The World's Best Book Summaries
What is material poverty? Why is material poverty so hard to overcome? In When Helping Hurts, Steve Corbett and Brian Fikkert assert that people get trapped in material poverty because they develop a negative worldview that leads to bad decisions. Broken systems also don’t help them escape this cycle. Keep reading to learn why this type of poverty attracts the most vulnerable people.
What are the main causes of poverty? How do your relationships affect your financial mindset? Despite poverty’s complexity, Steve Corbett and Brian Fikkert (the authors of When Helping Hurts) argue that we can trace all of its components back to one source. This source is a breakdown of a person’s relationships with God, self, others, and the rest of creation. Let’s look at how these four relationships can cause poverty, according to Corbett and Fikkert.
What’s globalization? Is it good or bad? What can we do to benefit from it? The World Is Flat by Thomas Friedman examines the causes, effects, and potential future of a globalized world. He argues that globalization is ultimately a good thing, and he offers recommendations on how governments and individuals can thrive even amid globalization’s challenges. Continue reading for an overview of this thought-provoking book.
What are NFTs and how do they work? What makes NFTs so valuable? How can a piece of art that can be screenshotted and viewed online for free now sell for millions? And, finally, are NFTs here to stay, or are they just another bubble waiting to burst? If you are interested in learning about NFTs (non-fungible tokens), but struggle to get your head around what NFTs are and how they work, take comfort in the fact that you are not alone. Many people are baffled by the NFTs and their insane valuations, some breaking hundreds of millions of dollars.
What is the status of—and the outlook for—the global distribution of wealth? Are the rich getting richer and the poor getting poorer? Steven Pinker wants to set the record straight on wealth and inequality in the world. He presents compelling data regarding inequality, poverty, and social spending that might come as a surprise to many. Continue reading to learn Pinker’s argument and for a brief discussion of the prospect of a Universal Basic Income.
Have you always wanted to invest in the stock market but felt too uninformed or inexperienced to do so? Do you really need financial expertise to be a successful investor? According to Peter Lynch, investing is not as complicated as it is made out to be. Everyone not only has all the tools they need to become a savvy investor, but they actually have a better chance of investing successfully than professionals and firms. Here’s why you have a better chance of success investing independently.
Are you an independent investor? What are some things you can do to increase your investment earnings? According to former mutual fund manager Peter Lynch, you have a better chance of success investing independently than through professionals and firms. If you choose to invest independently, however, you must be aware of certain key rules. Here are six stock market rules for independent investors.
What are extractive political institutions? How do they come into power? What makes a nation extractive? According to the book Why Nations Fail, political institutions determine how a nation creates the rules that citizens live under. Whether a country adopts extractive or inclusive institutions also determines who wields power in society and how they wield it. Read on to learn how and why extractive political institutions are created, according to Why Nations Fail.
What makes a country successful? What do successful countries do differently than failing nations? In the book Why Nations Fail, economist Daron Acemoglu and political scientist James A. Robinson explain why some nations have wealth and high standards of living while others struggle with poverty and instability. They argue that freedom and fairness in a nation’s economy and government are the answer. Keep reading to learn the two reasons why successful countries thrive, according to Acemoglu and Robinson.
What causes inequality in the world? Why are some countries prosperous while others struggle to survive? In Why Nations Fail, economist Daron Acemoglu and political scientist James A. Robinson argue that current theories on national failure are flawed. They further explain that successful nations have political and economic institutions that are “open” while failing nations have “exclusive” institutions. Read on to learn what really causes inequality and why the top theories are flawed, according to Acemoglu and Robinson.