Kim Gentes

1177 BC : The Year Civilization Collpsed - Eric Cline

Ancient history has been affecting something of a revival of interest in the last 30 years, not only because of it's rich heritage of story which is often converted to popular media (via Hollywood), but because of the amazing strides and discoveries made in history, archeology, anthropology, and even ancient climates. So much new and clarifying information is coming to light in the technical and scientific communities that there is a need for experts with broad experience to retell the narratives of the ancient civilizations to modern audiences.

Into this space has stepped Eric Cline and his spectacular book, "1177 BC: The Year Civilization Collapsed."  For most of us, we didn't even know there was another "Dark Ages" in history- other than the one we learned about in high school or college that equated the European middle ages a period of intellectual and economic regression caused by the collapse of the Roman Empire. But, in fact, the ancient era called the "Bronze Age" came to a dramatic close in the late 2nd millennium BC, with the sweeping collapse of nearly all prominent civilizations in the ancient world.

It is this ancient, and first, "world wide" collapse of societies that is examined and expounded by Professor Eric H Cline in "1177 BC." What stands out immediately to the reader is the astonishing deluge of interesting history presented in a powerful narrative style. Cline is not just an archaeologist, he is a a genuinely gifted communicator. Thoughtful and witty, he writes as much for the palpable sense of the societies he is studying as he does for the cold hard facts of the major milestones in the narrative. And this makes the book itself a genuine work of art.

But thankfully, we aren't just left with that. Cline backs up his narrative with profound science and a balanced hand both at antiquity and a look to the possibility that future discoveries may turn the narrative a different direction as the history is clarified. Without the pompous self-assuredness that seems to often rest in the tone of modern authors of books on historical topics, Cline avoids condescending to the reader and frankly (but seriously) admits what facts are sure and which are not.  This doesn't weaken his arguments, however, and the entire book becomes much more plausible because of the care and contrition that the author has taken in its presenting.

The topic itself sweeps from ancient Egypt (during the "New Kings" era), to Mesopotamia, to Anatolia and the Hittite empire, to the Cretan (Minoan) and Aegean (Mycenaean) kingdoms and even down through much of the Levant- touching on all the crucial components that came together in the collapse of a truly interconnected world in the Bronze Age. "1177 BC" is as much about economics and politics as it is about war and migrations of mysterious "Sea Peoples". The book unleashes several new concepts about language, texts and lost civilizations. One such civilization, found by archaeology in the last century, is the story of the newly discovered kingdom of Ugarit. That, alone, is a brilliant segment of the book and is a perfect example of what Cline does best- combines his technical eye with a story-teller's prose to paint for us great historical landscapes.

Amazon Link: http://amzn.to/1uiE2tY

Review by Kim Gentes

I've read business books. I've read leadership books. But what I haven't read is a real, honest-to-goodness, practical play-book of how to do small business. Until now. Dave Ramsey's book, EntreLeadership, is just that- a fairly comprehensive and integrated manual for growing small businesses that (whether they know it or not) will need training in leadership development and core business skills.  For those that don't know, Dave Ramsey is a radio show talk personality who largely is known for his on-air advice to callers on the topic of personal finance. Something of a combination of Suzie Orman and Clark Howard, with Christian values contextualizing his perspective, Ramsey is strongly opinionated but has proven to be practical and effective as an advisor on money matters, especially concerning the topic of debt.

Ramsey's advice and radio show have been the centerpiece of a company that also sells products and training services to millions of people looking to manage their finances and pay off their debts. The success of his sales of those goods and services has turned him into the leader of a small but growing and successful enterprise in its own right. The author clearly knows what it takes to actually build a business, and he understands how to effectively dissect and represent good thinking about the strategies that can be transferable to other people. In short, Ramsey is as capable a coach as he is an implementer, and this is a rare trait.

EntreLeadership not only defines the generalities of vision, mission and goals, he gives play-by-play details on very well thought out execution plans for sales, marketing, employee management, financial oversight, leadership and much more.  Actually, I found that Ramsey abbreviates points I've heard in other books, but does so with sharper focus than other business "leaders" who tend to leave their advice open-ended to work with various situations. Dave Ramsey is more "black-and-white" than most. And to be frank, this makes his book worth its weight in gold because he doesn't mince words. He has some opinions about how to get things done - sales for example- and they are about 99% right. I caveat the remaining 1% because he falls trap ever so slightly to one of his own mentioned vices- believing his own press.

I suspect that this comes from Ramsey's unflappable personality, but more than once, the author expounds his success as a validation of his book. For sure, this is essential for any great teacher- do first, then teach to do. Ramsey's success is certainly a proof for his passing on his wisdom. But his salesmanship bleeds through. In the introductory section of the book, Ramsey goes from saying "our tremendous success"1 to declaring "This is the personal play-book of an ultra-successful EntreLeader."2 in just a few sentences. Microsoft, Dell Computer and Chick-Fil-A are examples of "ultra-successful" leaders and companies (all examples that Ramsey acknowledges in his book). But self-identifying Ramsey's company as "ultra-successful" seems comically ill-advised.

However, that minor brush of hype aside, no small business leader should pass by a chance to read this book and put its points into practice. It really is a succinct and arduously well organized course that can do nothing but help anyone trying to "make it big" with their big idea.  Ramsey is a great doer and an even greater instructor. Don't skip over EntreLeadership. You can't afford to. It's that good.

Amazon Book link: http://amzn.to/1cnWXKR

Review by Kim Gentes

1. Ramsey, Dave (2011-09-20). EntreLeadership: 20 Years of Practical Business Wisdom from the Trenches (p. 2). Howard Books. Kindle Edition. 

2. Ibid. Pg. 2

Personal finance books can sometimes sound about as exciting as an economic history textbook. But personal finance has a profound impact on the average person and family. Dave Ramsey is a radio show personality based in Nashville who has become successful as a speaker and author in the area of personal finance.

His first book, Financial Peace, has grown into a seminar, course and nationwide educational phenomenon having literally thousands of centers (mostly churches) that host the personal finance course called "Financial Peace University". The goal, as the title indicates, is to train people to gain peace in the area of finances.

In reading through this book, I started off with a fairly critical perspective. I am not the kind of person who likes listening to radio personalities that publicly berate callers on the topic of their “expertise”. I knew that Ramsey had a public persona of hard-nosed and I feared his book would be pompous and self-aggrandizing. I was wrong. “Financial Peace Revisited” is a pointed book, for sure, but it is tempered with the care of a person who has lived through real life. Some of the book relates Ramsey’s personal story of rags to riches to rags and back again- including growing a successful real estate business that crashed and burned, and his later recovery and learning process out of personal debt into long term financial “peace”. It is from this personal experience that Dave Ramsey tells not only his story, but the touch-stones of common sense that led him away from the common American family cycle of financial mismanagement.

In his book, Ramsey articulates compact truths that he calls “peace puppies” that are the foundational points of his thesis. One can’t say that the points are revelatory- but good advice rarely is. “Financial Peace” expounds the simple and clear truths of personal finance that many know, but few actually live. This is Ramsey’s main contention- we don’t live out the common sense items that would allow our money and careers to work for us. Instead, we allow the borrowing of money (normally to buy unneeded things) become the master and driver of our lives. It is this borrowing cycle that drives American personal finances into common and regular ruin.

Ramsey’s biggest and most salient point in this book is the belief that debt (all debt) is to be avoided and countered. There are plenty of other items, but they all serve to address this primary issue. But the brilliance of Ramsey’s approach is not just the common sense, but the emotional recovery of the debt-laden Americans who work Ramsey’s plan to come to financial peace. The biggest of the “smart moves” that fuel a “can-do” attitude in Ramsey’s followers is his recommendation that they pay the smallest bills first, and as those smaller bills get paid off the amounts used to pay those off get rolled cummulatively into the next largest bill. His “debt snowball” is genius, but almost counter-intuitive.

But it works. By paying off small bills first Ramsey knows that his customers will be feeling the emotional encouragement of seeing bills actually paid off. This heightens their awareness of the positive outcomes of their actions, giving them emotional fuel to continue paying off debt and working their recovery plan. In addition, the monetary power of those small debts being paid off cummulatively gets unleashed on larger and larger bills. Practically and mentally, the momentum is placed in the realm of those who follow his plan. In fact, he challenges people not to try to do too much too fast, for fear that this will only cause them to hit the emotional wall when the recovery from financial distress begins to drag on for many months and years.

There are literally dozens of great points in this book, and few errors. The only complaint I have with this book is its outdated, and somewhat unrealistic “positive” saving scenarios. In the book, Ramsey expounds that compound interest works powerfully against the consumers- and this is right. He says that if we save we can reverse this trend not only by not building up more debt (breaking the cycle of increasing debt) but we can use interest bearing savings options to let the money work for the consumer. But his oft-repeated examples are nowhere close to reality. The books cites, in a few examples, 8-12% return on compounding savings, which isn’t true in any consumer bank in America (and hasn't been in recent modern history). It isn’t true in money market funds and it is barely even true in mutual funds these days. There has never been an era lasting more than a year or two when most consumers could get a reasonable return on savings (especially when compared against inflation) without playing the stock market through mutual funds, but this is not how Ramsey says it. The point is, this detail could easily be updated and adjusted to reality to give the book more credibility- and it would be good if it were. To Ramsey's credit, he does get into details about how to invest later in the book, dealing with various investment vehicles that could give the reader the returns he talks about. Just a bit more differentiation between "savings" and investment I felt were needed for the scenarios presented in the first half of the book to make sense.

Beyond that, the book is very nice to read, quick to understand and support to those who actually want to “do it”!

One very nice feature is the regular end-of-chapter summaries by Sharon Ramsey (Dave’s wife) who takes a spousal perspective on how the main points of each chapter effected her life. This is a very nice contrast to the “go get it” approach of the author and gives the book some balance. Overall, this is a very good book, that contains not only great personal financial advice but seems to have proven itself worthy of the thousands of people who have taken Ramsey’s advice and gotten themselves out of financial struggles.

Amazon Link: http://amzn.to/17G2EiI

Review by Kim Gentes

Have you ever wondered how we got to the point of automaton being a part of every aspect of our interactions with the commercial world? Wonder no longer. In his recent book "Automate This" Christopher Steiner explores the history of selected technology wizards and innovators who developed ways to use hardware and software algorithms to automate and predict human actions. It is in that realm that Steiner explores the massive influx of technology and technical talent into Wall Street and the money machine that drove the innovations of the 80s, 90s and the first decade of the new millennia.

Steiner starts with the iconic story of Thomas Peterffy, whose deterministic style and brilliant mind led him to bring the first streams of technology into the Wall Street world of high finance, commodities, options and stock trading, which eventually led to the consummation of CDOs and other debt instruments that rule the financial world and have contributed to the harried meltdowns we experienced in recent decades. Peterffy's story resurfaces throughout the book as a marker of what algorithms and their creators are all about.

The book revisits the grander history of algorithms from Euclid to Persian mathematician Abu Abdullah Muhammad ibn Musa Al-Khwarizmi to Fibonacci to Newton, Leibniz, Gaus, Pascal, George Boole and others who significantly contributed to the development. The book also spends a chapter exploring automation algorithms in music, from A&R evaluation of songs to writing actual music compositions that match Bach.  One chapter detours on the central value of algorithms being their speed of use in automation, and how Daniel Spivey dug a direct "dark fiber" cable from New York to Chicago to ensure he had the pipeline for the fastest speeds of trading decisions to the needed locations- a business (Spread Networks) which became the main pipeline for trading companies wanting ultimate transaction speed for their automation bots handling trading.

Steiner explores the various algorithmic systems from Big Blue to Watson to baseball stats systems, all of which use highly tuned formulas in computers to determine the best ways of winning at the big money of various gaming scenarios. The book becomes very personal, however, as it discusses physician-assisting algorithms that can already handle making diagnostic recommendations, pharmaceutical decisions and even filling the prescriptions via robots. The other well known application of automation he explores is personality evaluations for everything from dating to NASA crew evaluations. 

But the book actually comes to rest in a surprising position of recommending that big finance was somewhat of a culprit and that the new world of Silicon Valley is the place all the engineering and technical talent should be focused on. He even brings a call to people to focus on more engineering careers and pursuing computer science in college degrees. His premise lands with the ideas that high finance had previous siphoned off all the high quality technical minds to develop transaction splicing algorithms during the 80s-00s, but that now Silicon Valley needs those minds and talent for real development.

The book is well-written and interesting, though seems rather self-serving, since the author is notably one of those crowd who has defected Wall Street for the glamour of Silicon Valley. The history, back story and prospects of algorithmic work is very interesting and very compelling. Steiner leaves out three of the most important examples of algorithmic influence in companies: Microsoft, Google and Amazon. For some reason, the author decides to ignore these icons, even though it would be hard pressed to find (outside of Facebook) larger success stories based on just the kind of development and algorithms he explores in the book.

Overall the book is definitely worthwhile, as it is a short read (just 250 pages) and very well researched. The style is conversational and non-tech people will not have any problem following the dialog here.

Amazon Link: http://amzn.to/18ZFdOM

Review by Kim Gentes

Of the thousands of pages of text among the dozens of now iconic books written on economics, there is no more succinct and penetrating exploration of the ties of economic capitalism with political liberalism than the relatively short work of "The Road To Serfdom" by Friedrich A. von Hayek. Having read several of these voluminous texts myself, I can say unequivocally that "The Road To Serfdom" is the singular text that simultaneously explains the simplicity and benefits of the free market system while profoundly destroying the notion that personal liberty could be found within the socialist economic framework. Hayek, as he admits of himself, is an academic and technical economist who felt compelled to write a defense of the basics of liberalism (in the 19th century classical definition) as the unique and necessary combination of economic freedom and personal liberty only after it was clear that many of his influential political contemporaries in WWII Europe had vastly misunderstood the workings of socialism, and that it's ultimate outcome would always be totalitarianism- either in the form of Communism, as in Russia, or in the form of Fascism, as in Nazi Germany.

In fact, this book outlines the progression of what exactly happened in Germany to produce the society and opportunity for Hitler's regime to become the tyrannical monster of the modern world. Hayek clearly and convincingly explores how the fears of individuals based in economic instability of a free market system can lead people to eventually surrender their individual liberties in hopes of economic and nationalistic security. This surrendering becomes a downward spiral of personal liberties as the willing (at least initially) cost of an ever-expanding socialist economic state. A state in which the individual hopes of security and sustenance become permission for an eventual autocracy that maintains all decisions for all peoples at all times.

The observations of Hayek are not meant merely as a history lesson, but were a clear warning to England and America of the dangers of socialist economic thinking (and socialism in general), because Hayek believed that the rise of socialism in those countries would eventually set the stage for a totalitarian regime to be possible. In fact, Hayek's thesis and warnings are so cutting, and so well defended that he almost single-handedly inspired a renaissance of 20th century liberalism (though it more often went by the label of conservatism by its adherents such as Margaret Thatcher and Ronald Regan).

"The Road To Serfdom" is not just about the political and economic threads that led to Nazi Germany, it is about the true balance of power between personal liberties and state control. If you have never read an economics book in your life, you MUST read this one. It is by far the most powerfully written, yet simply understood, philosophical explanation of liberalism and the free market system- and why the combination of free market economy is the central component to ensure the other freedoms that accompany modern liberty (emancipation, universal suffrage, free speech and more). The ability to make self-determined decisions about work and economic exchange imbues in itself the power to allow both individuals and entities to pursue success. The natural balance of the free market is not only clearly articulated, Hayek contrasts it with the inherent weaknesses of the planned economic socialist state.

This is a political book, but whatever your politics are- you cannot afford to ignore this book. Whatever your political understanding or persuasion, this book is an absolute "must read" text. While books like Mises' "Human Action" and Adam Smith's "Wealth of Nations" provide more technical details and examples on how the free market system works, neither of those books provide so clear and convincing a treatise on the benefits and perpetual health of a economic liberalism, as "The Road to Serfdom".

Once beginning to read this book 4 days ago, I could not put it down. I am now on my third time through and continue to find it as enthralling and engaging each time through. A truly brilliant articulation of economics, freedom, free market, and the dark path of socialism that eventually leads to totalitarianism. If you believe you understand economics and have never read this book, you have missed one of the greatest texts in this field, in history.

Amazon Link: http://amzn.to/XJKd8j

Review by Kim Gentes