Why the United States has developed an economy divided between rich and poor—and how racism helped bring this about.The United States is becoming a nation of rich and poor, with few families in the middle. In this book, MIT economist Peter Temin offers an illuminating way to look at the vanishing middle class. Temin argues that American history and politics, particularly slavery and its aftermath, play an important part in the widening gap between rich and poor. Te...

The United States is becoming a nation of rich and poor, with few families in the middle. In this book, MIT economist Peter Temin offers an illuminating way to look at the vanishing middle class.Temin argues that American history and politics, particularly slavery and its aftermath, play an important part in the widening gap between rich and poor. Temin employs a well-known, simple model of a dual economy to examine the dynamics of the rich–poor divide in America and outlines ways ...

Why Keynes is relevant to today's global economic crisis, and how Keynesian ideas can point the way to renewed economic growth.As the global economic crisis continues to cause damage, some policy makers have called for a more Keynesian approach to current economic problems. In this book, the economists Peter Temin and David Vines provide an accessible introduction to Keynesian ideas that connects Keynes's insights to today's global economy and offers readers a way ...

After 1688, Britain underwent a revolution in public finance, and the cost of borrowing declined sharply. Leading scholars have argued that easier credit for the government, made possible by better property-rights protection, lead to a rapid expansion of private credit. The Industrial Revolution, according to this view, is the result of the preceding revolution in public finance. In Prometheus Shackled, prominent economic historians Peter Temin and Hans-Joachim Voth examine this h...

In November 2020, The New York Times asked fifteen of its columnists to 'explain what the past four years have cost America.' Not one of the columnists focused on President Trump's racism. This book seeks to redress this imbalance and bring Black Americans' role in our economy to the forefront. While all humans were created equal, economic history in the United States tells a different story. Reconstruction lasted for only a decade, and Jim Crow laws replaced it. The Civil Rights Movement ...

The culmination of nearly thirty years of reporting on Donald Trump, Pulitzer Prize–winning investigative reporter David Cay Johnston takes a revealingly close look at the mogul’s rise to power and prominence.Covering the long arc of Trump’s career, Johnston tells the full story of how a boy from a quiet section of Queens, New York, would become an entirely new and complex breed of public figure. Trump is a man of great media savvy, entrepreneurial spirit, and political clout. Yet ...

Penguin presents the audiobook editi****on of Crashed by Adam Tooze, read by Simon Vance, with an introduction read by the author.In September 2008 the Great Financial Crisis, triggered by the collapse of Lehman brothers, shook the world. A decade later its spectre still haunts us. As the appalling scope and scale of the crash was revealed, the financial institutions that had symbolised the West's triumph since the end of the Cold War, see...

'A fearless and important book . . . The End of Alchemy isn't just an elegant guide to the history of economic ideas. It also gives a genuine insider's account' TelegraphThe past twenty years saw unprecedented growth and stability followed by the worst financial crisis the industrialised world has ever witnessed. In the space of little more than a year what had been seen as the age of wisdom was viewed as the age of foolishness. Almost overnight, ...

For the past three decades, America has steadily become a nation of haves and have-nots. Our incomes are increasingly unequal. This steady growing apart is often mentioned as a troubling indicator by scholars and policy analysts, though seldom addressed by politicians. What economics Nobelist Paul Krugman terms "the Great Divergence" has till now been treated as little more than a talking point, a rhetorical club to be wielded in ideological battles. But this Great Divergence may be the mo...

'A compelling portrait of early 21st century casino capitalism ... essential reading.' - The TimesOn 13 September 2007, Robert Peston broke the news that Northern Rock had become a victim of the global credit crunch and was seeking an emergency loan from the Bank of England.It was the latest in a long line of scoops by this award-winning journalist. Over the weeks that followed, the Government found itself exposed to the Rock to th...

AlterNet editor Joshua Holland demolishes the Right's biggest and most outrageous myths about the economyTaxes kill growth. Labor unions hurt their members. Government regulation destroys jobs. These are just a few of the biggest lies in the web of misinformation spun by conservatives and the Chamber of Commerce. Holland's book dissects each malicious fiction to show how the Right is just plain wrong on the economy—wrong on jobs, wrong on the deficit, wrong on taxe...

Where Does Money Come From? reveals how, contrary to public perception, the bulk of today's money supply is created and allocated by commercial banks in their role as providers of credit. The authors argue that this system is inherently unstable, with little effective regulation of how much credit is provided, or whether it is used for productive or speculative purposes. Based on detailed research and consultation with experts, including from the Bank of England, Where Does Mo...