Book: When Genius Failed: The Rise and Fall of Long-Term Capital Management


The quick rise and fall of an enormous hedge fund, staffed by smart guys and Nobel economists. It had to be rescued to prevent a possible global financial meltdown and its fall demonstrated the fallacy of the Efficient Markets Hypothesis. And it all turned out to be just a sampler of what was to come in 2008. Hooray!

Book: The Globalization Paradox: Democracy and the Future of the World Economy


Rodrik presents economic globalization as a trilemma: amongst democracy, high-levels of globalization, and nation states, you can pick any two. And since we’re unlikely to see the end of the last, and we don’t want to give up the first, globalization in its more extreme forms will have to go.