My favorite books to become a critical economist

Why am I passionate about this?

I am passionate about the dissemination of economic ideas both inside and outside university spaces. In addition to classroom lectures at my university, I give a lot of public lectures on economics. Through these talks, I introduce the audience to the tradition of doing economics using a critical perspective. I have an MA and MPhil in Economics from the University of Hyderabad and a PhD in Economics from the University of Sydney.


I wrote...

Macroeconomics: An Introduction

By Alex M. Thomas,

Book cover of Macroeconomics: An Introduction

What is my book about?

Macroeconomics provides a critical introduction to macroeconomic theory and policy. Most macroeconomics books do not contain discussions on the history or philosophy of macroeconomics; I include such discussions in my book. 

It introduces readers to two competing paradigms in macroeconomics: marginalism and political economy. While mainstream books on macroeconomics continue to be written from a marginalist standpoint, my book offers an accessible introduction to an alternative paradigm drawing on the work of Adam Smith, David Ricardo, Karl Marx, John Maynard Keynes, and Piero Sraffa. The book ends with a substantial discussion on macroeconomic policy, particularly in relation to unemployment and inflation.

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The books I picked & why

Book cover of Classical Political Economy and Rise to Dominance of Supply and Demand Theories

Alex M. Thomas Why did I love this book?

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.

Book cover of The Science of Wealth: Adam Smith and the Framing of Political Economy

Alex M. Thomas Why did I love this book?

I first read Aspromourgos’s book on Adam Smith in 2010 or thereabouts.

I was immediately hooked because of the attention to detail visible in his interpretation of Smith’s economics. And the rigour and depth of his writing. 

The book places Smith’s economics within a rich historical context by paying close attention to his economic vocabulary.

Aspromourgos diligently provides us with a persuasive account of Smith’s economic theory in the tradition of classical political economy and rightly argues that it cannot be viewed as an inferior version of marginalist economics. 

In this book, you will find not just Smith’s economics and its history but also insights from philosophy and politics, both essential, I think, to become a critical economist.

By Tony Aspromourgos,

Why should I read it?

1 author picked The Science of Wealth as one of their favorite books, and they share why you should read it.

What is this book about?

This study clarifies the character of 'political economy' as a distinct and separable intellectual discipline in the generic sense, in the texts of Adam Smith. It focuses upon the scope and fundamental conceptualizations of the new science. Smith's conceptualization of economic analysis is shown to constitute a unified intellectual piece for understanding economic society and its dynamics. Smith's fundamental economic language is exhaustively examined, in all his texts, with a view to clarifying the meaning of the basic concepts of his system. As well, the 'prehistories' of those concepts, in literature prior to Smith, back to the earliest times, are…


Book cover of Teaching to Transgress: Education as the Practice of Freedom

Alex M. Thomas Why did I love this book?

I was introduced to bell hooks only later in my teaching career—after I had taught for 10 years.

And I read hooks immediately after reading Paulo Freire’s The Pedagogy of the Oppressed

This is a book on pedagogy, especially within a classroom with students from diverse social backgrounds. This is the book on critical pedagogy, I would say.

The training of economists will significantly benefit from engaging with the work of hooks.

By Bell Hooks,

Why should I read it?

3 authors picked Teaching to Transgress as one of their favorite books, and they share why you should read it.

What is this book about?

"After reading Teaching to Transgress I am once again struck by bell hooks's never-ending, unquiet intellectual energy, an energy that makes her radical and loving." -- Paulo Freire

In Teaching to Transgress,bell hooks--writer, teacher, and insurgent black intellectual--writes about a new kind of education, education as the practice of freedom. Teaching students to "transgress" against racial, sexual, and class boundaries in order to achieve the gift of freedom is, for hooks, the teacher's most important goal.

bell hooks speaks to the heart of education today: how can we rethink teaching practices in the age of multiculturalism? What do we do…


Book cover of Against Method: Outline of an Anarchist Theory of Knowledge

Alex M. Thomas Why did I love this book?

Feyerabend argues against monism in science.

Drawing on the history of science, he demonstrates that science has progressed from pluralism. In other words, there is no the scientific method. 

Currently, mainstream economics education does not include history or philosophy in its curriculum. And economists are enthusiastically adopting a monist approach to knowledge production.

Feyerabend’s book tells us why such a naïve and narrow approach to knowledge dissemination (and production) is problematic. I feel extremely lucky to have been exposed to his work along with other philosophers of science during my master’s.

By Paul Feyerabend,

Why should I read it?

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

What is this book about?

Contemporary philosophy of science has paid close attention to the understanding of scientific practice, in contrast to the previous focus on scientific method. Paul Feyerabend's acclaimed work, which sparked controversy and continues to fuel fierce debate, shows the deficiencies of many widespread ideas about the nature of knowledge. He argues that the only feasible explanation of any scientific success is a historical account, and that anarchism must now replace rationalism in the theory of knowledge. This updated edition of this classic text contains a new foreword by Ian Hacking, a leading contemporary philosopher of science, who reflects on Feyerabend's life…


Book cover of The Role of Measurement in Economics

Alex M. Thomas Why did I love this book?

Today, economics is synonymous with measurement.

This book on measurement in economics was published in 1951. Stone discusses the link between theory and empirics in this book.

I like this slim book of Stone’s because it shows the strengths and weakness of empirical exercises in economics. It also raises foundational questions regarding empirical constructs.

Books like this allow us to ask foundational questions regarding the links between theory and empirics in economics as well as theory and applications in statistics.

By Richard Stone,

Why should I read it?

1 author picked The Role of Measurement in Economics as one of their favorite books, and they share why you should read it.

What is this book about?

First published in 1951, and originally delivered as the Newmarch Lectures for 1948-9, this book examines the role of measurement in obtaining and applying economic knowledge. Esteemed economist Richard Stone, who went on to win the Nobel Prize in Economics, divides his topic into four sections: questions of fact and empirical constructs; the truth or falsity of a hypothesis; the estimation of parameters; and questions of prediction. This book will be of value to anyone with an interest in economics and the development of the discipline.


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I Am Taurus

By Stephen Palmer,

Book cover of I Am Taurus

Stephen Palmer

New book alert!

Why am I passionate about this?

Author Philosopher Scholar Liberal Reader Musician

Stephen's 3 favorite reads in 2023

What is my book about?

The constellation we know as Taurus goes all the way back to cave paintings of aurochs at Lascaux. This book traces the story of the bull in the sky, a journey through the history of what has become known as the sacred bull.

Each of the sections is written from the perspective of the mythical Taurus, from the beginning at Lascaux to Mesopotamia, Ancient Egypt, and elsewhere. This is not just a history of the bull but also a view of ourselves through the eyes of the bull, illustrating our pre-literate use of myth, how the advent of writing and the urban revolution changed our view of ourselves, and how even bullfighting in Spain is a variation on the ancient sacrifice of the sacred bull.

I Am Taurus

By Stephen Palmer,

What is this book about?

The constellation we know as Taurus goes all the way back to cave paintings of aurochs at Lascaux. In I Am Taurus, author Stephen Palmer traces the story of the bull in the sky, starting from that point 19,000 years ago - a journey through the history of what has become known as the sacred bull. Each of the eleven sections is written from the perspective of the mythical Taurus, from the beginning at Lascaux to Mesopotamia, Ancient Egypt, Greece, Spain and elsewhere. This is not just a history of the bull but also an attempt to see ourselves through…


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