Money Archives

Best Books About Money, Wealth, & Personal Finance

Are you looking for the absolute best books about money? Do you want to increase your financial literacy and potentially start investing? With so much financial material out there, it can be difficult to pick out the authoritative resources written by authors who don’t just preach theory but also offer actionable strategies to help you get to grips with your finances, understand basic investment principles, and start building wealth. That’s why we’ve rounded up the following list of the absolute best books about money—written by financial educators with decades of experience, featured on well-known bestsellers’ lists, and positively rated by thousands

The Failures of the Top-Down Aid Model

Why are the problems with the top-down aid model? Why is the humanitarian aid system flawed? In his book The White Man’s Burden, William Easterly posits that the top-down aid model is disconnected from its recipients and is a recipe for under-delivering. However, there are cases to be made for both sides of the argument. Continue reading to learn more about the flaws in the global aid system.

How Neflix’s Expense (Non)Policy Works

How can a company as big as Netflix have such a lenient expense policy? How can Netflix enforce such subjective rules? Netflix’s expense policy basically states that all employees must “act in the company’s best interest” when it comes to travel expenses such as flights, hotels, and dinners. The problem is that each person may have a different idea of what is acceptable and what is extravagant. Here’s how Netflix ironed out the kinks in their expense policy.

The Failure of Structural Adjustment Loans

What are structural adjustment loans? Why does economist William Easterly think they are a huge failure? Structural adjustment loans are economic reforms that aim to transition a country to a free-market economy—but they come with many catches. In the end, these loans usually end up putting a struggling country into more debt. Keep reading to learn why structural adjustment loans are not the answer to economic reform.

Is Social Security Running Out of Money? No!

Is Social Security running out of money? Why does modern monetary theory say the entitlement program crisis is a lie? Modern monetary theory (MMT) says that social entitlement programs such as Social Security and Medicaid will always be safe. This theory goes against the common belief that, due to the number of Baby Boomers, the social entitlement programs will run out of money and future generations will need to find alternative forms of aid. Keep reading for economist and MMT believer Stephanie Kelton’s take on the entitlement crisis.

Problems With the Federal Reserve (According to MMT)

How does the federal reserve set monetary policy? Why does economist Stephanie Kelton believe that the Fed is causing needless suffering in the United States? In her book The Deficit Myth, Kelton (a believer in modern monetary theory) thinks that the federal reserve is too conservative and overreacts when it comes to the fear of inflation. Kelton and other MMT proponents believe in using a combination of deficit spending and low interest rates to boost demand and create full employment instead. Below, we will discuss the problems with the Federal Reserve, according to Stephanie Kelton.

Contrasting Religious Views on Poverty

What are the various religious views on poverty? How do they perceive wealth? In the Christian classic The Cost of Discipleship, Dietrich Bonhoeffer argues that Christians should build wealth in heaven, not on earth. He asserts that earthly belongings contribute to worry, as we have more to lose. However, some religions—even other Christian traditions—disagree with him. Continue reading to learn about various religious views on poverty.

Is a Trade Deficit Good or Bad? An Economist Answers

Is a trade deficit a good or bad thing? Could there possibly be benefits to having a trade deficit? According to Stephanie Kelton, an economist and believer in modern monetary theory, the United States trade deficit is actually a strength rather than a weakness. She believes that the trade deficit puts the United States in a position of power because other countries rely on its currency. Here’s a more in-depth look at the U.S. trade deficit from The Deficit Myth.

Monetary Sovereignty Means No National Debt

What is a monetary sovereign? Why does Stephanie Kelton, the author of The Deficit Myth, believe monetary sovereigns can print unlimited amounts of money? A monetary sovereign is a country that is the sole issuer of its own currency, and its currency isn’t tied to a finite object or another country’s currency. Believers of modern monetary theory such as Kelton argue this means they can never be in debt because they can always print more money. Continue reading to learn more about monetary sovereignty and for criticism of their arguments.

Modern Monetary Theory (MMT)— Explained

Are you looking for an explanation of modern monetary theory? What criteria must a nation satisfy to be considered a monetary sovereign? The short version of modern monetary theory is that there are some nations (like the United States) that are unconstrained in their power to spend money because their currencies satisfy certain criteria. MMT is controversial and is criticized by economists. Continue below if you want to learn more about modern monetary theory, explained with analysis.