Archive for

February 2010

My Albums of the Decade

WXPN published their top 88 Albums of the Decade last week: http://xpn.org/allaboutthemusic/xpns-albums-of-the-decade-6146. This prompted me to compile my personal favorites list in chronological order, which I tried to restrict to less than 20 entries.

  • Sailing to Philadelphia by Mark Knopfler (2000)
  • Look into the Eyeball by David Byrne (2001)
  • Yankee Hotel Foxtrot by Wilco (2002)
  • Yoshimi Battles the Pink Robots by The Flaming Lips (2002)
  • Cuatros Caminos by Café Tacvba (2003)
      though Sino (2007) is also excellent

  • Feast of Wire by Calexico (2003)
      though Carried to Dust (2008) is also excellent

  • O by Damien Rice (2003)
  • Electric Version by The New Pornographers (2003)
      though I really enjoyed all four of their recordings in the decade

  • The Clarence Greenwood Recordings by Citizen Cope (2004)
  • Illinois by Sufjan Stevens (2005)
  • Plans by Death Cab for Cutie (2005)

  • Fox Confessor Brings the Flood by Neko Case (2006)
  • St. Elsewhere by Gnarls Barkley (2006)
  • Ga Ga Ga Ga Ga by Spoon (2007)
  • Santogold by Santogold (2008)
  • Asking for Flowers by Kathleen Edwards (2008)

I probably could have included the self-titled Fleet Foxes (2008) on the list and definitely would have if I could have substituted my two favorite tracks from their Sun Giant EP released earlier that year for my least favorite tracks on the full recording.

I noticed I don't have any entries for 2009. I'm not sure if that reflects the quality of the music for the year (or more probably) my tendency like so many others to get and listen to individual tracks rather than becoming immersed in full recordings. That said, I did particularly enjoy Sometimes I Wish We Were an Eagle by Bill Callahan, Give Up the Ghost by Brandi Carlile, Manners by Passion Pit and Wolfgang Amadeus Phoenix by Phoenix.

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'The Myth of the Rational Market' by Justin Fox

[Cross posting latest book summary I added to LinkedIn.]

I found The Myth of the Rational Market (http://www.amzn.com/0060598999) to be a very informative survey on the evolution of Finance - and its touch points with Economics - throughout the 20th century and into our own.  Justin Fox is a journalist by profession and he strikes a good balance between not trivializing a complex subject while not making it too dense for a reader outside the disciplines covered.

The narrative is roughly in chronological order and the author focuses each chapter on an important contributor or two in this evolution.  However, the linking theme and narrative arc to the story is the gradual rise to pre-eminence of the rational/efficient theory of markets, the impact of this theory on the actual conduct of business in securities markets (including the conceptualization and utilization of new financial instruments like index funds and derivatives) and the eventual backlash of concerns about the limitations of the theory in practice as well as flaws in its intellectual underpinnings, particularly from contributors in the field of behavioral economics.

The book was effectively completed before the most recent financial crisis, though the author does conclude with an epilogue which addresses the crisis in the context of his themes and how these events clearly underscored the concerns and limitations with the rationality of markets and its participants.  However, he does not offer any prescriptive guidance as to where to go next.

There are a *lot* of players to this story and I found the 'Cast of Characters' summary very helpful over the course of my reading.  Also, Justin Fox was a guest on EconTalk shortly after the book was published (http://www.econtalk.org/archives/2009/07/justin_fox_on_t.html) and the discussion is helpful in both complementing and amplifying his thinking.  In fact, this conversation was the reason I bought the book in the first place.

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