Capital in the Twenty-First Century (Thomas Piketty) Piketty is the foremost economist working on the distribution of income and wealth. In this book, he presents new and important facts on the changing level of wealth in the world’s leading economies. – Philip Bond, Associate Professor of Finance and Business Economics; Norman J. Metcalfe Endowed Professor in Finance In Fed We Trust: Ben Bernanke’s War on the Great Panic (David Wessel) This highly readable account of the 2008 financial crisis was originally recommended to me by Karma Hadjimichalakis. Even though the financial crisis and the subsequent recession are over, reviewing the 2008 experience helps us to understand current policies, including those designed to avoid another crisis in the future. – Debra Glassman, Senior Lecturer in Business Economics; Faculty Director, Global Business Center Who Stole the American Dream? (Hedrick Smith) This book outlines, in very accessible detail, the deterioration—in numbers and economic security— of the American middle class. It should serve as a wake-up call for those of us who think that all is well with the 21st century American economic system. – Thomas Jones, Professor of Management; The Boeing Company Endowed Professor in Business Management
The Fortune at the Bottom of the Pyramid: Eradicating Poverty Through Profits (C.K. Prahalad) Understanding the differences in the perspectives and needs of the billions of potential customers that are the poorest people in the world is very valuable, and thinking about how business can help alleviate poverty is very interesting to me. – Rick McPherson, Lecturer in Management Makers: The New Industrial Revolution (Chris Anderson) This is an interesting book about how trends in open-source innovation, open-source design and 3D printing are enabling individuals to manufacture small batches of customized products. The author calls this industrial revolution “desktop manufacturing” and suggests that these trends, when combined, have the potential to change the world. He also examines through examples how crowdfunding and social financing are opening up opportunities for individuals seeking funds to start new ventures. – Suresh Kotha, Professor of Management; Olesen/Battelle Excellence Chair in Entrepreneurship; Research Director, Arthur W. Buerk Center for Entrepreneurship The Economist I recommend weekly reading of The Economist magazine. The coverage is timely, relevant, and thoughtful. First time through is a bit of a slog, but if you read it regularly then it will require an hour or less each week. The benefit is that you will be able to knowledgeably contribute to any discussion of current events, as well as
be aware of current things going on that may affect your firm or your family. – Kathy Dewenter, Associate Professor of Finance and Joshua Green Family Endowed Professor There Will Be Blood (film by Paul Thomas Anderson) For something completely different… This film has some great scenes on the difficulty of negotiation under asymmetric information (jargon for different people knowing different things), and between one party and a group. – Philip Bond, Associate Professor of Finance and Business Economics; Norman J. Metcalfe Endowed Professor in Finance n Too Big To Fail (Andrew Ross Sorkin), Liar’s Poker (Michael Lewis), and When Genius Failed (Roger Lowenstein)
Investors tend not to remember the past and believe that financial markets have become safer and that the future is rosier. But somehow, we once again went through a crash in 2008 and teetered on the brink of another Great Depression. So learn from the past, learn from the mistakes of others, and always be humble! – Thomas Gilbert, Assistant Professor of Finance n
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