5 comments about The Great Depression of Debt: Survival Techniques for Every Investor.

1. What a cop out! Now that his 2007-2020 Second Great Depression has failed to materialize with 2008 2/3rds over, it is being repackaged as a newly titled "debt" book. A warm welcome Warren to the rather full club of authors who predicted disaster on a timeframe that didn't happen. You failed simply because you ignored the greatest force in the economy - the consumer. Every economist knows that the GDP is made up 90%+ by consumer spending - 60-70% directly plus government spending of the 28% of income they take in taxes. In other words GDP is ALWAYS driven by demographics over the longterm. There IS a monstrous crisis coming based on demographics however - go read Arnold's The Great Bust Ahead (published 2002), in which all his predictions have come to pass so far and the "big one" left is yet to come on his 2010-2012 schedule.



2. With all of the doom and gloom in our financial markets, I wanted to take in a few authors opinions and try and come to my own conclusion. (Cramer is not my fortune teller) With that said, the author lays out a lot of the structural problems in the financial industry and predicts what he think will become of it. He has updated the original version to include some of the latest information as well gloat (rightfully so) over being right on about 80% of his predictions.
   
   The more I read the book and realize that this guy has been quite accurate, the more I realize how dire our financial system is and how close to collapse we are. I applaud the author for his predictions but am not happy with his predictions for the future. So far, the best and most accurate doom and gloom book I've read.



3. One would expect a substantial number of facts and figures with a work like this. But in the opinion of this reviewer, the preponderence of same actually bogged this vital book down. Not for the average reader who lacks a basic understanding of economics. An aptitude for mathematics would also help someone to digest this material.



4. This book provided some interesting ideas about the future of the stock market. How much of it is valid, though? I have to admit that even with the stock market plummeting over the past two weeks, I still think this book's premise is a little shaky. After all, the author discounts other books that attempt to predict where the indices should be and claims they're simply data mining or are based on flawed concepts. In this book, the author tells a good story, but I'm not wholly convinced it's anything more than data mining with a good story.
   
   The second half of the book is unbearable, and I'm a guy who loves to analyze investments and do what-if calculations. It's filled with table after table, with repetitive information in between each set of tables. Why didn't the author keep the chapters simple and put the tables in an appendix?
   
   This book is in its second edition. I didn't read the first edition, but as the author claims in the introduction, the second edition contains the first edition text with second edition updates following each chapter. What's really disappointing is the minimal amount of content in these "updates." The charts aren't updated, the tables aren't updated, and the author doesn't even provide new sets of numbers in most cases. If I had purchased the first edition and then bought this one for an update, I would have been very unhappy.
   
   The book also suffers from HORRIBLE grammar. When describing changes to the second edition, the author says the first edition text has been corrected for grammar. I shudder to think about how poorly written the first edition must have been. (Or should I say that I shutter to think what the affect of the writing in the first addition would have had on me. In the author's credit, though, the primary grammatical error is using affect to describe effects.)
   
   I might have given this book four stars if it had been more carefully written, concise, and been more than just a simple story with a bunch of data mining. Moving the tables to the appendix would have helped, too. As it actual is, though, I give it two stars. It has some interesting parts, but a lot of it is a lot of content for only a little value. Grab the book from the library and save your money for the depression it says is coming.



5. The book was spot on regarding the current stock market meltdown. However, his advice to buy Treasury Inflation Protected Securities instead of stocks has not proven correct. So far his advice to buy TIPS has produced poor- in fact negativeinvestment results. And if there is in fact a deflationary period ahead, taking his advice on TIPS may end up costing you as much as listening to that moron Jim Cramer who told us to buy Google at 800, FCX at 80, COG at 40, and other HORRIBLE picks. But at least he correctly saw the current stock market meltdown, something all the cnbc experts didn't. Good book.[..]

4 comments about The Machine That Changed the World: The Story of Lean Production-- Toyota's Secret Weapon in the Global Car Wars That Is Now Revolutionizing World Industry.

1. The Machine That Changed the World and the subsequent articles that Mr. Womack has written for the Wall Street Journal almost make him look like a shill for Toyota. This book either omits or minimizes the importance of developments that lead Toyota to the Toyota Production System. I expected a more independent and intellectually honest viewpoint because Mr. Womack passes himself off as a top academic.



2. Just an excellent research effort -- one of best I've read -- I'd compare with Jim Collins Good/Great and Built to Last work. I'd recommend...



3. I have read a lot of the so called quality books, and have a master's degree in the field, and I have found few books that had this kind of relevance to how things are produced and why they work or don't work. More importantly, this is one of the few 'academic studies' (I recall this one came out of MIT) that is actually clearly written and straightforward.
   
   Yes, Toyota is much of the focus in this book and it can sometimes seem to border on the PR level, but that doesn't take away from the information in this book. Having had access to most of the auto manufacturers when this study was done, and seeing the nuts and bolts, it is what people do wrong at other places that is as important as what Toyota had been doing right (a trend, I might add, that in recent years has dimmed, Toyota has had embarassing quality faults recently). The book does mention that what Toyota "pioneered" was not entirely homegrown, many of the techniques existed, but Toyota was unique in the auto world in the number of things they chose to adopt (as a counterpoint, when the 70's hit and the US auto makers started having real competition, they hired Dr. Edwards Demming as a consultant, he told them many of the things that this book points out and they basically paid the check, used it for PR about how they were serious, and ignored him).
   
   And these are not new issues and continue to plague companies, fallacies like:
   
   1)"It is the fault of the labor force"..while the UAW has not exactly been cutting edge, what this book points out is something known in quality circles for years, that most of the problems are using your labor force badly, not listening to them, and just plain bad management.
   
   2)"The secret is robotics"..GM under good ole Roger Smith spent umpteen billions of dollars on robots, and their cars were still crap (and even better, when GM and Toyota did a joint factory in California in around 1980, they discovered that the most hi tech thing in the plant was a secretary's typewriter)
   
   3)"Cheap Labor"....nuff said about that
   
   4)"We could build as good a car as them (meaning Toyota, Nissan, etc) if we built only a few models". Problem? Toyota had more product lines then any of the big 3 at the time.
   
   5)"We have team labor".....on the surface, yes, but when looked at you find the same old hierarchical management and decisions made by beancounters.
   
   There are a lot of lessons to be learned in this book, and some surprises (anyone wanna know why Benz bought Chrysler? Benz production capability is one of the lousiest in the world as written about in this book, and I hear it isn't much better today).
   
   One of the things that this book teaches is that a lot of the cost of vehicles is based in bad design, poor management and in an attitude that problems, no matter how small, can be overlooked. People are asking how developed countries can compete with third world labor, this tells how.



4. Lean production (now frequently called Lean manufacturing) has melded into several industries here in the United States, but back when this book was written, it was just catching on. I read the book in 2000. Many of the concepts are still worthwhile in this book, both for the historical significance as well as the lean ideas presented.
   
   The Machine that Changed the World is a fascinating book that teaches what the Japanese learned and how to apply their ideas to the US auto market. Competition is always tough, but these tools provides a competitive advantage to those companies who embrace them and make them part of doing business. Not all ideas are applicable to every application, but there are plenty of diamonds to be farmed here.
   
   Well trained employees, a commitment to excellence by everyone (from the janitor to the CEO), teamwork, flexibility of skill sets, and learning lessons from successes and failures are all important elements of lean manufacturing. Setting up manufacturing lines efficiently, working closely with suppliers, line smoothing, encouraging innovative and cost saving suggestions and much more are also critical lean concepts.
   
   Lean manufacturing doesn't happen overnight and a company and its employees must be diligent in their efforts to put high quality products at reasonable prices out the door.
   
   The Machine that Changed the World is highly rated by many people and should be. It has timeless ideas to produce higher quality products and recommends never being completely satisfied. Well written and researched, this is a top notch book!
   
   The Re-Discovery of Common Sense: A Guide to: The Lost Art of Critical Thinking

5 comments about Kiss, Bow, or Shake Hands (The Bestselling Guide to Doing Business in More than 60 Countries).

1. This was a recommendation and I have found it to be very helpful. Use it as a general reference only but it is nice to have a little insight to the different cultures.



2. With all the international trade and travel to and from foreign countries this book prepares all people in the cultures and foreign courtesies
   each of us should at least have an idea of. Most foreigners appreciate even the most small recognition that we can expend toward their culture and practices even if we make small blunders in doing so - it shows we are aware that there are differences in cultures and we are at least trying to show respect for theirs'.



3. the book serves as a source of information for leadership and managers in global perspective



4. Well composed and useful book for those traveling abroad as well for seeking additional knowledge on the cultural experiences of different countries.



5. I think this a great and intersting book. It is a great help for international buisness. Although it took three weeks to get a book from someone located in the same state as me. It shouldn't have taken so long, i needed it for a class.

5 comments about Why We Want You to Be Rich: Two Men - One Message.

1. This is an awesome book and I highly recommend it no matter what business you are in or what walk of life you come from...........



2. These two men really opened my eyes. There is a difference in working for money and letting money work for you.



3. basically Donald used Robert to sell his book. if you check how many books Robert has sold and how many Donald,you would know what is going on.Donald trump is a businessman but Robert kiyosaki is genius.I've read several books which was written by Donald trump and the only thing i learned is the name of his project all over the world.but look at Robert's books,its amazing.if you buy this book i recommend you read only Robert's paragraph.



4. Not good. Kyosaki comments, Trump agrees, they praise each other and thats the pattern of the book. Junk.



5. So far this book is telling you to become rich or stay where you are and either stay poor or become poor because the world will pass you by as times get worse. My problem/question is if everyone is hurting for money who will buy your products, service or real esate if there are few jobs and less money or the dollar is worth less? Robert and Donald I guess are above needing money they are so rich.
   
   Over all how can you stay rich once you become rich if you can not sell you product or service, or rent out you real estate? To prepare for what is coming I would read books on prepardness. Maybe by getting riich fast you will have the money to prepare but after things get bad what do you do if all you have is a broken business, a apartment complex that no one can afford to rent and worse you can collect from the squaters there or get them out and your millions in the bank can't buy food?
   
   My advice is to do both, make as much money as you can but buy things that will ensure your survival. Both men talk about education in the business and money world. Well if both fall apart only those that know how to hunt, farm, fish and fight will survive.
   Ric
   
   This book tells a good story of what may be coming and how to prepapre for it.
   Patriots: Surviving the Coming Collapse: A Novel of the Turbulent near Future

5 comments about Cultures and Organizations: Software of the Mind.

1. Having just survived a merger of two companies, I was searching to find the right words to explain the differences in cultures I was experiencing. Although this book focuses on national cultures, I found the explanations of the dimensions of culture and how they manifest themselves in different behaviors appropriate for corporate situations. The last few chapters deal explicitly with corporate culture, but I found these chapters less insightful than the others. The book is very well written and organized, with tables summarizing key concepts and entertaining anecdotes to illustrate the points. Because I've traveled internationally for business, I was familiar with other works on culture, but none were as helpful as this book. I now have the vocabulary to articulate the differences I see.



2. As a combat tested USAF E3 AWACS command pilot (over 1900+ hours of total flight experience), this book is a potent resource for anyone seeking to gain insights on how best to manage a multicultural / multinational workspace.



3. A must-read for anyone interested in the subject area.
   
   The new and revised content also relate Hofstede's original groundbreaking research to the more recent work of other renowned scholars in the field (such as Ronald Inglehart of the Univ of Michigan and the World Values Survery). These links make his work even more compelling and make you start to think that we may be inching closer to a more universally agreed upon framework for thinking about cultural differences.



4. an indepth description of the mental programming of human. worth buying. but it is expensive for me, especially the courier.



5. The greatest value that comes out of this book is the ability to articulate exactly what we mean by culture, what are its various dimensions, & how a culture is manifest at the macro or national level- while stressing every now & then to separate a national culture from the individual value system of its citizens.
   
   The first seven chapters elucidate on the meaning of culture, its dimensions, & the comparative scores of various different countries in each of these dimensions - what these scores mean in terms of the family, school, workplace, the state, & ideas. This consistent structure gives the reader a very nuanced point of view on different cultures & the way they manifest. In the latter chapters, Hofstede also considers scores on two cultural dimensions & explains the combined effect of these as a whole.
   
   Chapter 8 does a great job of differentiating Organizational cultures from National ones & clearly articulates that values do not differ across organizations in the same country; what differs are the practices these values translate into. The book did not have as extensive research on Organizational cultures, but manages to establish what is, or should be, understood by Organizational cultures. And it also has interesting notes on how some of these Organizational culture dimensions corelate with national culture dimensions.
   
   The final two chapters are notes on implications of these differences & the elements of culture shock & how to go about handling these at the level of family, school, etc.
   
   So while this was one of the great books I read this year, I still think that the title of book is misleading - for organizational cultures is not the mainstay of the book; national culture is.
   
   But Hofstede's very organized & structured prose adds a great deal to a very intangible soft topic like culture. I think I understand the world a little more having read this book & can try to differentiate the broad national culture traits in the people I work with from their own individual value systems.

5 comments about The Forex Trading Course: A Self-Study Guide To Becoming a Successful Currency Trader (Wiley Trading).

1. Nothing new or great here. If your just getting started this book will help with the basics. The part about system development is very sparse (essentially just says use ms excel for backtesting). Overall I felt fleeced paying retail for this at B&N.



2. I have purchased and read most of the recent books related to Trading Forex. I would place Abe Cofnas' newly released "The Forex Trading Course: A Self-Study Guide to Becoming a Successful Currency Trader" at the top of the list of books to purchase. The author covers the basics of trading: Fundamentals and Technical Analysis in a very in-depth level. However, I feel what sets this book apart from others are discussions of Advanced Strategies (e.g., Renko scalp setup and Pattern Recognition).
   
   This book is a Must Read!
   
   John Echternacht



3. For those of you, like me, who actually want to learn to trade forex and don't know where to start, this is the book to buy. I reviewed lots of others, was disappointed that they either spent most of the book shilling a particular book/system/company, or else they gave a high-level overview of everything in the forex universe, but not much in the way of how-to's. This book's different. The first part explains how/which economic factors affect currency markets; the next section tells you about technical analysis and which/why/how to use it, and also talks a little about strategies. The third part is called "Putting It Together" -- here's where this book really stands out: he explains how to get started, how to do test trades, how to gauge your results, putting on different kinds of trades so that you can compare which worked better, etc. etc. Included is a spreadsheet following one trader's journey from inept beginner to knowledgeable forex trader. He talks about how to trade different size accounts. He talks about determining your trading style and best strategies to use whichever style you select. Note that each subject area is explained with enough detail that you can get started, right now, as you read. But if you want more information (as do I), he tells you where to look. This book is just great. I highly recommend it.



4. This is a great book. It filled in a lot of the missing info that new forex traders are missing in their everyday trading. This book has a nice mix of technical and the fundimentals that are missing in a lot of other author's books. This book should be in every new trader's library.



5. At the outset, let me say that I am definitely at the beginner level with regard to the trading of currencies on forex, but I do feel that I learned a lot after reading this book.
   
   The most important lesson that I took away is that the novice trader needs to spend a heck of a lot of time trying different strategies risking very small amounts of money before before diving in and putting significant amounts at risk. Although there is nothing wrong with learning to trade with a practice account, the authors says that you shouldn't begin with a practice account holding $50,000 or more and then trying to trade $100,000 lots using large amounts of leverage, even if you might be fortunate to have that much money with which to fund your initial real account.
   
   Prior to reading this book I would have assumed that I would always be trying to earn at least 50 or more pips a trade, however this author teaches that there is nothing wrong with simply trying to get a string of wins of only 10 pips at a time until you have a solid record of consistency that would justify going for larger returns. As a novice, I will certainly take his advice to heart and would recommend this book to anyone else who is not already a veteran currency trader.

5 comments about The Wealth of Networks: How Social Production Transforms Markets and Freedom.

1. I first became familiar with Benkler after reading his paper, "Coase's Penguin" in undergraduate study. I was delighted to hear of the publication of this book. Benkler continues beautifully where he left off in his previous papers and synthesizes an excellent theory of social production in his book.
   
   Benkler begins by describing the economic shape of information - it's non-rival and builds upon itself. He explains the challenges that face information, particularly the Babel Objection. Benkler also covers some legal background on aspects of a "liberal society", such as the role of commons versus private property.
   
   From there, he makes his way into peer production. He touches different aspects of this type of production, from open source to distributed content production & filtering (click workers) to the results of the FCC's shift towards commons-based wireless policy. I found chapter 4, where he connects social production to the economic concepts discussed earlier, to be the most interesting chapter of the book.
   
   He moves on to a lengthy discussion of the political effects of network distribution and social production, including a summary of the history of mass media and predictions about the future. From there, he lays down his argument that we ought to continue to encourage open networks and information sharing. He presents a discussion on current legislation and legal challenges to information and provides some examples of solutions.
   
   I read this book coming out of an undergraduate program in Information Science and wished I had read this book perhaps my sophomore or junior year. Benkler essentially lays out, in linear form, the precise message that my professors were teaching. Because of networks, information science in the 21st century will not follow the traditional industrial-style of distribution but rather a distributed and non-proprietary model. Its impact is phenomenal, not only in the realm of economics and science but politics, culture, and interpersonal communication.
   
   This book ought to be required reading for every undergraduate student studying Telecommunications, Media, or Information Science.



2. I have been hearing about Yochai Benkler's book, "The Wealth of Networks: How Social Production Transforms Markets and Freedoms," for some time and his exposition around what he (and many others) have called the "networked information economy." Benkler, a Yale law professor, also offers his 527 page (473 in text) book as a free PDF from his web site under a Creative Commons share alike license.
   
   First, let me say, there are a couple of worthwhile insights in the book, which I'll get to in a moment. But mostly, I found the book overly long, often off-subject, and too political for my tastes. In fairness, some of this might be due to the fact it was written in 2005 (published in 2006) and the social and participatory aspects of the Web are now widely appreciated. Yet I fear the broader problem with this polemic is that it proves the adage that you see what you look for.
   
   Benkler's argument is that cheap processors and the Internet have removed the physical constraints on effective information production. This is in keeping with the non-proprietary nature of information as a "nonrival" good, and is also leading to the democratization of information production and the emergence of large-scale peer-produced content. Benkler generally allies himself with the camp of technology optimists. His observations about trends and new developments from Ebay to Wikipedia to SETI@home and open source software are now commonly appreciated.
   
   With the costs of information duplication and dissemination trending to zero, the limiting factor of production becomes human creativity and effort itself. But here, too, with hundreds of millions of Internet users, just a few hours of contributed content from each can easily swamp the ability of even the largest firms to compete. These trends to Benkler presage a "radical decentralization" of information production, and many other changes to the political economy and culture.
   
   That radical changes in the nature of information production and authorship and even the role of traditional publishers or the media are underway is without question. Purposeful collaborations like Wikipedia are now clearly successful and were not forecasted by many.
   
   The lens, however, in which Benkler looks at all of these trends is through the "modern" history of the mass media. Citing Paul Starr's "Creation of the Media," he notes how in 15 years from 1835 to 1850 the cost of setting up a mass-circulation paper increased from $10,000 to over $2 million (in 2005 dollars). In Benkler's view, these cost increases shifted the ability to publish away from the common citizen into the "problem" hands of the mass media. Fortunately, now with the Internet and cheap processors, this evil can be reversed. Though Benkler specifically disclaims that he is not describing "an exercise in pastoral utopianism," the fact is that is exactly what he is describing.
   
   There can be no doubt that the role of mass media and traditional publishers is under severe challenge from the emergence of the Internet. It is also the case that we are witnessing citizen publishers and authors emerge by the millions. These changes are momentous, but they do not involve everyone -- only comparatively small percentages of Internet users blog and still smaller percentages contribute to Wikipedia (about 80,000 at present based on a user base of hundreds of millions). And, as the traditional gatekeepers of printers, publishers and editors lose prominence, new institutions and mechanisms for establishing the authoritativeness and trustworthiness of content will surely need to evolve.
   
   These real trends deserve thoughtful exploration.
   
   However, there is a reason that publishing costs increased so rapidly in that era of the 1800s. Mass publishing and pulp paper were emerging that acted to bring an increasing storehouse of content and information to the public at levels never before seen.
   
   The explosion of information content that occurred at this very same time correlates well with the fundamental historical changes in human wealth and economic growth. Though mass media may prove to be an historical artifact, I would argue that its role in bringing literacy and information to the "masses" was generally an unalloyed good and the basis for an improvement in economic well being the likes of which had never been seen.
   
   By taking a narrow historical horizon and then viewing it through the lens of the vilified "mass media," Benkler is both looking in the wrong direction and missing the point.
   
   The information by which the means to produce and disseminate information itself is changing and growing. These changes in information infrastructure support an inexorable trend to more adaptability, more wealth and more participation. What we are seeing now with the Internet is but a natural continuation of that trend. The "mass media" and the costs of information production of the 1800s was a natural phase within this longer, historical trend. The multiplier effect of information itself will continue to empower and strengthen the individual, not in spite of mass media or any other ideologically based viewpoint but due to the freeing and adaptive benefits of information itself. Information is the natural antidote to entropy and, longer term, to the concentrations of wealth and power.
   
   By trying to push the trends of the Internet through the false needle's eye of political economics, an effort that Benkler also erroneously makes with his earlier analysis of the growth of radio, what are in essence historical forces of almost informational or technological determinism are falsely presented as matters of political choice. Hogwash.
   
   Benkler, however, does observe two useful dimensions for measuring social collaboration efforts: modularity and granularity. By modularity, Benkler means "a property of a project that describes the extent to which it can be broken down into smaller components, or modules, that can be independently produced before they are assembled into a whole." By granularity, Benkler means "the size of the modules, in terms of the time and effort that an individual must invest in producing them."
   
   Benkler's insight is that "the number of people who can, in principle, participate in a project is therefore inversely related to the size of the smallest scale contribution necessary to produce a usable module. The granularity of the modules therefore sets the smallest possible individual investment necessary to participate in a project. If this investment is sufficiently low, then incentives" for producing that component of a modular project can be of trivial magnitude. Most importantly for our purposes of understanding the rising role of nonmarket production, the time can be drawn from the excess time we normally dedicate to having fun and participating in social interactions."
   
   To illustrate this effect of granularity, he contrasts Wikipedia with its simple entries and editing and bounded topics with the far-less successful Wikibooks, which has much larger granularity.
   
   Creators of social collaboration sites are advised to keep granularity small to encourage broader contributions, and if the nature of the site is complex, to increase the number of its modules. Of course, none of this guarantees the magic or timing that also lie behind the most successful sites!
   
   I think that Benkler's arguments could have been more effectively distilled into a 30-page article, with much of the political economy claptrap thrown out. The book is definitely worth a skim.



3. A great book, even though it took Amazon nearly a month to send me the book.
   
   An optimistic look at the ways online networks can better our society by strengthening democracy and creating more equality. A little dry in places, but an excellent resource for understanding how the Internet fits into the global economy.



4. This work was assigned in my last semester of law school. For the most part, I (like many others) did not see the worth in law school other than to become a good lawyer and make money. After reading this book, I feel all of the previous courses that I took in law school (mainly the IP ones) have more value.
   
   I would recommend this work to anyone wanting to see how copyright and patent laws effect/interact with society and culture beyond the "incentive theory" that is the primary focus of most copyright and patent law courses.



5. "How Social Production Transforms Markets and Freedom" is an apt subheading for "The Wealth of Networks" by Yochai Benkler. The book encompasses topics as broad as the name suggests.
   
   The five-hundred page book provides a sweeping take on networks, covering nearly everything from the history of radio to the future of information law and policy. The dense Introduction may take readers several days to wade through, but offers the core messages of the book, compacted into twenty-eight pages. After breaking further into the book, the weight is lifted as the author's ideas are presented more freely, with space dedicated to supplementary explanations and examples.
   
   The Wealth of Networks is a book worth reading and provides a respectable overview of many topics, with an array of perspectives to consider. Benkler presents his viewpoints nicely. A few points of contention for the reader can be seen in occasionally repetitious or presumptuous statements that break the flow of reading. In addition, the stand-alone style of each chapter is suggestive of a lesson plan for teachers.
   
   To his credit, Benkler does well to ensure that his stance on each issue is quite clear; it is evident that he is a liberal proponent of freedoms and rights: "Freedom--the freedom to speak, but also to be free from manipulation and to be cognizant of many and diverse options--inheres in this (networked environment) radically greater diversity of information, knowledge, and culture through which to understand the world and imagine how one could be" (p. 168). "The increasing feasibility of nonmarket, nonproprietary production of information, knowledge, and culture, and of communications and computation capacity holds the promise of increasing the degree of autonomy for individuals in the networked information economy" (p. 174).
   
   Despite pushing the agenda of his own political lens, Benkler does a fair job of offering both sides of his arguments. He does not just force his ideas on his reader, but rather gives an analysis of opposing views in order to prove why he believes his points ought to prevail. For example, on page 233, Benkler clearly outlines the five basic critiques about the Internet as a tool for democratization, and proceeds on page 237 with: "The remainder of this chapter is devoted to responding to these critiques, providing a defense of the claim that the Internet can contribute to a more attractive liberal public sphere." On page 271 he responds with a diplomatic answer to the critiques: "The first generation of statements that the Internet democratizes was correct but imprecise." He continues with: "The network allows all citizens to change their relationship to the public sphere. They no longer need be consumers and passive spectators. They can become creators and primary subjects. It is in this sense that the Internet democratizes."(p. 272).
   
   With ideas repeated throughout the book, each chapter could stand alone - a benefit to an instructor looking to teach just one portion of the book. However, from a leisure reader's perspective, such redundancies can interrupt the flow of reading. For example, Chapter 6, page 199, states "The Sinclair Broadcast Group is one of the largest owners of television broadcast stations in the United States" and Chapter 7, page 220, states "Sinclair, which owns major television stations..." Such repetitions may cause readers to feel disoriented and pause to determine if they are accidentally re-reading a chapter, because the ideas were recently addressed and are still top-of-mind. This repetitive manner makes the chapters ideal for teachers who may want to teach just one section; otherwise, the repetition disrupts the flow of the book.
   
   Another disruption to the flow of reading is Benkler's occasional use of broad or all-assuming statements. Despite his qualitative examples, Benkler sometimes uses statements that seem unfounded, or too general to be stated in the factual manner he uses. Benkler's "universals" may cause a reader to pause in order to consider the validity of such statements, and question what research or qualifications led Benkler to make such assertions. The following three sentences offer examples.
   
   First: "The rise of global information economic structures and relationships affect human beings everywhere" (p. 19). Second: "This causes the person offered the money either to believe the offerer, and thereby lose self-esteem and reduce effort, or to resent him and resist the offer" (p. 94). Third: "The practice of producing culture makes us all more sophisticated readers, viewers, and listeners, as well as more engaged makers" (p. 275).
   
   These definitive statements about "human beings everywhere," the instigators of personal resentment and self-esteem, and conditions that "make us all more sophisticated" are presumptuous and unsupported. The accumulation of such unfounded "facts" may cause readers to pause, thereby breaking the flow of reading.
   
   In conclusion, despite the foregoing shortcomings of some statements and structure, The Wealth of Networks is a work worth reading. Benkler offers insights into a broad range of topics and makes his points by presenting opposing views, thus providing readers with both sides of the issue at hand. I would recommend this book, but forewarn readers that it can be a lengthy read at times.

No comments about The Coming First World Debt Crisis.

5 comments about Bear-Trap: The Fall of Bear Stearns and the Panic of 2008.

1. The book is very well written. Contents and events are explained in a manner that is very approachable for the non finance professional. The book gives you a very good blow by blow account of what it is like to be in the trenches of a financial institution that is about to fail.



2. Nothing new here. If one read the papers, he would be as informed as after finishing the book. Moreover, the author wants us to understand how intellectual he is by presenting historical facts which for the most part are irrelevant. And the whole discourse on being a "tragic hero" is just pitiful. I am not sure where the author is now, but I think he should stick to trading derivatives!



3. Now more than ever this book should be required reading in every American High School. Prior to reading this book listening to business commentary was like listening to a square dance mc. In a square dance everyone seems to know just what to do, and when to move, but for me, a native new yorker, it's just jibberish. So I was worried when i picked up this book that I wouldn't be able to understand what the hell the author was talking about. But was I wrong! The author did an exceptional job explaining to me, a person who never took a class in business, how an investment bank works. Now I know what leverage is and what hostile takeovers are, and now when i watch business news and they they talk about CDOs, and LIBOR, and basis points, I know what they are talking about. The author also did an exception job explaining exactly what a sub prime mortgage is, and I know that a lot of Americans hear this word every day, and don't really know what they are and how they helped cause a lot of the problems that are occurring today. So to all my fellow Americans you must go out and read this book, now more than ever it's imperitive that we learn about the basics of banking so we can make informed decisions about our economy, and dance to the rewards



4. This book provides a step by step account of life on the trading floor and
   it gives good insight into what happened to this powerful company.
   I believe the author did an excellent job of describing the mood of
   everyone involved and was written in a way almost everyone could understand.
   I was somewhat familiar with what was happening however this definetly
   added a good amount of first hand insight.
   Overall I found this to be a good read that helped increase understanding
   of why things came crashing down.



5. My heart goes out to everyone at Bear, and the author here was first to get a book on this topic off the press. Unfortunately, it was written from the perspective of an "unconnected observer" of the events, and therefore lacks any credibility regarding "providing an insiders account". I got more info from reading the Financial Times than this book. It also shows the speed to rush this to the press because the number of typos in the book actually compelled me to return it to Amazon for a refund, aside from the fact that 80% of the way through the book, I still haven't read a single thing worth my dime. Why did I give 2 starts instead of 1? Because this author got the book out first. That deserves some recognition.

5 comments about Limits to Growth: The 30-Year Update.

1. I read today yet another reassuring news article saying that supplies of crude oil and other vital resources are just fine, no reason to worry. "Limits to Growth" shows that's just not true. Supplies may be adequate for today's needs--but with human population growing all the time, pollution adding up, and soil fertility declining, that can change very fast. In fact, a serious economic collapse is very likely in the next twenty years unless humanity changes course.
   
   Environmental economics has been an interest of mine for years. I didn't bother to read this book when it came out, figuring that it would have little that I didn't already know. Reading it now, I found that "Limits to Growth" is a fantastic book explaining the economics of sustainability. I recommend it to everyone. Mainstream economists in particular--even if you disagree, you owe it to society to read this book. If you think the authors got it wrong, please explain what variables their computer model missed and why. I actually felt that for many of their variables, the authors' assumptions were, if anything, overly optimistic.
   
   Some of my favorite quotes from the book:
   
   "In most World3 runs . . . the world system does not totally run out of land or food or resources or pollution absorption capability. What it runs out of is the ability to cope. . . .[Problem-solving capabilities] can process and handle just so much. when problems arise exponentially and in multiples, problems that could theoretically be dealt with one by one can overwhelm the ability to cope."
   
   "To be materially and energetically sustainable, the economy's throughputs would have to meet Herman Daly's three conditions: Its rates of use of renewable resources do not exceed their rates of regeneration. Its rates of use of nonrenewable resources do not exceed the rate at which sustainable renewable substitues are developed. Its rates of pollution emission do not exceed the assimilative capacity of the environment."
   
   "Because of delays in the feedback from limits, the global economic system is likely to overshoot its sustainable levels. Indeed, for many sources and sinks important to the world economy, overshoot has already occurred. Technology and markets operate only on imperfect information and with delay. Thus, they can enhance the economy's tendency to overshoot."
   
   The book does have a few things I don't agree with. The authors describe nitrogen pollution from fertilizer drainage off agricultural land as too dispersed to be reduced by ordinary pollution controls. This is simply not the case. Fertilizer is as much a point source pollution as any. The point is simply the nozzle filling the fertilizer container at the factory. This is the point at which fertilizer releases must be controlled. Fertilizer releases should be considered under law as if they are released into the environment at the nozzle point, because in effect they are.



2. 30 years ago these same people predicted devastation and havoc by today. They got teachers and professors to buy the book in bulk, making the authors wildly successful. But the conclusions proved hilariously wrong.
   
   Now they want another generation of students to be forced to buy this joke of a book to make the authors even wealthier as they predict--yet again!--planetary doom.
   
   This is a disgrace and should give pause to all those well-meaning people who tend to believe 'climate change' alarmists. They lied 30 years ago. Why believe them now?



3. Maybe the last version. Not much different from the 20-year update, but interesting to see how reports and outlook has changed since 1970.



4. Main points are these:
   - People normally use only cause-effect associations (input - output models).
   
   - They need to understand that the effect can "send a message" to the input, and this can only be viewed using dynamic models.
   
   - They do not think that all exponential process are terminated by
   the activation of strong negative limiting feedback forces.
   
   
   - The first edition was wrong and this edition will be wrong concerning the timing of the events because:
   1) no one knows who will play the game (China phenomenon for example would be thought as an "impossible" event viewed from 1972 perspective)
   Notice however that venerated Yellow River has received a very large pollution charge in these "growth" years.
   
   2) It is very difficult (impossible) to set accurate parameters for the model.
   
   
   
   
   But the MAIN point is:
   The conclusions (although the timing is not precise) are true, or have a high probability of occur, so that, as the credit growth busted, the pollution growth and the end of natural resources can spoil the world.
   
   In this case, we will not be able to borrow pure water, pure air, and food etc... from GOD or from a Natural Resources Central Bank.
   
   ------------------------------------------
   
   PS: So that the only way to not spoil the world is to control several key
   parameters (population growth, natural resources usage, pollution etc...) and some are interdependent.



5. This is a book that tells us what lies ahead of us and what we need to do. It could save the world from a collapse, if our policy makers and ourselves could get a good understanding of what the authors tried to say, and make necessary changes accordingly. In my opinion this book should be everyine's text book if we don't want our children to suffer too much. Too many people focus on making more money to satisfy our greed, and ignore the great danger that is quickly approaching us.