The World's Best Book Summaries
Why does everyone fight over oil? How does this struggle affect the balance of power in the world? In ancient times, Persia was prized by the great powers of the world for its wealth and location. In modern times, the area is prized for its oil. The discovery of this commodity altered the world’s political landscape forever. Continue reading for a historical overview of oil and politics.
How far did the Russian Empire extend? How was it a threat to the British Empire? Did this clash lead to World War I? The rise of the Russian Empire began in the early 1800s, and its eventual expansion posed a threat to the interests of the British Empire. The clash between these two powers impacted the world for years to come. Keep reading to learn about the Russian Empire vs. the British Empire.
What were the origins of the Black Death? What impact did the plague have on society? Are there similarities to the Covid-19 pandemic? In The Silk Roads, historian Peter Frankopan discusses the Black Death in the context of East-West dynamics. He notes how it changed the world economy and the balance of power. Some commentators compare that shift to today’s Great Resignation. Keep reading to understand the impact of the Black Death and how it compares to what we’re seeing with Covid-19.
Why did Spain and Portugal decline in power? How did England take their place as the economic center of Europe? As the Middle Ages gave way to the early modern period, Europe began to enjoy global economic dominance. One power, in particular, emerged in the 17th and 18th centuries: England. Historian Peter Frankopan explains how this small nation became so powerful. Read more to learn about the rise of the British Empire.
If we were to abolish the Federal Reserve, how should we go about it? What are some alternatives to the Fed? Edward Griffin believes the Fed destabilizes the economy and encourages banks to engage in fraudulent practices that harm the public and benefit the elite. In his book, The Creature from Jekyll Island, he identifies four major problems with the Fed and insists that it should be abolished. Read more to learn Griffin’s proposed two-step strategy to abolish the Federal Reserve.
Why is the Federal Reserve bad for the economy? In what ways is it harmful and even unethical? Even if you don’t believe there’s a sinister conspiracy behind the Fed, you might be interested to know that there are plenty of other reasons why it should be abolished. That’s the assertion of Edward Griffin, who calls out four major problems with the system. Continue reading to learn about these four ways the Fed does more harm than good.
How are the housing market and economy connected? What happens if the housing market crashes? Will there be another recession? As home prices drop and rumors of recession haunt headlines, concerns are mounting that we might be headed for a repeat of the Great Recession of 2007-2009. According to Naked Economics, modern markets are all interconnected, so the failure of one part of the economy can cause a domino effect. Read on to learn what the future holds for the U.S. housing market and the larger economy.
How does the Federal Reserve affect the economy? Does it help or harm? Helping to stabilize the economy is allegedly a key part of the Fed’s mission, but Edward Griffin argues that, in fact, it tends to destabilize the economy. It does this in two ways: amplifying normal business cycles and protecting banks from bad investments. Continue reading to learn about the Fed’s negative impacts on the economy.
Is the Federal Reserve responsible for inflation? Is inflation essentially a tax? Milton Friedman once said that inflation is taxation without legislation. Edward Griffin agrees. He asserts that the Federal Reserve is responsible for inflation, and he’s concerned that inflation constitutes an unfair, hidden tax whereby the American people pay for the government’s expenditures without realizing it. Read more to understand Griffin’s argument.
What’s fractional reserve lending? Is it ethical? Edward Griffin asserts that the Federal Reserve facilitates and legalizes fraud by allowing banks to engage in fractional reserve lending. He explains what the practice is and argues that it’s not ethical. Read more to understand this prolific banking practice.