Book Review: The Economic Naturalist by Robert H. Frank June 14, 2009
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Author: Robert H. Frank
Title: The Economic Naturalist (Why economics explains almost everything)
Reviewer: Leong Hoe Wah (June 2009)
The Economic Naturalist : Why Economics Explains Almost Everything, is the author, Robert H. Frank’s answer to one burning question in his long teaching career – how to make learning economics fun for his students. As a professor teaching economics in Cornell University, he constantly struggles to find better ways to teach the basic principles of economics to his students without relying solely on complex graphs and dry theories.
Robert Frank figures the better way for his students to learn economics is to have them understand the impact economics has on everyday things. To do that, he compiled a list of questions his students have on things in their daily life and he answers those questions in this book using economics principles and theories.
Through his answers, he manages to illustrate the effects of economics on everyday things (from Why is milk sold in rectangular containers? to Why equally talented workers doing the same job aren’t paid the same salary?) using basic economic principles such as Cost-Benefit principles, Economy of Scale, Demand and Supply dynamics and Opportunity Cost.
Although the author lost a bit of focus along the way by including factors other than economics like history, human psychology and governmental rules & regulations, his book delivers its promise to give readers interesting insights on how economics has substantially influences many things in our daily life from the design of products we use to the wages we take home.
The Economic Naturalist is a must read students of economics as it contains tons of examples to supplement those graphs and theories that your lecturer has been trying to drill into your head. For the rest of us, the interesting questions in the book can be a good conversation starter and knowing the answers to those questions (like the one about why there are salary differences amongst equally skilled workers) will certainly help you make better decisions regarding your career & finance.
* Have you read The Economic Naturalist by Robert H. Frank? What do you think about his book? Have you read his other books? *
Book Review : The Richest Man in Town May 21, 2009
Posted by leonghw in Book Reviews.Tags: book review, randall jones, richest man
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Title: The Richest Man in Town (The Twelve Commandments of Wealth)
Author: W. Randall Jones
Book Cover - Richest Man in Town
You’ve probably wondered what makes the mega rich who they are. What makes them tick? Are they pre-programmed to be successful?
Wonder no more. Through extensive interviews with the Richest Men in US towns, the author (W. Randall Jones) has compiled their reasons for their success into a list of 12 commandments – mindsets & principles common amongst these Richest Men.
To be highly successful, they start strong. These Richest Men do things they are naturally good at that society values and rewards them for it.
Coupled with timeless qualities like persistence, ability to accept and learn from failures, willingness to put in the hard work and most importantly ability to re-invent or change according to the environment, these Richest Men – from owners of high tech companies to less glamorous companies selling furniture – have managed to build their massive fortunes.
There are short stories illustrating how the 12 commandments are put into action. But if you are short of time, you can skip to the end of each chapter and read the key lessons highlighted in bullet points.
While short on action plans, The Richest Man in Town is definitely worth a read, if you’re looking for general guidelines and mental frameworks that you can refer to on your way to building your own fortune.
