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The Wisdom of Finance
Book

The Wisdom of Finance

Discovering Humanity in the World of Risk and Return

Mihir Desai
Houghton Mifflin Harcourt, 2017

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Editorial Rating

9

Qualities

  • Applicable
  • Eye Opening
  • Engaging

Recommendation

Finance keeps the wheels of the economy turning, but it gets a bad rap in the popular imagination. The 2008 crisis only magnified that perception. But finance is a double-edged sword in professor Mihir A. Desai’s nuanced perspective of the field’s socially useful functions. He illustrates the concepts of finance and applies them to everyday situations, drawing on literary and historical examples as well as his own experiences, to show how people can use financial tenets to improve their lives. In this sweeping and thought-provoking look at money and human endeavor, he invites readers to open their minds and draw new insights from “the wisdom of finance.”

Take-Aways

  • Finance is rooted in human nature, and it facilitates life for people in all segments of society.
  • Modern finance has its origins in the development of the mathematics of insurance.
  • Option strategies can enhance everyday living and financial investments.

About the Author

Mihir A. Desai is a political economist and professor at Harvard Business School and Harvard Law School.

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