Donald Trump's top trade adviser Peter Navarro accused Germany of profiting from a 'grossly undervalued' currency. At the same time the President said countries such as Japan and China are responsible for 'global freeloading' due to their weak currencies.
Today, currency wars are raging across global markets, entering an even more dangerous phase, but they are nothing new. In this 5 year anniversary edition, James Rickards, two-time New York Times bestseller and Strategic Adviser to the US intelligence community, explores how currency wars are just as problematic now as they were in 1971 when President Nixon took the dollar off the gold standard.
Currency wars are one of the most destructive and feared outcomes in international economics; at best, they result in countries stealing growth from their trading partners; at worst, they degenerate into inflation, recession and actual violence. Rickards analyses the 2008 US financial crash, the debasement of the dollar, the European debt crisis, bailouts in Greece and Ireland and Chinese exchange rate manipulation, as a series of attacks and counter-attacks and ultimately as indications of growing global currency conflict. But, the author concludes, in currency wars, as in real wars, there are never any winners and without systematic reform, it could end with massive casualties on all sides.
In this special five year edition, featuring analysis of the 'Age of Trump' and encounters with Ben Bernanke, Tim Geithner and General Hayden, Rickards points the way towards a more effective course of action one that could stabilise the global economy and broker peace and prosperity for all.
Since the 1950s, Warren Buffett and his partners have backed some of the twentieth century's most profitable, trendsetting companies. But how did they know they were making the right investments? What did Buffet and his partners look for in an up-and-coming company, and how can others replicate their approach?
A gift to Buffett followers who have long sought a pattern to the investor's success, Inside the Investments of Warren Buffett presents the most detailed analysis to date of Buffett's long-term investment portfolio. Yefei Lu, an experienced investor, starts with Buffett's interest in the Sanborn Map Company in 1958 and tracks nineteen more of his major investments in companies like See's Candies, the Washington Post, GEICO, Coca-Cola, US Air, Wells Fargo, and IBM.
Accessing partnership letters, company documents, annual reports, third-party references, and other original sources, Lu pinpoints what is unique about Buffett's timing, instinct, use of outside knowledge, and postinvestment actions, and he identifies what could work well for all investors in companies big and small, domestic and global. His substantial chronology accounts for broader world events and fluctuations in the U.S. stock market, suggesting Buffett's most important trait may be the breadth of his expertise.
How modern economics abandoned classical liberalism and lost its way Milton Friedman once predicted that advances in scientific economics would resolve debates about whether raising the minimum wage is good policy. Decades later, Friedman's prediction has not come true. In Where Economics Went Wrong, David Colander and Craig Freedman argue that it never will. Why? Because economic policy, when done correctly, is an art and a craft. It is not, and cannot be, a science. The authors explain why classical liberal economists understood this essential difference, why modern economists abandoned it, and why now is the time for the profession to return to its classical liberal roots.
Carefully distinguishing policy from science and theory, classical liberal economists emphasized values and context, treating economic policy analysis as a moral science where a dialogue of sensibilities and judgments allowed for the same scientific basis to arrive at a variety of policy recommendations. Using the University of Chicago - one of the last bastions of classical liberal economics - as a case study, Colander and Freedman examine how both the MIT and Chicago variants of modern economics eschewed classical liberalism in their attempt to make economic policy analysis a science. By examining the way in which the discipline managed to lose its bearings, the authors delve into such issues as the development of welfare economics in relation to economic science, alternative voices within the Chicago School, and exactly how Friedman got it wrong.
Contending that the division between science and prescription needs to be restored, Where Economics Went Wrong makes the case for a more nuanced and self-aware policy analysis by economists.
How the blockchain-a system built on foundations of mutual mistrust - can become trustworthy.
The blockchain entered the world on January 3, 2009, introducing an innovative new trust architecture: an environment in which users trust a system-for example, a shared ledger of information - without necessarily trusting any of its components. The cryptocurrency Bitcoin is the most famous implementation of the blockchain, but hundreds of other companies have been founded and billions of dollars invested in similar applications since Bitcoin's launch. Some see the blockchain as offering more opportunities for criminal behavior than benefits to society. In this book, Kevin Werbach shows how a technology resting on foundations of mutual mistrust can become trustworthy.
The blockchain, built on open software and decentralized foundations that allow anyone to participate, seems like a threat to any form of regulation. In fact, Werbach argues, law and the blockchain need each other. Blockchain systems that ignore law and governance are likely to fail, or to become outlaw technologies irrelevant to the mainstream economy. That, Werbach cautions, would be a tragic waste of potential. If, however, we recognize the blockchain as a kind of legal technology that shapes behavior in new ways, it can be harnessed to create tremendous business and social value.
Inequality has drastically increased in many countries around the globe over the past three decades. The widening gap between the very rich and everyone else is often portrayed as an unexpected outcome or as the tradeoff we must accept to achieve economic growth. In this book, three International Monetary Fund economists show that this increase in inequality has in fact been a political choice-and explain what policies we should choose instead to achieve a more inclusive economy.
Jonathan D. Ostry, Prakash Loungani, and Andrew Berg demonstrate that the extent of inequality depends on the policies governments choose-such as whether to let capital move unhindered across national boundaries, how much austerity to impose, and how much to deregulate markets. While these policies do often confer growth benefits, they have also been responsible for much of the increase in inequality. The book also shows that inequality leads to weaker economic performance and proposes alternative policies capable of delivering more inclusive growth.
In addition to improving access to health care and quality education, they call for redistribution from the rich to the poor and present evidence showing that redistribution does not hurt growth. Accessible to scholars across disciplines as well as to students and policy makers, Confronting Inequality is a rigorous and empirically rich book that is crucial for a time when many fear a new Gilded Age.
The gig economy is a relatively recent term coined to describe a range of working arrangements that have previously been denoted as precarious, flexible and contingent. Borrowed from musicians, a gig describes a one-night performance, but in the context of general employment, it covers the self-employed who work for hire, those on temporary, short-term contracts and on zero-hours contracts.
In 2016, an estimated 7 million UK workers fell into this category, or 22.2 per cent of the workforce, a rise from 18.1 per cent in 2006. Given that the main thrust of employment protection and regulation over the past twenty years has been aimed at those in permanent, full-time employment, almost a quarter of working adults do not enjoy the benefits that such directives enforce. The ramifications of an increasingly insecure workforce are complex and have implications not only for individuals and employers, but for the economy and society in general.
Proponents of flexible working arrangements point to the opportunities the gig economy offers to unlock the potential of those who cannot work full-time and to how technology is changing the nature of work. Yet, those against it fear that it is simply driven by the corporate need to cut costs and reduce the administrative burden and legal responsibilities that accompany a permanent workforce.
In this concise overview, Alex de Ruyter and Martyn Brown explain the key facets of the gig economy and explore the dangers and potential it affords. Drawing on recent case-studies from the UK, Europe and the USA, it offers an authoritative guide through the theories and issues that surround the gig economy.
The Political Economy of Resources and Development offers a unique and multidisciplinary perspective on how the commodity boom of the mid-2000s reshaped the model of development throughout Latin America and elsewhere in the developing world. Governments increased taxes and royalties on the resource sector, the nationalization of foreign firms returned to the mainstream economic policy agenda, and public spending on social and developmental goals surged. These trends, often described as resource nationalism, have developed into a strategy for economic development, generated a re-imagining of the state and its institutional possibilities, and created a new but very significant political risk for extractive enterprises.
However, these innovations, which constitute the most dramatic change in development policy in Latin America since the advent of neoliberalism, have so far received little attention from either academic or policy-oriented publications. This book explores the reasons behind these policies, and their effects on states, firms, and development trajectories. This text brings together renowned thematic experts to examine the political-economic causes of resource nationalism, as well as its manifestation in six Latin American countries. The causal variables considered by the contributors to this collection include a range of political-economic determinants of policy including commodity prices; the influence of ideology and national politics; ideas about industrial policy; relations between host governments and investors; and how countries respond to opportunities provided by regional initiatives and the new geography of the global economy.
This volume is essential reading in development economics, political economy, and Latin American studies, as well as for those who want to understand what economic development means after neoliberalism.
An essential guide for anyone contemplating a career as a doctor, by one of Australia's finest practitioners - and writers 2018 finalist book for The Australian Career Book Award - supported by the Royal Society of Arts in Australia and New Zealand What is the life of a doctor really like? Is there an end to studying? Are money and prestige guaranteed? Can a fulfilling medical career and a satisfying family life co-exist and what support can a parent or partner give? Which doctors are the happiest? What is the most important question to ask yourself before studying medicine?
An insider's calm and considered answers could determine whether you choose to pursue this high-stakes career.
Becoming a doctor is a tremendous privilege and a serious responsibility. With her trademark warmth and story-telling ability, Ranjana Srivastava delves into the reality of being a doctor in the modern era of medicine. Through lived experience as a front-line clinician, prolific writer, and mother, she celebrates the highlights of being a doctor but doesn't flinch from the disappointments. Her compelling stories illustrate the hidden facets of a life in medicine. From the burden of prolonged medical training and the regret of mismatched expectations, to the humility of caring and the joy of making a difference, this book contains illuminating observations, reflection and advice that should be required reading for anyone contemplating a career as a doctor.
'Deciding to study medicine is a momentous decision, and Ranjana Srivastava has created a long overdue and indispensable guide peppered with invaluable advice and insights - a must-read.' Dr Michael Carr-Gregg, Adolescent Psychologist
The fact that I'm sitting here writing a business book when, at school, I was the student who read the crib notes rather than the actual books is rather ironic. However, if I've proved anything over the years, it's that you needn't be the smartest girl in the room or get the highest marks (heck, I didn't even go to uni!) to succeed in PR or business. If I can do it, anyone can. The trick is to be willing to give up your excuses and consistently put in the work.
Roxy Jacenko built a PR empire on intuition, common sense and an unbreakable work ethic. Now she's passing on her best business advice, tips and tricks in a handsome handbag-sized volume that's perfectly sized for the millennial worker on the run. From writing a stand-out application to building your brand to generating killer social media buzz, Roxy's Little Black Book is a must-read resource for aspiring publicists and business builders, and for anyone already in the PR industry.
Optimizing Digital Strategy explores the choices facing organizations in the rapidly changing world of technology-enabled business. From performance marketing through to personalization, on-demand retailing and AI, this book maps out commercial and customer-focused challenges and explains how leaders can get the most out of their digital strategies. Rather than rushing headlong into adopting the latest digital platforms, tools and technologies, the book challenges leaders to step back from the demands for constant investment in new technology and drive better returns from existing assets. Presenting a sustainable model of e-commerce that is appropriate to any individual organization's needs, Optimizing Digital Strategy addresses the repetitive dilemma between even more investment in technology and the need to improve margins and grow revenue. Illustrated by the authors' own digital work for global brands such as The Economist, Sky, O2, Regus, the Financial Times, Lidl and L.K.Bennett, this book shows how to balance the need to remain competitive, fully deliver customer expectations, and put resources behind investments that will deliver the best return.
Dr. Kai-Fu Lee-one of the world's most respected experts on AI and China-reveals that China has suddenly caught up to the US at an astonishingly rapid and unexpected pace.
In AI Superpowers , Kai-fu Lee argues powerfully that because of these unprecedented developments in AI, dramatic changes will be happening much sooner than many of us expected. Indeed, as the US-Sino AI competition begins to heat up, Lee urges the US and China to both accept and to embrace the great responsibilities that come with significant technological power. Most experts already say that AI will have a devastating impact on blue-collar jobs. But Lee predicts that Chinese and American AI will have a strong impact on white-collar jobs as well.
Is universal basic income the solution? In Lee's opinion, probably not. But he provides a clear description of which jobs will be affected and how soon, which jobs can be enhanced with AI, and most importantly, how we can provide solutions to some of the most profound changes in human history that are coming soon.
Put aside all the hypey new frameworks, the listicles, the 10 best things you need to succeed as a leader today. The critical leadership practices - the ones that will allow a leader to make the biggest impact over time - are already well established. They're about how you relate to others. How you make difficult strategic choices. How you get results. How you scan the landscape around you, build a vision for the future, and inspire people to follow you. In fact, these fundamental skills are becoming more important today as organizations and teams become increasingly networked and fragmented and the nature of leadership hierarchies changes.
What's hard is actually doing these things - and excelling at them. In this book, strategy and change experts Ron Ashkenas and Brook Manville distill the best proven ideas and frameworks about leadership from Harvard Business Review and from their careers in leadership development and transformation into a concise handbook that shows rising leaders how to have the most impact on their organizations. You'll learn how to build a unifying vision, set strategy, manage for results, hire and inspire great leaders and teams, drive innovation, and, finally, lead yourself on your own career journey.
Each chapter of the book describes one of these six practices in depth, discussing the pitfalls that real leaders face and how to overcome them, with insights from well-known leaders such as Stanley McChrystal, Dominic Barton, Darren Walker, Jack Welch, and Ann Mulcahy. Each chapter also synthesizes the best Harvard Business Review thinking on the topic. This book gives you the tools you need to have more impact as a leader today, and into the future.
We've combed through the ideas, insights, and best practices from the past year of Harvard Business Review to help you get up to speed fast on the relevant concepts driving business today. Discover new ideas and sample the work from our vast cabinet of experts and their smart management thinking. Revisit these topics now to make sure you're incorporating the brightest, most up-to-date practices in your organization, or keep it as a reference to access these memorable pieces when you need them most. The collection includes articles on leadership, strategy, and innovation, as well as content to help you manage yourself and others. A year's worth of management wisdom, all in one place.
Boasting sales of more than 180,000 copies, "Fundamentals of Project Management "has helped generations of project managers navigate the ins and outs of every aspect of this complex discipline. But much has changed in recent years.
Fully updated in accordance with the latest version of the" Project Management Body of Knowledge" (PMBOK(R)), the fifth edition of this classic text remains the perfect introduction to the subject, showing readers how to: Clarify project goals and objectives - Develop a work breakdown structure - Create a project risk plan - Produce a realistic schedule - Manage change requests - Control and evaluate progress at every stage - Lead the project team The book contains new information and expanded coverage on topics including estimating; stakeholder management; procurement management; creating a communication plan; project closure; requirements for PMP certification; and much more.
Chock full of tools, techniques, examples, and instructive exercises, this up-to-the-minute guide will help you plan and execute projects on time, on budget--and with maximum efficiency.
Nearly everyone within a company is involved in selling at one level or another. Yet, the majority of those people are not professional frontline salespeople - they have never received any training in selling or in dealing with customers. As a result, opportunities are missed and, worst, you may even have wrecked the relationship with the customer for the long term.
Selling Skills for Complete Amateurs presents a set of basic skills for selling, aimed exclusively at those people who have never been trained in the art of selling. Based on the successful courses which the author has been running for over ten years for beginners in sales, this book is intended to enable anyone to make a sound contribution to the overall sales process.
10 reasons you must buy this book and stop wrecking sales efforts in your organisation!
1. Amateurs make 10 fatal selling statements that instantly turn customers off.
2. You can cut objections to your sales pitch by up to 90% (and deal easily with the remaining few) using a proven method.
3. A truly persuasive sales letter doesn't look anything like the attempts that amateurs make.
4. No validated research supports the business folklore that sales objections are buying signals in disguise - in fact they have the opposite effect!
5. Unconscious emotional need - that's what you need to generate when your customer is at the point of making a buying decision.
6. There are two key human attributes which you can use to encourage customers to persuade themselves for you.
7. Telling isn't selling - what can you do to make a massive change in the outcome of your next meeting with a customer?
8. Prolonging the investigative phase of your sale increases customer desire for the solution your product provides.
9. You don't want to be marooned in great-presentation-we'll-call-you-soon limbo.
10. Wake up to the real cause of the commonest objection of all - You're too expensive - and discover what you can do to stop it immediately.
In The Learning Imperative Mark Burns and Andy Griffith examine the key ingredients that ensure effective learning, and offer leaders step-by-step guidance on how they can achieve it in their own teams and organisations.
Learning is central to the long-term success of any team - and is far too important to dismiss or to relegate to a `nice to do' list. In The Learning Imperative, bestselling authors Burns and Griffith explore the common barriers to effective learning and present a range of practical tools and strategies to help teams bring about - and reap the benefits of - a more positive culture around training and development.
Together they map out the key stages of the learning journey and provide a comprehensive guide for team leaders and managers who want to improve learning in their teams. They also share essential advice on the design and delivery of effective training programmes, and punctuate their instruction with a range of illuminating case studies drawn from real-life contexts across the public, private and third sectors.
The book has been split into three sections. Part I sets out why creating and maintaining a learning team needs to be a high priority, and provides an easy-to-use framework to help leaders establish their team's starting points. Part II is designed to assist leaders in fostering an open-to-learning mindset in their teams - offering tools to diagnose any closed-to-learning mindsets and supplying straightforward strategies to facilitate team members' development in becoming habitually reflective, curious and responsive to feedback. The final part of the book concerns the designing and leading of effective learning, whether it is packaged within a one-off session or a multi-session programme, and will help leaders ensure that the learning their team participates in is engaging, appropriately challenging and, most importantly, will develop their performance.
Whether you are an experienced leader or just starting out in the role, this user-friendly manual will empower you to boost your team's performance and to make a powerful impact on their learning.
A guide for women on how to overcome barriers in the workplace and move into leadership positions.
As a woman, you may not be reaching the levels of leadership you desire. Despite the many efforts by organizations and managers alike, unconscious bias and assumptions are still working against you. How can you plan a career as an aspiring leader if you can't get promoted?
The HBR Guide for Women at Work will help you identify and overcome the factors that are preventing you from achieving your goals. It provides practical tips and advice so you can face gendered stereotypes head on, make yourself visible for opportunities, and demonstrate your leadership potential.
What makes WiFi faster at home than at a coffee shop? How does Google order search results? Is it really true that everyone on Facebook is connected by six steps or less? The Power of Networks answers questions like these for the first time in a way that all of us can understand. 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 and accessible introduction to the handful of big ideas that drive the computer networks we use every day. The Power of Networks unifies these ideas through six fundamental principles of networking. These principles explain the difficulties in sharing network resources efficiently, how crowds can be wise or not so wise depending on the nature of their connections, why there are many layers in a network, and more. 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.
Swift Programming in easy steps teaches programming novices the skills required to create their own Apple Apps, whilst assisting programmers to gain new skills. For anyone seeking to discover the easiest way to create apps for Apple devices.