Orem Library

In The World Is Flat, the highly-regarded New York Times columnist Thomas L. Friedman advances the work on globalization that made his The Lexus and the Olive Tree a bestseller. Claiming that the world is now at an important historical point--as important as the changes brought by the discoveries by Columbus or by the Industrial Revolution--Friedman analyzes the events, inventions, and business practices that have resulted in a changed world, one...

Friedman discusses how the key to understanding the 21st century is understanding that the planet's three largest forces--Moore's law (technology), the market (globalization) and Mother Nature (climate change and biodiversity loss)--are accelerating all at once. And these accelerations are transforming the five key realms: the workplace, politics, geopolitics, ethics, and community. Friedman posits that we should purposely "be late"--we should pause...

At any given moment, some market somewhere is making headlines because it’s either hitting record highs or crashing down to earth. Learn how to approach the uncertainty of financial markets with savvy and common sense. Focus on strategies that can help you reach your financial goals..

Close by learning how to take the economic “stress test,” inspired by bank evaluations made in the wake of the 2008 financial crisis. This simple exercise helps you anticipate the most significant reversals you are likely to meet, helping you approach uncertainty with confidence and calm..

When is a risky project worth doing? Learn how corporate managers decide whether they should undertake a new enterprise. Discover that simple graphic aids, such as scenario analysis and decision trees, are powerful tools for weighing risk in both business and daily life..

Adverse selection occurs when the lack of information by one party leads to a distorted result. See how this situation surfaces in many different contexts, from used car sales to investment deals to Internet purchases. Learn to recognize the adverse selection trap, and know how to correct it..

Examine another outcome of asymmetric information: the moral hazard problem. This peril arose spectacularly in the 2008 financial crisis, with the widespread sale of bad loans to unwitting investors. But it also lurks in many small-scale transactions. Discover what you can do to combat it..

Examine tools that professionals use to hedge against financial risk, such as forward contracts and financial options. Study the suitability of these instruments for individuals. Then probe a more flexible strategy: real options, which are opportunities that can be seized or declined as conditions warrant..

Examine two different types of probability. Frequency-based probabilities rely on many examples of a phenomenon, while subjective probabilities call on personal experience and judgment, often drawing on relatively few cases. Learn to think critically about these two approaches, and know when to use them..