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The first book to reveal how the Federal Reserve holds the key to making us more economically equal, written by an author with unparalleled expertise in the real world of financial policy Following the 2008 financial crisis, the Federal Reserve’s monetary policy placed much greater focus on stabilizing the market than on helping struggling Americans. As a result, the richest Americans got a lot richer while the middle class shrank and economic and wealth inequality skyrocketed. In Engine of Inequality, Karen Petrou offers pragmatic solutions for creating more inclusive monetary policy and equality-enhancing financial regulation as quickly and painlessly as possible. Karen Petrou is a leading financial-policy analyst and consultant with unrivaled knowledge of what drives the decisions of federal officials and how big banks respond to financial policy in the real world. Instead of proposing legislation that would never pass Congress, the author provides an insider's look at politically plausible, high-impact financial policy fixes that will radically shift the equality balance. Offering an innovative, powerful, and highly practical solution for immediately turning around the enormous nationwide problem of economic inequality, this groundbreaking book: Presents practical ways America can and should tackle economic inequality with fast-acting results Provides revealing examples of exactly how bad economic inequality in America has become no matter how hard we all work Demonstrates that increasing inequality is disastrous for long-term economic growth, political action, and even personal happiness Explains why your bank's interest rates are still only a fraction of what they were even though the rich are getting richer than ever, faster than ever Reveals the dangers of FinTech and BigTech companies taking over banking Shows how Facebook wants to control even the dollars in your wallet Discusses who shares the blame for our economic inequality, including the Fed, regulators, Congress, and even economists Engine of Inequality: The Fed and the Future of Wealth in America should be required reading for leaders, policymakers, regulators, media professionals, and all Americans wanting to ensure that the nation’s financial policy will be a force for promoting economic equality.
The American economy has been turned upside down during the past decade in one of the most tumultuous economic revolutions in world history. The result: the United States has put more distance between itself and its commercial rivals than anyone imagined possible. Annual growth in the U.S. economy matches the size of whole countries. The Dow Jones Industrial Average has reached once-unthinkable heights. Three-quarters of the world's top fifty companies are now American. In FutureWealth, a superbly researched book, the authors provide a startling new way of looking at America's success. The reason for our exceptional performance is the breathtaking pace at which U.S. companies today substitute information for all other resources at their disposal. The authors explore major companies that have substituted information throughout their operations. They also show how the results have been dramatic in those companies' expanded bottom lines and rising stock valuations-- and how investors can both learn and profit from the information revolution around us. FutureWealth is a landmark book and a very timely read for investors, managers, and policy makers the world over.
Leaving children with a substantial amount of money can be a boon or a burden. High-net-worth parents need to give their children an education to navigate today’s complex world. The question becomes how to raise children with a sense of reality and balance, imparting a strong work ethic, and making them good stewards of their wealth. Kids, Wealth, and Consequences enlightens high-net-worth parents about the unique issues they need to explore. The book addresses the ”hard” financial issues, such as investing and estate planning, as well as the “soft” emotional issues relating to values, family, and communication. Morris and Pearl detail strategies and techniques to help parents raise children who appreciate and know how to manage the wealth they inherit. Richard Morris spent many years working for his family's multimillion dollar business, and learned firsthand the challenges of business ownership and family wealth. Jayne Pearl is an experienced journalist who writes about families, family businesses, and money.
Since the mid-1960s, Alvin and Heidi Toffler have predicted the far-reaching impact of emerging technological, economic, and social developments on our businesses, governments, families, and daily lives. In REVOLUTIONARY WEALTH, they once again demonstrate their unparalleled ability to illuminate current trends and anticipate what they mean for the future. REVOLUTIONARY WEALTH focuses on how wealth will be created—and who will get it—in the twenty-first century. As the knowledge-based economy (a reality the Tofflers predicted forty years ago) continues to replace the industrial-based economy, they argue, money is no longer the sole determinate of wealth. The Tofflers explain that we are becoming a nation of “prosumers,” consuming what we ourselves produce, and argue that we have all taken on “third jobs”—work we unwittingly do without pay for some of the biggest corporations in the country. Using fascinating examples from our daily lives, they illustrate how our everyday activities—from parenting and volunteering to blogging, painting our houses, and improving our diets—contribute to a non-monetary economy that is largely hidden from economists. Writing with the same insight and clarity that made their earlier books bestsellers, the Tofflers present fresh, groundbreaking new ways of thinking about wealth.
Countries regularly track gross domestic product (GDP) as an indicator of their economic progress, but not wealth—the assets such as infrastructure, forests, minerals, and human capital that produce GDP. In contrast, corporations routinely report on both their income and assets to assess their economic health and prospects for the future. Wealth accounts allow countries to take stock of their assets to monitor the sustainability of development, an urgent concern today for all countries. The Changing Wealth of Nations 2018: Building a Sustainable Future covers national wealth for 141 countries over 20 years (1995†“2014) as the sum of produced capital, 19 types of natural capital, net foreign assets, and human capital overall as well as by gender and type of employment. Great progress has been made in estimating wealth since the fi rst volume, Where Is the Wealth of Nations? Measuring Capital for the 21st Century, was published in 2006. New data substantially improve estimates of natural capital, and, for the fi rst time, human capital is measured by using household surveys to estimate lifetime earnings. The Changing Wealth of Nations 2018 begins with a review of global and regional trends in wealth over the past two decades and provides examples of how wealth accounts can be used for the analysis of development patterns. Several chapters discuss the new work on human capital and its application in development policy. The book then tackles elements of natural capital that are not yet fully incorporated in the wealth accounts: air pollution, marine fi sheries, and ecosystems. This book targets policy makers but will engage anyone committed to building a sustainable future for the planet.
Tax-Free Wealth is about tax planning concepts. It’s about how to use your country’s tax laws to your benefit. In this book, Tom Wheelwright will tell you how the tax laws work. And how they are designed to reduce your taxes, not to increase your taxes. Once you understand this basic principle, you no longer need to be afraid of the tax laws. They are there to help you and your business—not to hinder you. Once you understand the basic principles of tax reduction, you can begin, immediately, reducing your taxes. Eventually, you may even be able to legally eliminate your income taxes and drastically reduce your other taxes. Once you do that, you can live a life of Tax-Free Wealth.
A radical realignment in the nature of wealth is under way--transforming ordinary individuals into powerful stewards of their own financial futures, and all corporations into risk managers. Deep structural shifts in financial markets and in economic value are profoundly altering the nature of wealth, catapulting most workers from spectators to players in the new economy. As of mid-1998, American households controlled 59 percent of all stocks held in the nation, a figure that underscores a fundamental new truth: wealth is not just for the wealthy anymore. In business, change occurs so fast that once-internal management activities, like setting prices, are now migrating into the marketplace. The role of human resource departments will transition from managers of administrative functions to builders of human asset portfolios, as the labor market establishes a price for each employee. And strategic risk units, the complement to strategic business units, will enable companies to identify, isolate, and trade risks in financial markets. In Future Wealth--the companion volume to the authors' bestselling book Blur, and the long-awaited follow-up to Stan Davis' famous Future Perfect--Davis and Meyer offer a compelling vision of what lies ahead. It relies on three major consequences of the newly connected economy: risk as an opportunity, not a threat; the growing efficiency of financial markets for human capital; and the need for new forms of social capital. These three developments are combining in ways that will forever change how individuals, companies, and societies create, accumulate, control, and distribute wealth. According to Davis and Meyer, wealth creation in the Information Age has been more financial (bearing, trading, and managing risks) than real (producing and consuming goods); wealth accumulation is shifting from earned income (salaries) to unearned (investments); and control of wealth is shifting from institutions to individuals. Davis and Meyer describe a world in the not-so-distant future in which we will trade everything of value--including human capital, talent, and other intangibles--in efficient markets. Companies will begin to invest directly in their employees, not secondarily through training and development, and to treat business units as units of financial risk whose worth equals the quality of their intellectual capital. Individuals will think less about jobs and more about investing in their own human capital. As average citizens gain more knowledge about investments, they will begin to accept higher risk for the potential of higher rewards, turning the concept of risk from threat to opportunity. But future wealth will depend not merely on a healthy appetite for risk, but also on stronger social safety nets designed to balance new individual freedoms with commensurate order. From how we work and earn, spend and save, manage our corporations, plan our mortgages, taxes, retirement, and more--the new economy will provide opportunities for every individual to reap unprecedented rewards. Describing both the enormous possibilities and potential consequences of this exciting new world, Davis and Meyer outline the principles that will help make every person's net worth and every corporation's growth add up to a society rich in both the human, financial, and real aspects of wealth.
Most family business owners and wealth creators share an important vision: perpetuating family and wealth for many generations to come. To ensure wealth continuity, many families put into place various structures, plans, and processes, including estate plans (which may include multiple trusts), ownership succession plans, governance structures/strategies, and others. These sometimes-elaborate plans are aimed at preserving family wealth. In reality, for many families, they don’t. In fact, it has been estimated that a majority of estate plans in place fail, largely as a result of family conflict or communication problems. Author David Lansky reveals here that too many one-size-fits-all and elaborate continuity plans fail to take into account the idiosyncratic family factors that can interfere with continuity planning. Lansky details further how building the right foundation will help families implement the best continuity plans. Addressing that foundation effectively includes understanding the building blocks that make it up, assessing their strengths, and developing strategies to improve them. The specific building blocks include:• Learning Capacity • Familyness • Safe Communication Culture • Commitment to Personal Development• Effective Leadership of Change While richly informative, this book is not intended as a training manual, but rather as a starting point for important ideas and conversations. In fact, the goal of this book is to help families consider several related factors that go into a foundation for continuity, and to build more effective continuity plans and strategies based on their assessments.
Implementing a financial plan to manage the future is very important. If you have not assembled such a plan, or even if you have not thought about how best to manage your financial future, the time to do so is now, and the resource you need to walk you through every step of the personal financial planning process is Plan Your Financial Future. Regardless of whether you are a recent college graduate or have spent the past several decades in the working world, Plan Your Financial Future will give you the smart, commonsense advice you need to get your financial life in order. Written by an expert and long-standing educator in the field of personal financial planning, Plan Your Financial Future is a comprehensive, objective, and pertinent guidebook for readers of all income levels who want to grow their net worth on a steady and increasing basis. Covering all the financial bases you can reasonably expect to confront in your lifetime, like insurance, investing, income tax planning, Social Security, Medicare, and more, this vital resource begins with techniques to protect a consumer's personal and business assets. It then transitions into the wealth accumulation process and outlines tax management measures, as well as the distribution of wealth for higher education, retirement, and estate planning purposes. Filled with in-depth insight and invaluable financial planning advice, this unique guide explains how to: Insure yourself, your family, and your property against the possibility of significant loss; Invest in financial or real assets—or both; Practice effective tax planning and management techniques; Distribute your estate at death to your intended beneficiaries in a tax-efficient manner; And much more. With its no-nonsense, straightforward style and holistic view of the financial planning process, Plan Your Financial Future is the one resource you need to become a more knowledgeable saver and translate those savings into the accumulation of future wealth.