100 books like ABCs of Economics

I still vividly remember the first time I read this book in my teenage years in Tehran. Its powerful rhythm, its vivid political imagery, and its sweeping vision shook me. It caught me right then and has never quite let go.

Not only has it remained relevant throughout the years, but it still reads like the literary masterpiece that it is. 

Ultimately, I am recommending this book to you because Milton Friedman is one of the founders of Capitalism and winner of the Nobel. I enjoyed reading this book in college for the significant impact it holds. Truly, in a free market society based on survival of the fittest, one is forced to outlive the other. However, a great author will combine the two polar dynamic ideologies into one. While Milton Friedman’s work has historical implications on modern society, it is out of date. 

Moneyless Society, conceptually, is a curious read. Tracking how money affects us all and its presence as a centralized decay against society is another curious concept. I enjoyed reading Moneyless Society for the context of why change needs to be made. Surrounded by the author’s intent in publication is a group of individuals committed to making change. I may quote in my own volumes that money is necessary as a tool but that does not mean you can’t argue otherwise. Moneyless Society is a great feel-good economic story through history into potential change.

Since the days of Ronald Regan, trickle-down economic theory has been a pipe dream of the uneducated and I don’t even have a degree. Mark Mattern does a great job inverting the theory of trickle-down in explaining that indeed wealth piles from the bottom up not drip down from the top. I recommend reading this book before you read mine for the simple fact that instead of inverted trickle-down theory, I describe how water moves like a stream through an ecosystem. If it is not properly pitched from the mountaintop to the valley, with proper displacement of creatures below, and flow rate through the foothills, we are inevitably left dependent on drinking from a wasteland.

Those who want to understand the origins of business cycles and how to prevent them should read this book.

One of the most pressing, if not the most pressing, problem of our societies today is our monetary and financial system. This book explains why and offers a solution.

I believe that it is the most complete Austrian treatise on money and banking. It is interdisciplinary looking at law and history as well. I have used it as a textbook for years in class and I have translated it into German. Every serious student of money and banking has to have mastered this book.

This book treats a rich variety of weighty topics, global in scope. It lays bare the real insights that bubble up when economic history is subpoenaed to the bar of economic thinking. The famous British Disraeli said he only read biographies because biographies were life without theory. It helps to take a break from scholars whose thoughts are pinned down by the most recent theories. To study economics without theory, it is necessary to study economic history. Economic forecasters too often have a bias toward predicting a continuation of existing trends with small adjustments. Rostov’s long sweep of history shows that these forecasts may be overridden by long-term trends. This book contains a lot of meat—a great abundance of instructive explanations, intelligent comments, and practical conclusions. 

I enjoyed reading this book as it provided a deep, and engaging overview of economic theory.

The authors manage to strike a balance between providing a high-level theoretical discussion and making the content accessible to a wider audience. One thing that stood out to me was the authors' emphasis on the diversity of the various schools of economic thought.

In their work, they avoid the common pitfall of suggesting that the history of Economics has “ended”, and instead observe the evolution of economic theory over time. Also, I appreciate the fact that they do not believe that theories in fashion today necessarily provide an adequate explanation for the functioning of the economy.

Overall, I recommend this book to anyone interested in gaining insight into Economics’ controversial development.

If you ask me, there is very little I agree with in this book, and in particular the idea that economic growth is irrelevant once you focus on the things that actually matter in life (access to water, education, housing, health, and so on) while respecting planetary boundaries.

Let alone the fact that a stylized chart of a doughnut is hardly going to change millennial economic and power dynamics. Nonetheless, Raworth wrote an extremely readable and erudite book, and crucially fostering reflection on the one issue that to my mind is central: how to turn economic growth into a force for good, addressing social needs without destroying nature.

A must read, if not to learn how to think like a 21st-century economist, at least to be aware of the challenges ahead. 

I became well acquainted with Economics after my undergraduate studies, and found this book to be an excellent resource.

It begins with the ancient Greeks and culminates in the modern era. It elaborates upon crucial issues such as money, markets, prices, and production. What sets it apart from others is its focus on the evolution of economic ideas, rather than the economists themselves.

Backhouse's writing style is clear and accessible, and makes even complex concepts understandable. One thing I appreciate is that Backhouse demonstrates that no economic theory emerges "out of nowhere" as is often implied, rather it builds on its predecessors.

This book offers insights that have stayed with me long after reading, and I still refer to it for its depth of knowledge.

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.