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Best Business Books: P
The Panama Papers: Breaking the Story of how the Rich and Powerful Hide Their Money by
Call Number: HJ2336.O2413 2016
Publication Date: Oneworld, 2016. $17.99
"With precision and purpose, THE PANAMA PAPERS is what 'Follow the Money' means." --Bob Woodward,The Washington Post Late one evening, investigative journalist Bastian Obermayer receives an anonymous message offering him access to secret data. Through encrypted channels, he then receives documents revealing how the president of Argentina has sequestered millions of dollars of state money for private use. This is just the beginning. Obermayer and fellowS#65533;ddeutsche journalist Frederik Obermaier find themselves immersed in the secret world where complex networks of letterbox companies help the super-rich to hide their money. Faced with the contents of the largest data leak in history, they activate an international network of journalists to follow every possible line of inquiry. Operating in the strictest secrecy for over a year, they uncover cases involving European prime ministers and international dictators, emirs and kings, celebrities and aristocrats. The real-life thriller behind the story of the century,The Panama Papers is an intense, unputdownable account that proves, once and for all, that there exists a small elite living by a different set of rules and blows their secret world wide open.
Pandora's Risk: Uncertainty at the Core of Finance by
Call Number: HD61 .O83 2011 (Library West)
ISBN: 9780231151726. Columbia University Press, 283 p., $49.95
Publication Date: 2011
Author of the acclaimed work Iceberg Risk: An Adventure in Portfolio Theory, Kent Osband argues that uncertainty is central rather than marginal to finance. Markets don't trade mainly on changes in risk. They trade on changes in beliefs about risk. In the process, markets unite, stretch, and occasionally defy beliefs. Recognizing this would make a world of difference in investing. Belittling uncertainty has driven a rift between financial theory and practice and within finance theory itself. It has misguided regulation. It has stoked the greatest financial imbalances in world history. Hoping to spark a revolution in the mindset of the investment professional, Osband recasts the market as a learning machine rather than a knowledge machine. The market continually errs, corrects itself, and makes new errors. Respecting that process without idolizing it will lead to wiser investment, trading, and regulation. With uncertainty embedded at its core, Osband's rational approach points to a finance theory worthy of twenty-first-century investing.
The Party Forever: Inside Modern China's Communist Elite by
Call Number: JQ1519 .A5 .C18743 2013 (Library West)
Publication Date: 2013
An inside look at the new leaders of the Chinese Communist Party, and why the country's continued prosperity will keep them in power for years to come. The Chinese Communist Party today exerts far-reaching control over every aspect of private life. Beyond it's legendary control of the internet within China's borders, even seemingly non-political domains are subject to its authority: routine business deals require party approval; university courses reflect party doctrine; and party families amass incredible wealth while other enterprises are squeezed out. Experts predicted that the Party leadership would mellow as the country's economic fortunes soar, but the next generation of political heavyweights is keeping a tight grip on the reigns of power. Today's huge new class of young professionals, whether they believe in the Party's ideology or not, are as focused as ever on strengthening the Party's role and silencing dissent. Rowan Callick goes behind the scenes to reveal the workings of China's political elite, introduce us to its future leaders and explore how prepared it is to meet the challenges of its new role in the twenty-first century. This is an essential and eye-opening account of this poorly understood but hugely influential player in world politics.
Paying the Price: Ending the Great Recession and Beginning a New American Century by
Call Number: HB3717 2008.Z36 2012 (Library West)
Publication Date: 2012
Pessimists say the U.S. economy is collapsing. The truth is American business are as competitive as they've been in 50 years. This dramatic turn in the economy’s fortunes occurred because of what government did to stem the financial panic and combat the effects of Great Recession. Policymakers’ unprecedented actions – from Congress’ auto and bank bailouts and fiscal stimulus, to the Federal Reserve’s zero interest rates and quantitative easing – remain intensely controversial, but ultimately they will be judged a success. Serious problems remain, including the government’s mounting debt load and a burgeoning number of disenfranchised workers, but we are on our way to addressing them. Our economic future has arguably never been brighter.
Payoff: The Hidden Logic that Shapes Our Motivation by
Call Number: (Library West, On Order)
Publication Date: Simon & Schuster, 2016. $16.99
Bestselling author Dan Ariely reveals fascinating new insights into motivation—showing that the subject is far more complex than we ever imagined. Every day we work hard to motivate ourselves, the people we live with, the people who work for and do business with us. In this way, much of what we do can be defined as being “motivators.” From the boardroom to the living room, our role as motivators is complex, and the more we try to motivate partners and children, friends and coworkers, the clearer it becomes that the story of motivation is far more intricate and fascinating than we’ve assumed. Payoff investigates the true nature of motivation, our partial blindness to the way it works, and how we can bridge this gap. With studies that range from Intel to a kindergarten classroom, Ariely digs deep to find the root of motivation—how it works and how we can use this knowledge to approach important choices in our own lives. Along the way, he explores intriguing questions such as: Can giving employees bonuses harm productivity? Why is trust so crucial for successful motivation? What are our misconceptions about how to value our work? How does your sense of your mortality impact your motivation?
The Payoff: Why Wall Street Always Wins by
Call Number: HB3717 2008.C66 2012 (Library West)
Publication Date: 2012
Lobbyist, White House Lawyer, and Senate Aide on the Power of America’s Plutocracy to Avoid Prosecution and Subvert Financial Reform Beginning in January 2009, THE PAYOFF lays bare Washington’s culture of power and plutocracy. It’s the story of the twenty-month struggle by Senator Ted Kaufman and Jeff Connaughton, his chief of staff, to hold Wall Street executives accountable for securities fraud, to stop stock manipulation by high-frequency traders, and to break up too-big-to-fail megabanks. This book takes us inside their dogged crusade against institutional inertia and industry influence as they encounter an outright reluctance by the Obama administration, the Justice Department, and the Securities and Exchange Commission to treat Wall Street crimes with the gravity they deserve. On financial reforms, Connaughton criticizes Democrats for relying on the very Wall Street technocrats who had failed to prevent the crisis and Republicans for staunchly opposing real reforms primarily to enjoy a golden opportunity to siphon fundraising dollars from the Wall Street executives who had raised millions to elect Barack Obama president. Connaughton, a former lawyer in the Clinton White House, illuminates the pivotal moments and key decisions in the fight for financial reform that have gone largely unreported. His arch, nonpartisan account chronicles the reasons why Wall Street’s worst offenses were left unpunished, and why it’s likely that the 2008 debacle will happen again.
Pedigree: How Elite Students Get Elite Jobs by
Call Number: HD6278.U5 R59 2015 (Library West, Pre-Order)
Publication Date: Princeton, 2015. $35.00
Americans are taught to believe that upward mobility is possible for anyone who is willing to work hard, regardless of their social status, yet it is often those from affluent backgrounds who land the best jobs. Pedigree takes readers behind the closed doors of top-tier investment banks, consulting firms, and law firms to reveal the truth about who really gets hired for the nation’s highest-paying entry-level jobs, who doesn’t, and why. Drawing on scores of in-depth interviews as well as firsthand observation of hiring practices at some of America’s most prestigious firms, Lauren Rivera shows how, at every step of the hiring process, the ways that employers define and evaluate merit are strongly skewed to favor job applicants from economically privileged backgrounds. She reveals how decision makers draw from ideas about talent—what it is, what best signals it, and who does (and does not) have it—that are deeply rooted in social class. Displaying the “right stuff” that elite employers are looking for entails considerable amounts of economic, social, and cultural resources on the part of the applicants and their parents. Challenging our most cherished beliefs about college as a great equalizer and the job market as a level playing field, Pedigree exposes the class biases built into American notions about the best and the brightest, and shows how social status plays a significant role in determining who reaches the top of the economic ladder.
The Penguin and the Leviathan: The Triumph of Cooperation over Self-Interest by
Call Number: HD2963.B46 2011 (Library West)
Publication Date: 2011
What do Wikipedia, Zip Car’s business model, Barack Obama's presidential campaign, and a small group of lobster fishermen have in common? They all show the power and promise of human cooperation in transforming our businesses, our government, and our society at large. Because today, when the costs of collaborating are lower than ever before, there are no limits to what we can achieve by working together. For centuries, we as a society have operated according to a very unflattering view of human nature: that, humans are universally and inherently selfish creatures. As a result, our most deeply entrenched social structures – our top-down business models, our punitive legal systems, our market-based approaches to everything from education reform to environmental regulation - have been built on the premise that humans are driven only by self interest, programmed to respond only to the invisible hand of the free markets or the iron fist of a controlling government. In the last decade, however, this fallacy has finally begun to unravel, as hundreds of studies conducted across dozens of cultures have found that most people will act far more cooperatively than previously believed. Here, Harvard University Professor Yochai Benkler draws on cutting-edge findings from neuroscience, economics, sociology, evolutionary biology, political science, and a wealth of real world examples to debunk this long-held myth and reveal how we can harness the power of human cooperation to improve business processes, design smarter technology, reform our economic systems, reduce crime, improve the efficacy of civic movements, and more. A must-read for anyone who wants to understand the dynamics of cooperation in 21st century life, The Penguin and the Leviathan not only challenges so many of the ways in which we live and work, it forces us to rethink our entire view of human nature.
The People's Tycoon: Henry Ford and the American Century by
Call Number: HD9710.U52 F6684 2005 (Library West)
Henry Ford, a major architect of modern America, has lived on in the imagination of his fellow citizens as an enduring figure of fascination, an inimitable individual, a controversial personality, and a social visionary from the moment his Model T brought the automobile to the masses and triggered the consumer revolution. But never before has his outsized genius been brought to life so vividly as by Steven Watts in this major new biography. Watts has produced a superbly researched study of a man who was a bundle of contradictions. Ford was the entrepreneur who first made the automobile affordable but who grew skeptical of consumerism's corrosive impact on moral values, an employer who insisted on a living wage for his workers but stridently opposed unions, who welcomed African Americans to his company in the age of Jim Crow but was a rabid anti-Semite. He was the private man who had a warm, loving marriage while siring a son with a mistress; a folksy social philosopher and at one time, perhaps, the most popular figure in America, who treated his workers so harshly that they turned against him; and the greatest businessman of his age who haplessly lost control of his own company in his declining years. Watts poignantly shows us how a Michigan farm boy from modest circumstances emerged as one of America's richest men and one of its first mass-culture celebrities and also excited the admiration of figures as diverse as Vladimir Lenin and Adolf Hitler, John D. Rockefeller and Woodrow Wilson. Disclosing the man behind the myth and situating his achievements and controversies firmly within the context of early twentieth-century America, Watts has given us a comprehensive, illuminating biography of an American icon.
The Perfect Bet: How Science and Math are Taking Luck out of Gambling by
Call Number: QA271.K83 2015 (Library West, Pre-Order)
Publication Date: bASIC bOOKS, 2016. $26.99
There is one thing about gambling that everyone knows: the house always wins. Lotteries are set up to guarantee profits, to the state. A craps game is a sure thing, but only if you own the table. Sometimes, however, everyone is wrong. After all, the reason that casinos ban card counters is that counting cards works. Indeed, for the past 500 years, gamblers--led by mathematicians and scientists--have been trying to figure out how to turn the tables on the house and pull the rug out from under Lady Luck. InThe Perfect Bet, mathematician and award-winning writer Adam Kucharski tells the astonishing story of how the experts have done it, revolutionizing mathematics and science in the process. From Galileo to Alan Turing, betting has been scientists’ playground for ideas: dice games in sixteenth-century bars gave birth to the theory of probability, and poker to game theory (mathematician John von Neumann wanted to improve his game) and to much of artificial intelligence. Kucharski gives us a collection ofrogues, geniuses, and mavericks who are equally at home in a casino in Monte Carlo as investigating how to build an atomic bomb for the Manhattan Project. They include the mathematician who flipped a coin 25,000 times to see if it was fair; the college kids who gamed the Massachusetts lottery to yield millions of dollars in profit; and the horse-betting syndicates of Hong Kong’s Happy Valley, who turned a wager on ponies into a multi-billion-dollar industry. With mathematical rigor and narrative flair, Adam Kucharski reveals the tangled history of betting and science. The house can seem unbeatable. In this book, Kucharski shows us just why it isn’t. Even better, he shows us how the search for the perfect bet has been crucial for the scientific pursuit of a better world
Persuasive Business Proposals: Writing to Win More Customers, Clients and Contracts by
Call Number: HF5718.5 .S26 2012 e-book (Books 24x7)
Publication Date: 2012
Writing a winning proposal has always been an important part of sales. In recent years it has become vital. But many companies are still cranking out confusing, unpersuasive proposals and RFPs - few of which result in new clients or contracts. Now everyone can dramatically boost their success rate with the third edition of Persuasive Business Proposals. This classic guide explains how to craft compelling messages and powerful proposals that attract prospects' attention and speak to their needs. The new edition includes more valuable information than ever before, including: * Essential questions for qualifying opportunities * Ways to "power up" cover letters and executive summaries * Advice for overcoming "valueparanoia" * Guidelines for incorporating proof into a proposal * Tips for winning renewal contracts. With clear instructions as well as before-and-after samples, Persuasive Business Proposals takes readers step-by-step through a highly effective process for writing customized packages that capture new business.
Philanthropy in America: A History by
Call Number: HV91 .Z86 2012 (Library West)
ISBN: 9780691128368. Princeton University Press, 381 p., $29.95
Publication Date: 2011
American philanthropy today expands knowledge, champions social movements, defines active citizenship, influences policymaking, and addresses humanitarian crises. How did philanthropy become such a powerful and integral force in American society? Philanthropy in America is the first book to explore in depth the twentieth-century growth of this unique phenomenon. Ranging from the influential large-scale foundations established by tycoons such as John D. Rockefeller, Sr., and the mass mobilization of small donors by the Red Cross and March of Dimes, to the recent social advocacy of individuals like Bill Gates and George Soros, respected historian Olivier Zunz chronicles the tight connections between private giving and public affairs, and shows how this union has enlarged democracy and shaped history. Zunz looks at the ways in which American philanthropy emerged not as charity work, but as an open and sometimes controversial means to foster independent investigation, problem solving, and the greater good. Andrew Carnegie supported science research and higher education, catapulting these fields to a prominent position on the world stage. In the 1950s, Howard Pew deliberately funded the young Billy Graham to counter liberal philanthropies, prefiguring the culture wars and increased philanthropic support for religious causes. And in the 1960s, the Ford Foundation supported civil rights through education, voter registration drives, and community action programs. Zunz argues that American giving allowed the country to export its ideals abroad after World War II, and he examines the federal tax policies that unified the diverse nonprofit sector. Demonstrating that America has cultivated and relied on philanthropy more than any other country, Philanthropy in America examines how giving for the betterment of all became embedded in the fabric of the nation's civic democracy.
Phishing for Phools: The Economics of Manipulation and Deception by
Call Number: HB74.P8 A49443 2015 (Forthcoming Order)
Publication Date: Princeton, 2015. $24.95
Ever since Adam Smith, the central teaching of economics has been that free markets provide us with material well-being, as if by an invisible hand. In Phishing for Phools, Nobel Prize-winning economists George Akerlof and Robert Shiller deliver a fundamental challenge to this insight, arguing that markets harm as well as help us. As long as there is profit to be made, sellers will systematically exploit our psychological weaknesses and our ignorance through manipulation and deception. Rather than being essentially benign and always creating the greater good, markets are inherently filled with tricks and traps and will "phish" us as "phools." Phishing for Phools therefore strikes a radically new direction in economics, based on the intuitive idea that markets both give and take away. Akerlof and Shiller bring this idea to life through dozens of stories that show how phishing affects everyone, in almost every walk of life. We spend our money up to the limit, and then worry about how to pay the next month's bills. The financial system soars, then crashes. We are attracted, more than we know, by advertising. Our political system is distorted by money. We pay too much for gym memberships, cars, houses, and credit cards. Drug companies ingeniously market pharmaceuticals that do us little good, and sometimes are downright dangerous. Phishing for Phools explores the central role of manipulation and deception in fascinating detail in each of these areas and many more. It thereby explains a paradox: why, at a time when we are better off than ever before in history, all too many of us are leading lives of quiet desperation. At the same time, the book tells stories of individuals who have stood against economic trickery--and how it can be reduced through greater knowledge, reform, and regulation.
The Physics of Wall Street: A Brief History of Predicting the Unpredictable by
Call Number: HG4910 .W357 2013 (Library West)
ISBN: 9780547317274. American Management Association, 286 p., $27.00
Publication Date: 2013
After the economic meltdown of 2008, many pundits placed the blame on “complex financial instruments” and the physicists and mathematicians who dreamed them up. But how is it that physicists came to drive Wall Street? And were their ideas really the cause of the collapse? In The Physics of Wall Street, physicist James Weatherall answers both these questions. He tells the story of how physicists first moved to finance, bringing science to bear on some of the thorniest problems in economics, from bubbles to options pricing. But models have limitations and can break down in the hands of those who either don’t understand their purpose or don’t care, which is exactly what happened on Wall Street. However, Weatherall argues that the solution is not to give up on the models, but to make them better.
Pinpoint: How GPS is Changing Technology, Culture, and Our Minds by
Call Number: G109.5 .M55 2016 (Library West, On Order)
Publication Date: Norton, 2016. $27.95
Over the last fifty years, humanity has developed an extraordinary shared utility: the Global Positioning System. Even as it guides us across town, GPS helps land planes, route mobile calls, anticipate earthquakes, predict weather, locate oil deposits, measure neutrinos, grow our food, and regulate global finance. It is as ubiquitous and essential as another Cold War technology, the Internet. In Pinpoint, Greg Milner takes us on a fascinating tour of a hidden system that touches almost every aspect of our modern life. While GPS has brought us breathtakingly accurate information about our planetary environment and physical space, it has also created new forms of human behavior. We have let it saturate the world’s systems so completely and so quickly that we are just beginning to confront the possible consequences. A single GPS timing flaw, whether accidental or malicious, could bring down the electrical grid, hijack drones, or halt the world financial system. The use, and potential misuse, of GPS data by government and corporations raise disturbing questions about ethics and privacy. GPS may be altering the nature of human cognition—possibly even rearranging the gray matter in our heads. Pinpoint tells the sweeping story of GPS from its conceptual origins as a bomb guidance system to its presence in almost everything we do. Milner examines the different ways humans have understood physical space, delves into the neuroscience of cognitive maps, and questions GPS’s double-edged effect on our culture. A fascinating and original story of the scientific urge toward precision, Pinpoint offers startling insight into how humans understand their place in the world.
Players: The Story of Sports and Money, and the Visionaries Whi Fought to Create a Revolution by
Call Number: GV716.F87 2016 (Library West, On Order)
Publication Date: Simon & Schuster, 2016. $26.95
NEW YORK TIMES BESTSELLER “The business of sports has been completely transformed over the course of my lifetime, and Players is a riveting behind-the-scenes look at the beginnings of that revolution. I couldn’t put it down.” —Billy Beane The astonishing untold story of the people who transformed sports, in the span of a single generation, from a job that required top athletes to work in the off-season to make ends meet into a massive global business. In the cash-soaked world of contemporary sports, where every season brings news of higher salaries, endorsement deals, and television contracts, it is mind-boggling to remember that as recently as the 1970s elite athletes earned so little money that many were forced to work second jobs in the off-season. Roger Staubach, for example, made only $25,000 in his first season as the starting quarterback for the Dallas Cowboys and wound up selling commercial real estate during the summer. Today, when Fortune reports that every athlete on its Top 50 list makes more than twenty million dollar per year, it’s clear that a complete reversal of power has occurred right before our eyes. Players is the first book to tell the astonishing narrative behind the creation of the modern sports business—a true revolution that moved athletes from the bottom of the financial pyramid to the top. It started in 1960, when a young Cleveland lawyer named Mark McCormack convinced a young golfer named Arnold Palmer to sign with him. McCormack simply believed that the best athletes had more commercial value than they realized—and he was right. Before long, he raised Palmer’s annual off-the-course income from $5,000 to $500,000 and forever changed the landscape of the sports world. In Players, veteran Wall Street Journal sports reporter Matthew Futterman introduces a wide-ranging cast of characters to tell the story of the athletes, agents, TV executives, and league officials who together created the dominating and multifaceted sports industry we know today. Beginning with Palmer and McCormack’s historic partnership, Players features details of the landmark moments of sports that have never been revealed before, including how legendary Wide World of Sports producer Roone Arledge realized that the way to win viewers was to blend sports and human drama; the 1973 Wimbledon boycott, when eighty-one of the top tennis players in the world protested the suspension of Nikola Pilic; and baseball pitcher Catfish Hunter’s battle to become MLB’s first free agent. Players is a gripping, fly-on-the-wall account of the creation and rise of the modern sports world and the people who fought to make it happen. From the professionalization of the Olympics to the outsize influence of companies like IMG, Nike, and ESPN, this fascinating book details the wild evolution of sports into the extravaganza we experience today, and the inevitable trade-offs those changes have wrought.
Playing to Win: How Strategy Really Works by
Call Number: HD30.28 .L34 2013 (Library West)
Publication Date: Harvard Business Review Press, 2013. $30.00
This is A.G. Lafley’s guidebook. Shouldn’t it be yours as well? Winning CEO A.G. Lafley is now back at the helm of consumer goods giant Procter & Gamble. If you want to know the strategy he’ll use to restore P&G to its former dominanceread this book. Playing to Win, a notedWall Street Journal andWashington Post bestseller, outlines the strategic approach Lafley, in close partnership with strategic adviser Roger Martin, used to double P&G’s sales, quadruple its profits, and increase its market value by more than $100 billion when Lafley was first CEO (he led the company from 2000 to 2009). The book shows leaders in any type of organization how to guide everyday actions with larger strategic goals built around the clear, essential elements that determine business successwhere to play and how to win. Lafley and Martin have created a set of five essential strategic choices that, when addressed in an integrated way, will move you ahead of your competitors. They are: (1) What is our winning aspiration? (2) Where will we play? (3) How will we win? (4) What capabilities must we have in place to win? and (5) What management systems are required to support our choices? The result is a playbook for winning. The stories of how P&G repeatedly won by applying this method to iconic brands such as Olay, Bounty, Gillette, Swiffer, and Febreze clearly illustrate how deciding on a strategic approachand then making the right choices to support itmakes the difference between just playing the game and actually winning. Playing to Win outlines a proven method that has worked for some of today’s most celebrated brands and products. Let this book serve as your new guide to winning, as well.
Plutocrats: The Rise of the New Global Super-Rich and the Fall of Everyone Else by
Call Number: HB251 .F74 2012 (Legal Information Center)
Publication Date: 2012
Alarmingly insightful and refreshingly nonpartisan, the missing piece in our political conversation that presents a groundbreaking examination of wealth disparity. Cracking open this tight-knit world is Freeland, an acclaimed business journalist on both sides of the Atlantic.
Plutocrats United: Campaign Money, the Supreme Court and the Distortion of American Elections by
Call Number: JK2281 .H37 2016 (Library West, On Order)
Publication Date: Yale, 2016. $32.50
Campaign financing is one of today's most divisive political issues. The left asserts that the electoral process is rife with corruption. The right protests that the real aim of campaign limits is to suppress political activity and protect incumbents. Meanwhile, money flows freely on both sides. In Plutocrats United, Richard Hasen argues that both left and right avoid the key issue of the new Citizens United era: balancing political inequality with free speech. The Supreme Court has long held that corruption and its appearance are the only reasons to constitutionally restrict campaign funds. Progressives often agree but have a much broader view of corruption. Hasen argues for a new focus and way forward: if the government is to ensure robust political debate, the Supreme Court should allow limits on money in politics to prevent those with great economic power from distorting the political process.
Political Arithmetic: Simon Kuznets and the Empirical Tradition in Economics by
Call Number: HC110.15 F64 2013 e-book (MyiLibrary and Library West)
Publication Date: 2013
With Political Arithmetic, Nobel Prize-winning economist Robert Fogel and his collaborators tell the story of economist Simon Kuznets, the founding of the National Bureau of Economic Research, and the creation of the concept of GNP, which for the first time enabled us to measure the performance of entire economies. The book weaves together the many strands of political and economic thought and historical pressures that together created the demand for more detailed economic thinking--Progressive-era hopes for activist government, the production demands of World War I, Herbert Hoover's interest in business cycles as President Harding's commerce secretary, and the catastrophic economic failures of the Great Depression--and shows how, through trial and error, measurement and analysis, economists such as Kuznets rose to the occasion and in the process built a discipline whose knowledge could be put to practical use in everyday decision-making. The product of a lifetime of studying the workings of economies and skillfully employing the tools of economics, Political Arithmetic is simultaneously a history of a key period of economic thought and a testament to the power of applied ideas.
Political Bubbles: Financial Crises and the Failure of American Democracy by
Call Number: HB3717 .M24 2013 (Library West)
ISBN: 9780691145013.PrincetonUniversityPress, 356 p.
Publication Date: 2013
Behind every financial crisis lurks a "political bubble"--policy biases that foster market behaviors leading to financial instability. Rather than tilting against risky behavior, political bubbles--arising from a potent combination of beliefs, institutions, and interests--aid, abet, and amplify risk. Demonstrating how political bubbles helped create the real estate-generated financial bubble and the 2008 financial crisis, this book argues that similar government oversights in the aftermath of the crisis undermined Washington's response to the "popped" financial bubble, and shows how such patterns have occurred repeatedly throughout US history. The authors show that just as financial bubbles are an unfortunate mix of mistaken beliefs, market imperfections, and greed, political bubbles are the product of rigid ideologies, unresponsive and ineffective government institutions, and special interests. Financial market innovations--including adjustable-rate mortgages, mortgage-backed securities, and credit default swaps--become subject to legislated leniency and regulatory failure, increasing hazardous practices. The authors shed important light on the politics that blinds regulators to the economic weaknesses that create the conditions for economic bubbles and recommend simple, focused rules that should help avoid such crises in the future. The first full accounting of how politics produces financial ruptures, Political Bubbles offers timely lessons that all sectors would do well to heed.
The Ponzi Scheme Puzzle: A History and Analysis of Con Artists and Victims by
Call Number: HV6691 .F73 2012 (Library West and Legal Information Center)
Publication Date: 2012
Charles Ponzi perpetrated his infamous scheme almost a hundred years ago. But his method of using new investments to pay existing investors and finance a highflying lifestyle is alive and well: just as much money is lost in the United States today from Ponzi schemes as from shoplifting. Somehow, con artists are able to dazzle wealthy, educated individuals and sophisticated institutions and convince them to hand over huge sums of money. How? InThe Ponzi Scheme Puzzle, renowned legal scholar Tamar Frankel explores these con artists' fascinating power of persuasion and deception, uncovering the subtle signals that mimic truth and honesty. After years of close study of hundreds of cases, Frankel explains the striking patterns that emerge and the common characteristics of the con artists and their victims. She offers clear yet comprehensive descriptions of the various designs of Ponzi schemers' attractive offers and flags the ways in which they mask their deception through specialized methods of advertising and selling. There are indeed many lessons to learn from these stories, and Frankel brings them to light through the insightful results of her research. She shows how peoples' attitudes are ambivalent and uncertain toward con artists, perhaps because their behavior is so seemingly honest, because they act like the social leaders with whom they are likely to mingle, or perhaps because their actions are thought to shake up a complacent society. Frankel concludes by offering a surprising solution on how to prevent charming, dangerous con artists from perpetuating the enduring, disastrous legacy of Charles Ponzi.
Poor Economics: A Radical Rethinking of the Way to Fight Global Poverty by
Call Number: HC59.7 .B323 2011 (Library West)
ISBN: 9781586487980. Public Affairs, 2011. 303 p. $26.99
"Billions of government dollars, and thousands of charitable organizations and NGOs, are dedicated to helping the world's poor. But much of the work they do is based on assumptions that are untested generalizations at best, flat out harmful misperceptions at worst. Banerjee and Duflo have pioneered the use of randomized control trials in development economics. Work based on these principles, supervised by the Poverty Action Lab at MIT, is being carried out in dozens of countries. Their work transforms certain presumptions: that microfinance is a cure-all, that schooling equals learning, that poverty at the level of 99 cents a day is just a more extreme version of the experience any of us have when our income falls uncomfortably low. Throughout, the authors emphasize that life for the poor is simply not like life for everyone else: it is a much more perilous adventure, denied many of the cushions and advantages that are routinely provided to the more affluent"--
Portfolios of the Poor: How the World's Poor Live on $2 a Day by
Call Number: HC79.P6 .P67 2009 (Library West)
ISBN: 9780691141480. Princeton University Press, 2009. 283 p. $29.95
Nearly forty percent of humanity lives on an average of two dollars a day or less. If you've never had to survive on an income so small, it is hard to imagine. How would you put food on the table, afford a home, and educate your children? How would you handle emergencies and old age? Every day, more than a billion people around the world must answer these questions. Portfolios of the Poor is the first book to systematically explain how the poor find solutions to their everyday financial problems. The authors conducted year-long interviews with impoverished villagers and slum dwellers in Bangladesh, India, and South Africa—records that track penny by penny how specific households manage their money. The stories of these families are often surprising and inspiring. Most poor households do not live hand to mouth, spending what they earn in a desperate bid to keep afloat. Instead, they employ financial tools, many linked to informal networks and family ties. They push money into savings for reserves, squeeze money out of creditors whenever possible, run sophisticated savings clubs, and use microfinancing wherever available. Their experiences reveal new methods to fight poverty and ways to envision the next generation of banks for the "bottom billion." Indispensable for those in development studies, economics, and microfinance, Portfolios of the Poor will appeal to anyone interested in knowing more about poverty and what can be done about it.
The Power and Independence of the Federal Reserve by
Call Number: HG2563 .C596 2016 (Library West, On Order)
Publication Date: Princeton, 2006)
The independence of the Federal Reserve is considered a cornerstone of its identity, crucial for keeping monetary policy decisions free of electoral politics. But do we really understand what is meant by "Federal Reserve independence"? Using scores of examples from the Fed's rich history, The Power and Independence of the Federal Reserve shows that much common wisdom about the nation's central bank is inaccurate. Legal scholar and financial historian Peter Conti-Brown provides an in-depth look at the Fed's place in government, its internal governance structure, and its relationships to such individuals and groups as the president, Congress, economists, and bankers. Exploring how the Fed regulates the global economy and handles its own internal politics, and how the law does--and does not--define the Fed's power, Conti-Brown captures and clarifies the central bank's defining complexities. He examines the foundations of the Federal Reserve Act of 1913, which established a system of central banks, and the ways that subsequent generations have redefined the organization. Challenging the notion that the Fed Chair controls the organization as an all-powerful technocrat, he explains how institutions and individuals--within and outside of government--shape Fed policy. Conti-Brown demonstrates that the evolving mission of the Fed--including systemic risk regulation, wider bank supervision, and as a guardian against inflation and deflation--requires a reevaluation of the very way the nation's central bank is structured. Investigating how the Fed influences and is influenced by ideologies, personalities, law, and history, The Power and Independence of the Federal Reserve offers a clear picture of this uniquely important institution.
The Power of Habit: Why We Do What We Do in Life and Business by
Call Number: BF335.D78 2012 (Library West and Legal Information Center)
Publication Date: 2012
In The Power of Habit, award-winning New York Times business reporter Charles Duhigg takes us to the thrilling edge of scientific discoveries that explain, for the first time, why habits exist and how they can be shaped and changed. The Power of Habit explores why some people and companies never achieve real transformation, despite years of trying, while others remake themselves almost overnight. It takes you inside laboratories where neuroscientists create and extinguish habits, as though flipping a switch.You'll go inside Proctor & Gamble, Rick Warren's Saddleback Church, Target superstores, and the nation's largest hospitals, where implementing so-called "keystone habits" can earn billions and mean the difference between life and death. At its core, The Power of Habit contains a exhilarating argument: The key to exercising regularly, becoming more productive, losing weight, raising exceptional children, tapping into our reserves of creativity, building revolutionary companies and social movements, conquering our most stubborn vices, and capturing success is to understand how habits work. By harnessing this new science, we can transform our businesses, our communities, and our lives. From the Hardcover edition.
The Power of Networks: Six Principles That Connect Our Lives by
Call Number: TK5105.5.B75 2017 (Library West, On Order)
Publication Date: Princeton, 2017. $35.00
What makes WiFi faster at home than at a coffee shop? How does Google order search results? Why do Amazon, Netflix, and YouTube use fundamentally different rating and recommendation methods--and why does it matter? Is it really true that everyone on Facebook is connected in six steps or less? And how do cat videos--or anything else--go viral? The Power of Networks answers questions like these for the first time in a way that all of us can understand and use, whether at home, the office, or school. Using simple language, analogies, stories, hundreds of illustrations, and no more math than simple addition and multiplication, Christopher Brinton and Mung Chiang provide a smart but accessible introduction to the handful of big ideas that drive the technical and social networks we use every day--from cellular phone networks and cloud computing to the Internet and social media platforms. The Power of Networks unifies these ideas through six fundamental principles of networking, which explain the difficulties in sharing network resources efficiently, how crowds can be wise or not so wise depending on the nature of their connections, how there are many building-blocks of layers in a network, and more. Understanding these simple ideas unlocks the workings of everything from the connections we make on Facebook to the technology that runs such platforms. Along the way, the authors also talk with and share the special insights of renowned experts such as Google's Eric Schmidt, former Verizon Wireless CEO Dennis Strigl, and "fathers of the Internet" Vint Cerf and Bob Kahn. Networks are everywhere. The Power of Networks shows how they work--and what understanding them can do for you.
The Power of Noticing: What the Best Leaders See by
Call Number: HD 30.23 .B383 2014 (Library West, On Order)
ISBN: 9781476700298. Simon & Schuster.
Publication Date: 2014
From Harvard Business School Professor and Co-Director of the Harvard Kennedy School's Center for Public Leadership: A guide to making better decisions, noticing important information in the world around you, and improving leadership skills. Imagine your advantage in negotiations, decision-making, and leadership if you could teach yourself to see, and evaluate, information that others overlook. The Power of Noticingprovides the blueprint for accomplishing precisely that. Max Bazerman draws on three decades of research and his experience instructing Harvard Business School MBAs and corporate executives to teach you how to notice and act on information that may not be immediately obvious. Bazerman diagnoses what information went ignored in these situations, and why. Using many of the same case studies and thought experiments designed in his executive MBA classes, he challenges readers to explore their cognitive blind spots, identify any salient details they are programmed to miss, and then take steps to ensure it won't happen again. While many bestselling business books have explained how susceptible to manipulation our irrational cognitive blindspots make us, Bazerman helps you avoid the habits that lead to poor decisions and ineffective leadership in the first place. His book provides a step-by-step guide to breaking bad habits and spotting the hidden details that will change your decision-making and leadership skills for the better, teaching you to: pay attention to what didn't happen; acknowledge self-interest; invent the third choice; and realize that what you see is not all there is. With The Power of Noticing at your side, you can learn how to notice what others miss, make better decisions, and lead more successfully.
Power: Why Some People Have It - And Others Don't by
Call Number: HF5386 .P5765 2010 (Library West)
Publication Date: 2010
In this crowning achievement, one of the greatest minds in management theory reveals how to succeed and wield power in the real world. Over decades of consulting with corporations and teaching MBA students the nuances of organizational power, Jeffrey Pfeffer has watched numerous people suffer career reversals even as others prevail despite the odds. Our most common mistake is not having a realistic understanding of what makes some people more successful than others. By believing that life is fair, we tend to subscribe to the just-world phenomenon, which leaves us unprepared for the challenges and competition of the real world. Brimming with counterintuitive advice, numerous examples from various countries, and surprising findings based on his research, this groundbreaking guide reveals the strategies that separate the winners from the losers. Power, he argues, is a force that can be used and harnessed not only for individual gain but also for the benefit of organizations and society. Power, however, is not something that can be learned from those in charge'their advice often puts a rosy spin on their ascent and focuses on what should have worked, rather than what actually did. Instead, Pfeffer reveals the true paths to power and career success. Power is an essential organizational survival manual and a new standard in the field of leadership and management.
The Powerhouse: Inside the Invention of a Battery to Save the WQorld by
Call Number: TK2945.L58 L45 2015 (Library West, On Order)
Publication Date: Viking, 2015. $28.95
A story of innovation, commerce, and duplicity in one of the world's most competitive and consequential fields of technology A super-battery would change the world. It would undermine Russia's Vladimir Putin, endanger Saudi Arabia's ruling family, threaten OPEC, and transform China into one of the cleanest industrializing nations on the planet. There would be impossible new wealth for one lucky country - the place where that battery was invented. For the rest of us, there would be less worry about climate change and less spent on oil and gasoline. So what was holding back this new day? To find out, Steve LeVine was granted two years of unprecedented access to Argonne National laboratory, a secure federal research center outside Chicago, where a group of geniuses is trying to solve this next monumental task of physics. But these scientists - most foreign born - were not alone. With so much at stake, researchers in some twenty countries were in the same pursuit - Japan and south Korea, Brazil, Finland, France, Germany, Israel, Malaysia, Russia, Singapore, South Africa, and the United Kingdom, and of course the United States and China. It was a war - a battery war. Not since Tracy Kidder's classic The Soul of a New Machinehas a writer so successfully captured the drama of technological competition at a great turning point. The Powerhouseis a thrilling account of the next technological age, a chronicle of aspiration and disappointment, competition and ambition. 'Steve LeVine is a masterful storyteller and The Powerhouseis a thrilling read about an innovator's quest to transform our planet and our lives. His goal, a revolutionary battery, has the potential to change everything.' Peter H. Diamandis, chairman of the X-Prize Foundation and author of Abundance: The Future is Better Than You Think 'Gripping and mind-opening. Filled with astonishing research, The Powerhousereads like a thriller. It's fabulous.' Amy Chua, Yale Law professor and author of Battle Hymn of the Tiger Mother and The Triple Package 'Steve LeVine has written a fast-paced, engaging account of one of this young century's great quests: the search for a technology that will unleash a dramatic transformation of the world with blockbuster new industries and culture-changing products. It's an amazing story, gripping in its surprising narrative and crowded with fascinating characters.'Marcus Brauchli, former Executive Editor, The Washington Postand former managing editor of The Wall Street Journal
Powerhouse: The Untold Story of Hollywood's Creative Artists Agency by
Call Number: PN2295.C74 M55 2016 (Library West)
Publication Date: William Morrow, 2016. $32.50
A New York Times bestseller An astonishing—and astonishingly entertaining—history of Hollywood’s transformation over the past five decades as seen through the agency at the heart of it all, from the #1 bestselling co-author of Live from New York and Those Guys Have All the Fun. The movies you watch, the TV shows you adore, the concerts and sporting events you attend—behind the curtain of nearly all of these is an immensely powerful and secretive corporation known as Creative Artists Agency. Started in 1975, when five bright and brash employees of a creaky William Morris office left to open their own, strikingly innovative talent agency, CAA would come to revolutionize the entertainment industry, and over the next several decades its tentacles would spread aggressively throughout the worlds of movies, television, music, advertising, and investment banking. Powerhouse is the fascinating, no-holds-barred saga of that ascent. Drawing on unprecedented and exclusive access to the men and women who built and battled with CAA, as well as financial information never before made public, author James Andrew Miller spins a tale of boundless ambition, ruthless egomania, ceaseless empire building, greed, and personal betrayal. It is also a story of prophetic brilliance, magnificent artistry, singular genius, entrepreneurial courage, strategic daring, foxhole brotherhood, and how one firm utterly transformed the entertainment business. Here are the real Star Wars—complete with a Death Star—told through the voices of those who were there. Packed with scores of stars from movies, television, music, and sports, as well as a tremendously compelling cast of agents, studio executives, network chiefs, league commissioners, private equity partners, tech CEOs, and media tycoons, Powerhouse is itself a Hollywood blockbuster of the most spectacular sort.
Predictably Irrational: The Hidden Forces That Shape Our Decisions by
Call Number: HB137.Z55 2007 (Library West & Legal Information Center)
ISBN: 006135323X. Harper, 2008. 280 p. $25.95
In this revised and expanded edition of the New York Times and Wall Street Journal bestseller Predictably Irrational, Duke University's behavioral economist Dan Ariely explores the hidden forces that shape our decisions, including some of the causes responsible for the current economic crisis. Bringing a much-needed dose of sophisticated psychological study to the realm of public policy, Ariely offers his own insights into the irrationalities of everyday life, the decisions that led us to the financial meltdown of 2008, and the general ways we get ourselves into trouble. Blending common experiences and clever experiments with groundbreaking analysis, Ariely demonstrates how expectations, emotions, social norms, and other invisible, seemingly illogical forces skew our reasoning abilities. As he explains, our reliance on standard economic theory to design personal, national, and global policies may, in fact, be dangerous. The mistakes that we make as individuals and institutions are not random, and they can aggregate in the market—with devastating results. In light of our current economic crisis, the consequences of these systematic and predictable mistakes have never been clearer. Packed with new studies and thought-provoking responses to readers' questions and comments, this revised and expanded edition of Predictably Irrational will change the way we interact with the world—from the small decisions we make in our own lives to the individual and collective choices that shape our economy.
Pre-Suasion: A Revolutionary Way to Influence and Persuade by
Call Number: BF774.C56 2016 (Library West, On Order)
Publication Date: Simon & Schuster, 2016. $28.00
NEW YORK TIMES BESTSELLER WALL STREET JOURNAL BESTSELLER The author of the legendary bestseller Influence, social psychologist Robert Cialdini shines a light on effective persuasion and reveals that the secret doesn’t lie in the message itself, but in the key moment before that message is delivered. What separates effective communicators from truly successful persuaders? Using the same combination of rigorous scientific research and accessibility that made his Influence an iconic bestseller, Robert Cialdini explains how to capitalize on the essential window of time before you deliver an important message. This “privileged moment for change” prepares people to be receptive to a message before they experience it. Optimal persuasion is achieved only through optimal pre-suasion. In other words, to change “minds” a pre-suader must also change “states of mind.” His first solo work in over thirty years, Cialdini’s Pre-Suasion draws on his extensive experience as the most cited social psychologist of our time and explains the techniques a person should implement to become a master persuader. Altering a listener’s attitudes, beliefs, or experiences isn’t necessary, says Cialdini—all that’s required is for a communicator to redirect the audience’s focus of attention before a relevant action. From studies on advertising imagery to treating opiate addiction, from the annual letters of Berkshire Hathaway to the annals of history, Cialdini draws on an array of studies and narratives to outline the specific techniques you can use on online marketing campaigns and even effective wartime propaganda. He illustrates how the artful diversion of attention leads to successful pre-suasion and gets your targeted audience primed and ready to say, “Yes.”
The Price of Civilization: American Values and the Return to Prosperity by
Call Number: HC106.84 .S23 2011 (Library West)
Publication Date: 2011
For more than three decades, Jeffrey D. Sachs has been at the forefront of international economic problem solving. But Sachs turns his attention back home in The Price of Civilization, a book that is essential reading for every American. He offers an urgent call for Americans to restore the virtues of fairness, honesty, and foresight as the foundations of national prosperity. As he has done in dozens of countries around the world Sachs turns his unique diagnostic skills to what ails the American economy. He finds that both political parties have missed the big picture, offering shortsighted solutions such as stimulus spending or tax cuts to address complex economic problems that require deeper solutions. Sachs argues that we have profoundly underestimated globalization’s long-term effects on our country, which create deep and largely unmet challenges with regard to jobs, incomes, poverty, and the environment. America’s single biggest economic failure, Sachs argues, is its inability to come to grips with the new global economic realities. Looking at domestic politics, geopolitics, social psychology, and the natural environment as well Sachs reveals the larger fissures underlying our country’s current crisis. He shows how Washington has consistently failed to address America’s economic needs. He describes a political system that has lost its ethical moorings. He also looks at the crisis in our culture, in which a consumption-driven populace in a ferocious quest for wealth now suffers shortfalls of social trust and compassion. Finally, Sachs offers a plan to turn the crisis around. He argues persuasively that the problem is not America’s abiding values, which remain generous and pragmatic, but the ease with which political spin and consumerism run circles around those values. He bids the reader to reclaim the virtues of good citizenship and mindfulness toward the economy and one another. Most important, he bids each of us to accept the price of civilization, so that together we can restore America to its great promise. The Price of Civilization is a masterly road map for prosperity, founded on America’s deepest values and on a rigorous understanding of the twenty-first-century world economy.
Presence: Bringing Your Boldest Self to Your Biggest Challenges by
Call Number: BF575.S39 C83 2015 (Library West, On Order)
Publication Date: Little, Brown, 2016. $28.00
Have you ever left a nerve-racking challenge and immediately wished for a do over? Maybe after a job interview, a performance, or a difficult conversation? The very moments that require us to be genuine and commanding can instead cause us to feel phony and powerless. Too often we approach our lives' biggest hurdles with dread, execute them with anxiety, and leave them with regret. By accessing our personal power, we can achieve "presence," the state in which we stop worrying about the impression we're making on others and instead adjust the impression we've been making on ourselves. As Harvard professor Amy Cuddy's revolutionary book reveals, we don't need to embark on a grand spiritual quest or complete an inner transformation to harness the power of presence. Instead, we need to nudge ourselves, moment by moment, by tweaking our body language, behavior, and mind-set in our day-to-day lives. Amy Cuddy has galvanized tens of millions of viewers around the world with her TED talk about "power poses." Now she presents the enthralling science underlying these and many other fascinating body-mind effects, and teaches us how to use simple techniques to liberate ourselves from fear in high-pressure moments, perform at our best, and connect with and empower others to do the same. Brilliantly researched, impassioned, and accessible, "Presence" is filled with stories of individuals who learned how to flourish during the stressful moments that once terrified them. Every reader will learn how to approach their biggest challenges with confidence instead of dread, and to leave them with satisfaction instead of regret.
The Price of Everything: Solving the Mystery of Why We Pay What We Do by
Call Number: HG223 .P67 2011 (Library West)
ISBN: 9781591843627. Portfolio Penguin, 296 p. $27.95
Publication Date: 2011
Many of the prices we pay seem to make little sense. We shell out $2.29 for coffee at Starbucks when a nearly identical brew can be had at the corner deli for less than a dollar. We may be less willing to give blood for $25 than to donate it for free. And we pay someone to cart away trash that would be a valuable commodity in poorer parts of the world. The Price of Everything starts with a simple premise: there is a price behind each choice, whether we're deciding to have a baby, drive a car, or buy a book. We often fail to appreciate just how critical prices are as motivating forces. But their power becomes clear when distorted prices steer our decisions the wrong way. Eduardo Porter uncovers the true story behind the prices we pay and reveals what those prices are actually telling us.
The Price of Inequality: How Today's Divided Society Endangers Our Future by
Call Number: HC110.I5 S867 2012 (Library West)
ISBN: 9780393088694.W.W.Norton&Co., 414 p., $27.96
Publication Date: 2012
The top 1 percent of Americans control 40 percent of the nation's wealth. And, as Joseph E. Stiglitz explains, while those at the top enjoy the best health care, education, and benefits of wealth, they fail to realize that "their fate is bound up with how the other 99 percent live." 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.
The Prince of Darkness: The Untold Story of Jeremiah G. Hamilton, Wall Street's First Black Millionaire by
Call Number: HG172.H36 W45 2015 (Library West, On Order)
Publication Date: St. Martin's, 2015. $27.99
In the middle decades of the nineteenth century Jeremiah G. Hamilton was a well-known figure on Wall Street. Cornelius Vanderbilt, America's first tycoon, came to respect, grudgingly, his one-time opponent. The day after Vanderbilt's death on January 4, 1877, an almost full-page obituary on the front of the National Republican acknowledged that, in the context of his Wall Street share transactions, "There was only one man who ever fought the Commodore to the end, and that was Jeremiah Hamilton." What Vanderbilt's obituary failed to mention, perhaps as contemporaries already knew it well, was that Hamilton was African American. Hamilton, although his origins were lowly, possibly slave, was reportedly the richest colored man in the United States, possessing a fortune of $2 million, or in excess of two hundred and $50 million in today's currency. In Prince of Darkness, a groundbreaking and vivid account, eminent historian Shane White reveals the larger than life story of a man who defied every convention of his time. He wheeled and dealed in the lily white business world, he married a white woman, he bought a mansion in rural New Jersey, he owned railroad stock on trains he was not legally allowed to ride, and generally set his white contemporaries teeth on edge when he wasn't just plain outsmarting them. An important contribution to American history, Hamilton's life offers a way into considering, from the unusual perspective of a black man, subjects that are usually seen as being quintessentially white, totally segregated from the African American past.
Private Equity at Work: When Wall Street Manages Main Street by
Call Number: HG4751 .A67 2014 (Library West)
Publication Date: Russell Sage Foundation, 2014. $35.00
Private equity firms have long been at the center of public debates on the impact of the financial sector on Main Street companies. Are these firms financial innovators that save failing businesses or financial predators that bankrupt otherwise healthy companies and destroy jobs? The first comprehensive examination of this topic, Private Equity at Work provides a detailed yet accessible guide to this controversial business model. Economist Eileen Appelbaum and Professor Rosemary Batt carefully evaluate the evidence including original case studies and interviews, legal documents, bankruptcy proceedings, media coverage, and existing academic scholarship to demonstrate the effects of private equity on American businesses and workers. They document that while private equity firms have had positive effects on the operations and growth of small and mid-sized companies and in turning around failing companies, the interventions of private equity more often than not lead to significant negative consequences for many businesses and workers. Prior research on private equity has focused almost exclusively on the financial performance of private equity funds and the returns to their investors. Private Equity at Work provides a new roadmap to the largely hidden internal operations of these firms, showing how their business strategies disproportionately benefit the partners in private equity firms at the expense of other stakeholders and taxpayers. In the 1980s, leveraged buyouts by private equity firms saw high returns and were widely considered the solution to corporate wastefulness and mismanagement. And since 2000, nearly 11,500 companies representing almost 8 million employees have been purchased by private equity firms. As their role in the economy has increased, they have come under fire from labor unions and community advocates who argue that the proliferation of leveraged buyouts destroys jobs, causes wages to stagnate, saddles otherwise healthy companies with debt, and leads to subsidies from taxpayers. Appelbaum and Batt show that private equity firms financial strategies are designed to extract maximum value from the companies they buy and sell, often to the detriment of those companies and their employees and suppliers. Their risky decisions include buying companies and extracting dividends by loading them with high levels of debt and selling assets. These actions often lead to financial distress and a disproportionate focus on cost-cutting, outsourcing, and wage and benefit losses for workers, especially if they are unionized. Because the law views private equity firms as investors rather than employers, private equity owners are not held accountable for their actions in ways that public corporations are. And their actions are not transparent because private equity owned companies are not regulated by the Securities and Exchange Commission. Thus, any debts or costs of bankruptcy incurred fall on businesses owned by private equity and their workers, not the private equity firms that govern them. For employees this often means loss of jobs, health and pension benefits, and retirement income. Appelbaum and Batt conclude with a set of policy recommendations intended to curb the negative effects of private equity while preserving its constructive role in the economy. These include policies to improve transparency and accountability, as well as changes that would reduce the excessive use of financial engineering strategies by firms. A groundbreaking analysis of a hotly contested business model, Private Equity at Work provides an unprecedented analysis of the little-understood inner workings of private equity and of the effects of leveraged buyouts on American companies and workers. This important new work will be a valuable resource for scholars, policymakers, and the informed public alike."
Pricing the Future: Finance, Physics, and the 300-Year Journey to the Black-Scholes Equation: A Story of Genius and Discovery by
Call Number: HG6024.A3 S97 2011 (Library West)
Publication Date: 2011
Options have been traded for hundreds of years, but investment decisions were based on gut feelings until the Nobel Prize–winning discovery of the Black-Scholes options pricing model in 1973 ushered in the era of the “quants.” Wall Street would never be the same. In Pricing the Future, financial economist George G. Szpiro tells the fascinating stories of the pioneers of mathematical finance who conducted the search for the elusive options pricing formula. From the broker’s assistant who published the first mathematical explanation of financial markets to Albert Einstein and other scientists who looked for a way to explain the movement of atoms and molecules,Pricing the Futureretraces the historical and intellectual developments that ultimately led to the widespread use of mathematical models to drive investment strategies on Wall Street.
The Process Matters: Engaging and Equipping People for Success by
Call Number: HD58.8.B76 2016 (Library West, On Order)
Publication Date: Princeton, 2016
We do business in a results-oriented world. Our focus on growth is laudable for its clarity, but one of its downsides is that firms can lose sight of the process: how business gets done and the individuals or employees through whom results are achieved. This leads to compromised decisions and unethical behavior. It is not just what we accomplish that matters but also how we accomplish it. In The Process Matters, Joel Brockner shows that managers have to do more than just meet targets and goals. They have to reach those ends in the right ways--with input, consistency, and accountability--if they want to effectively lead and manage in their organizations. Brockner discusses what goes into the right process, how it leads to better outcomes, why it is easier said than done, and how to overcome obstacles along the way. Brockner demonstrates that a high-quality process often costs little and may not even require a great deal of time. In light of these facts, he considers the puzzling question of why good business practice doesn't happen more often. Brockner draws from various real-life workplace examples--from Jay Leno's departure (twice) from his TV show, to the improvement of shooting accuracy in the U.S. Navy, to the surprising results of layoffs in Canada. He also factors in a wide swath of studies to examine such issues as the importance of perceived fairness in the process, the management of organizational change, and the encouragement of a strong sense of self in those involved in decisions--in short, the ways that managers can bring out the best in their people. Relevant to anyone who is in a managerial position--from the CEO on down--The Process Matters proves that seemingly simple differences in process can go a long way.
Producing Prosperity by
Call Number: HD9725.P57 2012 (Library West)
Publication Date: 2012-10-16
In Producing Prosperity, Harvard Business School professors Gary Pisano and Willy Shih (authors of the award-winning Harvard Business Review article Restoring American Competitiveness) vividly show the disastrous consequences of years of bad outsourcing decisions and underinvestment in manufacturing capability. They go on to reveal how todays undervalued manufacturing operations often hold the seeds of tomorrows innovative new products, arguing that companies must reinvest in the collective operational capabilities that underpin new product and process development in the U.S. industrial sector. It is only by reviving this industrial commons that we can build both the expertise and the manufacturing muscle to produce tomorrows hot productsfrom electronics and appliances to solar panels and next-generation batteriesto regain competitive advantage.
Productive Workplaces: Dignity, Meaning, and Community in the 21st Century by
Call Number: HD31 .W424 2012 e-book (MyiLibrary)
Publication Date: 2012
Strategy and Business 2012 Organizational Culture Book of the Year This third edition of the classic resource, Productive Workplaces is smart, well-written and well-researched, thoughtful, somewhat provocative, and a one-of-a-kind review of the integration of economics, technology, and people. It covers such topics as: the work on self as integral to organizational change; the revision of Lewinian concepts for a new era; and the history behind “getting everybody improving whole systems” as a response to fast change and increasing diversity (not the same as using any particular method). The themes, case studies (many revisited), and models are as relevant as ever.
The Profiteers: Bechtel and the Men Who Built the World by
Call Number: TA217.B4 D46 2016 (Library West, On Order)
Publication Date: Simon $ Schuster
From the bestselling coauthor of The Money and the Power (which the Los Angeles Times called “one of the most important nonfiction books published in a half century”)—the inside story of the Bechtel family and the empire they’ve controlled since the construction of the Hoover Dam. The tale of the Bechtel family dynasty is a classic American business story. It begins with Warren A. “Dad” Bechtel, who led a consortium that constructed the Hoover Dam. From that auspicious start, the family and its eponymous company would go on to “build the world,” from the construction of airports in Hong Kong and Doha, to pipelines and tunnels in Alaska and Europe, to mining and energy operations around the globe. Today Bechtel is one of the largest privately held corporations in the world, enriched and empowered by a long history of government contracts and the privatization of public works, made possible by an unprecedented revolving door between its San Francisco headquarters and Washington. Bechtel executives John McCone, Caspar Weinberger, and George P. Shultz segued from leadership at the company to positions as Director of the CIA, Secretary of Defense, and Secretary of State, respectively. Like all stories of empire building, the rise of Bechtel presents a complex and riveting narrative. In The Profiteers, Sally Denton, whom The New York Times called “a wonderful writer,” exposes Bechtel’s secret world and one of the biggest business and political stories of our time.
The Progress Principle: Using Small Wins to Ignite Joy, Engagement, and Creativity at Work by
Call Number: HF5549.5.M63 A58 2011 (Library West)
ISBN: 9781422198575. Harvard Business Review Press, 260 p., $25.00
Publication Date: 2011
What really sets the best managers above the rest? It’s their power to build a cadre of employees who have great inner work lives—consistently positive emotions; strong motivation; and favorable perceptions of the organization, their work, and their colleagues. The worst managers undermine inner work life, often unwittingly. As Teresa Amabile and Steven Kramer explain in The Progress Principle, seemingly mundane workday events can make or break employees’ inner work lives. But it’s forward momentum in meaningful work—progress—that creates the best inner work lives. Through rigorous analysis of nearly 12,000 diary entries provided by 238 employees in 7 companies, the authors explain how managers can foster progress and enhance inner work life every day. The book shows how to remove obstacles to progress, including meaningless tasks and toxic relationships. It also explains how to activate two forces that enable progress: (1) catalysts—events that directly facilitate project work, such as clear goals and autonomy—and (2) nourishers—interpersonal events that uplift workers, including encouragement and demonstrations of respect and collegiality. Brimming with honest examples from the companies studied, The Progress Principle equips aspiring and seasoned leaders alike with the insights they need to maximize their people’s performance.
Prosperity for All: How to Prevent Financial Crises by
Call Number: HD87.5.F37 2016 (Library West)
Publication Date: Oxford, 2017. $24.95
In the aftermath of the 2008 financial crisis, economists around the world have advanced theories to explain the persistence of high unemployment and low growth rates. According to Roger E. A. Farmer, these theories can be divided into two leading schools of thought: the ideas of pre-Keynesian scholars who blame the recession on bad economic policy, and the suggestions of "New Keynesian" scholars who propose standard modifications to select assumptions of Keynes' General Theory. But Farmer eschews both these schools of thought, arguing instead that in order to mitigate current financial crises-and prevent future ones-macroeconomic theory must become attuned to present-day conditions. Governments need to intervene in asset markets in a manner similar to the recent behavior of central banks, and principal actors in the international economy need to pursue financial stability. The primary mechanism for securing such stability would be for sovereign nations to create sovereign wealth funds backed by the present value of future tax revenues. These funds would function along the lines in which exchange-traded funds currently operate, and in time, they would become the backbone for stabilizing financial markets. Written in clear, accessible language by a prominent macroeconomic theorist, Prosperity for All proposes a paradigm shift and policy changes that could successfully raise employment rates, keep inflation at bay, and stimulate growth.
Pull: Networking and Success Since Benjamin Franklin by
Call Number: HD69.S8 L35 2006 (Library West)
ISBN: 0674019075. Harvard University Press, 2006. 439 p. $29.95
Redefining the way we view business success, Pamela Laird demolishes the popular American self-made story as she exposes the social dynamics that navigate some people toward opportunity and steer others away. Who gets invited into the networks of business opportunity? What does an unacceptable candidate lack? The answer is social capital—all those social assets that attract respect, generate confidence, evoke affection, and invite loyalty. In retelling success stories from Benjamin Franklin to Andrew Carnegie to Bill Gates, Laird goes beyond personality, upbringing, and social skills to reveal the critical common key—access to circles that control and distribute opportunity and information. She explains how civil rights activism and feminism in the 1960s and 1970s helped demonstrate that personnel practices violated principles of equal opportunity. She evaluates what social privilege actually contributes to business success, and analyzes the balance between individual characteristics—effort, innovation, talent—and social factors such as race, gender, class, and connections. In contrasting how Americans have prospered—or not—with how we have talked about prospering, Laird offers rich insights into how business really operates and where its workings fit within American culture. From new perspectives on entrepreneurial achievement to the role of affirmative action and the operation of modern corporate personnel systems, Pull shows that business is a profoundly social process, and that no one can succeed alone.
The Pursuit of Happiness: An Economy of Well-Being by
Call Number: HB74.P8 G733 2011 (Library West)
ISBN: 9780815721277. Brookings Institution Press, 164 p. $24.95
Publication Date: 2011
"Focuses on the role in the policymaking process of new metrics for measuring the effects on individual well-being of institutional, macroeconomic, and policy environments--for example, the effects of macroeconomic uncertainty and lack of access to health insurance--as well as the effects of factors such as commuting time, divorce, job status, and obesity"--Provided by publisher