American Economics

Victoria’s Secret is one of the most influential and polarizing brands to ever infiltrate the psyche of the American consumer. Almost right at its start in the late 1970s, the company developed a cult following for its glamorous catalogs. Back then, shoppers had few alternatives to the stodgy department stores that sold most of the nation’s intimate apparel. By 1982, the founders of Victoria’s Secret avoided bankruptcy by selling to Les Wexner, the fast-fashion pioneer behind the Limited, whose empire of mall brands would go on to dominate American retail for forty years.

A REAL WORLD JAMES BOND THRILLER Are you ready to dive into the complex world of international diplomacy? In American Eagle, Chinese Dragon, Dr. Eric Engle breaks down the complex relations among China, the US, and the EU, delivering an insightful analysis that will change how you view global power dynamics. WHAT WOULD you DO?In an ever-shifting geopolitical landscape, American Eagle, Chinese Dragon challenges you to understand global issues and ask yourself what you would do if faced with the same strategic decisions that world leaders encounter. You’ll get to understand why nations ...

With a nation seemingly more divided than ever, many worry that Americans risk losing ground on solving the complex, interrelated problems the country faces - including rising inequality, the specter of climate change, astronomical health care costs, and economic stagnation. The renowned economist Jeffrey D. Sachs offers a practical approach to move America toward a new consensus: sustainable development.

“Genius is one percent inspiration and ninety-nine percent perspiration.” This phrase, arguably Thomas Edison’s most famous quote, has been drilled into the minds of generations of Americans. A fairly straightforward iteration of the idea that innovation, discovery, and ingenuity are the result of drive and grit above all, it has also come to represent much darker myths: that hard work always leads to success and that achievement is the product of individuals and not communities.

Peabody and Emmy Award–winning journalist Jane Marie expands on her popular podcast The Dream to expose the scourge of multilevel marketing schemes and how they have profited off the evisceration of the American working class.

When author Jeff Hobbs arrived at Yale University, he became fast friends with the man who would be his college roommate for four years, Robert Peace. Robert's life was rough from the beginning in the crime-ridden streets of Newark in the 1980s, with his father in jail and his mother earning less than $15,000 a year. But Robert was a brilliant student, and it was supposed to get easier when he was accepted to Yale, where he studied molecular biochemistry and biophysics.

Before Bill Gross was known among investors as the Bond King, he was a gambler. In 1966, a fresh college grad, he went to Vegas armed with his net worth ($200) and a knack for counting cards. Ten thousand dollars and countless casino bans later, he was hooked, so he enrolled in business school. The Bond King is the story of how that whiz kid made American finance his casino.

Bankruptcy and the austerity it represents have become a common "solution" for struggling American cities. What do the spending cuts and limited resources do to the lives of city residents? In Broke, Jodie Adams Kirshner follows seven Detroiters as they navigate life during and after their city's bankruptcy.

Over 4,000 students gathered at the University of Michigan to hear Republican Party candidate Ron Paul speak. As he began to address the topics of monetary policy and the coming depression, a chant rose from the crowd, "End the Fed! End the Fed!" As dollar bills were lit on fire and thrown into the night skies, it became clear that the real problem, one that nobody in the media was talking about, was the central bank-an unconstitutional entity and a political, economic, and moral disaster.

Inflated examines this apparent conflict and makes the argument that such a world view is so ingrained in us that to expect the United States to live in a "deflated" world is simply unrealistic. It skillfully seeks to tell the story of, money inflation and public debt as enduring (and perhaps endearing) features of American life, rather than something we can one day overcome as our policy makers constantly promise.

VC tells the riveting story of how the industry arose from the United States' long-running orientation toward entrepreneurship. Venture capital has been driven from the start by the pull of outsized returns through a skewed distribution of payoffs - a faith in low-probability but substantial financial rewards that rarely materialize. Whether the gamble is a whaling voyage setting sail from New Bedford or the newest startup in Silicon Valley, VC is not just a model of finance that has proven difficult to replicate in other countries.

Like every other prospering democracy, the United States developed a mixed economy that channeled the spirit of capitalism into strong growth and healthy social development. In this bargain, government and business were as much partners as rivals. Public investments in education, science, transportation, and technology laid the foundation for broadly based prosperity.

In The Unwinding, George Packer, author of The Assassins’ Gate: America in Iraq, tells the story of the United States over the past three decades in an utterly original way, with his characteristically sharp eye for detail and gift for weaving together complex narratives. The Unwinding portrays a superpower in danger of coming apart at the seams, its elites no longer elite, its institutions no longer working, its ordinary people left to improvise their own schemes for success and salvation.

Respected scholar William Bennett reacquaints America with its heritage in the second volume of America: The Last Best Hope (Volume II). This engaging narrative slices through the cobwebs of time, memory, and prevailing cynicism to reinvigorate America with an informed patriotism.

From Lewis and Clark's 1804 expedition to the 2014 uprising in Ferguson, American history has been made in St. Louis. And as Walter Johnson shows in this searing book, the city exemplifies how imperialism, racism, and capitalism have persistently entwined to corrupt the nation's past. St. Louis was a staging post for Indian removal and imperial expansion, and its wealth grew on the backs of its poor Black residents, from slavery through redlining and urban renewal.

Built in the 1940s atop an infamous Italian slum, Cabrini-Green grew to 23 towers and a population of 20,000 - all of it packed onto just 70 acres a few blocks from Chicago's ritzy Gold Coast. Cabrini-Green became synonymous with crime, squalor, and the failure of government. For the many who lived there, it was also a much-needed resource - it was home. By 2011, every high-rise had been razed, the island of black poverty engulfed by the white affluence around it, the families dispersed.

In Privilege Lost, Jessi Streib traces the lives of over 100 youth born into the upper-middle-class. Following them for over 10 years as they transition from teens to young adults, Streib examines who falls from the upper-middle-class, how, and why don't they see it coming. In doing so, she reveals the patterned ways that individuals' resources and identities push them onto mobility paths - and the complicated choices youth make between staying true to themselves and staying in their class position.

A Washington Post reporter's intimate account of the fallout from the closing of a General Motors assembly plant in Janesville, Wisconsin - Paul Ryan's hometown - and a larger story of the hollowing of the American middle class. This is the story of what happens to an industrial town in the American heartland when its factory stills - but it's not the familiar tale. Most observers record the immediate shock of vanished jobs, but few stay around long enough to notice what happens next, when a community with a can-do spirit tries to pick itself up.

The American economy is strong in large part because nobody believes that America would ever default on its debt. Yet in 1933, Franklin D. Roosevelt did just that, when in a bid to pull the country out of depression, he depreciated the US dollar in relation to gold, effectively annulling all debt contracts. American Default is the story of this forgotten chapter in America's history.

Andrea Elliott follows eight dramatic years in the life of Dasani, a girl whose imagination is as soaring as the skyscrapers near her Brooklyn shelter. In this sweeping narrative, Elliott weaves the story of Dasani’s childhood with the history of her ancestors, tracing their passage from slavery to the Great Migration north. As Dasani comes of age, New York City’s homeless crisis has exploded, deepening the chasm between rich and poor. She must guide her siblings through a world riddled by hunger, violence, racism, drug addiction, and the threat of foster care.