The World's Best Book Summaries
Why is traditional economics outdated? Why are behavioral economics important in everyday life? In Misbehaving, Richard H. Thaler says that the theories of traditional economics rest on a faulty foundation. Traditional economics assumes that consumers act rationally and that financial markets reflect securities’ true values. Read below for a brief overview of Misbehaving.
How did India come under British governance? What role did the East India Company play? When and how did the Indian people cast off colonial rule? In The Anarchy, historian William Dalrymple explains the expansion and consolidation of British power in India. He does this by tracing the ascent of the East India Company from a modest group of merchants to the imperialist superpower. Keep reading to learn the background of British colonial rule in India.
What does the future of fusion energy look like? What are the main benefits and challenges associated with it? Fusion energy, once seen as wishful thinking, is gaining renewed attention due to recent advancements, potentially offering an abundant, eco-friendly power source. Private companies are pouring billions into fusion startups racing to make commercial reactors a reality within a decade. Continue reading to learn what fusion energy is and how it might be used in the future.
What toll are the Federal Reserve interest rate hikes having on Americans and businesses? What are the consequences if rates continue to rise? Aggressive Federal Reserve interest rate hikes have driven borrowing costs to painful heights, jeopardizing US household and business finances. Americans are struggling with soaring mortgage, credit card, and auto loan rates, accumulating record-high credit card debt. Here’s a look at the impact the rise in interest rates is having on Americans.
Why did the hedge fund LTCM fail so horribly? What can you learn from LTCM’s failure? In When Genius Failed, Roger Lowenstein explores the spectacular rise and catastrophic 1998 collapse of the hedge fund Long-Term Capital Management (LTCM). He explores the history of LTCM, how its models operated, and how its success turned into a failure. Read below for a brief overview of When Genius Failed.
How many Americans live in poverty? Why would a prosperous nation have impoverished people? Poverty, by America by Matthew Desmond contends that the United States has a big problem. Despite the country’s vast wealth and prosperity, it suffers from a level of poverty and inequality unseen anywhere else in the developed world. Continue reading for an overview of this new book.
Does Poverty, by America offer an accurate view of poverty in the US? What criticism has it received? There’s a growing canon of recent social science works exploring the phenomenon of poverty in America. One of these books is Matthew Desmond’s Poverty, by America. Upon its release, critics hailed it as an important and timely contribution to the conversation. Read more to see several top Poverty, by America reviews as well as some general information about the book.
How did John Meriwether get his start with the investment firm Salomon Brothers? What role did Meriwether play in forming LTCM? In When Genius Failed, Roger Lowenstein writes that hedge fund manager and arbitrage expert John Meriwether was pivotal in the conception and formation of LTCM. He formed the arbitrage group at the investment firm Salomon Brothers, where he had previously worked. Let’s look at the rise of John Meriwether, Salomon Brothers’ hand in LTCM’s creation, and how they set the stage for LTCM’s rise and fall.
What does it feel like to be poor? What aspects of poverty can’t be quantified? It’s easy to regard poverty as a black-and-white, by-the-numbers matter. But, according to Matthew Desmond, poverty is far more than that. It’s a tangible experience he knows firsthand, and he argues that it’s important for policymakers (and everyone else) to look beyond the numbers. Keep reading to understand the lived experience—and the consequences—of poverty from Desmond’s perspective.
What’s arbitrage? How did John Meriwether’s arbitrage strategy earn Salomon Brothers a profit? Arbitrage is where investors exploit small differences in price for similar assets in two or more markets. When John Meriwether learned this technique, he used it to his advantage, earning more money than ever. Continue reading to learn more about how arbitrage works in the stock market.