Alarming at moments and a welcome user’s manual for anyone with investments, large or small, in the current market.

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HOW MONEY BECAME DANGEROUS

THE INSIDE STORY OF OUR TURBULENT RELATIONSHIP WITH MODERN FINANCE

An insider’s view of how an increasingly abstract financial system fails to align with human needs.

Investment banker and fund manager—and, as is often mentioned, former Disneyland employee—Varelas begins with a poignant lesson. As an elementary school student, he was impressed by a classroom visit from a banker who revealed that saving a dime each week would yield the fortune of $3 by the end of the remaining school year. He worked through high school, amassing even more money in a savings account, only to discover that it had zeroed out when the bank introduced a service fee without telling him. Therein was the end of his “naive trust that the system cared, somehow, about my well-being.” It doesn’t. What it cares about is how the numbers look at the end of the year so that the person manipulating them qualifies for promotions, bonuses, and all the “perverse incentives” of consumer society. Gone are the days, writes the author, when a person like his first major client, a diamond vendor, could borrow money on a handshake—and gone are the days when character mattered as much as collateral and capacity (i.e., “a borrower’s ability to handle debt and expenses”). Varelas charts the evolution—or, more, accurately, devolution—of the modern financial sector, noting that when banking firms went public there was no longer a personal stake in the game but instead only “employees looking to maximize annual compensation” without sufficient concern for risk, one of what Walt Disney called “the hard facts that have created America.” Other negatives in the system, writes the author, are time-sensitive algorithms whose speed divorces prices from “reality” and a corporate culture that turns the financial-sector worker into “merely a cog in a global delivery mechanism." The author’s exercise in forensic accounting as he examines a case of government bankruptcy is particularly fascinating.

Alarming at moments and a welcome user’s manual for anyone with investments, large or small, in the current market.

Pub Date: Nov. 5, 2019

ISBN: 978-0-06-268475-2

Page Count: 400

Publisher: Ecco/HarperCollins

Review Posted Online: Sept. 11, 2019

Kirkus Reviews Issue: Oct. 1, 2019

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Not an easy read but an essential one.

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HOW TO BE AN ANTIRACIST

Title notwithstanding, this latest from the National Book Award–winning author is no guidebook to getting woke.

In fact, the word “woke” appears nowhere within its pages. Rather, it is a combination memoir and extension of Atlantic columnist Kendi’s towering Stamped From the Beginning (2016) that leads readers through a taxonomy of racist thought to anti-racist action. Never wavering from the thesis introduced in his previous book, that “racism is a powerful collection of racist policies that lead to racial inequity and are substantiated by racist ideas,” the author posits a seemingly simple binary: “Antiracism is a powerful collection of antiracist policies that lead to racial equity and are substantiated by antiracist ideas.” The author, founding director of American University’s Antiracist Research and Policy Center, chronicles how he grew from a childhood steeped in black liberation Christianity to his doctoral studies, identifying and dispelling the layers of racist thought under which he had operated. “Internalized racism,” he writes, “is the real Black on Black Crime.” Kendi methodically examines racism through numerous lenses: power, biology, ethnicity, body, culture, and so forth, all the way to the intersectional constructs of gender racism and queer racism (the only section of the book that feels rushed). Each chapter examines one facet of racism, the authorial camera alternately zooming in on an episode from Kendi’s life that exemplifies it—e.g., as a teen, he wore light-colored contact lenses, wanting “to be Black but…not…to look Black”—and then panning to the history that informs it (the antebellum hierarchy that valued light skin over dark). The author then reframes those received ideas with inexorable logic: “Either racist policy or Black inferiority explains why White people are wealthier, healthier, and more powerful than Black people today.” If Kendi is justifiably hard on America, he’s just as hard on himself. When he began college, “anti-Black racist ideas covered my freshman eyes like my orange contacts.” This unsparing honesty helps readers, both white and people of color, navigate this difficult intellectual territory.

Not an easy read but an essential one.

Pub Date: Aug. 13, 2019

ISBN: 978-0-525-50928-8

Page Count: 320

Publisher: One World/Random House

Review Posted Online: April 28, 2019

Kirkus Reviews Issue: May 15, 2019

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A clear and candid contribution to an essential conversation.

SO YOU WANT TO TALK ABOUT RACE

Straight talk to blacks and whites about the realities of racism.

In her feisty debut book, Oluo, essayist, blogger, and editor at large at the Establishment magazine, writes from the perspective of a black, queer, middle-class, college-educated woman living in a “white supremacist country.” The daughter of a white single mother, brought up in largely white Seattle, she sees race as “one of the most defining forces” in her life. Throughout the book, Oluo responds to questions that she has often been asked, and others that she wishes were asked, about racism “in our workplace, our government, our homes, and ourselves.” “Is it really about race?” she is asked by whites who insist that class is a greater source of oppression. “Is police brutality really about race?” “What is cultural appropriation?” and “What is the model minority myth?” Her sharp, no-nonsense answers include talking points for both blacks and whites. She explains, for example, “when somebody asks you to ‘check your privilege’ they are asking you to pause and consider how the advantages you’ve had in life are contributing to your opinions and actions, and how the lack of disadvantages in certain areas is keeping you from fully understanding the struggles others are facing.” She unpacks the complicated term “intersectionality”: the idea that social justice must consider “a myriad of identities—our gender, class, race, sexuality, and so much more—that inform our experiences in life.” She asks whites to realize that when people of color talk about systemic racism, “they are opening up all of that pain and fear and anger to you” and are asking that they be heard. After devoting most of the book to talking, Oluo finishes with a chapter on action and its urgency. Action includes pressing for reform in schools, unions, and local governments; boycotting businesses that exploit people of color; contributing money to social justice organizations; and, most of all, voting for candidates who make “diversity, inclusion and racial justice a priority.”

A clear and candid contribution to an essential conversation.

Pub Date: Jan. 16, 2018

ISBN: 978-1-58005-677-9

Page Count: 256

Publisher: Seal Press

Review Posted Online: Oct. 9, 2017

Kirkus Reviews Issue: Nov. 1, 2017

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