The Price

A “bracing and well-argued” study of America’s college debt crisis—“necessary reading for anyone concerned about the fate of American higher education” (Kirkus). College is far too expensive for many people today, and the confusing mix of federal, state, institutional, and private financial aid leaves countless students without the resources they need to pay for it. In Paying the Price, education scholar Sara Goldrick-Rab reveals the devastating effect of these shortfalls. Goldrick-Rab examines a study of 3,000 students who used the support of federal aid and Pell Grants to enroll in public colleges and universities in Wisconsin in 2008. Half the students in the study left college without a degree, while less than 20 percent finished within five years. The cause of their problems, time and again, was lack of money. Unable to afford tuition, books, and living expenses, they worked too many hours at outside jobs, dropped classes, took time off to save money, and even went without adequate food or housing. In many heartbreaking cases, they simply left school—not with a degree, but with crippling debt. Goldrick-Rab combines that data with devastating stories of six individual students, whose struggles make clear the human and financial costs of our convoluted financial aid policies. In the final section of the book, Goldrick-Rab offers a range of possible solutions, from technical improvements to the financial aid application process, to a bold, public sector–focused “first degree free” program. "Honestly one of the most exciting books I've read, because [Goldrick-Rab has] solutions. It's a manual that I'd recommend to anyone out there, if you're a parent, if you're a teacher, if you're a student."—Trevor Noah, The Daily Show

A comprehensive and profoundly relevant history of interest from one of the world’s leading financial writers, The Price of Time explains our current global financial position and how we got here In the beginning was the loan, and the loan carried interest. For at least five millennia people have been borrowing and lending at interest. The practice wasn’t always popular—in the ancient world, usury was generally viewed as exploitative, a potential path to debt bondage and slavery. Yet as capitalism became established from the late Middle Ages onwards, denunciations of interest were tempered because interest was a necessary reward for lenders to part with their capital. And interest performs many other vital functions: it encourages people to save; enables them to place a value on precious assets, such as houses and all manner of financial securities; and allows us to price risk. All economic and financial activities take place across time. Interest is often described as the “price of money,” but it is better called the “price of time:” time is scarce, time has value, interest is the time value of money. Over the first two decades of the twenty-first century, interest rates have sunk lower than ever before. Easy money after the global financial crisis in 2007/2008 has produced several ill effects, including the appearance of multiple asset price bubbles, a reduction in productivity growth, discouraging savings and exacerbating inequality, and forcing yield starved investors to take on excessive risk. The financial world now finds itself caught between a rock and a hard place, and Edward Chancellor is here to tell us why. In this enriching volume, Chancellor explores the history of interest and its essential function in determining how capital is allocated and priced.

We live in an extraordinary time. In a world that moves faster than we can imagine, we cannot afford to stand still. In this extraordinary contrarian book Jeff Booth details the technological and economic realities shaping our present and our future, and the choices we face as we go forward-a potentially alarming, but deeply hopeful situation.

The title of this book indicates that the topic of discussion will be promiscuity and thus sin. Rather than dealing expressly with sin, its aim is to cover promiscuity from many viewpoints. It begins with the effect of promiscuity on empires and its contribution to their decline. It then compares modern Western civilization and morals of our time with those of previously collapsed civilizations. It then looks at the effect upon our individuality, especially the effect upon our body, and also demonstrates how our moral behaviour spills back into society. The book ventures into the most difficult areas of all, that is our mind and our soul. Finally, it attempts to offer practical advice on how to live a moral life.

Funerary practices have long been a classic topic of anthropological inquiry, which has tended to focus on death rituals as expressions and reinforcers of community ties and values. In this book, the author looks at funerals as an urban business, based on her fieldwork at a large Japanese funeral company. Her central theme is the progressive commercialization of what once were primarily religious rituals. The book depicts the process of contemporary Japanese funerals, the practices of those who provide commercial funeral services, and the motivations and behavior of the mourners who purchase those services. In so doing, it examines the role of funeral companies in shaping Japanese cultural practices and changing an important aspect of Japanese society. The author addresses several related questions: What cultural changes accompanied the shift from traditional community funeral rituals to commercial funeral services? How did the mass consumption of commercial funerals produce cultural homogeneity while allowing for differences in individual services? How does the marketing of professional funeral services mediate changing cultural values? How have commercial services served to objectify changing concepts of dying, death, and the deceased in contemporary Japan? The author demonstrates that the funeral industry, the purchasers of funeral services, and Japanese values surrounding death are mutually dependent and are responsible for supporting, representing, and transforming cultural practices. Throughout, the author relates vivid and often moving details and anecdotes to lend a personal element to her study of the commodification of death in Japan.