A Street economist's strategy for managing market madness“A punchy and relevant book on our present distress that has, at its core, one very big and useful idea.“ Portfolio “Heeding the lessons of the last few years, as documented in this book, may help both financiers and government policy makers find ways to reduce some future costs of capitalism without sacrificing all the potential rewards.” The New York Times “[Barbera] challenges the blind faith in free markets.” The Economist “Barbera ... [is] one of the few commentators actually saying something interesting and innovative about the crisis.” Asia Times "The Cost of Capitalism is a must-read and a thoroughly enjoyable one―for those who want to understand the Crisis of 2008 and hammer out a new framework for decision making." Jared L. Cohon, President, Carnegie Mellon University "Readers who absorb the lessons of this book will be armed with more than mere technique; they will acquire an attitude that will make them better investors for the rest of their lives." Paul DeRosa, Principal, Mt. Lucas Management Corp. "The Cost of Capitalism translates the economic diagnoses and theories of my father, Hyman Minsky. It captures the vivacity of a post dinner conversation not coincidentally my father's favorite forum for elaborating, educating, and entertaining." Diana Minsky, Art Historian, Bard College "Lucid, intriguing, brilliant! Barbera combines the uncertainty and speculation of Keynes with Schumpeter's "Creative Destruction" and Hy Minsky's "Deflationary Destruction" into a tasty stew." James R. Schlesinger, former Director, Central Intelligence Agency "Long ago, Bob taught me that if you don't know Minsky, you don't know nothing. This work shows the path out of nothingness." Paul A. McCulley, Chief Investment Officer, Pacific Investment Management Company "Barbera's recommendations are profound in their simplicity. Let us hope Wall Street, Main Street, Washington, and academia embrace them." Jack Rivkin, former Chief Investment Officer, Neuberger Berman "This is truly an extraordinary book that should be of great interest to an extremely wide audience from Wall Street practitioners to economics and finance scholars." Louis Maccini, Professor of Economics, Johns Hopkins University From the panic of 1987 to the tech-bubble burst of 2000, the past two decades have witnessed a series of financial crises, each more disruptive than the last. Unfortunately, they all seem like dress rehearsal for today's debacle. In hindsight, the precipitating factors responsible for each crisis seem clear, yet, in every case, mainstream economists and policy makers were caught off guard. Why didn't they see it coming? What should they have known but didn't? And, most critically, how must they adjust their thinking going forward? In the Cost of Capitalism, Robert Barbera provides compelling answers to all these questions. In the process, he offers the most cogent analysis yet of today's crisis and explains how to manage the ever present potential for mayhem intrinsic to free market economies without stunting innovation and growth. At the core of Barbera's thinking are three assumptions: first, boom and bust cycles have been stoked since 1985 by finance, not inflation; second, Main Street stability paradoxically invites excessive risk taking on Wall Street; and last, these things set the stage for small setbacks to deliver cataclysmic consequences. Barbera applauds current efforts to unabashedly infuse public money into the global economy. It's the only way, he says, to prevent another Great Depression. And, looking beyond the crisis of the moment, Barbera contends that mainstream thinkers need to form a new economic paradigm by embracing the insights of free market champions like Joseph Schumpeter and the cautionary wisdom of Hyman Minsky. Financial market mayhem comes with the territory in a free market system. Nonetheless, innovators and their bankers still offer the world the best chance for a prosperous twenty-first century. Economists, policymakers, and investors must begin to redefine their understanding of free market capitalism. The Cost of Capitalism will set them on that course.

Cost of Capitalism

Barbera, Robert

Standard Use

"A guide to financial decision-making that blends pragmatism and idealism."-Kirkus ReviewsThis book holds top secrets on how you can build real wealth and explains in accessible terms:The Mindset of WealthPower EarningInvesting in Real EstateFamily DevelopmentMastery"Wealth isn't about money. All my adult life, people have asked me, 'Robert, how did you make money? How did you become wealthy?' I've shared that with them-and now with you. First of all, I want you to understand that those are two different questions. Yes, of course, money can help you create wealth. But wealth is far more than a number on your bank statement. So if wealth isn't about money, what exactly is it?"Wealth is independence."Real wealth is the ability to live your life on your own terms. It's the freedom to switch careers, spend time with your family, improve your community, and make a difference in the world. Building Wealth will help you not only to reach your own financial goals, but also to attain this level of wealth."-Robert Barbera

Building Wealth: From Shoeshine Boy to Real Estate Magnate

Business & Money

Real Estate

Barbera Foundation

Money may not grow on trees and maybe there's not a pot of gold at the end of every rainbow. But in Building Wealth 101, entrepreneur and self-made real estate magnate Robert Barbera will show you how to take control of your finances and make your hard-earned money work for you and your future.By following easy-to-follow principles you can create independence and freedom and pave a path to your dreams.Strategies include how to:? Learn to budget? Avoid credit card debt? Pay for college? Start your own business? Buy a home? Understand simple and compound interest? Choose where to invest your hard-earned money? Plan for retirement

Building Wealth 101

Personal Finance

Whether you think it's too late to plan for your golden years or too soon, this book is for you.Join five couples-all at different stages in their lives-on an investment seminar set on a Mississippi riverboat cruise. Financial gurus present in-depth "Reality Checks" of their assets, debts, and savings, providing straightforward examples easily applicable to your life no matter what your circumstances.In the context of national and global economic cycles including inflation, stagflation, recessions, and more, Retire and Refire offers practical and encouraging solutions to ensure your golden years are comfortable and meaningful-whether they are decades away or just around the river bend.Learn the importance of imagining the future you want, nurturing your purpose, and taking care of your family, as well as the pros and cons of:Retirement plansStocks and bondsReal estateLife insuranceAnnuitiesLeveraging your assets and talentsAnd more

Retire and Refire: Financial Strategies for People of All Ages to Navigate Their Golden Years with Ease

Investing

Mentoris Project

See the best price to sell, buy, or rent books by Barbera, Robert. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

Books by Barbera, Robert

See the best price to sell, buy, or rent books by Barbera, Robert. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

Cost of Capitalism

Building Wealth: From Shoeshine Boy to Real Estate Magnate

Building Wealth 101

Retire and Refire: Financial Strategies for People of All Ages to Navigate Their Golden Years with Ease