The World's Best Book Summaries
Why do people donate to charity? Do they truly care about the cause—or just how they look to others? In The Elephant in the Brain, Kevin Simler and Robin Hanson argue that charity isn’t just about helping others—it’s also about showing off how compassionate and benevolent you are. This is part of their general argument that human behavior is driven by selfish motives. Continue reading to learn more about this theory.
Why would someone buy a Tesla? Why do some people post photos of their glitzy hotel rooms on Instagram? Just as body language allows us to communicate about things we’d never put into words, Kevin Simler and Robin Hanson argue that many of our actions double as social signals or conspicuous fitness displays. This is especially noticeable when it comes to how we spend our money and other resources. Read more to understand the concept of social signaling through spending.
Why don’t rich people pay taxes? Is the American taxation regressive or progressive? In the U.S., most of the tax burden is borne by low- and middle-income earners. The reason for this is that American taxation is regressive, pulling the bulk of public funds from taxes that come from regular families while a large portion of American wealth remains in the pockets of the ultra-wealthy. Here’s why the ultra-rich pay less in taxes.
How much can you invest in your startup? How much of a financial leg up can you give your new business? If you have sizable assets to invest in your startup, you have a leg up over the competition. Valuable assets are one of the unfair advantages identified in the book The Unfair Advantage by entrepreneurs Ash Ali and Hasan Kubba. The authors discuss a potential drawback of assets, how to know if your assets are your unfair advantage in particular, and how to improve and make the most of your assets. Keep reading to learn about the unfair advantage
How do you calculate investment risk? What do you need to know to calculate the expected payoff of a financial investment? Investors often use probability to assess risk when making financial decisions. This is typically done with a statistic called an “expected value.” To calculate the expected value of a financial investment, you need to know the probability of each possible outcome and its respective payoff. Here’s how to use the expected value statistic for calculating investment risk.
What is the Great Wealth Transfer? Should you worry about it? Inherited wealth will come to account for a much greater share of overall wealth than that earned through work and savings. This is because of the Great Wealth Transfer, where baby boomers transfer their wealth to the younger generations. Learn more about why the Great Wealth Transfer is coming.
What is Capital in the Twenty-First Century about? Why does Thomas Piketty believe capitalism generates economic inequality? In Capital in the Twenty-First Century, Thomas Piketty analyzes national incomes, income tax returns, estate tax returns, and other financial data across multiple countries and centuries. The result is a groundbreaking study of the history of economic inequality and its implications for 21st-century society. Keep reading for an overview of Capital in the Twenty-First Century by Thomas Piketty.
What’s The Almanack of Naval Ravikant about? What are some of the book’s quotes that give insight into the overall message? Many everyday people strive for wealth and happiness, but most of us struggle along the way and very few seem to achieve both. Still fewer share their insights about how to get there. Entrepreneur and self-made millionaire Naval Ravikant has become known for doing this online, via Twitter, podcasts, interviews, and blog posts. The Almanack of Naval Ravikant is a collection of those insights on wealth and happiness compiled by business blogger Eric Jorgenson. We’ve pulled together several The
Do you want to learn about cryptocurrency but aren’t sure where to start? Perhaps you’re already a successful crypto trader looking to follow up on the latest trends and glean expert insights? Cryptocurrency is a dynamic and fast-paced industry. Even experienced investors have a hard time keeping up with all the happenings. Thankfully, there are lots of resources available to help you make sense of the endless stream of crypto news and put them into a larger perspective. In this article, we’ve compiled a list of the best cryptocurrency blogs and podcasts to help you navigate this fascinating and ever-changing
What causes economic inequality? What is different about economic inequality now vs. before World War I? Economic inequality is a growing issue today. In Capital in the Twenty-First Century, Thomas Piketty argues that high salaries for executives and managers are the driving forces for inequality. Read more on how uneven salary distribution could be the leading cause of this imbalance.