The World's Best Book Summaries
What’s the problem with fiat currency? What are the dangers of over-printing fiat money? One danger of fiat money is that it gives the government too much control of the nation’s resources. The government can just print more money whenever they want, which devalues the national currency. Dr. Saifedean Ammous explains the social problems with fiat currency.
How trustless is bitcoin, really? How are trustless transactions executed on the bitcoin network? The bitcoin network is designed in such a way that it makes it possible to complete financial transactions without the need for trust. The payee can’t default on the payment because the transaction is verified by the whole network—a large number of independently-operated servers all over the world. Here’s how bitcoin makes trustless transactions possible.
Why are tech companies laying off employees? Which tech companies are having layoffs? How do economists explain this issue? November alone has seen tens of thousands of tech company layoffs, many from large companies like Meta, Twitter, and Amazon. Experts believe that these layoffs are being driven, in large part, by the end of the Covid-19 pandemic and economic uncertainty in the near future. Read on to learn why economists say tech company layoffs aren’t a major concern for the future.
What is ESG investing? Is ESG investing good? What are the pros and cons? Republicans have pledged to pass legislation limiting or even prohibiting corporations from investing in ESG (environmental, social, and governmental) initiatives. However, ESG supporters argue that there are solid economic reasons to support such initiatives. Read on to learn if ESG investing is a good choice by learning the pros and cons of ESG initiatives.
Does bitcoin have a future? Will bitcoin become the new monetary standard? According to economist Saifedean Ammous, bitcoin is here to stay, but it may never become the new monetary standard. In his book The Bitcoin Standard, he cites two major reasons bitcoin can’t replace fiat money completely. Keep reading to learn about the limitations of bitcoin.
What are the biggest global supply chain issues right now? What factors will continue to affect the supply chain in the long term? The current global supply chain disruptions were sparked by the pandemic response and compounded by surging demand, transportation snarls, and the war in Ukraine. Experts were pessimistic mid-year but are now predicting a return to normality in early 2023. Read on to learn why we may still face long-term global supply chain issues, despite predicted improvements.
How will the Inflation Reduction Act affect electric vehicles (EVs)? Which EVs are eligible for the tax credit? With a $7,500 tax credit for the purchase of an electric vehicle, the Inflation Reduction Act aims to encourage more people to buy EVs, especially those made with U.S. resources. However, the bill creates difficulties for Asian and European car manufacturers for whom the U.S. market is essential. Keep reading to learn more about what the Inflation Reduction Act means for electric vehicles.
What difference does geography make to history? What impact did the East have on the West in the ancient world? The Silk Roads began in the ancient world, so it’s here that historian Peter Frankopan begins his examination of the history of the connection between East and West. He provides an overview of the Persian, Greek, and Roman empires, particularly in regard to Asia. Keep reading for Frankopan’s history of the ancient world.
What are the predictions for the next recession? How bad will the recession be? How can you prepare? Concerns about recession in the U.S. economy are rising. The majority of economists predict that the economy will go into recession in the near future due to the combination of persistent inflation and rising interest rates. Read on to learn the likelihood of the next recession, based on predictions from President Biden, analysts, and economists.
How did the global balance of power shift in the 20th century? How did these balances shape wars, and how did wars shape them? In The Silk Roads, historian Peter Frankopan identifies Central and Western Asia as the battleground where the great empires of history rose and fell. He argues that understanding the East is crucial to our understanding of the world—particularly for Westerners who have lost this global perspective. Keep reading for Frankopan’s discussion of the global balance of power in the 20th century.