100 books like Going Infinite

Cialdini is a social psychologist who set out to explore what makes us comply with requests from strangers.

He did this from the inside by taking jobs where he was trained by various organisations to sell their wares. What makes this book so valuable is that Cialdini not only identifies six key methods of persuasion that are routinely deployed but also offers guidance on how to defend yourself against them. This has huge relevance for personal finance.

As banks and other financial institutions increase their fraud detection systems, criminals increasingly see you, the individual, as the weak link they can exploit to defraud you. Cialdini’s book is a great tool to help you detect and rebuff scammers intent on parting you from your money.

US economist Frank Knight is credited with distinguishing uncertainty from risk back in 1921. Yet the two are often conflated.

Kay (an eminent economist) and King (a former Governor of the Bank of England) argue powerfully that the distinction does matter. They range widely across macroeconomics, politics, and consumer choices to show why reducing the future to a set of numbers (probabilities) creates a false – and often disastrous – illusion of power over future outcomes.

They argue that instead we should aim to make decisions that stand a reasonable chance of being robust against unknowable, as well as forecastable, paths that the future might take. That’s very much the ethos of my own books: building in resilience is a key part of successful personal financial planning.

I can’t say this about many books, but this one is life changing. Wonder about money? Where it comes from and why it makes the world go round?

The Creature from Jekyll Island is the landmark book about the Federal Reserve, banking, and finance. Originally published in 1994, this book is still routinely the number 1 best seller on Amazon for Economic Policy. The Creature from Jekyll Island not only opened my eyes to the reality of money in the modern world, it is also a thoroughly entertaining read.

This book helped me understand why advances in artificial intelligence are going to have a big impact on productivity and economic growth. I loved the analogies to old technologies like electrification of factories, and newer examples like how Team New Zealand used simulations to change racing tactics and boat design.

The book has an important, big idea at its heart. That idea is that AI helps organizations make better predications, and those better predictions allow organizations to be fundamentally redesigned to take advantage of this. This is where the AI productivity revolution comes from.

Grisham is one of the greats, and The Firm might just be his best. Money laundering, finance, postal laws, and the quirky world of 1990s Memphis all come to life with this Grisham great.

While more of a legal thriller than a financial one, I found that as far as finance-related fiction goes, it’s tough to beat The Firm. Not only a look inside at off-shore banking and shady deals, Grisham offers here a compelling narrative that excites and captures the reader.

I read this classic, published in 1957 when I was in high school. It was perhaps the first critique of advertising, and I found it fascinating.

Packard identified eight “compelling needs” that advertisers promise products will fulfill. Years later, I recognized how some of these needs were used to sell addictive products.

Although he didn’t address the objectification of women, he opened my eyes to the manipulative power of advertisers and the subconscious meaning of ads.  

Much of personal finance relies on the premise that you will achieve your goals by investing in economic growth.

One narrative says we can play our part in tackling climate change by shifting our investments towards sustainable growth – for example, backing green technologies and carbon capture. However, Latouche questions whether economic growth is compatible at all with living within our planet’s resources.

He argues that we have to detach from the cycle of over-consuming and over-producing that is implicit in targeting economic growth and instead shift to a goal of maximising human wellbeing. His radical alternative is a world where we work less, share more, and respect nature.

It is arguably the only real solution to the climate crisis, but powerful vested interests stand in the way of its adoption.

As a finance guy, I had always heard of the BIS or Bank for International Settlements, but I had no idea what it did, how it worked, or its history.

Adam LeBor expertly explains in the Tower of Basel not only what and who the BIS is, but how they have manipulated and influenced the global economy for generations. Despite the bank's strong connections to the Third Reich during the 1930s, the BIS continues to dominate global finance today as the central bank for central banks.

Every two months, leaders from the most powerful central banks in the world including the Federal Reserve meet in Basil to chart a course for the world economy under a cloak of secrecy. Tower of Basel rips the veil from this clandestine organization and exposes dark forces few are aware of.

Looking for a touch of fiction with your finance: The Millionaires is not only fun, it’s a great look at how easy (and tempting) it can be when working in finance to cross the line and act for personal gain.

As someone who has worked in the finance industry for decades, I’ve become all too accustomed to moving millions, sometimes tens of millions with the touch of a button. What happens when an average guy has that authority? What if that average guy is actually innocent?

Read The Millionaires for an entertaining look at the possibilities.

Well, the author is a friend of mine but it’s also on a topic close to my own academic research interests. So it was kind of compulsory reading for me, but it might be the most enjoyable compulsory reading I’ve ever done.

I thought NFTs were just a gimmick to do with internet pictures. But the authors explain, with great examples, that NFTs are best thought of as a new technology for creating digital assets. And better still, providing the true owner with irrefutable proof of ownership of these digital assets.

What I took away was that NFTs are a new technology for tracking property rights. And since property rights have been fundamental to economic development for millennia, this is a topic one can’t afford not to understand.