4 out of 4 stars
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The Necessity of Finance by Dr. Anthony M. Criniti offers different view on finance. The book emphasizes the importance of definition, distinguishing finance from economics and other sciences, so that its purpose and inventions are clear. The book gives fresh and original views, which makes you think more deeply about the subject and all you have heard and learned so far.
The book helped me to not only understand the basic definition of science, finance, economics, investing, saving, and other related concepts, but made me aware of the bigger picture and current problems. For example, if the definitions are not clear there is a lot of overlapping in college subjects, innovation without a purpose of a bigger picture, and scientists disagreeing on the base principles. Moreover, there is an issue of Nobel Prize given in the field of economics, despite the area of study not falling under this field.
Although I was already aware of the importance of learning the subject of finance, the book makes it clearer in various ways. For example, by saying: ‘If a person makes a financial mistake ...the lesson is not free. Actually, in some cases, it could cost the individual his only opportunity for fortune in his life. “, where the author continues to give example of losing one's life savings. Finance in that regard is compared in importance with medicine, the monetary loss as dangerous as getting sick or ending in the hospital. This is, of course, because it can lead to attempted suicide, or mental health problems.
On the downside, although a book offers some intriguing concepts which help bring positive change in perspective, after a while it can get dry. The book is mostly definitions, without much storytelling, which may be difficult to read. Also, there are iterations of similar concepts throughout the book, which may add towards loss of interest.
I would, however, use this book to search for a proper definition to better my understanding on finance. I believe it would be a wonderful basis to get back to, similar as dictionary.
I would recommend this book for all wanting to have a different view about finance. My own background is in mathematical statistics, and it made me think more deeply about its connection with finance, as well as problems relating to it. Author himself mentions that recommended audience is anyone, since finance is at its lowest about survival and if all are more skilled at it, more of us may concentrate on other things relevant for our happiness and liveliness.
Overall, I enjoyed this book and believe that some of the concepts are revolutionary in its simplicity. Quoting from the book: "...simplicity, when demonstrated in its purest sense, has a way of transforming a concept or subject into something with a totally different meaning.", which is exactly what this book has accomplished. Congratulations to the author. My rating for this book is 4 out of 4 stars.
The Necessity of Finance
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