paul muolo

Bad Economy = Big Book Bucks

Thursday, September 25th, 2008

Perhaps there is one silver lining on the Wall Street financial crisis. According to a recent Associated Press story, books about America’s big money troubles are making the big bucks.

Nancy Sheppard, the vice president of marketing at Viking publishing told AP: ”When the world seems to be ending, people still turn to books for help.”

Viking published the Amazon best selling Bad Money: Reckless Finance, Failed Politics, and the Global Crisis of American Capitalism by Kevin Phillips. Like the title implies, the book discusses a new phenomenon called “bad money” in which the U.S. is dependent on the global economy and makes a series of risk miscalculations with financial products. Does this sound familiar?

Another Amazon best-seller is Naomi Klein’s The Shock Doctrine: The Rise of Disaster Capitalism. Her book talks about the economic policy decisions that politicians were able to pull off because of natural disasters, wars or other catastrophic events. Hmmm….

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