The World's Best Book Summaries
How did general Pinochet become the President of Chile? What changes did Pinochet implement upon coming to rule? Augusto José Ramón Pinochet Ugarte was a Chilean Army General who became the president of Chile by launching a coup and seizing the country from President Allende. Pinochet was an avid proponent of the neoliberal ideas of the Chicago School of Economics. In this article, we’ll discuss Pinochet’s instrumental role in implementing them in Chile.
What was the 1997 Financial Crisis? Which countries were affected? The 1997 Financial Crisis that hit many Asian countries significantly affected their economies given the momentum, extent, and vitality under which the meltdown occurred. The crisis greatly affected various nations including South Korea and other Asian Tigers. In this article, you’ll learn how the 1997 Financial Crisis started, and what happened in its aftermath.
How did South Africa become a neoliberal economy? How has neoliberalism affected post-apartheid South Africa? Post-apartheid South Africa was tricked into embracing neoliberalism. The ANC didn’t see the trap until it was far too late. With their energy focused on winning Parliament, they accepted neoliberal economic compromises that would make realizing their goals impossible. In this article, you’ll learn about the arrival of neoliberalism in South Africa,
Are you a responsible spender? Or do you often find yourself wondering where your money actually goes? Does your credit card bill often come as a surprise? Most people are guilty of having no idea where their money goes or how much they’re spending on different things. As a result, they’re constantly feeling guilty about spending money because they don’t actually know how much money they have to spend, so each purchase could mean a nasty surprise on that month’s credit card bill. In this article, you’ll learn about mindful spending and how you can spend even more than you
What is Naomi Klein’s The Shock Doctrine about? How does Klein define “disaster capitalism”? The Shock Doctrine, by Naomi Klein, is a study of the history of economic shock therapy, which is a method of (supposedly) boosting a country’s economy through rapid deregulation, privatization, and severe cuts to government spending. It also examines how economic shock therapy gave rise to what Klein calls the disaster capitalism complex: a privatized system of destruction and reconstruction that funnels billions of dollars into corporate pockets. Below is a brief overview of the key takeaways.
What was the role of the ANC in South Africa? Why was the ANC resisting the National Party? In 1955, South Africa was ruled by the white supremacist National Party. That year, the African National Congress (ANC)—which, despite its name, is a political party rather than a congress—began fighting in earnest against their oppressive rule. Learn how the ANC party started the liberation movement against apartheid.
When did Boris Yeltsin come to rule in Russia? What changes did he implement upon taking office? Yeltsin ousted Gorbachev and dissolved the Soviet Union in 1991. Most Russians had never known life without the Soviet Union, and its sudden dissolution came as a huge shock. Here is what happened to Russia during Yeltsin’s rule.
What is the difference between stocks and bonds? How do they generate profit for investors? The main difference between stocks and bonds is how they generate income for investors. Stocks do so by growing in value over time—they are later sold in the stock market. In contrast, bonds pay back your money plus interest over a specified period of time. In this article, we’ll explain the basics of investing in stocks versus bonds, how they work, and what their associated risks are.
What exactly is an index fund? How do index funds differ from other mutual funds? An index fund is a type of mutual fund containing stocks chosen to replicate the market’s performance. In contrast, actively managed mutual funds are stocks chosen and managed by professionals who attempt to outperform the market. Here is why you should invest in index funds.
What are assets in the context of investing? What are the three main types of asset classes? Asset classes are the building blocks of investing. Asset classes are simply types of investments (like stocks or bonds), and each asset class has varied assets within it. For example, “stocks” is an asset class composed of all kinds of different stocks: large companies, small companies, international companies, and so on. In this article, you’ll learn about the three main types of asset classes and how to allocate and diversify your investments between them based on your age and risk tolerance.