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The Ascent of Money: A Financial History of the World

Childrens Toy Shop > Books > Economics
by: Niall Ferguson

October 30, 2008
Niall Ferguson again here brings us a history that is informative, entertaining and sobering. Being published in the midst of a global economic meltdown, for a book such as this, is a mixed blessing, as a step too far on the bearish side may make the author look like a doommonger, whilst being even slightly bullish might look blinkered. Ferguson, though, seems to manage to pull it off, though that equally is a spot evaluation. However, though it's clear where his loyalties lie in the pro/anti capitalism debate, the balance of the narrative tends nevertheless towards the various shocks delivered to the system rather than towards the prosperity delivered, albeit still strictly speaking to a relative minority of humanity, by markets and their lubricant, ... Read More:

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The Snowball: Warren Buffett and the Business of Life

Childrens Toy Shop > Books > Economics
by: Alice Schroeder

September 29, 2008

I recently re-read Roger Lowenstein's biography, Buffett: The Making of an American Capitalist (first published in 1995 and now re-issued with a new Afterword), and then read this more recent one by Alice Schroeder. Both are first-rate. Which to select if reading only one? That depends on how much you wish to know about Buffett's personal life, including his relations with various family members, and how curious you are about his personal hang-ups, peculiarities, eccentricities, fetishes, etc. If you can do without any of that, Roger Lowenstein's biography is the one to read. I also highly recommend the recently published Second Edition of The Essays of Warren Buffet: Lessons for Corporate America, with content selected, arranged, and introduced ... Read More:

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The Black Swan: The Impact of the Highly Improbable

Childrens Toy Shop > Books > Economics
by: Nassim Nicholas Taleb

February 28, 2008
Not good: will I finish it? Won't I? Guess I'll have to if I want to assess fairly, but it'll be hard work. Arrogance seeps through every word and, at the end of the day, he's repeatedly hammering home one point that anyone with a degree of critical thinking will be aware of anyway.

No, I'm not going to bother finishing. Won't put myself through it and I'd recommend that you don't bother either.

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The Great Crash, 1929 (Penguin business)

Childrens Toy Shop > Books > Economics
by: John Kenneth Galbraith

October 29, 1992
This is a surprisingly good reference on the 1929 crash. The book is very readable considering the subject matter. For me the run up to the crash got a bit too much detail whereas the details of aftermath and solutions got less attention than I would have liked. He also focuses on trivia about suicide rates which is quite entertaining but doesn't seem to the point (which for me is to understand and avoid these kind of wild crashes).

We seem to have duplicated the conditions of this crash almost exactly in 2008 and indulged in the same property and derivative based speculation. It's also interesting that JK Galbraith goes against current (neo-liberal) orthodoxy e.g. the rich having too much money is destabilising rather than it being a benefit as 'trickle ... Read More:

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Who Runs Britain?: and Who's to Blame for the Economic Mess We're in

Childrens Toy Shop > Books > Economics
by: Robert Peston

October 30, 2008
I got the impression that Peston was urged to put out a book quickly, so he used a lot of his old archive material (Green, M and S etc). But it's worth it as there are some good chapters on hedge funds, and a reminder that our banks were actually borrowing to buy all that toxic waste, which somehow drove home the stupidity of it all.
Not as good as his scoops!

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Freakonomics: A Rogue Economist Explores the Hidden Side of Everything

Childrens Toy Shop > Books > Economics
by: Steven D. Levitt, Stephen J. Dubner

June 18, 2007
This book first arrived in a blizzard of publicity back in 2005. Now 4 years on, it has been re-released in a revised and expanded edition with an extra 90 pages of bonus material (be sure to order the 336-page edition) consisting of newspaper columns and blog entries, along with a few corrections and an overall restructuring (the previous introductory magazine excerpts to each chapter have now been consolidated into a single article and moved to the back of the book).

I found Freakonomics to be an engaging and entertaining read, albeit a fairly light one. It doesn't set out to teach or champion any particular theory or methodology; it simply takes a handful of diverse real life scenarios - parenting, the Ku Klux Klan, crack dealers, cheating school teachers, Sumo ... Read More:

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The Shock Doctrine: The Rise of Disaster Capitalism

Childrens Toy Shop > Books > Economics
by: Naomi Klein

May 01, 2008
Readable, passionate, but... if true, the latest financial crash would have seen another swift extension of market power. But does govt control or ownership of the banks, talk of aggressive new regulation or the 'end of capitalism' sound like capitalism making hay? Are we really seeing a retreat from govt or state activity in the face of recession?

On the contrary, this latest shock is widely described as a disaster for capitalism. The doctrine fails its first test. The former chairman of the Federal reserve - Alan Greenspan - talks about this shock as though it has fundamentally undermined the theoretical constructs of capitalism by showing the weakness of self interest. When the priests are becoming apostates, how can the shock be said to further their former creed? ... Read More:

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When Markets Collide: Investment Strategies for the Age of Global Economic Change

Childrens Toy Shop > Books > Economics
by: Mohamed El-Erian

July 01, 2008
I'm not a professional finance wizzard but I am a well educated citizen of the world with a keen interest in the sector. I enjoy the lighter publications (war stories about the Brothers, Barbarians etc..) on the city/street but also the more analytical stuff.

This book has no message, no content and looses the reader after 2 pages. Don't buy it ! It is not good and does not deserve an award.

I invested time in trying to change my opinion. It is impossible.

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The Return of Depression Economics and the Crisis of 2008

Childrens Toy Shop > Books > Economics
by: Paul Krugman

December 04, 2008
Economic scholar Paul R. Krugman investigates the forces that drive economic growth and recession, and makes sense of several complicated issues. His ability to maintain the essence of a topic while simplifying complex economics with examples and analogies is a hallmark of his work. Despite the gloomy title, the book is not depressing because, Krugman concludes, another Great Depression is not looming in our future. Capitalism has, overall, provided the foundation for prosperity in advanced and developing economies alike. Indeed, the information age has introduced entrepreneurs who have generated wealth while becoming romantic heroes for succeeding in spite of giant corporations. However, Krugman stays alert for dark forces, warning us against panic attacks in the international financial markets, where ... Read More:

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Brilliant Project Management: What the Best Project Managers Know, Say and Do

Childrens Toy Shop > Books > Economics
by: Stephen Barker, Rob Cole

March 01, 2007
This book is really clear in showing the practicalities of project management. I like the way its structured into chapters like: planning, risk & issue mgmt, quality, leading effective teams etc ... and I must say that I like he inclusion of the "It shouldn't happen to a project manager (but it did)" boxes, it just makes you realise you are reading about 'real life scenarios' and sometimes puts your own woes into perspective. One of those books you can refer to time and time and lend out to your friends in the PM world. Handy to read on the train!