Tag Archives: Economics

In My Hands Today…

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Failed State: Why Nothing Works and How We Fix It – Sam Freedman

It’s harder than ever to get a GP appointment. Burglaries go unpunished. Wages have been stagnant for years, even as the cost of housing rises inexorably. Why is everything going wrong at the same time?

It’s easy to point the finger at dysfunctional or even corrupt politicians. But in reality it’s more complicated. Politicians can make things better or worse, but all work within our state institutions. And ours are irrevocably broken and outmoded.

In Failed State, respected political analyst Sam Freedman offers a devastating analysis of where we’ve gone wrong. Speaking to politicians of all stripes, civil servants, workers on the frontline and key thinkers across the world, this book bursts with insight on the real problems that are so often hidden from the front pages. The result is a witty, landmark book that paves the way for a fairer and more prosperous Britain.
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In My Hands Today…

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How to Feed the World: A Factful Guide – Vaclav Smil

In this ambitious, myth-busting book, leading scientist and internationally bestselling author Vaclav Smil investigates many of the burning questions facing the world

Why are some of the world’s biggest food producers also the countries with the most undernourished populations?

Why is food waste a colossal 1,000kcal per person daily, and how can we solve that?

Could we all go vegan and be healthy? Should we?

How will we feed the ballooning population without killing the planet?

How Food Really Works shows how we misunderstand the essentials of where our food really comes from, how our dietary requirements shape us, and why this impacts our planet in drastic ways. Ultimately, this data-based, rigorously researched guide explains how we will survive and thrive long into the future.

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The Hidden Globe: How Wealth Hacks the World – Atossa Araxia Abrahamian

A globe shows the world we think we neatly delineated sovereign nations that grant or restrict their citizens’ rights. Beneath, above, and tucked inside their borders, however, another universe has been engineered into existence. It consists of thousands of extraterritorial zones that operate largely autonomously, and increasingly for the benefit of the wealthiest individuals and corporations.

Atossa Abrahamian traces the rise of this hidden globe to thirteenth-century Switzerland, where poor cantons marketed their only bodies, in the form of mercenary fighters. Over time, economists, theorists, statesmen, and consultants evolved ever more sophisticated ways of exporting and exploiting statelessness, in the form of free trade zones, flags of convenience, offshore detention centers, charter cities controlled by foreign corporations, and even into outer space. By mapping this countergeography, which decides who wins and who loses in the new global order—and helping us to see how it might be otherwise—The Hidden Globe fascinates, enrages, and inspires.

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Misbehaving: The Making of Behavioral Economics – Richard H. Thaler

Traditional economics assumes rational actors. Early in his research, Thaler realized these Spock-like automatons were nothing like real people. Whether buying a clock radio, selling basketball tickets, or applying for a mortgage, we all succumb to biases and make decisions that deviate from the standards of rationality assumed by economists. In other words, we misbehave. More importantly, our misbehavior has serious consequences. Dismissed at first by economists as an amusing sideshow, the study of human miscalculations and their effects on markets now drives efforts to make better decisions in our lives, our businesses, and our governments.

Coupling recent discoveries in human psychology with a practical understanding of incentives and market behavior, Thaler enlightens readers about how to make smarter decisions in an increasingly mystifying world. He reveals how behavioral economic analysis opens up new ways to look at everything from household finance to assigning faculty offices in a new building, to TV game shows, the NFL draft, and businesses like Uber.

Laced with antic stories of Thaler’s spirited battles with the bastions of traditional economic thinking, Misbehaving is a singular look into profound human foibles. When economics meets psychology, the implications for individuals, managers, and policy makers are both profound and entertaining.

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The Caesars Palace Coup: How a Billionaire Brawl Over the Famous Casino Exposed the Power and Greed of Wall Street – Sujeet Indap, Max Frumes

It was the most brutal corporate restructuring in Wall Street history. The 2015 bankruptcy brawl for the storied casino giant, Caesars Entertainment, pitted brilliant and ruthless private equity legends against the world’s most relentless hedge fund wizards.

In the tradition of Barbarians at the Gate and The Big Short comes the riveting, multi-dimensional poker game between private equity firms and distressed debt hedge funds that played out from the Vegas Strip to Manhattan boardrooms to Chicago courthouses and even, for a moment, the halls of the United States Congress. On one side: relentless financial engineers Marc Rowan, David Sambur, and David Bonderman with their teams at Apollo Global Management and TPG Capital. On the other: superstar distressed debt investors Dave Miller and Ryan Mollett with their cohorts at the likes of Elliott Management, Oaktree Capital, and Appaloosa Management.

The Caesars bankruptcy put a twist on the old-fashioned casino heist. Through a $27 billion leveraged buyout and a dizzying string of financial engineering transactions, Apollo and TPG―in the midst of the post-Great Recession slump―had seemingly snatched every prime asset of the company from creditors, with the notable exception of Caesars Palace. But Caesars’ hedge fund lenders and bondholders had scooped up the company’s paper for nickels and dimes. And with their own armies of lawyers and bankers, they were ready to do everything necessary to take back what they believed was theirs―if they could just stop their own infighting.

These modern financiers now dominate the scene in Corporate America as their fight-to-the-death mentality continues to shock workers, politicians, and broader society―and even each other.

In The Caesars Palace Coup, financial journalists Max Frumes and Sujeet Indap illuminate the brutal tactics of distressed debt mavens―vultures, as they are condemned―in the sale and purchase of even the biggest companies in the world with billions of dollars hanging in the balance.