The Two-Party Trap

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Author :
Publisher : McFarland
ISBN 13 : 1476647038
Total Pages : 232 pages
Book Rating : 4.4/5 (766 download)

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Book Synopsis The Two-Party Trap by : Steven Verrier

Download or read book The Two-Party Trap written by Steven Verrier and published by McFarland. This book was released on 2022-08-12 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States has become increasingly polarized, although the concept of a two-party system is not new. This book traces the major parties' utter dominance--of the highest elected positions all the way down to "nonpartisan" political offices across the U.S.--from the founding of the Constitution through the 2020 presidential election. Even before the founding of the "modern" Republican Party in 1854 and the next 168-year era of Democratic-GOP dominance, the early decades of American nationhood were ruled in a similar manner by the two major parties of the day. This book is a comprehensive, fast-paced analysis of how the two-party system has grown to be such an affront to the ideals of the Founding Fathers and of the numerous Americans today who appear to accept it as a fact of life.

The Politics Industry

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Author :
Publisher : Harvard Business Press
ISBN 13 : 1633699242
Total Pages : 316 pages
Book Rating : 4.6/5 (336 download)

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Book Synopsis The Politics Industry by : Katherine M. Gehl

Download or read book The Politics Industry written by Katherine M. Gehl and published by Harvard Business Press. This book was released on 2020-06-23 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: Leading political innovation activist Katherine Gehl and world-renowned business strategist Michael Porter bring fresh perspective, deep scholarship, and a real and actionable solution, Final Five Voting, to the grand challenge of our broken political and democratic system. Final Five Voting has already been adopted in Alaska and is being advanced in states across the country. The truth is, the American political system is working exactly how it is designed to work, and it isn't designed or optimized today to work for us—for ordinary citizens. Most people believe that our political system is a public institution with high-minded principles and impartial rules derived from the Constitution. In reality, it has become a private industry dominated by a textbook duopoly—the Democrats and the Republicans—and plagued and perverted by unhealthy competition between the players. Tragically, it has therefore become incapable of delivering solutions to America's key economic and social challenges. In fact, there's virtually no connection between our political leaders solving problems and getting reelected. In The Politics Industry, business leader and path-breaking political innovator Katherine Gehl and world-renowned business strategist Michael Porter take a radical new approach. They ingeniously apply the tools of business analysis—and Porter's distinctive Five Forces framework—to show how the political system functions just as every other competitive industry does, and how the duopoly has led to the devastating outcomes we see today. Using this competition lens, Gehl and Porter identify the most powerful lever for change—a strategy comprised of a clear set of choices in two key areas: how our elections work and how we make our laws. Their bracing assessment and practical recommendations cut through the endless debate about various proposed fixes, such as term limits and campaign finance reform. The result: true political innovation. The Politics Industry is an original and completely nonpartisan guide that will open your eyes to the true dynamics and profound challenges of the American political system and provide real solutions for reshaping the system for the benefit of all. THE INSTITUTE FOR POLITICAL INNOVATION The authors will donate all royalties from the sale of this book to the Institute for Political Innovation.

Beyond the Messy Truth

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Author :
Publisher : Ballantine Books
ISBN 13 : 0399180036
Total Pages : 257 pages
Book Rating : 4.3/5 (991 download)

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Book Synopsis Beyond the Messy Truth by : Van Jones

Download or read book Beyond the Messy Truth written by Van Jones and published by Ballantine Books. This book was released on 2017-10-10 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: NEW YORK TIMES BESTSELLER • A passionate manifesto that exposes hypocrisy on both sides of the political divide and points a way out of the tribalism that is tearing America apart—from the CNN host hailed as “a star of the 2016 campaign” (The New York Times), now seen on The Van Jones Show Van Jones burst into the American consciousness during the 2016 presidential campaign with an unscripted, truth-telling style and an already established history of bridge-building across party lines. His election night commentary, during which he coined the term “whitelash,” became a viral sensation. A longtime progressive activist with deep roots in the conservative South, Jones has made it his mission to challenge voters and viewers to stand in one another’s shoes and disagree constructively. In Beyond the Messy Truth, he offers a blueprint for transforming our collective anxiety into meaningful change. Jones urges both parties to abandon the politics of accusation. He issues a stirring call for a new “bipartisanship from below,” pointing us toward practical answers to problems that affect us all regardless of region or ideology. He wants to tackle rural and inner-city poverty, unemployment, addiction, unfair incarceration, and the devastating effects of the pollution-based economy on both coal country and our urban centers. Along the way, Jones shares memories from his decades of activism on behalf of working people, inspiring stories of ordinary citizens who became champions of their communities, and little-known examples of cooperation in the midst of partisan conflict. In his quest for positive solutions, Van Jones encourages us to set fire to our old ways of thinking about politics and come together to help those most in need. Includes an invaluable resource of contacts, books, media, and organizations for bipartisan bridge-building and problem solving. “Van Jones is a light in the darkness when we need it most. In the tradition of the great bridge builders of our past, Van’s love for this country and all its people shines through.”—Cory Booker, U.S. senator, New Jersey “Van Jones’s voice has become an integral part of our national political debate. He is one of the most provocative and interesting political figures in the country.”—Bernie Sanders, U.S. senator, Vermont

Breaking the Two-party Doom Loop

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Author :
Publisher : Oxford University Press, USA
ISBN 13 : 0190913851
Total Pages : 369 pages
Book Rating : 4.1/5 (99 download)

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Book Synopsis Breaking the Two-party Doom Loop by : Lee Drutman

Download or read book Breaking the Two-party Doom Loop written by Lee Drutman and published by Oxford University Press, USA. This book was released on 2020 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: American democracy is in deep crisis. But what do we do about it? That depends on how we understand the current threat.In Breaking the Two-Party Doom Loop, Lee Drutman argues that we now have, for the first time in American history, a genuine two-party system, with two fully-sorted, truly national parties, divided over the character of the nation. And it's a disaster. It's a party system fundamentally at odds withour anti-majoritarian, compromise-oriented governing institutions. It threatens the very foundations of fairness and shared values on which our democracy depends.Deftly weaving together history, democratic theory, and cutting-edge political science research, Drutman tells the story of how American politics became so toxic and why the country is now trapped in a doom loop of escalating two-party warfare from which there is only one escape: increase the numberof parties through electoral reform. As he shows, American politics was once stable because the two parties held within them multiple factions, which made it possible to assemble flexible majorities and kept the climate of political combat from overheating. But as conservative Southern Democrats andliberal Northeastern Republicans disappeared, partisan conflict flattened and pulled apart. Once the parties became fully nationalized - a long-germinating process that culminated in 2010 - toxic partisanship took over completely. With the two parties divided over competing visions of nationalidentity, Democrats and Republicans no longer see each other as opponents, but as enemies. And the more the conflict escalates, the shakier our democracy feels.Breaking the Two-Party Doom Loop makes a compelling case for large scale electoral reform - importantly, reform not requiring a constitutional amendment - that would give America more parties, making American democracy more representative, more responsive, and ultimately more stable.

Avoiding the Trap

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Author :
Publisher :
ISBN 13 : 9781584877769
Total Pages : 454 pages
Book Rating : 4.8/5 (777 download)

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Book Synopsis Avoiding the Trap by : David Lai

Download or read book Avoiding the Trap written by David Lai and published by . This book was released on 2017 with total page 454 pages. Available in PDF, EPUB and Kindle. Book excerpt: This U.S. Army War College report provides analysis and policy recommendations on topics regarding the instruments of national power, regional affairs, and key Asia-Pacific countries. The key findings are rooted in the following overarching concepts: Strategic Goal: Ensure American leadership, security, and prosperity; Strategic Task: Accommodate China's rise through competition without conflict;Strategic Vision: Economy by priority; enabled by military power; tempered by diplomacy.

Firefly Lane

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Author :
Publisher : St. Martin's Press
ISBN 13 : 1429927844
Total Pages : 532 pages
Book Rating : 4.4/5 (299 download)

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Book Synopsis Firefly Lane by : Kristin Hannah

Download or read book Firefly Lane written by Kristin Hannah and published by St. Martin's Press. This book was released on 2008-02-05 with total page 532 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the New York Times bestselling author Kristin Hannah comes a powerful novel of love, loss, and the magic of friendship. . . . now a #1 Netflix series! In the turbulent summer of 1974, Kate Mularkey has accepted her place at the bottom of the eighth-grade social food chain. Then, to her amazement, the "coolest girl in the world" moves in across the street and wants to be her friend. Tully Hart seems to have it all---beauty, brains, ambition. On the surface they are as opposite as two people can be: Kate, doomed to be forever uncool, with a loving family who mortifies her at every turn. Tully, steeped in glamour and mystery, but with a secret that is destroying her. They make a pact to be best friends forever; by summer's end they've become TullyandKate. Inseparable. So begins Kristin Hannah's magnificent new novel. Spanning more than three decades and playing out across the ever-changing face of the Pacific Northwest, Firefly Lane is the poignant, powerful story of two women and the friendship that becomes the bulkhead of their lives. From the beginning, Tully is desperate to prove her worth to the world. Abandoned by her mother at an early age, she longs to be loved unconditionally. In the glittering, big-hair era of the eighties, she looks to men to fill the void in her soul. But in the buttoned-down nineties, it is television news that captivates her. She will follow her own blind ambition to New York and around the globe, finding fame and success . . . and loneliness. Kate knows early on that her life will be nothing special. Throughout college, she pretends to be driven by a need for success, but all she really wants is to fall in love and have children and live an ordinary life. In her own quiet way, Kate is as driven as Tully. What she doesn't know is how being a wife and mother will change her . . . how she'll lose sight of who she once was, and what she once wanted. And how much she'll envy her famous best friend. . . . For thirty years, Tully and Kate buoy each other through life, weathering the storms of friendship---jealousy, anger, hurt, resentment. They think they've survived it all until a single act of betrayal tears them apart . . . and puts their courage and friendship to the ultimate test. Firefly Lane is for anyone who ever drank Boone's Farm apple wine while listening to Abba or Fleetwood Mac. More than a coming-of-age novel, it's the story of a generation of women who were both blessed and cursed by choices. It's about promises and secrets and betrayals. And ultimately, about the one person who really, truly knows you---and knows what has the power to hurt you . . . and heal you. Firefly Lane is a story you'll never forget . . . one you'll want to pass on to your best friend.

Traps

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Author :
Publisher : Vintage
ISBN 13 : 0307959740
Total Pages : 226 pages
Book Rating : 4.3/5 (79 download)

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Book Synopsis Traps by : MacKenzie Bezos

Download or read book Traps written by MacKenzie Bezos and published by Vintage. This book was released on 2013-03-12 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reclusive movie star Jessica Lessing is finally coming out of hiding—to confront her father, a con man who has been selling her out to the paparazzi for years. On her four-day road trip to Las Vegas, she encounters three unexpected allies—Vivian, a teenager with newborn twins; Lynn, a dog shelter owner living in isolation on a ranch in rural Nevada; and Dana, a fearless ex-military bodyguard wrestling with secrets of her own. As their fates collide, each woman will find a chance at redemption that she never would have thought possible. MacKenzie Bezos’s taut prose, tough characters, and nuanced insights give this novel a complexity that few thrillers can match. This ebook edition includes a Reading Group Guide.

The Two-Income Trap

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Author :
Publisher : Basic Books
ISBN 13 : 0465097715
Total Pages : 210 pages
Book Rating : 4.4/5 (65 download)

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Book Synopsis The Two-Income Trap by : Elizabeth Warren

Download or read book The Two-Income Trap written by Elizabeth Warren and published by Basic Books. This book was released on 2016-04-12 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: From #1 New York Times bestselling author Senator Elizabeth Warren and consultant Amelia Warren Tyagi, the classic book about America's middle class -- and why economic security remains out of reach for many. In this exposé, Elizabeth Warren and Amelia Warren Tyagi show that modern middle-class families are increasingly trapped by the grinding reality of flat wages and rising costs. Warren and Tyagi reveal how a ferocious bidding war for housing and education has silently engulfed America's suburbs, driving up the cost of keeping families in the middle class, and placing unprecedented pressure on hard-working families. Revolutionary when it was first published in 2003, The Two-Income Trap remains disturbingly relevant today. Now with a new introduction by the authors, The Two Income Trap shows why the usual remedies won't solve the problem and points toward the policy changes that would create better opportunities for both parents and children.

The Confidence Trap

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Author :
Publisher : Princeton University Press
ISBN 13 : 0691178135
Total Pages : 424 pages
Book Rating : 4.6/5 (911 download)

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Book Synopsis The Confidence Trap by : David Runciman

Download or read book The Confidence Trap written by David Runciman and published by Princeton University Press. This book was released on 2017-10-31 with total page 424 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why democracies believe they can survive any crisis—and why that belief is so dangerous Why do democracies keep lurching from success to failure? The current financial crisis is just the latest example of how things continue to go wrong, just when it looked like they were going right. In this wide-ranging, original, and compelling book, David Runciman tells the story of modern democracy through the history of moments of crisis, from the First World War to the economic crash of 2008. A global history with a special focus on the United States, The Confidence Trap examines how democracy survived threats ranging from the Great Depression to the Cuban missile crisis, and from Watergate to the collapse of Lehman Brothers. It also looks at the confusion and uncertainty created by unexpected victories, from the defeat of German autocracy in 1918 to the defeat of communism in 1989. Throughout, the book pays close attention to the politicians and thinkers who grappled with these crises: from Woodrow Wilson, Nehru, and Adenauer to Fukuyama and Obama. In The Confidence Trap, David Runciman shows that democracies are good at recovering from emergencies but bad at avoiding them. The lesson democracies tend to learn from their mistakes is that they can survive them—and that no crisis is as bad as it seems. Breeding complacency rather than wisdom, crises lead to the dangerous belief that democracies can muddle through anything—a confidence trap that may lead to a crisis that is just too big to escape, if it hasn't already. The most serious challenges confronting democracy today are debt, the war on terror, the rise of China, and climate change. If democracy is to survive them, it must figure out a way to break the confidence trap.

Beyond Budgeting

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Author :
Publisher : Harvard Business Press
ISBN 13 : 1578518660
Total Pages : 254 pages
Book Rating : 4.5/5 (785 download)

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Book Synopsis Beyond Budgeting by : Jeremy Hope

Download or read book Beyond Budgeting written by Jeremy Hope and published by Harvard Business Press. This book was released on 2003 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: The annual budgeting process is a trap. Pressured by fixed targets and performance incentives, managers focus on making the numbers instead of making a difference, meeting set goals instead of maximizing potential. With their compensation at stake, managers often resort to deceitful-even unethical-behavior. In the end, everybody loses-the employee, the company, and ultimately the customer. Now, finance experts Jeremy Hope and Robin Fraser reveal the results of an intensive study aimed at fixing the broken budgeting process. They argue that companies must abandon traditional budgeting contracts in favor of a radical new model that links performance measurement to evolving competitive benchmarks-and shifts the firm's focus from controlling employee behavior to delivering customer value. The Beyond Budgeting model is built on the best practices of companies that have successfully revised their centralized planning and budgeting processes. It combines a leadership vision that devolves more authority to operating managers and a finance vision that enables fast decision making through appropriate tools and accessible information. Through vivid examples, Hope and Fraser illustrate how companies can implement these shared visions-and the long-term benefits that accrue from embracing them. Offering a compelling case for breaking free from the budgeting trap, this book paves the way toward making organizations better places to work for, invest in, and do business with.

Beyond Selling Value

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Author :
Publisher : Kaplan Test Prep
ISBN 13 : 9780793154708
Total Pages : 308 pages
Book Rating : 4.1/5 (547 download)

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Book Synopsis Beyond Selling Value by : Mark Shonka

Download or read book Beyond Selling Value written by Mark Shonka and published by Kaplan Test Prep. This book was released on 2002-09-16 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: How to sell value, increase margins, make price irrelevant, win executive-level credibility, and create competitive immunity. Selling value is taking on a whole new meaning for sales professionals. Here's a proven process pros can use to address their customer's pressing business issues, position themselves as strategic partners, and recommend solutions that improve the way their customers do business. In Beyond Selling Value, top sales consultants Mark Shonka and Dan Kosch share their proven process for becoming a critical partner in their customers' success. From targeting the most promising prospects, to bypassing the gatekeepers, to reaching the decision makers who are empowered to buy, and to closing the deal with a powerful presentation, the authors impart their battle tested secrets to forging long term business relationships. For sales professionals tired of being beaten up on price, here is a new way to leverage their strengths, elevate their sales game, and establish relationships with those who appreciate their value. Selling Power magazine calls it "a detailed, street smart roadmap".

The Way We Never Were

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Author :
Publisher : Basic Books
ISBN 13 : 0465098843
Total Pages : 361 pages
Book Rating : 4.4/5 (65 download)

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Book Synopsis The Way We Never Were by : Stephanie Coontz

Download or read book The Way We Never Were written by Stephanie Coontz and published by Basic Books. This book was released on 2016-03-29 with total page 361 pages. Available in PDF, EPUB and Kindle. Book excerpt: The definitive edition of the classic, myth-shattering history of the American family Leave It to Beaver was not a documentary, a man's home has never been his castle, the "male breadwinner marriage" is the least traditional family in history, and rape and sexual assault were far higher in the 1970s than they are today. In The Way We Never Were, acclaimed historian Stephanie Coontz examines two centuries of the American family, sweeping away misconceptions about the past that cloud current debates about domestic life. The 1950s do not present a workable model of how to conduct our personal lives today, Coontz argues, and neither does any other era from our cultural past. This revised edition includes a new introduction and epilogue, exploring how the clash between growing gender equality and rising economic inequality is reshaping family life, marriage, and male-female relationships in our modern era. More relevant than ever, The Way We Never Were is a potent corrective to dangerous nostalgia for an American tradition that never really existed.

Trapped Under the Sea

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Author :
Publisher : Crown
ISBN 13 : 0307886735
Total Pages : 434 pages
Book Rating : 4.3/5 (78 download)

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Book Synopsis Trapped Under the Sea by : Neil Swidey

Download or read book Trapped Under the Sea written by Neil Swidey and published by Crown. This book was released on 2015-02-17 with total page 434 pages. Available in PDF, EPUB and Kindle. Book excerpt: The harrowing story of five men who were sent into a dark, airless, miles-long tunnel, hundreds of feet below the ocean, to do a nearly impossible job—with deadly results A quarter-century ago, Boston had the dirtiest harbor in America. The city had been dumping sewage into it for generations, coating the seafloor with a layer of “black mayonnaise.” Fisheries collapsed, wildlife fled, and locals referred to floating tampon applicators as “beach whistles.” In the 1990s, work began on a state-of-the-art treatment plant and a 10-mile-long tunnel—its endpoint stretching farther from civilization than the earth’s deepest ocean trench—to carry waste out of the harbor. With this impressive feat of engineering, Boston was poised to show the country how to rebound from environmental ruin. But when bad decisions and clashing corporations endangered the project, a team of commercial divers was sent on a perilous mission to rescue the stymied cleanup effort. Five divers went in; not all of them came out alive. Drawing on hundreds of interviews and thousands of documents collected over five years of reporting, award-winning writer Neil Swidey takes us deep into the lives of the divers, engineers, politicians, lawyers, and investigators involved in the tragedy and its aftermath, creating a taut, action-packed narrative. The climax comes just after the hard-partying DJ Gillis and his friend Billy Juse trade assignments as they head into the tunnel, sentencing one of them to death. An intimate portrait of the wreckage left in the wake of lives lost, the book—which Dennis Lehane calls "extraordinary" and compares with The Perfect Storm—is also a morality tale. What is the true cost of these large-scale construction projects, as designers and builders, emboldened by new technology and pressured to address a growing population’s rapacious needs, push the limits of the possible? This is a story about human risk—how it is calculated, discounted, and transferred—and the institutional failures that can lead to catastrophe. Suspenseful yet humane, Trapped Under the Sea reminds us that behind every bridge, tower, and tunnel—behind the infrastructure that makes modern life possible—lies unsung bravery and extraordinary sacrifice.

The American Trap

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Author :
Publisher : Hodder & Stoughton
ISBN 13 : 1529326885
Total Pages : 363 pages
Book Rating : 4.5/5 (293 download)

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Book Synopsis The American Trap by : Frédéric Pierucci

Download or read book The American Trap written by Frédéric Pierucci and published by Hodder & Stoughton. This book was released on 2019-11-14 with total page 363 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2014, France lost part of the control of its nuclear power plants to the United States. Frédéric Pierucci, former senior executive of one of Alstom's power company subsidiaries, found himself at the heart of this state scandal. His story goes to the very core of how he plotted the key features of the secret economic war that the United States is waging in Europe. And after being silenced for a long time, he has decided, with the help of journalist Matthieu Aron, to reveal all. In April 2013, Frédéric Pierucci was arrested in New York by the FBI and accused of bribery. The US authorities imprisoned him for more than two years - including fourteen months in a notorious maximum-security prison. In doing so, they forced Alstom to pay the biggest financial penalty ever imposed by the United States. In the end, Alstom also gave up areas of control to General Electric, its biggest American competitor. Frédéric's story unpacks how the United States is using corporate law as an economic weapon against its own allies. One after the other, some of the world's largest companies are being actively destabilised to the benefit of the US, in acts of economic sabotage that seem to be the beginning of what's to come...

The End of Representative Politics

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Author :
Publisher : John Wiley & Sons
ISBN 13 : 0745690513
Total Pages : 182 pages
Book Rating : 4.7/5 (456 download)

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Book Synopsis The End of Representative Politics by : Simon Tormey

Download or read book The End of Representative Politics written by Simon Tormey and published by John Wiley & Sons. This book was released on 2015-05-19 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: Representative politics is in crisis. Trust in politicians is at an all-time low. Fewer people are voting or joining political parties, and our interest in parliamentary politics is declining fast. Even oppositional and radical parties that should be benefitting from public disenchantment with politics are suffering. But different forms of political activity are emerging to replace representative politics: instant politics, direct action, insurgent politics. We are leaving behind traditional representation, and moving towards a politics without representatives. In this provocative new book, Simon Tormey explores the changes that are underway, drawing on a rich range of examples from the Arab Spring to the Indignados uprising in Spain, street protests in Brazil and Turkey to the emergence of new initiatives such as Anonymous and Occupy. Tormey argues that the easy assumptions that informed our thinking about the nature and role of parties, and ‘party based democracy’ have to be rethought. We are entering a period of fast politics, evanescent politics, a politics of the street, of the squares, of micro-parties, pop-up parties, and demonstrations. This may well be the end of representative politics as we know it, but an exciting new era of political engagement is just beginning.

Mission to Murder

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Author :
Publisher : eKensington
ISBN 13 : 1601832397
Total Pages : 237 pages
Book Rating : 4.6/5 (18 download)

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Book Synopsis Mission to Murder by : Lynn Cahoon

Download or read book Mission to Murder written by Lynn Cahoon and published by eKensington. This book was released on 2014-07-01 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt: A local dispute leads to suspicion of murder for a small-town California bookshop owner in this cozy mystery by the New York Times bestselling author. The small town of South Cove, California, has all kinds of attractions, from resorts and beaches to Jill Gardner’s charming bookshop café. But now Jill may have discovered yet another hidden treasure. The old stone wall on her property might be the remnant of a centuries-old mission worthy of being declared a historical landmark. There’s just one problem—and his name is Craig Morgan. The obnoxious owner of South Cove's most popular tourist spot, The Castle, Craig makes it his business to contest Jill’s claim. When Craig is found murdered at The Castle shortly after a heated argument with Jill, even her detective boyfriend Greg has to ask her for an alibi. Jill decides she must find the real murderer to clear her name. But when the killer comes for her, she'll need to switch from historic preservation to self-preservation.

The Synergy Trap

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Author :
Publisher : Simon and Schuster
ISBN 13 : 1439137706
Total Pages : 321 pages
Book Rating : 4.4/5 (391 download)

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Book Synopsis The Synergy Trap by : Mark L. Sirower

Download or read book The Synergy Trap written by Mark L. Sirower and published by Simon and Schuster. This book was released on 2010-05-11 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: With acquisition activity running into the trillions of dollars, it continues to be a favorite for corporate growth strategy, but creating shareholder value remains the most elusive outcome of these corporate strategies—after decades of research and billions of dollars paid in advisory fees, why do these major decisions continue to destroy value? Building on his groundbreaking research first cited in Business Week, Mark L. Sirower explains how companies often pay too much—and predictably never realize the promises of increased performance and competitiveness—in their quest to acquire other companies. Armed with extensive evidence, Sirower destroys the popular notion that the acquisition premium represents potential value. He provides the first formal and functional definition for synergy -- the specific increases in performance beyond those already expected for companies to achieve independently. Sirower's refreshing nuts-and-bolts analysis of the fundamentals behind acquisition performance cuts sharply through the existing folklore surrounding failed acquisitions, such as lack of "strategic fit" or corporate culture problems, and gives managers the tools to avoid predictable losses in acquisition decisions. Using several detailed examples of recent major acquisitions and through his masterful integration and extension of techniques from finance and business strategy, Sirower reveals: -The unique business gamble that acquisitions represent -The managerial challenges already embedded in current stock prices -The competitive conditions that must be met and the organizational cornerstones that must be in place for any possibility of synergy -The precise Required Performance Improvements (RPIs) implicitly embedded in acquisition premiums and the reasons why these RPIs normally dwarf realistic performance gains -The seductiveness and danger of sophisticated valuation models so often used by advisers The Synergy Trap is the first exposé of its kind to prove that the tendency of managers to succumb to the "up the ante" philosophy in acquisitions often leads to disastrous ends for their shareholders. Sirower shows that companies must meticulously plan—and account for huge uncertainties—before deciding to enter the acquisition game. To date, Sirower's work is the most comprehensive and rigorous, yet practical, analysis of the drivers of acquisition performance. This definitive book will become required reading for managers, corporate directors, consultants, investors, bankers, and academics involved in the mergers and acquisitions arena.