100 books like A Theory of Economic History

I knew Michelle when she was teaching at Stanford University before she wrote this book, but I didn’t know then how much of the work she’d done. Her book is so profound that when I first read it, I was in Vegas on vacation, and I couldn’t get out of the room because I was so deep into reading her book. I couldn’t get to the great food or the penny slots because she was putting together all the pieces I had read about or heard discussed in different places, and she built a picture of the system of oppression Black people live under in the United States.

She affirmed what I had suspected: that incarceration continues the enslavement of Black people. I called a colleague and said, this book will have more impact than I could making speeches to a thousand people at a time, a hundred times a… show more.

This succinct and persuasive study of the profound failure to integrate the freed slave population in the U.S. after 1865 is a rare example of a scholarly work’s direct influence on governments and the process of reform.  The author’s premise and analysis is that popular and local official antipathy to emancipation led to enforced, violent segregation (Jim Crow) that was constitutionally affirmed in the 1896 Plessy case.  The book’s three editions follow the history of civil rights reform from the 1950s to the 1970s and the Supreme Court’s gradual dismantling of the Plessy rule. While Jim Crow law has been overturned, versions of real-life Jim Crow conditions remain.

This is a positive book that shows how education can help Blacks and other minorities get an education that will help them stay out of mass incarceration. It is good to have a positive program as we attempt to deal with American racism.

Marc Bloch was one of the greatest historians of the 20th century. He was also hero of the French Resistance, tortured and executed by the notorious Nazi Klaus Barbie. Feudal Society (2 volumes) is perhaps his best book. 

It is often said that the past is a foreign country, and it is true that the world of the Middle Ages is alien to us in many respects. What Bloch does is to provide a systematic examination of all aspects of that world, that is he examines it it from a legal, a sociological, an anthropological, an economic, and a political perspective. 

In so doing, he paints a remarkable portrait of a coherent, self-contained society. The economy was basic, laws and politics were personalized, but it was a social and political order that made sense in its own terms. More recent historians have criticized specific aspects of Bloch's vision of feudalism… show more.

The great fact of economic history is that we all used to be poor, and now most of us are not. 200 years ago, almost 90 percent of the world’s population lived in extreme poverty, today around 9 percent does. This is the story of that remarkable transformation and what made it possible. Of course, there are many good books on this, and I have greatly enjoyed for example Joel Mokyr, Deirdre McCloskey, and David Landes, but this is a powerful, short book by a great historian, that manages to weave together economic, political, technological and intellectual factors into a very compelling narrative of progress and its preconditions over the past one thousand years.

The papers in this book follow on from an article in Vanity Fair, "Of the 1%, for the 1%, by the 1%". Mimicking Abraham Lincoln’s famous definition in his Gettysburg Address.

A central argument that runs throughout the book is that the growing inequality in the US is chosen, not by its peoples, but by its government. The implication is that the rising inequality and its causes are a threat to US democracy. The book sees a great divide opening between the mass of its citizens and a plutocratic class whose income, and relative position, continues to improve. The book documents how governments have pursued policies that only benefit the 1%.

This may seem an unusual choice – and its title is entirely misleading – but what Sanders describes is what the U.S. might look like if it translated Biblical values into policy and law.

Sanders’s real subject is justice – social, economic, racial, and environmental. He describes a compassionate society in which all have access to life, liberty, and the pursuit of happiness, and in which no one is condemned to suffer because of the accidents of birth.

Significantly, Sanders backs up all his suggestions with explanations of how they could be translated into reality. Read this even if you didn’t vote for him!

Ed Kleinbard was a treasured colleague, a brilliant commentator, and a giant in the field of tax policy. In his final year of life, perhaps fittingly, Kleinbard devoted himself to a book on the role of luck in economic outcomes, which opens with a quote from Stendhal. “Waiting for God to reveal himself, I believe that his prime minister, Chance, governs this sad world just as well.” The book argues that luck, and particularly existential luck (to whom and in what circumstances you are born), are paramount in determining economic outcomes. Within that context, Kleinbard makes a strong case for the role of public insurance in areas like health care, education, and childcare; he also emphasizes the importance of a progressive income tax system. 

This recommendation is more technical than my previous recommendations.

The authors reconstruct many measures of income and income inequality to show that the widening gap indicated by official statistics is an artifact of certain assumptions underlying these statistics.

First, and most importantly, regarding those who are dependent on the social safety net, "income" includes only cash benefits dispensed by the government, not the cash value of non-cash benefits; and, for those who are taxpayers, "income" is defined as before-tax income, not after-tax income.

Second, monetary values are incorrectly corrected by the CPI (the authors propose using the chained-linked CPI).

The book might be considered to present an agenda for further research on the specifics it addresses and similar concerns.

American author Mark Twain had described the last decades of the 19th century as the Gilded Age in the United States, a period when on the surface everything appeared to be glittering like gold concealing the filth and ugliness that lay beneath. British journalist and academic James Crabtree, now based in Singapore, believes that the last few decades in India closely resembles the Gilded Age of the US. His 357-page book is filled with dozens of anecdotes about some of India’s most wealthy individuals such as Mukesh Ambani, Gautam Adani, and Vijay Mallya. His meetings with them and his detailed descriptions of their lifestyles and demeanour make for racy reading. 

A disclaimer: Crabtree has described in flattering terms his meeting with this writer and referred to some of my articles and books.