An informative primer from a genial guide.
An economic expert chronicles the evolution of money.
Goldstein, co-host of NPR’s podcast Planet Money, offers a brisk, brightly told history of money, ranging from lumps of metal used in ancient Greek city-states to invisible bitcoin traded online. Money, the author argues convincingly, is “a made-up thing, a shared fiction.” He continues, “a pretty good working definition of money is: it’s the thing you pay taxes with. In a world where different things are competing to be money—bills of exchange, silver and gold coins, notes from private banks—the thing the government accepts for taxes is going to win.” Besides tracing different forms that money has taken, Goldstein introduces a roster of quirky individuals who influenced monetary policy: among them, 17th-century Scotsman John Law, an inveterate gambler cognizant of the probability theory put forth by the “weirdo genius” Blaise Pascal and who powerfully shaped the French economy; Nicholas Biddle, president of America’s first central bank (at a time when the U.S. had 8,370 different kinds of paper money), who drew Andrew Jackson’s ire; Yale economist Irving Fisher, who redefined the dollar “as a fixed basket of stuff”; and Bruce Bent, inventor of the money-market fund. Goldstein deftly clarifies economic concepts, distinguishing, for example, the real economy (“the carpenter who builds your house”) from finance (“the banker who lends you money to buy the house”). Finance, he explains, “matches people who are willing to give up money now for the possibility of more money later with people who need money now and are willing to pay back more money later. Finance moves money around in time.” The author also explains the underpinnings of the 2008 financial crisis, the consequences of the adoption of the euro, and the possibilities of money in the future: the disappearance of cash, for one, and the end of banks.
An informative primer from a genial guide.Pub Date: Sept. 8, 2020
ISBN: 978-0-316-41719-8
Page Count: 272
Publisher: Hachette
Review Posted Online: June 29, 2020
Kirkus Reviews Issue: July 15, 2020
A moving meditation on mortality by a gifted writer whose dual perspectives of physician and patient provide a singular...
A neurosurgeon with a passion for literature tragically finds his perfect subject after his diagnosis of terminal lung cancer.
Writing isn’t brain surgery, but it’s rare when someone adept at the latter is also so accomplished at the former. Searching for meaning and purpose in his life, Kalanithi pursued a doctorate in literature and had felt certain that he wouldn’t enter the field of medicine, in which his father and other members of his family excelled. “But I couldn’t let go of the question,” he writes, after realizing that his goals “didn’t quite fit in an English department.” “Where did biology, morality, literature and philosophy intersect?” So he decided to set aside his doctoral dissertation and belatedly prepare for medical school, which “would allow me a chance to find answers that are not in books, to find a different sort of sublime, to forge relationships with the suffering, and to keep following the question of what makes human life meaningful, even in the face of death and decay.” The author’s empathy undoubtedly made him an exceptional doctor, and the precision of his prose—as well as the moral purpose underscoring it—suggests that he could have written a good book on any subject he chose. Part of what makes this book so essential is the fact that it was written under a death sentence following the diagnosis that upended his life, just as he was preparing to end his residency and attract offers at the top of his profession. Kalanithi learned he might have 10 years to live or perhaps five. Should he return to neurosurgery (he could and did), or should he write (he also did)? Should he and his wife have a baby? They did, eight months before he died, which was less than two years after the original diagnosis. “The fact of death is unsettling,” he understates. “Yet there is no other way to live.”
A moving meditation on mortality by a gifted writer whose dual perspectives of physician and patient provide a singular clarity.Pub Date: Jan. 19, 2016
ISBN: 978-0-8129-8840-6
Page Count: 248
Publisher: Random House
Review Posted Online: Sept. 29, 2015
Kirkus Reviews Issue: Oct. 15, 2015
PERSPECTIVES
Striking research showing the immense complexity of ordinary thought and revealing the identities of the gatekeepers in our...
A psychologist and Nobel Prize winner summarizes and synthesizes the recent decades of research on intuition and systematic thinking.
The author of several scholarly texts, Kahneman (Emeritus Psychology and Public Affairs/Princeton Univ.) now offers general readers not just the findings of psychological research but also a better understanding of how research questions arise and how scholars systematically frame and answer them. He begins with the distinction between System 1 and System 2 mental operations, the former referring to quick, automatic thought, the latter to more effortful, overt thinking. We rely heavily, writes, on System 1, resorting to the higher-energy System 2 only when we need or want to. Kahneman continually refers to System 2 as “lazy”: We don’t want to think rigorously about something. The author then explores the nuances of our two-system minds, showing how they perform in various situations. Psychological experiments have repeatedly revealed that our intuitions are generally wrong, that our assessments are based on biases and that our System 1 hates doubt and despises ambiguity. Kahneman largely avoids jargon; when he does use some (“heuristics,” for example), he argues that such terms really ought to join our everyday vocabulary. He reviews many fundamental concepts in psychology and statistics (regression to the mean, the narrative fallacy, the optimistic bias), showing how they relate to his overall concerns about how we think and why we make the decisions that we do. Some of the later chapters (dealing with risk-taking and statistics and probabilities) are denser than others (some readers may resent such demands on System 2!), but the passages that deal with the economic and political implications of the research are gripping.
Striking research showing the immense complexity of ordinary thought and revealing the identities of the gatekeepers in our minds.Pub Date: Nov. 1, 2011
ISBN: 978-0-374-27563-1
Page Count: 512
Publisher: Farrar, Straus and Giroux
Review Posted Online: Sept. 3, 2011
Kirkus Reviews Issue: Sept. 15, 2011
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