An unimpeachable classic work in political philosophy, intellectual and cultural history, and economics, The Road to Serfdom has inspired and infuriated politicians, scholars, and general readers for half a century. Originally published in 1944--when Eleanor Roosevelt supported the efforts of Stalin, and Albert Einstein subscribed lock, stock, and barrel to the socialist program--The Road to Serfdom was seen as heretical for its passionate warning against the dangers of state control over the means of production. For F. A. Hayek, the collectivist idea of empowering government with increasing economic control would lead not to a utopia but to the horrors of Nazi Germany and Fascist Italy.

First published by the University of Chicago Press on September 18, 1944, The Road to Serfdom garnered immediate, widespread attention. The first printing of 2,000 copies was exhausted instantly, and within six months more than 30,000 books were sold. In April 1945, Reader's Digest published a condensed version of the book, and soon thereafter the Book-of-the-Month Club distributed this edition to more than 600,000 readers. A perennial best seller, the book has sold 400,000 copies in the United States alone and has been translated into more than twenty languages, along the way becoming one of the most important and influential books of the century.

With this new edition, The Road to Serfdom takes its place in the series The Collected Works of F. A. Hayek. The volume includes a foreword by series editor and leading Hayek scholar Bruce Caldwell explaining the book's origins and publishing history and assessing common misinterpretations of Hayek's thought. Caldwell has also standardized and corrected Hayek's references and added helpful new explanatory notes. Supplemented with an appendix of related materials ranging from prepublication reports on the initial manuscript to forewords to earlier editions by John Chamberlain, Milton Friedman, and Hayek himself, this new edition of The Road to Serfdom will be the definitive version of Hayek's enduring masterwork.

A powerful case for limitarianism--the idea that we should set a maximum on how much resources one individual can appropriate. A must-read!
--Thomas Piketty, bestselling author of Capital in the Twenty-First Century

An original and galvanizing indictment of the world's uber-rich that boldly argues for a cap on wealth from the philosopher who coined the term limitarianism.

How much money is too much? Is it ethical, and democratic, for an individual to amass a limitless amount of wealth, and then spend it however they choose? As democracies weaken, our climate becomes increasingly unpredictable, and inequality worsens, many of us feel that the obvious answer is no - but what can we do about it?

Economist and philosopher Ingrid Robeyns has long written and argued for the principle she calls limitarianism - a common sense (Jia Tolentino) case against extreme wealth which posits that a considered cap on one's individual wealth is an urgent ethnical concern that will ultimately lead to healthier, more democratic societies. In this provocative consideration of extreme wealth accumulation (The New Yorker) Robeyns ignites an urgent debate about wealth and when, how and why to limit it, calling into question the legitimacy of capitalism and neoliberalism and inviting us to a radical reimagining of our world.

This book is the story of The Trump Economic Miracle-and the agenda that will make America great again, again.

In late August 2023, President Donald Trump contacted us to meet with him. It was déjà vu for the two of us, as it reminded us of our first meeting with Trump back in early 2016-the first time he ran for the White House. Trump was proclaiming that we could get to 5 percent growth with the right set of pro-business policy ideas. We were ecstatic that finally someone was frontally assaulting the tyranny of low expectations that sold America short.

When we met with Trump at his office in Bedminster, New Jersey, it was like we were starting right where we left off. He wanted us to help him again in 2020 with the rebuilding job ahead.

Will you help me write a tax plan that is even bigger than Reagan's? he asked.

We looked at each other, grinned, and said: We're in.

As we left that meeting, Steve mentioned on the way out that we knew he could make the American economy great again, because he already had done it once.

No, actually, Steve, he replied, I did it twice. I did it after Obama. And I did it after Covid.

A New York Times Bestseller
The leading thinker and most visible public advocate of modern monetary theory -- the freshest and most important idea about economics in decades -- delivers a radically different, bold, new understanding for how to build a just and prosperous society.
Stephanie Kelton's brilliant exploration of modern monetary theory (MMT) dramatically changes our understanding of how we can best deal with crucial issues ranging from poverty and inequality to creating jobs, expanding health care coverage, climate change, and building resilient infrastructure. Any ambitious proposal, however, inevitably runs into the buzz saw of how to find the money to pay for it, rooted in myths about deficits that are hobbling us as a country.
Kelton busts through the myths that prevent us from taking action: that the federal government should budget like a household, that deficits will harm the next generation, crowd out private investment, and undermine long-term growth, and that entitlements are propelling us toward a grave fiscal crisis.
MMT, as Kelton shows, shifts the terrain from narrow budgetary questions to one of broader economic and social benefits. With its important new ways of understanding money, taxes, and the critical role of deficit spending, MMT redefines how to responsibly use our resources so that we can maximize our potential as a society. MMT gives us the power to imagine a new politics and a new economy and move from a narrative of scarcity to one of opportunity.

An in-depth, authoritative, and timely look at the unprecedented economic war the US and its European allies are waging against Russia after Putin's invasion of Ukraine--written by a veteran journalist with unparalleled access to Western and Russian sources.

Undeterred by eight years of timid US sanctions, Vladimir Putin ordered his full-scale assault on Ukraine on February 24, 2022. In the hours that followed across the world, Western leaders weaponized economic tools to counter an unprecedented land grab by a nuclear-armed power. What followed was an undeniably world-changing financial experiment that risked throwing the world into a devastating recession. The end goal was simple: to sap the strength of Putin's war machine and damage the Russian economy--once the eleventh largest on the planet. Here, Russian expert and veteran journalist Stephanie Baker explains in fascinating detail how this furious shadow-war unfolded: its causes, how it is being executed, and its ability to affect Russia and the course of history.

From seizing superyachts to manipulating the global price of oil to trying to block the sale of military technology to Russia, we learn how the White House coordinated with top officials in London and Brussels to freeze a staggering $300 billion in foreign currency reserves accumulated in the West by Russia's central bank. Mobilizing an army of white collar-crime investigators and experts on international law, Baker explores how the West has cracked down on illicit Russian money by targeting oligarchs, one superyacht at a time, and their enablers around the world.

Filled with propulsive, fly-on-the-wall details, Punishing Putin takes us into the frantic backroom deliberations that led to a whole new era of carefully calculated economic statecraft and shows how these new strategies are already radically rearranging global alliances that will influence the world order today, and for generations to come.

With a foreword by Angela Garbes

From the president of the Economic Security Project, a book that shows how a just future is around the corner, if we are ready to seize it

The Guarantee asks us to imagine an America where housing, health care, a college education, dignified work, family care, an inheritance, and an income floor are not only attainable by all but guaranteed, by our government, for everyone.

But isn't this pie-in-the-sky thinking? Not by a long shot, as this provocative new book reveals. As it stands, our current economic system is chock full of government-backed guarantees, from bailouts to bankruptcy protection, to keep the private sector in business. So why can't the same be true for the rest of us?

Author Natalie Foster, co-founder of the Economic Security Project, has had a front-row seat to the dramatic leaps forward in government guarantees over the past decade, from student debt relief to the child tax credit expansion. Her brilliantly sketched vision for a new Guarantee Framework is rooted in real life experiences, collaborations with some of today's most important activists and visionaries, and a concrete sense of the policies that are possible--and ready to implement--in twenty-first-century America.

The Guarantee is the rare book that will shift the terms of debate, moving us from the expired and defunct assumptions of no-guardrails capitalism to a nation that works for all of its people.

NOW IN PAPERBACK The book the American Prospect calls an essential resource for future reformers on how not to govern, by America's leading defender of the public interest and a bestselling historian

An essential read for those who want to fight the assault on public goods and the commons. --Naomi Klein

A sweeping exposé of the ways in which private interests strip public goods of their power and diminish democracy, the hardcover edition of The Privatization of Everything elicited a wide spectrum of praise: Kirkus Reviews hailed it as a strong, economics-based argument for restoring the boundaries between public goods and private gains, Literary Hub featured the book on a Best Nonfiction list, calling it a far-reaching, comprehensible, and necessary book, and Publishers Weekly dubbed it a persuasive takedown of the idea that the private sector knows best.

From Diane Ravitch (an important new book about the dangers of privatization) to Heather McGhee (a well-researched call to action), the rave reviews mirror the expansive nature of the book itself, covering the impact of privatization on every aspect of our lives, from water and trash collection to the justice system and the military. Cohen and Mikaelian also demonstrate how citizens can--and are--wresting back what is ours: A Montana city took back its water infrastructure after finding that they could do it better and cheaper. Colorado towns fought back well-funded campaigns to preserve telecom monopolies and hamstring public broadband. A motivated lawyer fought all the way to the Supreme Court after the state of Georgia erected privatized paywalls around its legal code.

Enlightening and sobering (Rosanne Cash), The Privatization of Everything connects the dots across a wide range of issues and offers what Cash calls a progressive voice with a firm eye on justice [that] can carefully parse out complex issues for those of us who take pride in citizenship.

The book the American Prospect calls an essential resource for future reformers on how not to govern, by America's leading defender of the public interest and a bestselling historian

An essential read for those who want to fight the assault on public goods and the commons. --Naomi Klein

A sweeping exposé of the ways in which private interests strip public goods of their power and diminish democracy, The Privatization of Everything has elicited a wide spectrum of praise: Kirkus Reviews hailed it as a strong, economics-based argument for restoring the boundaries between public goods and private gains, Literary Hub featured the book on a Best Nonfiction list, calling it a far-reaching, comprehensible, and necessary book, and Publishers Weekly dubbed it a persuasive takedown of the idea that the private sector knows best.

From Diane Ravitch (an important new book about the dangers of privatization) to Heather McGhee (a well-researched call to action), the rave reviews mirror the expansive nature of the book itself, covering the impact of privatization on every aspect of our lives, from water and trash collection to the justice system and the military. Cohen and Mikaelian also demonstrate how citizens can--and are--wresting back what is ours: A Montana city took back its water infrastructure after finding that they could do it better and cheaper. Colorado towns fought back well-funded campaigns to preserve telecom monopolies and hamstring public broadband. A motivated lawyer fought all the way to the Supreme Court after the state of Georgia erected privatized paywalls around its legal code.

Enlightening and sobering (Rosanne Cash), The Privatization of Everything connects the dots across a wide range of issues and offers what Cash calls a progressive voice with a firm eye on justice [that] can carefully parse out complex issues for those of us who take pride in citizenship.

In the post-meltdown world, it is irresponsible, ineffective, and ultimately useless to have a serious economic debate without considering and challenging the role of the Federal Reserve.

Most people think of the Fed as an indispensable institution without which the country's economy could not properly function. But in End the Fed, Ron Paul draws on American history, economics, and fascinating stories from his own long political life to argue that the Fed is both corrupt and unconstitutional. It is inflating currency today at nearly a Weimar or Zimbabwe level, a practice that threatens to put us into an inflationary depression where $100 bills are worthless. What most people don't realize is that the Fed -- created by the Morgans and Rockefellers at a private club off the coast of Georgia -- is actually working against their own personal interests. Congressman Paul's urgent appeal to all citizens and officials tells us where we went wrong and what we need to do fix America's economic policy for future generations.

An accessible introduction to the simple (yet radical) premise that a small cash income, sufficient for basic needs, ought to be provided regularly and unconditionally to every citizen.

The growing movement for universal basic income (UBI) has been gaining attention from politics and the media with the audacious idea of a regular, unconditional cash grant for everyone as a right of citizenship. This volume in the Essential Knowledge series presents the first short, solid UBI introduction that is neither academic nor polemic. It takes a position in favor of UBI, but its primary goal remains the provision of essential knowledge by answering the fundamental questions about it: What is UBI? How does it work? What are the arguments for and against it? What is the evidence?

Karl Widerquist discusses how UBI functions, showing how it differs from other redistributional approaches. He summarizes the common arguments for and against UBI and presents the reasons for believing it is a tremendously important reform. The book briefly discusses the likely cost of UBI; options for paying for it; the existing evidence on the probable effects of UBI; and the history of UBI from its inception more than two hundred years ago through the two waves of support it received in the twentieth century to the third and largest wave of support it is experiencing now. Now more than ever, conditions in much of the world are ripe for such enthusiasm to keep growing, and there are good reasons to believe that this current wave of support will eventually lead to the adoption of UBI in several countries around the world--making this volume an especially timely and necessary read.

A Financial Times Best Economics Book of the Year
A Foreign Affairs Best Book of the Year
A Fareed Zakaria GPS Book of the Week

A highly intelligent, fact-based defense of the virtues of an open, competitive economy and society.
--Fareed Zakaria

A vitally important corrective to the current populist moment...Open points the way to a kinder, gentler version of globalization that ensures that the gains are shared by all.
--Justin Wolfers

Clausing's important book lays out the economics of globalization and, more important, shows how globalization can be made to work for the vast majority of Americans. I hope the next President of the United States takes its lessons on board.
--Lawrence H. Summers, former Secretary of the Treasury

Makes a strong case in favor of foreign trade in goods and services, the cross-border movement of capital, and immigration. This valuable book amounts to a primer on globalization.
--Richard N. Cooper, Foreign Affairs

Critics on the Left have long attacked open markets and free trade agreements for exploiting the poor and undermining labor, while those on the Right complain that they unjustly penalize workers back home. Kimberly Clausing takes on old and new skeptics in her compelling case that open economies are actually a force for good. Turning to the data to separate substance from spin, she shows how international trade makes countries richer, raises living standards, benefits consumers, and brings nations together. At a time when borders are closing and the safety of global supply chains is being thrown into question, she outlines a clear agenda to manage globalization more effectively, presenting strategies to equip workers for a modern economy and establish a better partnership between labor and the business community.

Greedy corporate interests have been lying to us for centuries. Here's an illustrated, entertaining road map for navigating through their hypocrisy and deception

From praising the health benefits of cigarettes to moralizing on the character-building qualities of child labor, rich corporate overlords have gone to astonishing, often morally indefensible lengths to defend their profits. Since the dawn of capitalism, they've told the same lies over and over to explain why their bottom line is always more important than the greater good: You say you want to raise the federal minimum wage? Why, you'll only make things worse for the very people you want to help! Should we hold polluters accountable for the toxins they're dumping in our air and water? No, the free market will save us! Can we raise taxes on the rich to pay for universal healthcare? Of course not--that will kill jobs! Affordable childcare? Socialism! It's always the same tired threats and finger-pointing, in a concentrated campaign to keep wealth and power in the hands of the wealthy and powerful.

Corporate Bullsh*t will help you identify this pernicious propaganda for the wealthiest 1 percent, and teach you how to fight back. Structured around some of the most egregious statements ever made by the rich and powerful, the book identifies six categories of falsehoods that repeatedly thwart progress on issues including civil rights, wealth inequality, climate change, voting rights, gun responsibility, and more. With amazing illustrations and a sharp sense of humor, Corporate Bullsh*t teaches readers how to never get conned, bamboozled, or ripped off ever again.

Former CEO of CKE Restaurants, Inc. Andrew F. Puzder exposes how the secretive consolidation of financial power under the guise of ESG represents a new collectivist threat to the free market.

Over the last thirty-five years, asset manager mega-giants BlackRock, State Street, and Vanguard have accumulated unprecedented levels of stock ownership in virtually every major US company. Voting the shares they hold for clients allows these companies to force their own environmental, social, and governance or ESG agenda on the American corporate sector and, by extension, on all of us.

An asset manager's traditional duty is to maximize returns for its investors, but these financial elites expand their duties through stakeholder capitalism, the idea that a company is responsible not only for its actual shareholders, but for everyone who is affected by the company--which translates to everyone in the community. Thus, they can impose their preferred ESG goals under the guise of benefitting an amorphous group of non-investors--a group that has no say over whether ESG goals actually benefit them.

This elite-dominated economic system is nothing more than socialism in sheep's clothing. ESG defines the champagne socialist agenda that would devastate the working and middle classes globally. Now, in the face of rising opposition, these financial elites are suddenly rebranding--shifting their terminology to conceal their intent.

A Tyranny for the Good of its Victims exposes how, although they may abandon the acronym ESG, these elites have pursued--and will continue to pursue--their ESG goals: to transform our consumer-driven free-market economy into one that is subject to their elitist demands, overriding the will of the people whom they deem incapable of self-government.

In this passionate and powerful book--part manifesto, part plan of action--the renowned economist Jeffrey D. Sachs offers a practical strategy to move America, seemingly more divided than ever, toward a new consensus: sustainable development. Sustainable development is a holistic approach that emphasizes economic, social, and environmental objectives in shaping policy. In focusing too much on economic growth, the United States has neglected rising economic inequality and dire environmental threats. Now, even growth is imperiled.

Sachs explores issues that have captivated the nation and political debate, including infrastructure, trade deals, energy policy, the proper size and role of government, the national debt, and income inequality. Not only does he provide illuminating and accessible explanations of the forces at work in each case, but he also presents specific policy solutions. His argument rises above the pessimism born of political paralysis, economic stagnation, and partisanship to devise a brighter way forward, achievable both individually and collectively. In Building the New American Economy, Sachs shows how the United States can find a path to renewed economic progress that is fair and environmentally sustainable.

LARGE PRINT EDITION More at LargePrintLiberty.com.

The most powerful case against the American central bank ever written. This work begins with a mini-treatment of money and banking theory, and then plunges right in with the real history of the Federal Reserve System. Rothbard covers the struggle between competing elites and how they converged with the Fed.Rothbard calls for the abolition of the central bank and a restoration of the gold standard. His popular treatment incorporates the best and most up-to-date scholarship on the Fed's origins and effects.

2011 Reprint of 1963 Edition. Full facsimile of the original edition, not reproduced with Optical Recognition Software. Murray Newton Rothbard (1926 - 1995) was an American author and economist of the Austrian School who helped define capitalist libertarianism and popularized a form of free-market anarchism he termed anarcho-capitalism. Rothbard wrote over twenty books and is considered a centrally important figure in the American libertarian movement. Building on the Austrian School's concept of spontaneous order, support for a free market in money production and condemnation of central planning, Rothbard advocated abolition of coercive government control of society and the economy. He considered the monopoly force of government the greatest danger to liberty and the long-term well-being of the populace, labeling the State as nothing but a gang of thieves writ large-the locus of the most immoral, grasping and unscrupulous individuals in any society. Rothbard concluded that all services provided by monopoly governments could be provided more efficiently by the private sector.

A NEW YORK TIMES BESTSELLER!

In his first major book on the subject of income inequality, Noam Chomsky skewers the fundamental tenets of neoliberalism and casts a clear, cold, patient eye on the economic facts of life. What are the ten principles of concentration of wealth and power at work in America today? They're simple enough: reduce democracy, shape ideology, redesign the economy, shift the burden onto the poor and middle classes, attack the solidarity of the people, let special interests run the regulators, engineer election results, use fear and the power of the state to keep the rabble in line, manufacture consent, marginalize the population. In Requiem for the American Dream, Chomsky devotes a chapter to each of these ten principles, and adds readings from some of the core texts that have influenced his thinking to bolster his argument.

To create Requiem for the American Dream, Chomsky and his editors, the filmmakers Peter Hutchison, Kelly Nyks, and Jared P. Scott, spent countless hours together over the course of five years, from 2011 to 2016. After the release of the film version, Chomsky and the editors returned to the many hours of tape and transcript and created a document that included three times as much text as was used in the film. The book that has resulted is nonetheless arguably the most succinct and tightly woven of Chomsky's long career, a beautiful vessel--including old-fashioned ligatures in the typeface--in which to carry Chomsky's bold and uncompromising vision, his perspective on the economic reality and its impact on our political and moral well-being as a nation.

During the Great Depression, which I'm old enough to remember, it was bad-much worse subjectively than today. But there was a sense that we'll get out of this somehow, an expectation that things were going to get better . . . --from Requiem for the American Dream

A renowned Harvard professor debunks prevailing orthodoxy with a new intellectual foundation and a practical pathway forward for a system that has lost its moral and ethical foundation.
Free market capitalism is one of humanity's greatest inventions and the greatest source of prosperity the world has ever seen. But this success has been costly. Capitalism is on the verge of destroying the planet and destabilizing society as wealth rushes to the top. The time for action is running short.

Rebecca Henderson's rigorous research in economics, psychology, and organizational behavior, as well as her many years of work with companies around the world, give us a path forward. She debunks the worldview that the only purpose of business is to make money and maximize shareholder value. She shows that we have failed to reimagine capitalism so that it is not only an engine of prosperity but also a system that is in harmony with environmental realities, the striving for social justice, and the demands of truly democratic institutions.

Henderson's deep understanding of how change takes place, combined with fascinating in-depth stories of companies that have made the first steps towards reimagining capitalism, provide inspiring insight into what capitalism can be. Together with rich discussions of important role of government and how the worlds of finance, governance, and leadership must also evolve, Henderson provides the pragmatic foundation for navigating a world faced with unprecedented challenge, but also with extraordinary opportunity for those who can get it right.

As the Japanese economy languished in the 1990s Japanese government officials, business executives, and opinion leaders concluded that their economic model had gone terribly wrong. They questioned the very institutions that had been credited with Japan's past success: a powerful bureaucracy guiding the economy, close government-industry ties, lifetime employment, the main bank system, and dense interfirm networks. Many of these leaders turned to the U.S. model for lessons, urging the government to liberate the economy and companies to sever long-term ties with workers, banks, suppliers, and other firms.Despite popular perceptions to the contrary, Japanese government and industry have in fact enacted substantial reforms. Yet Japan never emulated the American model. As government officials and industry leaders scrutinized their options, they selected reforms to modify or reinforce preexisting institutions rather than to abandon them. In Japan Remodeled, Steven Vogel explains the nature and extent of these reforms and why they were enacted.Vogel demonstrates how government and industry have devised innovative solutions. The cumulative result of many small adjustments is, he argues, an emerging Japan that has a substantially redesigned economic model characterized by more selectivity in business partnerships, more differentiation across sectors and companies, and more openness to foreign players.

Japan grew explosively and consistently for more than a century, from the Meiji Restoration until the collapse of the economic bubble in the early 1990s. Since then, it has been unable to restart its economic engine and respond to globalization. How could the same political-economic system produce such strongly contrasting outcomes?

This book identifies the crucial variables as classic Japanese forms of socio-political organization: the circles of compensation. These cooperative groupings of economic, political, and bureaucratic interests dictate corporate and individual responses to such critical issues as investment and innovation; at the micro level, they explain why individuals can be decidedly cautious on their own, yet prone to risk-taking as a collective. Kent E. Calder examines how these circles operate in seven concrete areas, from food supply to consumer electronics, and deals in special detail with the influence of Japan's changing financial system. The result is a comprehensive overview of Japan's circles of compensation as they stand today, and a road map for broadening them in the future.