Book Bits: Climate Change, Pandemics, WFH And Their Effect On Economy

● Investing with Keynes: How the World’s Greatest Economist Overturned Conventional Wisdom and Made a Fortune on the Stock Market
Justyn Walsh
Review via The Wall Street Journal
When Keynes died in 1946, his net assets totaled some $30 million in today’s money. While his books had sold well, he had made the bulk of his fortune by investing smartly, often from his bed in the mornings after digesting the news. During his 25 years running the King’s College endowment, he generated an annual return of 16%, adapting his investment style to flourish even during the Great Depression and World War II.
Mr. Walsh, a former investment banker and the chief executive of an asset-management firm, explains how.

 

● Adapting to Climate Change: Markets and the Management of an Uncertain Future
Matthew E. Kahn
Summary via publisher (Yale U. Press)
It is all but certain that the next century will be hotter than any we’ve experienced before. Even if we get serious about fighting climate change, it’s clear that we will need to adapt to the changes already underway in our environment. This book considers how individual economic choices in response to climate change will transform the larger economy.
Using the tools of microeconomics, Matthew E. Kahn explores how decisions about where we live, how our food is grown, and where new business ventures choose to locate are impacted by climate change.

● The Whiteness of Wealth: How the Tax System Impoverishes Black Americans–and How We Can Fix It
Dorothy A. Brown
Excerpt via Marketplace.org
The wealth gap isn’t growing only because of the dispro­portionate percentage of black Americans in poverty. It’s growing because whiteness has consistently and continually played a serious role in wealth building. Think a college edu­cation is an equalizer? Research shows that black households headed by a college graduate have less wealth ($23,400) than white households headed by a high school dropout ($34,700). Think all high school dropouts struggle? A white high school dropout has more than twenty times the wealth of a black high school dropout ($1,500). White families with an em­ployed head of household have ten times the wealth of black families who do.

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Disclosures: None.

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