Finance keeps the wheels of the economy turning, but it gets a bad rap in the popular imagination. The 2008 crisis magnified that perception, when it emerged that Wall Street professionals were taking on excessive risk to enrich themselves without regard to the societal consequences.
But professor Mihir A. Desai’s nuanced perspective of the field’s socially useful functions makes it clear that finance is a double-edge sword. In this sweeping, thought-provoking look at money and human endeavor, he illustrates the concepts of finance and applies them to everyday situations, drawing on literary and historical examples as well as his own experiences. Though some of the parallels that Desai draws between finance and life may seem a bit labored, you will find yourself nodding in agreement with most of his perceptive observations. He invites readers to open their minds and draw new insights from “the wisdom of finance.” He explains how people can use financial tenets to improve their lives, and he illuminates the field overall, making this a worthwhile addition to your library for understanding economics in personal terms and in its broader context.
About the Author
Mihir A. Desai is a political economist and professor at Harvard Business School and Harvard Law School.