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Makers and Takers
- The Rise of Finance and the Fall of American Business
- Narrated by: Rachel Fulginiti
- Length: 13 hrs and 25 mins
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Publisher's Summary
Is Wall Street bad for Main Street America?
"A well-told exploration of why our current economy is leaving too many behind." (The New York Times)
In looking at the forces that shaped the 2016 presidential election, one thing is clear: Much of the population believes that our economic system is rigged to enrich the privileged elites at the expense of hard-working Americans.
This is a belief held equally on both sides of political spectrum, and it seems only to be gaining momentum. A key reason, says Financial Times columnist Rana Foroohar, is the fact that Wall Street is no longer supporting Main Street businesses that create the jobs for the middle and working class. She draws on in-depth reporting and interviews at the highest rungs of business and government to show how the “financialization of America” - the phenomenon by which finance and its way of thinking have come to dominate every corner of business - is threatening the American Dream.
Now updated with new material explaining how our corrupted financial system propelled Donald Trump to power, Makers and Takers explores the confluence of forces that has led American businesses to favor balance-sheet engineering over the actual kind, greed over growth, and short-term profits over putting people to work. From the cozy relationship between Wall Street and Washington, to a tax code designed to benefit wealthy individuals and corporations, to 40 years of bad policy decisions, she shows why so many Americans have lost trust in the system, and why it matters urgently to us all.
Through colorful stories of both “Takers”, those stifling job creation while lining their own pockets, and “Makers”, businesses serving the real economy, Foroohar shows how we can reverse these trends for a better path forward.
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What listeners say about Makers and Takers
Average Customer RatingsReviews - Please select the tabs below to change the source of reviews.
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Overall
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Performance
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Story
- Jared
- 06-14-16
Amazing
I've read and listened to a number of books on financial markets and the economy. I have never read or listened to a book that so astutely goes over all of the major important points on how our economy has become as rigged as it is.
7 people found this helpful
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Performance
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Story
- Joseph Wadlinger
- 06-23-16
Excellent, well researched and well presented
This is an excellent book. It takes an incredibly complex storyline and simplifies it so we can understand The myriad contributors to our financial and societal challenges.
I found myself looking forward to a summary of what could be done to solve these issues: summary that was provided in the last chapter. I wish the author had presented her recommendations in A more concise and concrete summary. Because we need concise and understandable solutions if we are going to have a chance of seeing them executed.
Overall a great book
4 people found this helpful
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- David Cohn
- 07-05-16
A MUST READ!
This was a very easy to understand synopsis of our current financial situation as well as weaving research and history into the narrative of how our system became what it is today. If we are to survive as a democracy, we ALL need to understand what is happening with our economy and elect people who share that understanding so we can fix it for this and future generations. Should be required reading for all high schools so they can grasp the ideas of how an economy should work that is by, of, and for the people.
2 people found this helpful
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- Drew
- 06-17-16
Financialization is the new F word
If you can handle the truth, sit down, strap in and hold on. Rana's research is superseded only by the logical presentation of the facts -- truths that political spin doctors and private moneyed interests may take issue with -- that include clear cause/effect examples which contribute to the economic situation we face today.
2 people found this helpful
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- Jonathan
- 06-15-16
Information and theme way too repetitive
I got the message but felt that the same lines and themes were repeated throughout the book. There was very little detailed evidence. The author made an assertion provided a thumbnail in terms of evidence and consequently undermined her hypothesis. Too bad because I agree with her contention. We have to get back to channeling the American spirit and making things. We also have to get rid of a tendency to focus on the short term. No where is this more evident in the unceasing cuts to education. If we want the US to maintain a dominant position in the world we need an educated work force that is literate, has an understanding of the world and is politically astute.
5 people found this helpful
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- Henry Velez
- 02-05-20
Would not recommend
Searched for a book on economics. Karl Marx was referenced right at the beginning (and not in a bad way). Too much to list. Would not recommend unless you want a book on liberal “economics”
1 person found this helpful
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- Paxan
- 04-05-19
Not completely factual
for some reason this author is attributing the 2007 crisis to how the Obama admin handled the situation. I am not sure why everyone is forgetting it actually occurred under the Bush administration. if you would like to read a great book about how this happened read To Big To Fail.
1 person found this helpful
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- Bryan
- 02-17-17
I Can't Sing Enough Praises About It
Rana Foroohar, who is an assistant managing editor at TIME and the magazine’s economics columnist, makes a compelling argument that Finance and NOT just poor economic theory is mostly to blame for our current economic problems. She makes the point that most economist (who were asleep at the switch during the 2008 financial meltdown) have very little academic training in finance, and haven't spent much time researching the economic impact the finance sector has on our economy. Starting with Presidents Carter through Obama, most Presidents have slowly deregulated the finance sector of our economy. She also argues that the Dodd-Frank law enacted after the 2008 financial meltdown made everyone feel a bit better, but didn't really change the way Wall Street or the Big Banks operate due to so many loop-holes written into the law (mostly by Wall Street lobbyist). This is a prime example of crony capitalism at work! Only by enacting new, stricter laws and regulations can America break the stranglehold Wall Street and the Big Banks have over our economy. Ms. Foroohar in the final chapter of her book gives a laundry list of suggestions to change things for the better. A similar argument was made during the Democratic primaries by Senator Bernie Sanders, and during the recent convention managed to get many of his ideas put into the Democratic platform, namely Wall Street reform.
1 person found this helpful
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- Joe
- 07-14-16
Incredibly Insightful!
Would you listen to Makers and Takers again? Why?
Yes, The narration was excellent and the story is insightful. Getting the inside scoop on these companies and banks is important because we never hear the truth. Its great to make lots of money but we can now see over the years which companies put the shareholders happiness over there customers, and how that has ultimately lead to there demise or just a crappy company that never grows or improves its products.
Did you have an extreme reaction to this book? Did it make you laugh or cry?
It made me upset that MOST of American business is more about pleasing shareholders rather than Innovation. When she starts off with the Tim Cook vs. Steve Jobs way of running a company I was hooked. I'm all for making profits and staying lean but not at the cost of Innovation, even in banking.
1 person found this helpful
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- Fernando
- 07-04-16
Fantastic
Essential in my opinion to be a well-informed American. The book is never dull and its scope is very wide.
1 person found this helpful
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Story
Even after the ruinous financial crisis of 2008, America is still beset by the depredations of an oligarchy that is now bigger, more profitable, and more resistant to regulation than ever. Anchored by six megabanks, which together control assets amounting to more than 60 percent of the country's gross domestic product, these financial institutions (now more emphatically "too big to fail") continue to hold the global economy hostage.
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Easy to Understand and Comprehend
- By Kyle on 04-11-10
By: Simon Johnson, and others
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Predator Nation
- Corporate Criminals, Political Corruption, and the Hijacking of America
- By: Charles H. Ferguson
- Narrated by: Rob Shapiro
- Length: 13 hrs and 30 mins
- Unabridged
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Overall
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Performance
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Story
Charles H. Ferguson, who electrified the world with his Oscar-winning documentary Inside Job, now explains how a predator elite took over the country, step by step, and he exposes the networks of academic, financial, and political influence, in all recent administrations, that prepared the predators' path to conquest. Over the last several decades, the United States has undergone one of the most radical social and economic transformations in its history.
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The Best Book on the Financial Collapse
- By Jeremy on 05-27-12
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The Little Book of Bull Moves (Updated and Expanded)
- By: Peter D. Schiff
- Narrated by: Sean Pratt
- Length: 7 hrs and 21 mins
- Unabridged
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Overall
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Performance
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Story
Now updated for 2010, in The Little Book of Bull Moves, the CNBC-dubbed “Doctor Doom” explains in the same straightforward and accessible style that was the signature of his first book. He offers timely insights into using a conservative, nontraditional investment strategy to protect your portfolio and even profit during these uncertain economic times and those to come.
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Excellent Book, Excellent Narrator
- By James on 03-23-11
By: Peter D. Schiff
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The Age of Oversupply
- Overcoming the Greatest Challenge to the Global Economy
- By: Daniel Alpert
- Narrated by: Don Hagen
- Length: 10 hrs and 34 mins
- Unabridged
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Overall
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Performance
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Story
The governments and central banks of the developed world have tried every policy tool imaginable, yet our economies remain sluggish, or worse. How did we get here, and how can we emerge from the longest downturn in recent memory? Daniel Alpert, a progressive Wall Street banker and economist, argues that we are living in the age of oversupply.
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Great book but now out of date
- By emory morsberger on 11-30-17
By: Daniel Alpert
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Freefall
- America, Free Markets, and the Sinking of the World Economy
- By: Joseph E. Stiglitz
- Narrated by: Dick Hill
- Length: 13 hrs and 22 mins
- Unabridged
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Overall
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Performance
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Story
The current global financial crisis carries a "made in America" label. In this forthright and incisive book, Nobel Laureate Joseph E. Stiglitz explains how America exported bad economics, bad policies, and bad behavior to the rest of the world, only to cobble together a haphazard and ineffective response when the markets finally seized up.
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Required Economic Reading
- By Bry on 02-16-10
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How Markets Fail
- The Logic of Economic Calamities
- By: John Cassidy
- Narrated by: Ralph Cosham
- Length: 13 hrs and 15 mins
- Unabridged
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Overall
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Performance
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Story
Behind the alarming headlines about job losses, bank bailouts, and corporate greed, there is a little-known story of bad ideas. For 50 years or more, economists have been busy developing elegant theories of how markets work - how they facilitate innovation, wealth creation, and an efficient allocation of society's resources. But what about when markets don't work?
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Way more than I expected
- By Ben on 03-18-10
By: John Cassidy
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The Trillion Dollar Meltdown
- Easy Money, High Rollers, and the Great Credit Crash
- By: Charles R. Morris
- Narrated by: Nick Summers
- Length: 5 hrs
- Unabridged
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Overall
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Performance
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Story
The sub-prime mortgage crisis is only the beginning; a more profound economic and political restructuring is on its way. According to Charles R. Morris, the astronomical leverage at investment banks, with their hedge-fund and private-equity clients, virtually guarantees massive disruption in global markets.
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Very Illuminating
- By Nelson Alexander on 06-20-08
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Fault Lines
- How Hidden Fractures Still Threaten the World's Economy
- By: Raghuram Rajan
- Narrated by: Richard Davidson
- Length: 12 hrs and 58 mins
- Unabridged
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Overall
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Performance
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Story
Raghuram Rajan was one of the few economists who warned of the global financial crisis before it hit. Now, as the world struggles to recover, it's tempting to blame what happened on just a few greedy bankers who took irrational risks and left the rest of us to foot the bill. In Fault Lines, Rajan argues that serious flaws in the economy are also to blame, and warns that a potentially more devastating crisis awaits us if they aren't fixed.
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Great Review of the Worlds Economic Concerns
- By Denny on 08-25-19
By: Raghuram Rajan
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The Little Book of Economics
- By: Greg Ip
- Narrated by: Sean Pratt
- Length: 5 hrs and 45 mins
- Unabridged
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Overall
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Performance
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Story
After the global financial panic and recession of 2007–2009, you don’t have to be president or a hedge fund manager to know that “It’s the economy, stupid.” Yet while the economy dominates the headlines, how it works and who influences it remain a mystery to most people. In The Little Book of Economics, Greg Ip, an award-winning journalist renowned for making complex economics easy to understand, walks you through how the economy really works.
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Great as an audiobook!
- By Cori on 04-15-12
By: Greg Ip
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The Age of Turbulence
- Adventures in a New World
- By: Alan Greenspan
- Narrated by: Robertson Dean
- Length: 20 hrs
- Unabridged
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Overall
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Performance
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Story
"This book is in part a detective story. After 9/11 I knew, if I needed further reinforcement, that we are living in a new world - the world of a global capitalist economy that is vastly more flexible, resilient, open, self-correcting, and fast-changing than it was even a quarter century earlier. It's a world that presents us with enormous new possibilities but also enormous new challenges. The Age of Turbulence is my attempt to understand the nature of this new world." (Alan Greenspan)
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Basics for wide audience
- By Dmitriy on 10-12-07
By: Alan Greenspan
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Economism
- Bad Economics and the Rise of Inequality
- By: James Kwak, Simon Johnson - foreword
- Narrated by: Mark Bramhall
- Length: 7 hrs and 14 mins
- Unabridged
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Overall
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Performance
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Story
In order to illuminate the fallacies of economism, James Kwak first offers a primer on supply and demand, market equilibrium, and social welfare: the underpinnings of most popular economic arguments. Then he provides a historical account of how economism became a prevalent mode of thought in the United States - focusing on the people who packaged Econ 101 into sound bites that were then repeated until they