Friday, October 24, 2008

Saipan and everywhere: Four essential books

For those hardy captains of industry who read the Saipan Tribune, and who are contemplating the economic situation, here are four books I highly recommend and summarize in today's column:
1. Capitalism, Socialism and Democracy, by Joseph A. Schumpeter.
2. The Road to Serfdom, by F.A. Hayek.
3. Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets, by Nassim Nicholas Taleb.
4. The True Believer: Thoughts on the Nature of Mass Movements, by Eric Hoffer.