By Alexander Green
Track into the inside track and you’ll listen tales of struggle, illness, normal mess ups, corruption, violence, poverty, crime, nuclear proliferation, terrorism and political disorder in Washington. Polls convey many think the yank dream is fading, our kids face constrained possibilities, and the rustic is decidedly at the mistaken track. but this dour standpoint – one recycled 24/7 through the nationwide media – is a gross distortion of the area we are living in today.
As nationwide funding professional and bestselling writer Alexander eco-friendly finds during this engrossing and provocative new ebook, the human race hasn't ever had it so good. within the West this present day, we paintings shorter hours, have extra procuring energy, get pleasure from items and prone in nearly unlimited provide, and feature extra relaxation time than ever before. residing criteria are the top they've got ever been. The human existence span has approximately doubled during the last hundred years. Literacy and schooling degrees – even I.Q.’s – are at all-time highs. know-how and medication are revolutionizing our lives. All different types of pollutants – except for greenhouse gases – are in decline. entry to the humanities hasn't ever been greater. Crime is in a long term cycle of decline. And the chance of demise via violence hasn't ever been smaller for many of humanity.
By virtually each degree, our lives at the present time are prosperous past measure. we're all inheritor to an embarrassment of riches. but – thank you largely the drumbeat of damaging media insurance – such a lot people don’t notice it. eco-friendly compares the common citizen to “a lottery winner whose price ticket is misplaced in a few upstairs drawer.”
The results of adopting the cynical yet renowned worldview are many, together with useless pessimism, neglected funding possibilities, and – strangely – even poorer well-being. but An Embarrassment of Riches offers a robust antidote.
Green starts with a powerful survey of the various methods our lives have gotten longer, more straightforward, more secure, more fit and extra prosperous. He then embarks on a wide-ranging exploration of the tips and the numerous women and men – either dwelling and useless – which are nonetheless enriching our lives today.
Among the various matters explored are American exceptionalism, the intense energy of monetary freedom, the lifesaving position of medication and know-how, the life-extending advantages of optimism, the unconventional theology of Thomas Jefferson, the keys to civility and greatness, the knowledge of Confucius and Aristotle, the power of attractiveness to complement our lives, or even one artist’s thought-provoking tackle “how to defeat death.”
In An Embarrassment of Riches, New York Times bestselling writer Alexander eco-friendly deals a holistic method of wealth – and provides a welcome point of view that permits us to dwell fuller, richer lives.
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Extra info for An Embarrassment of Riches: Tapping Into the World's Greatest Legacy of Wealth
The substantial losses by investors in certain types of financially engineered credit instruments, and the incineration of trillions of dollars of value, have resulted in the nationalization of numerous financial firms and global companies plus staggering bailouts by governments around the world. While some instruments are well into their write-down cycle (for example, residential mortgage-backed securities), other instruments are just beginning a likely write-down cycle (for example, commercial mortgage-backed securities and prime residential mortgage-backed securities).
According to the Bank for International Settlements, by March 1995 the notional amount of derivatives outstanding exceeded $40 trillion and translated into over $3 trillion in market exposure. By the mid-1990s, some financial institutions had more off-balance-sheet business than on-balancesheet business. S. bank in 1994, had about $70 billion in total assets and over $1 trillion notional amount in off-balance-sheet items. Less than 20 years earlier, the reverse had existed: Off-balance-sheet businesses were at that time dominated by on-balancesheet businesses for all financial firms.
New York Times, September 16, A1. Australia, Parliament, House of Representatives, Standing Committee on Economics, Finance, and Public Administration. 2000. “Inquiry into the International Financial Market Effects on Government Policy,” March 22. Bank for International Settlements. 2008. ” BIS Papers 39. Barr, Paul G. 1996. ” Pensions & Investments 24:15, 3–5. Beder, Tanya S. 1999. ” Journal of Portfolio Management, 25th Anniversary Special 25:5, 28–34. Beder, Tanya S. ” Financial Analysts Journal 51:5, 12–24.