Year 2020 went by so quickly and so slowly at the same time. As usual, I spent a good portion of my time reading books. Although I am not a fast reader, I like to read books consistently. In 2020, I finished 19 books total, not too few and not too many, and am still currently reading a few more books.
Although most of my blog comprises postings from a weekly bible study, many books that I read are not exclusively related to Christianity. As an energy economist, I tend to read books related to economics and energy. Reading books across a wide variety of topics helps me to gain a new perspective on the Word of God as well.
Here’s a list and succinct summary of the books that I read in 2020, starting with four books on economics history.
- The Commanding Heights: The Battle for the World Economy. By Daniel Yergin, Joseph Stanislaw. 1998
- Capitalism Alone: The Future of the System that Rules the World. By Branko Milanovic. 2019
- The Meritocracy Trap: How America’s Foundational Myth Feed Inequality, Dismantles the Middle Class, and Devours the Elite. By Daniel Markovits. 2019
- The Zero Marginal Cost Society: The Internet of Things, the Collaborative Commons, and the Eclipse of Capitalism. 2014
Only in hindsight, I realized that these four books are very intertwined with each other. The Commanding Heights depicts the major idea battle in the 20th century between the state-led and market-led commanding heights, the term first used by Lenin that indicate key industries of the nation, including utilities, natural resources, and other sectors in foreign and domestic trades. Capitalism Alone provides descriptions of two representative forms of capitalism – liberal meritocratic capitalism and political capitalism – led by the United States and China – and makes a general outlook for these two from now in 2020. The Meritocracy Trap is a thought-provoking book that shows serious side effects of the promotion of meritocracy in the developed world, especially the United States. The Zero Marginal Cost Society depicts a current trend in many sectors where cost of production is falling to zero, which may dismantle the current capitalism system into a system of collaborative commons.
Comparing and contrasting views on capitalism by Capitalism Alone with the Zero Marginal Cost Society would be an enriching thought exercise to assess how the world’s commanding heights will evolve in the near- to mid-term future.
- The New Jim Crow: Mass Incarceration in the Age of Colorblindness. By Michelle Alexander. Originally published in 2010. New edition in 2020.
This book revealed so many unjust elements in this society that I was completely oblivious of. Don’t be fooled by the successes of the likes of Barack Obama, Oprah Winfrey, or LeBron James. The system of slavery is gone. Jim Crow laws are gone. Yet, the New Jim Crow is a systematically-discriminating legal prison system, especially against the colored, in the United States, which started with the War on Drugs in the 1980s. Read the book. We need to know the hidden injustice.
- The Art of Loving. By Eric Fromme. 1956
- Encounters with Jesus: Unexpected Answers to Life’s Biggest Questions. By Tim Keller
- Knowing God. By J.I. Packer
Although I am not sure whether Eric, the author of The Art of Loving, is a follower of Christ or not, I think this book should be highly recommended within Church communities. It will challenge us to rethink the concept of love, which requires discipline, concentration, and practice. The world teaches that we fall in love (based on emotion), but God’s love is an action that emanates from one’s totality. Love is a complete interpersonal union. Not an easy read, but a short, compact book of 117 pages.
Encounters with Jesus by Tim Keller provides numerous examples of people meeting with Jesus in the Bible. Knowing God by J.I. Packer will enlarge your knowledge of God in many perspectives. Go ahead and read them.
- AI Superpowers: China, Silicon Valley and the New World Order. By Kai-Fu Lee. 2018
Artificial intelligence (AI) is a buzz-word these days. Kai-Fu Lee had ample experiences in leading tech companies in both the United States and China and laid out their comparable positions in four areas of AI: internet, perception, business, and autonomous. He states that the competition and dynamism in the China tech ecosystem far exceeds that in the Silicon Valley. A surprising element in the book is the author’s personal story. After he suffered from an outbreak of cancer, he realized the very importance of family and love. Since then he has been focusing on developing AI technologies to serve people, not the other way around, with a focus on family love.
- Economics of Electricity: Markets, Competition and Rules. By Anna Cretì and Fulvio Fontini. 2019
- Solar Power Finance Without The Jargon. By Jenny Chase. 2019
These two books relate to my profession, economics of electricity markets.
The first one Economics of Electricity speaks to the “soul” of the electric industry, which comprises regulations and market rules to facilitate healthy market operation and competition to benefit consumers. The book uses some graduate-level mathematics to explain important concepts, but not too difficult.
The second book on Solar Power Finance provides a story of the author’s joining start-up called New Energy Finance, which was eventually acquired by Bloomberg.
- Leadership: In Turbulent Times. By Doris Kearns Goodwin. 2018
The book portrays four past presidents in the United States: Abraham Lincoln, Theodore Roosevelt, Franklin Roosevelt, and Lyndon Johnson. All four of them had a few monumental achievements whose effects still resonate large today. However, these achievements did not come easy. All four of them underwent excruciatingly difficult personal trials, which could have broken them completely. Yet, they emerged more mature and strong. Highly recommended.
As Christians, what I learned from this book, among many things, is the posture that we can take in times of fierce trials.
- The Intelligent Investor. By Benjamin Graham. 1949
- The Essays of Warren Buffett: Lessons for Corporate America
- Rich Dad Poor Dad: What the Rich Teach Their Kids About Money that the Poor and Middle Class Do Not! By Robert Kiyosaki. 1997
Because the year 2020 had such a tumultuous stock market, I picked up a few books on the core principle of investment. Graham and Buffet (who is considered a protege of Graham) continued to emphasize the importance of value investing, not speculation. Put some analytical mind to uncover solid companies and be a partner with them for a long-term (at least 10 years). These books do not teach how to trade, or how to time market, which is impossible to do.
Rich Dad and Poor Dad provides a valuable insight on differentiating assets from liabilities. This differentiating will give you the financial freedom that you desire.
- Being Mortal: Medicine and What Matters in the End. By Atul Gawande. 2014
If you have any loving people becoming old and fragile, and even if you don’t, this book is a great read. This is Atul’s personal reflection from many interactions with aging patients, including his own father. The book emphasizes nurturing the well-being of these aging people, respecing their freedom, not just their fancy high-tech treatment or safety.
- Thinking Slow and Fast. Daniel Kahneman. 2011
An insightful book on a dichotomy between two modes of thought: “System 1” is fast, instinctive and emotional; “System 2” is slower, more deliberative, and more logical. The book contains many examples of how these two compete, interact, and compliment each other. Many instruction examples will entertain you.
- The Polymath: Unlocking the Power of Human Versatility. By Waqas Ahmed. 2019
- Polymath: Master Multiple Disciplines, Learn New Skills, Think Flexibly, and Become an Extraordinary Autodidact. By Peter Hollins. 2020
Have you heard the term polymath before? The 21st century belongs to polymaths. A polymath is “an individual whose knowledge spans a substantial number of subjects, known to draw on complex bodies of knowledge to solve specific problems.” This synthesizing ability across different disciplines will become more and more important in the 21st century. Be aware of narrow specialization, the book argues.
The first book provides a deeper explanation and the encyclopedia-like list of polymaths across different time periods, nations, and culture. The second book is a shorter version that focuses on the application on how to become a polymath.
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