Books The High Better Rich

"The High-Beta Rich" by Robert Frank explores the phenomenon of the "high-beta rich," a segment of the wealthy whose fortunes are characterized by significant volatility, often linked to financial markets, asset bubbles, and deals. The book argues that this group, prone to extreme swings in wealth, has become a destabilizing force in the economy, and their spending patterns can contribute to economic booms, bubbles, and subsequent busts. Frank delves into the sources of their wealth and the implications of their financial behavior on the broader economy