In 1776 the U.S. owed huge sums to foreign creditors and its own citizens but, lacking the power to tax, had no means to repay them. This is the first book to tell the story of how foreign-born financial specialists—the immigrant founders Hamilton and Gallatin—solved the fiscal crisis and set the nation on a path to long-term economic prosperity.

“There is properly no history, only biography,” Emerson remarked, and in this ingenious book Thomas McCraw unfolds the history of four powerful men: Charles Francis Adams, Louis D. Brandeis, James M. Landis, and Alfred E. Kahn. The absorbing stories he tells make this a book that will appeal across a wide spectrum of academic disciplines and to all readers interested in history, biography, and Americana.

What explains the national economic success of the United States, Britain, Germany, and Japan? What can be learned from the long-term championship performances of leading business firms in each country? How important were specific innovations by individual entrepreneurs? And in the end, what is the true nature of capitalist development?The Pulitzer Prize–winning historian Thomas K. McCraw and his coauthors present penetrating answers to these questions. Creating Modern Capitalism ...

Tells the story of how America’s biggest companies began, operated, and prospered post-World War IThis book takes the vantage point of people working within companies as they responded to constant change created by consumers and technology. It focuses on the entrepreneur, the firm, and the industry, by showing—from the inside—how businesses operated after 1920, while offering a good deal of Modern American social and cultural history. The case studies and contextua...

Pan Am, Gimbel’s, Pullman, Douglas Aircraft, Digital Equipment Corporation, British Leyland—all once as strong as dinosaurs, all now just as extinct. Destruction of businesses, fortunes, products, and careers is the price of progress toward a better material life. No one understood this bedrock economic principle better than Joseph A. Schumpeter. “Creative destruction,” he said, is the driving force of capitalism.Described by John Kenneth Galbraith as “the most sophisticated conser...

The Road to Serfdom, F. A. Hayek’s 1944 warning against the dangers of government control, continues to influence politics more than seventy years after it was turned down by three American publishers and finally published by the University of Chicago Press. A classic work in political philosophy, intellectual and cultural history, and economics, the definitive edition of The Road to Serfdom included this essay as its Introduction. Here, acclaimed Hayek biographer and gen...

America is in trouble. We face four major challenges on which our future depends, and we are failing to meet them—and if we delay any longer, soon it will be too late for us to pass along the American dream to future generations.In That Used to Be Us, Thomas L. Friedman, one of our most influential columnists, and Michael Mandelbaum, one of our leading foreign policy thinkers, offer both a wake-up call and a call to collective action. They analyze the four challenges we fac...

New York Times Bestseller • Notable Book of the Year • Editors' Choice SelectionOne of Bill Gates’ “Amazing Books” of the YearOne of Publishers Weekly’s 10 Best Books of the YearLonglisted for the National Book Award for NonfictionAn NPR Best Book of the YearWinner of the Hillman Prize for NonfictionGold Winner • California Book Award (Nonfiction)Finalist • Los Angeles Times Book Prize (History)Final...

History comes alive in this fascinating story of opposing views that continue to play a fundamental role in today's politics and economics. The Big Three in Economics traces the turbulent lives and battle of ideas of the three most influential economists in world history: Adam Smith, representing laissez faire; Karl Marx, reflecting the radical socialist model; and John Maynard Keynes, symbolizing big government and the welfare state.

From the author of Aftershock and The Work of Nations, his most important book to date—a myth-shattering breakdown of how the economic system that helped make America so strong is now failing us, and what it will take to fix it.Perhaps no one is better acquainted with the intersection of economics and politics than Robert B. Reich, and now he reveals how power and influence have created a new American oligarchy, a shrinking middle class, and the greatest income in...

How did America cease to be the land of opportunity?LONGLISTED FOR THE PORCHLIGHT BUSINESS BOOK AWARDWe take it for granted that good neighborhoods—with good schools and good housing—are only accessible to the wealthy. But in America, this wasn’t always the case.Though for most of world history, your prospects were tied to where you were born, Americans came up with a revolutionary idea: If you didn’t like your lot in life, you coul...

Capitalism, its critics say, prioritizes profits over humanity, creates dominant monopolies, and undermines democracy. Zitelmann scrutinizes each of these arguments in turn and reveals the critical flaws that debunk them.Rainer Zitelmann examines the ten most common objections to capitalism: that capitalism leads to hunger and poverty, to rising inequality, to unnecessary consumption, to environmental destruction, to climate change and wars. Capitalism, its critics...