Why Nations Fail by Daron Acemoglu and James Robinson

For all dedicated macro economists and anyone who wants some good news as to the future of the United State’s economy, Why Nations Fail is a book that I highly recommended for you. Why Nations Fail: The Origins of Power, Prosperity, and Poverty is a new book by Daron Acemoglu and James Robinson. Daron Acemoglu is the Killian Professor of Economics at MIT and James Robinson is the David Florence Professor of Government at Harvard University.

This delightful book is the most extensively researched and easy to follow ‘pure’ economics book that I have read. I classify this as a ‘pure’ economics books as opposed to the recent and popular behavioral economics books, such as those by Steven Levitt (see Freakonomics: A Rogue Economist Explores the Hidden Side of Everything), which themselves are also well researched and written but focus on topics more familiar to a larger number  of readers. The goal of Why Nations Fail is to explain just that; why some nations fail while others succeed. This goal is obtained by providing very simple concepts supported by an abundance of historical and modern day case studies.

Don’t worry if you are an economics novice, Why Nations Fail does not require any pre-requisite degrees, classes or knowledge of economics!

The book opens with a brief account of the recent events in Egypt. As we are all aware, the citizens of Egypt have not been happy with their plight and have recently risen up to precipitate changes within the government. The interesting question that only time will answer is will a regime change in Egypt lead to any increased prosperity for its citizens? This book explores the factors that will determine the fate of Egyptians.

The Man Without a Face by Masha Gessen

As the 2012 Presidential elections are gearing up consider this scenario; the sitting US Vice-President leaves office and is replaced by an obscure government official about which little is known. The President then steps aside and the relatively unknown VP is now sitting on the Oval Office. The new President begins to methodically revert the country back to less democratic days; say by removing women’s right to vote and eliminating the direct election of Senators until more and more power is concentrated at 1500 Pennsylvania Avenue.

Does this sound like the farfetched plot of a bad movie? Unfortunately not. An eerily similar scenario has played itself out in Russia starring Vladimir Putin according to the new book The Man Without a Face: The Unlikely Rise of Vladimir Putin by Masha Gessen. Gessen, a well-established author and journalist and citizen of both Russia and the United States, has written what is likely her most aggressive and controversial work.

Admitting to myself that I am not at all familiar with the former and now again President of Russia I was interested in learning how unlikely his rise to power truly was. The one shortcoming of the book is that Gessen is not able to fully explain, which is likely due to a lack of clear, reputable information, Putin’s rise from humble beginnings to the leadership of the country. This shortcoming is quickly overlooked because the book paints a very vivid and frightening picture of recent developments in Russia during the Putin regime.

Island of Vice: A Q&A with author Richard Zacks

Island of Vice: Theodore Roosevelt's Doomed Quest to Clean Up Sin-Loving New York by Richard Zacks, is also the author of The Pirate Coast: Thomas Jefferson, the First Marines, and the Secret Mission of 1805 and The Pirate Hunter: The True Story of Captain Kidd.

Island of Vice tells the fascinating and often funny story of when young Theodore Roosevelt was appointed police commissioner of New York City, and had the astounding gall to try to shut down the brothels, gambling joints, and after-hours saloons. See my book review here.

Thanks Richard for taking time from your busy schedule to answer a few questions.

Q: Why did you write Island of Vice?

A: Among other reasons, I wrote it so that I would be paid to research vice in 1890s NYC. I had started a novel and realized that there was a better non-fiction book idea here. I loved finding authentic 1890s details about brothels, etc. and also watching this strange experiment in municipal government: Tammany Hall's pay-as-you-go vs. Roosevelt's righteous by-the-book crusade. Ultimately neither approach in its most extreme form is feasible.

Q: In the book you relate how after Roosevelt left the Police Commissioner position, New York City regressed further back into a world of vice. How much of the blame for this should be placed on Roosevelt’s successors?

Fanatic Risk Acceptance: A Tragic Tale One Century Later

I found it very ironic that last week I was co-facilitating a session on Risk Management as part of the Project Management Institute Upstate New York Chapter’s PMP Exam Prep class. As defined in the Project Management Institute’s Project Management Body of Knowledge (PMBOK) one of the inputs to the Plan Risk Management process is Enterprise Environmental Factors.  The PMBOK defines this input as:

“The enterprise environmental factors that can influence the Plan Risk Management process include, but are not limited to, risk attitudes and tolerances that describe the degree of risk that an organization will withstand.”

As part of the exam prep session we review the need to understand which project constraints (time, cost, scope, or quality) organizations and sponsors are most sensitive, to be used as an input in the process of ranking project risks. For example if you are working on a project which your organization’s CEO or state’s Governor has publically announce a date for deployment, your project will be more sensitive to risks that would impact the schedule.

Situations Matter: A Q&A with author Sam Sommers

Situations Matter: Understanding How Context Transforms Your World is the highly acclaimed book by Sam Sommers which provide an exploration of the invisible forces influencing your life-and how understanding them can improve everything you do. I recently had a chance to connect with Sam and ask him a few questions about his insightful book.

Thanks Sam for taking time from your busy schedule to answer these questions.

Q: Why did you write Situations Matter?

A: My goal in writing the book was to bring renewed attention to just how influential context is in our daily lives: the ways in which it shapes how we think, what we do, and who we are as people. I know it seems like an obvious premise-- of course the situations we're in matter. But we don't come close to grasping the full extent to which this is the case or just how far-reaching the implications of this conclusion really are. My argument in the book is that by learning about the science of how contexts shape human nature we become more effective people across a wide range of domains, both professionally (e.g., working in groups, managing people, negotiations) and personally (e.g., parenting, social relationships, how we think about the self). So it's very much a story about the psychology of daily life, which makes it useful as well as fun-- it's an integration of behavioral science, pop culture analysis, personal anecdote, and humor, all in the effort to paint a more complete picture of what makes people tick.

The Start-Up of You by Reid Hoffman and Ben Casnocha

Are you an entrepreneur? Yes you are, or should be thinking of yourself as an entrepreneur if not already doing so is the case that Reid Hoffman and Ben Casnocha make in their new book The Start-up of You: Adapt to the Future, Invest in Yourself, and Transform Your Career.  Hoffman, a former employee of Google and Paypay, is more widely recognized as a co-founder to Linked-In, the largest professional social network on the internet. Ben Casnocha is an accomplished author and entrepreneur.

The authors open the book by describing how much the world of work has changed in the last generation. Because company pension plans are now rarer then unassisted triple plays, more and more senior employees are postponing retirement which ultimately results in fewer opportunities for managers to continue their climb up the corporate ladder. Additionally fewer companies are able to provide their employees with training they need to make them more marketable.

Island of Vice by Richard Zacks

Who is “Ted-dy” Roos-e-velt?

First in war, first in peace.

First to reform the New York Police.

This is how Theodore Roosevelt, then a New York City Police Commissioner, was greeted by a thousand University of Chicago students before giving a speech on George Washington’s birthday. The ironic revelation of this greeting, as noted by Richard Zacks in his new book Island of Vice: Theodore Roosevelt's Doomed Quest to Clean Up Sin-Loving New York, is that at this time Roosevelt was more popular outside New York City than within the city he was cleaning up. Zacks is the author of several books including; The Pirate Coast: Thomas Jefferson, the First Marines, and the Secret Mission of 1805 and The Pirate Hunter.