The Upside Of Inequality

The scourge of America’s economy isn't the success of the 1 percent—quite the opposite. The real problem is the government’s well-meaning but misguided attempt to reduce the payoffs for success. Four years ago, Edward Conard wrote a controversial bestseller, Unintended Consequences, which set the record straight on the financial crisis of 2008 and explained why U.S. growth was accelerating relative to other high-wage economies. He warned that loose monetary policy would produce neither growth nor inflation, that expansionary fiscal policy would have no lasting benefit on growth in the aftermath of the crisis, and that ill-advised attempts to rein in banking based on misplaced blame would slow an already weak recovery. Unfortunately, he was right. Now he’s back with another provocative argument: that our current obsession with income inequality is misguided and will only slow growth further. Using fact-based logic, Conard tracks the implications of an economy now constrained by both its capacity for risk-taking and by a shortage of properly trained talent—rather than by labor or capital, as was the case historically. He uses this fresh perspective to challenge the conclusions of liberal economists like Larry Summers and Joseph Stiglitz and the myths of “crony capitalism” more broadly. Instead, he argues that the growing wealth of most successful Americans is not to blame for the stagnating incomes of the middle and working classes. If anything, the success of the 1 percent has put upward pressure on employment and wages. Conard argues that high payoffs for success motivate talent to get the training and take the risks that gradually loosen the constraints to growth. Well-meaning attempts to decrease inequality through redistribution dull these incentives, gradually hurting not just the 1 percent but everyone else as well. Conard outlines a plan for growing middle- and working-class wages in an economy with a near infinite supply of labor that is shifting from capital-intensive manufacturing to knowledge-intensive, innovation-driven fields. He urges us to stop blaming the success of the 1 percent for slow wage growth and embrace the upside of inequality: faster growth and greater prosperity for everyone.

Summary and Analysis of The Upside of Inequality: How Good Intentions Undermine the Middle Class Based on the Book by Edward Conard So much to read, so little time? This brief overview of The Upside of Inequality tells you what you need to know—before or after you read Edward Conard’s book. Crafted and edited with care, Worth Books set the standard for quality and give you the tools you need to be a well-informed reader. This short summary and analysis of The Upside of Inequality includes: Historical context Chapter-by-chapter overviews Important quotes Fascinating trivia Glossary of terms Supporting material to enhance your understanding of the original work About The Upside of Inequality: How Good Intentions Undermine the Middle Class by Edward Conard: New York Times–bestselling author Edward Conard argues in favor of an American economic system that results in massive income inequality. Breaking down the causes of inequality while dispelling many of the myths surrounding stagnating wages and financial disparity for the the lower and middle classes, Conard dismisses the call for wealth redistribution. He, instead, makes the case for lower taxes, less regulation of banks, restricted immigration, and lower trade deficits. The summary and analysis in this ebook are intended to complement your reading experience and bring you closer to a great work of nonfiction.

American exceptionalism -- Exceptionalism and "unthinkability" -- Manifest Destiny and the American occupation of Haiti -- The American occupation and Haiti's exceptionalism -- Imperial exceptionalism at the turn of the 20th century -- Dictatorship, democratization, and exceptionalism -- The diaspora and the transmogrification of exceptionalism -- Identity politics and modern exceptionalism.

Environmental disasters. Terrorist wars. Energy scarcity. Economic failure. Is this the world's inevitable fate, a downward spiral that ultimately spells the collapse of societies? Perhaps, says acclaimed author Thomas Homer-Dixon - or perhaps these crises can actually lead to renewal for ourselves and planet earth. The Upside of Down takes the reader on a mind-stretching tour of societies' management, or mismanagement, of disasters over time. From the demise of ancient Rome to contemporary climate change, this spellbinding book analyzes what happens when multiple crises compound to cause what the author calls "synchronous failure." But, crisis doesn't have to mean total global calamity. Through catagenesis, or creative, bold reform in the wake of breakdown, it is possible to reinvent our future. Drawing on the worlds of archeology, poetry, politics, science, and economics, The Upside of Down is certain to provoke controversy and stir imaginations across the globe. The author's wide-ranging expertise makes his insights and proposals particularly acute, as people of all nations try to grapple with how we can survive tomorrow's inevitable shocks to our global system. There is no guarantee of success, but there are ways to begin thinking about a better world, and The Upside of Down is the ideal place to start thinking.

New edition with updated content In a world shaped by Covid-19 and characterised by fake news, manipulated feeds of information and divisive social-media agendas, it’s easy to believe that our time is the most challenging in human history. It’s just not true. It is a time of extraordinary opportunity. But only if you have the right mindset and attitude. Fear of the future breeds inaction and leads to strategic paralysis. Problem-solvers thrive in chaotic and uncertain times because they act to change their future. Winners recognise that in a world of growing uncertainty, you need to resort to actions on things you can control. A robust mindset is the one common characteristic Bruce Whitfield has identified in two decades of interrogating how South Africa’s billionaires and start-up mavericks think differently. They don’t ignore risk or hope that problems will go away. They constantly measure, manage, consider and weigh up opportunities in a tumultuous sea of uncertainty and find ways around obstacles. If, as Nobel Prize-winning economist Robert Shiller suggests, the stories we tell affect economic outcomes, then we need to tell different stories amidst the noise and haste of a rapidly evolving world.

America is in decline, and the rise of the East suggests a bleak future for the world's only superpower -- so goes the conventional wisdom. But what if the traditional measures of national status are no longer as important as they once were? What if America's well-being was assessed according to entirely different factors? In The Upside of Down, Charles Kenny argues that America's so-called decline is only relative to the newfound success of other countries. And there is tremendous upside to life in a wealthier world: Americans can benefit from better choices and cheaper prices offered by schools and hospitals in rising countries, and, without leaving home, avail themselves of the new inventions and products those countries will produce. The key to thriving in this world is to move past the jeremiads about America's deteriorating status and figure out how best to take advantage of its new role in a multipolar world. A refreshing antidote to prophecies of American decline, The Upside of Down offers a fresh and highly optimistic look at America's future in a wealthier world.

Stochastic Limit Theory, published in 1994, has become a standard reference in its field. Now reissued in a new edition, offering updated and improved results and an extended range of topics, Davidson surveys asymptotic (large-sample) distribution theory with applications to econometrics, with particular emphasis on the problems of time dependence and heterogeneity. The book is designed to be useful on two levels. First, as a textbook and reference work, giving definitions of the relevant mathematical concepts, statements, and proofs of the important results from the probability literature, and numerous examples; and second, as an account of recent work in the field of particular interest to econometricians. It is virtually self-contained, with all but the most basic technical prerequisites being explained in their context; mathematical topics include measure theory, integration, metric spaces, and topology, with applications to random variables, and an extended treatment of conditional probability. Other subjects treated include: stochastic processes, mixing processes, martingales, mixingales, and near-epoch dependence; the weak and strong laws of large numbers; weak convergence; and central limit theorems for nonstationary and dependent processes. The functional central limit theorem and its ramifications are covered in detail, including an account of the theoretical underpinnings (the weak convergence of measures on metric spaces), Brownian motion, the multivariate invariance principle, and convergence to stochastic integrals. This material is of special relevance to the theory of cointegration. The new edition gives updated and improved versions of many of the results and extends the coverage of many topics, in particular the theory of convergence to alpha-stable limits of processes with infinite variance.

"For the past several decades, politicians and economists have thought that high levels of inequality were good for the economy. But an economy that works only for the rich simply doesn't work. Because the middle class is so weak, America's economy now suffers from the kinds of problems that plague less-developed countries. Privileged elites more frequently secure special treatment from a government that wastes money and stifles competition. Children's opportunities are excessively determined by the wealth of their parents. Societal distrust has increased, making business transactions needlessly difficult. Consumer demand has weakened and become unstable, which has helped fuel the Great Recession and has made the recovery painfully slow. As Hollowed Out explains, to have strong and sustainable growth, the economy needs to work for everyone and grow from the middle out. This new middle-out theory aims to supplant trickle-down economics--the theory that was so wrong about inequality and our economy and did so much damage to our nation. This new thinking has the potential to shape economic policymaking for generations."--Provided by publisher.

Many Christians have an impending sense of doom about our country and the world. But are their fears based on reality or myth? In this book Wright examines issues of concern to Christians, including poverty, sickness, sexual morality, the environment, and the global church. Did you know that global poverty has been cut in half over the last several decades? That infant deaths have decreased dramatically in recent years? That Christianity is a growing and influential force in Asia and Africa? Maybe the world isn't in a downward spiral after all. In an age of pessimism, this book offers good news to Christian readers looking for glimpses of hope.

Offers an introduction to the principles of pre-calculus, covering such topics as functions, law of sines and cosines, identities, sequences, series, and binomials.

A World Turned Upside Down? poses two overarching questions for the new period opened by the Trump election and the continued growth of right-wing nationalisms. Is there an unwinding of neoliberal globalization taking place, or will globalization continue to deepen, but still deny the free cross-border movement of labor? Would such an unwinding entail an overall shift in power and accumulation to specific regions of the Global South that might overturn the current world order and foster the disintegration of the varied regional blocs that have formed? These questions are addressed through a series of essays that carefully map the national, class, racial, and gender dimensions of the state, capitalism, and progressive forces today. Sober assessment is crucial for the left to gain its political bearings in this trying period and the uncertainties that lie ahead.

The world is upside down. The emerging market countries are more important than many investors realise. They have been catching up with the West over the past few decades. Greater market freedom has spread since the end of the Cold War, and with it institutional changes which have further assisted emerging economies in becoming more productive, flexible, and resilient. The Western financial crisis from 2008 has quickened the pace of the relative rise of emerging markets - their relative economic power, and with it political power, but also their financial power as savers, investors and creditors. Emerging Markets in an Upside Down World - Challenging Perceptions in Asset Allocation and Investment argues that finance theory has misunderstood risk and that this has led to poor investment decisions; and that emerging markets constitute a good example of why traditional finance theory is faulty. The book accurately describes the complex and changing global environment currently facing the investor and asset allocator. It raises many questions often bypassed because of the use of simplifying assumptions and models. The narrative builds towards a checklist of issues and questions for the asset allocator and investor and then to a discussion of a variety of regulatory and policy issues. Aimed at institutional and retail investors as well as economics, finance, business and international relations students, Emerging Markets in an Upside Down World covers many complex ideas, but is written to be accessible to the non-expert.

The fun and easy way to learn pre-calculus Getting ready for calculus but still feel a bit confused? Have no fear. Pre-Calculus For Dummies is an un-intimidating, hands-on guide that walks you through all the essential topics, from absolute value and quadratic equations to logarithms and exponential functions to trig identities and matrix operations. With this guide's help you'll quickly and painlessly get a handle on all of the concepts — not just the number crunching — and understand how to perform all pre-calc tasks, from graphing to tackling proofs. You'll also get a new appreciation for how these concepts are used in the real world, and find out that getting a decent grade in pre-calc isn't as impossible as you thought. Updated with fresh example equations and detailed explanations Tracks to a typical pre-calculus class Serves as an excellent supplement to classroom learning If "the fun and easy way to learn pre-calc" seems like a contradiction, get ready for a wealth of surprises in Pre-Calculus For Dummies!

A science-backed guide for navigating and thriving through uncertainty—based on interviews and insights from world-renowned leaders, innovators, entrepreneurs, artists, and creatives. Whether you're searching for courage to start a new project, change careers, launch a business, develop an idea, or reinvent yourself after a disappointment or life change, you will face uncertainty—that ambiguous and uncomfortable state that often makes us feel confused, anxious, and afraid to act. Though these moments are difficult, they offer opportunities for personal growth, innovation, and creativity. In The Upside of Uncertainty, INSEAD professor Nathan Furr and entrepreneur Susannah Harmon Furr provide a sweeping guide to embracing uncertainty and transforming it into a force for good. Drawing from hundreds of interviews, along with pioneering research in psychology, innovation, and behavioral economics, Nathan and Susannah provide dozens of tools—including mental models, techniques, and reflections—for seeing the upside of uncertainty, developing a vision for what to do next, and opening ourselves up to new possibilities. In our fast-paced, ever-changing world, uncertainty is on the rise. We face it every day. But few of us have been taught the techniques to navigate it well. The Upside of Uncertainty provides the inspiration, tools, and strategies you need to thrive through the inevitable plot twists in your life and career.

The Upside-Down Kingdom calls readers to imagine and embody the reign of God on earth as it is in heaven. Since its publication in 1978, The Upside-Down Kingdom won the National Religious Book Award and has become the most trusted resource on radical Christian discipleship. In this completely updated anniversary edition, author Donald B. Kraybill asks: What does it mean to follow the Christ who traded victory and power for hanging out with the poor and forgiving his enemies? How did a man in first-century Palestine threaten the established order, and what does that mean for us today? Jesus turned expectations upside down. The kingdom of God is still full of surprises. Are you ready? Free downloadable study guide available here.

The author of The Willpower Instinct delivers a controversial and groundbreaking new book that overturns long-held beliefs about stress. More than forty-four percent of Americans admit to losing sleep over stress. And while most of us do everything we can to reduce it, Stanford psychologist and bestselling author Kelly McGonigal, Ph.D., delivers a startling message: Stress isn’t bad. In The Upside of Stress, McGonigal highlights new research indicating that stress can, in fact, make us stronger, smarter, and happier—if we learn how to embrace it. The Upside of Stress is the first book to bring together cutting-edge discoveries on the correlation between resilience—the human capacity for stress-related growth—and mind-set, the power of beliefs to shape reality. As she did in The Willpower Instinct, McGonigal combines science, stories, and exercises into an engaging and practical book that is both entertaining and life-changing, showing you: • how to cultivate a mind-set to embrace stress • how stress can provide focus and energy • how stress can help people connect and strengthen close relationships • why your brain is built to learn from stress, and how to increase its ability to learn from challenging experiences McGonigal’s TED talk on the subject has already received more than 7 million views. Her message resonates with people who know they can’t eliminate the stress in their lives and want to learn to take advantage of it. The Upside of Stress is not a guide to getting rid of stress, but a guide to getting better at stress, by understanding it, embracing it, and using it.

Leadership is not a destination. Leadership is an odyssey. A voyage of discovery, marked by changes of fortune and circumstances, informed by successes and failures. Defined by how you behaved and who you have become. The Upside of Being Myself and Other Leadership Stories is a unique opportunity to catch a breath, step back, and take a long, hard, reflective look at who you are as a leader and where your odyssey will take you. Powered by experience, informed by the reality of operating in today's harsh realities, and leveraging the insights gained from many leadership victories and defeats, each essay creates an opportunity for reflection, introspection and personal growth. The book spans almost every aspect of leadership, including the journey towards that mythical corner office, the agility and flexibility of styles required for sustained success, the art of crisp, concise communication and the need for an internal compass to guide you on your journey. Ian Russell draws on his 30 years of leadership experience from around the world, using his irreverent, light-hearted but thought-provoking prose to land key leadership messages. Further diverse and powerful leadership insights come from a number of contributing writers on politics, large corporate life, the public sector and entrepreneurial start-ups. The Upside of Being Myself and Other Leadership Stories is an investment of your time into your leadership odyssey. This is not an opportunity you can pass by. So pick up a copy, settle down and enjoy.

Thiis book interrogates the widespread claim that contemporary globalization has ended the centrality of the state in world affairs and is effectively irreversible. It offers discriminating definitions of globalization, internationalization and international interdependence and demonstrates the analytical and empirical difficulties generated by these concepts.

A book to challenge the status quo, spark a debate, and get people talking about the issues and questions we face as a country!

Following the metaphor of “the world upside-down,” this essay collection highlights the importance of the humanities in addressing, along with the sciences, pressing challenges in today’s rapidly changing world. Crossing across a variety of disciplines, historical periods, and regions in the world, this volume represents a useful tool for humanities scholars and students exploring the key role of our disciplines in public debates about pressing issues, such as the refugee crisis, climate change denialism, environmental justice, racism, and the current worldwide crisis of democracy. It provides practical examples of how societies throughout the world have historically coped with unexpected and distressing changes in government, core values, axiomatic systems, assumptions, beliefs, ideology, or cultural constructions. The feeling of topsy-turvy consternation as a result of sudden, harrowing change, as is shown here, is not new; rather, it has simply evolved throughout time and space.