Posted in General Economics (Friday, December 5, 2008)
Written by Dale Carnegie. By Pocket.
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5 comments about How to Win Friends & Influence People.
- Always wanted to read this classic and now I have. I think I'll post his "tips" all around to remind myself of how to handle various situations with people!
- Originally published in 1936, How to Win Friends and Influence People is the archetype of the practical human relations handbook. It is based on courses in public speaking that had been taught in adult education by Dale Carnegie since 1912 (and to put to rest a popular assumption, he was no relation to the magnate Andrew Carnegie). It is an unusual little book, written in a highly personalized, colloquial style that is reminiscent of a lecture.What's separates this book from others that have come and gone since the 1930s is it's timeless. It is written with a certain earnestness: Carnegie was a big believer in sincerity when it came to dealing with other people. As you read it, you'll find it incredible how easily you relate to the suggestions of a man that penned them more than 70 years ago.
The book opens with fundamental techniques for dealing with people, such as refraining from criticism, expressing sincere appreciation, making people like you by smiling, remembering names, and being a good listener. Final sections describe approaches for persuading people to your way of thinking and how to change people without causing offense or resentment. These positive principles are stated succinctly and illustrated with pertinent, if occasionally outmoded, anecdotes.
While critics have charged that Carnegie emphasized good manners and friendliness over proficiency, the author clearly states that his target audience is competent individuals who are less than successful because they lack people skills, a group that would be well served by his sensible guidance. This book was designed with professionals in mind, and designed to help professional people do better in business by helping them make social contacts and improve their speaking skills. I know that few books have helped me in my career as much as this one.
Another book I very strongly recommend because it's an incredible pairing to Carnegie that has helped me immensely is The Emotional Intelligence Quick Book
- The most essential skill to success is mastering the art of relationships. This classic book shows you how to create genuine relationships with people so that you may take power and responsibility of your life. Anyone who wants to succeed with people must master the strategies and techniques within this book.
This is the first book of its kind. It's wise to learn from the original source that everyone else is just rewriting and regurgitating.
- Since the end of World War II, literally thousands of books have been written about how to improve professionally and personally. Every single one of them can be traced directly back to two books, Napoleon Hill's "Think and Grow Rich" and this classic work of Dale Carnegie's, HOW TO WIN FRIENDS AND INFLUENCE PEOPLE.
Webster's Online dictionary defines "classic" as `serving a standard of excellence; historically memorable'. This book serves up the standard of excellence today as it did when it was first published and is definitely historically memorable. It's quite possible that Napoleon Hill and Dale Carnegie have positively influenced more lives than any other writer's and their influence continues long after they've left this earth.
Some may consider this book outdated, and thanks to our public school system, many of the historical figures of the early twentieth century that are mentioned here will be unknown to many readers. But consider this an opportunity not just to begin building a life of success, but to gain a brief introduction to some of the industrial giants and other notable business people of a century ago. These are, after all, the people who helped shape the modern era of our great country.
There are certainly a wealth of great modern day teachers who might make some of this material more meaningful to today's reader. Stephen Covey, Brian Tracy, Jack Canfield and many others come to mind. I certainly recommend you study the modern day gurus of success and life enhancement, but if your goal is to improve your business or personal life, your library simply must include this book. This is one of those books you will go back and re-read every couple of years and if you're like me, you'll recall its many lessons on a daily basis.
- One problem with Kindle and ebooks is that so many unqualified people can create them. This Kindle edition is full of typos. This book is in the public domain so it has been worked over many times. We need to know the source that was used to copy the work. It is obviously different from other versions. Is this a copy of the original? Or updated version? And how much was added or changed by the copier?
It's like trying to follow a map that someone has edited.
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Posted in General Economics (Friday, December 5, 2008)
Written by Muhammad Yunus. By PublicAffairs.
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5 comments about Banker To The Poor: Micro-Lending and the Battle Against World Poverty.
- This audio book was absolutely wonderful. I found it really inspiring and engaging. I was really surprised by how interesting it was, I was afraid it would be a little dry but that wasn't true at all. I enjoyed every chapter. This book really did make me want to change my life, it gave me a lot to think about that I'm still working with. In fact I hope I never stop thinking about it and the issues it opened up.
The reader was very good, he had enough inflection in his voice to keep it interesting, but did not over play the words. It was the sort of narration that provided a similar feeling to reading myself, where I could put my own emphasis and voice to the words and not be distracted by the an overly dramatic narrator.
- Banker To The Poor: Micro-Lending and the Battle Against World Poverty
This is a life changing book! This book will change the way that you think about poverty and how to end it. In this book, Professor Yunus tells of his own journey in first recognising that the University in which he lectured in Economics, needed to impact his local community, and secondly, doing something about it. The book has all of the elements of a good novel, humour, romance, and drama, but it is so much more. Buy this book, read this book, and then join Kiva.org to make a difference.
- A well written book about how Yunus successfully lent money to impoverished people in Bangladesh and, in so doing, empowered them to create better lives for themselves. The pages echo Yunus's faith in the human spirit, his dedication to eradicating poverty, and his tenacity to succeed in the face of naysayers cries. He talks about the origins of the banks name, The Grameen Bank and notes that Grameen derives from the word gram, or village.
Yunus denounces typical methods of poverty reduction, such as those that tie funds to skills training. And he acknowledges that he has critics in this regard. He writes, "I firmly believe that all human beings have an innate skill. I call it the survival skill. The fact that the poor are alive is clear proof of their ability. They do not need us to teach them how to survive; they already know how to do this. So rather than waste our time teaching them new skills, we try to make maximum use of their existing skills. Giving the poor access to credit allows them to immediate put into practice the skills they already know - to weave, husk rice patty, raise cows, peddle a rickshaw." (p. 140).
- On a recent flight, I read an outstanding book called Banker to the Poor Microlending and the Battle Against World Poverty by Muhammad Yunus. Muhammad taught economics at the University of Bangladesh and saw the poverty around him and felt that that his theoretical work at the university was not solving the problem. What he saw was the small amounts of money loaned to people to allow them to start their business or raw materials could have a huge impact.
He started Grameen Bank and started making micro-credit loans to people in groups using the social pressure to make sure everyone repays their loans. His first loans he saw that 42 people needed $27.00 to buy raw materials and this was his first loan. He had tremendous success repaying the loans and has since grown to almost 2,000 branches and a staff of 11,000 which has loaned $3.9 billion with a recovery rate of 98%.
Impressive results with limited resources.
This is a true book of hope and definitely worth reading.
- This books shows us that the lack of access to credit for the poorest of the poor is possibly as bad as lack of food. Without some access to credit they have absolutely no chance to ever get out of the revolving situation that will absorb then and their children. It's a vicious cycle of poverty that will be perpetuated unless they are given a chance to break it. And they all want to break it. Not for themselves, but for their future generations, which will incrementally improve their situation.
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Posted in General Economics (Friday, December 5, 2008)
Written by Frederick Bastiat. By BN Publishing.
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5 comments about The Law.
- Bastiat's Law is one of the most important documents you could ever read. It is the basis for the philosophy of liberty, and without adherence to these ideals liberty cannot last. This should be required reading in school, but once you read what this french philosopher had to say you may start to understand why those who tax us cannot afford to have too many people read this book.
- While I agree with Bastiat entirely, the way that he has presented "the classic blueprint for a just society," is exactly why people who lean more towards socialist ideas scoff at those who are for capitalism, economic stability, and most importantly honoring the fundamentals of the need for law: to protect life, liberty, and property.
The first chapter started out wonderfully, articulately and simple. It was accessible and easy to understand and apply. I was excited as I hoped to share this with my husband to allow him to open up to my ideas on politics which are different from his (he's a democrat/socialist).
However, the rest of the book just seemed to be a rant that got more and more impassioned as it went along, which to me seemed to take away from the reader's ability to take what he was saying seriously. I was disappointed because even though I agreed with everything he said and thought his applications of his ideas were great, I felt sort of embarrassed about his inability to keep calm in expressing his ideas.
The book is sound, based on sound ideas and should appeal to any libertarian. I nodded a lot as I was reading it. "Yes!" I kept telling myself, "this is definitely true." Unfortunately the truth was told, in this case, in a way that I don't think would be very accessible to the people that Bastiat was intent on reaching. I think a democrat/socialist might mislabel it "too radical" when they really mean, "too impassioned."
It is for that reason, I'm sorry to say, I was unable to rate this any higher.
- I tend to hop between books I read, having 10 or more in progress at the same time. Therefore, when I hop back to "The Law" for my second reading, I still forget occasionally that this book was written 150 years ago. I will get it confused with books written in 2007 or 2008 (other than the slightly odd grammar), as it deals with the exact same issues which are plaguing our government today.
You will recognize very similar topics to today's government. Read about bailouts for large businesses which are in trouble, when the government should mind its own business. Read how politicians protect their power by calling people "isolationists" (though it is called "individualists" in the book) when they ask for less government interference in foreign affairs.
The thing I enjoyed the most was the crisp line which was drawn for where the government belongs. He says that people have the right to protect their liberty and property. The people also have the right to organize together as a group (IE: government) to more effectively protect their liberty and property. Therefore, "The Law" should be used only as a means to protect liberty and property. The forced liberation of any group's wealth (property) for the benefit of another group is completely against the true purpose of government/law.
- 'The Law' is the basis of all justice and the free market. While this is a presumptous statement, I will stand by it because Bastiat actually dissects all fallacies about Big-Government intervention in the lives and business of private citizens, all in the name of 'helping society'. He goes on to predict the evils that would later convulse worthy nations. His prognosis is as relevant today as it was in his day.
This book is also the first place where economics and politics are clearly put in their correct sequence; therefore it should be required reading for all politicians. More importantly, if a sufficient number of individuals in a country were to read this book, they'd throw out 90% of all laws and legislators.
It is a dangerous book.
- Bastiat is one of the greatest. This book is so short, so simple, and so devastatingly effective that it is truly an all-time classic. If you are not a socialist, you should master the simple arguments in this essay and keep them handy for discussions with your socialist friends. If you are a socialist, you should in all intellectual honesty read this book (it can be done in an hour or so) and see if you can answer Bastiat's objection to socialism: that anytime the law is used to organize anything other than justice, such as equality or prosperity, it necessarily and inescapably works against justice. His logic is ironclad and uncomplicated. It's a real shame this is no longer part of our cultural consciousness, since it means we are now embarked on a journey of massive, organized, government-supervised injustice. Read this book, give it to your family, give it to your friends, spread the message. You can also download it for free from the von Mises website.
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Posted in General Economics (Friday, December 5, 2008)
Written by Michael Ramirez. By Wiley.
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5 comments about Everyone Has the Right to My Opinion: Investor's Business Daily Pulitzer Prize-Winning Editorial Cartoonist.
- Wow! One of the funniest and most thought provoking books I've ever read. The images that Michael Ramirez can create with his pen and the powerful editorials that come with it are in a league of its own. The blatant, "in your face" honesty of his cartoons will make you think and laugh and the laughter is guaranteed to be heard by everyone around you!!!
- This guy is great! Great draughtmanship, great humor, and always the right point of view (pun intended)! The One True Heir to the great late Jeff McNelly, and the best political cartoonist today!
- This book is great! I bought it for my husband is who VERY conservative as a gift. I was thrilled to see that Ramirez had published an entire book of his work. We have always gotten a big chuckle out of them before and now we can enjoy all of them! He is very talented and very insightful! This book is a must have!
- This is a terrific book of cartoons by the Pulitzer Prize winner Michael Ramirez. His cartoons certainly reflect the times in which we are living. Some of them make you laugh and some make you sad, but they all make you think.
Ramirez is the best cartoonist living today in my opinion and he should be in every paper in this country.
- It's refreshing to see some truly funny cartoons with a conservative slant. I'd seen his cartoons before, but didn't know who he was... now I'm a lifelong fan.
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Posted in General Economics (Friday, December 5, 2008)
Written by Jeffrey Sachs. By Penguin (Non-Classics).
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5 comments about The End of Poverty: Economic Possibilities for Our Time.
- Jeffrey Sachs uses his broad knowledge to frame the context of a call for action to end extreme poverty in our generation. He demonstrates through detailed statistical comparisons the evolution of the widening gap of economic opportunity between the world's regions, and provides interesting narrative examples to support his conclusions.
Although the statistics sometimes are mind-numbing, Sachs does a good job of creating graphical representations in the form of world maps, which serve to educate the reader and demonstrate the often overlooked connections between health, education and economic development. He has "done his homework" in providing a wealth of historic perspectives on the problems we observe in today's economy.
Sachs uses his groundwork effectively as a springboard to inspire our thinking about how we can help create a better world by doing relatively simple things. Again, he uses the narrative to demonstrate how small amounts of money, medicine or appropriate technologies, delivered to the point of need, can make a huge difference in the outcomes for people living in or near extreme poverty.
- the man who has brought destruction to the Russian economy through the "shock therapy" and preparing the ground for his zionist jewish friends in Russia to own all the key national assets, now goes on to tell us what to do with the rest of the world...his books should be prohibited
- I read. A lot. That said, only half this book is worth the time and energy it took me to read it. The middle half, to be specific. The first few chapters are dedicated to Sachs detailing to us that, no, he's not an idiot writing about something he's had no experience with and that, yes, he can help to solve macroeconomic problems. The end chapters are all Sachs recapping what he said in the rest of the book with charts and graphs that start to become meaningless if you're not a economist or a student with a couple econ classes under your belt. The middle, in my opinion, is the only redeeming part of this book that mentions far too often big-names Sachs has met and important jobs he's held. The middle actually talks about his plan for ending extreme poverty by 2015 and how we can do it. The rest of the book is just padding. So read chapters 8 - 15 if you want to "read" the book. Donate money to an NGO if you want to do something towards ending poverty with your time.
- What do Bono, and countless other celebrities have in common with the author? A: They've always wanted to be celebrities. What is different? A: The celebs actually think that the world can be rid of poverty and misery and vice.
Are you honestly going to tell me that one of the world's most influential economists ACTUALLY believes that poverty can be banished or even meaningfully reduced? Not a chance. Not with Africa's population growth rate. Sachs is selling panic again to promote himself and it's really beginning to grate my nerves.
The entire book is a formula to get people "involved" i.e.: spending money a happy percentage of which Sachs and others like him will collect. The truth is that despite all the self-important boo-hooing about how a child dies every 3 seconds in Africa, no one ever mentions that 12 were just born and 8 survived which is why the continent has a growth rate of 3% and will harbor 1.2 billion starving souls in next 23 years. People who, when China and India become as rich as Japan, will be happy to stitch together our soccer balls.
- If you are like me, you may often worry about the poor and the underprivileged across the world. You may wonder what it would take to help them achieve sustainable livelihoods which is the first step to ending poverty for them. You may even be wondering what role you could play in ending poverty in this world. Well, look no further because here is the book that is a must-read for anyone concerned about global poverty and how to overcome it - "The End of Poverty" by Dr. Jeffery Sachs. Dr. Sachs, one of the leading economists of our times makes this book comprehensible for everyone even if you are not an economist. And what is even more wonderful is that he backs up most of his claims with well-grounded research and reasoning.
The book mainly talks about overcoming extreme poverty. Dr. Sachs defines a person as extremely poor if he/she cannot meet basic needs required for survival. He says that the extremely poor "are chronically hungry, unable to access health care, lack the amenities of safe drinking water, and sanitation, cannot afford education for some or all of the children and perhaps lack rudimentary shelter [..] and basic articles of clothing such as shoes. Unlike moderate and relative poverty, extreme poverty occurs only in developing countries." And 93% of the world's extremely poor live in East Asia, South Asia and sub-Saharan Africa.
Of course, when a country grows economically, it has a direct effect on reducing the extremely poor in that country. But the reason, that many of the countries have not been able to achieve the expected economic growth, as many statistical studies have shown, is due to a multiplicity of factors including fertility rates, education levels, diseases, trade policies and even climate and proximity to markets, some of which are not under the control of the governments of these countries .
As part of the U.N initiated Millennium Development Goals (MDGs), the developed countries committed to contributing 0.7 percent of GNP every year to help the developing countries eradicate extreme poverty by the year 2025 through investments that contribute to sustained economic growth. By presenting a thorough analysis, Dr. Sachs shows that this is adequate money to reach the goal of ending extreme poverty by 2025. So, you may now be wondering where is the problem.
As Dr. Sachs skillfully presents in the book, the problem lies in the fact that the developed world has not kept it's promise although they make it sound that they are doing their best. So, the book is dedicated to making the case to convince the developed world, as to why they should keep their promise, why helping the developing countries eradicate extreme poverty is not just the right thing to do morally but also why it would benefit the developed world in the long term much more than many of the current foreign policies that are on the table. In the process, Dr. Sachs takes institutions like IMF, WorldBank and even the US federal government head-on. He even answers many questions and criticisms about his ideas and theories. On the whole, he makes the book a very engrossing, intriguing and inspiring read. At the end of it, you may even walk away with ideas on how you could help combat global poverty.
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Posted in General Economics (Friday, December 5, 2008)
Written by Karl Marx and Friedrich Engels. By Penguin Classics.
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5 comments about The Communist Manifesto (Penguin Classics).
- ...and PLEASE read beyond the Manifesto! Ignore the anti-Marx ideologues who do not actually read him, and give him a shot. Forget, for a minute, all preconceived notions of communism, and take his writings as though they are fresh and brand new. Only then should you proceed on to reading criticism of him, history of Marxism, etc. The reader who is willing to undertake an actual study of Marx will find him infinitely valuable, and very astute on many things.
First, I'd like to (try to) clear up a few misconceptions about Marx that linger implacably in the minds of almost all Americans.
1) The Soviet Union, China, etc. were not Communist societies.
They were brutal dictatorships under the guise of communism, using it as an ideological blanket to mask their terrible atrocities. Moreover, Marx intended for Communism to evolve out of Capitalist societies (i.e., Britain and America during his time), not out of the feudalistic Russia/China. The argument that Communism killed 100 million is just wrong--dictators corrupting the ideas of communism (Lenin, Stalin, Mao, etc.) did so. So yes, Marx caused the deaths of 100 million in the same way Adam Smith caused the deaths of the Chinese and Irish immigrants who toiled on the railroad--in other words, not at all.
2.) Marxism =/= violence.
In certain places, especially the Manifesto, Marx does permit violence, and, indeed, advocate it. But Marx does not think it NECESSARY--that's the key point. Good Marxist thinkers, and I believe Marx himself, would say that communistic reforms could come just as easily and likely more efficiently from peaceful processes, as we have seen them for the most part in the United States.
3.) Communism is not welfare statism.
In fact, in a, actually realized communist society (unlikely to ever happen, I'll admit) there would be no government. Marx advocated the PEOPLE owning the means of production, not the state. This is a HUGE error that many make when reading Marx. I suspect he was just as distrusting of the state as your average libertarian, he just thought it necessary to rectify some of the wrongs of capitalism and a necessary step toward communism. Note the use of step there: Marx, taking from his predecessor Hegel, believes everything must proceed in steps!!
4.) The Communist Manifesto is not the end-all of communism.
Honestly, the Manifesto is a rather juvenile work compared to many of Marx's other writings, like DAS KAPITAL or GRUNDRISSE. It was intended as a sort of primer to communism, accessible to the common, sparsely-educated worker of Marx's time, and is a better demonstration of Marx/Engel's (everyone forgets about poor Engels!) rhetorical ability than of their thought proper.
I also believe that the Manifesto isn't really the best place to start. It breeds far too many misconceptions about communist thought, partly due to its theatricality, partly due to the way it has been misconstrued throughout the decades. If you do start with the Manifesto, as most people do, PLEASE continue on and read more about Marx! Trust me, it's worth it, and you learn the extreme depth of his theory.
One need only look at their time to understand why Marx and Engels were so infuriated at the capitalist system. Those years of the Industrial Revolution were an exciting and terrifying time. New wealth and new commodities were springing up constantly, but they tended to be concentrated in the hands of very few, while created at the expense of millions of common, downtrodden labourers. Those who attack government regulation of corporations should study the Gilded Age of America, and the Industrial Revolution in England. Child labourer, no safety laws whatsoever, no minimum wage, no work-week, no fair bargaining between workers and employees, government subsidizing of wealthy corporations, union-busters, etc. Is there any wonder Marx and Engels, who were essentially exiled to England during this time, were filled with such anger at the system that caused so much human suffering?
Marx's critique of capitalism is in my estimate the strongest part of his theory, and it is likely that his witnessing the above exploitations of workers is why it is so strong, and why the Manifesto seems so... angry. I strongly recommend that anyone interested in Marxist theory pick up a copy of the Marx-Engels Reader (also available on Amazon) and read through the "Critique of Capitalism" section, which offers selections from his writings under this topic.
How right Marx was is for the reader to decide. Again, I find his critique of capitalism VERY accurate, and believe the only reason his predictions haven't come to fruition to be because we implemented some of his recommended policies (we now live in a blended economy, somewhere on the spectrum between pure capitalism and communism). Communism itself is a bit silly, but not so much as the anti-Marxists make it out to be. The real take-away point here is that you should study (not read, STUDY) Marx for yourself, and not accept what I, or the anti-Marxists, tell you.
- Kinda a pointless book now that communism has been proven ineffective. I guess if you still want to live in this type of society you can move to Russa, China, Cuba etc. Lucky for them they have the US to give them foreign aid. Communism would be dead within a few decades without a capitolistic nation to support it.
- The idea of this book is simple enough: it's Marx's and Engels' concept and plan for a totally fair society where everything is shared and everyone is (supposedly) equal.
The problem is, "...absolute power corrupts absolutely," and when authoritarian dictators implement these ideas it always results in two percent of the people having everything and the remaining ninety-eight percent having nothing.
The core focus of this political persuasion is on "the worker". It evolved from a prior eternity of monarchs dominating the poor and a response to the scourge of serfdom. Ultimately, Lenin used "The Communist Manifesto" as a means of promoting the Russian Revolution which ultimately became the cultural horror which the rest of us came to know as The Soviet Union. In other words, it provided the basis for a ploy on the part of the Bolsheviks (Communist Party).
During the years of Communism, the Soviet workers used to convey a covertly-spoken credo: "We pretend to work and they pretend to pay us". That pretty much sums up how Marx's and Engels' plan played out in actual practice.
Strangely, few people ever make the observation that the ideas of Marx and Engels were not at all original. Thomas More (1478-1535) conveyed almost the same concept when he scribed his famous work: Thomas More's Utopia. In fact, people who have obviously never read "Utopia" would clearly not cite it as "the ideal society" if they were even slightly apprised of the numerous horrors of that fictional society. And so goes "The Communist Manifesto" in actual practice.
Still, this is an incredible, eye-opening read and we SHOULD read it if for no other reason than to see how mans' best-laid plans can easily go awry. Highly recommended.
- Barak Obama is a muslim and this is his way of taking over america with communism .....slavery is commensurate with islam and this book is his means to the end of moving ever faster towards an american islamic caliphate
- This brilliantly written book neatly explains communism in brief, cogent, powerful language. All societies except for primitive tribal ones are built on class struggle. The struggle involves the few exploiting the many for their labor. The social phases of society are scientifically determined and unvarying: first tribal, then feudal, then bourgeois, then proletarian.
The feudal society, ruled by kings and aristocrats, exploits the masses as slaves, serfs, and craftsmen. The bourgeois society overthrows the aristocracy and continues the exploitation of the masses, who are now workers rather than slaves. The workers finally revolt against their bourgeois masters, abolish private property, and put the means of production into the hands of the state.
Marx's simple theory is compelling, sustained by countless historical examples and by his analysis of the relationship between capital and labor. He drives home the point by analyzing the pernicious effects of capital when work becomes a commodity that drives workers into subsistence existence. The world is filled with sweatshops and factories every bit as horrific as the ones Marx described in early 19th Century England, and the common denominator certainly seems to be the limitless desire to concentrate capital in the hands of those individuals and shareholders who control the means of production.
The Kindle introduction to this book points out that it's unfair and impossible to criticize Marx since no society has ever truly implemented his vision of communism. On the other hand, Marx's argument that the proletarian revolution and abolition of private property is inexorable in the developed bourgeois state has not been borne out.
The Communist Manifesto is a quick and compelling read, and a masterful exposition of the principles of communism. It's a shame I waited this long to finally read it.
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Posted in General Economics (Friday, December 5, 2008)
Written by Paul Mladjenovic. By For Dummies.
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5 comments about Stock Investing For Dummies (For Dummies (Business & Personal Finance)).
- This book is fantastic. It covers all the basic fundamentals, provides resources to learn more about every area, and covers every broad aspect of evaluating a company. You learn about company fundamentals, accounting formulas, economic indicators, political signs, trends, and much more. Probably the best beginning book on stock trading I've read, and I have read many.
Not only that, but the author's results speak for themselves. The 1st edition was written in 2005, and he made several predictions, every one of which came true. In the book he mentioned that according to his research silver would be in very high demand in the next few years - then showed the indicators to prove it. Silver then went on to go from $7 to $17 currently, over 30% annual growth. He accurately predicted the internet stock bust in 2001, the housing bust, the rise of silver, the rise of oil, the collapse of financial service companies, and the rise of commodities.
Obviously results alone don't mean anything, but when taken with the strategies he teaches, it's very clear that this guy knows what he's doing.
- I liked the book and thouht it was really good, some stuff I didn't think about was menioned in this book, even though its for Dummies :-)
- It has basiclly very much everything to know about stocks. For newbie like me, I'm glad that I got this book. It shows u from buy to sell stocks and what matters would happen.
- Time is an important asset. Invest your time in this excelent masterpiece, it will be your first good investment of many.
Two considerations:
Specalutors are not welcome here, this is pure investment for dummies. Aggresive tactics only in a conservative macro-enviroment.
Investment could be very hard if you like, but like all things in life, it is best to keep it simple. Paul's book will be always in your hands when your strategies became too complex, heping advanced investors return to the basics.
(Sorry for my english, is not my primary language)
- A very good book. Makes that mysterious 'stock market' less mysterious. Now on to make money with my new found knowledge!
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Posted in General Economics (Friday, December 5, 2008)
Written by Eric Tyson. By Wiley.
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5 comments about Investing For Dummies, Fifth edition.
- I bought this for my daughter, who is taking this a college course.
She seems to be happy with it. She asked for this book it as the instructor told her she needed it for the class. Sorry I can't give you more info but I am sure it's a good book.
Kathy in Las Vegas
- I wanted to start investing and read somewhere you should first do some studies. That's when I came across this book. Very well written, and in simple to understand language. I used to dread 401K, IRA, Mutual Funds, Bonds. Now I am confident I know about them and what I am investing into.
Showed new ways to look at debts, as to if I clear my debt sooner, I am investing in something which gives be interest equal to the interest I pay the bank.
I would recommend this book to all who want to get into investing but are hesitant or don't know where to get information from.
- I've read several "for Dummies" books, and in general the entire series is well written, concise, and gives you what you really need. However, I was very disappointed in this one. The book is really dedicated to the three methods of building wealth: equity (stocks, mutual funds, etc.), real estate, and small business. But there isn't enough info on any of the three subjects to do much with. You're better off getting a separate book on real estate if you plan on pursuing that. And nothing he says regarding small business is of much use to accomplish anything. That leaves stocks, bonds and mutual funds, which is what most users would purchase this book for. Regarding that, if you are completely new to mutual funds then this is the book for you as it will explain the basics. However, if you are beyond the very basics (i.e.; "What is a mutual fund?"), and are looking to seriously invest, then I think you'll be disappointed. And if you are looking to get into buying stocks directly, then this book seriously falls short. The entire section on stocks really just explains a canned stock report from a given company. Utterly useless unless you plan on subscribing to that service. No talk of forward PE's, valuation, etc.. Also, the author's continual insistence that you should stay in mutual funds because you "can't beat the market" since there are so many pros out there is utterly ridiculous. There are many gurus out there that have proven track records of generating higher than average returns. Just emulating Warren Buffet's portfolio will do that.
I was looking for a book to dig more into stock valuation, company analysis, etc. and this book barely even touched on any of that beyond definitions. I wouldn't even call it Finance 101, since there is very little about monetary policy, bonds, interest rates, etc.. If you've picked out at least one mutual fund in your life (or purchased a stock directly), then this book is way too simple. If you tremble at the thought of picking a mutual fund and have no financial sense whatsoever, then this is your book.
- Great book, lays it all out in terms I can understand. I started investing based on this book, and I refer to it often.
- I didn't think reading about money/investing could ever be this fun or interesting. Straight talk and clear definitions for all the finance jargon.
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Posted in General Economics (Friday, December 5, 2008)
Written by Daniel Goleman and Richard E. Boyatzis and Annie McKee. By Harvard Business School Press.
The regular list price is $18.00.
Sells new for $8.45.
There are some available for $5.89.
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5 comments about Primal Leadership: Learning to Lead with Emotional Intelligence.
- I've read a number of leadership books, and Primal Leadership is among the best I've picked up. Goleman and crew outline a well balanced understanding of the different facets of leadership and the important skill of reading and capitalizing on the emotional state of the organization which one leads. This book is filled with numerous stories and cases where the principles advocated for are illustrated quite nicely.
This book is worth your time if you are seeking to develop your own leadership capabilities.
- I ran across this book on a Listamania list that highly recommended this book. While the subject matter is of great interest to me, I felt somewhat disappointed that it didn't deliver in the way I was anticipating. I personally believe that 6 styles of leadership is about 4 more than we need. I also disagree with the styles being interchangeable. Situations may change but great leaders maintain their leadership style. That's one of the reasons why they are great versus mediocre.
While some parts of the book are thought provoking, it does not provide any specifics on constructing an action plan for getting from point A to B. While the authors are well-meaning and did research a lot of data, I believe their academic background got in the way while writing this book.
I hope you find this review helpful. Michael L. Gooch, SPHR - Author of Wingtips with Spurs
- This is the first time I have purchased a CD (audio book). I am doing an MBA and the reading is overwhelming. I felt this would be a break from reading to listening to the book.
Well, what a great choice. This book is an excellent book and the medium for delivery even greater.
I play it over and over again, I have shared it with friends (all are buying theirs)
Very impressive structure and research in this CD book. Goldman proves again that clear sight into people and management of people (including yourself).
- Great book! Can be used to take an assessment of yourself inside and outside of the business world. A must read.
- "Leaders have always played a primordial emotional role [...] Quite simply, in any human group the leader has maximal power to sway everyone's emotions" (5).
Daniel Goleman, author of the bestseller Emotional Intelligence, explores the power of EQ in leadership and shows how we can apply these proven principles to "excel not just through skill and smarts, but by connecting with others" (Cover). Studies of star performers have shown that 85% of the difference in success is attributed to emotional intelligence factors rather than cognitive abilities like IQ or technical abilities. In today's competitive world, the art of relationships is more indispensable than ever.
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Posted in General Economics (Friday, December 5, 2008)
Written by Clayton M. Christensen. By Collins Business.
The regular list price is $17.95.
Sells new for $4.60.
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5 comments about The Innovator's Dilemma: The Revolutionary Book that Will Change the Way You Do Business (Collins Business Essentials).
- With the Innovator's Dilemma, Clayton Christensen delivers a very powerful analysis of the role of innovation in gaining market leadership. The question raised is whether market leadership can be sustained through innovation alone. Indeed, the core of the Innovator's Dilemma illustrates how successful companies with established solutions, marquee customers and a valued brand keep being threatened and at time vanquished by start-ups. A recent example would be how established enterprise software vendors have been shaken up by disruptive startups: Remember Salesforce.com vs. Siebel Systems? Christensen addresses a difficult problem that most successful customer focused companies face. Precisely, because it is a formidable challenge for an established company to bring disrupting technology to its own installed base of customers.
- This book analyzes why established successful companies repeatedly miss "less sensible" (to their own value network) innovations in the low-end "emerging" market and how products in the low end market eventually displace existing products in the entire market. The book does a comprehensive analysis of the phenomena.
However, I am not convinced with the analysis. People make wrong forecasts of trends and miss emerging markets for many reasons. New entrants fail in trial and error with this extremely high risk game. Does it make sense for an established company to maintain an independent unit for playing this high risk game at a considerable expense? Or should they be the follower and let small companies bear the initial high cost ? I don't think there is a clear answer like what the author has suggested.
There are some uncommon and incorrect use of technology terms (e.g. Java "protocol",computer "automated "design), which let you doubt the credibility and seriousness of the author. The writing is in fairly academic style with great clarity. But it can be repetitive in many places, revisiting the same materials.
- OK, I admit, some of it can be a bit boring, especially the first couple of chapters. But the premise and his argument are great.
A product manager who has not read this book is not a product manager at all!
- This book starts by looking at why leading, well-run companies miss the boat when it comes to certain types of key innovations. The author shares 5 principles that are largely responsible-
1. Companies depend on customers and investors for resources
2. Small markets don't solve growth needs of large companies
3. Markets that don't exist can't be analyzed
4. An organization's capabilities define its disabilities
5. Technology supply may not equal market demand
Each of these is a fascinating topic, on which the author provides actionable information. Some may seem somewhat obvious, but the author goes below the surface to illustrate these carefully, even going as far as introducing an organizational capabilities framework to help assess capabilities and hence disabilities.
The author makes the case that the above principles are only indirectly responsible for the stumblings of the large companies. The direct cause was managers not heeding these principles. This is likened to the first aviators not understanding the principles of drag and lift. Once understood and obeyed, those principles allowed for flight.
The book begins with a twenty page introduction that gives many examples of leading firms stumbling badly, and then outlines the basic premise of the book. The first four chapters then show examples with much more details, as well as showing how other theories fail to explain the results. The next five chapters focus individually on each of the principles listed above. That is followed by a case study, applying the principles to how the author would assess and deal with electric vehicles. Finally, the book ends with a summary tying it all together. The book is very clear and well written.
- The great irony here is the astonishing failure rate of apparently successful incumbents.
These so-called great companies do an excellent job responding to their customers' needs. They invest heavily in new technology. They employ the smartest executives. And yet they still get wiped out by upstarts.
That the Innovator's Dilemma is a business book is purely incidental. While the business-related insights in the book are extraordinary, they don't account for its real value.
This book is actually a commentary on human nature itself. It is a case study that affirms the following idea: "success is the mother of complacency," while it utterly explodes the old myth: "if it ain't broke, don't fix it."
This excellent book is a reminder that human beings essentially have two options in life: grow or die. I think Lao Tzu summed it up best when he wrote in the Tao Te Ching, "the hard, the unyielding are death's companion. The weak and pliant belong to life."
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