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MONEY MASTER THE GAME

7 SIMPLE STEPS TO FINANCIAL FREEDOM

Great airplane reading on the way to that private island and sure to occasion a few adjustments in one’s portfolio.

Robbins owns his own island. Why don’t you?

It’s just a “small island paradise,” mind you, but it doesn’t hurt that Robbins has amassed a considerable chunk of change by building a life-coaching empire. Of course, there’s a certain obnoxiousness attendant in telling an audience that you’re rich, but the promise that the audience can be rich too has its own charms. Robbins seldom ceases to be rah-rah in his belief that if readers just suspend disbelief and follows “the 7 Simple Steps in this book”—the proprietary caps are his—then the big win can’t be far behind. Obnoxiousness aside, the author is no slouch; for this book, he’s interviewed and studied the portfolios of numerous billionaires (ordinary millionaires need not apply) to find out the secrets of their success, many of which fall into his own simple-step septet. It would steal Robbins’ thunder to reveal them, but one bit of general counsel that makes good sense is offered by JP Morgan Chase investment whiz Mary Callahan Erdoes: “You can never be out of balance in taking care of yourself as a person, taking care of your work as a professional, taking care of your family, taking care of your friends, your mind, your body.” On the matter of balance, Robbins offers a seemingly counterintuitive dis-recommendation of the old balanced-portfolio mantra, which, he holds, can put the holder at unnecessary risk; that provocative advice alone is worth the cover price. Of course, the rules vary from billionaire to billionaire; they call to mind Somerset Maugham’s witticism, “There are only three rules for writing a novel. The trouble is, no one knows what they are.” Still, Robbins’ common-sensical, relentlessly positive, often highly specific advice is both useful and inspirational—which is just as advertised.

Great airplane reading on the way to that private island and sure to occasion a few adjustments in one’s portfolio.

Pub Date: Nov. 18, 2014

ISBN: 978-1-4767-5780-3

Page Count: 512

Publisher: Simon & Schuster

Review Posted Online: Oct. 19, 2014

Kirkus Reviews Issue: Nov. 1, 2014

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GOOD ECONOMICS FOR HARD TIMES

Occasionally wonky but overall a good case for how the dismal science can make the world less—well, dismal.

“Quality of life means more than just consumption”: Two MIT economists urge that a smarter, more politically aware economics be brought to bear on social issues.

It’s no secret, write Banerjee and Duflo (co-authors: Poor Economics: A Radical Rethinking of the Way To Fight Global Poverty, 2011), that “we seem to have fallen on hard times.” Immigration, trade, inequality, and taxation problems present themselves daily, and they seem to be intractable. Economics can be put to use in figuring out these big-issue questions. Data can be adduced, for example, to answer the question of whether immigration tends to suppress wages. The answer: “There is no evidence low-skilled migration to rich countries drives wage and employment down for the natives.” In fact, it opens up opportunities for those natives by freeing them to look for better work. The problem becomes thornier when it comes to the matter of free trade; as the authors observe, “left-behind people live in left-behind places,” which explains why regional poverty descended on Appalachia when so many manufacturing jobs left for China in the age of globalism, leaving behind not just left-behind people but also people ripe for exploitation by nationalist politicians. The authors add, interestingly, that the same thing occurred in parts of Germany, Spain, and Norway that fell victim to the “China shock.” In what they call a “slightly technical aside,” they build a case for addressing trade issues not with trade wars but with consumption taxes: “It makes no sense to ask agricultural workers to lose their jobs just so steelworkers can keep theirs, which is what tariffs accomplish.” Policymakers might want to consider such counsel, especially when it is coupled with the observation that free trade benefits workers in poor countries but punishes workers in rich ones.

Occasionally wonky but overall a good case for how the dismal science can make the world less—well, dismal.

Pub Date: Nov. 12, 2019

ISBN: 978-1-61039-950-0

Page Count: 432

Publisher: PublicAffairs

Review Posted Online: Aug. 28, 2019

Kirkus Reviews Issue: Sept. 15, 2019

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BRAVE ENOUGH

These platitudes need perspective; better to buy the books they came from.

A lightweight collection of self-help snippets from the bestselling author.

What makes a quote a quote? Does it have to be quoted by someone other than the original author? Apparently not, if we take Strayed’s collection of truisms as an example. The well-known memoirist (Wild), novelist (Torch), and radio-show host (“Dear Sugar”) pulls lines from her previous pages and delivers them one at a time in this small, gift-sized book. No excerpt exceeds one page in length, and some are only one line long. Strayed doesn’t reference the books she’s drawing from, so the quotes stand without context and are strung together without apparent attention to structure or narrative flow. Thus, we move back and forth from first-person tales from the Pacific Crest Trail to conversational tidbits to meditations on grief. Some are astoundingly simple, such as Strayed’s declaration that “Love is the feeling we have for those we care deeply about and hold in high regard.” Others call on the author’s unique observations—people who regret what they haven’t done, she writes, end up “mingy, addled, shrink-wrapped versions” of themselves—and offer a reward for wading through obvious advice like “Trust your gut.” Other quotes sound familiar—not necessarily because you’ve read Strayed’s other work, but likely due to the influence of other authors on her writing. When she writes about blooming into your own authenticity, for instance, one is immediately reminded of Anaïs Nin: "And the day came when the risk to remain tight in a bud was more painful than the risk it took to blossom.” Strayed’s true blossoming happens in her longer works; while this collection might brighten someone’s day—and is sure to sell plenty of copies during the holidays—it’s no substitute for the real thing.

These platitudes need perspective; better to buy the books they came from.

Pub Date: Nov. 1, 2015

ISBN: 978-1-101-946909

Page Count: 160

Publisher: Knopf

Review Posted Online: Aug. 15, 2015

Kirkus Reviews Issue: Sept. 1, 2015

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