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I.O.U.S.A.: One Nation. Under Stress. In Debt.

Addison Wiggin, Kate Incontrera

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The United States has been spending its way deeper and deeper into the red, and saddling future generations with the mess—but who's paying attention?
To answer that question, the companion book to the critically acclaimed documentary I.O.U.S.A. talks with some of the most revered voices in the nation, including Warren Buffett; former Treasury Secretaries Paul O’Neill and Robert Rubin; Pete Peterson, CEO of The Blackstone Group; Congressman Ron Paul (R-Texas); and bestselling Empire of Debt author Bill Bonner.
Armed with these interviews, historical references, and damning statistics, the book takes a lively and entertaining romp through the four deficits the nation faces: the budget deficit, the personal savings deficit, the trade deficit—and what former U.S. Comptroller General David Walker, who resigned abruptly in 2008 over Congress’s lack of action, calls the “leadership deficit” in Washington.
Defiantly non-partisan, the empowering solutions outlined in these pages are a must-read for any American who wants to help change “business-as-usual” in Washington as a new administration heads towards the Oval Office. “We the People” can get our politicians to stop spending, promote responsible economic programs, and hand our children and grandchildren the secure future they deserve.

Hot, Flat, and Crowded: Why We Need a Green Revolution--and How It Can Renew America

Thomas L. Friedman

Hot, Flat, and Crowded: Why We Need a Green Revolution--and How It Can Renew America Thomas L. Friedman Amazon Price: $15.37
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Book Description

Thomas L. Friedman’s phenomenal number-one bestseller The World Is Flat has helped millions of readers to see the world in a new way. In his brilliant, essential new book, Friedman takes a fresh and provocative look at two of the biggest challenges we face today: America’s surprising loss of focus and national purpose since 9/11; and the global environmental crisis, which is affecting everything from food to fuel to forests. In this groundbreaking account of where we stand now, he shows us how the solutions to these two big problems are linked--how we can restore the world and revive America at the same time.

Friedman explains how global warming, rapidly growing populations, and the astonishing expansion of the world’s middle class through globalization have produced a planet that is “hot, flat, and crowded.” Already the earth is being affected in ways that threaten to make it dangerously unstable. In just a few years, it will be too late to fix things--unless the United States steps up now and takes the lead in a worldwide effort to replace our wasteful, inefficient energy practices with a strategy for clean energy, energy efficiency, and conservation that Friedman calls Code Green.

This is a great challenge, Friedman explains, but also a great opportunity, and one that America cannot afford to miss. Not only is American leadership the key to the healing of the earth; it is also our best strategy for the renewal of America.

In vivid, entertaining chapters, Friedman makes it clear that the green revolution we need is like no revolution the world has seen. It will be the biggest innovation project in American history; it will be hard, not easy; and it will change everything from what you put into your car to what you see on your electric bill. But the payoff for America will be more than just cleaner air. It will inspire Americans to something we haven’t seen in a long time--nation-building in America--by summoning the intelligence, creativity, boldness, and concern for the common good that are our nation’s greatest natural resources.

Hot, Flat, and Crowded is classic Thomas L. Friedman: fearless, incisive, forward-looking, and rich in surprising common sense about the challenge--and the promise--of the future.


Thomas Friedman and Fareed Zakaria: Author One-to-One

Fareed Zakaria: Your book is about two things, the climate crisis and also about an American crisis. Why do you link the two? Fareed Zakaria

Thomas Friedman: You're absolutely right--it is about two things. The book says, America has a problem and the world has a problem. The world's problem is that it's getting hot, flat and crowded and that convergence--that perfect storm--is driving a lot of negative trends. America's problem is that we've lost our way--we've lost our groove as a country. And the basic argument of the book is that we can solve our problem by taking the lead in solving the world's problem.

Zakaria: Explain what you mean by "hot, flat and crowded."

Friedman: There is a convergence of basically three large forces: one is global warming, which has been going on at a very slow pace since the industrial revolution; the second--what I call the flattening of the world--is a metaphor for the rise of middle-class citizens, from China to India to Brazil to Russia to Eastern Europe, who are beginning to consume like Americans. That's a blessing in so many ways--it's a blessing for global stability and for global growth. But it has enormous resource complications, if all these people--whom you've written about in your book, The Post American World--begin to consume like Americans. And lastly, global population growth simply refers to the steady growth of population in general, but at the same time the growth of more and more people able to live this middle-class lifestyle. Between now and 2020, the world's going to add another billion people. And their resource demands--at every level--are going to be enormous. I tell the story in the book how, if we give each one of the next billion people on the planet just one sixty-watt incandescent light bulb, what it will mean: the answer is that it will require about 20 new 500-megawatt coal-burning power plants. That's so they can each turn on just one light bulb!

Zakaria: In my book I talk about the "rise of the rest" and about the reality of how this rise of new powerful economic nations is completely changing the way the world works. Most everyone's efforts have been devoted to Kyoto-like solutions, with the idea of getting western countries to reduce their carbon dioxide emissions. But I grew to realize that the West was a sideshow. India and China will build hundreds of coal-fire power plants in the next ten years and the combined carbon dioxide emissions of those new plants alone are five times larger than the savings mandated by the Kyoto accords. What do you do with the Indias and Chinas of the world?

Thomas FriedmanFriedman: I think there are two approaches. There has to be more understanding of the basic unfairness they feel. They feel like we sat down, had the hors d'oeuvres, ate the entrée, pretty much finished off the dessert, invited them for tea and coffee and then said, "Let's split the bill." So I understand the big sense of unfairness--they feel that now that they have a chance to grow and reach with large numbers a whole new standard of living, we're basically telling them, "Your growth, and all the emissions it would add, is threatening the world's climate." At the same time, what I say to them--what I said to young Chinese most recently when I was just in China is this: Every time I come to China, young Chinese say to me, "Mr. Friedman, your country grew dirty for 150 years. Now it's our turn." And I say to them, "Yes, you're absolutely right, it's your turn. Grow as dirty as you want. Take your time. Because I think we probably just need about five years to invent all the new clean power technologies you're going to need as you choke to death, and we're going to come and sell them to you. And we're going to clean your clock in the next great global industry. So please, take your time. If you want to give us a five-year lead in the next great global industry, I will take five. If you want to give us ten, that would be even better. In other words, I know this is unfair, but I am here to tell you that in a world that's hot, flat and crowded, ET--energy technology--is going to be as big an industry as IT--information technology. Maybe even bigger. And who claims that industry--whose country and whose companies dominate that industry--I think is going to enjoy more national security, more economic security, more economic growth, a healthier population, and greater global respect, for that matter, as well. So you can sit back and say, it's not fair that we have to compete in this new industry, that we should get to grow dirty for a while, or you can do what you did in telecommunications, and that is try to leap-frog us. And that's really what I'm saying to them: this is a great economic opportunity. The game is still open. I want my country to win it--I'm not sure it will.

Zakaria: I'm struck by the point you make about energy technology. In my book I'm pretty optimistic about the United States. But the one area where I'm worried is actually ET. We do fantastically in biotech, we're doing fantastically in nanotechnology. But none of these new technologies have the kind of system-wide effect that information technology did. Energy does. If you want to find the next technological revolution you need to find an industry that transforms everything you do. Biotechnology affects one critical aspect of your day-to-day life, health, but not all of it. But energy--the consumption of energy--affects every human activity in the modern world. Now, my fear is that, of all the industries in the future, that's the one where we're not ahead of the pack. Are we going to run second in this race?

Friedman: Well, I want to ask you that, Fareed. Why do you think we haven't led this industry, which itself has huge technological implications? We have all the secret sauce, all the technological prowess, to lead this industry. Why do you think this is the one area--and it's enormous, it's actually going to dwarf all the others--where we haven't been at the real cutting edge?

Continue reading the Q&A between Thomas Friedman and Fareed Zakaria


Fleeced: How Barack Obama, Media Mockery of Terrorist Threats, Liberals Who Want to Kill Talk Radio, the Do-Nothing Congress, Companies That Help Iran, and Washington Lobbyists for Foreign Governments Are Scamming Us ... and What to Do About It

Dick Morris, Eileen Mcgann

Fleeced: How Barack Obama, Media Mockery of Terrorist Threats, Liberals Who Want to Kill Talk Radio, the Do-Nothing Congress, Companies That Help Iran, and Washington Lobbyists for Foreign Governments Are Scamming Us ... and What to Do About It Dick Morris, Eileen Mcgann Amazon Price: $16.17
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Here are the facts:

The United States has released 425 terrorists from Guantánamo, at least 50 of whom have returned to the battlefield to fight our troops.

Barack Obama and Hillary Clinton both say they're fiscally responsible. But each has called for $1 trillion in tax increases over the next ten years—and dressed them up as tax cuts!

Mainstream Media has been given marching orders from the Society of Professional Journalists: never refer to "Islamic terrorists" or "Muslim terrorists." And they are obeying! Whenever our brave agents disrupt a terror plot, The media dismisses the culprits as a gang of idiots—lulling us into a false sense of security.

If the liberals win the 2008 election, they will cripple talk radio—forcing stations to give equal time to left-wing programs, and insisting that liberals play a key role in station management.

Up to a quarter of all state pension funds in the United States are invested in companies that are helping Iran, Syria, North Korea, or the Sudan—for a total of nearly $200 billion.

The Do-Nothing Congress is still doing nothing—and the worst offenders are the presidential candidates Clinton, Obama, and McCain, who never show up for their day jobs as senators . . . except to pick up their $165,000 paycheck!

Is it any wonder that Americans feel fleeced at every turn?

As more and more critical problems develop that need national attention, the White House and Congress appear to be AWOL.

Who's calling the shots instead?

Big business, big government, big labor, and big lobbyists. And their self-serving agendas are doing nothing to help the ever-increasing number of American people who are losing their homes, paying credit card interest rates higher than 25 percent, and finding their jobs increasingly outsourced to foreign countries.

In this hard-hitting call to arms, Dick Morris and Eileen McGann reveal the hundreds of ways American tax-payers are routinely fleeced—by our own government; by foreign countries like Dubai that are gobbling up American interests and spending millions to influence government decisions and American public opinion; by Washington lobbying firms that are pushing the agendas of corrupt foreign dictators on Capitol Hill; and by hedge-fund billionaires collecting huge tax breaks courtesy of the IRS.

With their characteristic blend of sharp analysis and insider insight, Morris and McGann call offenders of all kinds on the carpet—and offer practical agendas we all can follow to help turn the tide.

Trump University Commercial Real Estate 101: How Small Investors Can Get Started and Make It Big

David Lindahl, Trump University, Donald J. Trump

Trump University Commercial Real Estate 101: How Small Investors Can Get Started and Make It Big David Lindahl, Trump University, Donald J. Trump Amazon Price: $16.77
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Commercial Real Estate Investing 1O1

Trump University books are practical, straightforward primers on the basics of doing business the Trump way--successfully. Each book is written by a leading expert in the field and includes an inspiring Foreword by Trump himself. Key ideas throughout are illustrated by real-life examples from Trump and other senior executives in the Trump organization. Perfect for anyone who wants to get ahead in business, with or without the MBA, these streetwise books provide real-world business advice based on the one thing readers can't get in any business school--experience.

In Trump University Commercial Real Estate Investing 101, you'll discover how to:
* Get started as a small investor
* Understand and read market cycles
* Attract deals and keep them coming
* Use three different techniques for property valuation
* Lock in your profit in the early stages of a deal
* Perform due diligence and uncover the truth behind every deal
* Take only smart risks and recognize bad deals before it's too late
* Tap into financing sources and structure your deals
* Develop a team that will keep your business going when it gets too big to handle alone
* Do simple, smart things to maximize profits when you sell

The Ascent of Money: A Financial History of the World

Niall Ferguson

The Ascent of Money: A Financial History of the World Niall Ferguson Amazon Price: $19.77
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Niall Ferguson follows the money to tell the human story behind the evolution of finance, from its origins in ancient Mesopotamia to the latest upheavals on what he calls Planet Finance.

Bread, cash, dosh, dough, loot, lucre, moolah, readies, the wherewithal: Call it what you like, it matters. To Christians, love of it is the root of all evil. To generals, it’s the sinews of war. To revolutionaries, it’s the chains of labor. But in The Ascent of Money, Niall Ferguson shows that finance is in fact the foundation of human progress. What’s more, he reveals financial history as the essential backstory behind all history.

Through Ferguson’s expert lens familiar historical landmarks appear in a new and sharper financial focus. Suddenly, the civilization of the Renaissance looks very different: a boom in the market for art and architecture made possible when Italian bankers adopted Arabic mathematics. The rise of the Dutch republic is reinterpreted as the triumph of the world’s first modern bond market over insolvent Habsburg absolutism. And the origins of the French Revolution are traced back to a stock market bubble caused by a convicted Scot murderer.

With the clarity and verve for which he is known, Ferguson elucidates key financial institutions and concepts by showing where they came from. What is money? What do banks do? What’s the difference between a stock and a bond? Why buy insurance or real estate? And what exactly does a hedge fund do?

This is history for the present. Ferguson travels to post-Katrina New Orleans to ask why the free market can’t provide adequate protection against catastrophe. He delves into the origins of the subprime mortgage crisis.

Perhaps most important, The Ascent of Money documents how a new financial revolution is propelling the world’s biggest countries, India and China, from poverty to wealth in the space of a single generation—an economic transformation unprecedented in human history.

Yet the central lesson of the financial history is that sooner or later every bubble bursts—sooner or later the bearish sellers outnumber the bullish buyers, sooner or later greed flips into fear. And that’s why, whether you’re scraping by or rolling in it, there’s never been a better time to understand the ascent of money.

Crash Proof: How to Profit From the Coming Economic Collapse (Lynn Sonberg Books)

Peter D. Schiff, John Downes

Crash Proof: How to Profit From the Coming Economic Collapse (Lynn Sonberg Books) Peter D. Schiff, John Downes Amazon Price: $18.45
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The economic tipping point for the United States is no longer theoretical. It is a reality today. The country has gone from the world's largest creditor to its greatest debtor; the value of the dollar is sinking; domestic manufacturing is winding down - and these trends don't seem to be slowing. Peter Schiff casts a sharp, clear-sighted eye on these factors and explains what the possible effects may be and how investors can protect themselves. For more than a decade, Schiff has not only observed the U.S. economy, but also helped his clients reposition their portfolios to reflect his outlook. What he sees is a nation facing an economic storm brought on by growing federal, personal, and corporate debt, too-little savings, a declining dollar, and lack of domestic manufacturing.
Crash-Proof is an informed and informative warning of a looming period marked by sizeable tax hikes, loss of retirement benefits, double digit inflation, even - as happened recently in Argentina - the possible collapse of the middle class. However, Schiff does have a survival plan that can provide the protection that readers will need in the coming years.

The Shock Doctrine: The Rise of Disaster Capitalism

Naomi Klein

The Shock Doctrine: The Rise of Disaster Capitalism Naomi Klein Amazon Price: $10.88
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Total reviews: 318 Average rating: 4.5 of 5

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Naomi Klein's The Shock Doctrine advances a truly unnerving argument: historically, while people were reeling from natural disasters, wars and economic upheavals, savvy politicians and industry leaders nefariously implemented policies that would never have passed during less muddled times. As Klein demonstrates, this reprehensible game of bait-and-switch isn't just some relic from the bad old days. It's alive and well in contemporary society, and coming soon to a disaster area near you.

"At the most chaotic juncture in Iraq'' civil war, a new law is unveiled that will allow Shell and BP to claim the country's vast oil reserves… Immediately following September 11, the Bush Administration quietly outsources the running of the 'War on Terror' to Halliburton and Blackwater… After a tsunami wipes out the coasts of Southeast Asia, the pristine beaches are auctioned off to tourist resorts… New Orleans residents, scattered from Hurricane Katrina, discover that their public housing, hospitals and schools will never be re-opened." Klein not only kicks butt, she names names, notably economist Milton Friedman and his radical Chicago School of the 1950s and 60s which she notes "produced many of the leading neo-conservative and neo-liberal thinkers whose influence is still profound in Washington today." Stand up and take a bow, Donald Rumsfeld.

There's little doubt Klein's book--which arrived to enormous attention and fanfare thanks to her previous missive, the best-selling No Logo, will stir the ire of the right and corporate America. It's also true that Klein's assertions are coherent, comprehensively researched and footnoted, and she makes a very credible case. Even if the world isn't going to hell in a hand-basket just yet, it's nice to know a sharp customer like Klein is bearing witness to the backroom machinations of government and industry in times of turmoil. --Kim Hughes

The Great Crash of 1929

John Kenneth Galbraith

The Great Crash of 1929 John Kenneth Galbraith Amazon Price: $11.20
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Rampant speculation. Record trading volumes. Assets bought not because of their value but because the buyer believes he can sell them for more in a day or two, or an hour or two. Welcome to the late 1920s. There are obvious and absolute parallels to the great bull market of the late 1990s, writes Galbraith in a new introduction dated 1997. Of course, Galbraith notes, every financial bubble since 1929 has been compared to the Great Crash, which is why this book has never been out of print since it became a bestseller in 1955.

Galbraith writes with great wit and erudition about the perilous actions of investors, and the curious inaction of the government. He notes that the problem wasn't a scarcity of securities to buy and sell; "the ingenuity and zeal with which companies were devised in which securities might be sold was as remarkable as anything." Those words become strikingly relevant in light of revenue-negative start-up companies coming into the market each week in the 1990s, along with fragmented pieces of established companies, like real estate and bottling plants. Of course, the 1920s were different from the 1990s. There was no safety net below citizens, no unemployment insurance or Social Security. And today we don't have the creepy investment trusts--in which shares of companies that held some stocks and bonds were sold for several times the assets' market value. But, boy, are the similarities spooky, particularly the prevailing trend at the time toward corporate mergers and industry consolidations--not to mention all the partially informed people who imagined themselves to be financial geniuses because the shares of stock they bought kept going up. --Lou Schuler

Enough: True Measures of Money, Business, and Life

John C. Bogle

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Amazon.com Exclusive: William J. Bernstein on Enough
William Bernstein, Ph.D., M.D. is the critically acclaimed author, financial theorist and historian whose books include A Splendid Exchange: How Trade Shaped the World, The Birth of Plenty, The Four Pillars of Investing, and The Intelligent Asset Allocator. Bernstein is frequently quoted in national publications, including The Wall Street Journal, Barron's, Money, and Forbes.

If you are wondering about the cause of the current market crisis, then you haven't been reading enough of Jack Bogle.

Because he certainly knows not only where, but why and how. For decades Jack has been communicating his disquiet in previous books, speeches, and public testimony. Years from now, when historians and investors dissect the economic and market meltdowns of 2008, they'll consult this slim, well-written volume.

In order to understand the intellectual and moral platform from which he surveys the economic wreckage, you need to know a little of his story. Bogle founded one of the world's great investment companies, the Vanguard Group. Most men in his situation would have levered such success into a multi-billion-dollar net worth; instead, he "mutualized" Vanguard, converting it, in effect, into a nonprofit organization whose only goal was to benefit its fund holders. From an ethical perspective, Vanguard is the only "investment company" worthy of that name. (As opposed to most financial firms, which are in fact "marketing companies" whose main purpose is to milk unwitting investors of fees and commissions.)

The answer to the conundrum of 2008 lies in the book’s title, "Enough," which is the punch line from a delightful Kurt Vonnegut/Joseph Heller story. Simply put, our nation has been suffering from decades of unchecked financial excess, for which we are now paying the piper: excess in investment company fees; excess in financial speculation masquerading as diversification and innovation; excess in the salaries of top executives; excess in salesmanship; and most importantly, excess in the role played by the financial industry in our national economy and national life.

Each of these excesses gets its own chapter, and each one is a tightly written gem. Chapters 2 and 3, which dissect out the frenzy of derivatives, structured vehicles, and layers of intermediation behind the recent collapse, alone justify the book's purchase price.

As Bogle states in the book's beginning, in the spring of 2007 the financial services sector--which, after all, produces nothing of substantive value--accounted for one-third of the earnings of the S&P 500. By the time you read this, this outsized influence will have shrunken drastically. Let Enough be your welcome to the brave new world; it will satisfy your curiosity, give you a sense of moral balance in this most materialistic of ages, and even plump up your investment portfolio.

--William J. Bernstein


Product Description

Enough.
is a piece of work that simply has not been seen by the likes of Jack Bogle before. Sure, the world knows of his legendary financial mind. He is the Father of Index Investing. He is the founder of Vanguard. He is St. Jack. And now he wants to share his own journey, filled with famous characters and telling anecdotes, that aims to teach investors the importance of doing the right thing, how to be a strong leader in today's world, and what it means to have "enough."

“It's hard to imagine a better time to publish a book that advocates moderation, balance and integrity in the business world. In this wise meditation, Bogle, the folk-hero creator of the first index mutual fund and founder of the Vanguard Mutual Fund Group, deplores ‘our worship of wealth and the growing corruption of our professional ethics but ultimately the subversion of our character and values.’ Directly in his sights: CEOs and hedge-fund managers who draw ‘obscene’ compensation. At this time of plunging portfolios, it is a relief to be told that ‘enough’ is within reach.” —TIME Magazine

“Why don’t people publish pamphlets any more. I’m not talking about the slim-jims handed out at trade shows, but rabble-rousing, world-changing works like Common Sense and The Communist Manifesto. John Bogle, the founder of Vanguard, follows in the footsteps of the great pamphleteers…‘Central to the effective functioning of capitalism,’ he writes, ‘was the fundamental principle of trusting and being trusted’—and that is disappearing. The problem now: No one is satisfied with having ‘enough’ money or enough success. … If pamphlets were still the rage, 48 pages distilled from the contents of this book could be something as powerful to our age as anything written by Thomas Paine or Marx and Engels. In our more bookish time, though, Bogle has fleshed his ideas out to an interesting, 266-page overview of his life and his views.”—Barron’s

“’What have I created?’ [Bogle] asks in mock horror in his new book…his cry reflects a deeper personal dilemma, one that jags like a scar through this thoughtful meditation on the excess and greed that created the worst financial crisis since the Great Depression. … I applaud his enthusiasm and don’t doubt his wisdom and sincerity. ‘Enough’ – with the period – is a worthy addition to the canon, a variation of his familiar sermon on thrift, simplicity, and the superiority of low-cost index funds.”—James Pressley, Bloomberg News

“Bogle is a rarity - a true captain of industry who speaks about complex economic issues in a language comprehensible to the layperson.” —Michael Smerconish, The Philadelphia Enquirer

“Enough shines a light on Bogle's sense of despair over the state of the financial industry, and perhaps industry in general. … From CEOs who implode their companies and float away on golden parachutes, to financial companies who create instruments so complex they themselves have trouble understanding them, to mutual fund companies that market rosy returns while sugarcoating their fees, Bogle sees a lack of integrity and a willingness to play fast and loose with ethical rules in order to make a buck. (Or, maybe more accurate, 150 billion bucks.)” —Justin McHenry, BlogCritics Magazine

“Jack Bogle’s passionate cry of Enough. contains a thought-provoking litany of life lessons regarding our individual roles in commerce and society. Employing a seamless mix of personal anecdotes, hard evidence, and all-too-often-underrated subjective admonitions, Bogle challenges each of us to aspire to become better members of our families, our professions, and our communities. Rarely do so few pages provoke so much thought. Read this book.” —David F. Swensen, Chief Investment Officer, Yale University

"Enough. gives new meaning to the words 'commitment,' 'accountability,' and 'stewardship.' Bogle writes with clarity and passion, and his standards make him a role model for all of us. Enough. is must-reading for millions of U.S. investors disenchanted by today's culture of greed, accounting distortions, corporate malfeasance, and oversight failure." —Arthur Levitt, Former Chairman, U.S. Securities and Exchange Commission

"What went wrong? What can, and should, go right? The great Jack Bogle has the answers. Enough. will leave you hungry for more." —James Grant, editor of Grant's Interest Rate Observer

"Jack Bogle's wonderful, thoughtful, helpful, and fun-filled little book inspired me to create my own title: Never Enough of Jack Bogle!" —Peter L. Bernstein, author of Capital Ideas Evolving and Against the Gods

"In Enough., Jack Bogle, 'the conscience of Wall Street,' distills his half-century of observations on the capital markets, and on life in general, into a few hundred entertaining pages—required reading for those concerned about their own future, their family's future, and the nation's future." —William J. Bernstein, author, A Splendid Exchange and The Four Pillars of Investing

“This is an impressive message from a distinguished businessman. It will challenge all decision makers to consider the sufficiency and direction of their lives and work. What do we mean by Enough? Enough of what? Enough for what purpose? Feast here and reflect.” —Robert F. Bruner, Dean and Charles C. Abbott Professor of Business Administration, Darden Graduate School of Business

“From one ‘battler’ to another: Thank you for putting in one little book the premise for an active, long life. A primer for those who will abjure complacency and just wanting more, who’d rather focus on the joy of trying to move some ball downfield.” —Ira Millstein, Senior Partner, Weil Gotshal & Manges LLP

“The balances one must create in investing, in running a business, and in life more generally are simply and clearly stated in Jack’s most recent book, Enough. Unfortunately there are not enough Jack Bogles around in today’s world of instant gratification. Enough. should be must reading for business students and corporate board members.” —David L. Sokol, Chairman, MidAmerican Energy Holdings Company

Freakonomics [Revised and Expanded]: A Rogue Economist Explores the Hidden Side of Everything

Steven D. Levitt, Stephen J. Dubner

Freakonomics [Revised and Expanded]: A Rogue Economist Explores the Hidden Side of Everything Steven D. Levitt, Stephen J. Dubner Amazon Price: $18.45
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Customer Reviews:
Total reviews: 1581 Average rating: 4.0 of 5

Editorial Review:

Economics is not widely considered to be one of the sexier sciences. The annual Nobel Prize winner in that field never receives as much publicity as his or her compatriots in peace, literature, or physics. But if such slights are based on the notion that economics is dull, or that economists are concerned only with finance itself, Steven D. Levitt will change some minds. In Freakonomics (written with Stephen J. Dubner), Levitt argues that many apparent mysteries of everyday life don't need to be so mysterious: they could be illuminated and made even more fascinating by asking the right questions and drawing connections. For example, Levitt traces the drop in violent crime rates to a drop in violent criminals and, digging further, to the Roe v. Wade decision that preempted the existence of some people who would be born to poverty and hardship. Elsewhere, by analyzing data gathered from inner-city Chicago drug-dealing gangs, Levitt outlines a corporate structure much like McDonald's, where the top bosses make great money while scores of underlings make something below minimum wage. And in a section that may alarm or relieve worried parents, Levitt argues that parenting methods don't really matter much and that a backyard swimming pool is much more dangerous than a gun. These enlightening chapters are separated by effusive passages from Dubner's 2003 profile of Levitt in The New York Times Magazine, which led to the book being written. In a book filled with bold logic, such back-patting veers Freakonomics, however briefly, away from what Levitt actually has to say. Although maybe there's a good economic reason for that too, and we're just not getting it yet. --John Moe

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