Book Bits: 8 New Books About The World Of Money

● The Power of Creative Destruction: Economic Upheaval and the Wealth of Nations
Philippe Aghion, et al.
Review via The Economist
Joseph Schumpeter thought capitalism was doomed. Incumbent firms would grow too powerful, leading to corruption and, eventually, socialism. His mid-20th-century pessimism has become fashionable today, as societies grapple with inequality, climate change and tech giants. Yet some of Schumpeter’s professional heirs are optimists. In “The Power of Creative Destruction” Philippe Aghion, Céline Antonin and Simon Bunel, three economists, apply his most powerful idea to contemporary debates in their discipline. The result is sweeping, authoritative and—for the times—strikingly upbeat.

 

● The Wealth Hoarders: How Billionaires Pay Millions to Hide Trillions​
Chuck Collins
Interview with author via Jefferson Public Radio
It’s no secret that people with lots of money make some effort to shield their money from taxes. In the United States, there are many loopholes to the tax codes, with the result that some very wealthy people pay lower effective tax rates than their middle-class employees. Chuck Collins, heir to the Oscar Mayer fortune and an expert on inequality, shows just how extensive tax avoidance is in his book The Wealth Hoarders: How Billionaires Pay Millions to Hide Trillions. Collins gives an overview of just how much work the “one percent” goes through to shield its money from taxation.

● Richer, Wiser, Happier: How the World’s Greatest Investors Win in Markets and Life
William Green
Review via The New York Times
In fact, the idea of learning investing secrets of the pros has been around so long that when I worked at Forbes and Business Week in the 1980s, my colleagues and I joked that the typical Fortune cover was “How Bill Gates Made a Billion Dollars, and You Can, Too.”
But to his credit, Mr. Green manages to make the book worth your while, whether you pick your own stocks and buy actively managed mutual funds or are looking for confirmation that index funds are the way to go.

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Disclosures: None.

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