The quest for freedom from hunger and repression has triggered in recent years a dramatic, worldwide reform of political and economic systems. Never have so many people enjoyed, or at least experimented with democratic institutions. However, many strategies for economic development in Eastern Europe and Latin America have failed with the result that entire economic systems on both continents are being transformed. This major book analyzes recent transitions to democracy and market-oriented economic reforms in Eastern Europe and Latin America. Drawing in a quite distinctive way on models derived from political philosophy, economics, and game theory, Professor Przeworski also considers specific data on individual countries. Among the questions raised by the book are: What should we expect from these experiments in democracy and market economy? What new economic systems will emerge? Will these transitions result in new democracies or old dictatorships?

The current economic crisis reveals just how central finance has become to American life. Problems with obscure securities created on Wall Street radiated outward to threaten the retirement security of pensioners in Florida and Arizona, the homes and college savings of families in Detroit and Southern California, and ultimately the global economy itself. The American government took on vast new debt to bail out the financial system, while the government-owned investment funds of Kuwait, Abu Dhabi, Malaysia, and China bought up much of what was left of Wall Street. How did we get into this mess, and what does it all mean? Managed by the Markets explains how finance replaced manufacturing at the center of the American economy and how its influence has seeped into daily life. From corporations operated to create shareholder value, to banks that became portals to financial markets, to governments seeking to regulate or profit from footloose capital, to households with savings, pensions, and mortgages that rise and fall with the market, life in post-industrial America is tied to finance to an unprecedented degree. Managed by the Markets provides a guide to how we got here and unpacks the consequences of linking the well-being of society too closely to financial markets.

Winner of the 2022 New-York Historical Society Book Prize in American History A Washington Post and BookPage Best Nonfiction Book of the Year From a Pulitzer Prize–winning historian, the powerful story of a fragile nation as it expands across a contested continent. In this beautifully written history of America’s formative period, a preeminent historian upends the traditional story of a young nation confidently marching to its continent-spanning destiny. The newly constituted United States actually emerged as a fragile, internally divided union of states contending still with European empires and other independent republics on the North American continent. Native peoples sought to defend their homelands from the flood of American settlers through strategic alliances with the other continental powers. The system of American slavery grew increasingly powerful and expansive, its vigorous internal trade in Black Americans separating parents and children, husbands and wives. Bitter party divisions pitted elites favoring strong government against those, like Andrew Jackson, espousing a democratic populism for white men. Violence was both routine and organized: the United States invaded Canada, Florida, Texas, and much of Mexico, and forcibly removed most of the Native peoples living east of the Mississippi. At the end of the period the United States, its conquered territory reaching the Pacific, remained internally divided, with sectional animosities over slavery growing more intense. Taylor’s elegant history of this tumultuous period offers indelible miniatures of key characters from Frederick Douglass and Sojourner Truth to Elizabeth Cady Stanton and Margaret Fuller. It captures the high-stakes political drama as Jackson and Adams, Clay, Calhoun, and Webster contend over slavery, the economy, Indian removal, and national expansion. A ground-level account of American industrialization conveys the everyday lives of factory workers and immigrant families. And the immersive narrative puts us on the streets of Port-au-Prince, Mexico City, Quebec, and the Cherokee capital, New Echota. Absorbing and chilling, American Republics illuminates the continuities between our own social and political divisions and the events of this formative period.