Book Review: The Ascent of Money

This is another book I started to review and then didn't finish.  I enjoyed this book a lot, I remember that clearly.  But now that I'm a year or more away from it, I can't remember much else about it.  Of course, that's why I write these book reviews in the first place, so it's not really fair to the book.  But at the same time, I do remember being a bit underwhelmed by it.  Ferguson's books are all now done in conjunction with the BBC for televisions specials.  And so each chapter reads a bit like a little episode of a show.  "Today: the Dutch Tulip Bubble!"  Still, it's fun stuff, even if at times he used some fairly technical jargon without explaining it.  Perhaps I'll have to just watch the show and review that instead.  Or, dear reader, you could read the book and post a comment reminding me of why I liked it.

Book Review: Freedom from Fear, Part I

Funny.  I just realized I'd started a draft review of (half) of this book and never finished or posted it.  A little context is in order: I was reading books on finance during the height of the financial crisis, as many people were.  And the granddady of them all, The Great Depression, was written about by a former professor of mine, David M. Kennedy.  (Kennedy was the greatest college-class lecturer I had.  I loved going to class when he was teaching; his lectures were cogent, beautiful, and polished.  They were like performances--at the start of one my friend Dave turned to me and said, "I've heard this one before, it's great!")

Kennedy's Pulitzer Prize winning book, Freedom from Fear is about the Great Depression and World War II.  As I'd written in my draft (at a time when this seemed an open question), "the good news is this: We Are Not In The Second Great Depression. Not because times are good right now, but because the Depression was so bad."  Not just in the sense of economic hardship as we see it today, but in the sense of real, grinding, crushing, poverty.  Nicole's grandmother told us that for a while she ate beans every day during the Depression.  Even for people who've lost jobs and hurting, the occasional McDonald's cheeseburger is probably not out of reach.

So just to appreciate how good we have it, it's worth reading about the Depression. But the book is fascinating in other ways.  The Hoover Administration didn't just ignore the Depression, but everything they tried wasn't nearly enough.  And there was this sense of American optimism that things would be fine that is very reminiscent of how the economists and policy makers in 2007 said everything would just be contained to subprime.  The lesson is that things can get out of control so fast that no one sees it coming.  It's scary and we're lucky to have pulled back from the precipice.

There are probably lots of other great books about the Depression, but this book certainly covered what I wanted to know.  I know from my class with Prof. Kennedy that the second half about WWII will be incredible, but I've put the book away and moved on for now.

Book Review: Union Atlantic

This book has beautiful dust jacket.  It's artistic and beautiful and printed on great paper.  The whole way through this book I kept worrying I was hurting the dust jacket.

Of course, you're supposed to get lost in a book and not be worried about the dust jacket, and I just couldn't do it here.  Everyone who reviewed this book, it seems, loved it.  And the book is so timely!  It's about a big bank that fails and has to get bailed out by the Federal Reserve, yet it was written before the financial crisis!  Therefore, the reviewers said, it tells us something important about our times.  Except it doesn't really.  The author went to Yale Law School and he has a pretty basic liberal understanding of the world.  Money is bad and the people who make and spend money are bad and we're all their slaves.  That's true of course, but we all got that memo, even before the financial crisis.  But the book isn't really about the financial crisis at all.  The Bank doesn't get into real trouble until 2/3 of the way through. Instead it's about a group of characters who I just couldn't get that into.  People who are sad self-medicate with money and we're meant, I suppose, to feel pity and condescension towards them even though they think of themselves as better than us.  OK, I just don't have time for that.  I finished the book only because (a) it was a gift from Nicole who read the same glowing reviews as I, and (b) I kept hoping something would happen.  But by the time it did, I just didn't much care.

Book Review: Rework

This was one of the best, most fun, and inspiring books I've read in a long time.  It's written by a couple of guys who run a web-based business and it filled with their lessons on how to run a company.  But even though I work for the government and not a private company, I still found it great.  Much of what they have to say is just about how they way people work today is often ridiculous and counter-productive.  I think the "Don't Treat People Like 13 Year Olds" should be standard reading in every IT Department (why is it that so often something useful that's only a mild security risk gets disabled and people find themselves resorting to things that are bigger security risks?).

The book is short, but consciously so.  The authors cut the number of words in half between the second-to-last version and the final version.  Yet there's no chance that doubling the size would have made it any better.  And that's a pretty good summary of their advice.  Do what needs to be done and focus on making that part the best part.  You can have a hot dog stand without condiments or drinks or a colorful umbrella, but not without hot dogs.  Send people home at 5; fire the workaholics; resumes don't actually tell you anything (nor does GPA or school attended or years of experience).  Bottom line: there's a lot of truth in this book that almost everyone I know understands and yet somehow gets smothered in most of the institutions we work for.  I'd like to give this book to just about everyone I know who holds a job.

White Noise versus The National Security Strategy

This is an excerpt from President Obama's National Security Strategy:

Effectively Manage Emergencies: We are building our capability to prepare for disasters to reduce or eliminate long-term effects to people and their property from hazards and to respond to and recover from major incidents. To improve our preparedness, we are integrating domestic all hazards planning at all levels of government and building key capabilities to respond to emergencies. We continue to collaborate with communities to ensure preparedness efforts are integrated at all levels of government with the private and nonprofit sectors. We are investing in operational capabilities and equipment, and improving the reliability and interoperability of communications systems for first responders. We are encouraging domestic regional planning and integrated preparedness programs and will encourage government at all levels to engage in long-term recovery planning. It is critical that we continually test and improve plans using exercises that are realistic in scenario and consequences. 

This is an except from a book I loved, Don Dellilo's White Noise:

"That's quite an armband you've got there.  What does SIMUVAC mean?  Sounds important."

"Short for simulated evacuation.  A new state program they’re still battling over funds for."

"But this evacuation isn't simulated.  It's real."

"We know that.  But we thought we could use it as a model."

"A form of practice?  Are you saying you saw a chance to use the real event in order to rehearse the simulation?"

"We took it right into the streets."

"How is it going?"  I said.

"The insertion curve isn't as smooth as we would like.  There's a probability excess.  Plus which we don't have our victims laid out where we'd want them if this was an actual simulation.  In other words we’re forced to take our victims as we find them.  We didn't get a jump on computer traffic.  Suddenly it just spilled out, three-dimensionally, all over the landscape.  You have to make allowances for the fact that everything we see tonight is real.  There's a lot of polishing we still have to do.  But that's what this exercise is all about."

Book Review: Hamlet's Blackberry

I tend to read a fair amount of news, and I pretty regularly read the New York Times and the Wall Street Journal. I've noticed that, after a decent interval, one of those newspapers will run a story that the other has already run. They're never completely the same, but they're pretty close. And I don't mean run-of-the-mill daily news, I mean the kind of feature stories that one would think ought to be unique. 


I bring that up because this weekend the Journal ripped off a feature from Wired magazine.  Both features offer a sort of debate between about whether the Internet is making us smarter (WSJ, Wired) or dumber (WSJ Wired).  Nicolas Carr, whose new book is about how the Internet is making us shallow thinkers, is on the "dumber" side.  For example, he says that studies show that the mere presence of links in an article degrades our ability to retain information--even if we don't actually click the links--because our brain is distracted by the need decide whether or not to click them (so, sorry about those links up there).  On the "smarter" side is Clay Shirky (in the Wired article he's joined by Dan Pink) who's noticed that we spend a lot of time watching TV (surprise!).   That TV time might be more productively spent, say, adding information to Wikipedia. For example, Shirky's Journal article cites a statistic that the total number of hours people have spent editing Wikipedia is about equal to the number of hours Americans spend watching TV ads over a weekend. (Makes the Wiki-geeks seem less geeky doesn't it?)


I bring these news stories up because they demonstrate a large theoretically debate going on about the promises and perils of the Internet and I recommend either feature, although the Journal articles are not free.  But those article don't do what William Powers' Hamlet's Blackberry does: offer some practical thoughts about how we are all living today with interruptive technology.  I wish everyone would read the book, especially the people who won't like it. For many of us, the constant mind-candy and threat of being always reachable is degrading our lives. Work never leaves us and we can develop the feelings of a "hunted mind." But we cannot blame just our employers, we spend our free time scratching at our smart-phones like crack(berry) addicts.  I am, after all, typing this on my shiny new iPad.


Powers' book is great and simple but not simplistic.  He reviews 7 philosophers from Plato to Seneca to Ben Franklin to Thoreau who lived in times of fast-paced technological change, and he pulls out practical wisdom from each. At the end of the book he details his family's habit of having an Internet Sabbath each weekend. No in-home Net access; they must walk to the library if they must get online. Powers finds this liberating and good for family togetherness. We plan to try it. 


So I highly recommend that people read the book and spend some time thinking about how well we are integrating technology into our lives (and letting our employers have more of our time than we'd often like). What's funny is that I heard about this book in an interview on the Monocle weekly podcast (#59). And a few weeks later the interviewer (and founder of the Monocle) Tyler Brûlé  wrote a column in the Financial Times about how he can't stand people who have out-of-office replies on their email.  He thinks they must only do that because they hate their jobs and so they should quit and be entrepreneurs like him. (And he thinks they're the sort of people who wear sweatpants.). But not everyone wants to be connected all the time and I really wish that Mr. Brûlé  would spend some more time pondering William Powers' excellent book.

Book Review: Born To Run: A Hidden Tribe, Superathletes, and the Greatest Race the World Has Never Seen

Pasted below is Nicole's review -- I couldn't have said it any better myself:
***
I am such a book evangelist. I go into it with the same verve: “You have to read this book. It is so amazing.” And away I go, telling the person in front of me how great this book I just read is. Ugh. So annoying.

But I am at it again. I just read Born to Run. Brent and I both read it. And loved it. Brent was a runner in college, for exercise sake. I have never been too good at running, but a few years ago I had this dream about running, where it was fun again, like when I was a kid. I jumped over things and ran under logs. It made me long to run again.

About six weeks ago I started running. Slowly. One Mile. I am up to 2 miles at a go. I run until I don’t feel good, then walk. I started running because every “weight loss” book/story of success I have seen, the person has begun running.

But the book was an after thought. And what an inspiration it is. The book just makes you want to get out there and do it...barefoot. Who needs Nike? Since the advent of the running shoe in the 1970’s running injuries have steadily increased. “Shoes block pain, not impact. Pain teaches us to run comfortably. From the moment you start going barefoot, you will change the way you run.”

Did you know the foot comprises one quarter of all bones in the body and more than 200,000 nerve endings? Over 2 million years has lead to a very well designed foot for running. Putting a shoe between your foot and the ground, means those nerve endings are deadened. We don’t need shoes; we need to get off the couch. Because we are wearing shoes, our feet muscles have atrophied. The book makes the argument that our evolutionary advantage was our ability to run, unlike other species near to ours.

“Heavier people are more likely to die from at least ten different kinds of cancer.” Who knew the exact numbers?

“When cancerous tumors are removed by surgery, they are 300 percent more likely to grow back in patients with a ‘traditional Western diet’ than they are in patients who eat lots of fruits and veggies, according to a 2007 report by The Journal of the American Medical Association.” To read the actual study, click this sentence.

I have started using my Vibram FiveFingers to run, and it is so much more fun. I am really enjoying feeling the ground, standing up straighter, and breathing better. It is really amazing.

The book talks about racing, and ultra-racing, and touching moments, and high drama. It makes you want to run. So run right out and get the book!