The Millionaire Next Door by Thomas J. Stanley and William D. Danko is an analysis of millionaires in America. The study detailed the inner workings of their lives and consumption habits and compared them against other millionaires. The book entails how anyone of almost any income can amass considerable wealth if they spend and save correctly.  The American lie has remained prevalent for centuries: you’re … Continue reading Book Review: The Millionaire Next Door

Good Economics for Hard Times is the second general readership publication of the husband and wife, Nobel-prize winning pair of Duflo and Banerjee. Their first book, Poor Economics, published in 2011 (and already reviewed on Etonomics), catapulted them into global fame and their second instalment continues in the same rigorous, empirical style as the first. They aim to transfer their methods of studying poor countries … Continue reading “Good Economics for Hard Times” by Duflo and Banerjee

Why free-market capitalism doesn’t work, according to Ha-Joon Chang How liberal or restrictive governments should be on economic and trade policy has been debated extensively. Theoretically, free-market ideology most efficiently allocates resources. With an invisible hand guiding the market forces of supply and demand, while also stating that firms ought to have unlimited freedom, they know how to produce goods and services most efficiently, which … Continue reading “23 Things They Don’t Tell You About Capitalism” by Ha-Joon Chang