Davos Man

A San Francisco Chronicle Bestseller The New York Times’s Global Economics Correspondent masterfully reveals how billionaires’ systematic plunder of the world—brazenly accelerated during the pandemic—has transformed 21st-century life and dangerously destabilized democracy. “Davos Man will be read a hundred years from now as a warning.” —Evan Osnos “Excellent. A powerful, fiery book, and it could well be an essential one.” —NPR.org The history of the last half century in America, Europe, and other major economies is in large part the story of wealth flowing upward. The most affluent people emerged from capitalism’s triumph in the Cold War to loot the peace, depriving governments of the resources needed to serve their people, and leaving them tragically unprepared for the worst pandemic in a century. Drawing on decades of experience covering the global economy, award-winning journalist Peter S. Goodman profiles five representative “Davos Men”—members of the billionaire class—chronicling how their shocking exploitation of the global pandemic has hastened a fifty-year trend of wealth centralization. Alongside this reporting, Goodman delivers textured portraits of those caught in Davos Man’s wake, including a former steelworker in the American Midwest, a Bangladeshi migrant in Qatar, a Seattle doctor on the front lines of the fight against COVID, blue-collar workers in the tenements of Buenos Aires, an African immigrant in Sweden, a textile manufacturer in Italy, an Amazon warehouse employee in New York City, and more. Goodman’s revelatory exposé of the global billionaire class reveals their hidden impact on nearly every aspect of modern society: widening wealth inequality, the rise of anti-democratic nationalism, the shrinking opportunity to earn a livable wage, the vulnerabilities of our health-care systems, access to affordable housing, unequal taxation, and even the quality of the shirt on your back. Meticulously reported yet compulsively readable, Davos Man is an essential read for anyone concerned about economic justice, the capacity of societies to grapple with their greatest challenges, and the sanctity of representative government.

How Main Street was hit by—and might recover from—the financial crisis, by The New York Times's national economics correspondent When the financial crisis struck in 2008, Main Street felt the blow just as hard as Wall Street. The New York Times national economics correspondent Peter S. Goodman takes us behind the headlines and exposes how the flow of capital from Asia and Silicon Valley to the suburbs of the housing bubble perverted America's economy. He follows a real estate entrepreneur who sees endless opportunity in the underdeveloped lots of Florida—until the mortgages for them collapse. And he watches as an Oakland, California-based deliveryman, unable to land a job in the biotech industry, slides into unemployment and a homeless shelter. As Goodman shows, for two decades Americans binged on imports and easy credit, a spending spree abetted by ever-increasing home values—and then the bill came due. Yet even in a new environment of thrift and pullback, Goodman argues that economic adaptation is possible, through new industries and new safety nets. His tour of new businesses in Michigan, Iowa, South Carolina, and elsewhere and his clear-eyed analysis point the way to the economic promises and risks America now faces.

In the spring of 1929, Martin Heidegger and Ernst Cassirer met for a public conversation in Davos, Switzerland. They were arguably the most important thinkers in Europe, and their exchange touched upon the most urgent questions in the history of philosophy: What is human finitude? What is objectivity? What is culture? What is truth? Over the last eighty years the Davos encounter has acquired an allegorical significance, as if it marked an ultimate and irreparable rupture in twentieth-century Continental thought. Here, in a reconstruction at once historical and philosophical, Peter Gordon reexamines the conversation, its origins and its aftermath, resuscitating an event that has become entombed in its own mythology. Through a close and painstaking analysis, Gordon dissects the exchange itself to reveal that it was at core a philosophical disagreement over what it means to be human. But Gordon also shows how the life and work of these two philosophers remained closely intertwined. Their disagreement can be understood only if we appreciate their common point of departure as thinkers of the German interwar crisis, an era of rebellion that touched all of the major philosophical movements of the dayÑlife-philosophy, philosophical anthropology, neo-Kantianism, phenomenology, and existentialism. As Gordon explains, the Davos debate would continue to both inspire and provoke well after the two men had gone their separate ways. It remains, even today, a touchstone of philosophical memory. This clear, riveting book will be of great interest not only to philosophers and to historians of philosophy but also to anyone interested in the great intellectual ferment of Europe's interwar years.

A gripping portrait of modern Tibet told through the lives of its people, from the bestselling author of Nothing to Envy “A brilliantly reported and eye-opening work of narrative nonfiction.”—The New York Times Book Review NAMED ONE OF THE BEST BOOKS OF THE YEAR BY Parul Sehgal, The New York Times • The New York Times Book Review • The Washington Post • NPR • The Economist • Outside • Foreign Affairs Just as she did with North Korea, award-winning journalist Barbara Demick explores one of the most hidden corners of the world. She tells the story of a Tibetan town perched eleven thousand feet above sea level that is one of the most difficult places in all of China for foreigners to visit. Ngaba was one of the first places where the Tibetans and the Chinese Communists encountered one another. In the 1930s, Mao Zedong’s Red Army fled into the Tibetan plateau to escape their adversaries in the Chinese Civil War. By the time the soldiers reached Ngaba, they were so hungry that they looted monasteries and ate religious statues made of flour and butter—to Tibetans, it was as if they were eating the Buddha. Their experiences would make Ngaba one of the engines of Tibetan resistance for decades to come, culminating in shocking acts of self-immolation. Eat the Buddha spans decades of modern Tibetan and Chinese history, as told through the private lives of Demick’s subjects, among them a princess whose family is wiped out during the Cultural Revolution, a young Tibetan nomad who becomes radicalized in the storied monastery of Kirti, an upwardly mobile entrepreneur who falls in love with a Chinese woman, a poet and intellectual who risks everything to voice his resistance, and a Tibetan schoolgirl forced to choose at an early age between her family and the elusive lure of Chinese money. All of them face the same dilemma: Do they resist the Chinese, or do they join them? Do they adhere to Buddhist teachings of compassion and nonviolence, or do they fight? Illuminating a culture that has long been romanticized by Westerners as deeply spiritual and peaceful, Demick reveals what it is really like to be a Tibetan in the twenty-first century, trying to preserve one’s culture, faith, and language against the depredations of a seemingly unstoppable, technologically all-seeing superpower. Her depiction is nuanced, unvarnished, and at times shocking.

Reimagining our global economy so it becomes more sustainable and prosperous for all Our global economic system is broken. But we can replace the current picture of global upheaval, unsustainability, and uncertainty with one of an economy that works for all people, and the planet. First, we must eliminate rising income inequality within societies where productivity and wage growth has slowed. Second, we must reduce the dampening effect of monopoly market power wielded by large corporations on innovation and productivity gains. And finally, the short-sighted exploitation of natural resources that is corroding the environment and affecting the lives of many for the worse must end. The debate over the causes of the broken economy—laissez-faire government, poorly managed globalization, the rise of technology in favor of the few, or yet another reason—is wide open. Stakeholder Capitalism: A Global Economy that Works for Progress, People and Planet argues convincingly that if we don't start with recognizing the true shape of our problems, our current system will continue to fail us. To help us see our challenges more clearly, Schwab—the Founder and Executive Chairman of the World Economic Forum—looks for the real causes of our system's shortcomings, and for solutions in best practices from around the world in places as diverse as China, Denmark, Ethiopia, Germany, Indonesia, New Zealand, and Singapore. And in doing so, Schwab finds emerging examples of new ways of doing things that provide grounds for hope, including: Individual agency: how countries and policies can make a difference against large external forces A clearly defined social contract: agreement on shared values and goals allows government, business, and individuals to produce the most optimal outcomes Planning for future generations: short-sighted presentism harms our shared future, and that of those yet to be born Better measures of economic success: move beyond a myopic focus on GDP to more complete, human-scaled measures of societal flourishing By accurately describing our real situation, Stakeholder Capitalism is able to pinpoint achievable ways to deal with our problems. Chapter by chapter, Professor Schwab shows us that there are ways for everyone at all levels of society to reshape the broken pieces of the global economy and—country by country, company by company, and citizen by citizen—glue them back together in a way that benefits us all.

World-renowned economist Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, explains that we have an opportunity to shape the fourth industrial revolu­tion, which will fundamentally alter how we live and work. Schwab argues that this revolution is different in scale, scope and complexity from any that have come before. Characterized by a range of new technologies that are fusing the physical, digital and biological worlds, the developments are affecting all disciplines, economies, industries and governments, and even challenging ideas about what it means to be human. Artificial intelligence is already all around us, from supercomputers, drones and virtual assistants to 3D printing, DNA sequencing, smart thermostats, wear­able sensors and microchips smaller than a grain of sand. But this is just the beginning: nanomaterials 200 times stronger than steel and a million times thinner than a strand of hair and the first transplant of a 3D printed liver are already in development. Imagine “smart factories” in which global systems of manu­facturing are coordinated virtually, or implantable mobile phones made of biosynthetic materials. The fourth industrial revolution, says Schwab, is more significant, and its ramifications more profound, than in any prior period of human history. He outlines the key technologies driving this revolution and discusses the major impacts expected on government, business, civil society and individu­als. Schwab also offers bold ideas on how to harness these changes and shape a better future—one in which technology empowers people rather than replaces them; progress serves society rather than disrupts it; and in which innovators respect moral and ethical boundaries rather than cross them. We all have the opportunity to contribute to developing new frame­works that advance progress.

The first comprehensive philosophical analysis of the 'Davos debate' between Ernst Cassirer and Martin Heidegger.

LONGLISTED FOR THE FINANCIAL TIMES & MCKINSEY BUSINESS BOOK OF THE YEAR ONE OF THE ECONOMIST'S BEST BOOKS OF 2021 In this compelling story of lies, greed and tarnished idealism, two Wall Street Journal reporters investigate a man who Bill Gates, Western governments, and other investors entrusted with billions of dollars to make profits and end poverty, but who now stands accused of masterminding one of the biggest, most brazen financial frauds ever. Arif Naqvi was charismatic, inspiring, and self-made—all the qualities of a successful business leader. The founder of Abraaj, a Dubai-based private-equity firm, Naqvi was the Key Man to the global elite searching for impact investments to make money and do good. He persuaded politicians he could help stabilize the Middle East after 9/11 by providing jobs and guided executives to opportunities in cities they struggled to find on the map. Bill Gates helped him start a $1 billion fund to improve healthcare in poor countries and the UN and Interpol appointed him to boards. As Pope Francis blessed a move to harness capitalism for the good of the poor, Naqvi won the support of Obama’s administration and investors, who compared him to Tom Cruise in Mission: Impossible. In 2018, Simon Clark and Will Louch were contacted by an anonymous whistleblower who said Naqvi had swindled investors out of hundreds of millions of dollars and offered bribes to sustain his billionaire lifestyle. Digging into the claims, Clark and Louch uncovered hundreds of documents and exposed the wrongdoing. In April 2019—months after their exposé broke—Naqvi was arrested on charges of fraud and racketeering, and faces up to 291 years in jail. Populated by a cast of larger-than-life characters and moving across Asia, Africa, Europe and America, The Key Man is the story of how the global elite was duped by a capitalist fairytale. Clark and Louch shine a light on efforts to clean up global capital flows even as opaque private equity firms amass trillions of dollars and offshore tax havens cast a veil of secrecy which prevents regulators, investors and citizens from understanding what’s really going on in the finance industry.