An updated look at what Fischer Black's ideas on business cycles and equilibrium mean todayThroughout his career, Fischer Black described a view of business fluctuations based on the idea that a well-developed economy will be continually in equilibrium. In the essays that constitute this book, which is one of only two books Black ever wrote, he explores this idea thoroughly and reaches some surprising conclusions.With the newfound popularity of quantitative finance and risk...

In this book, Nobel Prize-winning economist Edmund Phelps draws on a lifetime of thinking to make a sweeping new argument about what makes nations prosper--and why the sources of that prosperity are under threat today. Why did prosperity explode in some nations between the 1820s and 1960s, creating not just unprecedented material wealth but "flourishing"--meaningful work, self-expression, and personal growth for more people than ever before? Phelps makes the case that the wellspring of thi...

"I recommend a book by Professor Williams, it is really worth a read, it's called White Working Class." -- Vice President Joe Biden on Pod Save AmericaAn Amazon Best Business and Leadership book of 2017Around the world, populist movements are gaining traction among the white working class. Meanwhile, members of the professional elite—journalists, managers, and establishment politicians--are on the outside looking in, left to argue ...

John Kenneth Galbraith has long been at the center of American economics, in key positions of responsibility during the New Deal, World War II, and since, guiding policy and debate. His trenchant new book distills this lifetime of experience in the public and private sectors; it is a scathing critique of matters as they stand today.Sounding the alarm about the increasing gap between reality and "conventional wisdom" -- a phrase he coined -- Galbraith tells, along with much else, how...

Drowning in student loans? Can’t afford to get married, buy a home, have children? Up to your ears in credit card debt? At last, a book for the under-35 generation that explains why it’s not their fault, and what can be done about it. Strapped offers a groundbreaking look at the new obstacle course facing young adults. Getting ahead, argues commentator and policy maven Tamara Draut, is getting harder. A college degree is the new high school diploma–and costs a fortune to obtain. G...

"Climatopolis documents the thinking of a first-rate economist on one of the most pressing issues of our time" -- NatureWe have released the genie from the bottle: climate change is coming, and there's no stopping it. The question, according to environmental economist Matthew E. Kahn, is not how we're going to avoid a hotter future but how we're going to adapt to it. In Climatopolis, Kahn argues that cities and regions will adapt to rising temperatures ov...

Donald Trump and Bernie Sanders owed much of their unexpected popularity in the 2016 primaries to their respective stances on trade and immigration policy. Political elites and policy experts were bewildered by combative talk of building a wall and the ubiquity of anti-TPP (Trans-Pacific Partnership) sloganeering in what many saw as a bizarre election cycle. They have scrambled to explain both Trump's victory and the new political fault lines that have emerged in both major political parti...

The collection of lectures and publications from the Schumacher Center for a New Economics represents some of the foremost voices on a new economics.David Ehrenfeld examines the consequences of "the extraordinary proliferation of administration, of bureaucracy, of management, the increasing percentage of people in our society who control events but do not themselves produce anything real." He gives examples of management that has become itself a raison d'etre, grown far beyond a si...

We are leaving the Information Age and transitioning into the Shift Age, a time of transformation and change that offers both great risk and incredible opportunity. In Entering the Shift Age, David Houle identifies and explains the dynamics and forces that have shaped our world and will continue to reshape our world for the next 20 years. He shows how the Shift Age means a world fully global yet focused on the individual, where the speed of change is so fast that change itself is the new n...

This book represents an extraordinary journey for me, one that extends over a period of 25 years. After observing several economic boom and bust cycles and researching several more, I have reached an understanding and appreciation of the power and massive influence of these events. Even though each boom and bust cycle is fundamentally different, there are similar themes, factors and cyclical patterns that repeat themselves throughout the bull and bear markets. As one period ends, another s...

Karen Blumenthal, like most people, is mystified by the stock market. Just why is it, she wonders, that seemingly good news can send a stock plummeting and bad news can send it skyrocketing again?In Grande Expectations, she shows how money is made and lost by following one of America’s hottest growth stocks, Starbucks, through a year of rapid store openings, fancy new drinks, and clever promotions, revealing how the many players—big and small investors, company management,...

How do economists reconcile their expertise with their failures to predict and manage the 2008 financial crisis? This book goes a long way toward an answer by using systems theory to reveal the complex interdependence of factors and forces behind the crisis. In her fully integrated view of the economy, how it works, and how the economic crisis burst, Karen Higgins combines human psychology, cultural values, and belief formation with descriptions of the ways banks and markets succeed and fa...