[This Week's Books] 'Geumri's Revenge' and 5 More Titles

◆The Counterattack of Interest Rates=Interest rates are the core of the economy. They serve as the benchmark for government policies, and companies plan their businesses based on interest rates. Household consumption, investment, and savings are also influenced by interest rates. The author introduces interest rates as a key factor deeply involved in the cycles of economic booms and recessions and driving the rise and fall of industries. The book explains the impact of interest rates on reality through various examples, emphasizing that simply raising interest rates during booms and lowering them during recessions is insufficient to properly respond to economic fluctuations. Additionally, it analyzes not only U.S. but also China’s monetary policies and examines the policies of East Asian countries. (Written by Edward Chancellor · Wisdom House)

◆Patterns of Money=The founder of the Wall Street investment firm Sheffer Cullen introduces a value investing method that ordinary investors can easily follow. Based on 60 years of investment experience, the method is characterized by understanding the flow of money through data. The author’s value investing approach consists of two main methods. First, the Benjamin Graham analysis method applying principles of price-earnings ratio, price-to-book ratio, and dividend yield. Second, the Paul Miller analysis method, which examines how the cheapest stocks based on price-earnings ratio dramatically outperformed the most expensive stocks and the overall market. The author states that these two methods formed the foundation of Sheffer Cullen and that they currently manage assets worth $20 billion (approximately 27 trillion KRW) using value investing. The author advises, “Preferences for value investing may vary, but data does not lie,” and encourages readers to “read the ‘patterns of money’ through data.” (Written by Jim Cullen · Dongyang Books)

◆The Art of Life-Changing Questions=Perhaps life is a process of resolving conflicts of opinion. In daily life, we face numerous disagreements. We argue with our spouse over whether to have children, dispute with neighbors over noise between floors, and negotiate with companies over salary differences. This book introduces how to solve problems through questioning. The young Dutch philosopher author advises changing the purpose of conversation. Instead of trying to persuade or win over the other person, the goal should be to make the experiences and knowledge of the other person your own through dialogue. Furthermore, listen patiently from the other person’s perspective, but do not fully empathize 100%?instead, ask questions that strike at the core. While it may remind one of empathetic communication or the psychology of persuasion, this approach is different. It introduces a questioning method that maintains tension while achieving desired outcomes. (Written by Elker Vis · Dongyang Books)

◆For a Humane Death=This is the record of a ‘caregiver’ who entered hospice to study ‘bioethics (thanatology).’ After the death of the author’s mother in 2007, they have researched thanatology for over 16 years. The lonely death of the father, who lived 12 years longer than the mother, became an opportunity to study end-of-life life and humane dying in old age. Through the appearance of patients facing death, the book raises discourse on how terminal patients can meet a comfortable and dignified death. The author reveals having completed an ‘advance directive’ refusing life-sustaining treatment and says that meeting a doctor with a warm heart who understands and accepts dignified death is a blessing. The author also emphasizes that the role of the state and local communities is absolutely necessary for people to die in their own homes. (Written by Yu Seong-i · Mentopress)

◆Startup Design Thinking=As anyone can become an entrepreneur and be at the center of innovation, the ability to identify customers’ hidden needs is gaining attention. Prestigious universities such as Stanford University, Harvard University, and MIT, as well as companies like Samsung Electronics and Google, already emphasize ‘design thinking’ to discover and commercialize these needs. The author, an expert in design mindset, studied the mindsets of 50 innovative domestic startup founders such as Kurly, Woowa Brothers, Viva Republica, and Yanolja, and derived and introduced a new entrepreneurial spirit needed in the Fourth Industrial Revolution era. The author revealed the relationship between the new entrepreneurial spirit and design thinking and defined it as the ‘7 Design Minds for Entrepreneurs.’ Through interviews with eight entrepreneurs, the book kindly guides readers on the need for a new entrepreneurial spirit, the necessity of a design mindset, and how to apply design thinking in startup businesses. (Written by Ko Eun-hee · UX Review)

◆The Madness of Crowds=The author of this book is William Bernstein, a legendary Wall Street investment theorist and economic historian. Before entering the investment world, he worked as a neurologist analyzing human psychology. Drawing on this experience, he combines the latest evolutionary psychology and neuroscience theories to gain insight into the nature of human instincts through the dark history of collective madness. From the M?nster massacre by the Anabaptists in the Middle Ages, the rise of the Middle Eastern IS which has been controversial since the 14th century, to the apocalyptic beliefs in today’s polarized America, the author explores the history of religious fanaticism over the past centuries. He also examines the history of financial madness driven by strong desires for wealth, including the South Sea Bubble in the 18th century, the dot-com bubble in the 1990s, the Enron scandal in the 2000s, and the 2008 Lehman Brothers collapse. Through this perilous history of desire and madness, the author poses fundamental questions about human nature: “Are humans truly rational beings?” The book offers an in-depth examination of the causes of material and religious bubbles. (Written by William Bernstein · Forest Books)