The World's Best Book Summaries
Have your life goals changed over the years? Do you have the same goals you did 10 or 20 years ago? A fact of life is that goals change over time. However, people often deny this fact and try to plan for the future as if nothing will change. That’s why Morgan Housel, the author of The Psychology of Money, says that you should make a financial plan that is flexible. Here’s why you should have finances that can change with your life.
Why do they say “money can’t buy you happiness”? Did you know that statement is fundamentally wrong? In his book The Psychology of Money, Morgan Housel explains that money buys you control over time, which is the key driver of happiness. When you have control over how you spend your time, you can spend it on things that bring your happiness. Here’s why money is happiness if used responsibly.
Does fear of uncertainty hold you back from investing? Are you nervous about putting your money in a long-term investment account, not knowing how much it will grow? According to Morgan Housel, the author of The Psychology of Money, investment uncertainty holds many people back. However, the longer you put off investing due to fear, the smaller your returns will be. Here’s why accepting uncertainty is key to achieving long-term investing success.
Do you regularly put money aside in a savings account? Why is it important to save money? We’re told from a young age that having a savings account is important, but many people don’t have savings because they feel like they don’t make enough money to save. According to Morgan Housel, the author of The Psychology of Money, this way of thinking is incorrect and harmful—everyone should save money even if they don’t have a high income. Here’s how to start saving money even if you don’t have a high income.
Are you looking for the absolute best books about money? Do you want to increase your financial literacy and potentially start investing? With so much financial material out there, it can be difficult to pick out the authoritative resources written by authors who don’t just preach theory but also offer actionable strategies to help you get to grips with your finances, understand basic investment principles, and start building wealth. That’s why we’ve rounded up the following list of the absolute best books about money—written by financial educators with decades of experience, featured on well-known bestsellers’ lists, and positively rated by thousands
Why are the problems with the top-down aid model? Why is the humanitarian aid system flawed? In his book The White Man’s Burden, William Easterly posits that the top-down aid model is disconnected from its recipients and is a recipe for under-delivering. However, there are cases to be made for both sides of the argument. Continue reading to learn more about the flaws in the global aid system.
How can a company as big as Netflix have such a lenient expense policy? How can Netflix enforce such subjective rules? Netflix’s expense policy basically states that all employees must “act in the company’s best interest” when it comes to travel expenses such as flights, hotels, and dinners. The problem is that each person may have a different idea of what is acceptable and what is extravagant. Here’s how Netflix ironed out the kinks in their expense policy.
What are structural adjustment loans? Why does economist William Easterly think they are a huge failure? Structural adjustment loans are economic reforms that aim to transition a country to a free-market economy—but they come with many catches. In the end, these loans usually end up putting a struggling country into more debt. Keep reading to learn why structural adjustment loans are not the answer to economic reform.
Is Social Security running out of money? Why does modern monetary theory say the entitlement program crisis is a lie? Modern monetary theory (MMT) says that social entitlement programs such as Social Security and Medicaid will always be safe. This theory goes against the common belief that, due to the number of Baby Boomers, the social entitlement programs will run out of money and future generations will need to find alternative forms of aid. Keep reading for economist and MMT believer Stephanie Kelton’s take on the entitlement crisis.
How does the federal reserve set monetary policy? Why does economist Stephanie Kelton believe that the Fed is causing needless suffering in the United States? In her book The Deficit Myth, Kelton (a believer in modern monetary theory) thinks that the federal reserve is too conservative and overreacts when it comes to the fear of inflation. Kelton and other MMT proponents believe in using a combination of deficit spending and low interest rates to boost demand and create full employment instead. Below, we will discuss the problems with the Federal Reserve, according to Stephanie Kelton.