Discounting

This book contains the most recent thoughts on global climate change policy and the much debated issue of choosing a discount rate. Most climate change policies and abatement programs will be a cost to the present generation and a benefit to future generations. This causes complications in the decision-making process. For short-term projects (within 40 years), the costs of the project are compared with the discounted long-term benefits. Both costs and benefits accrue to the present generation, so the decision can be based on economic efficiency: are the discounted benefits of this project greater than the costs? Climate change decisions are different in that the benefits accrue to future generations. This brings up the issue of intergenerational equity and the discount rate that will give us the amount of equity that we deem appropriate.

This book is fairly easy to read and understand. It is not too technical. It includes articles that are ethical in nature, and those that are mathematical and quantitative. This is an excellent introduction for anyone interested in discount rates, project evaluation, cost-benefit analysis, and equity among generations.

As a former owner of a retail/service business and continuing entrepreneur, I read Bob Phibbs' book with great interest. There is simply not enough I can say about this book. It is an easy read that is not bogged down with anecdote after anecdote trying to make the same point over and over again as so many self-help books are. Phibbs make his points with short, concise, relevant vignettes that more often than not pack an A-ha! punch. Any independent business person with a lick of sense who hopes to compete with the big box retail vampires will have Phibbs' book - not on their bookshelves, but in hand. Personally, I've always believed the little guy could compete, but how? Phibbs tells you exactly how. Interestingly enough, I happen to live in a community where Phibbs cites success stories and was surprised that I am a customer of one of them. I remember when Starbucks moved in a few doors down from Polly's with the sole intention of putting Polly's out of business (there's another Starbucks just a few blocks away). I didn't think Polly's would last a month, but Polly's began to change and began a campaign to beat the giant. Now, at least two years later they're still here... and thriving... and better than ever with Phibbs' expert guidance. You Can Compete is filled with his expertise in an organized, personable package that would almost make you feel as if Phibbs was your own personal consultant. I would recommend this book to anyone who is in the retail business or thinking about going into it - don't wait for the giants to come barging into your backyard. You could not ask for a better guide for success than You Can Compete.

I am a factoring officer for a real estate investment company in Knoxville, TN. This guide to factoring has helped me out immensely in just getting started in a profitable, and wide open industry. It starts with the most basic facts, like just what factoring simply is. It then covers some of the most difficult and complex aspects of the industry as well. I am just out of college and this has helped me a lot in my new position. The book can be a little wordy at some times, but it has far better descriptions that the finance textbooks that one would find in college.