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Reviewed by Ashley Tetzaff for Readers' Favorite
Dr. Anthony M. Criniti IV has done it again! In his work, The Most Important Lessons in Economics and Finance: A Comprehensive Collection of Time-Tested Principles of Wealth Management, the author lays out a thorough study of principles relating to finance and economics. The book has three main parts. Part One is for the more scholarly, who would like to know the background of what Dr. Criniti has studied, how he defines some of the main terms he uses, and what the possible benefits and limitations are to this work. Part Two lays out Dr. Criniti’s top 218 Principles for Economics and Finance. There are categories like Business, Debt, Ethics, Investing, Personal Finance, etc. and there are several principles under each category. Principles like: “If you have the option, eliminate the difficult clients for maximum efficiency” and “Simplifying your product or service has strong marketing appeal” and “The more risk you take, the more you can lose or make” and about 215 more like that. Each principle has a paragraph or two explaining the rationale behind the sentence in detail. Part Three is essentially a summary of Part One, plus the bibliography, index, and other appendixes.
Part One was extremely interesting to me and reminded me of my research for my Master’s degree (terminology and limitations and qualitative versus quantitative and other lovely terms which are very thrilling when you have worked with them), but if I didn’t have that background, I’m not sure I’d have had a clue what he was talking about half the time. Which is why Dr. Criniti wisely mentions in the introduction that those not interested in that aspect could just skip to Part Two. Part Two is very easy to read and understand and is so good! Each principle is about half a page but has the wisdom of half a century in it. I read each principle thinking “oh yeah, I’ve seen that proven” and “yep, that is how I interact with businesses, so I suppose that is how other people would interact with mine.” Each principle seems so simple, and yet is so profound. Part Three is a summary of Part One. If you can’t wade through Part One, read Part Three for the essential nature of it. But Part Two is the absolute must-read section of the book. I don’t think I will ever forget this book. The Most Important Lessons in Economics and Finance is now one of my top ten favorite books ever!