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Showing posts with label Book Review. Show all posts
Showing posts with label Book Review. Show all posts

14 September 2008

More Sex is Safer Sex

Read a book by Steven Landsburg called More Sex is Safer Sex, and Other Surprises. It was a really refreshing take on application of economics into everyday life, situations and problems and how having more sex can prevent the spread of AIDS.


The main story which Landsburg wrote was:

Imagine a country where almost all women are monogamous, while all men demand two female partners per year. Under those circumstances, a few prostitutes end up servicing all the men. Before long, the prostitutes are infected; they pass the disease on to the men; the men bring it home to their monogamous wives. But if each of those monogamous wives were willing to take on one extramarital partner, the market for prostitution would die out, and the virus, unable to spread fast enough to maintain itself, might well die out along with it.


More interestingly, as I was surfing around for more information about the book, I found a post by Alex Tabarrok on June 19, 2008 regarding another book which validate's Landsburg's theory:

In The Wisdom of Whores (see also my earlier post) Elizabeth Pisani says that such a country exists, it's Thailand, and the results of more sex were safer sex - exactly as Landsburg argued. Here's Pisani's story:

Thailand used to fit the the classic 'virtuous girls, philandering boys' model. At the start of the 1990s, 57 percent of twenty-one-year-old men in Northern Thailand trooped off to the brothel to do their philandering. More than half the sex workers who soaked up their excess energy were HIV-infected....

Then...the Thai economy boomed. Girls were getting better educations than ever before...Educated girls were waiting longer before getting married, but not before having sex. By the end of the 1990s, 45 percent of girls aged 15-21 in northern Thailand admitted to having sex with boyfriends before marriage, compared to less than a tenth of that in a nationwide survey in 1993.

...So at the end of the decade, we have a lot more premarital sex and not all that much condom use with girlfriends. But now that these young, cash-strapped guys can have sex without paying, they've stopped handing over cash for sex. By the end of the 1990s, only 7 percent of young men were paying for sex, and HIV prevalence in sex workers had come down too.

....In short, more women having premarital sex equals less HIV.

Pisani cites neither Landsburg nor Kremer so I believe her account is independent. Note that Pisani also credits Thailand's successful condom program.

Hence more sex is safer sex! Really quite the interesting read, even for non economically inclined people as it is written in a easy to understand way and the issues discussed are easy to relate to, from sex to pollution and clearing up fallen leaves on your porch.


Besides wanting to share an interesting book in this post, I would also like to share a method to be more financially efficient.


I read the book at the bookstore....

The WHOLE book.

Free(to me).


So in a world where knowledge is power, I gained some knowledge for which I did not have to pay for in money.

But is it really free?


Next up!

I will dissect the costs involved in spending an afternoon at the bookstore readings books!

Stay tuned!

Read more ...

03 September 2008

Fooled by Randomness

Honestly, the title did not appeal to me all that much at a glance. However, what caught my eye was the comment at the corner of the book cover that whispered 'Fortune: Selected as one of the smartest books of all time'. Now if there was any way to prove that I'm smart, it is to read a smart book.

What it is about:
How economists and traders consistently ignore the role of chance and rely on their increasingly unreliable models and charts to 'predict' the market.

Who is it for:
Anyone with a slight interest in the markets should read this! Nassim Nicholas Taleb is very convincing with his arguments though he does come across as quite arrogant at times. He does make occasional references to the role of chance in everyday life but most of it is centered on trading, which is his area of expertise, so I have no qualms with that.

Conclusion:
This book is definitely essential reading, your views on the markets and everything else will be drastically altered. You will find yourself labeling market volatility as 'noise' and be more focused on the things that really matter. Besides, you would definitely want to be seen reading one of the smartest books of all time.

Note: This book was so influential that the author decided to do a chapter by chapter review but at the time of writing, this author cannot find this book anywhere. So much for the smartness proof.

Related Posts:
The Warren Buffett Way
Lessons from Babylon Read more ...

21 May 2008

The Warren Buffett Way

This is not an auto-biography but an in-depth look into how Warren Buffett chose his investments via his methods and philosophy.

What it taught me:
1) Ignore stock market fluctuations;
2) Buy shares as if you were buying businesses;
3) If you are too lazy to do your homework, buy an index fund instead.


Should you read it?:
The analysis of the different companies that Buffett has invested in is pretty detailed and is full of statistics. This is definitely heavy reading and not recommended for those who hate data analysis. Moreover, each investment of Buffett is scrutinized by the author in every chapter and it can get pretty tedious.
You can gain the most out of it if you have some prior knowledge of equities and bonds.
However, you can gain a pretty good understanding of the Buffett way by reading the first 2 chapters (which gives you some background information on the man) and the last 2 chapters (which summarizes the key methods that Buffett employs).
The Afterword is not to be missed as it shows how the Buffett way can be employed in the modern economy.


Favourite Quote:
'All we want is to be in businesses that we understand, run by people whom we like, and priced attractively relative to their future prospects'

Related Posts:
roller coaster
Lessons from Babylon Read more ...

23 April 2008

Lessons from Babylon

I have developed 2 major weaknesses over the course of my life. Bring me to a wine fair and I will walk away with a bottle or two. Slap '20% Off!' stickers onto books and I will be left with a dollar or two.

The book I am reviewing today was one of those books with one of those stickers.

'The Richest Man In Babylon' by George S. Clason is a really old book and some of you probably would have read it before. However, it is one of those rare gems that deserves another read from time to time.

What is it about:
Short stories of Babylonians, each with a financial lesson to learn. The stories are wonderfully narrated and are told from the perspectives of all Babylonians, from slaves to royalties.

Who is it for:
I personally feel that this book is best for those who are in debt. It not only offers a very simple and effective solution(i.e. set aside 20% of your monthly income to settle your debts), the stories have a feel-good effect as well.
Basically this book is good for everyone because we need to be constantly reminded of the simple financial principles that will guide us to financial freedom.

My favorite quote:
Money is plentiful for those who understand the simple laws which govern its acquisition.

Conclusion:
The stories basically convey similar messages repeatedly, however this reinforces the simple principles of wealth management.
If you are clueless about finances, then this is a very good starting point.
For those who are more adept with wealth management, the parables are still good entertainment though you most probably will not learn anything new.

Written in simple language and being barely over a hundred pages long, it won't hurt to give it a look.
You never know what you might get.
Read more ...

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