Money Finance Economics

The definitive history of the effect of the income tax on the economy.

You make your money when you buy! That's right, the biggest opportunity to make profits buying businesses or traffic assets is to buy them with the least possible amount of your own personal cash out of pocket. A lot of people think that the most successful deals happen when you sell, but if you can acquire businesses or traffic assets with $0 out of your own pocket, your returns can be almost infinite.

To modern Western society, capitalism is the air we breathe, and most people rarely think to question it, for good or for ill. But knowing what makes capitalism work - and what makes it fail - is crucial to understanding its long-term health and the vast implications for the global economy that go along with it.

In Exile Economics, Ben Chu lays out the dangers of the current obsession with isolationism. By focusing on some key internationally traded commodities - agriculture, energy, metals and high-technology - he demonstrates just how thoroughly enmeshed and almost unfathomably interconnected our economies have become. Exile Economics will be an essential guide to this new world in all its promise and peril.

A thousand years of history and contemporary evidence make one thing clear. Progress is not automatic but depends on the choices we make about technology. New ways of organizing production and communication can either serve the narrow interests of an elite or become the foundation for widespread prosperity.

Two decades into the twenty-first century, the stagnation of living standards has become the defining trend of American life. Life expectancy has declined, economic inequality has soared, and, after some progress, the Black-white wage gap is once again as large as it was in the 1950s. How did this happen in the world’s most powerful country? And what happened to the “American dream”—the promise of a happier, healthier, more prosperous future—which was once such an inextricable part of our national identity?

Too often, textbooks turn the noteworthy details of economics into tedious discourse that would put even Joseph Stiglitz to sleep. Economics 101 cuts out the boring explanations and instead provides a hands-on lesson that keeps you engaged as you explore how societies allocate their resources for maximum benefit. From quantitative easing to marginal utility, this primer is packed with hundreds of entertaining tidbits and concepts that you won't be able to get anywhere else.

Entrepreneur and investor Jason A. Williams is the first author to put bitcoin in context of the 2020 crisis - a year of financial disaster and unprecedented money creation (money printer go brrr!). Hard Money You Can’t F*ck With explains bitcoin in simple, understandable terms and maps out how this "magic internet money" will grow into the best form of money we’ve ever had.

More than 200 million years ago, geological forces split apart the continents. Isolated from each other, the two halves of the world developed radically different suites of plants and animals. When Christopher Columbus set foot in the Americas, he ended that separation at a stroke. Driven by the economic goal of establishing trade with China, he accidentally set off an ecological convulsion as European vessels carried thousands of species to new homes across the oceans.

Consider the $20 bill. It has no more value, as a simple slip of paper, than Monopoly money. Yet even children recognize that tearing one into small pieces is an act of inconceivable stupidity. What makes a $20 bill actually worth $20? In the third volume of his best-selling Naked series, Charles Wheelan uses this seemingly simple question to open the door to the surprisingly colorful world of money and banking.

Capitalism didn’t fail, it was ruined. What went wrong with capitalism? Ruchir Sharma’s account is not like any you will have heard before. He says progressives are right, in part, when they mock modern capitalism as “socialism for the rich.” For a century, governments have expanded in just about every measurable dimension, from spending to regulation and the scale of financial rescues when the economy wobbles. The result is expensive state guarantees for everyone—bailouts for the rich, entitlements for the middle class, welfare for the poor.

In Capitalism, Alone, leading economist Branko Milanovic explains the reasons for this decisive historical shift since the days of feudalism and, later, communism. Surveying the varieties of capitalism, he asks: What are the prospects for a fairer world now that capitalism is the only game in town? His conclusions are sobering, but not fatalistic. Capitalism gets much wrong, but also much right - and it is not going anywhere. Our task is to improve it.

In the age of Brexit and Trump, the West is buffeted by the tides of isolationism and fragmentation. Yet to the East, this is a moment of optimism as a new network of relationships takes shape along the ancient trade routes. In The New Silk Roads, Peter Frankopan takes us on an eye-opening journey through the region, from China's breathtaking infrastructure investments to the flood of trade deals among Central Asian republics to the growing rapprochement between Turkey and Russia.

⚠️ WARNING! ⚠️ THE EVENTS DEPICTED IN IT STARTS WITH GOLD ARE PURELY FICTIONAL. ANY SIMILARITIES TO ACTUAL EVENTS, LIVING OR DEAD, PAST, PRESENT, OR FUTURE, ARE PURELY COINCIDENTAL… OR ARE THEY? YOU DECIDE! "You will own nothing, and they will be happy because they will own everything… including your DNA!" This is not a prediction… this is happening right now as humanity sleeps. Awake or asleep, the most sinister anti-human agenda in history is underway. It does not matter who holds elected office; the final phase is nearing completion. Humanity stands on the brink of ...

“Genius is one percent inspiration and ninety-nine percent perspiration.” This phrase, arguably Thomas Edison’s most famous quote, has been drilled into the minds of generations of Americans. A fairly straightforward iteration of the idea that innovation, discovery, and ingenuity are the result of drive and grit above all, it has also come to represent much darker myths: that hard work always leads to success and that achievement is the product of individuals and not communities.

A landmark work from one of the preeminent historians of our time: the first published biography of Andrew W. Mellon, the American colossus who bestrode the worlds of industry, government, and philanthropy, leaving his transformative stamp on each. Following a boyhood in 19th-century Pittsburgh, during which he learned from his Scotch-Irish immigrant father the lessons of self-sufficiency and wealth accumulation, Andrew Mellon overcame painful shyness to become one of America's greatest financiers.

Why does England lose? Why does Scotland suck? Why doesn't America play the sport internationally... and why do the Germans play with such an efficient but robotic style? Using insights and analogies from economics, statistics, psychology and business to cast a new and entertaining light on how the game works, Soccernomics reveals the often surprisingly counterintuitive truths about soccer.

In Bad Money, Phillips describes the consequences of our misguided economic policies, our mounting debt, our collapsing housing market, our threatened oil, and the end of American domination of world markets. America's current challenges (and failures) run striking parallels to the decline of previous leading world economic powers - especially the Dutch and British.

What drug lords learned from big business. How does a budding cartel boss succeed (and survive) in the $300 billion illegal drug business? By learning from the best, of course. From creating brand value to fine-tuning customer service, the folks running cartels have been attentive students of the strategy and tactics used by corporations such as Walmart, McDonald's, and Coca-Cola.

Even with the economy feeling a little bit better, there is a real fear that markets will stay down and things won't ever get back to normal. But a few brave voices say that this attitude is just too pessimistic.Capitalism has not failed. And it's not time to just give up - on free markets or a better tomorrow. History shows that every time the economy was thought to be done, worn out, finished, it bounced back. The economy is not as fragile as the pessimists think. In fact, things are already improving.