An everyman’s chronicle of the Great Recession, one that laments what was lost but leaves room for hope in American...
A blow-by-blow account of the 2008–2009 financial meltdown from the Main Street perspective.
Clark, the host of the “Kevin Clark Business Minute” radio show, explores how the 2008 crash underscores the divide between Washington and the average American. The Michigan-based financial advisor compiled his weekly radio commentaries during the financial collapse into a diary of sorts that captured the anxiety felt in America’s heartland while leaders struggled to get the economy back on track. After Lehman Brothers folded, several other financial institutions entered dire straits, shattering the dreams of regular people; Clark was “overwhelmed, frustrated and angry.” He exhorted his listeners to believe in American perseverance, although his writings reflect the gloom brought on by a plunging stock market and double-digit unemployment. A journal entry reveals how the financial-services veteran of 27 years found himself bewildered by the fallout: “I find the amount of wealth destroyed in the past six months as truly staggering.” Along with a timeline that follows every turn of the Dow Jones Industrial Average, the book delves into possible long-term implications. Clark frets about inflation and the expansion of government amid news of corporate bailouts, Federal Reserve bond-buying and ballooning national debt. But the author is at his best when he puts a human face on the calamity. The story of a retired couple who lost their savings reminds us that recessions are more than declines in GDP. Clark sometimes criticizes the Obama administration, and he discloses that he served on Republican Pete Hoekstra’s unsuccessful campaign for governor. While the book doesn’t shy away from the intersection of politics and finance, it’s more about protecting average investors than pushing policy. Clark seeks to educate, and his homespun parables mitigate the jaded tone that sometimes creeps in. The result is a blend of pragmatism and optimism that speaks to a truth of investing: Opportunity is often found somewhere between fear and fact.
An everyman’s chronicle of the Great Recession, one that laments what was lost but leaves room for hope in American resiliency.Pub Date: Oct. 12, 2011
ISBN: 978-1599322810
Page Count: 284
Publisher: Advantage Media Group
Review Posted Online: April 27, 2012
Review Program: Kirkus Indie
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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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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