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Switch: How to Change Things When Change Is Hard

Premise (from the NY Times review)

The sciences of human behavior can provide us with tools for making changes in our lives—tools that are more effective than “willpower,” “leadership” and other easier-said-than-done solutions. The authors explain a couple of fundamental principles of psychology and distill from them concise recommendations for bringing about change. They convey their ideas primarily through stories about people, companies and organizations that have successfully undertaken major realignments, sometimes in the face of long odds.

The other major psychological principle at work in “Switch” is the idea that, more than we suspect, outside influences control our actions. All the good intentions and native intelligence in the world can be defeated if the setting is not right. But small changes to one’s environment can have a big effect. Don’t try to resist the junk food lurking in your cupboard, get the cookies and chips out of the house. Instead of going it alone, try to recruit someone—a spouse, a sibling—who has a shared goal. For any effort at change to succeed, the Heaths argue, you have to “shape the path.” With “Switch” they have shaped a path that leads in a most promising direction.

Irrational Exuberance (Second Edition)

Premise

Robert  Shiller discusses how mass psychology and the media create bubbles( such as the 90’s stock market rise and fall and the more recent real estate market). 

Shiller eludes to many findings in psychology, to explain how people listen to others against their own better judgement.   He goes on to explain how this creates a feedback loop effect in the markets.

He explains the twelve precipitating factors for a bubble to form. They include: capitalism explosion and ownership society, new information technology, supportive monetary policies and overly optimistic forecasting from analysts’ and the media.
The Great Reset

Premise

A very broad look at the present economic crisis and how out of the dust, new opportunities await.  The author illustrates how historically, during major busts, innovation thrives and eventually, out of necessity creates new industries and living standards.

Basically, he describes how the landscape can be reconfigured (citing Detroit, Toronto and Philly as examples).  For better or worse, society must let go of old notions and evolve.

Naked Economics: Undressing the Dismal Science

Premise

A book for anyone who wants to gain a better understanding of the fundamentals of economics and how they can be applied to daily life.  It’s much more than an Econ 101 study. 

It uses story and humour, along with intelligent examples of how various economic policies work and effect our daily life, both socially and economically.

He doesn’t use any math or formulas – Just plain English and wit to take an ordinarily dry topic and make it something that anyone can find of interest. 

I’m enjoying it so far!

The Big Short: Inside the Doomsday Machine

Premise

An inside look into the causes of the recent financial crisis and the creation of the world’s largest credit bubble. 

The story is told through the eyes of the managers of three small hedge funds and a Deutsche Bank bond salesman who were among the first to see the fraud behind the subprime fiasco, and found ways to bet against it when everyone else thought them crazy.

The Story Factor (2^nd Revised Edition)

Premise

This book is an easy read, and explains how anyone can increase their power of influence in any situation through the effective use of storytelling.

It offers examples and illustrations of how good storytellers develop and how to become one yourself.

Basically, people need to relate to you.  If they see you’re a person too, they’ll respect you and listen to you over someone simply spouting an opinion.

 

Drive

Premise

This book picks up on a long since abandoned study of what actually motivates people to work harder.  It’s surprising and goes against the face of modern business models, but in fact money is not a motivator long term. 

The authors go so far as to explain how at a certain point, more money actually de-motivates people. 

I’m just starting this one but am intrigued so far.

Lords of Finance: The Bankers who Broke the World

Premise

A chronicle of the four men in charge of the four most powerful Central Banks after WWI. Benjamin Strong of the US, Montagu Norman of England, Hjalmar Schacht of Germany, and Emile Moureau are the focus of the book as the main premise is that these men helped lead the world into the Great Depression. The book is part biography, history and political and economic treatise.

A great deal of time is spent discussing the gold standard and the bankers antiquated belief and adherence to it. We’re also introduced to John Maynard Keynes who plays a large role throughout the book and is the father of Keynesian economics. Keynes is portrayed as the antithesis to the Central Bankers and was unfortunately not in a position to stop what he could see was happening all around. One of the most intriguing realizations for the reader is how little that the men who were running the global finances actually knew about Central Banking and economics in general. An argument that could no doubt hold true today, albeit the advancements we’ve made since this time.