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Levitt and Stephen J.

BizOpinion book review: ‘Rich — The Rise and Fall of American Wealth Culture’ | WisBusiness

Freakonomics is a groundbreaking collaboration between Levitt and Stephen J. Dubner, an award-winning author and journalist. They set out to explore the inner workings of a crack gang, the truth about real estate agents, the secrets of the Ku Klux Klan, and much more.

Why The Inequality Gap Is Growing Between Rich And Poor

Professor Clark addresses the continuing question as to why some nations are rich and others are poor. He proposes that natural selection plays an important role. David Warsh is a columnist in the Boston Globe who explores the evolution of one of the most important ideas in economics of the last few decades. Specifically, he describes in common language how economic theory came to account for the role of knowledge in economic development. Easterly provides a readable critique of the failure of foreign aid, military power, the World Bank, the International Monetary Funds, and the UN to reduce poverty in the least developed countries of the world.

Joseph E. Norton, ISBN An imaginative and, above all, practical vision for a successful and equitable world, Nobel Prize winner Joseph E. Stiglitz's Making Globalization Work draws equally from his academic expertise and his time spent on the ground in dozens of countries around the world. Friedman, a former chair of Harvard's economics department, argues that economic growth is vital to social and political progress. Witness Hitler's Germany. Without growth, people look for answers in intolerance and fear.

And that, Friedman warns, is where the U. It's not enough for gross domestic product to rise, he says. Growth also has to be more evenly distributed. The rich shouldn't be the only ones getting richer. Professor Bhagwati offers a witty and insightful book on the gains from globalization and some of its limitations.

America is an urban nation.

The world's super rich populations are growing but where is growth strongest?

More than two thirds of us live on the 3 percent of land that contains our cities. Yet cities get a bad rap: they're dirty, poor, unhealthy, crime ridden, expensive, environmentally unfriendly Or are they? As Edward Glaeser proves in this myth-shattering book, cities are actually the healthiest, greenest, and richest in cultural and economic terms places to live.

New Yorkers, for instance, live longer than other Americans; heart disease and cancer rates are lower in Gotham than in the nation as a whole. More than half of America's income is earned in twenty-two metropolitan areas. And city dwellers use, on average, 40 percent less energy than suburbanites.

Stiglitz draws on his deep understanding of economics to show that growing inequality is not inevitable: moneyed interests compound their wealth by stifling true, dynamic capitalism. They have made America the most unequal advanced industrial country while crippling growth, trampling on the rule of law, and undermining democracy. The result: a divided society that cannot tackle its most pressing problems.

With characteristic insight, Stiglitz examines our current state, then teases out its implications for democracy, for monetary and budgetary policy, and for globalization. He closes with a plan for a more just and prosperous future.

Free Thought Lives

Robert B. In this eBook exclusive, Robert B. Amy R. Poteete, Marco A.

How do people create systems to address the common property problems that arise in different cultures and with different technologies? Two leading economists describe how psychological factors drive markets. Markets aren't mechanical instruments but rather reflect human emotions and respond to the perceptions of participants. Baker reviews the run up to the housing bubble and the associated economic instability with some early thoughts about reforms.

Shermer explores human nature and its value in understanding economic behavior, an introduction to neuroeconomics. David R. A fourth edition has articles by contributors discussing issues from discrimination to international economics. ISBN Robert L. Heilbroner describes economic ideas from Adam Smith to Karl Marx with a view to understanding how capitalism works.

Banks in those days—forget Wall Street, just a regular commercial bank—would not lend on anything they couldn't physically see. Proving oil reserves in the ground was just a guess. It wasn't until Murchison began working with First National Bank of Dallas, and then Republic Bank of Dallas during the s, that Texas banks—and then national banks—began lending on oil. What were the politics of the Big Rich?

They were serious and stringent early proponents of conservative politics. Often, when business people emerge onto the national stage, like a Buffet or a Gates, it happens gradually. With these four gentlemen, it happened in the blink of an eye. In April , Life Magazine ran a story on H. Hunt, who nobody in America had ever heard of, with the headline "Richest Man in the World," and everybody thought it was an April Fool's joke. Suddenly, the Texas oilmen began putting massive amounts of money into politics.

By and large it was right wing, and by and large it was pretty damn far-right-wing politics. Hugh R. Cullen was actually the largest single donor to American political campaigns in and The second half of the century was generally less kind to the Big Rich.

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Who suffered the most precipitous fall? The Cullens gave most of their money away. The Hunts had the most spectacular fall. Some may remember Bunker and Herbert Hunt's wonderfully harebrained scheme to corner the international silver market in and The behavior of H.

Company Info

A lot of people still on the scene make cameo appearances here, including George H. Bush, George W.

Bush and T. Boone Pickens.

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  • Is the era of the Big Rich still with us? Boone is the last of the great political oilmen. People were listening to his ideas about wind power for about five minutes last year when oil soared. I kind of make the argument, without too hard an edge on it, that the era of the Big Rich is over. The end of the Bush administration really marks the end of Texas political power.

    Those are some of the reasons why social scientists often end up relying on written records about key decisions, but they often are not available until years later.