Modern Economics

The English East India Company was the mother of the modern multinational. Its trading empire encircled the globe, importing Asian luxuries such as spices, textiles, and teas. But it also conquered much of India with its private army and broke open China's markets with opium. The Company's practices shocked its contemporaries and still reverberate today.

Any ambitious proposal - ranging from fixing crumbling infrastructure to Medicare for all or preventing the coming climate apocalypse - inevitably sparks questions: how can we afford it? How can we pay for it? Stephanie Kelton points out how misguided those questions really are by using the bold ideas of modern monetary theory (MMT), a fundamentally different approach to using our resources to maximise our potential as a society.

From the immense staff running a lavish Edwardian estate and the lonely maid-of-all-work cooking in a cramped middle-class house to the poor child doing chores in a slightly less poor household, servants were essential to the British way of life. They were hired not only for their skills but also to demonstrate the social standing of their employers - even as they were required to tread softly and blend into the background. More than simply the laboring class serving the upper crust - as popular culture would have us believe - they were a diverse group that shaped and witnessed major changes in the modern home, family, and social order.

The Austrian economist Ludwig von Mises is increasingly recognized as one of the most important originators of modern economic thought. This book studies his ideas in a clear and systematic way and pulls out from Mises's own writings the main themes of his work. Mises's central theme is an emphasis on microeconomics. All real economic decisions, he insists, are taken by particular people at particular times and places; the motivating forces, therefore, are personal and psychological.

The Number That Killed Us finally tells the "greatest story never told": how a mysterious financial risk measurement model has ruled the world for two decades and how it repeatedly, and severely, caused market, economic, and social turmoil. This model was the key factor behind the unleashing of the cataclysmic credit crisis that erupted in 2007 and which the effects are still being felt around the world.

The Circular Economy: Principles, Philosophies, Science, and Modern Applications is a definitive guide to one of the most urgent and transformative ideas shaping the future of our global economy. Written by Ronald Joseph Legarski, Jr., President and CEO of SolveForce, this book offers a deep, multidisciplinary exploration of how the circular economy can drive sustainable innovation across industries, governments, and societies. Moving beyond traditional "take-make-waste" models, the circular economy envisions a world where materials, energy, and systems are regenerated in continuous, value-...

The world economy defies comprehension. A continuously changing system of immense complexity, it offers over 10 billion distinct products and services, doubles in size every 15 years, and links almost every one of the planet's seven billion people. How can we make sense of this bewildering system on which our lives depend? From the tally stick to Bitcoin, the canal lock to the jumbo jet, each invention in Tim Harford's fascinating new book has its own curious, surprising and memorable story, a vignette against a grand backdrop.

This book stands as one of the most intellectually rigorous and comprehensive examinations of asymmetric warfare available in contemporary strategic literature. Moving beyond simplified tactical approaches, this work develops a sophisticated framework for understanding how conventionally weaker adversaries consistently challenge superior military powers through systematic exploitation of structural vulnerabilities. Drawing from historical case studies while incorporating cutting-edge developments in cognitive warfare, digital operations, and open-source methodologies, the text builds a ...

In this groundbreaking book, celebrated economic historian Joel Mokyr argues that a culture of growth specific to early modern Europe and the European Enlightenment laid the foundations for the scientific advances and pioneering inventions that would instigate explosive technological and economic development.

With a nation seemingly more divided than ever, many worry that Americans risk losing ground on solving the complex, interrelated problems the country faces - including rising inequality, the specter of climate change, astronomical health care costs, and economic stagnation. The renowned economist Jeffrey D. Sachs offers a practical approach to move America toward a new consensus: sustainable development.

The story of the "Lentil Underground" begins on a 280-acre homestead rooted in America's Great Plains: the Oien family farm. Forty years ago, corporate agribusiness told small farmers like the Oiens to "get big or get out." But 27-year-old David Oien decided to take a stand, becoming the first in his conservative Montana county to plant a radically different crop: organic lentils. Unlike the chemically dependent grains American farmers had been told to grow, lentils make their own fertilizer and tolerate variable climates, so their farmers aren't beholden to industrial methods.

Supermarket produce sections bulging with a year-round supply of perfectly round, bright red-orange tomatoes have become all but a national birthright. But in Tomatoland, which is based on his James Beard Award-winning article, The Price of Tomatoes, investigative food journalist Barry Estabrook reveals the huge human and environmental cost of the $5 billion fresh tomato industry. Fields are sprayed with more than one hundred different herbicides and pesticides. Tomatoes are picked hard and green and artificially gassed until their skins acquire a marketable hue.

Based upon the premise that mankind experienced virtually zero economic growth from the dawn of time until 1820, this provocative, big-picture book identifies the four conditions necessary for sustained economic progress - property rights, scientific rationalism, capital markets, and communications and transportation technology - and then analyzes their gradual appearance and impact throughout every corner of the globe.

From the invention of interest in Mesopotamia and the origin of paper money in China, to the creation of mutual funds, inflation-indexed bonds, and global financial securities, here is a sweeping survey of financial innovations that have changed the world. Written by a distinguished group of experts - including Robert Shiller, Niall Ferguson, Valerie Hansen, and many others - The Origins of Value traces the evolution of finance through 4,000 years of history.

This is the story of silver's transformation from soft money during the 19th century to hard asset today, and how manipulations of the white metal by American president Franklin D. Roosevelt during the 1930s and by the richest man in the world, Texas oil baron Nelson Bunker Hunt, during the 1970s altered the course of American and world history. FDR pumped up the price of silver to help jump start the US economy during the Great Depression, but this move weakened China, which was then on the silver standard, and facilitated Japan's rise to power before World War II.

In The Company, the largely unknown history of the joint-stock company is presented by the editors of Economist. One of history's greatest catalysts, the joint-stock company has dramatically changed the way human beings live, work, and conduct business. With companies now affecting the world on a global scale, it is more pressing than ever before to understand this driving force.

Are you struggling to save money for important expenses? Do you find yourself always short of cash and unable to afford the finer things in life? Would you like to be able to start building savings and investments? My name is Dan McMann, and I am a veteran financial advisor with over 16 years of experience working with clients and their children. With this book, you will have all the knowledge and tools you need to get started on the path to financial freedom.

Life sometimes seems illogical. Individuals do strange things: take drugs, have unprotected sex, mug each other. Love seems irrational, and so does divorce. On a larger scale, life seems no fairer or easier to fathom - why do some neighborhoods thrive and others become ghettos? Why is racism so persistent? Why is your idiot boss paid a fortune for sitting behind a mahogany altar? Thorny questions, and you might be surprised to hear the answers coming from an economist.

For a Dollar and a Dream shows how, in an era of stagnant upward mobility, millions of Americans turned to the lottery as their only chance at achieving the American Dream. Gamblers were not the only ones who bet on betting. As voters revolted against higher taxes in the late twentieth century, states saw legalized gambling as a panacea, a way of generating revenue without cutting services or raising taxes. Alongside stories of winners and losers, Jonathan Cohen charts the untold history of the nation's lottery system, revealing how players and policymakers alike got hooked.

One of the most unique aspects of anarchism as a political philosophy is that it seeks to abolish the state. But what exactly is “the state”? The State is like a vast operating system for ordering and controlling relations among human society, the economy, and the natural world, analogous to a digital operating system. Anyone concerned with entrenched power, income inequality, lack of digital privacy, climate change, the response to COVID-19, or military-style policing will find eye-opening insights into how states operate and build more power for themselves—at our expense.