In this timely supplement to his incomparable reckoning with the contemporary financial world, Dr. Alan Greenspan presents his views on how the economy has changed since he wrote the #1 New York Times bestseller The Age of Turbulence. Covering the subprime mortgage crisis as well as other national and international issues, this Penguin eSpecial offers a front-line view of the global economy from the man who has worked at its heart longer and with greater effect than any other single living figure.
From the bestselling author of The Map and the Territory and Capitalism in America The Age Of Turbulence is Alan Greenspan’s incomparable reckoning with the contemporary financial world, channeled through his own experiences working in the command room of the global economy longer and with greater effect than any other single living figure. Following the arc of his remarkable life’s journey through his more than eighteen-year tenure as chairman of the Federal Reserve Board to the present, in the second half of The Age of Turbulence Dr. Greenspan embarks on a magnificent tour d’horizon of the global economy. The distillation of a life’s worth of wisdom and insight into an elegant expression of a coherent worldview, The Age of Turbulence will stand as Alan Greenspan’s personal and intellectual legacy.
Like all of us, though few so visibly, Alan Greenspan was forced by the financial crisis of 2008 to question some fundamental assumptions about risk management and economic forecasting. No one with any meaningful role in economic decision making in the world saw beforehand the storm for what it was. How had our models so utterly failed us? To answer this question, Alan Greenspan embarked on a rigorous and far-reaching multiyear examination of how Homo economicus predicts the economic future, and how it can predict it better. Economic risk is a fact of life in every realm, from home to business to government at all levels. Whether we’re conscious of it or not, we make wagers on the future virtually every day, one way or another. Very often, however, we’re steering by out-of-date maps, when we’re not driven by factors entirely beyond our conscious control. The Map and the Territory is nothing less than an effort to update our forecasting conceptual grid. It integrates the history of economic prediction, the new work of behavioral economists, and the fruits of the author’s own remarkable career to offer a thrillingly lucid and empirically based grounding in what we can know about economic forecasting and what we can’t.The book explores how culture is and isn't destiny and probes what we can predict about the world's biggest looming challenges, from debt and the reform of the welfare state to natural disasters in an age of global warming. No map is the territory, but Greenspan’s approach, grounded in his trademark rigor, wisdom, and unprecedented context, ensures that this particular map will assist in safe journeys down many different roads, traveled by individuals, businesses, and the state.
From the legendary former Fed Chairman and the acclaimed Economist writer and historian, the full, epic story of America's evolution from a small patchwork of threadbare colonies to the most powerful engine of wealth and innovation the world has ever seen. Shortlisted for the 2018 Financial Times and McKinsey Business Book of the Year Award From even the start of his fabled career, Alan Greenspan was duly famous for his deep understanding of even the most arcane corners of the American economy, and his restless curiosity to know even more. To the extent possible, he has made a science of understanding how the US economy works almost as a living organism--how it grows and changes, surges and stalls. He has made a particular study of the question of productivity growth, at the heart of which is the riddle of innovation. Where does innovation come from, and how does it spread through a society? And why do some eras see the fruits of innovation spread more democratically, and others, including our own, see the opposite? In Capitalism in America, Greenspan distills a lifetime of grappling with these questions into a thrilling and profound master reckoning with the decisive drivers of the US economy over the course of its history. In partnership with the celebrated Economist journalist and historian Adrian Wooldridge, he unfolds a tale involving vast landscapes, titanic figures, triumphant breakthroughs, enlightenment ideals as well as terrible moral failings. Every crucial debate is here--from the role of slavery in the antebellum Southern economy to the real impact of FDR's New Deal to America's violent mood swings in its openness to global trade and its impact. But to read Capitalism in America is above all to be stirred deeply by the extraordinary productive energies unleashed by millions of ordinary Americans that have driven this country to unprecedented heights of power and prosperity. At heart, the authors argue, America's genius has been its unique tolerance for the effects of creative destruction, the ceaseless churn of the old giving way to the new, driven by new people and new ideas. Often messy and painful, creative destruction has also lifted almost all Americans to standards of living unimaginable to even the wealthiest citizens of the world a few generations past. A sense of justice and human decency demands that those who bear the brunt of the pain of change be protected, but America has always accepted more pain for more gain, and its vaunted rise cannot otherwise be understood, or its challenges faced, without recognizing this legacy. For now, in our time, productivity growth has stalled again, stirring up the populist furies. There's no better moment to apply the lessons of history to the most pressing question we face, that of whether the United States will preserve its preeminence, or see its leadership pass to other, inevitably less democratic powers.
From Pulitzer Prize–winning author and esteemed presidential historian Doris Kearns Goodwin, an invaluable guide to the development and exercise of leadership from Abraham Lincoln, Theodore Roosevelt, Lyndon B. Johnson, and Franklin D. Roosevelt. The inspiration for the multipart HISTORY Channel series Abraham Lincoln and Theodore Roosevelt. “After five decades of magisterial output, Doris Kearns Goodwin leads the league of presidential historians” (USA TODAY). In her “inspiring” (The Christian Science Monitor) Leadership, Doris Kearns Goodwin draws upon the four presidents she has studied most closely—Abraham Lincoln, Theodore Roosevelt, Franklin D. Roosevelt, and Lyndon B. Johnson (in civil rights)—to show how they recognized leadership qualities within themselves and were recognized as leaders by others. By looking back to their first entries into public life, we encounter them at a time when their paths were filled with confusion, fear, and hope. Leadership tells the story of how they all collided with dramatic reversals that disrupted their lives and threatened to shatter forever their ambitions. Nonetheless, they all emerged fitted to confront the contours and dilemmas of their times. At their best, all four were guided by a sense of moral purpose. At moments of great challenge, they were able to summon their talents to enlarge the opportunities and lives of others. Does the leader make the times or do the times make the leader? “If ever our nation needed a short course on presidential leadership, it is now” (The Seattle Times). This seminal work provides an accessible and essential road map for aspiring and established leaders in every field. In today’s polarized world, these stories of authentic leadership in times of apprehension and fracture take on a singular urgency. “Goodwin’s volume deserves much praise—it is insightful, readable, compelling: Her book arrives just in time” (The Boston Globe).
NAMED ONE OF THE BEST BOOKS OF THE YEAR BY People ∙ O: The Oprah Magazine ∙ Financial Times ∙ Kansas City Star ∙ BookPage ∙ Kirkus Reviews ∙ Publishers Weekly ∙ Booklist NEW YORK TIMES BESTSELLER “A stunner.”—Justin Cronin “It’s never the disasters you see coming that finally come to pass—it’s the ones you don’t expect at all,” says Julia, in this spellbinding novel of catastrophe and survival by a superb new writer. Luminous, suspenseful, unforgettable, The Age of Miracles tells the haunting and beautiful story of Julia and her family as they struggle to live in a time of extraordinary change. On an ordinary Saturday in a California suburb, Julia awakes to discover that something has happened to the rotation of the earth. The days and nights are growing longer and longer; gravity is affected; the birds, the tides, human behavior, and cosmic rhythms are thrown into disarray. In a world that seems filled with danger and loss, Julia also must face surprising developments in herself, and in her personal world—divisions widening between her parents, strange behavior by her friends, the pain and vulnerability of first love, a growing sense of isolation, and a surprising, rebellious new strength. With crystalline prose and the indelible magic of a born storyteller, Karen Thompson Walker gives us a breathtaking portrait of people finding ways to go on in an ever-evolving world. “Gripping drama . . . flawlessly written; it could be the most assured debut by an American writer since Jennifer Egan’s Emerald City.”—The Denver Post “Pure magnificence.”—Nathan Englander “Provides solace with its wisdom, compassion, and elegance.”—Curtis Sittenfeld “Riveting, heartbreaking, profoundly moving.”—Kirkus Reviews (starred review) Look for special features inside. Join the Circle for author chats and more.
The Midwest has always been the heart of America-both its economic bellwether and the repository of its national identity. Now, in a new, globalized age, the Midwest is challenged as never before. With an influx of immigrant workers and an outpouring of manufacturing jobs, the region that defines the American self-the Lake Wobegon image of solid, hardworking farmers and factory hands-is changing at breakneck speed. As factory farms and global forces displace old ways of life, the United States is being transformed literally from the inside out. In Caught in the Middle, longtime Chicago Tribune reporter Richard C. Longworth explores the new reality of life in today's heartland and reveals what these changes mean for the region-and the country. Ranging from the manufacturing collapse that has crippled the Midwest to the biofuels revolution that may save it, and from the school districts struggling with new migrants to the Iowa meatpacking town that can't survive without them, Longworth addresses what's right and what's wrong in the region, and offers a prescription for how it must change-politically as well as economically-if it is to survive and prosper.
Karl Polanyi’s The Great Transformation is generally acclaimed as being among the most influential works of economic history in the twentieth century, and remains as vital in the current historical conjuncture as it was in his own. In its critique of nineteenth-century ‘market fundamentalism’ it reads as a warning to our own neoliberal age, and is widely touted as a prophetic guidebook for those who aspire to understand the causes and dynamics of global economic turbulence at the end of the 2000s. Karl Polanyi: The Limits of the Market is the first comprehensive introduction to Polanyi’s ideas and legacy. It assesses not only the texts for which he is famous – prepared during his spells in American academia – but also his journalistic articles written in his first exile in Vienna, and lectures and pamphlets from his second exile, in Britain. It provides a detailed critical analysis of The Great Transformation, but also surveys Polanyi’s seminal writings in economic anthropology, the economic history of ancient and archaic societies, and political and economic theory. Its primary source base includes interviews with Polanyi’s daughter, Kari Polanyi-Levitt, as well as the entire compass of his own published and unpublished writings in English and German. This engaging and accessible introduction to Polanyi’s thinking will appeal to students and scholars across the social sciences, providing a refreshing perspective on the roots of our current economic crisis.
This timely book investigates the experiences of employees at all levels of Boeing Commercial Airplanes (BCA) during a ten-year period of dramatic organizational change. As Boeing transformed itself, workers and managers contended with repeated downsizing, shifting corporate culture, new roles for women, outsourcing, mergers, lean production, and rampant technological change. Drawing on a unique blend of quantitative and qualitative research, the authors consider how management strategies affected the well-being of Boeing employees, as well as their attitudes toward their jobs and their company. Boeing employees’ experience holds vital lessons for other employees, the leaders of other firms determined to thrive in today’s era of inescapable and growing global competition, as well as public officials concerned about the well-being of American workers and companies.
