3 books on the Philosophy of Money
Philosophy has long explored fundamental questions about the human condition and our quest for meaning. Unsurprisingly, these enquiries have occasionally veered into the realm of personal finance.
Notably, ancient Greek philosophers such as Aristotle contemplated the ethics of wealth accumulation, while existentialist thinkers like Jean-Paul Sartre examined the impact of money on personal freedom and authenticity.
When it comes to financial planning, numbers and strategies are only part of the equation. To help make better financial decisions, it’s worth contemplating our attitudes and philosophy towards money. In this blog, I provide a quick synopsis of 3 of my favourite books on this theme:
Obliquity by John Kay
In "Obliquity," John Kay challenges the prevailing belief that a direct, deterministic approach is the best way to achieve our goals and aspirations in life; covering areas from business to politics, sport to science. Instead, he encourages us to consider indirect strategies that encompass a broader perspective. Kay's philosophy echoes the wisdom of thinkers like Friedrich Nietzsche, who argued for embracing the detours and uncertainties of life. The concept of obliquity recognizes that achieving financial success is normally an iterative process, emerging through adaptive thinking and flexibility.
The Wisdom of Finance by Mihir Desai
Mihir Desai's "The Wisdom of Finance" connects finance with literature, history, and philosophy to explore the moral dimensions of monetary choices. The book examines the works of figures such as Adam Smith, who emphasized the interconnectedness between economics and ethics and how Jane Austen’s novels can be used as a guide for risk management. Desai's illuminating perspective on the world of finance reminds us that the use and management of money can be principled and life-affirming when viewed in the right way.
How Much Land Does a Man Need by Leo Tolstoy
Leo Tolstoy's parable, "How Much Land Does a Man Need," invites introspection on the nature of wealth and contentment. Tolstoy's storytelling aligns with philosophical reflections on greed and materialism set out by great thinkers like Epicurus. Through the protagonist’s journey, Tolstoy considers the consequences of unchecked ambition and the illusory pursuit of limitless wealth. This narrative prompts us to question our own desires and contemplate our true sources of fulfilment.
I hope you enjoyed these suggestions – please get in touch if you think that financial planning could help you to align your financial goals and life objectives.
