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Author: Angela Cummine Publisher: Yale University Press ISBN: 030021894X Category : Business & Economics Languages : en Pages : 295
Book Description
A wide-ranging analysis of a powerful but controversial new economic tool that has rapidly eclipsed the size of the hedge fund market In 2006, Chile teemed with protesters after finance minister Andrés Velasco invested budget surpluses from the nation's historic copper boom in two Sovereign Wealth Funds. A year later, when prices plummeted and unemployment soared, Chile's government was able to stimulate recovery by drawing on the funds. State-owned investment vehicles that hold public funds in a wide range of assets, Sovereign Wealth Funds enable governments to access an unprecedented degree of wealth. Consequently, more countries are seeking to establish them. Looking at Chile, China, Australia, Singapore, and numerous other examples, including a comparative analysis of Britain and Norway's use of oil revenues, Angela Cummine tackles the key ethical questions surrounding their use, including: To whom does the wealth belong? How should the funds be managed, invested, and distributed? With sovereign funds--and media attention--continuing to grow, this is an invaluable look at a hotly debated economic issue.
Author: Angela Cummine Publisher: Yale University Press ISBN: 030021894X Category : Business & Economics Languages : en Pages : 295
Book Description
A wide-ranging analysis of a powerful but controversial new economic tool that has rapidly eclipsed the size of the hedge fund market In 2006, Chile teemed with protesters after finance minister Andrés Velasco invested budget surpluses from the nation's historic copper boom in two Sovereign Wealth Funds. A year later, when prices plummeted and unemployment soared, Chile's government was able to stimulate recovery by drawing on the funds. State-owned investment vehicles that hold public funds in a wide range of assets, Sovereign Wealth Funds enable governments to access an unprecedented degree of wealth. Consequently, more countries are seeking to establish them. Looking at Chile, China, Australia, Singapore, and numerous other examples, including a comparative analysis of Britain and Norway's use of oil revenues, Angela Cummine tackles the key ethical questions surrounding their use, including: To whom does the wealth belong? How should the funds be managed, invested, and distributed? With sovereign funds--and media attention--continuing to grow, this is an invaluable look at a hotly debated economic issue.
Author: Wade Rathke Publisher: Berrett-Koehler Publishers ISBN: 1609944542 Category : Political Science Languages : en Pages : 207
Book Description
America’s safety net is torn and tattered. Income inequality continues to grow—the gap between rich and poor has expanded fivefold in the last 25 years. For millions of working families achieving basic middle class comforts has begun to seem as distant a dream as winning the lottery. What is needed, and what veteran organizer and ACORN founder Wade Rathke provides in this hard-hitting new book, is a comprehensive grassroots strategy to create what he calls citizen wealth: an enduring foundation on which working people can build a future that extends beyond paying next month’s rent. Rathke shares breakthrough strategies that have enabled ACORN and other organizations help people secure the basics of citizen wealth—a house and a decent income—offering from-the-trenches advice on mounting successful living wage campaigns, battling unscrupulous and predatory lending practices, and developing new forms of worker organizations to protect wages and benefits. The anti-poverty programs still out there can provide critical support for citizen wealth-building efforts, but they’re woefully underutilized. Rathke shows how to cut through government indifference and bureaucratic obstacles to provide those in need with access to these vital resources. But community organizations can’t do it alone. Rathke describes ACORN partnerships with HSBC Bank and H & R Block that helped these businesses see building citizen wealth as a new market opportunity—a win for them and for the people they once exploited. And he looks at other examples of strange bedfellows in the fight for citizen wealth, including Citibank, once the target of massive protests by ACORN and now, working with them, a major investor in working class communities. “We need to create a national economic and political consensus that increasing family income, wealth and assets is not `welfare’ or an entitlement ‘give-away” program but an investment in the public good and well-being.” Rathke writes. Based on forty years of hard-won experience, Wade Rathke offers a new blueprint for helping millions to achieve the American Dream.
Author: Andrew Carnegie Publisher: Gray Rabbit Publishing ISBN: 9781515400387 Category : Social Science Languages : en Pages : 34
Book Description
Before the 99% occupied Wall Street... Before the concept of social justice had impinged on the social conscience... Before the social safety net had even been conceived... By the turn of the 20th Century, the era of the robber barons, Andrew Carnegie (1835-1919) had already accumulated a staggeringly large fortune; he was one of the wealthiest people on the globe. He guaranteed his position as one of the wealthiest men ever when he sold his steel business to create the United States Steel Corporation. Following that sale, he spent his last 18 years, he gave away nearly 90% of his fortune to charities, foundations, and universities. His charitable efforts actually started far earlier. At the age of 33, he wrote a memo to himself, noting ..".The amassing of wealth is one of the worse species of idolatry. No idol more debasing than the worship of money." In 1881, he gave a library to his hometown of Dunfermline, Scotland. In 1889, he spelled out his belief that the rich should use their wealth to help enrich society, in an article called "The Gospel of Wealth" this book. Carnegie writes that the best way of dealing with wealth inequality is for the wealthy to redistribute their surplus means in a responsible and thoughtful manner, arguing that surplus wealth produces the greatest net benefit to society when it is administered carefully by the wealthy. He also argues against extravagance, irresponsible spending, or self-indulgence, instead promoting the administration of capital during one's lifetime toward the cause of reducing the stratification between the rich and poor. Though written more than a century ago, Carnegie's words still ring true today, urging a better, more equitable world through greater social consciousness.
Author: Michael Drosnin Publisher: Crown ISBN: 0767919343 Category : Biography & Autobiography Languages : en Pages : 545
Book Description
Portrayed by Leonardo DiCaprio in the Martin Scorsese movie The Aviator, Howard Hughes is legendary as a playboy and pilot—but he is notorious for what he became: the ultimate mystery man. Citizen Hughes is the New York Times bestselling exposé of Hughes’s hidden life, and a stunning revelation of his “megalomaniac empire in the emperor’s own words” (Newsweek). At the height of his wealth, power, and invisibility, the world’s richest and most secretive man kept what amounted to a diary. The billionaire commanded his empire by correspondence, scrawling thousands of handwritten memos to unseen henchmen. It was the only time Howard Hughes risked writing down his orders, plans, thoughts, fears, and desires. Hughes claimed the papers were so sensitive—“the very most confidential, almost sacred information as to my innermost activities”—that not even his most trusted aides or executives were allowed to keep the messages he sent them. But in the early-morning hours of June 5, 1974, unknown burglars staged a daring break-in at Hughes’s supposedly impregnable headquarters and escaped with all the confidential files. Despite a top-secret FBI investigation and a million-dollar CIA buyback bid, none of the stolen secret papers were ever found—until investigative reporter Michael Drosnin cracked the case. In Citizen Hughes, Drosnin reveals the true story of the great Hughes heist—and of the real Howard Hughes. Based on nearly ten thousand never-before-published documents, more than three thousand in Hughes’s own handwriting, Citizen Hughes is far more than a biography, or even an unwilling autobiography. It is a startling record of the secret history of our times.
Author: Annie Lowrey Publisher: Crown ISBN: 1524758787 Category : Political Science Languages : en Pages : 274
Book Description
A New York Times Book Review Editors' Choice Shortlisted for the 2018 FT & McKinsey Business Book of the Year Award A brilliantly reported, global look at universal basic income—a stipend given to every citizen—and why it might be necessary in an age of rising inequality, persistent poverty, and dazzling technology. Imagine if every month the government deposited $1,000 into your bank account, with nothing expected in return. It sounds crazy. But it has become one of the most influential and hotly debated policy ideas of our time. Futurists, radicals, libertarians, socialists, union representatives, feminists, conservatives, Bernie supporters, development economists, child-care workers, welfare recipients, and politicians from India to Finland to Canada to Mexico—all are talking about UBI. In this sparkling and provocative book, economics writer Annie Lowrey examines the UBI movement from many angles. She travels to Kenya to see how a UBI is lifting the poorest people on earth out of destitution, India to see how inefficient government programs are failing the poor, South Korea to interrogate UBI’s intellectual pedigree, and Silicon Valley to meet the tech titans financing UBI pilots in expectation of a world with advanced artificial intelligence and little need for human labor. Lowrey explores the potential of such a sweeping policy and the challenges the movement faces, among them contradictory aims, uncomfortable costs, and, most powerfully, the entrenched belief that no one should get something for nothing. In the end, she shows how this arcane policy has the potential to solve some of our most intractable economic problems, while offering a new vision of citizenship and a firmer foundation for our society in this age of turbulence and marvels.
Author: Jl Collins Publisher: Jl Collins LLC ISBN: 9781737724100 Category : Languages : en Pages : 286
Book Description
"In the dark, bewildering, trap-infested jungle of misinformation and opaque riddles that is the world of investment, JL Collins is the fatherly wizard on the side of the path, offering a simple map, warm words of encouragement and the tools to forge your way through with confidence. You'll never find a wiser advisor with a bigger heart." -- Malachi Rempen: Filmmaker, cartoonist, author and self-described ruffian This book grew out of a series of letters to my daughter concerning various things-mostly about money and investing-she was not yet quite ready to hear. Since money is the single most powerful tool we have for navigating this complex world we've created, understanding it is critical. "But Dad," she once said, "I know money is important. I just don't want to spend my life thinking about it." This was eye-opening. I love this stuff. But most people have better things to do with their precious time. Bridges to build, diseases to cure, treaties to negotiate, mountains to climb, technologies to create, children to teach, businesses to run. Unfortunately, benign neglect of things financial leaves you open to the charlatans of the financial world. The people who make investing endlessly complex, because if it can be made complex it becomes more profitable for them, more expensive for us, and we are forced into their waiting arms. Here's an important truth: Complex investments exist only to profit those who create and sell them. Not only are they more costly to the investor, they are less effective. The simple approach I created for her and present now to you, is not only easy to understand and implement, it is more powerful than any other. Together we'll explore: Debt: Why you must avoid it and what to do if you have it. The importance of having F-you Money. How to think about money, and the unique way understanding this is key to building your wealth. Where traditional investing advice goes wrong and what actually works. What the stock market really is and how it really works. Why the stock market always goes up and why most people still lose money investing in it. How to invest in a raging bull, or bear, market. Specific investments to implement these strategies. The Wealth Building and Wealth Preservation phases of your investing life and why they are not always tied to your age. How your asset allocation is tied to those phases and how to choose it. How to simplify the sometimes confusing world of 401(k), 403(b), TSP, IRA and Roth accounts. TRFs (Target Retirement Funds), HSAs (Health Savings Accounts) and RMDs (Required Minimum Distributions). What investment firm to use and why the one I recommend is so far superior to the competition. Why you should be very cautious when engaging an investment advisor and whether you need to at all. Why and how you can be conned, and how to avoid becoming prey. Why I don't recommend dollar cost averaging. What financial independence looks like and how to have your money support you. What the 4% rule is and how to use it to safely spend your wealth. The truth behind Social Security. A Case Study on how this all can be implemented in real life. Enjoy the read, and the journey!
Author: Torry, Malcolm Publisher: Policy Press ISBN: 1447311264 Category : Social Science Languages : en Pages : 326
Book Description
Due to government cuts, the benefits system is currently a hot topic. In this timely book, a Citizen’s Income (sometimes called a Basic Income) is defined as an unconditional, non-withdrawable income for every individual as a right of citizenship. This much-needed book, written by an experienced researcher and author, is the first for over a decade to analyse the social, economic and labour market advantages of a Citizen's Income in the UK. It demonstrates that it would be simple and cheap to administer, would reduce inequality, enhance individual freedom and would be good for the economy, social cohesion, families, and the employment market. It also contains international comparisons and links with broader issues around the meaning of poverty and inequality, making a valuable contribution to the debate around benefits. Accessibly written, this is essential reading for policy-makers, researchers, teachers, students, and anyone interested in the future of our society and our economy
Author: William H. Gates Publisher: Beacon Press ISBN: 0807095885 Category : Political Science Languages : en Pages : 184
Book Description
The ‘Man Bites Dog’ story of over 1,000 high net-worth individuals who rose up to protest the repeal of the estate tax made headlines everywhere last year. Central to the organization of what Newsweek tagged the ‘billionaire backlash’ were two visionaries: Bill Gates, Sr., cochair of the Bill and Melinda Gates Foundation, the largest foundation on earth, and Chuck Collins, cofounder of United for a Fair Economy and Responsible Wealth, and the great-grandson of meat packer Oscar Mayer who gave away his substantial inheritance at the age of twenty-six. Gates and Collins argue that individual wealth is a product not only of hard work and smart choices but of the society that provides the fertile soil for success. They don‘t subscribe to the ‘Great Man’ theory of wealth creation but contend that society‘s investments, such as economic development, education, health care, and property rights protection, all contribute to any individual‘s good fortune. With the repeal proposed by the Bush administration, we might be facing the future that Teddy Roosevelt feared—where huge fortunes amassed and untaxed would evolve into a dangerous and permanent aristocracy. Repeal would drop federal revenues $294 billion in the first 10 years; 27 some $750 billion would be lost in the second decade, not to mention that the U.S. Treasury estimates that charitable contributions would drop by $6 billion a year. But what about all those modest families that would lose the farm? Gates and Collins expose the fallacy of this argument, pointing out that this is largely a myth and that the very same lobbies and politicians who are crying ‘cows’ have opposed other legislation that would actually have helped small farmers. Weaving in personal narratives, history, and plenty of solid economic sense, Gates and Collins make a sound and compelling case for tax reform, not repeal.
Author: Angela Cummine
Author: Angela Cummine
Author: Wade Rathke
Author: Andrew Carnegie
Author: Michael Drosnin
Author: Annie Lowrey
Author: Jl Collins
Author: Torry, Malcolm
Author: Charles Fletcher Dole
Author: Charles Fletcher Dole
Author: William H. Gates