December

The Edge’s Top Business Books 2009

The Myth of the Rational Market

Chronicling the rise and fall of the efficient market theory and the century-long making of the modern financial industry, Justin Fox’s The Myth of the Rational Market is as much an intellectual whodunit as a cultural history of the perils and possibilities of risk. The book brings to life the people and ideas that forged modern finance and investing, from the formative days of Wall Street through the Great Depression and into the financial calamity of today. It’s a tale that features professors who made and lost fortunes, battled fiercely over ideas, beat the house in blackjack, wrote bestselling books, and played major roles on the world stage. It’s also a tale of Wall Street’s evolution, the power of the market to generate wealth and wreak havoc, and free market capitalism’s war with itself.

Fool’s Gold

From award-winning Financial Times journalist Gillian Tett, who enraged Wall Street leaders with her newsbreaking warnings of a crisis more than a year ahead of the curve, Fool’s Gold tells the astonishing unknown story at the heart of the 2008 meltdown. Drawing on exclusive access to J.P. Morgan CEO Jamie Dimon and a tightly bonded team of bankers known on Wall Street as the “Morgan Mafia,” as well as in-depth interviews with dozens of other key players, including Treasury Secretary Timothy Geithner, Tett brings to life in gripping detail how the Morgan team’s bold ideas for a whole new kind of financial alchemy helped to ignite a revolution in banking, and how that revolution escalated wildly out of control.

In Fed We Trust

“Whatever it takes” That was Federal Reserve Chairman Ben Bernanke’s vow as the worst financial panic in more than fifty years gripped the world and he struggled to avoid the once unthinkable: a repeat of the Great Depression. Brilliant but temperamentally cautious, Bernanke researched and wrote about the causes of the Depression during his career as an academic. Then when thrust into a role as one of the most important people in the world, he was compelled to boldness by circumstances he never anticipated.

Trust Agents

In Trust Agents, two social media veterans show you how to tap into the power of social networks to build your brand’s influence, reputation, and, of course, profits. Today’s online influencers are web natives who trade in trust, reputation, and relationships, using social media to accrue the influence that builds up or brings down businesses online. The book shows how people use online social tools to build networks of influence and how you can use those networks to positively impact your business. Because trust is key to building online reputations,, those who traffic in it are “trust agents,” the key people your business needs on its side.

Animal Spirits

The global financial crisis has made it painfully clear that powerful psychological forces are imperiling the wealth of nations today. From blind faith in ever-rising housing prices to plummeting confidence in capital markets, “animal spirits” are driving financial events worldwide. In this book, acclaimed economists George Akerlof and Robert Shiller challenge the economic wisdom that got us into this mess, and put forward a bold new vision that will transform economics and restore prosperity.

SuperCorp

Based on an extraordinary three-year investigation, interviewing more than 350 key people at major companies around the world, Rosabeth Moss Kanter provides encouraging and astounding evidence that this assumption is completely outdated. The businesses that are agile, keeping ahead of the curve in terms of market changes and customer needs, are the businesses that are also progressive, socially responsible human communities.

Ignore Everybody

When Hugh MacLeod was a struggling young copywriter, living in a YMCA, he started to doodle on the backs of business cards while sitting at a bar. Those cartoons eventually led to a popular blog – gapingvoid.com – and a reputation for pithy insight and humor, in both words and pictures.

MacLeod has opinions on everything from marketing to the meaning of life, but one of his main subjects is creativity. How do new ideas emerge in a cynical, risk-averse world? Where does inspiration come from? What does it take to make a living as a creative person?