The best books that explain how capitalism works

Ronnie D. Lipschutz Author Of Political Economy, Capitalism, and Popular Culture
By Ronnie D. Lipschutz

Who am I?

I am a product of Sputnik and the threat of nuclear war. Both turned me into a long-time reader of science fiction and a perpetual student in trying to understand how the world works and why? If we have free will, why do so many things seem to be predetermined? If we are rational beings, why do so many of our choices seem so absurd? And if a new world is possible, why can’t we bring it into existence? I was a professor of politics for 30 years (and I was respected! See “Soylent Green.”) and most of my research and writing try to answer these questions.


I wrote...

Political Economy, Capitalism, and Popular Culture

By Ronnie D. Lipschutz,

Book cover of Political Economy, Capitalism, and Popular Culture

What is my book about?

Political Economy, Capitalism and Popular Culture (PECPC) dissects films and novels in an effort to explain the mysteries of capitalism and the world it makes. Most economic textbooks are deadly dull as well as very orthodox and make claims to predicting human behavior. PECPC blows apart many economics myths and stories and does so through examples drawn from the books and films with which we are very familiar and can be read without the help of an economist. I wrote PECPC as a textbook for students who were uncomfortable with math and statistics, but economists can read it, too.

Shepherd is reader supported.
We may earn an affiliate commission when you buy through links on our website. This is how we fund the project for readers and authors along with our membership program.

The books I picked & why

Book cover of The Great Transformation: The Political and Economic Origins of Our Time

Why this book?

Some critics argue that Polanyi got 19th-century English history wrong, but his argument that the capitalist economy is “disembedded” from the social system and is focused only on growth and more capital seems spot on. 

The attempt to turn everything into a commodity will mean the wrack and ruin of the earth and its inhabitants. Not quite Polanyi’s words but, 80 years later, ever closer to what is happening.

The Great Transformation: The Political and Economic Origins of Our Time

By Karl Polanyi,

Why should I read it?

11 authors picked The Great Transformation as one of their favorite books, and they share why you should read it.

What is this book about?

In this classic work of economic history and social theory, Karl Polanyi analyzes the economic and social changes brought about by the "great transformation" of the Industrial Revolution. His analysis explains not only the deficiencies of the self-regulating market, but the potentially dire social consequences of untempered market capitalism. New introductory material reveals the renewed importance of Polanyi's seminal analysis in an era of globalization and free trade.


1984

By George Orwell,

Book cover of 1984

Why this book?

This book was and is widely thought to be a warning against the tyranny of English “socialism,” others against the Soviet Union.

At least one person argues that it was a satire of American society. Perhaps 1984 was published too soon; every day, Orwell’s world appears to look more and more like the one in which we live.

1984

By George Orwell,

Why should I read it?

28 authors picked 1984 as one of their favorite books, and they share why you should read it.

What is this book about?

BIG BROTHER IS WATCHING YOU . . .

1984 is the year in which it happens. The world is divided into three superstates. In Oceania, the Party's power is absolute. Every action, word, gesture and thought is monitored under the watchful eye of Big Brother and the Thought Police. In the Ministry of Truth, the Party's department for propaganda, Winston Smith's job is to edit the past. Over time, the impulse to escape the machine and live independently takes hold of him and he embarks on a secret and forbidden love affair. As he writes the words 'DOWN WITH BIG…


Ecotopia

By Ernest Callenbach,

Book cover of Ecotopia

Why this book?

Callenbach’s tale of ecological secession by Washington, Oregon, and Northern California remains an inspiration to those who believe another world is possible.

Callenbach imagined cheap solar electricity and newspapers being delivered through what was, essentially, street corner fax machines. Right on the first, wrong on the second. Unfortunately, Callenbach’s novel is sexist and even a little racist in places, and its utopian vision is unlikely to ever materialize. 

Ecotopia

By Ernest Callenbach,

Why should I read it?

2 authors picked Ecotopia as one of their favorite books, and they share why you should read it.

What is this book about?

Twenty years have passed since Northern California, Oregon, and Washington seceded from the United States to create a new nation, Ecotopia. Rumors abound of barbaric war games, tree worship, revolutionary politics, sexual extravagance. Now, this mysterious country admits its first American visitor: investigative reporter Will Weston, whose dispatches alternate between shock and admiration. But Ecotopia gradually unravels everything Weston knows to be true about government and human nature itself, forcing him to choose between two competing views of civilization.Since it was first published in 1975, Ecotopia has inspired readers throughout the world with its vision of an ecologically and socially…


Book cover of Reaching for Heaven on Earth: The Theological Meaning of Economics

Why this book?

Did it ever occur to you that economics might be theological, even a form of religious idolatry?

This is not, by the way, about the Worship of Mammon; it is about capitalism as a system of beliefs and practices.

Nelson carefully maps out the genealogy of modern economics, showing that its underlying foundation can be traced back to competing Greek philosophies as filtered through Catholicism and Protestantism. We have never been secular!

Reaching for Heaven on Earth: The Theological Meaning of Economics

By Robert H. Nelson,

Why should I read it?

1 author picked Reaching for Heaven on Earth as one of their favorite books, and they share why you should read it.

What is this book about?

this is the most profound book on the boundary of theology and economics in the past couple of decades. It has a depth of perspective, a scope of scholarship and a discernment that is rare in this field.-CHRISTIAN CENTURY


Snow Crash

By Neal Stephenson,

Book cover of Snow Crash

Why this book?

Snow Crash was written as the Cold War came to an end and imagines how globalization and cyberspace might develop across the United States.

There is not much left of the U.S. besides the “Feds,” who can barely keep their act together. There are only four things the United States can do better than anyone else: music, movies, microcode, and high-speed pizza delivery. 

The country is littered with FOQNEs, Franchise-Organized Quasi-National Entities, and Burbclaves, which are thematic near-sovereign, gated communities. And, by the way, this is where Zuckerberg got the term “Metaverse.” Stephenson should sue.

Snow Crash

By Neal Stephenson,

Why should I read it?

10 authors picked Snow Crash as one of their favorite books, and they share why you should read it.

What is this book about?

The “brilliantly realized” (The New York Times Book Review) breakthrough novel from visionary author Neal Stephenson, a modern classic that predicted the metaverse and inspired generations of Silicon Valley innovators

Hiro lives in a Los Angeles where franchises line the freeway as far as the eye can see. The only relief from the sea of logos is within the autonomous city-states, where law-abiding citizens don’t dare leave their mansions.

Hiro delivers pizza to the mansions for a living, defending his pies from marauders when necessary with a matched set of samurai swords. His home is a shared 20 X 30…


5 book lists we think you will like!

Interested in totalitarianism, utopian, and cyberpunk?

8,000+ authors have recommended their favorite books and what they love about them. Browse their picks for the best books about totalitarianism, utopian, and cyberpunk.

Totalitarianism Explore 43 books about totalitarianism
Utopian Explore 47 books about utopian
Cyberpunk Explore 76 books about cyberpunk

And, 3 books we think you will enjoy!

We think you will like Reinventing the Bazaar, The Captured Economy, and The Value of Everything if you like this list.