The Entrepreneurial State

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 his provocative new book, Dr. Kai-Fu Lee - one of the world’s most respected experts on artificial intelligence - reveals that China has suddenly caught up to the US, the leader in AI, at an astonishingly rapid pace. Building upon his longstanding US-Sino technology career (working at Apple, Microsoft, and Google) and his much-heralded New York Times Op-Ed from June 2017, Dr. Lee predicts that Chinese and American AI will have a stunning impact on not just traditional blue-collar industries but will also have a devastating effect on white-collar professions.

In 2014, Francis Fukuyama wrote that American institutions were in decay, as the state was progressively captured by powerful interest groups. Two years later, his predictions were borne out by the rise to power of a series of political outsiders whose economic nationalism and authoritarian tendencies threatened to destabilize the entire international order. These populist nationalists seek direct charismatic connection to “the people”, who are usually defined in narrow identity terms that offer an irresistible call to an in-group and exclude large parts of the population as a whole.

What explains the spreading backlash against the global elite? In this revelatory investigation, Anand Giridharadas takes us into the inner sanctums of a new gilded age, showing how the elite follow a 'win-win' logic, fighting for equality and justice any way they can - except ways that threaten their position at the top. But why should our gravest problems be solved by consultancies, technology companies and corporate-sponsored charities instead of public institutions and elected officials? Why should we rely on scraps from the winners? 

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.   

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.  

Factfulness: The stress-reducing habit of carrying only opinions for which you have strong supporting facts. When asked simple questions about global trends - why the world's population is increasing; how many young women go to school; how many of us live in poverty - we systematically get the answers wrong. So wrong that a chimpanzee choosing answers at random will consistently outguess journalists, Nobel laureates, and investment bankers.

'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. 

For nearly 10 years, Ben Rhodes saw almost everything that happened at the center of the Obama administration - first as a speechwriter, then as deputy national security advisor, and finally as a multipurpose aide and close collaborator. He started every morning in the Oval Office with the President’s Daily Brief, traveled the world with Obama, and was at the center of some of the most consequential and controversial moments of the presidency. Now, he tells the full story of his partnership with a man who also happened to be a historic president of the United States.

"Correlation does not imply causation". This mantra has been invoked by scientists for decades and has led to a virtual prohibition on causal talk. But today, that taboo is dead. The causal revolution, sparked by Judea Pearl and his colleagues, has cut through a century of confusion and placed causality - the study of cause and effect - on a firm scientific basis. 

"The election happened," remembers Elizabeth Sherwood-Randall, then deputy secretary of the Department of Energy. "And then there was radio silence." Across all departments, similar stories were playing out: Trump appointees were few and far between; those that did show up were shockingly uninformed about the functions of their new workplace. Some even threw away the briefing books that had been prepared for them. Michael Lewis’ brilliant narrative takes us into the engine rooms of a government under attack by its own leaders.

In Adults in the Room, Yanis Varoufakis exposes the shocking reality of how power is wielded behind the scenes at the EU - and argues that only radical reform can save it from collapse. Yanis Varoufakis became globally famous when was elected finance minister of Greece with a specific mandate to say no to the EU: to reject the forced loans and crushing austerity forced upon his country by the Eurozone.

When Jean Tirole won the 2014 Nobel Prize in Economics, he suddenly found himself being stopped in the street by complete strangers and asked to comment on issues of the day, no matter how distant from his own areas of research. His transformation from academic economist to public intellectual prompted him to reflect further on the role economists and their discipline play in society. The result is Economics for the Common Good, a passionate manifesto for a world in which economics, far from being a "dismal science," is a positive force for the common good. 

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.

What is human consciousness, and how is it possible? This question fascinates thinking people from poets and painters to physicists, psychologists, and philosophers. From Bacteria to Bach and Back is Daniel C. Dennett's brilliant answer, extending perspectives from his earlier work in surprising directions, exploring the deep interactions of evolution, brains, and human culture.