Business Money Books

This is such an easy read! I found it fascinating to learn that the Bible has so much scrpiture on money and how to spend, save, and tithe! It was required for pre-marraige counseling, and it offers examples, solutions, and comparisons between what society deems appropriate and what the Bible states! I really enjoyed it, and it provides practical solutions you can implement into your life!

This book came to my attention through a class told by Crown Financial. I have recommended "Your Money Counts" to numerous people and purchased a copy for my son. It is an excellent tool in learning how to budget and be a good steward of the money we possess.

This is a great book. It really doesn't tell you anything you don't already know, but it reminds us of where we are and what we should be doing as stewards of His belongings. I am a Financial Planner and I give it to my clients as gifts and they love it !

This is a fantastic book. It's easy and enjoyable to read. It tells you all those common sense things about money that we often lose sight of in this world's culture of materialism and 'gotta have it now' attitudes. I've read it multiple times and it just keeps driving home those truths you need to be reminded of like figuring out contentment, the value to giving and saving, etc.

I teach a seminar at our church on the Biblical approach to managing one's finances, and I use this book as a starting point. My students love it (one said she needs to go back and "marinade" in each chapter. Another pointed out that the while the title is "Your Money Counts", what he got from the book is "Y our Money Counts.") The bottom-line is that this book is an easy-read and makes it clear why God cares about our money matters, and it is equally clear how to apply those principles to succeed financially. I teach it once a year, and so far 90 students would vouch that what this book teaches works!

If you understand the fiscal situation this country is in, the place the elected & non-elected officials wanna take it, and what will happen after that has taken place, this book is dead on.

Monetary policy in this country(USA) has been flawed since the inception of the federal reserve system in 1913. The Monetarist economists(Widely known as Anna J Schwartz & Milton Friedman) blame the fed's lack of action as the cause of the great depression. They believe if the fed had intervened and created a little more inflation at the time the deflation was occuring(aka Deflationary Depression), the Great depression would have lasted only 1-5 years. Ben Bernanke (current FED Chairperson) believes this theory, that's why he's currently inflating that debt away through bail-outs.

On the other hand, Hard money Economists (aka Ludwig von Mises' Austrian school of economics) blames the fed completely for the Great Depression. Since their inception in 1913 the fed has fueled massive credit bubbles and the roaring 20's were no different. From 1913-1919 the fed increased the money supply by around 50% leading to the credit induced boom known as the roaring 1920's. When they finally called in all the inflationary credit they had put out, it killed the economy. Instead of letting the money stay out, they kept deflating the bubble which fueled the longest economic downturn in US history.

Today our economists and financial leaders will make sure not to repeat that mistake again. The system will not be allowed to go broke, almost everyone will get a huge bailout, and when they do, the countries who hold our short term US debt will begin dumping it, due to its losing value thanks to the bailouts.

If you believe the dollar is gonna take a hit over the next 5-10 years, then dedicating some of your portfolio (10-25%) to precious metals and watching what happens is going to be very exciting. If you paid attention to the 60s & 70s, you would notice some odd but scary similarities, huge needless wars followed by inflationary downturns in the economy. The 1970's bad economy was the price for the 1960's vietnam war. Remember, Nixon took us off the Gold Standard in 1971 when gold was only $35 an Ounce(today its ~$900). During the 70s the DOW Jones only gained 10 points but gold jumped almost 24 times, silver more. This time its gonna be a lot worse. I think physical silver is the best deal, as long as you can find some quality physical without a high retail purchase fee.

James turk is a pro and this book ranks high on the list of profit from the coming gloom & doom books. If you want to implement a section of your portfolio into precious metals this book is a great way to learn some very helpful tactics. He writes about what types of Precious Metals investments you can buy: Physcical(keep@home&vault), Paper(futures/options), Mining stocks, Numismatic, but doesn't really mention his world-renowned service called GOLDMONEY.com located in British Jersey,UK. I personally have an account with GoldMoney.com and I feel its a one of a kind service. It keeps part of your wealth outside the US, which is very important. My say is Pick up the book and Partake in the Precious Metals bull market that will last for the next 5-10 years minimum, and create some wealth during the bad times we're gonna go through :)

I also recommend the book CRASHPROOF by Peter Schiff (he recommends GoldMoney.com)

TO: Mr. John Rubino/Mr. James Turk BRAVO on your tour de force book that lays out the Truth, unencumbered, and with sobering and simple recommendations on how to save ones self from financial ruin in the next couple of years, and now for that matter.

The comparisons of other empires that have economically collapsed (due to fiat currencies, fractional reserve banking, etc), most mighty nations in history, is an invaluable inclusion to the beginning of the book to give unaware readers perspective at how close to the edge the United States is.

Since 2000, this is what I have been telling people and you both are the first ones I have really seen to make the case in clear terms and dire warnings, with simple steps to protect ones self.. You guys are the best and your book has been a GOLD mine, literally... You guys strike at the heart of the Truth and expose it good, bad, ugly..
This book is small enough, inexpensive enough, and valuable enough to buy a dozen copies and hand them out to relatives, good friends, and those you care about... Simple enough for the economic laymen (most of Americans) to wake up to! People with HUNDREDS of thousand's of USD$$$ in stocks, bonds, over leveraged homes/real estate, etc etc.. This book and information is vital to their future. They could save themselves but unfortunately many will choose not to and will bury their heads and follow the herd of "mainstream" money managers...

I will keep on tyring to wake people up and inform them of the peril ahead, though sadly few have listened to me since I was recommending gold at $320 in 2001 or so... Silver at $5 back then too... Sometimes I am ashamed to be American because of my fellow Americans who have lost their critical thinking skills, independent thought, discernment, and a healthy ongoing distrust of government and Elites... to be and STAY free and economically sound, as an individual, family, or nation, we MUST be informed, vigilant, and critical of all orthodox information and mainstream opinion and most of all, government promises...

You guys are the bright spots of Truth in American economics! BRAVO!

Oh Wow.. Every one should get this Bible. Amazing; it gives you deep details how to profit from precious metals, and gold on top of them. A question to all; who created Gold? Answer is "God." Now who created Dollar? Answer is "Human." In the end Who will win God or human? Answer is left to all of you!!

For anyone interested in the dynamics of our falling dollar, this book: "The Collapse of the Dollar and How to Profit from It" is a must read. I was led to it after reading the author's: "How to Profit from the Coming Real Estate Bust." I was delighted to find: "The Collapse of the Dollar's" paperback version updated (containing 2007 numbers)! It's amazing how visionary the author has been. Morover, the book is easy to read/understand. I highly recommend...

I bought the book when it first came out. More importantly, I ACTED on the book's advice. I bought gold, silver, Goldcorp(GG) and a lot more. Goldcorp was selling for about $12 per share at the time. Gold hadn't gone beyond about $430 per ounce. The dollar was trading much higher than it is now. Goldcorp is now at about $40 per share. Gold is near $950 per ounce. Silver is at $18 per ounce. Suffice it to say that if I ever have the chance to meet Mssrs Turk and Rubino in person, I will pick up the tab for dinner!
I had to smile when I read some of the reviews which have been posted on this site. I guess that some people still do not "get it" when it comes to the role of gold in protecting assets and purchasing power. Although the book's title speaks of making a fortune by investing in gold and hard assets, this book is not really a get rich quick book. It is a survival book. With everything that has been happening in the financial sector, the most important thing for all of us is to protect what we have!

The book does explain the basics well but they assume you may have had another type of finance class when it come to crunching numbers. This book was required for an online class I took and even the teacher was not impressed with this book. There needs to be more explanation and break down on how to perform calculations.

This book gives a good basic overview of the health care finance. Its best feature is that it is applied to health care only, so you don't have to go through other business models. I cannot see using it in the future though - if you are planning to manage your office/work on a budget/evaluate your organization from a financial stand point, this is not the book you will need.

An entrepneurship book worth your time and money! This book is more of a crash course in strategic entrepreneurship. The author is extremely qualified and passionate about the subject. The chapters are loaded with smart tips and valuable tools. I recommend this book for anyone who wants to be a global business leader. Finally, this book will get you thinking in ways to be a better entrepreneur.

Although I studied Entrepreneurism and now teach the subject at Waseda University in Tokyo Japan, I learned a number of things and synthesized a few things using Gordon's models that made it much easier for students to digest. This is the best book/text I know of to teach upper level undergraduates or beginning graduates students in management. I started an apparel company in 1989 and I wish I had this book as a guide. I made a lot of mistakes that I could have avoided using the information in this book.

It's a great idea by Donald Trump to encourage people willing to pursue entrepreneurship to support them with specific 'how to do' books. Unfortunately, this books lacks depth. While the book covers many subjects and its basics it lacks an indepth analysis of issues. I'm not saying that it has to become academic, I just need more information on an individual subject. Anyone who has read 'Extraordinary Entrepreneurship' knows what i mean. It's approximately 3 times thicker but contains 50 times more information on the art of entrepreneurship.

If you ever thought of starting your own business and wanted to test, develop and launch your idea against a variety of practical and proven market scenarios, Michael E. Gordon's Entreprenuership 101 positions you for stellar success.

Crafted in an engaging and illuminating literary style, Gordon's book and the man himself, walks the talk! As a veteran entreprenuer who broke out of the corporate confines of bureaucratic lethargy, Gordon followed the glint in his eye and built and sold a company on an idea that had all of the hallmarks of a true opportunity. What exactly is a real opportunity and how do you know if you've got one? Read the book, understand Gordon's customer model and get ready for the ride of your life! This is truly a life-changing handbook for anyone with even the slightest inclination towards entreprenuerial freedom.

Gordon's Entrepreneurship 101 is one of the best books I've ever read! This all-in-one business book ranges from the entrepreneur's mindset to the actions taken. It develops a series of unique frameworks, models, and tips for essential entrepreneurial "thriving forces," the forces that not only lead the entrepreneurs to be successful, but also shape their business to be promising. Through a systematic approach and interactive learning model professionally designed by the author, the book enriched me more solid skills of HOW to turn our idea into a money machine that produces sustainable long-term profit more easily. Another feature of this book I particularly like is that the various analysis tools briefed in charts and exhibits can be downloaded from the website for our personal use.

I also appreciate the writing style in clear and direct presentation, which sort of exposed me to quick digesting, to quick absorbing, to quick thinking, to quick acting, and to quick changing. The best part of this book is the "Action" section at the end of each chapter. After getting the entrepreneur's mindset and being trained to think and act like an entrepreneur, you can't wait to take actions to be a real, ambitious and successful entrepreneur!

I highly recommend this book to all my friends, business partners and the people who are reading my review: don't miss this book; this book may also work its inspirational magic on you! As a venture capitalist, I can confirm with you that the people who possess the spirit of Entrepreneurship 101 are our investment targets!

-- review written by Janice Wang

The Prize is a feast of a book. It is one of my all time favorites, including novels, biographies and the lot. Daniel Yergin, the author, makes a very exciting plot of the history of the oil business, starting in Pennsylvania in 1859.

The best parts, both analytical and epical, is where he writes about the upstream part of the oil business, ie. exploring, finding and producing crude. The story takes us from Pennsylvania, to Texas, Indonesia, Russia, Venezuela, Mexico, Persia, Kuwait and Saudi-Arabia to Alaska.

Yergins main thesis is that oil became a strategic commodity around 1900. Nations and governments want control over crude, because they are unable to conduct wars without it. Therefore they are willing to go to war to secure oil supplies, and availability of oil determined to a certain extent the outcome of WWII.

The book is also a very good account on general world history between 1859 and 1991. Interesting and fun anecdotes flourish, but Yergin is still keeping the analytical banner high. Fantastic book!

Daniel Yergin's well-researched and sourced book provides the oil-based context for much of what happened, happens, and will happen in politics and war. A must read for those who want to understand the world in which they live.

This significant tome is Daniel Yergin's fascinating, 1992 Pulitzer prize-winning account of the personalities, politics, adventures and misadventures behind the evolution of the ruthless global oil business. This authoritative, intelligent and highly entertaining book reports on the past, present and future of the commodity that shapes the world power struggle. Yergin delves knowledgeably into fulcrum events. For example, shortly before World War I, Winston Churchill made the fateful decision to convert British navy's fuel from coal to Iranian oil. This decision set off the modern Western quest for Middle Eastern oil. The world is still feeling its wrenching impact, and Yergin shows how and why. getAbstract finds that this book provides an essential context for understanding today's international conflicts.

Kind librarians should consider filing The Prize in the "Reference" section as a clear warning to readers. Yergin's book is a laboriously impressive volume of forgettable details by one of the oil industry's most gifted analysts. It is not a light bedtime or commuter train friend!

- The storyline lacks a cohesive theme
- There are no main characters (including the oil companies!) tying the narrative together
- Personalities appear and dissolve forever in rapid-fire succession, leaving little imprint on the storyline
- The chronology often spirals confusingly in time, digressing into analyses which exhibit all the charm of a workplace memo

Yergin has written an exhaustive business history using the wrong medium. I suggest chopping The Prize up into bite-sized pieces and posting it to a website. There, at least, the disjointed pages would bear no responsibility for drawing the reader forward.

I learned a great deal from this book, from the rise of Standard Oil, it's dissolution, wildcatters, and the rise of the Middle East. I now have a better understanding of the economics of oil. The knowledge this book covers is still applicable today, including Saudi Arabia's continued role in attempting to regulate oil prices, and the risks/rewards of offshore oil drilling, and why too low price of oil is bad (too high is obvious, as we all know with the summer-2008 gasoline prices). It should be required reading for all politicians and also should be read by anyone who voices an opinion (left or right-wing) on energy-related topics.

Highly recommended.

I just read this for the solar chapter, but found the company information quite good. Thank you.

I'm an experienced investor and found this book useful as an overview of the state of green investing. The advice seems objective and fair.
SW

Green Investing is a good primer on this emerging market. It's very well organized with loads of information on specific companies. it was worth the 15 bucks.

Its a great reference for the green investor with tips and advice for how to go about finding and choosing investments.

Jack Uldrich creates an interesting and very well researched guide for those attracted to clean technology; both the beginner investor wanting to make
environmentally aware investments and experienced investors looking for information on wind, solar, biofuels and other clean tech will benefit from this book. I would recommend for those people interested in environmental investing in specific technologies like biofuels (chapter 4), solar investing (chapter 5) or wind investing (chapter 6) read that chapter first. Then proceed to chapter
7, Alternative Energies, where Green Investing covers geothermal, fuel cell, wave and clean coal investment opportunities.

In my opinion chapter 8 on energy conservation shows the most promise for short term investing, in regards to clean technologies, and make the purchase
price of the book a great investment - well worth the purchase price.

To go on the author, Jack Uldrich, does a great job of presenting facts and research on the green tech companies and to his credit he keeps the passion (hype) out of the presentation. Having read several of his books, and heard him speak on a few occasions, if you want passion on future technology you
can't go wrong with one of his other books, in fact you must read: "Jump the Curve" (2008) and "The Next Big Thing is Really Small" (2003).

Trump provided one amazing book (The Art of the Deal) and since then has given us one dreadful ego stoking book after another. Think Like a Billionaire provides Trump's thoughts on topics such as:

- How to Rent an Apartment
- How to Read a Classified Ad
- How to Landscape
- How to Pinch Pennies
- How to Balance Work and Romance
- The best Shirts and Antiques
- How to Be Married (ironic chapter of the decade)

If this is the variety of information you are seeking from the mind of Donald Trump then I suppose you will find some value. Otherwise, this book reads like random notes on cocktail napkins that someone found on Trump's desk.

If your looking for a book about a guy that's full of himself, this is it. If your looking for a book about finance, real estate and making money, this isn't it! Plus, he adds a section about The Apprentice at the end, it really didn't help me out one bit. I was really disappointed in this book, wasn't at all what I thought it would be.

Complete waste of time and money. I wish I'd never bought it, save yourself the mistake.

This is one book I could not put down once I started reading it. With Mr. Trump's decades of experience and knowledge gained throughout today's aggressive world of business, his distinguishing insights are compacted into this brief and tiny work, projecting both his shrewd business smarts along with a non-negotiable 'mental toughness' that every successful business person should be learning from... and who better to be learning from than from 'the Donald.' I recommend this book to anyone who's interested in developing a deeper level of entrepreneurial insight within the world of business and real estate, as well as the financial IQ of, well, ... a billionaire. The diamonds are buried throughout this book, and must be sought after with one's trusty ... yellow highlighter. A must read for anyone who's set on becoming a more perceptive business investor / real estate professional / aspiring entrepreneur.

Think like a billionaire. Not that hard to do when you are one. More difficult for the average reader I guess. But hey, aim your arrow at the moon and you'll hit the mountain. I'll settle for a million or ten.

Most of the reader reviews find this book a one-star crap thing. I strongly disagree, because you should know by know The Donald will not take you by the hand and let you make your first million.

You want good advice? Better get his first book "The Art of the Deal" which teaches you some. But thinking like a billionaire is just like writing like a billionaire; he probably had two minutes to dictate per chapter.

Despite all this, it was fun to read. What goes on in a billionaire's life and it just make you dream about being succesful as well, as long if you're not succesful already. Fun to read, crap advise. Four stars.

It is amazing to say this but I feel like I am actually taking another course of study that should be part of my college curriculum. Mr. Maybury's books have allowed me to examine an area of study that I have been intimidated by for years. Economics never held any fasination for me in the past but when I am done with his series of books I may actually look into seeking further education in that subject. His books have given me the confidence to tackle that foe.

One cannot wait to finish whichever book they are currently reading to move on to the next in the series in order to avoid loosing any of the recall from the previous ones. This is book three and I am already eying number 4, "Whatever Happened to Justice," on my bookshelf.

Mr. Maybury has opened up the world of history, economics, money management, political backroom tactics, moral issues and government, bringing them all together in an easily understandable way to help us increase our understanding and improve ourselves.

Great Book.

the money mystery is a quality book made by blue stocking press. this book helps to reveal the hidden indicators affecting youre investments. it also shows you the problems of the financial panic of 1980 and how you can learn from them.

Economics is a young and exact science and this book shows you how to understand it clearly and exactly. As you read through this book several investment tips will be provided for you. such tips as how to make a profit in a period of inflation,recession, deflation and a depression. but one cold hard fact reamains, You must plan ahead and watch for the indicators! the money mystery explains cleary what to look for and how to profit from them. I recommend this book highly :^)

Excellent primer in economics, that is for the layman like myself. In lucid, clear terms, Maybury describes the meanings of the demand for money, velocity and inflation and how it affects us from all over the world.

In this, low velocity exists in the low volume of currency being transferred due to persons holding on to their money, while high velocity exists in higher volumes of money transfer. And while the government inflates the money supply to pay for their expenses, inflation occurs which can lead to the second stage of devalue and inflation and third stage of runaway inflation. And so the government then raises interest rates and stops printing in attempt to slow down the inflation, which usually brings on a recession. It is here where many businesses are adversely affected from expansion from the inflation, only to be severely affected during the recession.

In this, Maybury brings out the history lesson from the French, prior the revolution, from over inflating the money supply and the subsequent results of runaway inflation; the end result was a new government with a dictator, Napoleon. And the history of President Carter's freeze on Iranian assets in response to the hostages held for the U.S. protection of the overthrown Shah. And so such a freeze caused panic in the other Arab countries, who could not liquidate their assets so quickly as they were bound in real estate and other non-liquid holdings. And then Carter's embargo on Russia from her invasion in Afghanistan also created a panic in the economy, the dollar way down, gold way up. Lessons to learn.

Helpful advise is given on how to invest - short term, on what to watch for, the curve in interest. A great theory is given on what has been happening over the recent years. The ideas are that the U.S. has been issuing bonds with greater interest which people buy and subsequently hold on to. This way the government can print to their hearts desire and not increase the velocity and inflation and the deficit can go up to unlimited degrees. But this however will bottom out one day when people become aware. And when that does, look out, there will be runaway third stage inflation - a disaster. So there are things to do and watch for and Maybury is truly beneficial and helpful, significant advice, knowledge and insight to be more alert in what to watch for.

What also is highly recommended are Maybury's other books in economics, "What ever Happened to Penny Candy?" and "The Clipper Ship Strategy."

Money and finance is something many people don't know a lot about but are afraid to ask questions about. They often don't want to appear as though they are not financially savvy or on top of their money situation. Braun Mincher has provided us with a "manual" on money and finance. Any type of question you might have, you can look it up in this handy desk guide on finance. This book is a must have for every business and home out there.
Questions such as how credit cards really make money, information on selling your house, social security, business loans, being a landlord, lease terms, 401K's, car buying and financing, mortgages, bankruptcy, payday loans, insurance, investing and so much more. If you have a question about finance, credit, running your business or any aspect of your personal money management, this is the book for you.

As an educator and parent, Braun hits the nail on the head! This comprehensive resource is the missing link between our education system today and real-world experience. "The Secrets of Money" should be required reading in every HS and college in America! Braun - I applaud you!

Why aren't we taught this info in school? I wish I had read this book before finishing high school. I am a college grad and consider myself fairly "financially literate," but I have learned a great deal of VERY useful information from this book. I recommend this for everyone. It is enjoyable to read and contains great tips. Braun Mincher's personal story is an added bonus -- amazing!

People as a whole go through life woefully uneducated about how to manage their money. "The Secrets of Money: A Guide for Everyone on Practical Financial Literacy" seeks to teach readers what they are never taught by their schools or their parents - basic financial literacy. Promoted as a guide that can help anyone manage their money better at any age, "The Secrets of Money: A Guide for Everyone on Practical Financial Literacy" lives up to that promise and more, filled with over four hundred pages of invaluable information. Recommended to almost everyone, but especially so to personal finance community library collections where it is sure to be a popular lend.

After reading The Secrets of Money I firmly believe that every household should have a copy. This is the bible for all financially related topics spoken in laymen terms that everyone will understand.

I thought I was well versed in Financial Literacy and then I began to unearth loads of "gold nuggets" of information that will help me make the best financially related decisions to propel me to success.

Braun Mincher has a wonderful way of explaining everything from leasing or buying a car, all mortgage related items, credit card info and so much more.

I will make sure that all my friends and family get this wonderful book for gifts.

Ferguson writes another of his trademark power histories with a grand narrative and an attempt to scale the mighty themes.

The Cash Nexus, taken from Carlye's quote about money and political power, examines the paradigms of money and warfare in the modern world. He writes interestingly about how many modern financial institutions came about to finance warfare, and how modern insitutions of peacekeeping such as the UN can be woefully inadequate compared with the might and financial clout of sovereign nations (especially the USA).

A raft of statistical data is invoked to back up the claims made. An interesting book for anyone interested in the modern world, and how power structures have come about.

Niall Ferguson is a professor of political and financial history who has written other well-received, albeit controversial, books. My feeling after reading this book was rather mixed.

[..]
This, I think, is where things become more complicated than the book suggests. Did England found the Bank of England and establish the other institutions that allowed the United Kingdom to become the global hegemon in order to become a global hegemon? Or did Parliament and the Bank of England etc. arise to meet other needs, and prove far more useful than originally foreseen? I strongly believe the latter to be true: Britain, as an island nation, had no neighbors, and was an (after 1066) invasion-proof distance from France. These factors almost certainly allowed the United Kingdom to generate a merchant class far more influential than its counterparts on the continent, engage in more maritime trade, and devote less to military spending than did land-locked nations that faced war at any time. In time, this merchant class, and the practice of dividing risks and participating in syndicates to conduct foreign trade almost certainly led to the culture and institutions that led to the Bank of England. Of course, if the Bank of England and the like did not arise as much from conscious policy decisions as from circumstances, it would seem more expedient to focus on the circumstances that led to the BofE and Britain's broad and deep credit markets, rather than on arcane policy decisions.

The rest of the book is an exhaustively documented look at the relationship between the health of various states and various financial indicators, such as debt, the presence of the gold standard, unemployment and the like. Some of the ideas may be provocative to some, but are very well-founded, and well worth reading, others less so. They are, however, not presented in a focused manner, and many of them are more advanced as "working hypotheses" than exhaustively proven. I believe that case studies examining multiple variables would have been more informative than attempts to reduce complex situations to a single variable.

Somewhat jarring is that some of the Ferguson's facts are wrong: in Chapter 12 he suggests that Switzerland succumbed to the Nazi tide, three pages later we learn that the opposite happened. To emphasize the importance of bullion he goes into the details of the movie based on Ian Fleming's "Goldfinger," but gets them wrong: the idea was not to sneak off with Fort Knox's gold - a logistical impossibility - but rather to render it radioactive and hence untradeable. At least one somewhat complicated book that Ferguson endorses is so flawed that its own author has repudiated it; this shouldn't happen in a polemic whose credibility is based on the author's ability to get his facts straight.

To sum up, parts of this book are quite interesting and stimulating, other parts less so. Having read this book, I personally would not choose to read it again.

This book is a fascinating read for everyone who is interested in the application of economic theory to world history. Reviewing and rejecting economic determinist theories like marxism, the political business cycle and imperial overstretch, Ferguson advances his own argument. It is war that brought us modern finance, bureaucracy and democracy. The outcome of war cannot be predicted with accuracy, but the nation that can finance it at least costs has a comparative advantage. Ferguson skillfully applies modern expectations theory to his historical account. He argues that military hegemony can spread good institutions around the globe as happened under British rule. You can disagree with his plea for benevolent imperialism in an age in which nations want to determine their own future. Moreover, it is questionable whether war `pays', since the costs of war exceeded revenues in most cases as Ferguson points out. But, this did not stop nations and groups from waging war.

I originally picked up this book to see how Ferguson's economic views relate to his views of imperialism (Colossus, and Empire). What I discovered was little different than I expected; that the burden of warfare and imperialism on national treasuries in Europe actually HELPED to develop today's financial systems. This financial system (i.e. the bond market) gave these powers, such as Britain, the ability to extend their power, resulting in world supremacy. In putting forth this theory, he seems to overlook, or at least withhold, alternative ways that the financial sector developed.

With viewpoints and summaries aside, the book was a laborious read. It does, of course, cater to the reader interested in economics, but it is hardly a popular read that the average layperson would want to pick up. Yet while his economic theories - and history - are masked in complicated research and developed theories, the suggested agenda is less objective: it sends the message that overstretch is a myth, that warfare is not totally negative, and that world supremacy depends on a flexible financial apparatus. These implications, certainly, are open to debate, and as the opener to this angle of the debate, it is valuable.

Niall Ferguson has written an excellent book from a generally objective point of view full of intriguing arguments backed up by extensive statistical analysis. The part that seems to have received the most attention is his discussion of great power "overstretch" and it is the part that also caught my attention especially since I read it with the benefit of hindsight.

He wrote this book in the year 2000, just before 9/11 and the invasion of Iraq. In the last chapter of his book he argues that great powers do not fail because they are overstretched but rather because they are overly reluctant to wield their enormous power.

He says that "there is no economic argument against" a policy to establish democratic institutions where they are lacking even if "by military force" since it would not be "prohibitively costly." In particular, he mentions the desirablity to violently overthrow Saddam Hussein using the war against Germany and Japan and our subsequent successful imposition of democratic institutions on these two countries as examples in support of his thesis.

His final sentence is this: "Perhaps that is the greatest disappointment facing the world in the twenty-first century: that the leaders of the one state with the economic resouces to make the world a better place lack the guts to do it." Meaning the use of military intervention where needed.

Judging from what happened after Ferguson's book was published, someone in the future Bush administration must have read it.

When we invaded Iraq, we showed the world that we have the guts but the results have been morally and economically dismal. The invasion has certainly been and continues to be very costly and we seem to be in cul-de-sac from which there is no good way out. And Iraq is not the world. It was just one country among many in dire need of radical transformation.

One point Ferguson seems to have missed is that all countries are not like Germany and Japan.

Are our problems in Iraq because the idea of an invasion was good but the execution was incompetent; or was it a bad idea to begin with; or is it actually going well? Is this feeling of "overstretch" just an illusion?

I, for one, would certainly like to hear what the author has to say now that six years have passed.