The Year’s Best Books

Nothing weaves a web of magic like a good book. Perk up the grey winter weekends with our assortment of prize-winners and book-club selections! Here are some of the best reads of 2011. — By Vaibhav Sharma

Poor Economics
Rethinking Poverty And The Ways To End It by Abhijit V. Banerjee, Esther Duflo

This book came along at a very opportune moment. Even as questions were raised about our global economics systems and whether they’d failed in helping reduce poverty, we were left wondering what the answer was. One theory after another collapsed, and even the ‘wealthy’ Western countries saw anger over the rising gap between the haves and the have-nots. Abhijit Banerjee and Esther Duflo help answer the questions that puzzle us. In this book, they draw upon their experience of working in the world’s poorest regions, and help shed light upon the true causes of poverty. Probably the best read of the year.

Good Strategy/Bad Strategy
The Difference And Why It Matters by Richard Rumelt

Strategy. In on word, that’s what the role of a senior business leader is. Junior managers and executive might look at the nitty gritties of implementation and tactics, but it is the undisputed general - the CEO - who directs the strategy. Drawing upon his experience as a management guru whose advice is sought by the biggest giants, Richard Rumelt explains what makes a good strategy, and what can undo it. Combining the worlds of economics, politics, technology, and of course, human nature, Rumelt lays bare
the true significance - and methodology - that lies behind an effective strategy.

Onward
How Starbucks Fought For Its Life Without Losing Its Soul by Howard Schultz, Joanne Gordon

Straight from the veritable horse’s mouth, Onward: How Starbucks Fought For Its Life Without Losing Its Soul, is a great account of coffee giant Starbucks efforts to stay true to its ethos. Howard Schultz, who’d stepped down from Starbucks’ helm in 2000, came back eight years later and successfully made it more than just a chain of coffee shops - Starbucks is now as much a part of our popular culture as McDonalds. Read this for his account of the behind-the-scenes struggle over positioning and strategy, and how he overcame opposition and strategy conflict to keep the Starbucks brand flying high.

Debt
The First 5,000 Years by David Graeber

We all know the conventional science that lies behind our modern-day economics systems. How we moved away from the barter system to an age of fiat currencies is something ever business student will know. But how did this actually happen? What were the historical events, trends, and decisions that led to today’s world when debt seems to be spiralling out of control?

Anthropologist David Graeber shares his view of mankind’s economic history. In Debt: The First 5,000 Years, Graeber shows how even religion has been tightly bound with our economy, and that no study of human financial condition can ever ignore societal pressures and history. A fascinating - and timely - read indeed.

In The Plex
How Google Thinks, Works, and Shapes Our Lives by Stephen Levy

Wired and Newsweek journo Stephen Levy presents the inside story of Google, perhaps the most admired - and pervasive - technology company of our age. Google’s adoption of new technology, its entry into new markets, and its efforts to combat rivals, have all made it an indispensable and integral part of any business curriculum. An excellent read that makes light work of the most significant tech giant of our time.

Wilful Blindness
Why We Ignore The Obvious At Our Peril by Margaret Heffernan

Hindsight is a wonderful thing indeed. And especially with today’s muddled economics scenario, we’re all blessed with insight into how things went wrong. We’re also left wondering how no one could see that the global economy was a train wreck in slow motion.

Here, journalist and academic Margaret Heffernan reveals how we often ignore the obvious and straightforward. The mystery of idealistic young executives who get ‘caught in the system’, and officials who ‘wait and watch’ is all explained here. Delving into our societies and family structures, and taking the reader through school, college, and the workplace, this book shows how we always have to be alert - and be able to filter out what’s not relevant.

We First
How Brands and Consumers Use Social Media to Build a Better World by Simon Mainwaring

Social media expert Simon Mainwaring puts his experience at some of the world’s biggest brands to paper as he explains how brands must leverage social media to survive. This award-winning book will take the reader on a journey through the newest marketing medium - and its pitfalls. With a heavy focus on how brands can utilise loyalty not just for their own benefit, but also to create positive change in society, Mainwaring sets out a vision of quick-thinking and human capitalism that’s so
relevant today.

The Price of Civilization
Economics and Ethics After the Fall by Jeffrey Sachs

Eminent economist and thinker Jeffrey Sachs is no stranger to the perils of a modern-day global economy that’s heavily interlinked. Here, he explains just what we need to set our houses in order. From the human face of capitalism, to corporate reform, to governance issues that may not be too glamorous but affect our daily lives, Sachs details what can be done to fix the mess humanity has found itself in. Read his vision of a co-operative economy that moves us away from traditional notions of conflict and dominance.