Winning the long game : how strategic leaders shape the future

by Stephen Krupp    (Get the Book)
Krupp and Schoemaker, CEO and founder of the consulting firm Decision Strategies International, respectively, have assembled a cogent, inspiring guide to what constitutes a strategic leader-and how readers can be strategic in their own lives. The narrative centers on a hypothetical employee, Jane, who suffers through an all-too-familiar performance review, as she is encouraged to "be more strategic" with no guidance as to what that means or how she should accomplish it. Having established the problem of vague, ambiguous guidance, the authors come to the rescue with a clear, executable breakdown of the disciplines of leadership. These include anticipating change through understanding your market, challenging assumptions, interpreting data, making tough decisions, aligning the interests and incentives of stakeholders, and learning from both success and failure. Krupp and Schoemaker provide plenty of case studies, from Elon Musk to Pope Francis. Most valuably, this highly readable book focuses on the nuts and bolts of each discipline, guiding readers on how to import the lessons learned into their own lives. --Publisher's Weekly

Flex : the new playbook for managing across differences

by Jane Hyun     (Get the Book)
Coauthor Hyun (Breaking the Bamboo Ceiling) provide the modern manager with a playbook on how to switch among leadership styles to get the most out of -employees. Based on the premise that today's workplace suffers from a "power gap" between the frontline manager and employees who are increasingly multicultural, inter-generational, and female, the authors' notion of "flexing" introduces the idea of a fluent leader who can bridge differences. Using examples from across disciplines, Hyun and Lee offer ways to encourage participation and innovation from employees who do not always work within the Western model of corporate -culture. The book's three parts provide the rationale for their leadership model, practical methods for bridging personal and cultural -divides, and ways to build fluency and flexibility within an organization. The premise -behind the work is timely and important, but -readers may find some of the examples filled with stereotypes rather than realistic people. -VERDICT Hyun and Lee offer important methods for switching among proven leadership styles; their work will find an audience with Americans who need to -manage a diverse workforce. --Library Journal

The emergent agriculture : farming, sustainability and the return of the local economy

by Gary Kleppel    (Get the Book)
Long embraced by corporations who are driven only by the desire for profit, industrial agriculture wastes precious resources and spews millions of tons of greenhouse gases into the atmosphere each year, exacerbating climate change and threatening the very earth and water on which we depend. However, this dominant system, from which Americans obtain most of their food, is being supplanted by a new paradigm. The Emergent Agriculture is a collection of fourteen thematic essays on sustainability viewed through the lens of farming. Arguing that industrial food production is incompatible with the realities of nature, science and ethics, this lyrical narrative makes the case for a locally based food system which is: Stable in the face of economic uncertainty Resilient in the face of environmental variability Grounded in stewardship of the land, on attaching value to food and the craft involved in producing it, and on respecting the dignity of farmers, consumers and livestock. A revolution in food production is underway. Written from the vantage point of an ecologist who is also a farmer, The Emergent Agriculture is essential reading for anyone interested in food security and the potential for growing local economies. Food for thought about the future of food. (Summary)

Hooked : how to build habit-forming products

by Nir Eyal    (Get the Book)
Successful product developers don't quit once they've got a prototype in hand, says startup founder and tech journalist Eyal. In fact, he thinks that the most important, and the trickiest, part of the process is figuring out how to make your product indispensable to users. While getting his M.B.A., he became fascinated with the question of how successful tech companies managed to accomplish this goal. Eyal's answer? Don't rely on pricey marketing; link your service to your customers' emotions and daily lives. The two most important factors in getting them "hooked" on a product are the frequency with which they use it and its perceived utility. Eyal aims to simplify this task through the "Hook Model," consisting of internal and external triggers, action, variable reward, and investment. He names companies that have done it right, from household names like Snapchat and Pinterest to lesser-known examples like the Bible App. Eyal's ideas are good, but his real impact comes from his relentless enthusiasm. Also worthwhile is his caution about maintaining ethical practices even while getting customers "hooked." With concrete advice and tales from the product-development trenches, this is a thoughtful discussion of how to create something that users never knew they couldn't live without. --Publisher's Weekly

Indispensable and other myths : why the CEO pay experiment failed and how to fix it

by Michael Dorff    (Get the Book)
Prodded by economists in the 1970s, corporate directors began adding stock options and bonuses to the already-generous salaries of CEOs with hopes of boosting their companies' fortunes. Guided by largely unproven assumptions, this trend continues today. So what are companies getting in return for all the extra money? Not much, according to the empirical data. In Indispensable and Other Myths: Why the CEO Pay Experiment Failed and How to Fix It, Michael Dorff explores the consequences of this development. He shows how performance pay has not demonstrably improved corporate performance and offers studies showing that performance pay cannot improve performance on the kind of tasks companies ask of their CEOs. Moreover, CEOs of large established companies do not typically have much impact on their companies' results. In this eye-opening exposé, Dorff argues that companies should give up on the decades-long experiment to mold compensation into a corporate governance tool and maps out a rationale for returning to the era of guaranteed salaries. Michael Dorff has taught at UCLA School of Law, Rutgers Law School, and the Peter F. Drucker and Masatoshi Ito Graduate School of Management. He is currently Professor of Law at Southwestern Law School, where he teaches corporate law and other business law topics. (Publisher) 

Project management

by G. Michael Campbell    (Get the Book)
Successfully manage any project with this simple step-by-step guideGet all your projects in on time and on budget withnbsp;Idiot's Guides: Project Management, a clear, accessible handbook to project management.Successfully manage projects with the updatednbsp;Idiot's Guides: Project Managementnbsp;which includes the latest project management methodologies. G. Michael Campbell, PMP, a certified management professional explains how to project manage and shares the latest theories, procedures, and software programs available. You can prepare for the PMI's PMP exam or just brush up on your management skills with the updated PMP questions and information from the most recent PMBOK (Project Management Body of Knowledge).Idiot's Guides: Project Managementnbsp;(previous ISBN 9781615640874) is invaluable for all your projects, developing your management skills and organisational skills and helping you to succeed. (Publisher)

The wealthy barber : everyoneʾs commonsense guide to becoming financially independent

by David Chilton    (Get the Book)
" . . . quite simply the best financial self-help book." --Money Book Club, Book-of-the-Month Club In this new and updated edition of one of the biggest-selling financial-planning books ever, David Chilton simplifies the complex puzzles of personal finance and helps you achieve financial independence. With the help of his fictional barber, Roy, and a large dose of humor, Chilton shows you how to take control of your financial future--slowly, steadily, and with sure success. Chilton's plan (detailed in an entertaining story) is no get-rich-quick scheme, but it does make financial independence possible on nothing more than an average salary. This third edition has been updated with assistance from the Arthur Andersen Corporation, and covers the Taxpayer Relief Act of 1997 and other recent developments. Even if you consider yourself a financial "basket case," Chilton explains how you can easily put an effective financial plan into action.  (Publisher)

The end of normal : the great crisis and the future of growth

by James K. Galbraith    (Get the Book)
Since the 2008 financial debacle, University of Texas economist Galbraith - yes, he is Kenneth's son, and, yes, he is a stand-out economist in his own right - has made something of a splash. Galbraith criticizes efforts to revitalize banks and at all costs get back to "normal" growth. He explains convincingly why 2008 was a "turning point"- the end of normal - and gives an extended, articulate account of flush postwar economic growth, locating its end in the 1970s. He reviews the millennial derivatives orgy and the banking system's response. Drawing a dark portrait of high unemployment and unsustainable debt, and predicting an increasingly unstable Europe, Galbraith makes it clear he is no friend of "austerity" or capitalism's status quo. Bankers' orthodoxies about debt and credit go forward based on what Galbraith sees as postwar anomalies and false assumptions. In the portrait he draws, credit excesses in the 2010s are deep and worldwide, while energy, global leadership, and technology are wild cards. Systemic collapse, if and when it comes, he warns, will not be a pretty sight. His Cassandra-style conclusions are scattered and confrontational; his fixes are few. But Galbraith puts his pessimism into an engaging, plausible frame. His contentions deserve the attention of all economists and serious financial minds across the political spectrum. --Publishers Weekly

Good leaders ask great questions : your foundation for successful leadership

by John C. Maxwell    (Get the Book)
Leadership expert and life coach Maxwell (Developing the Leader Within You; 15 Invaluable Laws of Growth) explains the importance of asking questions to develop better ideas, engage others in conversation, and strengthen teamwork. He encourages readers who want to be successful to "embrace asking questions as a lifestyle" and instructs them to call for insightful and probing questions. Part 1, "Questions I Ask," discusses what questions leaders need to ask themselves and what to request of team members. Part 2, "Questions Leaders Ask Me," consists of Maxwell's answers to inquiries directed at him, solicited via social media and his blog. Topics include leadership potential, personal motivation, conflict resolution, and working with difficult bosses. The author concludes by reminding us that quality leaders ask great questions, adding, "They might not always know the answers, but they are made better simply by asking them." VERDICT An intriguing look at leadership with practical advice makes this book beneficial to students of business management and practitioners and to just about anyone who wants to develop and improve their skills. --Library Journal

How to speak money : what the money people say : and what it really means

by John Lanchester    (Get the Book)
Lanchester reports that there is a huge gap between people who understand money and economics and those who don't, suggesting this didn't matter until the financial debacle of 2008, when so many people got hurt. We learn the language of money can be used to hide the facts and mislead. The author wants us to recognize the economic forces behind the surface realities of life and gives readers tools to listen or read about economic news, understand the issues, and form an opinion. He devotes the bulk of his book to explaining with understandable words hundreds of commonly used economic terms, such as inflation: When money loses value over time, prices gradually go up and this is normal in economic life; deflation: When money gains value over time, prices go down with near-fatal consequences for an economy; and risk, which economists use to describe the mathematical likelihood of a specific outcome. This excellent primer for understanding money would be a helpful resource for many library patrons. --Booklist

A more beautiful question : the power of inquiry to spark breakthrough ideas

by Warren Berger    (Get the Book)
Berger emphasizes the power of inquiry as he challenges us to see things with a fresh eye. He concentrates on game-changing questions, those that can result in actions that lead to real results. The author focuses on innovation and invention stories, explaining that in business, questions challenge authority and disrupt established structures, processes, and systems, forcing people to at least consider something different. Berger offers his framework for problem solving in three stages. The initial why stage involves seeing and understanding, which include noticing what others missed and challenging both our own and others' assumptions. The second, what-if, stage is about imagining that blue-sky moment of questioning when anything is possible; and the third, the how to action stage, is about doing. Asking the right questions will help us discover what matters, what opportunities exist, and how to find them. This thought-provoking book offers important insights to executives, and to those aspiring to leadership, for their business and personal use. --Booklist

Seven bad ideas : how mainstream economists have damaged America and the world

by Jeffrey G. Madrick        (Get the Book)
The very fact that so few economists saw the 2008 economic collapse coming indicates how out of touch they were (and are) with economic realities. Enamored with the idea that capitalism is self-correcting, they failed to heed ample warnings of severe imbalances and risky behavior caused by lack of regulation of the financial markets. Financial journalist Madrick draws on the works of several well-regarded economists, including John Maynard Keynes and Milton Friedman, as well as philosopher-economist John Stuart Mills and others to examine the shortcomings of contemporary economics. Madrick offers an overview of how economic thinking has evolved from Adam Smith's invisible hand concept, taking aim at seven major ideas that have driven economists in the past 30 years and led to enormous harm. He explores the contradictions in economic theories as economists square off over philosophical beliefs about the proper role of government in the economy, the relative merits of deficits, and government economic stimulus. Debunking many of the ideas of orthodox economics, he laments how little consideration economists give to social justice and human rights or even history. Madrick argues strongly that government support for the nation's infrastructure is as important to the economy as private capital investment. This is a highly accessible look at the dismal science and why it's important to understand the philosophy behind the science of economics. --Booklist

Smart calling : eliminate the fear, failure, and rejection from cold calling

by Art Sobczak    (Get the Book)
Proven techniques to master the art of the cold call Cold calling is not only one of the fastest and most profitable ways to initiate a new sales contact and build business; it's also one of the most dreaded-for the salesperson and the recipient. Smart Callin g has the solution: Art Sobczak's proven, never-experience-rejection-again system. Now in an updated 2nd Edition , it offers even smarter tips and techniques for prospecting new business while minimizing fear and rejection. While other books on cold calling dispense long-perpetuated myths such "prospecting is a numbers game," and salespeople need to "love rejection," this book will empower readers to take action, call prospects, and get a yes every time. Updated information reflects changes and advances in the information gathering that comprises the "smart" part of the calling Further enhances the value and credibility of the book by including more actual examples and success stories from readers and users of the first version Author Art Sobczak's monthly Prospecting and Selling Report newsletter (the longest-running publication of its type) reaches 15,000 readers, and Smart Calling continues to rank in the Top 20 in the Sales books category on amazon.com and has sold over 20,000 copies. (Publisher)

The Virgin way : everything I know about leadership

by Richard Branson    (Get the Book)
Branson is one of the most famous and iconic figures of today's business world, and his Virgin Group is a sprawling global empire consisting of about 400 operations, the most well known of which are in travel, entertainment, and telecommunications; Virgin Atlantic Airways, Virgin Records, and Virgin Mobile are among the most recognized. Branson famously dropped out of school, ironically, to run a student magazine. He started his record business from the crypt of a church and to this day doesn't keep a corporate office he does business from a hammock. A leadership book from a man known as a daredevil both inside and outside the business world may be expected to be different, and it is. Branson's freewheeling spirit comes across in his leadership style as that of a man who values listening more than talking, keeping things simple, and giving employees a second or even a third chance. His approach may seem casual, but his results speak for themselves, and he generously shares stories about the other guys, such as Apple, Google, and even Walmart. --Booklist

The innovator's method : bringing the lean startup into your organization

by Nathan R. Furr     (Get the Book)
Furr and Dyer (coauthor of The Innovator's DNA), both professors at Brigham Young University's Marriott School of Business, offer tips on getting a business to behave like a "lean start-up" by taking ideas to the market without going through the arduous and old-fashioned process of writing a business plan. The book lists the steps that smart start-ups (or established organizations looking to try something new) should follow: come up with an insight, understand the customer's problem, quickly develop "an awesome solution" to that problem, and create a business model, and finally generate revenue and scale your idea. The authors underscore that innovative companies understand the importance of transparency and are unafraid to seek input from outsiders. The strength of the book lies in its many examples and case studies, which range from two young Harvard Business School students founding a company for short-term rentals of high-end dresses to Budget Traveler magazine crowdsourcing editorial content from readers. Fuhr and Dyer present their ideas with clarity and enthusiasm, and include helpful diagrams and charts. Readers looking for a single volume on nimble innovation will find this guide indispensable. --Publishers Weekly

Common sense on mutual funds

by John C. Bogle    (Get the Book)
John C. Bogle shares his extensive insights on investing in mutual funds Since the first edition of Common Sense on Mutual Funds was published in 1999, much has changed, and no one is more aware of this than mutual fund pioneer John Bogle. Now, in this completely updated Second Edition, Bogle returns to take another critical look at the mutual fund industry and help investors navigate their way through the staggering array of investment alternatives that are available to them. Written in a straightforward and accessible style, this reliable resource examines the fundamentals of mutual fund investing in today's turbulent market environment and offers timeless advice in building an investment portfolio. Along the way, Bogle shows you how simplicity and common sense invariably trump costly complexity, and how a low cost, broadly diversified portfolio is virtually assured of outperforming the vast majority of Wall Street professionals over the long-term.   (Summary)

The Nature of value : how to invest in the adaptive economy

by Nick Gogerty   (Get the Book)
Hedge fund strategist Gogerty explains how investors, whom he terms allocators, can learn to discern economic value and allocate resources to activities that will enhance the overall human condition. The author uses biological metaphors as underpinnings in his discussions. Hence, his use of the term Inos as units of information expressed as organizational capabilities is analogous to biological genes. Similarly, in Gogerty's worldview, organizations equate to biological organisms and clusters are spaces where firms compete just as organisms vie for dominance in ecological niches. His method involves discovering firms that have built and maintained competitively advantaged economic moats that permit them to grow the value of their businesses over time despite economic perils such as inflation and deflation. While the author doesn't provide a list of such firms, he does include numerous instructive diagrams and examples of value investing. His heavy reliance on biological illustrations could muddy the waters for readers with only a slight natural science interest. VERDICT Students of business and serious investors will likely find Gogerty's ideas more useful than general readers. In any case, his arguments will stretch the reader's investment intellect. --Library Journal

13 things rich people won't tell you : 325+ tried and true secrets to building your fortune no matter what your salary

by Jennifer Merritt    (Get the Book)
Did you read about the janitor who donated $1 million dollars to his local library? Do you ever watch in amazement as your well-off boss haggles over the price of a tuna fish sandwich? Is it possible to find an advisor to help you invest your money--without losing it all to a Bernie Madoff-like con man? In the same spirit of Reader's Digest magazine's popular 13 Things They Won't Tell You series, the editors at America's Most Trusted Magazine have developed the ultimate roadmap for making the most of your money and avoiding the wallet-sucking scams that are keeping you off Easy Street. We talked to everyday and not-so-everyday rich folks, and to the experts who helped make them rich, to learn their secrets on what to save for, how much to save--and where to stash cash so that it grows (hint: not that bank savings account).  (Summary)

Contagious : why things catch on

by Jonah Berger    (Get the Book)
Berger (Univ. of Pennsylvania) offers an interesting analysis of the factors that drive products, ideas, and behaviors to diffuse through a population. Bolstered by numerous real-world examples, such as Livestrong wristbands and the Atkins diet, the author identifies six basic principles of viral marketing--the elements encouraging social epidemics. Applications not only include traditional marketing arenas but also are culled from areas such as workplace behavior and political campaigning. Berger devotes separate chapters to his "STEPPS" for prompting viral activity; they include "Social Currency," "Triggers," "Emotion," "Public, "Practical Value," and "Stories." While some of the principles are seemingly well known, Berger underscores the key challenge of cutting through the clutter and offers advice on creating effective messages and content that will be "contagious." The result is a useful and practical guide for practitioners seeking to achieve maximal impact with a limited budget. The volume is interesting, informative, and topically relevant, as astronomically growing numbers continue to share information via mobile devices. Additionally, graduate students, particularly those in MBA programs, would find this book an engaging supplement in any marketing course. --Library Journal

The themes of Quine's philosophy : meaning, reference, and knowledge

by Edward F. Becker    (Get the Book)
Becker (Univ. of Nebraska, Lincoln) provides an exposition of the central themes of W. V. Quine's philosophy beginning with the rejection of conventionalism, the linguistic doctrine of logical truth, and the analytic-synthetic distinction. He then moves on to the views that Quine defended: the indeterminacy of translation, the inscrutability of reference, and ontological relativity. Where he finds difficulties, he explains either how Quine modified his theories as he changed his views, or he provides suggestions as to how Quine could defend his position. Becker's exposition and critical evaluation are clear, thorough, and insightful. The closest comparison to this work is Roger Gibson's The Philosophy of W. V. Quine: An Expository Essay. --Choice

The boundaryless organization : breaking the chains of organizational structure

by Ron Ashkenas and Todd Jick   (Get the Book)
In 1995 The Boundaryless Organization showed companies how to sweep away the artificial obstacles-such as hierarchy, turf, and geography-that get in the way of outstanding business performance. Now, in this completely revised edition of their groundbreaking work, management experts Ron Ashkenas, Dave Ulrich, Todd Jick, and Steve Kerr offer an up-to-date version of their comprehensive guide to help any organization go "boundaryless"-and become a company with the ability to quickly, proactively, and creatively adjust to changes in the environment. With new examples, a new commentary on the developments of the last five years, and illuminating first-hand accounts from pioneering senior executives, the authors once again show why "boundaryless" is a prerequisite for any organization trying to succeed in the economy of the twenty-first century. (Publisher)

The alliance : managing talent in the networked age

by Reid Hoffman    (Get the Book)
Fresh off the success of 2012's The Start-Up of You, LinkedIn cofounder Hoffman and entrepreneurs Casnocha and Yeh return with an extended version of Hoffman's Harvard Business Review article "Tours of Duty." This packed book focuses on "rebuilding trust and loyalty through an alliance" between employees and employer; the old model is "based on a dishonest conversation," which promises loyal employees guaranteed lifetime employment. Downsizing and layoffs have ended that model. Employees are now expected to think more like entrepreneurs, and companies and their staffs must find new models to build trusting, mutually productive relationships. Hoffman and his coauthors suggest that companies create "tours of duty" to foster employee growth and development. The three tours are "rotational," during which entry-level employees can learn the business and find their place; "transformational," during which the mid-career employee can do something substantive; and "foundational," for long-term employees who serve as stewards of the mission. This approach is heavily based on fast-paced, competitive world of Silicon Valley, and, at times, the emphasis on LinkedIn makes the book feel like an ad campaign. Nonetheless, the specifics on helping employees network and aligning employee and company goals and values will help all employers create an engaged and self-actualized workforce. --Publishers Weekly

Money : how the destruction of the dollar threatens the global economy--and what we can do about it

by Steve Forbes    (Get the Book)
Co-authors Forbes, chairman and editor in chief of Forbes Media, and Ames, a communications executive, previously collaborated on How Capitalism will Save Us and Freedom Manifesto. Here, they argue that the U.S. dollar needs to be strengthened by returning to a gold standard. The authors write that the current Federal Reserve policy based upon Keynesian economics weakens the dollar without stimulating the economy in any lasting manner. They propose to establish by law a set ratio between gold and the U.S. dollar to create a stable yardstick of value that will instill trust in the currency. Forbes and Ames argue that this will alleviate a host of ills including government overspending, inflation, high interest rates, crime, speculative trading, and a chaotic economy in general. They also include advice for investors trying to cope in the current economic environment. Clearly, this book is a partisan polemic in favor of putting the dollar back on the gold standard while discounting possible pitfalls of that action, but the authors write intelligibly for a general audience and make a persuasive case on the dangers of inflation and a weak currency. VERDICT While this work will certainly resonate with "gold bugs" and others suspicious of the Federal Reserve, it also offers thoughtful reading for anyone concerned about today's economic malaise. --Library Journal

The halo effect-- and the eight other business delusions that deceive managers

by Philip M. Rosenzweig    (Get the Book)
This tart takedown of fashionable management theories is a refreshing antidote to the glut of simplistic books about achieving high performance. Rosenzweig, a veteran business manager turned professor, argues that most popular business ideas are no more than soothing platitudes that promise easy success to harried managers. Consultants, journalists and other pundits tap scientifically suspect methods to produce what he calls "business delusions": deeply flawed and widely held assumptions tainted by the "halo effect," or the need to attribute sweeping positive qualities to any company that has achieved success. Following these delusions might provide managers with a comforting story that helps them frame their actions, but it also leads them to gross simplification and to ignore the constant demands of changing technologies, markets, customers and situations. Mega-selling books like Good to Great, Rosenzweig argues, are nothing more than comforting, highbrow business fables. Unfortunately, Rosenzweig hedges his own principles for success so much that managers will find little practical use for them. His argument about the complexity of sustained achievement, and his observation that success comes down to "shrewd strategy, superb execution and good luck," may end up limiting the market for this smart and spicy critique. --Publishers Weekly

20 retirement decisions you need to make right now

by Ray E. LeVitre     (Get the Book)
You're in Control of Your Retirement Future Inside are twenty major financial decisions that could profoundly impact your lifestyle over the next forty years. For many retirees, these decisions come as a surprise and must be made hastily without proper consultation. But by reading the expert, commission-free advice in this fully revised and updated edition, you'll learn how to manage your assets and prepare for the bestpossible retirement. - Do I have enough money to retire now? - How will I cover my medical expenses during retirement? - When should I begin taking Social Security? - How much should I invest in stocks, bonds, and cash? - What criteria should I use to identify the best investments? - Should I cancel my life insurance policy? - Should I pay off my mortgage at retirement? (Publisher)

Maximum success with Linkedin : dominate your market, build a global brand, and create the career of your dreams

by Dan Sherman     (Get the Book)
Leverage the power of the world's largest professional network for all your business purposes Maximum Success with LinkedIn revolutionizes the way busy professionals use LinkedIn. It isn't just about professional networking and job-seeking; it's a step-by-step guide to answering any professional challenge by harnessing the potential of LinkedIn. It explains how to use LinkedIn to: Find customers, partners, investors, or advisors Hire qualified employees Build a personal brand to draw customers and recruiters Attract opportunities for more work, media exposure, lucrative partnerships Increase your network with thousands of contacts with one simple technique Find and land the perfect job Develop business relationships The book includes access to online resources for regular updates. Dan Sherman is a full-time LinkedIn consultant, trainer, and speaker, who works with companies and individuals to help them maximize the potential of the world's largest professional network. He has more than twenty years of corporate marketing management experience at successful firms, ranging from Silicon Valley Internet startups to Fortune 500 companies. (Publisher Summary)

The reckoning : financial accountability and the rise and fall of nations

by Jacob Soll   (Get the Book)
Good bookkeeping makes for good government-but not for very long-according to this absorbing history of accounting in the public sphere. Historian and MacArthur fellow Soll (The Information Master) surveys public financial record keeping after the invention of double-entry accounting in 13th-century Tuscany, a breakthrough that made systematic analysis of profit and loss possible. The benefits for well-ordered, responsible government were felt wherever this innovation was embraced: medieval Italian city-states, 17th-century Holland, and 18th-century Britain all became economic and geopolitical powerhouses, he argues, thanks to well-kept government books. But his is even more a story of backsliding and failure, as corruption, spendthrift government, and factional intrigues perennially undermine the discipline of meticulous public accounting-and the state. Soll's engaging narrative highlights both the political impact of accounting practices-a public audit of Louis XVI's woeful state finances helped spark the French Revolution-and the advent of a "culture of accountability" as the bourgeois business classes rose to power; he explores the deep-seated religious and philosophical power of balanced-books metaphors in the West, from the Gospel of Matthew to Thoreau's championing of the simple life. The result is a provocative, illuminating take on history that assigns humdrum accountants a central and dramatic role. --Publishers Weekly

Doing more with less : the new way to wealth

by Bruce Piasecki    (Get the Book)
"After the last set of business scandals and financial busts, many powerful interests and many influential people are asking questions about doing more with less, from governments to multinational corporations; they are seeking this realignment in hopes of regaining their balance. Doing More with Less is an actionable call to arms, with global insights--that are of immediate application to professionals in any industry--into new ways to better align money, people, and rules. Author, Bruce Piaceski, convincingly lays out the case for a return to frugality, providing relevant examples from his thirty years of experience as a management consultant and change agent. Piaceski deftly explains how this approach to competition is relevant, and provides readers with the framework to look at what's next without tottering toward failure"-- (Publisher)

Success as a real estate agent for dummies

by Dirk Zeller    (Get the Book)
Make your fortune in the real estate business? Easy. Whether you are looking to rev up your real estate business, deciding whether to specialize in commercial or residential real estate, or just interested in refining specific skills, Success as a Real Estate Agent For Dummies has it covered. This no-nonsense guide, with guidance from an industry expert, shows how you can become a successful real estate agent. It provides advice on acquiring the skills needed to excel and the respect and recognition you'll gain through making sales and generating profit. Soon you'll have all the tools you need to: prospect your way to listing and sales; build a referral-based clientele; plan and host a successful open house; present and close listing contracts; stake your competitive advantage; spend less time to earn more money; and much more. Features tips and tricks for working with buyers Includes must-haves for a successful real estate agents Offers tried-and-true tactics and fresh ideas for finding more prospects--and closing more deals Whether it's lead generation via blogging or social media channels, Success as a Real Estate Agent For Dummies gives you key ways to communicate and prospect in a new online world. (Publisher)

Capital in the twenty-first century

by Thomas Piketty     (Get the Book)
What are the grand dynamics that drive the accumulation and distribution of capital? Questions about the long-term evolution of inequality, the concentration of wealth, and the prospects for economic growth lie at the heart of political economy. But satisfactory answers have been hard to find for lack of adequate data and clear guiding theories. In Capital in the Twenty-First Century, Thomas Piketty analyzes a unique collection of data from twenty countries, ranging as far back as the eighteenth century, to uncover key economic and social patterns. His findings will transform debate and set the agenda for the next generation of thought about wealth and inequality. Piketty shows that modern economic growth and the diffusion of knowledge have allowed us to avoid inequalities on the apocalyptic scale predicted by Karl Marx. But we have not modified the deep structures of capital and inequality as much as we thought in the optimistic decades following World War II. The main driver of inequality--the tendency of returns on capital to exceed the rate of economic growth--today threatens to generate extreme inequalities that stir discontent and undermine democratic values. But economic trends are not acts of God. Political action has curbed dangerous inequalities in the past, Piketty says, and may do so again. A work of extraordinary ambition, originality, and rigor, Capital in the Twenty-First Century reorients our understanding of economic history and confronts us with sobering lessons for today. (Summary)

Invent it, sell it, bank it! : make your million-dollar idea into a reality

by Lori Greiner    (Get the Book)
Greiner's obsession with an idea for an earring organizer launched her into a long career as inventor and entrepreneur. With no background or education in business and none of the advantages of the Internet age, she now has more than 400 inventions to her credit, 15 years on QVC's Clever & Unique Creations, and her notoriety as the warm-blood shark on Shark Tank. Greiner has much to share with aspiring inventors. From her own early efforts, both failures and successes, she shares what she's learned along the way from concept to market shelf, including designing, patenting, manufacturing, pricing, and marketing. Greiner includes step-by-step instructions and checklists to identify the basic elements usefulness, uniqueness, safety, well-priced, desirable, and easily demonstrated of promising inventions. She includes advice on how to use social media and online surveys to do market research and the pros and cons of getting financing through friends, family, banks, crowd funding, or venture capitalists. Most fascinating are her behind-the-scenes looks at QVC and Shark Tank as she recalls the ups and downs of pitching ideas. --Booklist

The Charles Schwab guide to finances after fifty : answers to your most important money questions

by Carrie Schwab-Pomeranz    (Get the Book)
Building off her popular "Ask Carrie" column, Schwab-Pomerantz (president, Charles Schwab Fdn., senior vice president, Charles Schwab & Co., Inc.; coauthor, It Pays To Talk) presents her latest book as a collection of answers to the most important questions for those who may be near retirement or thinking about it. After introducing her "Top Ten Recommendations for Every Age" on how to become and remain financially fit, she addresses everything from planning for retirement to encouraging financial independence in children and other family members. Her style is conversational and open-minded, a necessity with such a delicate subject. The advice is sound, not groundbreaking, but readers will appreciate the Q&A format that will allow them to skip to the most relevant points as needed. VERDICT The title of the book should not dissuade younger readers from picking up this volume as it includes invaluable guidance on many personal finance topics that affect those under 50, including saving for college, paying off debt, and preparing for the golden years. --Library Journal

Social insecurity : 401(k)s and the retirement crisis

by James W. Russell     (Get the Book)
This is the story of how one individual fought bureaucracy and won. Along the way, Russell (Double Standard: Social Policy in Europe and the U.S., 2010) educates us about the fallacies inherent in our three-legged retirement system of Social Security, personal savings, and the employer pension 401(k) system. Although most of his battle is with the pension (defined benefit or DB) plan in the state of Connecticut, he manages to give readers an eyeful (and earful, if you can hear his insistence) about Social Security and the issues with personal investing not only in the U.S. but also in Chile, the UK, and other countries. His homework is impressive. He's researched the opinions of the World Bank, countless politicos and U.S. presidents, and conservative think tanks, as well as the outliers, such as the Cato Institute and Peter Orszag. Meanwhile, he also demystifies the pundits: Social Security will not go broke; 401(k)s do not offer a higher rate of return; and defined contribution plans (such as 401(k)s) are cheaper for employees and employers. His campaign is truly a case history to be emulated, one that requires much patience and time. --Booklist

When buyers say no : essential strategies for keeping a sale moving forward

by Tom Hopkins    (Get the Book)
Every no means something different in sales. And rather than relying on a rote way of teaching how to break through these obstacles, experts Hopkins (author of How to Master the Art of Selling, 1980) and Katt show readers through examples. Their process is named the circle of persuasion, which starts and ends with traditional steps, from establishing rapport to closing the sale. What makes the program work is the authors' intense attention to detail as well as two conversation-filled case histories that mirror the content in each chapter. Here, salesperson Kate focuses on business sales; Bob, on residential. Emphasizing that a no doesn't signify a personal rejection, Hopkins and Katt pound away on the fundamental skills every good salesperson should acquire, such as listening, going beyond surface rapport, relaxing (a key attribute when the close is near), and negotiating. Selling well is not an easy subject to teach on the printed page; both authors will earn readers' respect for doing just that. --Booklist

Do cool sh*t : quit your day job, start your own business, and live happily ever after

by Miki Agrawal    (Get the Book)
Agrawal, who founded New York City's farm-to-table pizzeria Slice at age 25, presents a unique approach to happiness and fulfillment: "doing cool shH t." Her success story is likely to lure potential readers: she's now partnering with Zappos.com founder Tony Hsieh (who contributes the book's foreword) to open Slice: Las Vegas. Offering a combination of vivid stories with action-able advice, Agrawal helps readers define and achieve their personalized versions of success. A cornerstone of her advice centers on mutually beneficial experiences. She encourages the evaluation of all relationships through a mutually beneficial lens and then prompts action, whether it means asking for change or moving on. Throughout, she challenges the reader to continually ask questions and to assess using her "BET" (bullet, eliminate, and take on) system, which consists of creating a segmented list of commitments, affiliations, and people. The result: eliminating the unworthy, nurturing the useful, and initiating new activities that conform with personal goals. Simple yet powerful, Agrawal's process liberates readers from conventional thinking and restrictions, freeing them to pursue their passions and make a living at the same time. --Publishers Weekly

Catching the Wolf of Wall Street : more incredible true stories of fortunes, schemes, parties, and prison

by Jordan Belfort   (Get the Book)
Belfort's memoir (his recollection of events with some changed names and reconstructed dialogue) was written after serving almost two years in prison for securities fraud. The author recounts his meteoric rise on Wall Street, where he built one of the largest brokerage firms by age 27. He reflects upon his remarkable journey, explaining his core skill of training salesmen, especially stupid or naive young people, showing them how they can become rich. This is the story of a scam artist who enjoyed a lifestyle of parties, hookers, and drug dealing until the FBI took him away in handcuffs at age 36. It tells of his cooperation with the government and his life as an informant. In recounting what he acknowledges was his dysfunctional life, his apparent devotion to his children is a bright light. This sordid saga will either become popular as a cautionary tale of greed and treachery or it will become romanticized as glamorous excess and celebrity. --Booklist

Creativity, Inc. : overcoming the unseen forces that stand in the way of true inspiration

by Edwin E. Catmull    (Get the Book)
Finding Nemo. Toy Story. The Incredibles. These wildly successful, award-winning films are all part of the outstanding canon Pixar Animation Studios has produced since its inception in 1986. Pixar co-founder and president Catmull takes us inside the company and its evolution from unprofitable hardware company to creative powerhouse. Along the way, he addresses the challenge of building an effective and enduring creative culture. Punctuated with surprising tales of how the company's films were developed and the company's financial struggles, Catmull shares insights about harnessing talent, creating teams, protecting the creative process, candid communications, organizational structures, alignment, and the importance of storytelling. His own storytelling power is evident as he narrates the company's precarious journey to profitability. Written in an earnest and introspective tone, with the help of Wallace, the book will delight and inspire creative individuals and their managers, as well as anyone who wants to work "in an environment that fosters creativity and problem solving." Catmull's voice and choice of topics reveals him to be a caring, committed, philosophical leader who loves his work, respects his creative colleagues, and remains committed to the advancement of computer animation and great filmmaking. --Publishers Weekly

House of outrageous fortune : Fifteen Central Park West, the world's most powerful address

by Michael Gross    (Get the Book)
Fifteen Central Park West is the New Gilded Age address of a new generation of moguls enjoying the costliest real estate in an enclave of international wealth from the worlds of finance, technology, information, and entertainment. Gross, chronicler of the wealthy in 740 Park (2005) and Unreal Estate (2011), looks beyond the list of notable tenants (Sting, Denzel Washington, top executives from Goldman Sachs, Google, and Yahoo) to explore the changes in the architectural and social landscape of elite Manhattan. Gone are the days of snobbish cooperative boards declining the declasse, gone are the old assumptions of the good buildings. Gross details the ego-bruising battles to get into 15 CPW and the campaigns to snag just the right tenants for the tycoon-stuffed building. Gross offers historical perspective on the real-estate market in Manhattan, on the rise and fall of trendy buildings and their owners and tenants up to the latest shift in real-estate and financial markets, which has broadened the upper crust to include the newly wealthy, foreigners, and more ethnic Americans. Drawing on interviews with real-estate titans and power brokers, Gross provides a deliciously detailed and completely engaging look at how the 0.1 percent live in one building. --Boooklist

Talk like TED : the 9 public speaking secrets of the world's top minds

by Carmine Gallo   (Get the Book)
TED Talks have earned an enviable reputation for public speaking that likely only increases the jitters for most people called on to make presentations. But after analyzing 500 presentations, Gallo, author of The Presentation Secrets of Steve Jobs (2009), identifies the common elements that make TED Talks so successful. He offers nine secrets, including mastering the art of storytelling, being passionate about the subject matter, speaking conversationally, using humor, delivering jaw-dropping moments, and keeping presentations to 18 minutes. Gallo divides the lessons into three parts, focusing on the emotional, novel, and memorable. Drawing on research by psychologists and communication experts, Gallo provides detailed analysis of TED Talks. The book is most fascinating, however, when Gallo recalls interviews with some of the most successful TED speakers, offering recollections of their processes in preparing for the talk. Gallo's references to particular TED speakers are sure to send readers to the TED website to check on the talks themselves. This is sound advice and encouragement for those who need to make presentations and an enjoyable resource for fans of TED Talks. --Booklist

Absolute value : what really influences customers in the age of (nearly) perfect informatio

by Itamar Simonson    (Get the Book)
According to Simonson (Sebastian S. Kresge Professor, marketing, Graduate Sch. of Business, Stanford Univ.) and Rosen (The Anatomy of Buzz), what draws consumers to products in an age of readily available information is their "absolute value," or ultimate quality. The authors argue that the ease of finding immediate evaluations from strangers, friends, and experts about any given item with the click of a button has stripped away most marketing dogma. Gone are the days when positioning or brand loyalty influenced what people bought. Many products are at the mercy of aggregation tools and review websites, with the report from a buyer about their experience determining its success or failure. The book identifies the shift from relative value to absolute; the new changes in marketing, given the way people respond to the rapid spread of accessible information about new products; and the introduction of an "Influence Matrix" that helps managers determine where their product falls in this new framework. -Simonson and Rosen offer suggestions for how to navigate successfully the new environment and quickly respond to the opportunities it affords. VERDICT The authors' approach to thriving in the new climate of consumerism is a worthwhile addition to any business section. --Library Journal

Young money : inside the hidden world of Wall Street's post-crash recruits

by Kevin Roose    (Get the Book)
Roose, a financial journalist and author, offers a compelling glimpse of Wall Street in the post-2008 recession era as he shadows eight first- and second-year entry-level analysts at leading investment firms. All college graduates in their early twenties, they give him unauthorized access to their own experiences and lives in return for absolute anonymity. We learn about their big bonuses and lifestyles along with 100-hour work weeks. Roose is quoted, Their offices are covered in moldy takeout containers . . . . They dress in whatever is left in the clean laundry bag . . . and haven't seen sunlight in two months. The author discovers the toll the 2008 recession has taken on Wall Street, shrinking it significantly with lost jobs, and he also cites emerging competition for recruits from the growing technology industry. Overall values in this generation may be changing, too, as a student and potential Wall Street recruit said, Everyone wants to make money. But when I'm working in the place, I want to know that I'm doing some good. A thought-provoking, excellent book. --Booklist

The moment of clarity : using the human sciences to solve your hardest business problems

by Christian Madsbjerg    (Get the Book)
The authors describe the experience as a fog, a time when the business and its executives know something's wrong but can't quite define it. Consultants Madsbjerg and Rasmussen are proponents of sensemaking, a nonlinear process derived from the human sciences (like anthropology and ethnography) in which judgment and intuition help drive answers. Their statements of assumptions will have every head nodding: among others, that people are rational and fully informed, that tomorrow will look like today, and that hypotheses are objective and unbiased. Yet what they do is so innately smart and practical that it's a real surprise more corporations haven't adopted it. Look at LEGO, one of their four detailed case histories. In the early 2000s, sales slipping, the company turned to a new CEO and new thinking about the role of play in kids' lives. Adidas, too, turned to sensemaking, realizing that its core appeal was no longer to athletes or wannabes but rather as an inclusive brand inviting all of us to join a movement of living a healthier and better life. Strong, seductive arguments that hopefully will sway the logic and process makers among us. --Booklist

Appreciative inquiry : a positive revolution in change

by David L. Cooperrider    (Get the Book)
Originally part of Berrett-Koehler Communication's "Collaborating for Change" series, this short introduction to Appreciative Inquiry is the best way for organisations to be introduced to AI by the originators and leaders of the movement itself. Now with a new introduction and updated with revisions throughout, "Appreciative Inquiry" offers an approach that works because it acknowledges the prevailing attitudes toward change. It offers a fresh view based on the possibility of a more desirable future, experience with the whole system and activities that signal "something different is happening this time." That difference systematically taps the potential of human beings to make themselves, their organisations and their communities more adaptive and more effective. This approach is based on solid, proven principles for unleashing people's creativity, knowledge and spirit toward a common purpose. (Summary)

Jim Cramer's get rich carefully

by Jim Cramer    (Get the Book)
Cautious investors are weary of low returns on bonds and CDs but wary of the stock market, given recent precipitous declines and minor crashettes. Cramer, former hedge fund manager, host of CNBC's Mad Money, and founder of TheStreet.com, asserts that conservative investors need not shy away from stocks. Cramer identifies several megatrends (and stocks) that promise strong returns, including technology that embraces the holy trinity of social, mobile, and the Cloud; healthy eating; frugality; biotechnology; and energy. Beyond the trends, Cramer highlights bankable CEOs offering strong management that also promises strong returns on the stocks in their companies. In highly accessible language, Cramer explains how the stock market is influenced by economic data, Fed policy, world events, the actions of hedge funds, and the trend toward sector funds even when the underlying fundamentals of a stock remain stable. Drawing on his long experience, both mistakes and successes, Cramer demystifies the stock market and offers sound investing advice and an insightful overview of the market for cautious investors. --Booklist

The contest of the century : the new era of competition with China--and how America can win

by Geoff Dyer    (Get the Book)
After decades of dominance in world geopolitics, the U.S. is now facing a growing rivalry with China that will be the major factor in world politics in the coming decades. But that rivalry is not likely to be as intense and bitter as the Cold War rivalry with the Soviet Union. Instead, it will be characterized by a constant balancing of power and shifting coalitions, according to Dyer, economics correspondent for the Financial Times. Dyer focuses on three phenomena: the rising Chinese challenge to U.S. power in military might in Asia, nationalist policies on the world stage, and the challenge to the U.S. dollar by the strengthening Chinese currency. Dyer places the current rise of China in the broader context of changes in the Chinese Communist Party, including reform of its image since the Tiananmen Square massacre and more expansive economic, if not political, policies. Finally, Dyer addresses fatalistic views of the rise of China, arguing that the U.S. can continue to exert enormous influence if it stabilizes its own economy and neither confronts China nor isolates itself. A thoughtful, insightful look at changing geopolitics. --Booklist

Chris Christie : the inside story of his rise to power

by Bob Ingle    (Get the Book)
In this exhaustive biography, journalists Ingle (coauthor, The Soprano State) and Symons explore the life and times of New Jersey governor Chris Christie, who came to national attention after cleaning house in state government, which resulted in "convictions or guilty pleas of more than 130 public officials." The authors detail Christie's personal background, discussing his parents and their partisan differences, his plans at age 10 to become a lawyer, his marriage and children, and his switch from pro-choice to pro-life after hearing his daughter's prenatal heartbeat. But the bulk of the volume focuses on Christie's 25-year political career-from law firm partner to county freeholder, an unsuccessful election for state senator, a stint as U.S. attorney for New Jersey under Bush, and finally, the governorship. The authors highlight Christie's frank nature ("I weigh too much because I eat too much."), his "tough 'Jersey guy' image," and his willingness to defend his opinions even when they are in opposition to the default GOP platform (e.g., his support of certain firearm restrictions). Speculation abounds regarding Christie's political aspirations, and Ingle and Symons provide an excellent introduction to this provocative politician. "He's demanding, he's loyal, he's combative, he's entertaining, he's mouthy-but never boring." Neither is this book. --Publishers weekly

Finding the space to lead : a practical guide to mindful leadership

by Janice Marturano     (Get the Book)
New Jersey-based Marturano (founder & executive director, Inst. for Mindful Leadership; Huffington Post) outlines a method for executives and leaders to use meditation and self-awareness to create a meaningful daily work experience for both the executive and the employee. Based on her experiences within a Fortune 500 company, the author provides a practical guide to developing what she identifies as the four attributes of mindful leadership: clarity, focus, creativity, and compassion. The book is divided into three parts. The first outlines mindful leadership and offers the author's own story of how she came to use this method in her role as a vice president at General Mills. The second part introduces basic meditation practices (walking, breathing, pausing) as a way to strengthen values-based leadership. The final section presents a path to becoming the kind of leader who makes a difference within an organization. While the suggested daily meditations may feel too New Agey and turn away readers looking for a results-oriented management text, the emphasis on remembering how to stop and refocus during the day could find traction with those too exhausted from daily task management. --Library Journal

On the edge : the art of high impact leadership

by Alison Levine    (Get the Book)
In her assured, personable debut, Levine-team captain of the first American Women's Everest Expedition and a former associate at Goldman Sachs-takes lessons learned on the slopes of the world's tallest mountains and applies them to everyday business challenges for executives at all levels, as well as politicians, educators, and students. On the premise that "everyone is in a leadership position," Levine covers topics including extreme preparation, the importance of failure, succeeding in difficult conditions, networking, ego management, making the most of weakness, building trust and loyalty, and bringing your A-game to every challenge. Levine writes, "leadership in extreme environments requires the willpower, the teamwork, the high moral character, and the emotional intelligence necessary to overcome exceptional hurdles, solve complex problems, and face any sudden, uncontrollable, high-risk situation, including those that exist in today's business world." The book is best suited to readers looking for their advice framed in an adventure story; the lessons within are cast in broad strokes, appealing, perhaps, to business readers who prefer not to read the words "synergy" or "laser-focus" yet again. If they can get past the feeling of inferiority from reading the work of a business-savvy extreme climber who's also funny, readers will find much to learn here. --Publishers Weekly

Jim Cramer's get rich carefully

by Jim Cramer    (Get the Book)
Tired of phony promises about getting rich quickly, promises that lead to reckless decisions (the stepping stones to the poor house)? How about trying something different? How about going for lasting wealth#151;and doing it the cautious way? In Get Rich Carefully, Jim Cramer uses his thirty-five years of experience as a Wall Street veteran and host of CNBC's Mad Money to create a guide to high-yield, low-risk investing. In our recovering economy, this is the plan you need to make big money without taking big risks. Drawing on his unparalleled knowledge of the stock market and on the mistakes and successes he's made on the way to his own fortune, Cramer explains#151;in plain English#151;why you can get rich in a prudent, methodical way, as long as you start now . In his own inimitable style, Cramer lays it on the line, no waffling, no on-the-one-hand-or-the-other hedging, just the straight stuff you need to accumulate wealth. (Publisher Summary)

The frackers : the outrageous inside story of the new billionaire wildcatters

by Gregory Zuckerman      (Get the Book)
Fans of the lively, character-driven nonfiction of writers like Kurt Eichenwald and Ben Mezrich should welcome this book with open arms. It's a potentially dry story: a bunch of guys try to make a lot of money by hammering subterranean rock formations (shale, mostly) with liquid, breaking them up, allowing the trapped-in natural gas to come to the surface. This is hydraulic fracturing, otherwise known as fracking, and, in Zuckerman's hands, the topic generates a surprisingly entertaining story about Big Men with Big Ideas, the highly competitive (and, in some cases, increasingly desperate) search for a new and potentially highly profitable source of energy. Zuckerman also explores the often passionate and outspoken opposition to the drilling procedure (for some, fracking doesn't just sound like a dirty word; it is one), although he doesn't come down on one side or the other. He shows us the beneficial side of fracking and the potentially environmentally disastrous side, and lets us find our own ground to stand on. A lively, exciting, and definitely thought-provoking book. --Booklist

The first 90 days : proven strategies for getting up to speed faster and smarter

by Michael Watkins    (Get the Book)
In this new edition (1st ed., CH, May'04, 41-5391), Watkins (leadership development consultant) expands coverage to better reflect the contemporary challenges facing today's organizational leaders as they transition into new positions. Based on his study of leadership at major global organizations, Watkins finds that successful leaders must address, immediately at the onset of new assignments, ten challenges or tenets. These include preparing to take charge; planning to learn; diagnosing situations for the right strategy; building productive working relationships; winning early on; instilling new team processes; identifying critical support; and institutionalizing a common framework to accelerate the organization's transition. Like the earlier edition, the book's ten brief, well-written, and straightforward chapters provide a step-by-step plan covering all aspects of adjusting to new responsibilities and organizational cultures, and the demands and challenges to be expected during the first 90 days as transitional leaders. Chapters are supplemented and enhanced with useful case studies, tables summarizing organizational and leadership theories, and a series of introspective questions. A useful addition to leadership studies collections. --Choice

The bankers' new clothes : what's wrong with banking and what to do about it

by Anat R. Admati    (Get the Book)
This excellent volume provides an invaluable lens through which to view modern banking and the ways it has evolved to privatize returns and socialize risks. The latest financial crisis provides another opportunity to recalibrate the governing rules in the direction of the public interest. However, in the US, the finding of the Financial Crisis Inquiry Commission (2010-11) included a clear rejection of forced structural change in systemically important financial firms. The UK's Vickers Commission report (2011) and EU's Liikanen Report (2012) likewise shied away from full-blown structural banking reforms. Admati (Stanford Graduate School of Business) and Hellwig (Max Planck Institute for Research on Collective Goods) provide an accessible explanation of the inherent risks in the current banking system and propose sensible rules and reforms to make the system stable without damaging bank lending or economic growth. It is difficult to argue with the authors' logic from the perspective of the public interest, but it is easy to see how the political economy of bank regulation could have left society highly exposed to the financial risk dynamics of the recent past. This timely volume is accessible to a wide readership. --Choice