makers and takers the rise of finance and the fall of american business

Download Book Makers And Takers The Rise Of Finance And The Fall Of American Business in PDF format. You can Read Online Makers And Takers The Rise Of Finance And The Fall Of American Business here in PDF, EPUB, Mobi or Docx formats.

Makers And Takers

Author : Rana Foroohar
ISBN : 9780553447248
Genre : Business & Economics
File Size : 66. 59 MB
Format : PDF, ePub
Download : 508
Read : 382

Download Now


Eight years on from the biggest market meltdown since the Great Depression, the key lessons of the crisis of 2008 still remain unlearned—and our financial system is just as vulnerable as ever. Many of us know that our government failed to fix the banking system after the subprime mortgage crisis. But what few of us realize is how the misguided financial practices and philosophies that nearly toppled the global financial system have come to infiltrate ALL American businesses, putting us on a collision course for another cataclysmic meltdown. Drawing on in-depth reporting and exclusive interviews at the highest rungs of Wall Street and Washington, Time assistant managing editor and economic columnist Rana Foroohar shows how the “financialization of America” - the trend by which finance and its way of thinking have come to reign supreme - is perpetuating Wall Street's reign over Main Street, widening the gap between rich and poor, and threatening the future of the American Dream. Policy makers get caught up in the details of regulating “Too Big To Fail” banks, but the problems in our market system go much broader and deeper than that. Consider that: · Thanks to 40 years of policy changes and bad decisions, only about 15 % of all the money in our market system actually ends up in the real economy – the rest stays within the closed loop of finance itself. · The financial sector takes a quarter of all corporate profits in this country while creating only 4 % of American jobs. · The tax code continues to favor debt over equity, making it easier for companies to hoard cash overseas rather than reinvest it on our shores. · Our biggest and most profitable corporations are investing more money in stock buybacks than in research and innovation. · And, still, the majority of the financial regulations promised after the 2008 meltdown have yet come to pass, thanks to cozy relationship between our lawmakers and the country’s wealthiest financiers. Exploring these forces, which have have led American businesses to favor balancing-sheet engineering over the actual kind and the pursuit of short-term corporate profits over job creation, Foroohar shows how financialization has so gravely harmed our society, and why reversing this trend is of grave importance to us all. Through colorful stories of both "Takers” and "Makers,” she’ll reveal how we change the system for a better and more sustainable shared economic future. — Financial Times - Best Books of 2016: Economics — Bloomberg Businessweek- Best Books of the Year

Makers And Takers

Author : Rana Foroohar
ISBN : 9780553447231
Genre : Business & Economics
File Size : 47. 65 MB
Format : PDF, ePub
Download : 975
Read : 646

Download Now


"Foroohar [posits that] the shortsighted and misguided financial practices that nearly toppled the global economy in 2008 have come to infiltrate all corners of American business--putting us on a dangerous collision course to another economic meltdown that will make 2008 look like a mere blip in the business cycle"--

The Rise And Fall Of American Growth

Author : Robert J. Gordon
ISBN : 9781400873302
Genre : Business & Economics
File Size : 61. 25 MB
Format : PDF, ePub
Download : 409
Read : 1319

Download Now


In the century after the Civil War, an economic revolution improved the American standard of living in ways previously unimaginable. Electric lighting, indoor plumbing, motor vehicles, air travel, and television transformed households and workplaces. But has that era of unprecedented growth come to an end? Weaving together a vivid narrative, historical anecdotes, and economic analysis, The Rise and Fall of American Growth challenges the view that economic growth will continue unabated, and demonstrates that the life-altering scale of innovations between 1870 and 1970 cannot be repeated. Gordon contends that the nation's productivity growth will be further held back by the headwinds of rising inequality, stagnating education, an aging population, and the rising debt of college students and the federal government, and that we must find new solutions. A critical voice in the most pressing debates of our time, The Rise and Fall of American Growth is at once a tribute to a century of radical change and a harbinger of tougher times to come.

Capitalizing On Crisis

Author : Greta R. Krippner
ISBN : 9780674050846
Genre : Business & Economics
File Size : 78. 44 MB
Format : PDF, Kindle
Download : 651
Read : 152

Download Now


Capitalizing on Crisis offers a political sociology of the rise of finance in the U.S. economy over the last three decades. Krippner’s core argument is that successive U.S. administrations embraced policy choices that heightened financialization as a way to escape direct confrontation with the pressing issues of fiscal crisis and legitimation crisis that emerged in the late 1960’s, rather than as a policy goal of its own. This is an extremely important argument for understanding the last forty years of U.S. politics and social development and it helps reconnect economic sociology to political sociology. Krippner focuses on state actions that were crucial to creating a macroenvironment conducive to financialization: (1) the deregulation of financial markets during the 1970s and 1980s; (2) policies that encouraged foreign capital inflows into the U.S. economy in the context of large fiscal imbalances in the early 1980s; and (3) changes in the conduct of monetary policy following the shift to tight monetary policies (high interest rates) in 1979.

The Only Game In Town

Author : Mohamed A. El-Erian
ISBN : 9780812997637
Genre : Business & Economics
File Size : 54. 80 MB
Format : PDF, ePub
Download : 550
Read : 1030

Download Now


NEW YORK TIMES BESTSELLER • A roadmap to what lies ahead and the decisions we must make now to stave off the next global economic and financial crisis, from one of the world’s most influential economic thinkers and the author of When Markets Collide Our current economic path is coming to an end. The signposts are all around us: sluggish growth, rising inequality, stubbornly high pockets of unemployment, and jittery financial markets, to name a few. Soon we will reach a fork in the road: One path leads to renewed growth, prosperity, and financial stability, the other to recession and market disorder. In The Only Game in Town, El-Erian casts his gaze toward the future of the global economy and markets, outlining the choices we face both individually and collectively in an era of economic uncertainty and financial insecurity. Beginning with their response to the 2008 global crisis, El-Erian explains how and why our central banks became the critical policy actors—and, most important, why they cannot continue is this role alone. They saved the financial system from collapse in 2008 and a multiyear economic depression, but lack the tools to enable a return to high inclusive growth and durable financial stability. The time has come for a policy handoff, from a prolonged period of monetary policy experimentation to a strategy that better targets what ails economies and distorts the financial sector—before we stumble into another crisis. The future, critically, is not predestined. It is up to us to decide where we will go from here as households, investors, companies, and governments. Using a mix of insights from economics, finance, and behavioral science, this book gives us the tools we need to properly understand this turning point, prepare for it, and come out of it stronger. A comprehensive, controversial look at the realities of our global economy and markets, The Only Game in Town is required reading for investors, policymakers, and anyone interested in the future. Praise for The Only Game in Town “The one economic book you must read now . . . If you want to understand [our] bifurcated world and where it’s headed, there is no better interpreter than Mohamed El-Erian.”–Time “A grand tour of the challenges we face, along with ideal solutions and more likely outcomes . . . We desperately need a system in which the central banks are no longer the only game in town.”—Steven Rattner, The New York Times Book Review “A must-read from one of the most astute financial analysts of our time.”—Walter Isaacson, author of Steve Jobs “El-Erian’s gift for clarity and his use of compelling examples make important economic issues accessible.”—Anne-Marie Slaughter, president and CEO, New America “[A] highly intelligent analysis.”—Fareed Zakaria, CNN (book of the week)

Money Changes Everything

Author : William N. Goetzmann
ISBN : 9781400881307
Genre : Business & Economics
File Size : 56. 70 MB
Format : PDF, Mobi
Download : 251
Read : 569

Download Now


"[A] magnificent history of money and finance."--New York Times Book Review “Convincingly makes the case that finance is a change-maker of change-makers.”--Financial Times In the aftermath of recent financial crises, it's easy to see finance as a wrecking ball: something that destroys fortunes and jobs, and undermines governments and banks. In Money Changes Everything, leading financial historian William Goetzmann argues the exact opposite—that the development of finance has made the growth of civilizations possible. Goetzmann explains that finance is a time machine, a technology that allows us to move value forward and backward through time; and that this innovation has changed the very way we think about and plan for the future. He shows how finance was present at key moments in history: driving the invention of writing in ancient Mesopotamia, spurring the classical civilizations of Greece and Rome to become great empires, determining the rise and fall of dynasties in imperial China, and underwriting the trade expeditions that led Europeans to the New World. He also demonstrates how the apparatus we associate with a modern economy—stock markets, lines of credit, complex financial products, and international trade—were repeatedly developed, forgotten, and reinvented over the course of human history. Exploring the critical role of finance over the millennia, and around the world, Goetzmann details how wondrous financial technologies and institutions—money, bonds, banks, corporations, and more—have helped urban centers to expand and cultures to flourish. And it's not done reshaping our lives, as Goetzmann considers the challenges we face in the future, such as how to use the power of finance to care for an aging and expanding population. Money Changes Everything presents a fascinating look into the way that finance has steered the course of history.

Makers And Takers

Author : Peter Schweizer
ISBN : 9780385526623
Genre : Political Science
File Size : 30. 15 MB
Format : PDF, Kindle
Download : 703
Read : 359

Download Now


In Makers and Takers you will discover why: * Seventy-one percent of conservatives say you have an obligation to care for a seriously injured spouse or parent versus less than half (46 percent) of liberals. * Conservatives have a better work ethic and are much less likely to call in sick than their liberal counterparts. * Liberals are 2½ times more likely to be resentful of others’ success and 50 percent more likely to be jealous of other people’s good luck. * Liberals are 2 times more likely to say it is okay to cheat the government out of welfare money you don’t deserve. * Conservatives are more likely than liberals to hug their children and “significantly more likely” to display positive nurturing emotions. * Liberals are less trusting of family members and much less likely to stay in touch with their parents. * Do you get satisfaction from putting someone else’s happiness ahead of your own? Fifty-five percent of conservatives said yes versus only 20 percent of liberals. * Rush Limbaugh, Ronald Reagan, Bill O’Reilly and Dick Cheney have given large sums of money to people in need, while Ted Kennedy, Nancy Pelosi, Michael Moore, and Al Gore have not. * Those who are “very liberal” are 3 times more likely than conservatives to throw things when they get angry. The American left prides itself on being superior to conservatives: more generous, less materialistic, more tolerant, more intellectual, and more selfless. For years scholars have constructed—and the media has pushed—elaborate theories designed to demonstrate that conservatives suffer from a host of personality defects and character flaws. According to these supposedly unbiased studies, conservatives are mean-spirited, greedy, selfish malcontents with authoritarian tendencies. Far from the belief of a few cranks, prominent liberals from John Kenneth Galbraith to Hillary Clinton have succumbed to these prejudices. But what do the facts show? Peter Schweizer has dug deep—through tax documents, scholarly data, primary opinion research surveys, and private records—and has discovered that these claims are a myth. Indeed, he shows that many of these claims actually apply more to liberals than conservatives. Much as he did in his bestseller Do as I Say (Not as I Do), he brings to light never-before-revealed facts that will upset conventional wisdom. Conservatives such as Ronald Reagan and Robert Bork have long argued that liberal policies promote social decay. Schweizer, using the latest data and research, exposes how, in general: * Liberals are more self-centered than conservatives. * Conservatives are more generous and charitable than liberals. * Liberals are more envious and less hardworking than conservatives. * Conservatives value truth more than liberals, and are less prone to cheating and lying. * Liberals are more angry than conservatives. * Conservatives are actually more knowledgeable than liberals. * Liberals are more dissatisfied and unhappy than conservatives. Schweizer argues that the failure lies in modern liberal ideas, which foster a self-centered, “if it feels good do it” attitude that leads liberals to outsource their responsibilities to the government and focus instead on themselves and their own desires.

Top Download: