BOOK REVIEWS BY THINZAR
How Economics Explains the World
As we navigate daily world news, we encounter headlines about wars, global markets, and cities grappling with climate change. How can we make sense of these interconnected topics to guide better decision-making for the future? In How Economics Explains the World: A Short History of Human History, Harvard-trained economist Andrew Leigh argues that economics offers the tools to answer these questions and improve our lives.
How Big Things Get Done
The expertise and experience required to manage large-scale, complex projects are becoming increasingly crucial, particularly as the world tackles transformative initiatives such as combating climate change. In their book How Big Things Get Done: The Surprising Factors That Determine the Fate of Every Project, from Home Renovations to Space Exploration and Everything In Between, Bent Flyvbjerg and Dan Gardner explore why projects—both large and small—often fail.
Making Sense of Chaos
In Making Sense of Chaos: A Better Economics for a Better World, Farmer emphasizes that statistical analysis can help us understand the present but can infer future trends only if underlying behaviors remain consistent. He advocates for complexity economics, which analyzes networks of balance sheets from the bottom up, treating the economy as a dynamic system using “as-is” reasoning rather than hypothetical “as-if” models. Unlike traditional models, complexity economics builds from the granular interactions between agents, emphasizing dynamic systems and the inherent uncertainty of economic behaviors.
The Changing World Order
In Principles for Dealing with the Changing World Order, Ray Dalio explores the history of global power shifts over the past 500 years, focusing on the rise and fall of the Dutch, British, and American reserve currency empires and the past 1,400 years of Chinese dynasties. Dalio brings readers into the present, drawing historical insights into wealth, power, and stability dynamics.
Power & Progress
Technology leaders are captivated by AI’s potential to reshape society economically, politically, and socially. While many are influenced by these visions, an alternative view argues that automation and data collection primarily benefit those controlling digital technologies. In Power and Progress: Our Thousand-Year Struggle Over Technology and Prosperity, Daron Acemoglu and Simon Johnson demonstrate that globalization and automation have worked in tandem, driven by the desire to reduce labor costs and marginalize workers. Their research shows how AI can increase average productivity but may reduce workers' marginal productivity, reinforcing inequality rather than promoting shared prosperity.
How The Blood Of The Congo Powers Our Lives
The Democratic Republic of Congo (DRC) ranks 175 out of 189 on the United Nations Human Development Index, with over three-quarters of its population living below the poverty line. Despite this, the DRC’s wealth in cobalt—a byproduct of copper mining and a rare metal essential for lithium-ion rechargeable batteries used in smartphones, tablets, laptops, and electric vehicles (EVs)—offers a glimmer of hope for development. However, the potential prosperity from cobalt mining is overshadowed by the severe exploitation and human suffering associated with its extraction, making it unlikely that the DRC will truly benefit from this valuable resource.
The Prize - The Epic Quest for Oil, Money & Power
Goldman Sachs Research expects oil demand to peak at 110 million barrels a day by 2034. In a scenario with slower EV adoption, oil demand could even increase to 113 million barrels a day by 2040. The rise of renewable energy is reshaping the global energy landscape; however, it takes time to implement policies around renewable energies. When predicting oil demand, one cannot overlook the history of oil and geopolitical risks. Oil provides the point at which foreign policy, international economic considerations, national security, and corporate interests converge.
The Return of Geopolitics
The Return of Geopolitics - A Global Quest for the Right Side of History is a collection of essays that explore the evolution and contemporary relevance of geopolitics across different historical epochs. Originally published in 2022, the insights of the book remain pertinent to current global affairs. Contributors of these essays include professors, researchers, historians, authors, scholars, journalists, editors, and practitioners whose diverse perspectives form a rich tapestry of geopolitical discourse.
Complexities of Identity
Fareed Zakaria, a well-known CNN host, presents his latest work, Age of Revolutions, as a comprehensive exploration into the political, economic, and social landscape shaping the contemporary world. Spanning from the 1600s to the present day, Zakaria delves into pivotal historical events such as the Dutch Revolution, French Revolution, and Industrial Revolution, elucidating their enduring impact on global dynamics.
King of Diamonds
I stepped into the Argosy Book Store to view some collections of antique books. At the cashier counter, to my surprise, I discovered a pile of newly released books titled King of Diamonds: HARRY WINSTON — The Definitive Biography of an American Icon.
Poverty, by America
Matthew Desmond, a distinguished professor of sociology at Princeton University and the principal investigator of The Eviction Lab, is known for his extensive research on poverty in America, racial inequality, city life, and housing insecurity. He asserts that America cannot truly embody freedom until it confronts the morally urgent issue of poverty. The American public seems to believe the poor should change their behavior to escape poverty. However, as Matthew fiercely argued, it is economic security that leads to better choices. In his latest book – Poverty, by America – Desmond draws upon historical insights and research to educate readers about the traumatic nature of poverty and the American welfare state as a leaky bucket. He then advocates for readers to adopt the role of poverty abolitionists.
Microchips Are The New Oil.
The extraordinary inventions by exceptional minds such as Jack Kilby, John Bardeen, Walter Brattain, Mohamed Atalla, Dawon Kahng, Charlie Sporck, Andras Grof, Andy Groove, Bob Noyce, Morris Chang, Pat Haggerty, Gordon Moore, Carver Mead, and many others have fundamentally shaped the world’s reliance on semiconductors. Chris Miller’s Chip War: The Fight for the World's Most Critical Technology delves into the intricate details of how integrated chips did not only connect electronic components in innovative ways, but also how chips knit together nations in a network, with the United States at its center.
Burmese Haze
Growing up in Burma, I was aware that the country was under a dictatorship. However, my understanding of Burma’s intricate political landscape was limited. Cyclone Nargis, Burma’s worst natural disaster in early May 2008, and the Saffron Revolution, various peaceful protests led by Buddhist monks, students, and political activists in 2007 remain vivid in my mind. I left Burma for the U.S at the end of 2009, at a time when Burma was already undergoing the potential for political and economic transformations. Recently, I read Burmese Haze: US Policy and Myanmar’s Opening – and Closing by former intelligence analyst Erin Murphy, which triggered nostalgic recollections of my childhood and Burma.
Wealth, Happiness, and Greed
Morgan Housel is a partner at the Collaborative Fund. He was previously a columnist at The Wall Street Journal. He is a two-time winner of the Best in Business Award from the Society of American Business Editors and Writers, the New York Times Sidney Award, and a two-time finalist for the Gerald Loeb Award for Distinguished Business Writing. Barry Ritholtz, a host of Bloomberg Radio’s Masters in Business, names Morgan Housel as the most popular writer in finance today.
We Sent A Man To The Moon And Back
As conversations and discussions from the UNGA meetings last week continue to resonate, I thought about Mission Economy: A Moonshot Guide To Changing Capitalism by Mariana Mazzucato. Mariana Mazzucato is a professor in the Economics of Innovation and Public Value at University College London. She is also the founding director of the UCL Institute for Innovation and Public Purposes. She advises on global policymakers and is chair of the World Health Organization’s Council on the Economics of Health for All and a member of the UN’s High-level Advocacy Board on Economic and Social Affairs.
George Orwell & ChatGPT
I revisited George Orwell’s essay – Politics and the English Language – published in 1946. The essay criticizes the poor written English in the post-World War II era due to political manipulation and people using language to obfuscate and exploit vulnerable readers.
Rowing Against The Tide
One of my summer reads in 2023 was The Big Con: How the Consulting Industry Weakens Our Businesses, Infantilizes Our Governments, and Warps Our Economies by Mariana Mazzucato and Rosie Collington.
Do Not Reinvent The Wheel
The McKinsey Way Using the Techniques of the World’s Top Strategic Consultants to help You and Your Business by Ethan M. Rasiel was a book given to me by a friend a long time ago. The book has become my trusted manual that offers timeless and invaluable resource. The McKinsey Way does not need to be read in order.
Journey from India to Singapore to Bangkok
Deepak Ohri is a founder and CEO of lebua Hotels and Resorts. He is an award-winning entrepreneur in the luxury hospitality landscape in Asia. Deepak has lectured at Harvard Business School
Reimagining Capitalism In A World On Fire
I took a Corporate Social Responsibility (CSR) class at American University towards the end of my master's program. My fellow graduate students and I engaged in lively debates about the effectiveness of global CSR techniques across businesses, not-for-profits, and governments.