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Inside the Situation Room

The Theory and Practice of Crisis Decision-Making

Why unfettered free-market capitalism endangers democracy—and what to do about it. In Private Power and Democracy’s Decline, Mordecai Kurz explores the relationship between free-market capitalism and democracy. He shows that technology has made capitalism different from what was envisioned in the Age of Enlightenment. Technology creates centers of market power and monopoly concentration that result in a society in which some people are enriched immensely while many workers’ livelihoods are often destroyed. Contrary to conventional thinking, technological competition does not remove market power, which becomes a permanent fixture of free-market capitalism. Such private power creates political inequality and generates forces that cause democracy’s decline and possible destruction. Applying these ideas to the US, Kurz shows that today’s problems begin in the 1980s with the policy of unregulated free-market capitalism. Coupled with the information technology revolution, this created a techno-winner-takes-all economy—leading to a second Gilded Age of unsustainable inequality and extreme political polarization. In the last 50 years, the economy “boomed” for some while leaving the majority of America’s workers behind. Kurz concludes that only regulated capitalism can support democracy so that the benefits of technology are more equally shared and no person’s livelihood is destroyed to enable others to be enriched. To save democracy, he proposes a “restoration-of-livelihood” policy, offering firms managerial flexibility to maintain rising productivity while ensuring that technology does not destroy the livelihood of others.

Why unfettered free-market capitalism endangers democracy—and what to do about it. In Private Power and Democracy’s Decline, Mordecai Kurz explores the relationship between free-market capitalism and democracy. He shows that technology has made capitalism different from what was envisioned in the Age of Enlightenment. Technology creates centers of market power and monopoly concentration that result in a society in which some people are enriched immensely while many workers’ livelihoods are often destroyed. Contrary to conventional thinking, technological competition does not remove market power, which becomes a permanent fixture of free-market capitalism. Such private power creates political inequality and generates forces that cause democracy’s decline and possible destruction. Applying these ideas to the US, Kurz shows that today’s problems begin in the 1980s with the policy of unregulated free-market capitalism. Coupled with the information technology revolution, this created a techno-winner-takes-all economy—leading to a second Gilded Age of unsustainable inequality and extreme political polarization. In the last 50 years, the economy “boomed” for some while leaving the majority of America’s workers behind. Kurz concludes that only regulated capitalism can support democracy so that the benefits of technology are more equally shared and no person’s livelihood is destroyed to enable others to be enriched. To save democracy, he proposes a “restoration-of-livelihood” policy, offering firms managerial flexibility to maintain rising productivity while ensuring that technology does not destroy the livelihood of others.

How to Make Capitalism Support Democracy

Private Power and Democracy's Decline

Karl Brunner Distinguished Lecture Series

Strategic lessons for monetary policy from the last two tumultuous decades based on insights from Sun Tzu, the Chinese philosopher and author of The Art of War. When central banks were forced to innovate and develop a multifaceted set of new weapons in response to the 2008 global financial crisis and 2020 COVID-19 pandemic, the result was a substantial expansion in their authority and reach. In The Art of Monetary Policy, Kristin Forbes draws lessons for monetary policy of the last two decades from the principles of Sun Tzu, the author of The Art of War, a Chinese philosopher and military strategist from the fifth century BC. Tzu proposed several key principles for success—tenets that apply to monetary policy and the battlefield today: (1) plan in advance for the next battle; (2) accept and adapt to the inevitability of powerful, external shocks outside your control; (3) establish a strong tactical position; (4) develop a variety of weapons that can be combined for different maneuvers and situations; (5) maintain flexibility so that you can quickly modify your strategy; and (6) consider the longer-term costs when evaluating the trade-offs of different approaches. These principles provide insights into what central banks did (and did not) do well over the last two decades, as well as how they should deploy interest rates, balance sheets, emergency support programs, forward guidance, and macroprudential tools in the future. While the optimal strategy in both war and monetary policy is more of an “art” than a science, adopting these principles can improve our ability to battle the next crisis and build more resilient economies during peaceful periods.

Lessons from Sun Tzu for Central Banks

The Art of Monetary Policy

Bloomsbury Studies in Digital Cultures

In 1945, W. Averell Harriman, US Ambassador to the Soviet Union, was presented with a carved wooden plaque of the Great Seal of the United States as a 'gesture of friendship' by a delegation from the Soviet's Young Pioneer Organization. Unbeknownst to him, one of the first covert listening devices, invented by Leon Theremin was hidden within it and was subsequently used to listen in on the ambassador's conversations for six years before being discovered. This book uses remarkable tales like this to tell the story of how modern audio surveillance developed and its important role in the evolution of today's artificial intelligence. Beginning with post-WW2 monitoring devices, Listening In traces an arc through the Cold War era into the present day in which state and commercial spyware can record our calls, copy messages and secretly film us. It subsequently moves into the near future where AI-assisted technologies can listen to things we have not yet said as well as digitally simulate and record our voices after we have died. Exploring how mass audio surveillance is carried out through devices such as smart phones, speakers and baby monitors and used to inform and train AI algorithms, the book provides fresh insights into how we are allowing our personal privacies to be traded for enhanced social connectivity and technological convenience. Ultimately Listening In reveals how the urge to listen and record everything that has ever been uttered is scored deeply into the technological operating systems of cultures from around the world. Listening In is also available in audiobook format from audiobook retailers.

How Audio Surveillance Became Artificial Intelligence

Listening In

A-Z Guides for Environment and Sustainability

An A–Z Guide

Essential Concepts of Environmental Peacebuilding

Routledge Focus on Economics and Finance

In an era of increasing geopolitical turmoil, this book looks at the impact of geopolitics on global supply chains and examines the role of China in East Asia's regional economic integration.It evaluates the impact of geoeconomic fragmentation along different dimensions such as trade, FDI and capital flows, and provides insights into different industries and sectors where trade and investments are increasingly being reallocated and reshuffled. The book further explores how geopolitics may accelerate the internationalisation of China's renminbi, which herald significant implications for the international monetary system. As geopolitical tensions arising from the US-China trade war continue to persist, the global semiconductor industry has also become the epicentre of US-China strategic rivalry, placing immense strain on its fragmented, global value chain. This book analyses the implications of this intensifying technological rivalry for East Asia, including the ASEAN economies.This book will be of interest to scholars and students of Asian economics, international trade, and geoeconomics. Policymakers searching for insight into Asian trade and financial markets may also find this book useful.

Issues and Implications

Geopolitics, China and the Global Supply Chain

Cold War History

This book is an&nbsp;historical investigation into the role of the European Community in the overcoming of the East-West divide during the Cold War.

This book is an&nbsp;historical investigation into the role of the European Community in the overcoming of the East-West divide during the Cold War.

Challenging the Cold War Order in Europe

The European Community and Eastern Europe in the Long 1970s

This book tackles pressing moral questions raised by legal rights-differentiation by citizenship status by drawing on the ethics of migration, citizenship, multiculturalism, refuge as well as on normative theories of law, territory, and settler colonialism.

Justice for Denizens

Victims, Culture and Society

Drawing upon a wealth of original testimonies, this book investigates the status of convicted military veterans in the United Kingdom post 9/11 and provides a comprehensive criminological analysis of the experiences of war and life after it.

Drawing upon a wealth of original testimonies, this book investigates the status of convicted military veterans in the United Kingdom post 9/11 and provides a comprehensive criminological analysis of the experiences of war and life after it.

Reimagining the Veteran

Violence, Vulnerability and the Legacies of War

From the rise of China as a technological superpower, to wars on its eastern borders, to the belief that the US is no longer a reliable ally, the European Commission sees the world as more unstable than at any other time in recent history. As such, the Commission has become the Geopolitical Commission, working to serve the interests of the Geopolitical Union. Central to many of these conflicts is technology - who produces it, where it is produced, and who controls it. These questions are central to the Commission's pursuit of digital/technological sovereignty, Europe's attempt to regain control of technology regulation. Focusing on topics such as setting technological standards, ensuring access to microchips, reining in online platforms, and securing rules for industrial data and AI, this book explores the EU's approach to lawmaking in this field; increased regulatory oversight and promotion of industrial policy at home, while exporting its rules abroad.

Europe's Attempt to Take Back Control of Technology Regulation

Geopolitical Union

The first major publication on mass fatality management when it was published in 1999, the new edition of this bestseller is greatly revised and expanded. Eight new chapters include such topics as international resources, multi-national events, data management, identification management, repatriation, mass burial, and management of contaminated human remains. This revision is based on world events of the past 15 years, many of which the author managed. It includes expanded information on morgue operations, reflects increasing sensitivity to cultural differences, and provides the latest direction for handling the media.

The first major publication on mass fatality management when it was published in 1999, the new edition of this bestseller is greatly revised and expanded. Eight new chapters include such topics as international resources, multi-national events, data management, identification management, repatriation, mass burial, and management of contaminated human remains. This revision is based on world events of the past 15 years, many of which the author managed. It includes expanded information on morgue operations, reflects increasing sensitivity to cultural differences, and provides the latest direction for handling the media.

A Field Guide, Second Edition

Mass Fatality and Casualty Incidents

It's 1 a.m. in central Gaza, and emergency physician Salman Khalid is jolted awake by a text message that simply says, "mass casualty." As part of a three-member team providing care at al-Aqsa Hospital, Dr. Khalid rushes to the scene, where he is greeted by a heartbreaking sight--a family of five siblings, all under 18, suffering from horrific injuries after their tent in a designated humanitarian zone was bombed while they slept. This despairing reality is a daily occurrence in Gaza, where innocent civilians suffer under the violence of settler colonialism. In Gaza: A Doctor's Diary, Salman Khalid offers a poignant and deeply personal journal of his volunteer mission in Gaza. Over the course of a month, he captures the stark realities of life in a war zone, revealing the harrowing conditions faced by patients and medical professionals alike. With unflinching honesty, he reflects on the trauma, tragedy, resilience, and humanity that persist amid destruction and violence. This firsthand account of the brutality of the genocide in Gaza invites readers to witness the power of compassion in the face of unimaginable horror. All proceeds from the book will be donated to Humanity Auxilium, an American and Canadian NGO that is one of 25 organisations worldwide that has paired with the WHO to get people and supplies into Gaza.

A Doctor's Diary

Gaza

Inside the Situation Room

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