100 books like Man, Economy, and State

By Murray N. Rothbard,

Here are 100 books that Man, Economy, and State fans have personally recommended if you like Man, Economy, and State. Shepherd is a community of 11,000+ authors and super readers sharing their favorite books with the world.

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Book cover of Economics in One Lesson

Caleb S. Fuller Author Of No Free Lunch: Six Economic Lies You've Been Taught And Probably Believe

From my list on the economic point of view.

Why am I passionate about this?

I’m an associate professor of economics at Grove City College, where I love introducing students to the economic point of view. My first book, listed below, pursues the relentless logic of tradeoffs. My second book (co-authored with Art Carden), Mere Economics: Lessons for and from the Ordinary Business of Life, is due out in early 2025. It examines how human beings expand their options through cooperation. For me, internalizing the economic point of view is a lifelong project. I think it will become yours, too, if you try these books! 

Caleb's book list on the economic point of view

Caleb S. Fuller Why did Caleb love this book?

This is the rare book that is as eye-opening for the novice in economics as it is stimulating for the professional economist. Hazlitt will show you why economics is the golden key to unlocking an endless series of social mysteries.

If you really take his classic 1946 “Lesson” to heart, you can outthink many professional economists who have mistaken mathematical pyrotechnics for economic insight. 

By Henry Hazlitt,

Why should I read it?

5 authors picked Economics in One Lesson as one of their favorite books, and they share why you should read it.

What is this book about?

With over a million copies sold, Economics in One Lesson is an essential guide to the basics of economic theory. A fundamental influence on modern libertarianism, Hazlitt defends capitalism and the free market from economic myths that persist to this day.

Considered among the leading economic thinkers of the “Austrian School,” which includes Carl Menger, Ludwig von Mises, Friedrich (F.A.) Hayek, and others, Henry Hazlitt (1894-1993), was a libertarian philosopher, an economist, and a journalist. He was the founding vice-president of the Foundation for Economic Education and an early editor of The Freeman magazine, an influential libertarian publication.  Hazlitt wrote…


Book cover of Human Action: A Treatise on Economics

Brian Balfour Author Of Economics in Action

From my list on books to learn Austrian economics.

Why am I passionate about this?

I’ve spent the last 17 years leveraging my Master’s degree in economics as a public policy analyst focusing on educating legislators and the public about the consequences of economic public policy. I’ve also taught several economic courses as an adjunct at a small university and area community college. Spreading sound economic knowledge is important to me. History–and the present day–is full of tragic tales of suffering in societies that failed to heed the lessons of sound economics. Sadly, however, the majority of Americans are either uneducated or mis-educated in economics. My passion is to advance economic understanding among citizens–especially young people–in order to correct that.

Brian's book list on books to learn Austrian economics

Brian Balfour Why did Brian love this book?

Mises was often referred to as the “godfather of Austrian Economics” for his voluminous contributions to economic science. This book is his most well-known and hefty treatise. 

Mises expertly walks the reader through his explanation of economics being a branch of praxeology, the study of the implications of human action. With a passionate writing style, Mises pulls no punches on his critics while providing the reader with a graduate-level economic education without the often-confusing technical jargon academic courses often impose on students.

Mises uses explanatory language rather than mathematical equations and graphs to make his points. The book is not light reading, however, and should not be attempted without first gaining some understanding of the Austrian School of Economics. And weighing in at nearly 900 pages, expect to set aside some time to get through it. But it will be time well spent.

By Ludwig von Mises,

Why should I read it?

3 authors picked Human Action as one of their favorite books, and they share why you should read it.

What is this book about?

In Human Action, Mises starts from the ideas set forth in his Theory and History that all actions and decisions are based on human needs, wants, and desires and continues deeper and further to explain how studying this human action is not only a legitimate science (praxeology) but how that science is based on the foundation of free-market economics.

Mises presents and discusses all existing economic theories and then proceeds to explain how the only sensible, realistic, and feasible theory of economics is one based on how the needs and desires of human beings dictate trends, affect profits and losses,…


Book cover of Money, Bank Credit & Economic Cycles

Philipp Bagus Author Of Blind Robbery! How the Fed, Banks and Government Steal Our Money

From my list on Austrian economics.

Why am I passionate about this?

In high school I became interested in politics and economics. Soon I found the Austrian school and decided to make it my profession. I went to the US to study Austrian economics and later to Spain to study with Prof. Huerta de Soto. Finally, I became a Professor of Economics myself, teaching and writing in the tradition of the Austrian School. 

Philipp's book list on Austrian economics

Philipp Bagus Why did Philipp love this book?

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.

By Jesus Huerta de Soto,

Why should I read it?

1 author picked Money, Bank Credit & Economic Cycles as one of their favorite books, and they share why you should read it.

What is this book about?

Can the market fully manage the money and banking sector?

Jesús Huerta de Soto, professor of economics at the Universidad Rey Juan Carlos, Madrid, has made history with this mammoth and exciting treatise that it has and can again, without inflation, without business cycles, and without the economic instability that has characterized the age of government control.

Such a book as this comes along only once every several generations: a complete comprehensive treatise on economic theory. It is sweeping, revolutionary, and devastating--not only the most extended elucidation of Austrian business cycle theory to ever appear in print but also a…


Book cover of The Theory of Dynamic Efficiency

Philipp Bagus Author Of Blind Robbery! How the Fed, Banks and Government Steal Our Money

From my list on Austrian economics.

Why am I passionate about this?

In high school I became interested in politics and economics. Soon I found the Austrian school and decided to make it my profession. I went to the US to study Austrian economics and later to Spain to study with Prof. Huerta de Soto. Finally, I became a Professor of Economics myself, teaching and writing in the tradition of the Austrian School. 

Philipp's book list on Austrian economics

Philipp Bagus Why did Philipp love this book?

This book contains some of the most important articles written by Jesús Huerta de Soto, one of the leading Austrian economists.

I have come to live in Spain to study with Jesús Huerta de Soto. The quality of each one of these essays is extraordinary. I recommend to everyone interested in Austrian economics to study this book in depth.

Huerta de Soto is one of the leading Austrian economists living. His works are very creative and this book gives an overview of his impressive work on a wide range of subjects.

By Jesus Huerta De Soto,

Why should I read it?

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

What is this book about?

This book gathers a collection of English language essays by Jesus Huerta de Soto over the past ten years, examining the dynamic processes of social cooperation which characterize the market, with particular emphasis on the role of both entrepreneurship and institutions. The author's multidisciplinary approach to the subject is in keeping with a trend in economic thought established by the Austrian school of economics; a discourse that had witnessed a significant revival over the last thirty years.

Areas covered in this book include an introduction to the theory of dynamic efficiency as an alternative to the standard paretian criteria, an…


Book cover of The Positive Theory of Capital

Brian Balfour Author Of Economics in Action

From my list on books to learn Austrian economics.

Why am I passionate about this?

I’ve spent the last 17 years leveraging my Master’s degree in economics as a public policy analyst focusing on educating legislators and the public about the consequences of economic public policy. I’ve also taught several economic courses as an adjunct at a small university and area community college. Spreading sound economic knowledge is important to me. History–and the present day–is full of tragic tales of suffering in societies that failed to heed the lessons of sound economics. Sadly, however, the majority of Americans are either uneducated or mis-educated in economics. My passion is to advance economic understanding among citizens–especially young people–in order to correct that.

Brian's book list on books to learn Austrian economics

Brian Balfour Why did Brian love this book?

Bohm-Bawerk is too often overlooked when discussing influential Austrian School economists. This is a shame because his work included significant insights and new contributions to economic science. This book, written in 1888, is no exception. 

In this book, Bohm-Bawerk uncovers the origin of the phenomena of interest to be man’s time preference. That is, humans value present goods more than future goods. Thus, the important implications of the passage of time in the production process are examined in this book, including a discussion of why this concept refutes Marx’s labor theory of value and his conclusion that capitalism exploits workers. 

Book cover of Principles of Economics

Brian Balfour Author Of Economics in Action

From my list on books to learn Austrian economics.

Why am I passionate about this?

I’ve spent the last 17 years leveraging my Master’s degree in economics as a public policy analyst focusing on educating legislators and the public about the consequences of economic public policy. I’ve also taught several economic courses as an adjunct at a small university and area community college. Spreading sound economic knowledge is important to me. History–and the present day–is full of tragic tales of suffering in societies that failed to heed the lessons of sound economics. Sadly, however, the majority of Americans are either uneducated or mis-educated in economics. My passion is to advance economic understanding among citizens–especially young people–in order to correct that.

Brian's book list on books to learn Austrian economics

Brian Balfour Why did Brian love this book?

Often credited as the book that launched the “Austrian School,” Menger’s 1871 masterpiece marked a revolutionary correction in the widely accepted theory on the source of economic value prevailing at the time. Menger convincingly made the case that the economic value of goods comes from the mind of the individual–not from the labor inputs used to make it.

Menger further explained that people evaluate the value of goods on the margins–that is, of the next marginal unit–and not just of a good in general. This insight was so profound that it kicked off what was called the “marginal revolution” in economic science. 

Menger also covers price theory, the role of time in production, and the origin of money. This book is a must-read for anybody wanting a thorough primer on the Austrian School of Economics. 

By Carl Menger,

Why should I read it?

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

What is this book about?

In the beginning, there was Menger. It was his Principles of Economics that reformulated — and really rescued — economic science from the theoretical errors of the old classical school.Menger set out to elucidate the precise nature of economic value, and to root economics firmly in the real-world actions of individual human beings. In Principles of Economics, he advances the theory that the marginal utility of goods is the source of their value, rather than the labor inputs that went into making them. The implication of this theory is that the individual mind is the source of economic value —…


Book cover of The Theory of Money and Credit

Michael G. Pento Author Of The Coming Bond Market Collapse: How to Survive the Demise of the U.S. Debt Market

From my list on fiscal destruction of America’s foundation of freedom.

Why am I passionate about this?

My passion is to prepare clients' investments for the impending debt crisis. That is why I started Pento Portfolio Strategies and created the Inflation/Deflation and Economic Cycle Model. The US faces an entirely new paradigm – due to onerous debt, central banks are forced to either massively monetize the nation's debt or allow a cathartic deflationary depression to reset the economy. Our government is now compelled to seek a condition of perpetual inflation to maintain the illusion of prosperity and solvency. Our central bank is now walking the economy on a tightrope between inflation and deflation. This will require a vastly different and active investment strategy to fit the new dynamic.

Michael's book list on fiscal destruction of America’s foundation of freedom

Michael G. Pento Why did Michael love this book?

Written over a century ago, this is a book for the ages.

I read this book early in my career, and it provided a basis for understanding money that helped form my current economic theories. Mises reveals how money originated in the market and how its value is based on its efficacy as a commodity in exchange.

Mises concisely lays out the case for sound money with no inflation and introduces the beginnings of a full-scale business cycle theory. 

By Ludwig von Mises,

Why should I read it?

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

What is this book about?

"It is impossible to grasp the meaning of the idea of sound money if one does not realize that it was devised as an instrument for the protection of civil liberties against despotic inroads on the part of governments." - from The Theory of Money and Credit

Originally published in 1912, Ludwig von Mises's The Theory of Money and Credit remains today one of economic theory's most influential and controversial treatises. Von Mises's examination into monetary theory changed forever the world of economic thought when he successfully integrated "macroeconomics" into "microeconomics" -previously deemed an impossible task -as well as offering…


Book cover of Man, Economy, and State, V1: A Treatise on Economic Principles

Benjamin Gilad Author Of The Opposite of Noise: The Power of Competitive Intelligence

From my list on how to avoid making dumb decisions in your job.

Why am I passionate about this?

I am always fascinated by how smart people and big companies are blind to risks and opportunities under their noses. Then one day I had a chance to start training them to avoid bad surprises. Based on my unusual background (combination of police intelligence and advanced economics degree) I created the Academy of Competitive Intelligence. It has become the leading global school for avoiding dumb decisions. It now has 10,000 corporate alumni! I didn’t plan it; I didn’t sit down and had a great business plan. I just spotted an opportunity and I grabbed it. Maybe you should do the same? My book tells you how.

Benjamin's book list on how to avoid making dumb decisions in your job

Benjamin Gilad Why did Benjamin love this book?

I am an economist by training. I taught economic courses at Rutgers University for two decades but the only economic framework I consider useful for real-world managers is the classical school known as Austrian Economics, of which Murray Rothbard was one of the more eloquent and accessible voices. Mainstream economists busy themselves with complex mathematical models that are in the end utterly useless in explaining the world, or worse, are utterly wrong in predicting the consequences of policies but are provided by “court economists” to support ideologies. Murry Rothbard, in contrast, lays down the principles of economic theory that will guide your investment/competitive strategies based on the most solid and realistic economic reasoning around. The book is not easy to read, but it will change your understanding of the world. It inspired me to get a Ph.D. 

By Murray N. Rothbard,

Why should I read it?

1 author picked Man, Economy, and State, V1 as one of their favorite books, and they share why you should read it.

What is this book about?

This is a new release of the original 1962 edition.


Book cover of Radicals for Capitalism: A Freewheeling History of the Modern American Libertarian Movement

Andrew Koppelman Author Of Burning Down the House: How Libertarian Philosophy Was Corrupted by Delusion and Greed

From my list on libertarian philosophy.

Why am I passionate about this?

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.

Andrew's book list on libertarian philosophy

Andrew Koppelman Why did Andrew love this book?

This is the indispensable book if you want to know what libertarianism is and where it came from. It is filled with more entertaining eccentrics than a Dickens novel. My book focuses on philosophical arguments for a minimal state, but I couldn’t get very deep into the historical background: who was making those arguments and what moved them to do it. One of the pleasures of intellectual history is encountering minds that are weird and surprising (not necessarily in a bad way), and Doherty offers a lot of them.

By Brian Doherty,

Why should I read it?

1 author picked Radicals for Capitalism as one of their favorite books, and they share why you should read it.

What is this book about?

On Wall Street, in the culture of high tech, in American government: Libertarianism-the simple but radical idea that the only purpose of government is to protect its citizens and their property against direct violence and threat-has become an extremely influential strain of thought. But while many books talk about libertarian ideas, none until now has explored the history of this uniquely American movement-where and who it came from, how it evolved, and what impact it has had on our country. In this revelatory book, based on original research and interviews with more than 100 key sources, Brian Doherty traces the…


Book cover of The Economic Point of View: An Essay in the History of Economic Thought

Caleb S. Fuller Author Of No Free Lunch: Six Economic Lies You've Been Taught And Probably Believe

From my list on the economic point of view.

Why am I passionate about this?

I’m an associate professor of economics at Grove City College, where I love introducing students to the economic point of view. My first book, listed below, pursues the relentless logic of tradeoffs. My second book (co-authored with Art Carden), Mere Economics: Lessons for and from the Ordinary Business of Life, is due out in early 2025. It examines how human beings expand their options through cooperation. For me, internalizing the economic point of view is a lifelong project. I think it will become yours, too, if you try these books! 

Caleb's book list on the economic point of view

Caleb S. Fuller Why did Caleb love this book?

Ask ten different people to define economics, and you’ll get ten different answers. Does it have something to do with money, finance, the “economy”? Is it about wealth creation? Worse, does it assume people are self-centered greed monsters who care only about maximizing their own happiness, which is assumed to be achievable solely through material acquisition? Worse still, does economics justify or condone such behavior?

Kirzner’s book, which was his dissertation written under the guidance of Ludwig von Mises, shows us the way out of this mess. Read this book to learn why economics is the best tool we have for making sense of the social world. Plus, no unrealistic assumptions about humans are needed! 

By Israel M. Kirzner,

Why should I read it?

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

What is this book about?

The inaugural volume in Liberty Fund's new Collected Works of Israel M Kirzner series, "The Economic Point of View" contains Kirzner's 1960 doctoral dissertation under Ludwig von Mises, a work that established Kirzner as a careful and meticulous scholar of economics.


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