The most recommended books about economists

This is a readable tale of the rise of economic forecasters in the USA during the boom years of the 1920s, and their demise after failing to forecast the `Great Crash of 1929’ and ensuing Great Depression. Roger Babson did forewarn of a crash, but also failed after wrongly repeatedly forecasting an imminent recovery in the early 1930s. It holds many relevant lessons for our turbulent times, emphasizing that the future is always highly uncertain.

Under the headings of hope, fear, and confidence, Nasar takes us through the lives, the ideas, the failings, and arguments of several dozen economists, in a lively journalistic fashion. From the last chaotic days of Joseph Schumpeter’s failing post-war Vienna to Joan Robinson’s 1950s propaganda trip to Stalin’s Moscow, she gives us an illuminating view of history and what economists did to try to improve it.

Biographies of economists can be dull and technical, but not if their subject is John Maynard Keynes. The flamboyant British economist was a member of the Bloomsbury Group of Virginia Woolf and E.M. Forster, married the famous Russian ballerina Lydia Lopokova, and had a group of followers known as the Cambridge circus. The great skill of Skidelsky is his ability to integrate the many facets of Keynes life, from the exciting intellectual milieu of Cambridge and the cultural milieu in London to the economic problems of war, peace, and the Great Depression. This book demonstrates in vivid terms that economics is done by economists with an underlying vision. In Schumpeter’s words that of Keynes was that of: “the arteriosclerotic economy whose opportunities for rejuvenating venture were in permanent decline.”

Osaka became an industrial giant during the Meiji period, remaining one of the world’s fastest-growing cities throughout the later decades of the nineteenth century and early decades of the twentieth.  The city outgrew Tokyo in both population and industrial production for a brief period during the 1930s.  This was a time when social displacement, horrendous public health and housing failings, and labor unrest threatened communal wellbeing.  The city responded with some of the most innovative social policies of the era, especially under the leadership of Mayor Seki Hajime.  As Hanes uncovers, Seki used his training as a social economist to promote increased industrial production that simultaneously became people-centered. The result was a modernized Osaka that retained a vibrant social inventiveness in the years leading up to World War II.

Markings consists of profound thoughts, quotes, and poems of the Swedish economist and diplomat who served as the second Secretary-General of the United Nations. Hammarskjöld was a successful man yet his reflections in the book depict that if success is not motivated by a higher purpose it can’t provide genuine fulfillment. I enjoy the fact that the passages in the book are contemplative and can be read during quiet hours to ponder over.

Rick Kuhn’s book brings to our attention the ideas of the most important Marxist economist of the 20th century, previously forgotten and ignored. A Polish Jew and Communist, Grossman revives Marx’s economic theory in a clear fashion after the misunderstandings and distortions of Marx’s epigones. Grossman’s ideas, written in the 1920s and 1930s, are still relevant 100 years later.

I first purchased and read this book as a senior undergraduate student not knowing anything about the author.

Little did I know that this book would later play an important role in not only understanding the limitations of mainstream economics but also in providing me with an alternative approach to make sense of our economic surroundings. 

Bharadwaj’s book is truly a classic and one that I always recommend to my students. 

Her book continues to inspire and educate me.

I have picked this book because it tells a story that should interest anyone even if they have no interest in technical economics. Albert Hirschman was born into a Jewish family in Berlin and in his teens became politically committed as a socialist, at a time when the rise of the Nazi party made this a dangerous activity. The book tells the story of his exploits in Germany and occupied Europe before he ended up in the United States, where he made his career as a specialist on economic development, spending a significant part of his life advising the government of Colombia.

Hopefully, the book gives an account of Hirschman’s economic ideas in a way that will make sense even to readers who don’t know any economics, but even without that, it is a sufficiently gripping story of the life of an exile from inter-war Germany who ended up as… show more.

What was impressive about this book and what made me recommend it (on the back cover) was how it succeeded in covering the full range of Smith’s work while demonstrating that it possesses a common unifying thread.

The author has already written a learned treatment of Smith (based on his doctoral dissertation); this volume, as befits a designedly introductory book, is written without jargon, in careful, clear prose. While students will gain the most benefit (the purpose of the series of which it is a part), it is, as well as informative, accessible to anyone with an initial interest in Smith, which it will succeed in broadening and deepening. 

I like mysteries, and I have read all of the greats. This is not Sherlock Holmes quality, but it is good and another fun read. It presents ideas and their practical application in a fun and familiar format.

I love this book for the story. The hero is an economics professor, and it has a sense of humor. Co-written by two award-winning economists who invented a nom-de-plume and gave it a very funny backstory about being a cocoa bean investor, that sort of fun comes through in the book as well. Plus, it is set where so many great adventures are: in the Caribbean. Murder, the tropics, and economics—what’s not to love?