Soundview Executive Book Summaries

Looking at the NYT Bestsellers List to Gauge the Economy
October 24, 2008, 3:51 PM
Filed under: Financial/Accounting | Tags: , ,

Take a look at the New York Times’ bestsellers list for hardcover business titles published Oct. 3, 2008. Previously I had written about the effect of the current economic crisis on financial books , but I noticed something interesting when I looked at the bestsellers list again recently.


Doing some quick math, I figured that 40 percent of the titles on the NYT list pertain directly to the current economy. Of these six titles, it’s reassuring that five of them aim to give solid financial advice—something that anyone in the U.S. could greatly use. The only one that seems to be more of a look—objective or subjective, depending—at the dire straits of the economy would be Kevin Phillips’ Bad Money: Reckless Finance, Failed Politics, and the Global Crisis of American Capitalism (Viking Adult, April 2008).


As much as consumers don’t want to take a book like this with them to bed, I have a feeling that Phillips’ book might be a real eye opener for some. However, when you’re done reading this book, where does it leave you?


I believe this is where the other books I alluded to before come in. Titles such as The Total Money Makeover, Debt Cures “They” Don’t want You to Know About, The Gone Fishin’ Portfolio, The World is Curved, and When Markets Collide all have a bit more to offer when it comes to practical advice as to how consumers can invest wisely today (especially in the bear market), and how to maneuver through rough financial waters.


I feel that Bad Money has it’s place in educating us about what went south with the economy, but at the same time, it’s good to empower yourself with financial advice that can have a direct impact on your life.


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