The Most Important Lessons in Economics and Finance: A Comprehensive Collection of Time-Tested Principles of Wealth Management

The following is a review from Kirkus Reviews of The Most Important Lessons in Economics and Finance Book by Dr. Anthony M. Criniti IV.xa0 Please feel free to add a review of this book also. "Criniti ( The Necessity of Finance, 2013) interprets the key concepts underlying economic and financial behavior, with an emphasis on personal finance. Criniti makes frequent references to his previous book as he guides the reader through 218 principles of economics and finance that he finds to be both essential and universally applicable. His claim that "around the 1950s it became formally necessary to create finance, the science of managing wealth for an individual, a group, or an organization" may raise the eyebrows of readers familiar with a longer span of history, but it does allow readers to understand what exactly the author means by "finance." Most of the principles identified in the book relate to matters of personal finance--spending, saving, retirement--and business operations. Some of the principles Criniti explores are reasonable if somewhat simplistic guidelines: " Always keeping your promises can help you to keep your good reputation. " and " Only give gifts that you can afford to give. " Others require greater leaps of logic or adherence to a profit-driven worldview: " Economic cycles are naturally required wealth adjustments by economic entities. "; " Some people will do anything to deprive you of your wealth. " Some principles merit two pages of explanation, while others are dispatched in a paragraph or two; the explanations are derived more from the author's understanding of his principles than from empirical evidence or analysis. The principle that " Wealth is attracted to cities ," for instance, is supported by no data, merely the claim that "In general, you will find your greatest opportunities to build wealth in cities versus suburbia or the country." Although the title suggests an introductory economics course, the readers who will find the greatest value here are those in search of a more philosophical companion for their personal finance handbooks. A guide to the fundamental principles of building and maintaining personal wealth, relying more on the author's instinct than on quantitative data." - Kirkus Reviews "Oh, what a wonderful book! The first time I came across the title I quickly thought it was one ofthose books I have read before concerning steps to become rich orwealthy, then regarded it as one of such books as common, withshallow-founded ideas and so forth. But guess what?! "regular text. Dr. Anthony M. Criniti IV. regular text". has thoroughly put thelessons in a plain language, also with well-founded ideas of lessonsthat point to his hands-on experience in finances.This could be a manual for all money matters, I think. From what Ilearnt; if you want to start a business, increase your income, getmonetary support; its all in this book! One of many phrases I pickedfrom the ones he coined himself like, "civilizations that use moneyrequire it for survival," something we could all agree to - that we usemoney in our daily transactions that we can't do away with. Today'sworld, is mostly driven by money not like the old times when people used barter system (exchanging goods for goods). Although, far from towns,few could use barter system, it is on a small scale and or rare. Addingto this is, that all of life's problems can't be cured by money. We use it for what is necessary and convenient and not an answer to all things and matters that concern life. It has never bought life. When a personacquires money and the moment he thinks its enough; that's when theyrealise that more is needed to be earned and the void of lack of lovelingers. It can never be quenched by any amount of money that we couldever have. Money has never bought nor brought solutions to buy a chancefor a man to live ever young and longer on earth. He says that moneywill not buy love and respect, yes, we earn love and respect through alifetime commitment in our various relationships. We can't buy interestas well, it comes naturally and it is given to, by choice. He says, incommerce its a useful tool to get things done. This is not a one-waysolution or fit-one or in other words a personal situation coined-phrase but a general state-of-matters kind of explanation that all peopleface. He also adds on to say that if one had skills to convert theirmoney to larger or smaller units, they could have ample opportunities to create wealth or avoid losing it. I agree, no one wants to think oflosing money neither knowingly nor unconsciously. For an individual tocreate something meaningful and valuable, there must be wisdom.Something the author explains plainly. From a great thought, again, tosay that we don't need to become academically intelligent to becomewealthy to a great lesson to me and for me. In a simple way, he explains the some-what difficulty matters of interest in our societies when itcomes to money issues. It is said well, that wealth does not measure the intellectual capability of one who owns it. Mostly those who own ithave recruited people who have qualifications to manage it for them. Inanother way he points out this that, for our biggest decisions, we haveto research for the biggest not for the smallest ones; every step we are to take needs an informed-vision for it to be successful: a thoroughskill. I put it this way, a planned move always has got stable andsteady state of affairs and fairs well."......"I'm so much grateful to the author that he came up with such a wonderful composition of precise, ease to exercise and concise lessons foreconomics and finances. He has advised money-wise across the life-boardof livelihood. An eye-opening type of book. Whether you are making,lending or getting money, you need to have good knowledge of economicsand finances and its what is written herein. I have put it on my list of worthy-to-read and keep books. "Regular text. I rate this with 4 out of 4." - Online Book Club "Dr. Anthony M. Criniti IV has done it again! In his work, The Most Important Lessons in Economics and Finance: A Comprehensive Collection of Time-Tested Principles of Wealth Management, the author lays out a thorough study of principles relating to finance and economics. The book has three main parts. Part One is for the more scholarly, who would like to know the background of what Dr. Criniti has studied, how he defines some of the main terms he uses, and what the possible benefits and limitations are to this work. PartTwo lays out Dr. Criniti's top 218 Principles for Economics and Finance. There are categories like Business, Debt, Ethics, Investing,Personal Finance, etc. and there are several principles under each category. Principles like: "If you have the option, eliminate the difficult clients for maximum efficiency" and "Simplifying your product or service has strong marketing appeal" and "The more risk you take, the more you can lose or make" and about 215 more like that. Each principle has a paragraph or two explaining the rationale behind the sentence in detail. Part Three is essentially a summary of Part One, plus the bibliography, index, and other appendixes. Part One was extremely interesting to me and reminded me of my research for my Master's degree(terminology and limitations and qualitative versus quantitative and other lovely terms which are very thrilling when you have worked with them), but if I didn't have that background, I'm not sure I'd have had a clue what he was talking about half the time. Which is why Dr. Criniti wisely mentions in the introduction that those not interested in that aspect could just skip to Part Two. Part Two is very easy to read and understand and is so good! Each principle is about half a page but has the wisdom of half a century in it. I read each principle thinking "oh yeah, I've seen that proven" and "yep, that is how I interact with businesses, so I suppose that is how other people would interact with mine." Each principle seems so simple, and yet is so profound. Part Three is a summary of Part One. If you can't wade through Part One, read Part Three for the essential nature of it. But Part Two is the absolute must-read section of the book. I don't think I will ever forget this book. The Most Important Lessons in Economics and Finance is now one of my top ten favorite books ever!" -Reviewed by Ashley Tetzaff for Readers' Favorite "The Most Important Lessons in Economics and Finance: A Comprehensive Collection of Time-Tested Principles of Wealth Management is a work of non-fiction in the business and finance sectors, penned by author Dr.Anthony M. Criniti IV. A further exploration of his work in the volume The Necessity of Finance, this collection of considerations focuses on the essential principles of wealth management. It delivers the ideas in an accessible format for anyone to understand at a foundational level,breaking down terminology and jargon to demystify the philosophy surrounding finance and show its bare mechanical workings. Topics such as charity, debt, business, ethics, health, international matters, and personal finance are covered, as well as many more. Students seeking a comprehensive guide to the world of finance need look no further than the collection of works presented by author Dr. Anthony M.Criniti IV. The narrative style of the work in this piece shows a determination to pull back the veil on prestigious academic language as well as insider knowledge in the financial world and be certain that students can navigate and understand the core principles right from the off. No matter your experience with finance thus far, this book will give you the full arsenal to be prepared to understand each sector in turn, but also how they work together in the overarching machine of finance and financial science. Overall, I'd highly recommend The Most Important Lessons in Economics and Finance as a go-to guidebook to demystify financial science and get to grips with what's really going on." - Reviewed by K.C. Finn for Readers' Favorite "The Most Important Lessons in Economics and Finance: A Comprehensive Collection of Time-Tested Principles of Wealth Management by Dr. Anthony M. Criniti IV is a non-fiction business book from an expert that contains powerful lessons in finance. In this book, the author shares his principles on finance explored since the beginning of record-keeping. This is a book that continues to explore themes already developed in the Necessity of Finance by the same author and it proposes a path to financial stability and wealth. The author articulates on a variety of topics, providing ground-breaking insights on business, charity, debt management, ethics, financial psychology, human resources, investing, marketing, and a lot more. I particularly loved the sections that deal with personal finance, planning, and saving, where the author teaches readers how to take control of their financial health and wealth. From education, employment, estate planning, family and friends, habits, shopping, to retirement, Dr. Anthony M. Criniti IV identifies factors and habits that can help readers when it comes to generating wealth and putting it in the right place. This is one of the best books I have read on wealth management and one that will appeal to fans of Rich Dad, Poor Dad. It is written in language that is simple and accessible with examples that readers can quickly relate to. The author writes with authority and brings into the work his years of experience as a finance consultant and university professor. It is packed with lessons for readers who want to take control of their finances and make it grow. You want to earn more money and grow your wealth; this book provides the tools you need." - Reviewed by Christian Sia for Readers' Favorite Excerpt. © Reprinted by permission. All rights reserved. From the Preface of The Most Important Lessons in Economics and Finance (2014) by Dr. Anthony M. Criniti IV: This book was written as a follow-up to my former book, The Necessity of Finance , where a foundation was set to explain the characteristics and significance of economics and finance. We now continue our learning journey by exploring the most important lessons of these two sciences. These lessons, expressed in the form of principles, are my bold attempt to summarize what has been learned since the beginning of record keeping on the wealth management of economic and financial entities.The principles are a result of an accumulation of over fifteen years of notes on these subjects that I have gathered from my experience in the financial field, ranging from being a financial consultant to my current role as a finance professor teaching at the undergraduate and graduate levels at various universities. They are also derived from a variety of sources, including the works of many of the greatest contributors to the two sciences. To my knowledge, they represent the most comprehensive collection of qualitative principles in the field of economics and finance.I give these lessons to you from the bottom of my heart, with the best intentions, to reveal the secrets of two of the most important sciences. But reading these principles alone is not enough to master them. You must live them. You must think of creative ways to learn these lessons by incorporating them into your daily life. Mastery may take decades, but choosing not to try to master your own wealth can result in harsh consequences, as noted in my previous work.This book starts with an introductory overview of its contents. Next, there is an overview of various related terminology to help you understand the major concepts used. For example, there is a distinction made between laws, lessons, rules, and principles. Third, there is a chapter on the literature review of the related content. Fourth, there is a chapter that discusses how the categories were created for the actual principles. This book also elaborates on the methodology used and various opportunities for future research. Sixth, a chapter is also dedicated to stating any limitations to the material presented. Next, theweight of this book is in Part 2, where the actual principles are explored. Finally, a conclusion is provided in Part 3 to summarize what was learned in the previous sections of the book.This book is targeted to a wide audience, particularly beginners to advanced-level economics and finance students. It is recommended that all students read The Necessity of Finance before proceeding to this book as it will create a better introduction to the various concepts used. However, it is not required. Beginner students can benefit by exploring the principles individually and building familiarity with various concepts.Advanced students and practitioners are a particular target for this book. Some of the feedback that I have received from them on my last book is that they wanted a book that can help them improve their wealth. This book is my attempt to capture the most important lessons from the sciences of economics and finance. Learning these lessons better prepares you to manage your wealth to maximize it. Hopefully, these advanced students will be able to capture this knowledge through intense study of these principles.Economics and finance are very promising sciences that can be helpful to all who spend time studying and practicing it. However, I want to be clear that they are not easy for the average student. This book is designed to be student-friendly, and can be used as a required or supplemental text for colleges or universities. Finally, this book may serve as a direct learning tool to help you create your own path to economic and financial independence.The information in this book covers a wide variety of topics. Some material may interest you, and some may not. The best way to approach it is with patience. You are encouraged to take notes and review sections that are of interest to you. Later, if you decide to take an economics or finance class, you can always refer back to it for maximum results.I highly recommend reading this book slowly. If you move too fast, then you may not have reflected deeply enough on the underlying lessons and/or you may become overwhelmed with information. In particular, itis recommended that you read no more than five principles a day. Ideally, oneprinciple a day is the best practice. Read it early in the morning when you wake up. Then spend the rest of the day reflecting on the essence of it and how it will help you better understand how to manage your wealth.Finally, I have attempted to write this book as objectively as possible, but from time to time my opinions may appear. However, this should have a very limited effect on the main goals of the book, which are to expand off the new paradigm of the economic and financial concepts introduced in The Necessity of Finance ; explore the most important lessons in economics and finance; provide a platform for economic and financial entities to be able to better manage their wealth; and create a foundation for future research studies on these subjects. Enjoy! Are you the master of your wealth? Are the sciences of economics and finance a complete mystery to you? Without a firm understanding of their principles, your wealth is like a plane without a pilot. The Most Important Lessons in Economics and Finance: A Comprehensive Collection of Time-Tested Principles of Wealth Management puts you in the pilot's seat. Respected finance professor Dr. Anthony M. Criniti IV leads you through the fundamental principles of wealth management.xa0 The conclusions of his many years of extensive research are universally pertinent to various economic and financial entities. xa0xa0Dr. Criniti reveals the best and most effective lessons in economics and finance throughout time, supplementing this wealth of information with his personal experience in the financial arena. xa0This book addresses a variety of categories of wealth management principles including: business, charity, debt, diversification, economics, ethics, financial psychology, health, human resources, international finance, investing, marketing, money, personal finance, planning, and saving. If you want to maximize your wealth management results, The Most Important Lessons in Economics and Finance is the book to help you achieve your goals. Dr. Anthony M. Criniti IV (also known as "Dr. Finance") is known as a major disruptor in the science of finance, revolutionizing the field's entire academic foundation. He holds a PhD in applied management and decision sciences, with a concentration in finance, from Walden University. He earned his BBA at The George Washington University with a concentration in international business. He earned a master of science in financial services from The American College, where he also obtained prominent financial designations, including Chartered Financial Consultant (CHFC), Chartered Life Underwriter (CLU), Registered Executive Benefit Consultant (REBC), and Registered Health Underwriter(RHU).Dr. Criniti holds Pennsylvania licenses in fixed annuities, life and health insurance, and real estate. His various professional experiences include work as an investment and a retirement specialist for The Vanguard Group, as a financial planner for several hundred clients, and as a real estate developer.A native of Philadelphia, Dr. Criniti is a professor at several universities, an active investor in various marketplaces, an explorer, a financialist, a survivalist, and has traveled around the world studying various aspects of finance. He is the author of three acclaimed finance books: The Necessity of Finance (2013), The Most Important Lessons in Economics and Finance (2014), and The Survival of the Richest (2016). Read more