral finance model, the positive accounting theory model, and more. This latest edition robustly summarizes current disclosure requirements for various financial statement items and reviews the development and current state of accounting theory. It also includes: Discussions of the decline of the movement to adopt international accounting standards in the United States Coverage of the proposed IASB amendment to require reporting on ESG metrics Explorations of recent attempts to promote relevant and practical accounting research in academia Updated analysis exercises for real-world financial statements Analysis of the differences between FASB and IASB accounting standards pertaining to fair value Coverage of the changes related to stock compensation contained in ASU 2021-04 and ASU 2018-07
As one of America's most influential judges, first on New York State's Court of Appeals and then on the U.S. Supreme Court, Cardozo oversaw legal transformation daily. How he arrived at his rulings, with their far-reaching consequences, becomes clear in this book, the first to explore the connections between Cardozo's life and his jurisprudence.
This book was written primarily for all those DTP users and programmers who want to keep up with the rapid development of electronic publishing, particular those who wish to develop new systems for the output of typefaces. In this volume, various formats are presented, their properties discussed and production requirements analyzed. Appendices provide readers additional information, largely on digital formats for typeface storage.
The Penguin Guide to Jazz Recordings is firmly established as the world's leading guide to recorded jazz, a mine of fascinating information and a source of insightful - often wittily trenchant - criticism. This is something rather different: Brian Morton (who taught American history at UEA) has picked out the 1000 best recordings that all jazz fans should have and shows how they tell the history of the music and with it the history of the twentieth century. He has completely revised his and Richard Cook's entries and reassessed each artist's entry for this book. The result is an endlessly browsable companion that will prove required reading for aficionados and jazz novices alike. 'It's the kind of book that you'll yank off the shelf to look up a quick fact and still be reading two hours later' Fortune 'Part jazz history, part jazz Karma Sutra with Cook and Morton as the knowledgeable, urbane, wise and witty guides ... This is one of the great books of recorded jazz; the other guides don't come close' Irish Times
An expose on the delusion, greed, and arrogance that led to America's credit crisis The collapse of America's credit markets in 2008 is quite possibly the biggest financial disaster in U.S. history. Confidence Game: How a Hedge Fund Manager Called Wall Street's Bluff is the story of Bill Ackman's six-year campaign to warn that the $2.5 trillion bond insurance business was a catastrophe waiting to happen. Branded a fraud by the Wall Street Journal and New York Times, and investigated by Eliot Spitzer and the Securities and Exchange Commission, Ackman later made his investors more than $1 billion when bond insurers kicked off the collapse of the credit markets. Unravels the story of the credit crisis through an engaging and human drama Draws on unprecedented access to one of Wall Street's best-known investors Shows how excessive leverage, dangerous financial models, and a blind reliance on triple-A credit ratings sent Wall Street careening toward disaster Confidence Game is a real world "Emperor's New Clothes," a tale of widespread delusion, and one dissenting voice in the era leading up to the worst financial disaster since the Great Depression.
From his early days as a film editor at RKO studios, where he helped Orson Welles shape Citizen Kane, to his success as a director and producer of musical blockbusters of the 1960s, Robert Wise had a long and illustrious film career. Unlike contemporaries such as Alfred Hitchcock, John Ford or Howard Hawks, however, Wise's films lack any clearly discernible characteristics to signify his work. There are few striking camera angles or visual flourishes that might distract from the primary obligation to present the story. And like Hawks, Wise never specialized in one or two genres, but brought his directing skills to all manner of films. His work as a director resists auteur categorization, and that is a chief reason why some critics have been unduly negative in their consideration of his work. In The Films of Robert Wise, Richard Keenan examines the nearly forty features that represent the director's career—from Curse of the Cat People in 1944 to A Storm in Summer (2001), the only television production Wise ever directed. Keenan offers a reappraisal of Wise's films so that the true quality of his work can be better appreciated. Keenan argues that if there was a flaw in Robert Wise as a director, it was that he lacked the ego and temperament of the artist, which was not necessarily a flaw at all. Indeed, Wise was a conscientious craftsman who saw his work not primarily as a vehicle for his own ideas and visual style, but as an opportunity to present narrative that—quite simply—engages, informs, and entertains. It was this perspective that helped produce a number of memorable films over the years, including the gritty noir Born to Kill, the one-two punch of The Set-Up and Somebody Up There Likes Me, the sci-fi prophecy The Day the Earth Stood Still, and the gripping indictment of capital punishment, I Want to Live!—classics all. Wise also won a pair of Oscars for two of the most memorable—not to mention successful—musicals of all time: West Side Story and The Sound of Music. Drawing on more than 30 hours of interviews with Wise—as well as additional interviews with a number of his collaborators—Keenan offers a welcome reassessment of the director's work. In his analysis of each film, Keenan reveals both Wise the craftsman and the artist. In doing so, The Films of Robert Wise finally confers upon this underappreciated director the recognition he deserves.
How short sellers profit from disasters that afflict individuals, markets, and nations The Most Dangerous Trade serves up tales from the dark side of the world marketplace to reveal how traders profit from the failure and, often, the financial ruin of others. In this book Richard Teitelbaum profiles more than a dozen short sellers to reveal how they employ the tactics, strategies, and various styles to zero in on their target, get the needed financing, and see their investment through to its ultimate conclusion. The short sellers profiled will include stories of both their successful investments as well as their disastrous ventures. The book will examine the different styles, strategies, and tactics utilized, looking at how each short seller researches his or her targets, obtains financing, puts on a trade, and sees the investment through to fruition—or failure. With the appeal of a well-written adventure novel, The Most Dangerous Trade reveals how these investors seek publicity to help drive down a stock and shows the often bitter and controversial battles that ensue. Includes profiles of well-know short sellers such as Jim Chanos, Steve Eisman, Manuel Ascencio, Doug Kass, and many more Discover how short sellers make the "puts" that make them billions Uncover the short selling controversies that make headlines Written by award-winning journalist Richard Teitelbaum Discover what motivates investors who wager against the stock market and how they often profit from the misery of others.
Compare global experiences during the balance sheet recession and find out what is needed for a full recovery The Escape from Balance Sheet Recession and the QE Trap details the many hidden dangers remaining as the world slowly recovers from the balance sheet recession of 2008. Author and leading economist Richard Koo explains the unique political and economic pitfalls that stand in the way of recovery from this rare type of recession that was largely overlooked by economists. Koo anticipated the current predicament in the West long before others and issued warnings in his previous books: Balance Sheet Recession and The Holy Grail of Macroeconomics. This new book illustrates how history is repeating itself in Europe while the United States, which learnt from the Japanese experience, is doing better by avoiding the fiscal cliff. However, because of the liberal dosage of quantitative easing already implemented, the United States, the United Kingdom, and Japan may face a treacherous path to normalcy in what Koo calls the QE Trap. He argues that it is necessary to understand balance sheet recession in order to resolve the Eurozone crisis, particularly the competitiveness problems. Koo issues warnings against those who are too ready to argue for structural reforms when the problems are actually with balance sheets. He re-examines Japan's two decades of experiences with this rare recession and offers an insider view on the Abenomics. On China, readers will gain a very different historical perspective as Koo argues that western commentators have forgotten their own history when they talk about the re-balancing of the Chinese economy. Learn from Japan which experienced the same predicament afflicting the West fifteen years earlier Discover how unwinding of quantitative easing will affect the United States, the United Kingdom, Japan, as well as the emerging world Examine solutions to the Eurozone problems caused by two balance sheet recessions eight years apart Gain insight into China's problems from the West's own experiences with urbanisation Koo, who developed the concept of balance sheet recession based on Japan's experience, took the revolution in macroeconomics started by John Maynard Keynes in 1936 to a new height. The Escape from Balance Sheet Recession and the QE Trap offers the world cure for balance sheet recession.
In recent years, the world has been rocked by major economic crises, most notably the devastating collapse of Lehman Brothers, the largest bankruptcy in American history, which triggered the breathtakingly destructive sub-prime disaster. What sparks these vast economic calamities? Why do our economic policy makers fail to protect us from such upheavals? In Wrong, economist Richard Grossman addresses such questions, shining a light on the poor thinking behind nine of the worst economic policy mistakes of the past 200 years, missteps whose outcomes ranged from appalling to tragic. Grossman tells the story behind each misconceived economic move, explaining why the policy was adopted, how it was implemented, and its short- and long-term consequences. In each case, he shows that the main culprits were policy makers who were guided by ideology rather than economics. For instance, Wrong looks at how America's unfounded fear of a centralized monetary authority caused them to reject two central banks, condemning the nation to wave after wave of financial panics. He describes how Britain's blind commitment to free markets, rather than to assisting the starving in Ireland, led to one of the nineteenth century's worst humanitarian tragedies- the Irish famine. And he shows how Britain's reestablishment of the gold standard after World War I, fuelled largely by a desire to recapture its pre-war dominance, helped to turn what would otherwise have been a normal recession into the Great Depression. Grossman also explores the Smoot-Hawley Tariff of 1930, Japan's lost decade of the 1990s, the American subprime crisis, and the present European sovereign debt crisis. Economic policy should be based on cold, hard economic analysis, Grossman concludes, not on an unquestioning commitment to a particular ideology. Wrong shows what happens when this sensible advice is ignored.
When the enemy adopts a policy to attack convoys, truck drivers become front line troops. Convoy commanders must then become tacticians. How to study war? The student of tactics studies previous fights and mentally places himself in the position of the participants. Knowing what they knew, how would he have reacted? In hind sight, what was the best course of action, remembering that there is no one perfect solution? Any number of actions would have succeeded. The tactician must learn what would have worked best for him. For this reason, I have pulled together all the examples of convoy ambushes. The 20th century, Vietnam War, and current war in Iraq provide a wealth of examples of convoy ambushes from which to study. Unfortunately, the US Army did not record many good accounts of ambushes during the Vietnam War. Much of what is presented in this text is based upon oral interviews of the participants, sometimes backed by official record, citations or reports. For this reason, some of the ambush case studies present only the perspective of a crew member of a gun truck or the convoy commander. Since this academic study works best when one mentally takes the place of one of the participants, this view of the ambush serves a useful purpose. After my own review of the ambushes, I have drawn my own conclusion as to what principles apply to convoy ambushes.
Bridges the gap between theoretical and computational aspects of prime numbers Exercise sections are a goldmine of interesting examples, pointers to the literature and potential research projects Authors are well-known and highly-regarded in the field
A contentious debate lingers over whether Franklin Delano Roosevelt turned his back on the Jews of Hitler’s Europe. FDR and the Jews reveals a concerned leader whose efforts on behalf of Jews were far greater than those of any other world figure but whose moral leadership was tempered by the political realities of depression and war.
The world is about to run out of cheap oil and change dramatically. Within the next few years, global production will peak. Thereafter, even if industrial societies begin to switch to alternative energy sources, they will have less net energy each year to do all the work essential to the survival of complex societies. We are entering a new era, as different from the industrial era as the latter was from medieval times. In The Party's Over , Richard Heinberg places this momentous transition in historical context, showing how industrialism arose from the harnessing of fossil fuels, how competition to control access to oil shaped the geopolitics of the 20th century, and how contention for dwindling energy resources in the 21st century will lead to resource wars in the Middle East, Central Asia, and South America. He describes the likely impacts of oil depletion, and all of the energy alternatives. Predicting chaos unless the U.S. -- the world's foremost oil consumer -- is willing to join with other countries to implement a global program of resource conservation and sharing, he also recommends a "managed collapse" that might make way for a slower-paced, low-energy, sustainable society in the future. More readable than other accounts of this issue, with fuller discussion of the context, social implications, and recommendations for personal, community, national, and global action, Heinberg's updated book is a riveting wake-up call for humankind as the oil era winds down, and a critical tool for understanding and influencing current U.S. foreign policy. Listen to an interview with Richard Heinberg from WRPI.
Robert Wagner was New York City's true New Deal mayor, killed Tammany Hall. The world Wagner shaped delivers municipal services efficiently at the cost of local democracy. The story of Wagner's mayoralty will be of interest to anyone who cares about New York City, local democracy and the debate about the legacy of the City's important leaders.
Following up on his timely and well-received book, A Failure of Capitalism, Richard Posner steps back to take a longer view of the continuing crisis of democratic capitalism as the American and world economies crawl gradually back from the depths to which they had fallen in the autumn of 2008 and the winter of 2009. By means of a lucid narrative of the crisis and a series of analytical chapters pinpointing critical issues of economic collapse and gradual recovery, Posner helps non-technical readers understand business-cycle and financial economics, and financial and governmental institutions, practices, and transactions, while maintaining a neutrality impossible for persons professionally committed to one theory or another. He calls for fresh thinking about the business cycle that would build on the original ideas of Keynes. Central to these ideas is that of uncertainty as opposed to risk. Risk can be quantified and measured. Uncertainty cannot, and in this lies the inherent instability of a capitalist economy. As we emerge from the financial earthquake, a deficit aftershock rumbles. It is in reference to that potential aftershock, as well as to the government's stumbling efforts at financial regulatory reform, that Posner raises the question of the adequacy of our democratic institutions to the economic challenges heightened by the greatest economic crisis since the Great Depression. The crisis and the government's energetic response to it have enormously increased the national debt at the same time that structural defects in the American political system may make it impossible to pay down the debt by any means other than inflation or devaluation.
Former subprime lender Richard Bitner once worked in an industry that started out helping disadvantaged customers but collapsed due to greed, lack of financial control and willful ignorance. In Confessions of a Subprime Lender: An Insider's Tale of Greed, Fraud, and Ignorance, he reveals the truth about how the subprime lending business spiraled out of control, pushed home prices to unsustainable levels, and turned unqualified applicants into qualified borrowers through creative financing. Learn about the ways the mortgage industry can be fixed with his twenty suggestions for critical change.
The twelfth edition of this bestselling textbook has been revised and updated to offer Economics students a comprehensive introduction to Economics and its core principles. New case studies and boxed examples, in-depth explanations and an expanded Online Resource Centre will help students to progress with their studies.
A major study of the major and minor fiction, poetry, and children's books of SF and fantasy writer Ursula K. Le Guin. As Le Guin herself writes, "It is written in English, not academese, and will be of interest to a wide spectrum of students, scholars, and interested readers.
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