Economy & Finance

China is a growing threat to democracy and liberal values around the world

SHORTLISTED FOR THE CMI MANAGEMENT BOOK OF THE YEAR INNOVATION AND ENTREPRENEURSHIP AWARDToday's consumers prefer the advantages of access over the hassles of ownership. It's not just internet services like Netflix and Spotify; even industrial firms like GE and Caterpillar are reinventing themselves as solutions providers. Whether you sell software, clothes, insurance, or industrial machines, you need to master the transition to the subscription model.Adapting to the subscription economy takes more than just deciding to sell subscriptions instead of products. You'll have to reinvent your company from the inside out -- from your accounting to your entire IT architecture. No matter how large or small your company, Subscribed gives you a practical, step-by-step framework to rebuild your business around a customer-centric, recurring revenue model.In ten years, we'll be subscribing to everything: information technology, transportation, retail, healthcare, even housing. Informed by insights straight from the servers of Zuora, the world's largest subscription finance platform, Subscribed is the book that explains how this shift really works -- and how business leaders can prepare and prosper.

McKinsey & Company's #1 best-selling guide to corporate valuation, now in its sixth edition Valuation is the single best guide of its kind, helping financial professionals worldwide excel at measuring, managing, and maximizing shareholder and company value.

'One of the greatest political memoirs of all time' (Guardian) -- The Sunday Times Number 1 BestsellerWhat happens when you take on the establishment? In this blistering, personal account, world-famous economist Yanis Varoufakis blows the lid on Europe's hidden agenda and exposes what actually goes on in its corridors of power.

In an ever-changing market, get the advantage of trading for yourself Day trading is undoubtedly the most exciting way to make your own money. Before you begin, you need three things: patience, nerves of steel, and a well-thumbed copy of Day Trading For Dummies.

How can we benefit from the promise of government while avoiding the threat it poses to individual freedom? Milton Friedman presents his view of the proper role of competitive capitalism both as a device for achieving economic freedom and a necessary condition for political freedom

'Impassioned, hugely informative, wonderfully controversial, and scary as hell' John le Carr Around the world in Britain, the United States, Asia and the Middle East, there are people with power who are cashing in on chaos; exploiting bloodshed and catastrophe to brutally remake our world in their image. They are the shock doctors.Exposing these global profiteers, Naomi Klein discovered information and connections that shocked even her about how comprehensively the shock doctors' beliefs now dominate our world - and how this domination has been achieved. Raking in billions out of the tsunami, plundering Russia, exploiting Iraq - this is the chilling tale of how a few are making a killing while more are getting killed. 'Packed with thinking dynamite ... a book to be read everywhere' John Berger 'If you only read one non-fiction book this year, make it this one' Metro Books of the Year 'There are a few books that really help us understand the present. The Shock Doctrine is one of those books' John Gray, Guardian 'A brilliant book written with a perfectly distilled anger, channelled through hard fact. She has indeed surpassed No Logo' Independent

An accessible and fun guide to the essential tools of econometric researchApplied econometrics, known to aficionados as 'metrics, is the original data science. 'Metrics encompasses the statistical methods economists use to untangle cause and effect in human affairs. Through accessible discussion and with a dose of kung fu-themed humor, Mastering 'Metrics presents the essential tools of econometric research and demonstrates why econometrics is exciting and useful.The five most valuable econometric methods, or what the authors call the Furious Five--random assignment, regression, instrumental variables, regression discontinuity designs, and differences in differences--are illustrated through well-crafted real-world examples (vetted for awesomeness by Kung Fu Panda's Jade Palace). Does health insurance make you healthier? Randomized experiments provide answers. Are expensive private colleges and selective public high schools better than more pedestrian institutions? Regression analysis and a regression discontinuity design reveal the surprising truth. When private banks teeter, and depositors take their money and run, should central banks step in to save them? Differences-in-differences analysis of a Depression-era banking crisis offers a response. Could arresting O. J. Simpson have saved his ex-wife's life? Instrumental variables methods instruct law enforcement authorities in how best to respond to domestic abuse.Wielding econometric tools with skill and confidence, Mastering 'Metrics uses data and statistics to illuminate the path from cause to effect.Shows why econometrics is importantExplains econometric research through humorous and accessible discussionOutlines empirical methods central to modern econometric practiceWorks through interesting and relevant real-world examples

THE DEFINITIVE BOOK ON HOW THE TECHNOLOGY BEHIND BITCOIN AND CRYPTOCURRENCY IS CHANGING THE WORLD. 'Blockchain Revolution is a highly readable introduction to a bamboozling but increasingly important field' - Guardian Blockchain is the ingeniously simple technology that powers Bitcoin. But it is much more than that, too. It is a public ledger to which everyone has access, but which no single person controls. It allows for companies and individuals to collaborate with an unprecedented degree of trust and transparency. It is cryptographically secure, but fundamentally open. And soon it will be everywhere. In Blockchain Revolution, Don and Alex Tapscott reveal: how this game-changing technology will shape the future of the world economy how it will improve everything from healthcare records to online voting, and from insurance claims to artist royalty paymentsBrilliantly researched and highly accessible, this is the essential text on the next major paradigm shift. Read it, or be left behind. -----'This book has had an enormous impact on the evolution of blockchain in the world' Satya Nadella, CEO, Microsoft 'Spectacular. Mind-blowing in its expansiveness and profundity' Steve Wozniak, co-founder of Apple 'Iconic' Clay Christensen, author of The Innovator's Dilemma 'Occasionally a book comes along that changes the global discourse. This is likely to be one of those books.' Klaus Schwab, Founder and Executive Chairman of the World Economic Forum

Howard Marks's The Most Important Thing distilled the investing insight of his celebrated client memos into a single volume and, for the first time, made his time-tested philosophy available to general readers. In this edition, Marks's wisdom is joined by the comments, insights, and counterpoints of four renowned investors and investment educators: Christopher C. Davis (Davis Funds), Joel Greenblatt (Gotham Capital), Paul Johnson (Nicusa Capital), and Seth A. Klarman (Baupost Group). These experts lend insight into such concepts as "e;second-level thinking,"e; the price/value relationship, patient opportunism, and defensive investing. Marks also adds his own annotations, expanding on his book's original themes and issues. A new chapter addresses the importance of reasonable expectations, and a foreword by Bruce C. Greenwald, called "e;a guru to Wall Street's gurus"e; by the New York Times, speaks on value investing, productivity, and the economics of information.***Howard Marks, the chairman and cofounder of Oaktree Capital Management, is renowned for his insightful assessments of market opportunity and risk. After four decades spent ascending to the top of the investment management profession, he is today sought out by the world's leading value investors, and his client memos brim with insightful commentary and a time-tested, fundamental philosophy. Now for the first time, all readers can benefit from Marks's wisdom, concentrated into a single volume that speaks to both the amateur and seasoned investor.Informed by a lifetime of experience and study, The Most Important Thing explains the keys to successful investment and the pitfalls that can destroy capital or ruin a career. Utilizing passages from his memos to illustrate his ideas, Marks teaches by example, detailing the development of an investment philosophy that fully acknowledges the complexities of investing and the perils of the financial world. Brilliantly applying insight to today's volatile markets, Marks offers a volume that is part memoir, part creed, with a number of broad takeaways.Marks expounds on such concepts as "e;second-level thinking,"e; the price/value relationship, patient opportunism, and defensive investing. Frankly and honestly assessing his own decisions--and occasional missteps--he provides valuable lessons for critical thinking, risk assessment, and investment strategy. Encouraging investors to be "e;contrarian,"e; Marks wisely judges market cycles and achieves returns through aggressive yet measured action. Which element is the most essential? Successful investing requires thoughtful attention to many separate aspects, and each of Marks's subjects proves to be the most important thing."e;This is that rarity, a useful book."e;--Warren Buffett

Im Tal der Windmühlen haben die Bewohner das Wünschen verlernt, denn sie besitzen Maschinen, die ihnen auf Knopfdruck perfekte Momente vorgaukeln. Nur Anna, die Schneiderin, hat sich das Träumen bewahrt. Und so glaubt sie ganz fest daran, dass Sie einem Riesen seinen Herzenswunsch erfüllen kann: Er möchte fliegen! Doch wie verhilft man einem Riesen dazu, schwerelos zu schweben wie eine Feder?Die farbgewaltigen Illustrationen zu Noelia Blancos fantastischer Geschichte stammen von der Argentinierin Valeria Docampo, Illustratorin des Bilderbuch-Bestsellers Die große Wörterfabrik. Auch für Im Garten der Pusteblumen setzt sie auf intensive und atmosphärische Bilder.

Until recently, Germany appeared to be a paragon of economic and political success. Angela Merkel was widely seen as the true 'leader of the free world', and Germany's export-driven economic model seemed to deliver prosperity. Recent events have called this view into question, as Germany's dependence on Russian gas has become a major liability. Wolfgang Munchau argues that the weaknesses of Germany's economy have, in fact, been brewing for decades. The neo-mercantilist policies of the German state, driven by close connections between the country's industrial and political elite, have enriched a small group of companies and shareholders but done little for the majority: the result has been spiralling income inequality. The dominance of industrial interests has left Germany technologically behind and thus slow to adapt to the digital realities of the 21st century. It has also caused an over-reliance on authoritarian countries such as Russia, leaving Germany isolated and vulnerable. This incisive analysis of the failures of Germany's business and political elites from one of Europe's leading commentators will be a must-read for anyone interested in contemporary geopolitics.

Great leaders embrace a higher purpose to win. The NetPromoter System shines as their guiding star.Fewmanagement ideas have spread so far and wide as the Net Promoter System (NPS).Since its conception almost two decades ago by customer loyalty guru FredReichheld, thousands of companies around the world have adopteditfrom industrial titans such as Mercedes-Benz and Cummins to techgiants like Apple and Amazon to digital innovators such as Warby Parker andPeloton.Now, Reichheld has raised the bar yet again. InWinning on Purpose, he demonstrates that the primary purposeof a business should be to enrich the lives of its customers. Why? Because whencustomers feel this love, they come back for more and bring their friendsgeneratinggood profits. This is NPS 3.0 and it puts a new take on the age-old GoldenRuletreat customers the way you would want a loved onetreatedat the heart of enduring business success. As the compellingexamples in this book illustrate, companies with superior NPS consistentlydeliver higher returns to shareholders across a wide array ofindustries.But winning on purpose isn't easy. Reichheld alsoexplains why many NPS practitioners achieve just a small fraction of the system'sfull potential, and he presents the newest thinking and best practices fordoing NPS right. He unveils the Earned Growth Rate (EGR): the first reliable,complementary accounting measure that can truly leverage the power ofNPS.With keen insight and moving personal stories, Reichheldadvances the thinking and practice of NPS. Winning onPurpose is your indispensable guide for inspiring customer lovewithin your own teams and using Net Promoter to achieve both personal and businesssuccess.

Get to better, more effective strategy.In nearly every business segment and corner of the world economy, the most successful companies dramatically outperform their rivals. What is their secret? In Better, Simpler Strategy, Harvard Business School professor Felix Oberholzer-Gee shows how these companies achieve more by doing less. At a time when rapid technological change and global competition conspire to upend traditional ways of doing business, these companies pursue radically simplified strategies. At a time when many managers struggle not to drown in vast seas of projects and initiatives, these businesses follow simple rules that help them select the few ideas that truly make a difference.Better, Simpler Strategy provides readers with a simple tool, the value stick, which every organization can use to make its strategy more effective and easier to execute. Based on proven financial mechanics, the value stick helps executives decide where to focus their attention and how to deepen the competitive advantage of their business.How does the value stick work? It provides a way of measuring the two fundamental forces that lead to value creation and increased financial success—the customer's willingness-to-pay and the employee's willingness-to-sell their services to the business. Companies that win, Oberholzer-Gee shows, create value for customers by raising their willingness-to-pay, and they provide value for talent by lowering their willingness-to-sell. The approach, proven in practice, is entirely data driven and uniquely suited to be cascaded throughout the organization.With many useful visuals and examples across industries and geographies, Better, Simpler Strategy explains how these two key measures enable firms to gauge and improve their strategies and operations. Based on the author's sought-after strategy course, this book is your must-have guide for making better strategic decisions.

In this anthology of essays and letters written between 2010-20, leading fund manager Terry Smith delights in debunking the many myths of investing - and making the case for simply buying the best companies in the world.

WHILE WE ARE LOOKING THE OTHER WAY, THE WORLD IS BEING STOLEN.

THE NEW QUESTIONTen years after the worldwide bestseller Good to Great, Jim Collins returns with another groundbreaking work, this time to ask: Why do some companies thrive in uncertainty, even chaos, and others do not?

"This delightfully written, lesson-laden book deserves a place of its own in the Baseball Hall of Fame." -Forbes

WINNER OF THE WOLFSON HISTORY PRIZE Paul Kennedy's international bestseller is a sweeping account of five hundred years of fluctuating economic muscle and military might.

This fully revised fifth edition continues to offer the authoritative introduction to today's global political economy and its historical context. O'Brien and Williams move beyond the traditional three-paradigm perspective to show how these theories can be applied and their efficacy in tackling key developments and issues. In doing so, the authors offer an all-encompassing analysis of the multiple theories, themes, and issues to create a comprehensive guide to the topic. The authors first trace the evolution of the global economy from its roots in fifteenth century through the Industrial Revolution, to the post-1945 world order. They then proceed to explore in more detail the dynamics of today's global political economy, providing systematic coverage of the key spheres of activity, from trade, production and finance to social divisions, development, the environment, ideas, security and governance. This edition includes new material on the Greek financial crisis and the changing role of the BRICS countries in global governance, as these developments upset the dominance of the US and Europe in the world economy today. Supported by multiple boxed exhibits, further reading links, and a fully-featured companion website, this text is designed to be as accessible as possible. Online, students will find essay and multiple choice questions, podcasts and videos, timelines, and other materials to help consolidate learning.

Naomi Klein, author of the #1 international bestsellers, The Shock Doctrine and No Logo, returns with This Changes Everything, a must-read on how the climate crisis needs to spur transformational political changeWe seem to have given up on any serious effort to prevent catastrophic climate change. Despite mounting scientific evidence, denialism is surging in many wealthy countries, and extreme fossil-fuel extraction gathers pace. Exposing the work of ideologues on the right who know the challenge this poses to the free market all too well, Naomi Klein also challenges the failing strategies of environmental groups. This Changes Everything argues that the deep changes required should not be viewed as punishments to fear, but as a kind of gift. It's time to stop running from the full implications of the crisis and begin to embrace them. Naomi Klein is an award-winning journalist, syndicated columnist and author of the international bestsellers, The Shock Doctrine and No Logo. She is a member of the board of directors for 350.org, a global grassroots movement to solve the climate crisis, a Puffin Foundation Writing Fellow at The Nation Institute, and a former Miliband Fellow at the LSE. She holds an honorary Doctor of Civil Laws from the University of King's College, Nova Scotia.

Penguin presents the audiobook edition of The Ascent of Money by Niall Ferguson, read by Gareth Armstrong. Behind each great historical phenomenon there lies a financial secret - Niall Ferguson uncovers the hidden stories behind history. Bread, cash, dosh, dough, loot. Call it what you like, it matters now more than ever. In The Ascent of Money, Niall Ferguson shows that finance is the foundation of all human progress and the lifeblood of history. From the cash injection that funded the Italian Renaissance to the stock market bubble that sparked the French Revolution, from the bonds that fuelled Britains war effort to the Wall Street Crash and todays meltdown, this is the story of boom and bust as its never been told before. Whether youre scraping by or rolling in it, theres no better time to understand the ascent of money.

This chilling, fascinating new book is the first fully to get to grips with how Hitler's Nazi empire REALLY functioned. There was no aspect of Nazi power untouched by economics - it was Hitler's obsession and the reason the Nazis came to power in the first place. The Second World War was fought, in Hitler's view, to create a European Empire strong enough to take on the United States - a last chance for Europe to dig itself in before being swept away by the USA's ever greater power. But, as THE WAGES OF DESTRUCTION makes clear, Hitler was never remotely strong enough to beat either Britain or the Soviet Union - and never even had a serious plan as to how he might defeat the USA. It took years of fighting and the deaths of millions of people to destroy the Third Reich, but effectively World War II in Europe was fought in pursuit of a fantasy: the years in which Western Europe could settle the world's fate were, by 1939, long past. This is a major book by a major author and will provoke an enormous amount of controversy and debate.

The governance of natural resources used by many individuals in common is an issue of increasing concern to policy analysts. Both state control and privatization of resources have been advocated, but neither the state nor the market have been uniformly successful in solving common pool resource problems. After critiquing the foundations of policy analysis as applied to natural resources, Elinor Ostrom here provides a unique body of empirical data to explore conditions under which common pool resource problems have been satisfactorily or unsatisfactorily solved. Dr Ostrom uses institutional analysis to explore different ways - both successful and unsuccessful - of governing the commons. In contrast to the proposition of the 'tragedy of the commons' argument, common pool problems sometimes are solved by voluntary organizations rather than by a coercive state. Among the cases considered are communal tenure in meadows and forests, irrigation communities and other water rights, and fisheries.