Category: Book Reviews


I read “False Profits” by Dean Baker a few days ago.  The subtitle of the book is “Recovering from the Bubble Economy” – which pretty much sums up what the book is about.   The author has some interesting opinions about what happened with the economy – and some issues he has with the economic leadership at the time.

One of the key points of the book is that the heart of the economic crisis was not derivatives, exotic loans, etc – but a housing bubble.  Real Estate simply became overvalued and when it fell it caused a ripple of consequences to the economy.  Not only was the wealth generated and lost by the housing itself – but it fed a lot of consumption in the economy that was also lost.

The heart of the problem is that no type of asset will endlessly go up – at some point it goes down.  Stocks go up and down – even if over a long time period they go up.  Housing has gone up and down over time – but the general trajectory is up.  Gold, other metals, even bonds, go up and down in value.  To assume anything will forever keep increasing signficantly is just denying reality.  But our society seemed to buy into it - as it was making us money and driving the economy.

Another interesting point the author made was how this affected the baby boomer generation –  in terms of their readiness for retirement.  I can’t back it up but he says that baby boomers that don’t own a house are actually in better shape than those who do – that too many baby boomers made their house their primary wealth vehicle – not retirement funds, stocks, bonds, etc. View full article »

I just read “GEEKS, GEEZERS and GOOGLIZATION” by Dr. Ira S. Wolfe. This was an interesting book in that it made you think about differences between the generations.  I think there are 2 key learning points from this book;

  • We need to treat people the way they want to be treated – not the way we want to be treated.  Recognize them as individuals – who have different learning, communication, etc. preferences and view points
  • The generations have different viewpoints about reality that can be in conflict if not recognized – they each have their advantages and disadvantages.

Without re-printing the book I’ll summarize here some information about the different generations I found valuable: View full article »

Interesting Read – “The Murder of Lehman Brothers”  by Joseph Tibman.  This was a personal account of the “death” of Lehman Brothers – part of the Financial Crisis of 2008.  The author is a former investment banker – written under a false name so he could get another job.  This is not a scholarly work – but a personal account from the inside – of the history and culture of Lehman Brothers.  It was a nice read – as the personal story drew me into the drama of the events of the firm – especially around 9/11 and at the end.

Like other reviews I’m not going to re-iterate the book – but focus on some of the key points of the book. What was most fascinating was how the events of the day looked from the inside of the industry.  To the outside and in hindsight it seems like people were insane but the author gives some reasoning why people felt and acted the way they did.

One interesting point he makes is that the events of 9/11 – the struggle for survival of the company – created a unique culture at Lehman Brothers.  The company struggled many times – but emerged through deft management after many of those struggles.  Those in the firm believed in the firm – believed that any struggle could be overcome with hard work and patience.  I got the hint of a different world that these bankers and traders lived in – one of risk, reward and the thrill of the deal. View full article »

I just finished reading “No One Size Fits All – From Mass Marketing and Mass Handselling” – by Tom Hayes & Michael S. Malone.  This book is about the changing marketplace – that mass media marketing will become less and less effective.  That the Internet is returning us to a world of smaller, more insular communities.  That companies need to change how the interact with customers – from telling them about their products to engaging in their communities.

Overall it’s a book worth reading – but it’s a little dry.  There is a lot of research that the author references to make his points – a lot of sociological research.  While I’m not fully on board with the author – I think it’s worth considering how the world is changing how to market to customers.

Like in some of my other Book Reviews – I will talk less about the book and more about some observations about it.  I see some of what the author sees – as the growth of online communities is large and growing.  I’m on Facebook a lot, read Twitter posts a lot and support a number of online forums (from a technical perspective).  I see trends in TV watching – that people are using the DVR, watching things online – that old days of everyone watching the same thing are over.

One of the fascinating things the book points out is the human need to form groups – to find a sense of community.  One of the things I find fascinating is how much money (hundreds, even thousands of dollars) people will spend on their hobbies.  I can’t imagine spending that much money (probably because I don’t have it) on a hobby – but I see it over and over across many hobbies.  I’ve often wondered why that much money is spent – is it just because they enjoy the hobby that much – or is it about a sense of community?  About how by joining other in that hobby – of that shared passion – they find identify and comfort in that shared community. View full article »

I picked up this book – “Hell to Pay” by D.M. Giangreco as it reviewed the facts about the possible invasion of Japan by the U.S. in World War II.  I’ve always been interested in World War II and remember debating in a high school class on whether Truman should have dropped the bomb.  For many years there’s been a debate over whether Truman made the right decision and on what the potential casulties would be.

This book does a good job going over the facts in detail – to the point I was skipping some source material.  It presents a solid picture of how many casulties – both U.S. and Japanese would be involved in the invasion of Japan.  After reading the book I can easily see the U.S. suffering a million dead and many, many million of Japanese dying.  So for me, while it’s almost a deal with the devil, dropping the bomb was the right decision to attempt to avoid an even worse outcome in terms of death and destruction.

Instead of going over the book in detail (as you can read it) I wanted to comment on the trend I see in society to twist facts to purpose – instead of letting the facts rule.  The casulty estimates for the invasion of Japan has been something debated for many years – without the best scholarship.  It was interesting how the author noted that the claims of many, many WWII veterans of 500,000 deaths for an invasion were treated with derision.  The author’s research, using newly released evidence, underscores and makes this claim almost timid. 

I’m concerned that in society we’ve gotten the point where science and history have become tainted with agendas, politics, belief systems, etc.  The people doing research are humans – they have their own biases, interpretations, etc. – so it’s alway been a risk they will read into things something that’s really not there.  What concerns me is that their peers don’t seem to question like they used to – that everyone just agrees with the expected conclusions.   The debates over Global Warming show a dangerous tendency in those involved to not be willing to allow differing opinions.

Of course one of the dangers is when we mix empirical science (repeatable facts) with historical/predictive science – as if they are the same.  The first one is pretty objective – in that someone else can repeat the experiment – can show the same result.  The others – and this includes some areas of history – is more subjective as interpretations and suppositions have to be made – not all the data is there.  In a good sense this is why things keep changing – as we learn more – but what bugs me is that we weren’t honest in the first place of that it’s our best guess – not an empircal fact.

When we make decisions in our business and personal lives on poor data we often have poor results.  When we discount the nature of the data (say risk evaluation for financial firms) we also make poor decisions.  I think it’s important we stay honest with ourselves and others on what data we have and the quality of it.

This book – The Future Arrived Yesterday – by Michael S. Malone – is a proposal by the author (I keep writing doctor as I’m in the hospital and I’m tired when I writing this) on how to re-structure corporations to handle the changes in the future.  He proposes a new structure – the “Protean” corporation – as an organizational structure to better adapt to the changing conditions in the future.  A “Protean” corporation, according to the Michael S. Malone,  is a corporate structure that has a more “permanent” core along with a more nebulous “cloud” that serves that core. View full article »

I just finished reading “Team of Rivals – The Polical Genius of Abraham Lincoln” by Doris Kearns Goodwin.  I enjoyed reading this book – in large part because of how much respect and admiration I have for Abraham Lincoln.  I think Lincoln has become one of the people that represents the greatness of America – one of our heroes.  I would definitely recommend this book – but if you don’t like to read you might try an audiobook version as it’s 700+ pages.

This book took an interesting approach – constrasting Lincoln with some of his rivals – those who would become part of his cabinet during his presidency.  It was fascinating to understand more the context of the life of Lincoln – in terms of what was normal for a man of his era to experience.  It was an age of America where many men went “West” – to create for themselves a new life – one of economic opportunity.  Lincoln was a complex man – suffering from depression, anger  – but all of those life experiences culminated in a powerful personality as President.

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I enjoyed reading “What Would Google Do?” by Jeff Jarvis.  This book, despite the title, was not so much about Google but about the impact of Google/Internet has had on companies – especially looking to the future.  Overall this book was a good read – as you can tell Jeff Jarvis is a college professor by the insights he has into the effect of Google.  If you wondering what the future will possibly be like for many businesses in an Internet age I would highly recommend this book.

For my own sake (and hopefully yours) I will now note some of the items I really learned from this book:

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I just read Planet Google by Randall Stross – a book about Google (can you Google about Google or would that cause some kind of time space distortion).  The book starts with the beginning of Google – in the academic world – an takes us through a brief history of Google – in it’s different aspects – search, book search, Gmail, etc.  Google started out small – but ambitious – to organize all information in the world.

I agree with the author – that Google’s timing was great – with the growth of cheap, but plentiful hardware, the explosive growth of web and the failure of it’s competitors.  The book points out what I’ve heard before – that Google has and still values it’s engineers.  Google seems to be a different company – less focused on money and shareholder value than other companies.  It helps that their core search business is a major revenue source – simple but very profitable.  This gives them a ton of cash to pursue other ventures – a luxury most companies don’t have.

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Book Review/Notes: China INC. – by Ted C. Fishman

This was a pretty interesting book – I feel like I learned a lot (which is something of the point of a non-fiction book – to learn something).  This book gave me a better insight into the world of china – how different their culture is – and how that works for their benefit in the world economy.  They are an economic powerhouse – but a different one than America is.  I learned of the strengh of their nearly unlimited labor pool – as well as how intertwined their economy is with ours.  This book was was published in 2005 – so it’s a few years out of date – as it doesn’t address the recession of 2008-2009.   That said, I think there are a lot of items to learn from this book:

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