The Most Important Lessons in Economics and Finance

The Most Important Lessons in Economics and Finance: A Comprehensive Collection of Time-Tested Principles of Wealth Management represents the fruits of an audacious undertaking: the pursuit of the most effective economic and financial principles from the dawn of record keeping to the present day. Using everyday terms and readily grasped concepts, Dr. Anthony M. Criniti IV, a former financial consultant and current university-level finance professor, sets out to expand off the new paradigm of the economic and financial concepts introduced in his previous book, The Necessity of Finance; explore the most important lessons in economics and finance; provide a platform for economic and financial entities to be able to better manage their wealth; and create a foundation for future research studies on these subjects. 

Dr. Criniti breaks down complex terminology and scholastic discoveries in economics and finance into layman’s terms, allowing readers of all levels of economic and financial acumen to put his powerful wealth management principles into practice. Starting with an introductory overview, moving forward to present the basic terminology necessary to understand the structure of this work, presenting in the process an elaboration on its scientific aspects, The Most Important Lessons in Economics and Finance will equip a variety of practitioners and students of these two sciences with vital information and a clear approach for continued study. This book is organized into a variety of categories of wealth management principles including: business, charity, debt, diversification, economics, ethics, financial psychology, health, human resources, international finance, investing, marketing, money, personal finance, planning, and saving.

Dr. Criniti’s lessons evolved from his many years of various experiences in the financial field. Aiming for objectivity, he links his practical knowledge to the works of leading historical and contemporary economic and financial scholars, producing a work that stands as one of the most accessible and comprehensive collections of wealth management principles in publication. 

Mastering wealth management skills takes time and patience. With The Most Important Lessons in Economics and Finance, Dr. Criniti provides a foundation for this most essential task.

Excerpt. © Reprinted by permission. All rights reserved. 

From the Preface of The Most Important Lessons in Economics and Finance  (2014) by Dr. Anthony M. Criniti IV:

This book was written as a follow-up to my former book, The Necessity of Finance, where a foundation was set to explain the characteristics and significance of economics and finance. We now continue our learning journey by exploring the most important lessons of these two sciences. These lessons, expressed in the form of principles, are my bold attempt to summarize what has been learned since the beginning of record keeping on the wealth management of economic and financial entities.

The principles are a result of an accumulation of over fifteen years of notes on these subjects that I have gathered from my experience in the financial field, ranging from being a financial consultant to my current role as a finance professor teaching at the undergraduate and graduate levels at various universities. They are also derived from a variety of sources, including the works of many of the greatest contributors to the two sciences. To my knowledge, they represent the most comprehensive collection of qualitative principles in the field of economics and finance.

I give these lessons to you from the bottom of my heart, with the best intentions, to reveal the secrets of two of the most important sciences. But reading these principles alone is not enough to master them. You must live them. You must think of creative ways to learn these lessons by incorporating them into your daily life. Mastery may take decades, but choosing not to try to master your own wealth can result in harsh consequences, as noted in my previous work.

This book starts with an introductory overview of its contents. Next, there is an overview of various related terminology to help you understand the major concepts used. For example, there is a distinction made between laws, lessons, rules, and principles. Third, there is a chapter on the literature review of the related content. Fourth, there is a chapter that discusses how the categories were created for the actual principles. This book also elaborates on the methodology used and various opportunities for future research. Sixth, a chapter is also dedicated to stating any limitations to the material presented. Next, the weight of this book is in Part 2, where the actual principles are explored. Finally, a conclusion is provided in Part 3 to summarize what was learned in the previous sections of the book.

This book is targeted to a wide audience, particularly beginners to advanced-level economics and finance students. It is recommended that all students read The Necessity of Finance before proceeding to this book as it will create a better introduction to the various concepts used. However, it is not required. Beginner students can benefit by exploring the principles individually and building familiarity with various concepts.

Advanced students and practitioners are a particular target for this book. Some of the feedback that I have received from them on my last book is that they wanted a book that can help them improve their wealth. This book is my attempt to capture the most important lessons from the sciences of economics and finance. Learning these lessons better prepares you to manage your wealth to maximize it. Hopefully, these advanced students will be able to capture this knowledge through intense study of these principles.

Economics and finance are very promising sciences that can be helpful to all who spend time studying and practicing it. However, I want to be clear that they are not easy for the average student. This book is designed to be student-friendly, and can be used as a required or supplemental text for colleges or universities. Finally, this book may serve as a direct learning tool to help you create your own path to economic and financial independence.

The information in this book covers a wide variety of topics. Some material may interest you, and some may not. The best way to approach it is with patience. You are encouraged to take notes and review sections that are of interest to you. Later, if you decide to take an economics or finance class, you can always refer back to it for maximum results.

I highly recommend reading this book slowly. If you move too fast, then you may not have reflected deeply enough on the underlying lessons and/or you may become overwhelmed with information. In particular, it is recommended that you read no more than five principles a day. Ideally, one principle a day is the best practice. Read it early in the morning when you wake up. Then spend the rest of the day reflecting on the essence of it and how it will help you better understand how to manage your wealth.

Finally, I have attempted to write this book as objectively as possible, but from time to time my opinions may appear. However, this should have a very limited effect on the main goals of the book, which are to expand off the new paradigm of the economic and financial concepts introduced in The Necessity of Finance; explore the most important lessons in economics and finance; provide a platform for economic and financial entities to be able to better manage their wealth; and create a foundation for future research studies on these subjects. Enjoy!