Throughout history, rich and poor countries alike have been lending, borrowing, crashing--and recovering--their way through an extraordinary range of financial crises. Each time, the experts have chimed, "this time is different"--claiming that the old rules of valuation no longer apply and that the new situation bears little similarity to past disasters. This book proves that premise wrong. Covering sixty-six countries across five continents, This Time Is Different presents a comprehensive look at the varieties of financial crises, and guides us through eight astonishing centuries of government defaults, banking panics, and inflationary spikes--from medieval currency debasements to today's subprime catastrophe. Carmen Reinhart and Kenneth Rogoff, leading economists whose work has been influential in the policy debate concerning the current financial crisis, provocatively argue that financial combustions are universal rites of passage for emerging and established market nations. The authors draw important lessons from history to show us how much--or how little--we have learned. Using clear, sharp analysis and comprehensive data, Reinhart and Rogoff document that financial fallouts occur in clusters and strike with surprisingly consistent frequency, duration, and ferocity. They examine the patterns of currency crashes, high and hyperinflation, and government defaults on international and domestic debts--as well as the cycles in housing and equity prices, capital flows, unemployment, and government revenues around these crises. While countries do weather their financial storms, Reinhart and Rogoff prove that short memories make it all too easy for crises to recur. This Time Is Different exposes centuries of financial missteps.
Entrepreneurship has been expunged from contemporary mainstream economics despite being an important driver and cause of economic development and growth. However, whereas Evolutionary Economics recognizes value-creative entrepreneurship, its role and impact tend to still be understated and the vast implications not fully understood. This Element attempts to remedy this by theorizing on how entrepreneurship impacts and drives market economies, the implications for economic change and renewal, and how the pursuit of new value creation determines the evolution of an economy. We find that allowing for entrepreneurial new value creation – innovative entrepreneurship – produces a different and more dynamic understanding of the market as a process, the role of knowledge and uncertainty, economic evolution and progress, as well as has important implications for political economy.
Will there ever be another investing book like this? It's unlikely. University of Berkshire Hathaway is a remarkable retelling of the lessons, wisdom, and investment strategies handed down personally from Warren Buffett and Charlie Munger to shareholders during 30 years of their closed-door annual meetings. From this front row seat, you'll see one of the greatest wealth-building records in history unfold, year by year. If you're looking for dusty old investment theory, there are hundreds of other books waiting to cure you of insomnia. However, if you're looking for an investing book that's as personal as it is revelatory, look no further. Packed with Buffett and Munger's timeless, generous, and often hilarious wisdom, University of Berkshire Hathaway will keep serious investors turning pages late into the night: * Get unique insight into the thinking, strategies, and decisions--both good and bad--that made Buffett and Munger two of the world's greatest investors. * Understand the critical reasoning that leads Buffett and Munger to purchase a particular company, including their methods for assigning value. * Learn the central tenets of Buffett's value-investing philosophy "straight from the horse's mouth." * Enjoy Munger's biting wit as he goes after any topic that offends him. * Discover Buffett's distaste for "commonly accepted strategies" like modern portfolio theory. * See why these annual meetings are often called "an MBA in a weekend."
“It is impossible to grasp the meaning of the idea of sound money if one does not realize that it was devised as an instrument for the protection of civil liberties against despotic inroads on the part of governments.” – from The Theory of Money and Credit Originally published in 1912, Ludwig von Mises’s The Theory of Money and Credit remains today one of economic theory’s most influential and controversial treatises. Von Mises’s examination into monetary theory changed forever the world of economic thought when he successfully integrated “macroeconomics” into “microeconomics” —previously deemed an impossible task —as well as offering explanations into the origin, value and future of money. One hundred years later, von Mises and the Austrian school of economic theory are still fiercely debated by world economists in their search for the solution to America’s current financial crisis. His theorems continue to inspire politicians and market experts who aim to raise up the common man and reduce the financial power of governments. In a preface added in 1952, von Mises urges the people of the world to see economic truth: “The great inflations of our age are not acts of God. They are man-made or, to say it bluntly, government-made. They are the off-shoots of doctrines that ascribe to governments the magic power of creating wealth out of nothing and of making people happy by raising the ‘national income.’” “The best book on money ever written.” —Murray Rothbard, economist and historian “The greatest economist of the twentieth century.” —Sandeep Jaitly, economist
COMPTON CROOK AWARD FOR BEST FIRST NOVEL. NEBULA AWARD FINALIST. New Science Fiction Adventure Series! National Bestseller in trade paperback. An agent for a spy organization uncovers an alien alliance in nearby interstellar space—an alliance that will soon involve humanity in politics and war on a galactic scale. 2105, September: Intelligence Analyst Caine Riordan uncovers a conspiracy on Earth’s Moon—a history-changing clandestine project—and ends up involuntarily cryocelled for his troubles. Twelve years later, Riordan awakens to a changed world. Humanity has achieved faster-than-light travel and is pioneering nearby star systems. And now, Riordan is compelled to become an inadvertent agent of conspiracy himself. Riordan’s mission: travel to a newly settled world and investigate whether a primitive local species was once sentient—enough so to have built a lost civilization. However, arriving on site in the Delta Pavonis system, Caine discovers that the job he’s been given is anything but secret or safe. With assassins and saboteurs dogging his every step, it's clear that someone doesn't want his mission to succeed. In the end, it takes the broad-based insights of an intelligence analyst and a matching instinct for intrigue to ferret out the truth: that humanity is neither alone in the cosmos nor safe. Earth is revealed to be the lynchpin planet in an impending struggle for interstellar dominance, a struggle into which it is being irresistibly dragged. Discovering new dangers at every turn, Riordan must now convince the powers-that-be that the only way for humanity to survive as a free species is to face the perils directly—and to fight fire with fire. WINNER OF THE COMPTON CROOK AWARD FOR BEST FIRST NOVEL About Fire with Fire: “Chuck Gannon is one of those marvelous finds—someone as comfortable with characters as he is with technology, and equally adept at providing those characters with problems to solve. Imaginative, fun, and not afraid to step on the occasional toe or gore the occasional sacred cow, his stories do not disappoint.” —David Weber "If we meet strong aliens out there, will we suffer the fate of the Aztecs and Incas, or find the agility to survive? Gannon fizzes with ideas about the dangerous politics of first contact.” —David Brin "The plot is intriguing and then some. Well-developed and self-consistent; intelligent readers are going to like it." —Jerry Pournelle "[T]he intersecting plot threads, action and well-conceived science kept those pages turning." —SF Crowsnest About Starfire series hit, Extremis, coauthored by Charles E. Gannon: “Vivid. . . Battle sequences mingle with thought-provoking exegesis . . .” —Publishers Weekly "It’s a grand, fun series of battles and campaigns, worthy of anything Dale Brown or Larry Bond ever wrote." —Analog About Charles E. Gannon: "[A] strong [writer of]. . .military SF. . .[much] action going on in his work, with a lot of physics behind it. There is a real sense of the urgency of war and the sacrifices it demands." —Locus
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The incredible national bestseller that is changing people's lives -- and increasing their net worth! Can you spot the millionaire next door? Who are the rich in this country? What do they do? Where do they shop? What do they drive? How do they invest? How did they get rich? Can I even become one of them? Get the answers in The Millionaire Next Door, the never-before-told story about weath in America. You'll be surprised at what you find out....
- Perfecto para principiantes: Este juego de cuerdas clásico de nivel básico está diseñado específicamente para guitarristas principiantes con un equilibrio óptimo de calidez y proyección que es perfecto para estudiantes; Ideal para guitarras clásicas y guitaleles. - Tono cálido y duradero: este juego de nylon clásico tiene puntas atadas y contiene 3 agudos de nylon transparente y 3 bajos de nylon de cobre plateado para un tono cálido y duradero. - Cuerdas para todos los estilos: Desde jazz hasta metal pasando por rock, bluegrass, blues, folk y mucho más, fabricamos cuerdas de gran sonido para cada género y nivel, desde principiante hasta profesional, incluyendo cuerdas para bajo, acústicas, clásicas y de 12 cuerdas - Suena mejor, toca mejor: Compra toda nuestra colección de accesorios para guitarra, incluidos tensores, púas, correas, cejillas, afinadores, cables, fundas y estuches, además de cuerdas para banjo, mandolina, ukelele y mucho más. - Fabricadas en EE.UU.: Como el mayor y más respetado fabricante de accesorios musicales del mundo, las cuerdas de guitarra D'Addario se fabrican siguiendo las especificaciones más exigentes en nuestras vanguardistas instalaciones de producción de Nueva York.
Praise For Damn Right! From the author of the bestselling WARREN BUFFETT SPEAKS "Charlie Munger, whose reputation is deep and wide, based on an extraordinary record of brilliantly successful business strategies, sees things that others don’t. There is a method to his mastery and, through this book, we get a chance to learn about this rare individual." ――MICHAEL EISNER, Chairman and CEO, The Walt Disney Company "Janet Lowe uncovers the iconoclastic genius and subtle charm behind Charlie Munger’s curmudgeonly facade in this richly woven portrait of our era’s heir to Ben Franklin. With a biographer’s detachment, an historian’s thoroughness, and a financial writer’s common sense, Lowe produces a riveting account of the family, personal, and business life of this idiosyncratically complex and endlessly fascinating figure." ――LAWRENCE A. CUNNINGHAM, Cardozo Law School, Author of The Essays of Warren Buffett: Lessons for Corporate America "For years, Berkshire Hathaway shareholders and investors worldwide (me included) have struggled to learn more about Warren Buffett’s cerebral sidekick. Now we can rest and enjoy reading Janet Lowe’s book about this rare intellectual jewel called Charlie Munger." ――ROBERT G. HAGSTROM, Author of The Warren Buffett Way "Charlie has lived by the creed that one should live a life that doesn't need explaining. But his life should be explained. In a city where heroism is too often confused with celebrity, Charlie is a true hero and mentor. He lives the life lessons that he has studiously extracted from other true heroes and mentors, from Ben Franklin to Ben Graham. This book illuminates those life lessons." ――RONALD L. OLSON, Munger, Tolles & Olson LLP "Janet Lowe’s unprecedented access to Charlie Munger and Warren Buffett has resulted in a first-class book that investors, academics, and CEOs will find entertaining and highly useful." ――TIMOTHY P. VICK, Money Manager and Author of How to Pick Stocks Like Warren Buffett
This riveting sequel to the “glorious and touching” (USA TODAY) #1 New York Times bestseller picks up where It Ends with Us concluded and shares what happens next for Lily and Atlas. Lily and her ex-husband, Ryle, have just settled into a civil coparenting rhythm when she suddenly bumps into her first love, Atlas, again. After nearly two years separated, she is elated that for once, time is on their side, and she immediately says yes when Atlas asks her on a date. But her excitement is quickly hampered by the knowledge that, though they are no longer married, Ryle is still very much a part of her life—and Atlas Corrigan is the one man he will hate being in his ex-wife and daughter’s life. Switching between the perspectives of Lily and Atlas, It Starts with Us picks up right where the epilogue for the “gripping, pulse-pounding” (Sarah Pekkanen, New York Times bestselling author ) bestselling phenomenon It Ends with Us left off. Revealing more about Atlas’s past and following Lily as she embraces a second chance at true love while navigating a jealous ex-husband, it proves that “no one delivers an emotional read like Colleen Hoover” (Anna Todd, New York Times bestselling author).
From the author of The BFG and Matilda! Willy Wonka's famous chocolate factory is opening at last! But only five lucky children will be allowed inside. And the winners are: Augustus Gloop, an enormously fat boy whose hobby is eating; Veruca Salt, a spoiled-rotten brat whose parents are wrapped around her little finger; Violet Beauregarde, a dim-witted gum-chewer with the fastest jaws around; Mike Teavee, a toy pistol-toting gangster-in-training who is obsessed with television; and Charlie Bucket, Our Hero, a boy who is honest and kind, brave and true, and good and ready for the wildest time of his life!