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A clear and detailed map for the navigation of murky financial terrain.

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Reichental conducts a comprehensive tour of the obscure world of cryptocurrency.

According to the author, founder of the global business and tech advisory firm Human Future, the foundation of the “fourth industrial revolution,” powered by “hyper-connectivity, digitalization, and data,” will be cryptocurrency and blockchain, its “technological architecture.” He furnishes a remarkably thorough introduction to the “cryptocurrency ecosystem,” explaining its historical evolution while sketching its possible future. Reichental covers all the bases, including an impressively accessible synopsis of the technological aspects of cryptocurrency (especially blockchain), detailing the ways in which this “trustless system” is designed to provide a secure alternative to any central banking system. The author’s approach is both theoretical and practical—in addition to giving an overview of the basic ideas, he also discusses buying and selling cryptocurrency and commodities such as non-fungible tokens. Reichental aims to educate the reader rather than advocate for the promise of cryptocurrency, and he roundly succeeds at this; while his enthusiasm for the subject is plain, he diligently documents its dangers (“And make no mistake, the risks right now are extraordinarily high”). The author is especially astute detailing the volatility of cryptocurrency as a financial asset, and he explains, with meticulous care, the significance of the recent FTX scandal for the industry. Reichental consistently addresses, with admirable intellectual balance, the advantages and disadvantages of every new invention, as when he demonstrates his restraint while commenting on NFTs: “Many argue it’s as valid to collect a digital art piece with the artist’s digital signature as, say, a signed baseball card or a signed print of a painting. Detractors see a superficial and temporary marketplace that naive enthusiasm is overinflating.” The entire book is written in this manner: unfailingly evenhanded and satisfyingly informative. For the novice in search of a lucid primer or the more seasoned veteran interested in well-organized summary, this is a helpfully instructive reference.

A clear and detailed map for the navigation of murky financial terrain.

Pub Date: Feb. 25, 2023

ISBN: 9781636100401

Page Count: 320

Publisher: ClydeBank Media LLC

Review Posted Online: May 11, 2023

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These are not hard and fast rules, but Meyer delivers important reading for those engaged in international business.

A helpful guide to working effectively with people from other cultures.

“The sad truth is that the vast majority of managers who conduct business internationally have little understanding about how culture is impacting their work,” writes Meyer, a professor at INSEAD, an international business school. Yet they face a wider array of work styles than ever before in dealing with clients, suppliers and colleagues from around the world. When is it best to speak or stay quiet? What is the role of the leader in the room? When working with foreign business people, failing to take cultural differences into account can lead to frustration, misunderstanding or worse. Based on research and her experiences teaching cross-cultural behaviors to executive students, the author examines a handful of key areas. Among others, they include communicating (Anglo-Saxons are explicit; Asians communicate implicitly, requiring listeners to read between the lines), developing a sense of trust (Brazilians do it over long lunches), and decision-making (Germans rely on consensus, Americans on one decider). In each area, the author provides a “culture map scale” that positions behaviors in more than 20 countries along a continuum, allowing readers to anticipate the preferences of individuals from a particular country: Do they like direct or indirect negative feedback? Are they rigid or flexible regarding deadlines? Do they favor verbal or written commitments? And so on. Meyer discusses managers who have faced perplexing situations, such as knowledgeable team members who fail to speak up in meetings or Indians who offer a puzzling half-shake, half-nod of the head. Cultural differences—not personality quirks—are the motivating factors behind many behavioral styles. Depending on our cultures, we understand the world in a particular way, find certain arguments persuasive or lacking merit, and consider some ways of making decisions or measuring time natural and others quite strange.

These are not hard and fast rules, but Meyer delivers important reading for those engaged in international business.

Pub Date: May 27, 2014

ISBN: 978-1-61039-250-1

Page Count: 288

Publisher: PublicAffairs

Review Posted Online: April 15, 2014

Kirkus Reviews Issue: May 1, 2014

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Occasionally wonky but overall a good case for how the dismal science can make the world less—well, dismal.

“Quality of life means more than just consumption”: Two MIT economists urge that a smarter, more politically aware economics be brought to bear on social issues.

It’s no secret, write Banerjee and Duflo (co-authors: Poor Economics: A Radical Rethinking of the Way To Fight Global Poverty, 2011), that “we seem to have fallen on hard times.” Immigration, trade, inequality, and taxation problems present themselves daily, and they seem to be intractable. Economics can be put to use in figuring out these big-issue questions. Data can be adduced, for example, to answer the question of whether immigration tends to suppress wages. The answer: “There is no evidence low-skilled migration to rich countries drives wage and employment down for the natives.” In fact, it opens up opportunities for those natives by freeing them to look for better work. The problem becomes thornier when it comes to the matter of free trade; as the authors observe, “left-behind people live in left-behind places,” which explains why regional poverty descended on Appalachia when so many manufacturing jobs left for China in the age of globalism, leaving behind not just left-behind people but also people ripe for exploitation by nationalist politicians. The authors add, interestingly, that the same thing occurred in parts of Germany, Spain, and Norway that fell victim to the “China shock.” In what they call a “slightly technical aside,” they build a case for addressing trade issues not with trade wars but with consumption taxes: “It makes no sense to ask agricultural workers to lose their jobs just so steelworkers can keep theirs, which is what tariffs accomplish.” Policymakers might want to consider such counsel, especially when it is coupled with the observation that free trade benefits workers in poor countries but punishes workers in rich ones.

Occasionally wonky but overall a good case for how the dismal science can make the world less—well, dismal.

Pub Date: Nov. 12, 2019

ISBN: 978-1-61039-950-0

Page Count: 432

Publisher: PublicAffairs

Review Posted Online: Aug. 28, 2019

Kirkus Reviews Issue: Sept. 15, 2019

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