The Ascent of Money: A Financial History of the World


Niall Ferguson - 2007
    Bread, cash, dosh, dough, loot, lucre, moolah, readies, the wherewithal: Call it what you like, it matters. To Christians, love of it is the root of all evil. To generals, it’s the sinews of war. To revolutionaries, it’s the chains of labor. But in The Ascent of Money, Niall Ferguson shows that finance is in fact the foundation of human progress. What’s more, he reveals financial history as the essential backstory behind all history. With the clarity and verve for which he is known, Ferguson elucidates key financial institutions and concepts by showing where they came from. What is money? What do banks do? What’s the difference between a stock and a bond? Why buy insurance or real estate? And what exactly does a hedge fund do? This is history for the present. Ferguson travels to post-Katrina New Orleans to ask why the free market can’t provide adequate protection against catastrophe. He delves into the origins of the subprime mortgage crisis.

Presence: Bringing Your Boldest Self to Your Biggest Challenges


Amy Cuddy - 2015
    Too often we approach our lives' biggest hurdles with dread, execute them with anxiety, and leave them with regret.By accessing our personal power, we can achieve "presence," the state in which we stop worrying about the impression we're making on others and instead adjust the impression we've been making on ourselves. As Harvard professor Amy Cuddy's revolutionary book reveals, we don't need to embark on a grand spiritual quest or complete an inner transformation to harness the power of presence. Instead, we need to nudge ourselves, moment by moment, by tweaking our body language, behavior, and mind-set in our day-to-day lives.Amy Cuddy has galvanized tens of millions of viewers around the world with her TED talk about "power poses." Now she presents the enthralling science underlying these and many other fascinating body-mind effects, and teaches us how to use simple techniques to liberate ourselves from fear in high-pressure moments, perform at our best, and connect with and empower others to do the same.Brilliantly researched, impassioned, and accessible, Presence is filled with stories of individuals who learned how to flourish during the stressful moments that once terrified them. Every reader will learn how to approach their biggest challenges with confidence instead of dread, and to leave them with satisfaction instead of regret."Presence feels at once concrete and inspiring, simple but ambitious — above all, truly powerful." —New York Times Book Review

The Myth of the Strong Leader: Political Leadership in the Modern Age


Archie Brown - 2014
    Within democracies, although 'strong leaders' are seldom as strong or independent as they purport to be, the idea that one person is entitled to take the big decisions is dangerous nonetheless, and the advantages of a collegial style of leadership are too often overlooked.In reality, only a minority of political leaders make a big difference, by challenging assumptions about the politically possible or setting in motion systemic change. Yet in a democracy that is rare. It is especially when enlightened leaders acquire power in an authoritarian system that the opportunity for radical transformation occurs.Franklin D. Roosevelt and Lyndon B. Johnson, Willy Brandt and Mikhail Gorbachev, Deng Xiaoping and Nelson Mandela, Margaret Thatcher and Tony Blair are among the leaders whom Brown examines in this original and illuminating study.

The Organized Mind: Thinking Straight in the Age of Information Overload


Daniel J. Levitin - 2014
    Levitin shifts his keen insights from your brain on music to your brain in a sea of details.The information age is drowning us with an unprecedented deluge of data. At the same time, we’re expected to make more—and faster—decisions about our lives than ever before. No wonder, then, that the average American reports frequently losing car keys or reading glasses, missing appointments, and feeling worn out by the effort required just to keep up.But somehow some people become quite accomplished at managing information flow. In The Organized Mind, Daniel J. Levitin, PhD, uses the latest brain science to demonstrate how those people excel—and how readers can use their methods to regain a sense of mastery over the way they organize their homes, workplaces, and time.With lively, entertaining chapters on everything from the kitchen junk drawer to health care to executive office workflow, Levitin reveals how new research into the cognitive neuroscience of attention and memory can be applied to the challenges of our daily lives. This Is Your Brain on Music showed how to better play and appreciate music through an understanding of how the brain works. The Organized Mind shows how to navigate the churning flood of information in the twenty-first century with the same neuroscientific perspective.

Global Capitalism: Its Fall and Rise in the Twentieth Century


Jeffry A. Frieden - 2006
    Then as now, many people considered globalization to be inevitable and irreversible. Yet the entire edifice collapsed in a few months in 1914.Globalization is a choice, not a fact. It is a result of policy decisions and the politics that shape them. Jeffry A. Frieden's insightful history explores the golden age of globalization during the early years of the century, its swift collapse in the crises of 1914-45, the divisions of the Cold War world, and the turn again toward global integration at the end of the century. His history is full of character and event, as entertaining as it is enlightening.

Human Action: A Treatise on Economics


Ludwig von Mises - 1940
    Although governments may presume to set "prices," it is individuals who, by their actions and choices through competitive bidding for money, products, and services, actually determine "prices". Thus, Mises presents economics—not as a study of material goods, services, and products—but as a study of human actions. He sees the science of human action, praxeology, as a science of reason and logic, which recognizes a regularity in the sequence and interrelationships among market phenomena. Mises defends the methodology of praxeology against the criticisms of Marxists, socialists, positivists, and mathematical statisticians.Mises attributes the tremendous technological progress and the consequent increase in wealth and general welfare in the last two centuries to the introduction of liberal government policies based on free-market economic teachings, creating an economic and political environment which permits individuals to pursue their respective goals in freedom and peace. Mises also explains the futility and counter-productiveness of government attempts to regulate, control, and equalize all people's circumstances: "Men are born unequal and ... it is precisely their inequality that generates social cooperation and civilization."Ludwig von Mises (1881–1973) was the leading spokesman of the Austrian School of Economics throughout most of the twentieth century. He earned his doctorate in law and economics from the University of Vienna in 1906. In 1926, Mises founded the Austrian Institute for Business Cycle Research. From 1909 to 1934, he was an economist for the Vienna Chamber of Commerce. Before the Anschluss, in 1934 Mises left for Geneva, where he was a professor at the Graduate Institute of International Studies until 1940, when he emigrated to New York City. From 1948 to 1969, he was a visiting professor at New York University.Bettina Bien Greaves is a former resident scholar, trustee, and longtime staff member of the Foundation for Economic Education. She has written and lectured extensively on topics of free market economics. Her articles have appeared in such journals as Human Events, Reason, and The Freeman: Ideas on Liberty. A student of Mises, Greaves has become an expert on his work in particular and that of the Austrian School of economics in general. She has translated several Mises monographs, compiled an annotated bibliography of his work, and edited collections of papers by Mises and other members of the Austrian School.

Adaptive Markets: Financial Evolution at the Speed of Thought


Andrew W. Lo - 2017
    This is one of the biggest debates in economics and the value or futility of investment management and financial regulation hang on the outcome. In this groundbreaking book, Andrew Lo cuts through this debate with a new framework, the Adaptive Markets Hypothesis, in which rationality and irrationality coexist.Drawing on psychology, evolutionary biology, neuroscience, artificial intelligence, and other fields, Adaptive Markets shows that the theory of market efficiency isn't wrong but merely incomplete. When markets are unstable, investors react instinctively, creating inefficiencies for others to exploit. Lo's new paradigm explains how financial evolution shapes behavior and markets at the speed of thought--a fact revealed by swings between stability and crisis, profit and loss, and innovation and regulation.A fascinating intellectual journey filled with compelling stories, Adaptive Markets starts with the origins of market efficiency and its failures, turns to the foundations of investor behavior, and concludes with practical implications--including how hedge funds have become the Galapagos Islands of finance, what really happened in the 2008 meltdown, and how we might avoid future crises.An ambitious new answer to fundamental questions in economics, Adaptive Markets is essential reading for anyone who wants to know how markets really work.

The Psychology of Money


Morgan Housel - 2020
    It’s about how you behave. And behavior is hard to teach, even to really smart people. How to manage money, invest it, and make business decisions are typically considered to involve a lot of mathematical calculations, where data and formulae tell us exactly what to do. But in the real world, people don’t make financial decisions on a spreadsheet. They make them at the dinner table, or in a meeting room, where personal history, your unique view of the world, ego, pride, marketing, and odd incentives are scrambled together. In the psychology of money, the author shares 19 short stories exploring the strange ways people think about money and teaches you how to make better sense of one of life’s most important matters.

The Unwinding: An Inner History of the New America


George Packer - 2013
    Seismic shifts during a single generation have created a country of winners and losers, allowing unprecedented freedom while rending the social contract, driving the political system to the verge of breakdown, and setting citizens adrift to find new paths forward. In The Unwinding, George Packer, author of The Assassins' Gate: America in Iraq, tells the story of the United States over the past three decades in an utterly original way, with his characteristically sharp eye for detail and gift for weaving together complex narratives.The Unwinding journeys through the lives of several Americans, including Dean Price, the son of tobacco farmers, who becomes an evangelist for a new economy in the rural South; Tammy Thomas, a factory worker in the Rust Belt trying to survive the collapse of her city; Jeff Connaughton, a Washington insider oscillating between political idealism and the lure of organized money; and Peter Thiel, a Silicon Valley billionaire who questions the Internet's significance and arrives at a radical vision of the future. Packer interweaves these intimate stories with biographical sketches of the era's leading public figures, from Newt Gingrich to Jay-Z, and collages made from newspaper headlines, advertising slogans, and song lyrics that capture the flow of events and their undercurrents.The Unwinding portrays a superpower in danger of coming apart at the seams, its elites no longer elite, its institutions no longer working, its ordinary people left to improvise their own schemes for success and salvation. Packer's novelistic and kaleidoscopic history of the new America is his most ambitious work to date.One of the iTunes Bookstore's "Ten Books You Must Read This Summer"

Boys Adrift: The Five Factors Driving the Growing Epidemic of Unmotivated Boys and Underachieving Young Men


Leonard Sax - 2005
    From kindergarten to college, American boys are, on average, less resilient and less ambitious than they were a mere twenty years ago. The gender gap in college attendance and graduation rates has widened dramatically. While Emily is working hard at school and getting A’s, her brother Justin is goofing off. He’s more concerned about getting to the next level in his video game than about finishing his homework.Now, Dr. Leonard Sax delves into the scientific literature and draws on more than twenty years of clinical experience to explain why boys and young men are failing in school and disengaged at home. He shows how social, cultural, and biological factors have created an environment that is literally toxic to boys. He also presents practical solutions, sharing strategies which educators have found effective in re-engaging these boys at school, as well as handy tips for parents about everything from homework, to video games, to medication.

Automation and the Future of Work


Aaron Benanav - 2020
    But does the much-discussed 'rise of the robots' really explain the jobs crisis that awaits us on the other side of the coronavirus? In Automation and the Future of Work, Aaron Benanav uncovers the structural economic trends that will shape our working lives far into the future. What social movements, he asks, are required to propel us into post-scarcity, if technological innovation alone can’t deliver it? In response to calls for a universal basic income that would maintain a growing army of redundant workers, he offers a counter-proposal.

The Culture of Narcissism: American Life in An Age of Diminishing Expectations


Christopher Lasch - 1978
    Lasch’s identification of narcissism as not only an individual ailment but also a burgeoning social epidemic was groundbreaking. His diagnosis of American culture is even more relevant today, predicting the limitless expansion of the anxious and grasping narcissistic self into every part of American life.The Culture of Narcissism offers an astute and urgent analysis of what we need to know in these troubled times.

The Physics of Wall Street: A Brief History of Predicting the Unpredictable


James Owen Weatherall - 2013
    While many of the mathematicians and software engineers on Wall Street failed when their abstractions turned ugly in practice, a special breed of physicists has a much deeper history of revolutionizing finance. Taking us from fin-de-siècle Paris to Rat Pack-era Las Vegas, from wartime government labs to Yippie communes on the Pacific coast, Weatherall shows how physicists successfully brought their science to bear on some of the thorniest problems in economics, from options pricing to bubbles.The crisis was partly a failure of mathematical modeling. But even more, it was a failure of some very sophisticated financial institutions to think like physicists. Models—whether in science or finance—have limitations; they break down under certain conditions. And in 2008, sophisticated models fell into the hands of people who didn’t understand their purpose, and didn’t care. It was a catastrophic misuse of science.The solution, however, is not to give up on models; it's to make them better. Weatherall reveals the people and ideas on the cusp of a new era in finance. We see a geophysicist use a model designed for earthquakes to predict a massive stock market crash. We discover a physicist-run hedge fund that earned 2,478.6% over the course of the 1990s. And we see how an obscure idea from quantum theory might soon be used to create a far more accurate Consumer Price Index.Both persuasive and accessible, The Physics of Wall Street is riveting history that will change how we think about our economic future.

Click: The Magic of Instant Connections


Ori Brafman - 2010
    You meet someone new—at a party or at work—and you just hit it off. There is an instant sense of camaraderie. In a word, you “click.” From the bestselling authors of Sway, Click is a fascinating psychological investigation of the forces behind what makes us click with certain people, or become fully immersed in whatever activity or situation we’re involved in.    From two co-workers who fall head over heels for each other while out to dinner and are married a month later (and fifteen years later remain just as in love), to a team of scientists who changed the world with the magic of their invention, these kinds of peak experiences, when our senses are completely focused on the moment, are something that individuals—and companies—strive to achieve. After all, when you’re in the “zone,” you’re happier and more productive. Why is it that we click in certain situations and with certain people, but not with others? Can this kind of magical connection be consciously encouraged?  Is there a way to create such peak experiences, whether on a date or in your job?   According to Ori and Rom Brafman, there is.  In a powerful, story-driven narrative that weaves together cutting-edge research in psychology and sociology, the Brafmans explore what it means to “click”: the common factors present when our brain and senses are fully engaged. They identify five “accelerators” that increase the likelihood of these kinds of magic connections in our work and relationships.  From actors vying for a role on a popular TV series to police officers negotiating with hostage takers, we learn how one can foster an environment where we can click with another person and shape our thinking, behavior, and emotions.  A fascinating journey into how we engage with the world around us, Click will transform our thinking about those moments when we are in the zone and everything seems to fall into place. Acclaim for Sway:“A provocative new book about the psychological forces that lead us to disregard facts or logic and behave in surprisingly irrational ways.” –New York Times “A unique and compulsively readable look at unseen behavioral trends.” –Fortune"A breathtaking book that will challenge your every thought, Sway hovers above the intersection of Blink and Freakonomics."--Tom Rath, coauthor of the New York Times #1 bestseller How Full Is Your Bucket?“[An] engaging journey through the workings—and failings—of the mind…Their stories of senselessness…are as fascinating as the lessons we learn from them.” –Fast Company"Count me swayed--but in this instance by the pull of entirely rational forces. Ori and Rom Brafman have done a terrific job of illuminating deep-seated tendencies that skew our behavior in ways that can range from silly to deadly. We'd be fools not to learn what they have to teach us."--Robert B. Cialdini, author of New York Times bestseller Influence"If you think you know how you think, you'd better think again! Take this insightful, delightful trip to the sweet spot where economics, psychology, and sociology converge, and you'll discover how our all-too-human minds actually work."--Alan M. Webber, founding editor of Fast Company

The Riches of This Land: The Untold, True Story of America's Middle Class


Jim Tankersley - 2020
    In The Riches of This Land, Tankersley fuses the story of forgotten Americans-- struggling women and men who he met on his journey into the travails of the middle class-- with important new economic and political research, providing fresh understanding how to create a more widespread prosperity. He begins by unraveling the real mystery of the American economy since the 1970s - not where did the jobs go, but why haven't new and better ones been created to replace them.His analysis begins with the revelation that women and minorities played a far more crucial role in building the post-war middle class than today's politicians typically acknowledge, and policies that have done nothing to address the structural shifts of the American economy have enabled a privileged few to capture nearly all the benefits of America's growing prosperity. Meanwhile, the "angry white men of Ohio" have been sold by Trump and his ilk a theory of the economy that is dangerously backward, one that pits them against immigrants, minorities, and women who should be their allies.At the culmination of his journey, Tankersley lays out specific policy prescriptions and social undertakings that can begin moving the needle in the effort to make new and better jobs appear. By fostering an economy that opens new pathways for all workers to reach their full potential -- men and women, immigrant or native-born, regardless of race -- America can once again restore the upward flow of talent that can power growth and prosperity.