Here are 100 books that Economic Sophisms and "What Is Seen and What Is Not Seen" fans have personally recommended if you like
Economic Sophisms and "What Is Seen and What Is Not Seen".
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I have had the privilege to teach the history of political theory from Plato to today for decades and to discuss texts such as the five I mentioned with very gifted students. No matter how often I return to such works, I always find something new in them and it is a pleasure to see how students learn to love reading for themselves what can be daunting works, once they overcome the fear of opening the great works and the initial challenge of seventeenth- and eighteenth-century prose.
Even though Adam Smith is often said to be the father of all that is good or bad about capitalism very few people have read his famous Wealth of Nations. Why? Well, 1) they think they already know what’s in it: no government intervention in the economy, thank you. 2) It is two volumes. 3) It must be very dreary because it is about economics, and 4) they are not good at economics or math.
But read it for yourself, and you will find that it is readable, nuanced, and you can skip the bits that you can’t make out, enjoy the examples, and decide for yourself what he actually argued and whether you agree with it or not.
An Inquiry into the Nature and Causes of the Wealth of Nations, generally referred to by its shortened title The Wealth of Nations, is the magnum opus of the Scottish economist and moral philosopher Adam Smith. First published in 1776, the book offers one of the world's first collected descriptions of what builds nations' wealth, and is today a fundamental work in classical economics. By reflecting upon the economics at the beginning of the Industrial Revolution, the book touches upon such broad topics as the division of labour, productivity, and free markets.
Jeffrey Miron has taught a popular course on libertarian principles at Harvard for 17 years, explaining how to apply libertarianism to economic and social affairs. Miron also serves as the Vice President for Research at the libertarian Cato Institute. Miron has a consistent track record of defending libertarian policies, such as the legalization of all drugs, vastly expanded legal immigration (perhaps to the point of open borders), drastically reduced government expenditure, and substantial deregulation.
Capitalism and Freedom is the greatest exposition of the consequential case for libertarianism. In other words, Milton Friedman’s case for libertarian policies rests not on moral assumptions or “natural” rights but on showing that capitalism is important because it has positive consequences – it enables human prosperity and flourishment.
Perhaps as importantly, Capitalism and Freedom shows that economic freedom is a necessary condition not just for economic prosperity but for personal and political freedom. Thus, free markets are not only compatible with democracy (contra what many people claim), but a necessary condition for protecting democracy and personal freedoms.
This book’s outlook is probably the closest to the one articulated in my book. It is also the most recent one on the list, making it an easy read.
One of TIME magazine's All-TIME 100 Best Nonfiction Books One of Times Literary Supplement's Hundred Most Influential Books Since the War One of National Review's 100 Best Nonfiction Books of the Century One of Intercollegiate Studies Institute's 50 Best Books of the 20th Century How can we benefit from the promise of government while avoiding the threat it poses to individual freedom? In this classic book, Milton Friedman provides the definitive statement of an immensely influential economic philosophy--one in which competitive capitalism serves as both a device for achieving economic freedom and a necessary condition for political freedom.
I’ve always been interested in human freedom, and both intrigued and cautious about the path offered by the libertarians. In my book, I finally worked out for my own benefit what is alive and what is dead in their ideals – and the various flavors in which those ideals are available. They have important insights, but too much of what they are selling is snake oil. Until now there hasn’t been any critical introduction to libertarianism for the general reader. This book aims to supply that.
The classic exposition of the idea that central governmental economic planning will inevitably be wasteful and tyrannical. Hayek today is caricatured by both right and left, but he is not the minimal state absolutist that both sides often take him to be. Hayek thinks that the way to attack poverty is not redistribution – there isn’t yet enough wealth in existence to give everyone a decent life – but the opportunities created by free markets. Another impetus for my own work was reading this book and discovering that I agreed with him much more than I had expected to.
An unimpeachable classic work in political philosophy, intellectual and cultural history, and economics, "The Road to Serfdom" has inspired and infuriated politicians, scholars, and general readers for half a century. Originally published in 1944 - when Eleanor Roosevelt supported the efforts of Stalin, and Albert Einstein subscribed lock, stock, and barrel to the socialist program - "The Road to Serfdom" was seen as heretical for its passionate warning against the dangers of state control over the means of production. For F. A. Hayek, the collectivist idea of empowering government with increasing economic control would lead not to a utopia but…
Jeffrey Miron has taught a popular course on libertarian principles at Harvard for 17 years, explaining how to apply libertarianism to economic and social affairs. Miron also serves as the Vice President for Research at the libertarian Cato Institute. Miron has a consistent track record of defending libertarian policies, such as the legalization of all drugs, vastly expanded legal immigration (perhaps to the point of open borders), drastically reduced government expenditure, and substantial deregulation.
Locke’s Second Treatise on Government is the first book to present a coherent liberal theory of the State. Many of its core ideas are now common-sense: that the legitimate end of government is to preserve and enlarge the freedom of its subjects; that sovereigns should be held accountable to the law; and that individuals have a natural right to life, liberty, and property even in the absence of government.
This is a short and readable book that reminds us how much the liberal tradition initiated by Locke is, at least rhetorically, embedded in much of contemporary discourse on democracy and politics.
This book is also of paramount importance to libertarians because it presents one of the first articulated arguments for private property as a means to create wealth.
English Enlightenment philosopher John Locke has been called the “Father of Liberalism”. Following in the tradition of Sir Francis Bacon, he is one of the first British empiricists, which emphasizes the role of empirical evidence in the formation of ideas. His work would greatly influence other prominent political and literary figures including Voltaire, Jean-Jacques Rousseau, and the founding fathers of the United States of America. Contained here in this volume is one of his most influential writings, the “Second Treatise of Government”. The “Second Treatise” is concerned with five specific themes in relation to government. Firstly Locke defines a state…
In the early 2000s, I noticed that lots of good American jobs were being lost to China. I was taught in college economics that trade was always win-win and that the government should stay out of the economy. I started reading the literature and found a number of flaws with these free trade and extreme free-market doctrines. The flaws were there in plain sight, but US trade economists, with vanishingly few exceptions, were ignoring them. Not only were the costs to our economy and our workers enormous, but the frustration of American workers with 30 years of failed promises by both parties has made our politics angrier and more divisive.
I was excited to read this book, co-authored by a former president of the American Economic Association, because it proved using the same mathematical modeling that economists love, that trade is sometimes—often, in fact—win/lose.
Specifically, when a developed country like the US loses a large or high-value industry to another country, it loses more than it gains by being able to import the industry’s products at a lower cost. This encouraged me to dig further into the problems with US trade policy.
Ralph Gomory and William Baumol adapt classical trade models to the modern world economy.
In this book Ralph Gomory and William Baumol adapt classical trade models to the modern world economy. Trade today is dominated by manufactured goods, rapidly moving technology, and huge firms that benefit from economies of scale. This is very different from the largely agricultural world in which the classical theories originated. Gomory and Baumol show that the new and significant conflicts resulting from international trade are inherent in modern economies.Today improvement in one country's productive capabilities is often attainable only at the expense of another country's…
I'm a political historian who writes for my fellow citizens and I have chosen books by writers who do the same. Books which are written with passion and purpose: to shift political understanding, to speak truth to power, to help people understand their country and the world, and to inspire a commitment to improving them.
A classic written on the eve of the Great Depression on the political culture of the British settlers in the great south land, with its commitment to egalitarianism, to bureaucratic process, and to protection all round, with restricted immigration and protective tariffs building ring-fences around ordinary workers’ standard of living. Hancock does not wholly approve of the result, which he sees as encouraging mediocre conformity. Written with verve and a sardonic eye.
The Spirit of Capitalism: Nationalism and Economic Growth is the second volume of my nationalism trilogy. When I published the first volume,Nationalism: Five Roads to Modernity, the accepted view on the subject of nationalism was that it is a product of economic development, specifically, of industrialization and capitalism. On the basis of historical evidence, I proved that its emergence had nothing to do with these economic phenomena: in fact, it preceded both. Reviews of Nationalism, noting that, for this reason, economic developments could not have caused nationalism, raised the question what relationship, then, did exist between nationalism and the economy, and this led me to investigate it.
Mercantilismis the classical historical discussion of the early expression of economic nationalism when it was a form of protectionism.
It is essential background reading for anyone interested in economic history. I recommend it among other things because without this background one cannot appreciate the position of Adam Smith in the Wealth of Nations, usually identified with the criticism of mercantilism, which he nevertheless defends when it advances British national interest.
In the early 2000s, I noticed that lots of good American jobs were being lost to China. I was taught in college economics that trade was always win-win and that the government should stay out of the economy. I started reading the literature and found a number of flaws with these free trade and extreme free-market doctrines. The flaws were there in plain sight, but US trade economists, with vanishingly few exceptions, were ignoring them. Not only were the costs to our economy and our workers enormous, but the frustration of American workers with 30 years of failed promises by both parties has made our politics angrier and more divisive.
I loved this book because it helped me understand why the Washington Consensus policies of unchecked globalism, including free trade and unregulated markets, are inequitable and destabilizing. It convincingly explains why they have never been and never will be truly accepted by other countries.
Importantly, it helped me to understand how their application in the US has created the conditions that are causing its own incipient turn away from free trade and unregulated markets. Written with great clarity, it freed me to think more broadly about alternatives.
Hailed by Kirkus Reviews as both "a convincing analysis of an international economy headed for disaster" and a "powerful challenge to economic orthodoxy," False Dawn shows that the attempt to impose the Anglo-American-style free market on the world will create a disaster, possibly on the scale of Soviet communism. Even America, the supposed flagship of the new civilization, risks moral and social disintegration as it loses ground to other cultures that have never forgotten that the market works best when it is embedded in society. John Gray, well known in the 1980s as an important conservative political thinker, whose writings…
In the early 2000s, I noticed that lots of good American jobs were being lost to China. I was taught in college economics that trade was always win-win and that the government should stay out of the economy. I started reading the literature and found a number of flaws with these free trade and extreme free-market doctrines. The flaws were there in plain sight, but US trade economists, with vanishingly few exceptions, were ignoring them. Not only were the costs to our economy and our workers enormous, but the frustration of American workers with 30 years of failed promises by both parties has made our politics angrier and more divisive.
This book makes the novel and, to me, fascinating case that the economy is an evolutionary system that is constantly changing, implying that the static equilibria of conventional trade models are not usefully predictive. It also made it clear to me, from a different perspective, that the industries in which a country succeeds are path-dependent.
If you are a mosquito, the next evolutionary mutation will not produce an elephant. Likewise, it is much easier to design and manufacture 3 nanometer-scale chips if you have already designed and manufactured 5 nanometer-scale chips. This drove home to me how important retaining the key industries of today is for our long-term prosperity.
Over 6.4 billion people participate in a $36.5 trillion global economy, designed and overseen by no one. How did this marvel of self-organized complexity evolve? How is wealth created within this system? And how can wealth be increased for the benefit of individuals, businesses, and society? In The Origin of Wealth, Eric D. Beinhocker argues that modern science provides a radical perspective on these age-old questions, with far-reaching implications. According to Beinhocker, wealth creation is the product of a simple but profoundly powerful evolutionary formula: differentiate, select, and amplify. In this view, the economy is a "complex adaptive system" in…
It has long been claimed that we face a choice between freedom and equality: that advocates of capitalism favour freedom, while critics prioritise equality. Philosopher Raoul Martinez was never persuaded by this claim, yet it took years of research across a number of disciplines to understand not only how problematic it is, but how foundational to our society and its crises it has become. His journey of discovery culminated in the writing of Creating Freedom, which dismantles this misleading narrative while deepening our understanding of human liberty: the many ways it is subverted and the path to its creation.
Drawing on extensive historical research, economist Ha-Joon Chang shows that today’s wealthiest nations became rich not by following the advice they have long given to poorer nations — embrace free and open markets with minimal state involvement — but by doing precisely the opposite: embracing policies of protectionism and significant state intervention. In admirably clear prose, Chang exposes the hypocrisy of the world’s richest nations and lays out a more promising path of development for the poorer countries of the world.
It's rare that a book appears with a fresh perspective on world affairs, but renowned economist Ha-Joon Chang has some startlingly original things to say about the future of globalization. In theory, he argues, the world's wealthiest countries and supra-national institutions like the IMF, World Bank and WTO want to see all nations developing into modern industrial societies. In practice, though, those at the top are 'kicking away the ladder' to wealth that they themselves climbed.
Why? Self-interest certainly plays a part. But, more often, rich and powerful governments and institutions are actually being 'Bad Samaritans': their intentions are worthy…
