From “a first-rate writer in the fascinating tradition of Junger and Krakauer” (Jim Harrison, author of Legends of the Fall), a sweeping account of civilization’s complete dependence on copper and what it all means for people, nature, and the global economy. A SWEEPING ACCOUNT OF CIVILIZATION’S COMPLETE DEPENDENCE ON COPPER AND WHAT IT MEANS FOR PEOPLE, NATURE, AND OUR GLOBAL ECONOMY COPPER is a miraculous and contradictory metal, essential to nearly every human enterprise. For most of recorded history, this remarkably pliable and sturdy substance has proven invaluable: not only did the ancient Romans build their empire on mining copper but Christopher Columbus protected his ships from rot by lining their hulls with it. Today, the metal can be found in every house, car, airplane, cell phone, computer, and home appliance the world over, including in all the new, so-called green technologies. Yet the history of copper extraction and our present relationship with the metal are fraught with profound difficulties. Copper mining causes irrevocable damage to the Earth, releasing arsenic, cyanide, sulfuric acid, and other deadly pollutants into the air and water. And the mines themselves have significant effects on the economies and wellbeing of the communities where they are located. With Red Summer and Fools Rush In, Bill Carter has earned a reputation as an on-the-ground journalist adept at connecting the local elements of a story to its largest consequences. Carter does this again—and brilliantly—in Boom, Bust, Boom, exploring in an entertaining and fact-rich narrative the very human dimension of copper extraction and the colossal implications the industry has for every one of us. Starting in his own backyard in the old mining town of Bisbee, Arizona—where he discovers that the dirt in his garden contains double the acceptable level of arsenic—Bill Carter follows the story of copper to the controversial Grasberg copper mine in Indonesia; to the “ring” at the London Metal Exchange, where a select group of traders buy and sell enormous amounts of the metal; and to an Alaskan salmon run threatened by mining. Boom, Bust, Boom is a highly readable account—part social history, part mining-town exploration, and part environmental investigation. Page by page, Carter blends the personal and the international in a narrative that helps us understand the paradoxical relationship we have with a substance whose necessity to civilization costs the environment and the people who mine it dearly. The result is a work of first-rate journalism that fascinates on every level.

One of the most pressing concerns of environmentalists and policy makers is the overexploitation of natural resources. Efforts to regulate such resources are too often undermined by the people whose livelihoods depend on their use. One of the great challenges for wildlife managers in the twenty-first century is learning to create the conditions under which people will erect effective and workable rules to conserve those resources. James M. Acheson, author of the best-selling Lobster Gangs of Maine (the seminal work on the culture and economics of lobster fishing), here turns his attention to the management of the lobster industry. In this illuminating new book, he shows that resource degradation is not inevitable. Indeed, the Maine lobster fishery is one of the most successful fisheries in the world. Catches have been stable since World War II, and record highs have been achieved since the late 1980s. According to Acheson, these high catches are due, in part, to the institutions generated by the lobster-fishing industry to control fishing practices. These rules are effective. Rational choice theory frames Acheson's down-to-earth study. Rational choice theorists believe that the overexploitation of marine resources stems from their common-pool nature, which results in collective action problems. In fisheries, what is rational for the individual fishermen can lead to disaster for the society. The progressive Maine lobster industry, lobster fishermen, and local groups have solved a series of such problems by creating three different sets of regulations: informal territorial rules; rules to control the number of traps; and formal conservation legislation. In recent years, the industry has successfully influenced new regulations at the federal level and has developed a strong co-management system with the Maine government. The process of developing these rules has been quite acrimonious; factions of fishermen have disagreed over lobster rules designed to give commercial advantage to one group or another. Although fishermen and scientists have come to share a conservation ethic, they often disagree over how to best conserve the lobster and even the quality of science. The importance of Capturing the Commons is twofold: it provides a case study of the management of one highly successful fishery, which can serve as a management model for policy makers, politicians, and local communities; and it adds to the body of theory concerning the conditions under which people will and will not devise institutions to manage natural resources.

Credit booms are a focal point for policymakers and scholars of financial crises. Yet our understanding of how the real sector behaves during booms, and why some booms may go bad, is limited. Despite a large and growing body of literature, most of the work has focused on aggregate economic activity, and relatively little is known about which industries benefit and which suffer during these episodes. This note aims to fill this gap by analyzing disaggregated output and employment data in a large sample of advanced and emerging market economies between 1970 and 2014.

Time and Money argues persuasively that the troubles which characterise modern capital-intensive economies, particularly the episodes of boom and bust, may best be analysed with the aid of a capital-based macroeconomics. The primary focus of this text is the intertemporal structure of capital, an area that until now has been neglected in favour of labour and money-based macroeconomics.

The new, fully-updated edition of the respected guide to understanding financial extremes, evaluating investment opportunities, and identifying future bubbles Now in its second edition, Boombustology is an authoritative, up-to-date guide on the history of booms, busts, and financial cycles. Engaging and accessible, this popular book helps investors, policymakers, and analysts navigate the radical uncertainty that plagues today’s uncertain investing and economic environment. Author Vikram Mansharamani, an experienced global equity investor and prominent Harvard University lecturer, presents his multi-disciplinary framework for identifying financial bubbles before they burst. Moving beyond the typical view of booms and busts as primarily economic occurrences, this innovative book offers a multidisciplinary approach that utilizes microeconomic, macroeconomic, psychological, political, and biological lenses to spot unsustainable dynamics. It gives the reader insights into the dynamics that cause soaring financial markets to crash. Cases studies range from the 17th Century Dutch tulip mania to the more recent US housing collapse. The numerous cross-currents driving today’s markets—trade wars, inverted yield curves, currency wars, economic slowdowns, dangerous debt dynamics, populism, nationalism, as well as the general uncertainties in the global economy—demand that investors, policymakers, and analysts be on the lookout for a forthcoming recession, market correction, or worse. An essential resource for anyone interested in financial markets, the second edition of Boombustology: Adopts multiple lenses to understand the dynamics of booms, busts, bubbles, manias, crashes Utilizes the common characteristics of past bubbles to assist in identifying future financial extremes Presents a set of practical indicators that point to a financial bubble, enabling readers to gauge the likelihood of an unsustainable boom Offers two new chapters that analyze the long-term prospects for Indian markets and the distortions being caused by the passive investing boom Includes a new foreword by James Grant, legendary editor of Grant's Interest Rate Observer A comprehensive exploration of how bubbles form and why they burst, Boombustology, 2nd Edition is packed with a wealth of new and updated information for individual and institutional investors, academics, students, policymakers, risk-managers, and corporate managers alike.

Sir John Templeton, legendary investor, was famous for saying, "The four most dangerous words in investing are, 'This time it's different.'" He knew that though history doesn't repeat, not exactly, history is an excellent guide for investors. In Markets Never Forget But People Do: How Your Memory Is Costing You Money and Why This Time Isn't Different, long-time Forbes columnist, CEO of Fisher Investments, and 4-time New York Times bestselling author Ken Fisher shows how and why investors' memories fail them—and how costly that can be. More important, he shows steps investors can take to begin reducing errors they repeatedly make. The past is never indicative of the future, but history can be one powerful guide in shaping forward looking expectations. Readers can learn how to see the world more clearly—and learn to make fewer errors—by understanding just a bit of investing past.

This introductory text is about economic geography and globalization in all their different stripes and colours. It introduces clearly the subject matters in economic geography through a wide range of important conceptual lenses and theoretical perspectives. It does so without a facts-based rendition of what globalization actually is. Instead, Sokol offers a refreshingly light touch on the various approaches in understanding contemporary economic geographies and applies these conceptual insights, in a helpful and straightforward manner, to our appreciation of such key challenges of globalization as inequality, instability, and uneven development. It is both wide in coverage and contemporary in relevance. The text will be well adopted in courses on economic geography, global studies, development studies, and international political economy. Henry Yeung, National University of Singapore Telling it like it is in a direct and engaging style, this is a book without preconceptions. It is a vital intervention that makes sense of the sorry state of the contemporary global economy and its formative geographies and shows what is involved in constructing an alternative. Roger Lee, Queen Mary University of London, UK This well-researched book provides a concise contribution to a large-scale debate on economic globalisation. Martin Sokol introduces key theoretical approaches that help us to understand how economies work, why they suffer recessions and crises, and why economic inequalities at various levels are growing in the context of globalisation. He introduces key economic geography concepts and theories, demonstrating their application to our contemporary globalising world. The role that economic geography may play in informing policymaking is highlighted, and debates surrounding the recent global financial and economic crisis are expounded. This highly accessible book will prove an essential reference tool for academics, students and researchers focusing on geography, economics, planning and regional development, development studies, international politics and international business. Policymakers and practitioners in local, regional and national authorities, international bodies and non-governmental organisations will also find this book to be an invaluable resource.