Here are 24 books that The Reckoning fans have personally recommended if you like
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I advise private and public sector clients on the unlocking of value from public assets.
After a few years in investment banking in Asia and Europe, I was asked to lead the comprehensive restructuring of Sweden’s USD70bn national portfolio of commercial assets—the first attempt by a European government to systematically address the ownership and management of government enterprises and real estate. This experience has allowed me to work in over thirty countries and serve as a Non-Executive Director. Ultimately sharing the collective experience in two books written together with Stefan Fölster—The Public Wealth of Nations—which was awarded The Economist and Financial Time’s best book of the year, as well as The Public Wealth of Cities.
Would you rather that your local football team or even the national team was selected through family ties or political connections? How did meritocracy—the idea that people should be advanced according to their talents rather than their birth—become the world's ruling ideology? Why is meritocracy now under attack from both right and left? Adrian Wooldridge shows what transformative effects it has had everywhere it has been adopted, especially once women were brought into the meritocratic system. He also shows how meritocracy has now become corrupted and argues that the recent stalling of social mobility is the result of the failure to complete the meritocratic revolution. Rather than abandoning meritocracy, he says, we should call for its renewal.
'This unique and fascinating history explains why the blame now being piled upon meritocracy for many social ills is misplaced-and that assigning responsibilities to the people best able to discharge them really is better than the time-honoured customs of corruption, patronage, nepotism and hereditary castes. Wooldridge upends many common assumptions and provides an indispensable back story to this fraught and pressing issue.' Steven Pinker
'The Aristocracy of Talent provides an important and needed corrective to contemporary critiques of meritocracy. It puts meritocracy in an illuminating historical and cross-cultural perspective that shows how crucial the…
As Nobel prize-winning economist Robert Lucas put it, "Once you start thinking about economic growth, it's hard to think about anything else." That's why I am eager to share the best books on economic development with you! I am a Senior Economist at the World Bank, the world's premier development institution. Over the years, I have developed a deep interest in what makes countries prosper, have published extensively on the topic in academic journals, and earned a PhD in Economics along the way. As a development practitioner, I have been supporting sustainable growth across the globe, with working experience in the Caribbean, Africa, and the Pacific.
Stefan Dercon argues that the answer lies not in specific policies but rather in a key ‘development bargain,’ whereby a country’s leaders shift from protecting their own interests to gambling on a growth-based future. Despite its imperfections, China is among the most striking recent success stories, along with Indonesia and Ethiopia.
This book is about these choices, in contrast to countries stuck in a bad equilibrium. I loved the global experience Dercon drew on, ranging from Ebola in Sierra Leone, scandals in Malawi, beer factories in the Congo, mobile phone licenses in Mozambique, and humanitarian aid in Sudan.
In the last thirty years, the developing world has undergone tremendous changes. Overall, poverty has fallen, people live longer and healthier lives, and economies have been transformed. And yet many countries have simply missed the boat. Why have some countries prospered, while others have failed? Stefan Dercon argues that the answer lies not in a specific set of policies, but rather in a key 'development bargain', whereby a country's elites shift from protecting their own positions to gambling on a growth-based future. Despite the imperfections of such bargains, China is among the most striking recent success stories, along with Indonesia…
I advise private and public sector clients on the unlocking of value from public assets.
After a few years in investment banking in Asia and Europe, I was asked to lead the comprehensive restructuring of Sweden’s USD70bn national portfolio of commercial assets—the first attempt by a European government to systematically address the ownership and management of government enterprises and real estate. This experience has allowed me to work in over thirty countries and serve as a Non-Executive Director. Ultimately sharing the collective experience in two books written together with Stefan Fölster—The Public Wealth of Nations—which was awarded The Economist and Financial Time’s best book of the year, as well as The Public Wealth of Cities.
A thousand years ago, a traveller to Baghdad, Constantinople, or China would find vast and flourishing cities of broad streets, spacious gardens, and sophisticated urban amenities; meanwhile, Paris, Rome, and London were cramped and unhygienic collections of villages. Europe was then a backwater. How, then, did it rise to world pre-eminence over the next several centuries? Having experienced China and its epic growth since being in Student in Shanghai in the early 1980s and then later as a banker, it seems there could be something to learn from history. Daly avoids the twin dangers of Eurocentrism and anti-Westernism, strongly emphasizing the contributions of other cultures of the world, as well as the vibrant and internal competition among cities and nations of Europe.
One thousand years ago, a traveler to Baghdad or the Chinese capital Kaifeng would have discovered a vast and flourishing city of broad streets, spacious gardens, and sophisticated urban amenities; meanwhile, Paris, Rome, and London were cramped and unhygienic collections of villages, and Europe was a backwater. How, then, did it rise to world preeminence over the next several centuries? This is the central historical conundrum of modern times.
How Europe Made the Modern World draws upon the latest scholarship dealing with the various aspects of the West's divergence, including geography, demography, technology, culture, institutions, science and economics. It avoids…
As Nobel prize-winning economist Robert Lucas put it, "Once you start thinking about economic growth, it's hard to think about anything else." That's why I am eager to share the best books on economic development with you! I am a Senior Economist at the World Bank, the world's premier development institution. Over the years, I have developed a deep interest in what makes countries prosper, have published extensively on the topic in academic journals, and earned a PhD in Economics along the way. As a development practitioner, I have been supporting sustainable growth across the globe, with working experience in the Caribbean, Africa, and the Pacific.
After the fall of the Berlin Wall and the collapse of the Soviet Union, the 1990s saw the model of democratic capitalism prevail. Thirty years later, democracy is being questioned, and capitalism has been threatened by growing inequality.
Martin Wolf’s book provides a deep study of the underlying causes of this worrying development, something I very much appreciate. For all its flaws, Wolf argues that democratic capitalism remains the most promising economic model to provide individual freedom and shared prosperity, but it will require a revisiting of the concept of citizenship to foster a shared belief in the common good.
From the chief economics commentator of the Financial Times, a magnificent reckoning with how and why the marriage between democracy and capitalism is coming undone, and what can be done to reverse this terrifying dynamic
Martin Wolf has long been one of the wisest voices on global economic issues. He has rarely been called an optimist, yet he has never been as worried as he is today. Liberal democracy is in recession, and authoritarianism is on the rise. The ties that ought to bind open markets to free and fair elections are threatened, even in democracy’s heartlands, the United States…
Entrepreneurs have a tough lot in life. We dream of creating value for others, yet we are often cursed to pay a huge price in our own lives.
My experience as an entrepreneur is no different – I struggled through three mediocre business startups, learning a little bit more with each one. Along the way, I have put my lessons learned into writing: textbooks, how-to guides and even cover stories for Entrepreneur magazine.
Combining my own experience and the best advice from other entrepreneurs, I have systematically improved my current company… and have finally broken free of the curse! Now I love to share my experience with other business owners like you!
Simple Numbers (the first version) was a long slog through complicated accounting theory. But Greg Crabtree’s Simple Numbers 2.0 is the opposite. It’s a short book about a single way to transform your business using simple financial metrics.
My business is professional services-based. We’re accountants, basically—so selling hourly work is the heart of my business model. For years I pulled my hair out trying to find the right KPI (key performance indicator) or metric to help me manage the business, set prices, negotiate compensation, and more.
I don’t struggle anymore. Crabtree’s Simple Numbers 2.0 showed me how to measure our efficiency, effectiveness, and growth trajectory in a single, easy-to-calculate metric. It has totally changed the way I look at my own financial results. And it applies to all businesses, not just professional service companies.
If you worry about product pricing or team performance, you’ve got to learn about the magic…
Take your business to the next level by identifying the opportunities in your Simple Numbers.
Looking for an investment opportunity with the capacity for long term high yields? Put your business to work for you!
Greg Crabtree demystifies common accounting and reveals the growth potential going unnoticed in your balance sheets. Learn how to make decisions based on data you already have to guide your business to be its best, most profitable self.
Building on the principles of his first book, Greg shows you how to dive deep into your data and locate the numbers you need to identify hidden…
I’ve been fascinated by information technology since I was a child–whether in the form of books, libraries, computers, or cell phones! Living through a massive expansion in the volume of data, I believe it is essential to study the long history of information to make sense of our current data-driven times–which is why I became a historian of data, which I teach and write about full time. Here are some of the most informative and insightful books that have helped me make sense of our issues, ranging from information overload and artificial intelligence to privacy and data justice.
How and why do states keep secrets? Soll provides powerful and, at times, surprising answers to this question by turning to the absolutist governments of early modern Europe, and specifically the administrator Jean-Baptiste Colbert.
As the key minister of state under King Louis XIV, Colbert built a powerful system of information collection and control that, in many ways, anticipated the modern national security state. If you want to make sense of government collection of data and state secrecy today, Soll’s book is a must-read.
Jean-Baptiste Colbert saw governance of the state not as the inherent ability of the king, but as a form of mechanical mastery of subjects such as medieval legal history, physics, navigation, and the price lists of nails, sails, and gunpowder. In The Information Master, Jacob Soll shows how the legacy of Colbert's encyclopedic tradition lies at the very center of the rise of the modern state.
This innovative book argues that Colbert's practice of collecting knowledge originated in Renaissance Italy, where merchants recognized the power to be gained from merging scholarship and trade. By connecting historical literatures-archives, libraries, merchant techniques,…
We first met about 10 years ago at Sheffield Hallam University, bonding as work colleagues over a love of enabling students to understand wealth management and finance in a way that we hoped they would find interesting and accessible. The books we chose mix our love of storytelling and making finance accessible by using real-world experiences. They do this in a unique way, challenging the reader to think about their understanding and perspective, something we try to do every day. It has been lovely to reread these books before writing the reviews, reminding us of what makes us tick. We hope they help you to find your tick too.
This compendium of authors writing around their specific expertise is a compelling read. However, I chose it specifically for one chapter, the chapter on "Communication Apprehension and Accounting Education."
Two of the authors of this chapter were my professors when I was at university and their novel approach to education and assessment, which was years before its time, laid the foundations for skills and behaviors I have used in both my commercial and academic life. Increasingly I see students and professionals who are not as successful in their career due to a lack of communication skills.
For me, this book provides a practical and thought-provoking approach for those looking to understand a fundamental component of the financial world in the 21st century.
One of the prime purposes of accounting is to communicate and yet, to date, this fundamental aspect of the discipline has received relatively little attention. The Routledge Companion to Accounting Communication represents the first collection of contributions to focus on the power of communication in accounting.
The chapters have a shared aim of addressing the misconception that accounting is a purely technical, number-based discipline by highlighting the use of narrative, visual and technological methods to communicate accounting information. The contents comprise a mixture of reflective overview, stinging critique, technological exposition, clinical analysis and practical advice on topical areas of interest…
As an economics student I was told that corporate merger would typically enhance financial performance, because of scale economies, market power or the acquirer’s superior management. As an auditor of recently acquired firms I found disorganization, demoralised staff, and weak profits. As a researcher I found that most mergers had failed to boost profitability, a finding that was mostly replicated by researchers over the subsequent 40 years. In the meantime, helped by my co-author, one of my aims has been to provide an explanation of this evidence, recounted in ‘my book.’ I’m an academic ‘lifer’ at Cambridge University – latterly Professor of Financial Accounting and Acting Dean of Cambridge’s Judge Business School.
This brings together 9 specialists in accounting, economics, or statistics – from academe or practice – to tackle questions such as: does accounting manipulation affect the terms on which acquirers buy targets; are the post-merger accounts projected by bidders to be trusted; did the way targets were incorporated in the combine’s accounts affect share price?
It’s not a relaxing read – some heavy statistical work and disturbing conclusions: clever accountants have often been able to hoodwink investors before, during and after M&A transactions.
Spending on M&A has, in aggregate, grown so fast that it has even overtaken capital expenditure on increasing and maintaining physical assets. Yet McKinsey, the leading management consultancy, reports that "Anyone who has researched merger success rates knows that roughly 70% fail". The idea that businesses might be using huge and increasing sums of shareholders' money for an activity that more often than not leads to failure calls into question the information on which M&A decisions are based.
This book presents statistical studies, case material, and standard-setters' opinions on company accounting before, during, and after M&A. It documents the manipulation…
As an economics student I was told that corporate merger would typically enhance financial performance, because of scale economies, market power or the acquirer’s superior management. As an auditor of recently acquired firms I found disorganization, demoralised staff, and weak profits. As a researcher I found that most mergers had failed to boost profitability, a finding that was mostly replicated by researchers over the subsequent 40 years. In the meantime, helped by my co-author, one of my aims has been to provide an explanation of this evidence, recounted in ‘my book.’ I’m an academic ‘lifer’ at Cambridge University – latterly Professor of Financial Accounting and Acting Dean of Cambridge’s Judge Business School.
These three authors were brought in in 1990 to lead accounting standard-setting in the UK.
At the time, company accounts – especially those of merging companies - were a ‘laughing stock’, with profits often wildly overstated and debt materially understated. Against the expectation of many, they managed to outlaw companies’ preferred (profit-enhancing) accounting for M&A – ‘a triumph of diplomacy as well as intellectual ingenuity’ in the words of the Financial Times. The US and international standard-setters have since come close to adopting the same solution – but in the end have never quite dared.
The book combines rigorous discussion of technical accounting with light and lively discussion of the challenges and fights in which they engaged.
In the late 1980s, financial accounting in Britain was in disarray. 'Creative' accounting was rife. The authority of the industry's standard-setters had been drastically compromised when their rules for inflation accounting were first ignored by many firms and then abandoned. There were calls for government to replace the accountants' self-regulation with a tough regulatory regime close to the American model. Also, rapid change in the financial industry was generating complex new financial schemes for which existing accounting standards were inadequate. This book tells the story of the next decade: the problems the standard-setters faced, both technical and political, the resistance…
As a corporate lawyer, I saw first-hand that corporations lack a comprehensive social and environmental conscience. I had begun to experiment with articles and bylaws when I met one of the founders of B-Lab, the creator of the B-Corp and architect behind the benefit corporation, in 2008. I have been working to upgrade the operating principles of the economy ever since. I was the co-chair of the legal working group for California’s benefit corporation legislation and my former law firm was one of the first law firms to become a B Corp. I’m highly motivated to leave a habitable planet to our children and grandchildren.
I was skeptical that a book about accounting could be entertaining.
Jane Gleason-White not only brings the history of double book entry accounting alive but also tells the story of how accountants are quietly leading the transformation to a sustainable economy. This transformation demands that we upgrade traditional accounting that only accounts for financial and industrial capital to account for benefits and detriments to the natural world and society.
To support a sustainable economy, accounting systems must include four additional categories of capital: intellectual, human, social, and relationship. A sustainable economy not only requires new economic principles and new corporate forms, but new accounting systems that account for all six capitals.
This is the story of a twenty-first-century revolution being led by the most unlikely of rebels: accountants. Only the second revolution in accounting since double-entry bookkeeping began, it is of seismic proportions, driven by the 2008 financial crash and our ongoing environmental crisis. The changes it will wreak are profound and far-reaching and not only will transform the way the world does business but also will alter the nature of capitalism.
While the wealth of nations and corporations has been vital to the global economy, increasingly the world is coming to realize that such endless growth is limited by the…
