The Great Economists

Who really creates wealth in our world? And how do we decide the value of what they do? At the heart of today's financial and economic crisis is a problem hiding in plain sight. In modern capitalism, value extraction is rewarded more highly than value creation: the productive process that drives a healthy economy and society. From companies driven solely to maximise shareholder value to astronomically high prices of medicines justified through big pharma's 'value pricing', we misidentify taking with making, and have lost sight of what value really means.

In September 2008 the Great Financial Crisis, triggered by the collapse of Lehman brothers, shook the world. A decade later its spectre still haunts us. As the appalling scope and scale of the crash was revealed, the financial institutions that had symbolised the West's triumph since the end of the Cold War, seemed - through greed, malice and incompetence - to be about to bring the entire system to its knees.  

Economics is broken. It has failed to predict, let alone prevent, financial crises that have shaken the foundations of our societies. Its outdated theories have permitted a world in which extreme poverty persists while the wealth of the super-rich grows year on year. And its blind spots have led to policies that are degrading the living world on a scale that threatens all of our futures. Can it be fixed?

Europe is an astonishingly successful place. In this dazzling new history, best-selling author Simon Jenkins grippingly tells the story of its evolution from warring peoples to peace, wealth and freedom - a story that twists and turns from Greece and Rome, through the Dark Ages, the Reformation and the French Revolution, to the Second World War and up to the present day. Jenkins takes in leaders from Julius Caesar and Joan of Arc to Wellington and Angela Merkel as well as cultural figures from Aristotle to Shakespeare and Picasso. 

Two Harvard professors explain the dangerous world we face today. Democracies can die with a coup d'état - or they can die slowly. This happens most deceptively when in piecemeal fashion, with the election of an authoritarian leader, the abuse of governmental power and the complete repression of opposition. All three steps are being taken around the world - not least with the election of Donald Trump - and we must all understand how we can stop them.

Penguin presents the audiobook edition of A Political History of the World by Jonathan Holslag, read by Roy McMillan. In 3,000 years of history, China has spent at least 11 centuries at war. The Roman Empire was in conflict during at least 50 percent of its lifetime. Since 1776, the United States has spent over 100 years at war. The dream of peace has been universal in the history of humanity. So why have we so rarely been able to achieve it? 

A revelatory and entertaining book about the pitfalls of how we measure our economy and how to correct them, by an award-winning editor of The Financial Times. According to GDP, the economy is in a golden era: economic growth has risen steadily over the past 70 years and shows no sign of stopping. But if this is the case, why are we living in such fractured times, with global populism on the rise and wealth inequality as stark as ever?

After the overwhelming horrors of the first half of the 20th century, described by Ian Kershaw in his previous book as having gone 'to hell and back', the years from 1950 to 2017 brought peace and relative prosperity to most of Europe. Enormous economic improvements transformed the continent. The catastrophic era of the world wars receded into an ever more distant past, though its long shadow continued to shape mentalities. Europe was now a divided continent, living under the nuclear threat in a period intermittently fraught with anxiety. 

Random House presents the audiobook edition of Talking to My Daughter About the Economy: A Brief History of Capitalism by Yanis Varoufakis. Why is there so much inequality? In this short book, world-famous economist Yanis Varoufakis sets out to answer his 11-year-old daughter Xenia's deceptively simple question. Using personal stories and famous myths, he explains what the economy is and why it has the power to shape our lives.

'All roads used to lead to Rome. Today, they lead to Beijing.' When The Silk Roads was published in 2015, it became an instant classic. A major reassessment of world history, it compelled us to look at the past from a different perspective. The New Silk Roads brings this story up to date, addressing the present and future of a world that is changing dramatically. Following the Silk Roads eastwards, from Europe through to China, by way of Russia and the Middle East, The New Silk Roads provides a timely reminder that we live in a world that is profoundly interconnected. 

Ever wondered why the gap between rich and poor nations is so great, or why it's so difficult getting a foot on the property ladder, or how to outwit Starbucks? This audiobook offers the hidden story behind these and other questions, as economist Tim Harford reveals how supermarkets, airlines, and coffee chains, to name just a few, are vacuuming money from our wallets.

In the 70,000 years that modern human beings have walked this earth, we've come a long way. Art, science, culture, trade - on the evolutionary food chain, we're real winners. But, frankly, it's not exactly been plain sailing, and sometimes - just occasionally - we've managed to really, truly, quite unbelievably f--k things up. From Chairman Mao's Four Pests Campaign to the sinking of the Titanic; from the American Dustbowl to the world's leading superpower electing a reality TV mogul as President...it's pretty safe to say that, as a species, we haven't exactly grown wiser with age. 

Getting to grips with Great Britain is harder than ever. We are a nation that chose Brexit, rejects immigration but is dependent on it, is getting older but less healthy, is more demanding of public services but less willing to pay for them, is tired of intervention abroad but wants to remain a global authority. We have an over-stretched, free health service (an idea from the 1940s that may not survive the 2020s), overcrowded prisons, a military without an evident purpose, an education system the envy of none of the Western world.  

Deep new rifts are tearing apart the fabric of Britain and other Western societies: thriving cities versus the provinces, the highly skilled elite versus the less educated, wealthy versus developing countries. As these divides deepen, we have lost the sense of ethical obligation to others that was crucial to the rise of post-war social democracy. So far these rifts have been answered only by the revivalist ideologies of populism and socialism, leading to the seismic upheavals of Trump, Brexit and the return of the far right in Germany. We have heard many critiques of capitalism but no one has laid out a realistic way to fix it, until now.   

Brilliant and engagingly written, Why Nations Fail answers the question that has stumped the experts for centuries: Why are some nations rich and others poor, divided by wealth and poverty, health and sickness, food and famine?