In the personable Bodega Bakes, pastry chef Paola Velez presents just that: sweets that can be made solely from the ingredients found at a corner store.
In the personable Bodega Bakes, pastry chef Paola Velez presents just that: sweets that can be made solely from the ingredients found at a corner store.
Previous
Next

All Nonfiction Coverage

Filter by genre
Review by

Have you ever needed clear-cut, specific information on a gardening subject? You check your favorite gardening magazine and find more fluff than substance. The gardening books you've collected over the years have a little information, but don't address the subject in depth, and your local nurseries, garden centers, and radio garden show hosts haven't a clue. So, where do you go to get the answers?

You do what any serious gardener does. You begin building your reference library on the front end. This is particularly important for beginner gardeners. Beginners have a lot of general questions about everything horticultural, but as they start putting in years of hands-on experience, the tougher, more specific questions become the challenges, and particular interests develop. Every experienced gardener remembers graduating from the basic generalities to the in-depth specifics. Building a good reference library takes time, but there's no guesswork about what sources to begin with. The American Horticultural Society (AHS) has long been recognized for providing gardeners with usable, specific information. Their references, encyclopedias, and guides are affordable, and the topics are extensive and instructive. Below are some of their recent references published by Dorling Kindersley.

Gardening in Shade by Linden Hawthorne offers more choices for sunless gardens than you can imagine. This small text explains the advantages of shade gardening and offers not only flowering and foliage plant lists, but planting plans for shady borders, shady city gardens, planting under trees, planting in damp shade, and special plant collections. Gardening in the shade comes with its own requirements and problems, and this guide explains how to care for shade plants when preparing the bed for planting, giving routine plant care, and keeping shade plants healthy and disease-free. Because shade is not just shade, the guide also discusses plants for light, partial, dappled, and deep shade. A handy calendar of seasonal reminders is included as well as an A-Z plant directory.

Herb Gardens by Richard Rosenfeld is crammed with encyclopedic information about creating formal herb gardens, growing herbs in gravel, brick and paving stone, growing herbs in containers, using herbs in Mediterranean plantings and in mixed borders. Along with extensive plant lists and directory, there are projects for drying and storing herbs, culinary and craft usage, as well as simple herbal remedies. Plant care is discussed, from raising seedlings to harvesting, and the same instructive color photos appear in this guide as in all of the other guides in this series.

Perennials by Ray Edwards is a good introductory primer to perennials. Over the past 20 years, these plants have become more popular in the U. S. than annuals because they don't need to be planted each year, they multiply quickly, and therefore they are cheaper in the long run. This AHS guide introduces beginners to flowering and foliage perennials, offers garden plans to suit any garden site, soil, and style, and discusses designing beds for color. There are instructions for preparing the soil, care of plants throughout the year, and raising new plants from seed, cuttings, or division. Several garden projects show how to create the traditional herbaceous border, manage difficult sites, and grow perennials in containers. There is also a helpful color photo plant directory. If clematis or roses become your passion after being introduced to perennials, you'll also find informative AHS guides on them as well.

Containers by Peter Robinson will convince you that you don't have to have a garden plot to enjoy growing plants. This guide is particularly helpful to apartment, condominium, or small property dwellers. Robinson discusses choosing the right container for the right plant and how to site and group them for an overall pleasing effect. He also offers several projects that allow the container gardener to make painted, stenciled, and mosaic pots, construct wooden windowboxes, planters, and faux stone troughs. He explains plant care from choosing various soil mixes and planting to caring for potted plants throughout the year. A colorful plant directory gives the mature size of plants, and a section on edible plants for container growing will broaden any beginner's gardening skills and enjoyment.

Ponds & Water Features, also by Peter Robinson, shows you how to create both small and large ponds and water features. Again, those who live in apartments or small dwellings will be interested in this guide, because Robinson proves that you don't need a lot of space to enjoy the sound of water. His guide shows you how to choose a water feature that suits the style of your garden, taking into consideration traditional, contemporary, and multicultural influences. He demonstrates how to make a simple lined pond, add beaches and bog gardens, cascades and canals, create bubble fountains and wall fountains. There is also an important section on choosing and planting water plants and maintaining them throughout the year. A color plant directory for water environments waterlilies, lotuses, marginal plants, and moisture-loving plants is at the end of the book.

Plant Propagation, edited by Alan Toogood, is a larger comprehensive reference for dealing with all methods of propagation for more than 1,500 plants. It is beginner-friendly and offers easy-to-follow, step-by-step explanations. Each entry in the A-Z section tells you which method of propagation to use for which plant, when to propagate, and what degree of skill each method requires. The book explains which seeds need special treatment before sowing, how to provide the conditions to ensure good germination, the yield you can expect, and length of time to maturity. If you haven't a clue about taking cuttings from specific plants and insuring successful rooting, Toogood simplifies things for you. His resource is so comprehensive that this is the only plant propagation reference you'll ever need. AHS offers many more references, encyclopedias, and guides than are discussed here, and each provides the same concise, informative material and color photo entries. Beginners should be choosy about the references that form the core of their garden library. Other books written with a European or English bent may tempt beginners with colorful pictures of lush gardens and seemingly easy-to-grow plants accompanied by copious instructions, but it would be wise to leave them for later enjoyment.

Beginners will soon realize that growing conditions in American are not the same as growing conditions in other countries. Growing anything here is far more difficult than growing plants in other countries. America is a country of extremes, and each of our many regions has its own particular problems. Other countries don't have to put up with annual drought, blizzards, tornadoes, hail storms, floods, high humidity, plunging frigid temperatures, torrential rains, occasional volcanic cloud cover, and 115-degree heat waves. The goal of the AHS is to educate people of all ages in becoming successful and environmentally responsible gardeners. By advancing the art and science of horticulture, they hope to make this goal a reality. To find out more about the Society, beginners can find them online at www.ahs.org.

Pat Regel writes and gardens in Mt. Juliet, Tennessee.

Have you ever needed clear-cut, specific information on a gardening subject? You check your favorite gardening magazine and find more fluff than substance. The gardening books you've collected over the years have a little information, but don't address the subject in depth, and your local nurseries, garden centers, and radio garden show hosts haven't a […]
Review by

If you lack the stamina to slog through another 600-page fact-fest but retain a taste for biography and admire good writing, Penguin Books is publishing the ideal series for you. When Penguin first announced that they were launching the series, the volumes of which weigh in at 150-200 pages, a few curmudgeons were heard to mutter words like McBio. Au contraire. These little books read not as Reader's Digest summaries, but as thoughtful, extended essays by literary writers who understand their subjects. Both the subjects and their biographers are surprising.

Frequently they are an inspired match, as with the first two volumes, which came out in January Edmund White's Marcel Proust and Larry McMurtry's Crazy Horse. Any series of biographies is an acknowledgment of human diversity, and this one certainly celebrates it. Out this month are two more in the series, Peter Gay on Mozart and Garry Wills on St. Augustine. Later this year Penguin will publish Edna O'Brien's James Joyce and Jonathan Spence's Mao Zedong. Slated for the future, appearing at a rate of six per year, are such appealing combinations as Jane Smiley on Charles Dickens, Patricia Bosworth on Marlon Brando, Marshall Frady on Martin Luther King, Jr., and Karen Armstrong on the Buddha.

If you aren't familiar with the life of the author of Remembrance of Things Past, you'll be in for some surprises in Edmund White's Marcel Proust. Did you know that the asthmatic aesthete left his cork-lined fortress of solitude and challenged several men to duels when they dared to suggest in print what everyone already knew that he was a homosexual? White elegantly weaves an analysis of Proust's sex life into the many other strands that made him such a complicated figure, from illness and emotional dependency upon his mother to his natural historian's passion for dissecting every subspecies of class status. Meanwhile, at the opposite end of every kind of spectrum you can imagine, there is the life of Crazy Horse. Larry McMurtry, thoughtfully piecing together shards of a story, is quick to point out how little we really know about the man we call Crazy Horse. Still he recalls to life the ghostly, mythical figure that hangs over our memories of one of the great tragedies of American history, the relentless genocide that a solitary man was forced to battle and which ultimately killed him. Resisting the myths, yet first drawn to Crazy Horse because of them, McMurtry employs his vast knowledge of the era and his considerable narrative gifts in a curious performance, and an oddly moving one.

Peter Gay seems perfect to probe the mind of one of the great geniuses of Western music, and he does so with his usual expertise and style in Mozart. The life of Mozart, he begins, is the triumph of genius over precociousness. Who would not keep reading after that gauntlet of a first sentence? Along the way Gay reevaluates the influence of Wolfgang's famously tyrannical father. Historian Garry Wills looks a bit farther back into history than usual with his St. Augustine. Naturally the ever contentious Wills questions some of the standard myths of Augustine's life, such as his early sexual excesses. His combined analysis of the man, the leader, and the writer is fascinating. The Penguin Lives series is off to an impressive start.

Michael Sims is the author of Darwin's Orchestra (Henry Holt).

If you lack the stamina to slog through another 600-page fact-fest but retain a taste for biography and admire good writing, Penguin Books is publishing the ideal series for you. When Penguin first announced that they were launching the series, the volumes of which weigh in at 150-200 pages, a few curmudgeons were heard to […]
Review by

It may well be the id of our economic decision-making. We spend with impunity, use our charge cards with abandon, and deliver unto ourselves the material goods our parents could not afford. We know better, of course. But on a powerful instinctual level, we don't care. Like Freudian characters on a whirlwind shopping spree, we are driven to dismantle our financial futures as we erode the spiritual side of our financial lives. Of course, it doesn't have to be this way, as these authors will attest.

The authors of two new books would have us conquer ruinous spending tendencies and set forth on a path of psychic fulfillment in our economic lives. As we embark on this path, authors of three other books would guide us in making the right choices in investing in the stock market, in mutual funds, and, ultimately, in ourselves. Let's begin with a key question: since we are capable of achieving wealth, why aren't we rich? Do we feel guilt for wanting more than we have? Insecurity about what we already possess? These emotions are potent psychological barriers to wealth. The Courage to Be Rich: Creating a Life of Material and Spiritual Abundance, shows how to overcome those hurdles. Abundance is available, promises Suze Orman, the book's widely known author and financial planner. Riches are attainable. But emotional obstacles can keep us from having what we want and fully enjoying what is ours.

Orman should know. The PBS luminary and author of the best-selling book The 9 Steps to Financial Freedom lost her courage after discovering that a burglar had plundered the files of her young business. While recovering from that devastating setback, she began to look at her personal life in a new way, following a course that eventually restored her pocketbook and replenished her personal well-being. In this, Orman's third book, the author tells how we can change our lives, too, leaving behind our mistakes as we seek to achieve personal and monetary wealth.

The author provides plenty of financial guidance, from home-buying to opening an Individual Retirement Account and charitable giving. She tackles common-sense questions typically not addressed in other money-management books: am I liable for the debts my spouse incurred before our marriage? (No.) Do I have a legal duty to support my spouse during marriage? (Yes.) One chapter focuses on what is yours, mine and ours in a relationship addressing many of the questions people face in second marriages or life partnerships.

Money, explains Orman, has its own life force that affects all aspects of our lives. If we neglect our checking accounts and accumulate belongings for which we have no immediate need, we strip ourselves of more than money. When we face financial bankruptcy, is it any wonder we face spiritual bankruptcy, too? The opposite condition the one to which we all aspire is Orman's vision of a rich and radiantly abundant life, where there is spiritual fullness and clarity of purpose, where we value people, money, and material things in that order.

While Orman delves into the courageous side of wealth, author Maria Nemeth's forte is the psychological power money holds over each of our lives. Nemeth's book, The Energy of Money: A Spiritual Guide to Financial and Personal Fulfillment, asks us to view our relationship with money as a metaphor for the other connections in our lives.

In short, basic assumptions we make about ourselves and our personal associations also govern our decisions about money. To understand this is to grasp motivations in nearly all our activities: Why we spend. Why we save. Why we go through life without properly defining what we want to achieve. Why we neglect or insidiously misdirect our personal lives. What's more, once we are swept in a misguided direction, how do we recognize where we went wrong and embark, instead, on the road to abundance in our lives and in our bank accounts? We are so immersed in the culture of currency, explains Nemeth, a clinical psychologist, that asking us to look at our relationship with money is like asking a fish to look at the water it's swimming in. Maybe so. But Nemeth does a commendable job of getting us to examine the lives we create for ourselves so that we may better recognize our motivations and fulfill our standards of integrity relating to our handling of money. Once we have identified our inner blocks to progress, writes Nemeth, we can abandon old beliefs, conquer obstacles, and willingly accept support from others. This, she promises, will set us on the path to mastering the energy of money.

Of course, as we begin to master money, we must learn how to properly invest it. The Book of Investing Wisdom: Classic Writings by Great Stock-Pickers and Legends of Wall Street serves as a foundation. Edited by Peter Krass, this anthology is a classic in a sea of modernistic investment theory, with contributions by stock-pickers and legends such as Warren E. Buffett and Abby Joseph Cohen.

The introduction traces Wall Street from its historical beginnings. Wall Street in Manhattan, for example, started as a 12-foot-high wooden stockade the Dutch settlers of New Amsterdam built to protect themselves from repeated attacks from the British. After the Dutch surrender, the British in 1685 built a road alongside the former stockade site and named it Wall Street. American securities trading and modern analysis, naturally, came later. But the connection to history seems evident still in Warren E. Buffett's contribution to the analysis section. Buffett studied under the late Benjamin Graham, who in 1934 co-wrote a seminal book on securities analysis and whose writings are included in the anthology.

Contributors also include gurus Peter Lynch, made famous for transforming Fidelity's Magellan Fund into a $13 billion powerhouse, and Abby Joseph Cohen, the woman who's assessments of impending market cycles are among the most closely watched on Wall Street. Martin E. Zweig of the top-ranked newsletter, Zweig Forecast, tells why it's sometimes better to sell short (bet that a stock will go down). And real estate magnate Donald Trump tells us why, on occasion, he fights back and wins. His telling observation: Money always talks in the end.

Making sound investment choices is central to the next book, The Winning Portfolio: Choosing Your 10 Best Mutual Funds by author Paul B. Farrell. There's no mystery to becoming wealthy. It takes discipline, writes Farrell, director of CBS MarketWatch's Mutual Fund Center. But it need not take all your spare time.

Indeed, Farrell's strategies for investing are refreshing and ingenious in their simplicity. Among them: do your own investing and focus on mutual funds. Start saving early in life (or right away if it's late) and do so with practiced regularity. Take full advantage of your employer-sponsored 401(k) plan. Select a portfolio strategy that meets your needs (such as income preservation v. aggressive growth), and hold onto your funds once you buy them.

Most appealing is that Farrell does much of the work for the investor by researching and compiling America's top 100 superstar funds. The top 100 is a welcome relief to anyone starting out in the 10,000-plus mutual fund world. The book conveniently breaks worthwhile funds into useful categories (index funds, aggressive growth, global and international, bond funds, and so on). Best of all, Farrell provides text on each selection, giving insight into fund managers, fund performance, and the investment strategies.

There's another facet of mutual funds that many investors will want to consider. In recent years, value or socially responsible funds increasingly have allowed investors to choose portfolios that mirror their own values. Investing with Your Values: Making Money and Making a Difference, by authors Hal Brill, Jack A. Brill, and Cliff Feigenbaum, is well-timed to meet this burgeoning market now a $1.3 trillion industry.

If you want to avoid companies that invest in tobacco or alcohol products, these funds can help you achieve your goals. Hope to avoid companies that engage in animal testing or make military weapons? The authors guide you through the process. The Brills are financial consultants specializing in social investing. Feigenbaum is publisher of the social industry newsletter, GreenMoney Journal. They identify funds that emphasize protecting wildlife or sustaining the environment. Other funds allow you to invest in your own community through affordable housing, small business, or community development lending. The book also tells how you can work to increase corporate responsibility on issues you care about through shareholder activism.

The writers have dubbed social investing natural investing. They define it as an act in which personal values and personal finance dwell together in mutually supportive symbiosis. Their concept is inviting: when we integrate our values with our money, we can achieve financial goals while making the world a better place to live.

Loretta Kalb is a writer in California.

It may well be the id of our economic decision-making. We spend with impunity, use our charge cards with abandon, and deliver unto ourselves the material goods our parents could not afford. We know better, of course. But on a powerful instinctual level, we don't care. Like Freudian characters on a whirlwind shopping spree, we […]
Review by

Bibliophiles got to read about a subject quite close to home themselves with the 1997 publication of Used and Rare. In it, married authors Lawrence and Nancy Goldstone chronicled their initial adventures and misadventures into the world of book collecting. Along the way, they encountered real-life characters that would make any fiction writer envious, and, through skillful narrative pacing, made reading about the hunt for musty secondhand tomes engrossing.

In Slightly Chipped—more of a companion volume than a sequel—the Goldstones actually surpass their first effort on the same subject. Now a bit more experienced, they improve on their story by visiting more of a variety of settings, from a library book sale to a seemingly staid rare book discussion group. The most memorable chapters chronicle an investigation into the almost cultish readers and collectors of mystery books (including a disastrous evening at the Edgar Awards) and their own quest to buy books at Sotheby's Duke and Duchess of Windsor auction.

The Goldstones also delve a bit deeper into the stories about the books and authors behind their purchases, including solid background information on Bram Stoker's Dracula and the various writings of the Bloomsbury group. The inclusion helps you appreciate their desire to own the books, and you can't help but feel involved in their successes and failures or want to read some of the books discussed. The weaknesses in this book are the same as in the first: a tendency toward axe-wielding and sniping at people they don't like; unsolicited reviews of specific bookstores, people, and businesses that may or may not be balanced and deserved; and a strange dwelling on the physical appearances of those the authors seem to consider unattractive.

Regardless, Slightly Chipped, like its predecessor, is a delightful, fresh journey. And even if you couldn't tell the difference between the Kelmscott Chaucer and a modern picture book, Slightly Chipped is a welcome addition to any collection.

Bob Ruggiero is a freelance journalist based in Houston, Texas.

Bibliophiles got to read about a subject quite close to home themselves with the 1997 publication of Used and Rare. In it, married authors Lawrence and Nancy Goldstone chronicled their initial adventures and misadventures into the world of book collecting. Along the way, they encountered real-life characters that would make any fiction writer envious, and, […]
Review by

Honore de Balzac said that marriage is a science. But anyone who has ever planned one knows that weddings are an art. Fortunately, there are numerous new books to help you create your own matrimonial masterpiece.

Real Weddings: A Celebration of Personal Style is a tribute to that diversity. With description that leaves you feeling like you were the guest of honor, Bride's magazine's managing editor Sally Kilbridge tells the personal stories of 16 couples on their special day. Mallory Samson's colorful photographs capture each intimate detail, while painting the big picture of these perfect parties. It's a treat to read about the love stories and behind-the-scenes planning that led to weddings inspired by home, heritage, summer, and fantasy.

How do you keep the terrifying ring of the cash register from deafening the lovely ring of wedding bells? That's what Deborah McCoy answers in her book, The Elegant Wedding and the Budget Savvy Bride. This step-by-step guide shares secrets and strategies to saving money without sacrificing bridal bliss. McCoy, a wedding consultant who owns a bridal salon, starts with ten commandments of wedding planning that underscore the need for forethought, education, and common sense. Along with advice on everything from engagement rings to honeymoons, The Elegant Wedding and the Budget-Savvy Bride provides checklists for vendor contracts, questions to ask yourself and the professionals you hire, and handy budgeting sheets. By showing you how to prioritize and organize, McCoy backs up her simple but comforting theme: Being tasteful will save you money.

Of course, footing the bill is just one of the challenges of planning your big day. In The Couple's Wedding Survival Manual, Michael R. Perry details many more and offers some funny, yet helpful, suggestions for managing the madness. Operating under the assumption that, the human capacity for bickering knows no limits, Perry offers up his final word on topics like in-law management, guest list etiquette, and hassle-free honeymoons. Best of all are his frequent reminders to keep things in perspective. "You can have an all-kazoo orchestra, a minister with halitosis . . . and a limo that smells like formaldehyde," writes Perry. And at the end of the wedding day, you'll still be married which is, after all, the goal.

It is not just the happy couple that needs a sense of humor as they walk down the aisle. Bridesmaids, who traditionally have little say in the dresses they wear, must keep their chins up as they drown in those expensive taffeta terrors that sometimes make Cinderella seem underdressed. Despite the bride's good intentions, don't you just know you'll never wear that frightful gown again? Cindy Walker comes to the rescue with 101 Uses for a Bridesmaid Dress. Among the places where these frilly frocks are always in vogue, says Walker, are a Tara Revisited party or during your stint as guest host of Wheel of Fortune. Donna Mehalko's wicked illustrations do justice to the book's sublimely silly tone. With tongue-in-cheek recycling suggestions, including everything from a vicious scarecrow to a deluxe sleeping divan for your cat, 101 Uses for a Bridesmaid Dress is a great present for a bride to give her tolerant attendants.

Besides making the bride look good, what are a bridesmaid's duties? Emily Post will answer that and many other etiquette questions in the latest edition of Emily Post's Wedding Planner, Third Edition. The latest version serves as a companion to the bridal classic, Emily Post's Weddings. This interactive wedding planner guides you through the ins and outs of creating the big day with to-do lists, cost breakdown sheets, pockets to store contracts and a calendar, and an address book to store all vendor information. Who should attend the rehearsal? What are the hidden costs to look out for in contracts? Do you need to invite unmarried significant others? Author Peggy Post also guides you through the legalities and proprieties of each step along the bridal path.

Emily Post is among the experts quoted in Vera Lee's Something Old, Something New. An unmarried girl should not go alone on overnight trips with any young man, even with her fiance, says Post in Lee's lighthearted look at matrimony. Famous folks as diverse as William Longfellow and Dorothy Parker weigh in with their entertaining opinions and advice on the institution of marriage. Experienced bride Zsa Zsa Gabor says, I personally adore marriage . . . I even cry at weddings. Especially my own. But Something Old, Something New is primarily a fascinating glimpse into marital history and customs from all over the world. If you are going to be showered with rice, it's nice to know why traditionally the grain has been a symbolic wish for a large harvest of babies.

With the stress and confusion that planning a wedding can bring, Lee's book is a wonderful reminder that getting married should be fun. But staying married is hard work. Marg Stark's What No One Tells the Bride presents an honest look at the difficulties that naturally ensue after a couple takes the big plunge. Stark shares her own experiences, and those of 50 brides she interviewed, to offer real-life scenarios of for-better-or-worse. Sidebars provide the ultimate girl-talk confessions and advice, revealing the ambivalence, misconceptions, and disappointment that can sometimes follow you down the aisle. What No One Tells the Bride is not whiny or male-bashing. Stark herself is happily married with no regrets. Her book is frank, yet optimistic and helpful, advising newlyweds to, talk about the exquisite joy there is awakening every day with the same person . . . and enjoy the way marriage surprises the soul.

Emily Abedon is a writer in Charleston, South Carolina.

Honore de Balzac said that marriage is a science. But anyone who has ever planned one knows that weddings are an art. Fortunately, there are numerous new books to help you create your own matrimonial masterpiece. Real Weddings: A Celebration of Personal Style is a tribute to that diversity. With description that leaves you feeling […]
Review by

As the free market economic machine ascends ever higher, through the rubble of Communism and the default of Russia, despite the Asian financial crisis and in the face of the Internet craze, we approach a crossroads. The big question can be boiled down to this: Are we on the right path? Is an ever more open market economy, based on the American model, the proper road toward world prosperity and even human happiness? Or are we headed for corporate domination, enfeebled national governments, and the easy exploitation of the planet's workers and resources? It's amazing how differently the same set of circumstances can be interpreted. It all depends on who you talk to, or, in this case, what you read.

Two new books nicely represent vastly divergent views on where we should be economically headed. We'll start with a book that wants us to do what we're now doing, only more so. In The Future and Its Enemies: The Growing Conflict over Creativity, Enterprise and Progress, author Virginia Postrel argues essentially that the less we try to control and limit the economy, the more it will bring us. The incentives, flexibility, and serendipity of an open society and economy will allow individual genius and innovation to bring us consistent material gains. To hijack a phrase often heard during the presidency of Ronald Reagan, Ms. Postrel, editor of Reason magazine, would let the economy be the economy.

This is an excellent book. It is clearly written, well argued, and broadly sourced. It is a dynamist manifesto that makes the case for letting people, each in his or her own way, invent the future for themselves. No grand plan, and as few limits as possible on technology. Sure there will be failures and bad ideas, but the struggle will allow the right ones to win out. And they likely will be the unexpected ones. Who, for instance, predicted the Internet? The dynamist view is that a freewheeling human-dominated future holds the best chance to create broad-based prosperity and find cures for diseases. Postrel's description of how economic freedom helped the development of eyeglasses and then ever more convenient versions of contact lenses is quite telling.

Her optimism is captured in this passage: Progress does not mean that everyone will be better off in every respect. But under ordinary circumstances, for the random individual, life in a dynamist society tomorrow will be better, on the whole, than life today. David C. Korten doesn't see things the same way at all. In The Post-Corporate World: Life After Capitalism, Korten, who taught at Harvard University and who spent decades as a development consultant in Asia, Africa, and Latin America, tells us why he thinks we are on a very wrong road. To his way of thinking, we are not even in a free market at all. He writes: "For those of us who grew up believing that capitalism is the foundation of democracy and market freedom, it has been a rude awakening to realize that under capitalism, democracy is for sale to the highest bidder and the market is centrally planned by global megacorporations larger than most states." In this latest book, Korten, who also authored When Corporations Rule the World, argues that we have gotten to the point where we have substituted money for life itself. He argues here, among other things, for stakeholder (rather than shareholder) control of companies. Those stakeholders include workers, managers, suppliers, customers, and members of the community where a company is based. Korten's plea is to bring economics back to a human scale and to infuse lives with more than material concerns.

We now journey from broad visions of the future to practical stock investing in the present tense. First, there's the newest offering from the brothers Gardner, David and Tom. They are better known as the founders of The Motley Fool, the popular finance and investing Web site that's now branched into a multi-media enterprise. With two top-selling books for the individual investor already under their belts, the Gardners are back with a third. Their reputation for clever writing and clear explanations remains intact. The new book, The Motley Fool's Rule Breakers, Rule Makers, is about picking stocks.

Plenty of financial services professionals will warn investors away from picking individual stocks, arguing that the broad diversity and professional management available through buying mutual funds is the better course. The Gardners beg to differ. They write: Our thesis for this entire book is that individuals will, on average, spend less time worrying about money, have greater control over their destiny, and substantially improve their results, if they choose common stocks over mutual funds. In addition to being no friends of mutual funds or stockbrokers, the authors don't think much of the financial press. In fact, while spelling out the criteria for rule breaking stocks, those securities likely to outpace the market, they say that discovering that the financial media thinks a stock is grossly overvalued is a good reason to like that very stock. For a stock to merit rule breaker status it must, among other things, be on top and a first mover in an important, emerging industry; it must have a sustainable business advantage; strong past price appreciation; smart management and good backing; and strong consumer appeal. Traditional measures of stock valuation don't fit into this admittedly more-art-than-science approach.

The second half of the book is devoted to identifying rule makers. Those are the companies that essentially have graduated (not all do) from rule breaker status to now dominate their respective industries. Numerical evaluations play a larger role here. Among the numbers the authors advocate you peruse to identify the true rule makers are net margins and gross margins and cash-to-debt ratios. Also, the authors write, these winning companies are focused on mass markets and lock out the competition by selling to the world's daily habits, generating enormous cash flows, believing that their dominance will only come over the long haul, and fairly representing their progress to shareholders. The Gardners offer plenty of examples of flesh-and-blood companies for both categories.

Technology stocks of all types have been high fliers of late. Every Investor's Guide to High-Tech Stocks and Mutual Funds, Second Edition by Michael Murphy is a thorough and thoughtful guide to every aspect of the technology phenomenon. Yes, there's a separate chapter on Internet stocks. Mr. Murphy is the editor of the California Technology Stock Letter and has been an observer of the technology scene for nearly two decades. He makes a strong case for how technology is taking over the economy (strong research and development coupled with falling prices). He also notes that despite all the attention nominally paid to technology, Wall Street professionals still spend a disproportionate amount of time analyzing traditional industries. In addition to doing a good job explaining the various sectors of technology and medical technology, Mr. Murphy offers specifics on investment techniques, individual stocks, and mutual funds.

Ah, youth. Just getting started in the business world? Wondering how to start? Here's a sampling of new books to get you going. There's Reality 101: Practical Advice on Entering and Succeeding in the Real World (Simon ∧ Schuster, $12, 0684846527) by Fran Katzanek. There's also Knock 'Em Dead 1999 (Adams Media Corp., $12.95, 1580620701) by Martin Yate, which boasts great answers to over 200 tough interview questions. And The Future Ain't What It Used to Be: The 40 Cultural Trends Transforming Your Job, Your Life, Your World (Riverhead Books, $14.95, 1573227188) by Mary Meehan, Larry Samuel, and Vickie Abrahamson. And a success story, The CDNow Story: Rags to Riches on the Internet (Top Floor Publishing, $19.95, 0966103262) by Jason Olim, with Matthew Olim and Peter Kent. The cover says it tells how two kids in a basement grabbed the online music business.

Neal Lipschutz is managing editor of Dow Jones News Service.

As the free market economic machine ascends ever higher, through the rubble of Communism and the default of Russia, despite the Asian financial crisis and in the face of the Internet craze, we approach a crossroads. The big question can be boiled down to this: Are we on the right path? Is an ever more […]

Want more BookPage?

Stay on top of new releases: Sign up for our newsletter to receive reading recommendations in your favorite genres.

Trending Nonfiction

Author Interviews

Recent Features