Here are 25 books that Studies in the Theory of International Trade fans have personally recommended if you like
Studies in the Theory of International Trade.
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I am a Full Professor and Lab Director in Economics. My interest in this field began when I traveled abroad and observed the differences in prices, goods, and quality of life. In order to gain a deeper understanding, I decided to switch from my previous academic background in Engineering, Mathematics & Physics to Economics, Finance & Data Science. Today, I am dedicated to expanding my knowledge and sharing my insights through teaching, academic publications, and LinkedIn posts. According to the latest rankings, I am humbled to be among the top 3% most productive economists worldwide (IDEAS-RePec, 2023), as well as being ranked among the top 4% researchers in Financial Economics, and the top 5% in Econometrics (Researchgate, 2023).
Are you looking for a good introduction to Economics?
Then, as I did, start with a brilliant survey of the main thinkers, who have shaped our understanding of the economic system. These economists’ thoughts ranged from addressing how to improve the quality of life for all, to understanding the source of value and the functioning of the economy.
Although they were not always accurate, their influence on contemporary Economics is tremendous, and Heilbroner's writing style will captivate you. I recommend this book to all of my students and colleagues.
In fact, after reading this book during my University studies, I became inspired to study Economics in depth and engage in scholarly research. Even switched from Engineering, Mathematics, and Physics to Economics, Finance, and Data Science.
I am a Full Professor and Lab Director in Economics. My interest in this field began when I traveled abroad and observed the differences in prices, goods, and quality of life. In order to gain a deeper understanding, I decided to switch from my previous academic background in Engineering, Mathematics & Physics to Economics, Finance & Data Science. Today, I am dedicated to expanding my knowledge and sharing my insights through teaching, academic publications, and LinkedIn posts. According to the latest rankings, I am humbled to be among the top 3% most productive economists worldwide (IDEAS-RePec, 2023), as well as being ranked among the top 4% researchers in Financial Economics, and the top 5% in Econometrics (Researchgate, 2023).
Since my PhD was based on Schumpeter's work, I can confidently state that it is well worth exploring the fascinating world of Economics through one of history's greatest economists.
This masterpiece takes the reader on a journey through every corner of the subject, paying particular attention to even the smallest details. A unique and thought-provoking view of Economics is offered by Schumpeter in his over 1000 pages of brilliant insights.
This book distinguishes itself from others through its deep and unconventional interpretation of Economics. It is a must-read for anyone seeking a thorough understanding of Economics as Schumpeter provides fresh insights on various topics.
However, it would be much better if it covered more recent developments. Enjoy this tour of Economics with Schumpeter and you will never get bored!
At the time of his death in 1950, Joseph Schumpeter--one of the great economists of the first half of the 20th century--was working on his monumental History of Economic Analysis. A complete history of efforts to understand the subject of economics from ancient Greece to the present, this book is an important contribution to the history of ideas as well as to economics. Although never fully completed, it has gained recognition as a modern classic due to its broad scope and original examination of significant historical events. Complete with a new introduction by Mark Perlman, who outlines the structure of…
Microeconomics is a turnoff to most readers. Not without reason. Many books in this field are dull rewrites of other books and opaque. In particular, it is not clear how the behavior of individual consumers and producers adds to the performance—good or bad—of an economy. The books listed here helped me to sharpen my own mind and to make my writing lucid.
Mark Blaug escaped the Netherlands, just in time before the Nazis marched in, went to New York University, and eventually wrote this colossal overview of the entire body of the economics literature.
He is capable of ordering different formal approaches to the subject matter in plain English, what an achievement.
This is a history of economic thought from Adam Smith to John Maynard Keynes - but it is a history with a difference. Firstly, it is a history of economic theory, not of economic doctrines, that is, it is consistently focused on theoretical analysis, undiluted by entertaining historical digressions or biological colouring. Secondly, it includes detailed Reader's Guides to nine of the major texts of economics, namely the works of Smith, Ricardo, Mill, Marx, Marshall, Wickstead, Wicksell, Walras and Keynes, in the effort to encourage students to become acquainted at first hand with the writings of all the great economists.…
As a Professor of Economic History at the Oxford University, I taught the history of economic thought and wrote articles and a book in the field (The Nobel Factor).I love the limpid style and encompassing view of the classical economists (the first century after Smith). Their literary and academic styles have been abandoned, but they still have a great deal to teach. The role of land and natural resources as a factor of production in their theory has become relevant again as the environment comes under pressure. I also published in several other fields. My latest book is Understanding the Private-Public Divide: Markets, Governments and Time Horizons (2022).
Read anything by Mirowski. By far the best writer in the field today.
Highly original, massively intelligent, stimulating, witty, deeply informed, a trenchant writer. His life’s work is to probe the validity and scientific pretensions of the discipline.
The critiques are biting, all the more so for the real-world authority wielded by economists. That he is sometimes a provocative maverick adds to the appeal.
Machine Dreamsargued implausibly (for its time) that economics had embraced robotic simulation. The emergence of AI shows how far ahead of its time it was.
This was the first cross-over book into the history of science written by an historian of economics. It shows how 'history of technology' can be integrated with the history of economic ideas. The analysis combines Cold War history with the history of postwar economics in America and later elsewhere, revealing that the Pax Americana had much to do with abstruse and formal doctrines such as linear programming and game theory. It links the literature on 'cyborg' to economics, an element missing in literature to date. The treatment further calls into question the idea that economics has been immune to postmodern…
I’m a nerd about all things museums and archives, which I teach and write about. I was trained as an anthropologist, and got really interested in using anthropology’s methods (namely ethnography) to do long-term, embedded, deep-dive fieldwork in bureaucratic settings, like big museums. I love reading books by journalists, economists, historians, and others who do ethnography and really embed themselves in different communities, places, and cultures.
This was the first book I read that was kind of an embedded object biography back when I was an undergraduate student in my second-ever anthropology class. I was totally hooked on the genre. This book follows t-shirts, from where cotton is picked, to where t-shirts are manufactured, printed, sold and distributed, to their disposal—including second lives on the used clothing market. “Who made your t-shirt?” as a great first starting question.
The keys to global business success, as taught by a T-shirt's journey
The Travels of a T-Shirt in the Global Economy is a critically-acclaimed narrative that illuminates the globalization debates and reveals the key factors to success in global business. Tracing a T-shirt's life story from a Texas cotton field to a Chinese factory and back to a U.S. storefront before arriving at the used clothing market in Africa, the book uncovers the political and economic forces at work in the global economy. Along the way, this fascinating exploration addresses a wealth of compelling questions about politics, trade, economics, ethics,…
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 am a retired professor of History and International Political Economy. Unraveling knotted masses of string was a relaxing, enjoyable activity for me while growing up. As a historian, I continue to pick apart entangled matters, particularly about capitalism as a complex system. Networks give structure to complex systems, and I find networked merchants in the modern era (ca. 1500- 1945) especially fascinating to study. Who were they? How did they create opportunities and work across borders and cultures? How did they work around adversities? How did they both perpetuate and diversify their networks? How did they link to and collaborate with one another? How do networks evolve?
Which group of merchants in Britain played an exceptionally important role in catapulting that nation to the forefront of the global economy during the 18th century and beyond? Until you have read this book, your first thought probably would not be “Germans,” but it was. How did they do that? Through networking, of course.
I like this book because the author has brushed away the gloss-over of time to reveal how a group that was a statistical minority in Britain (migrant German merchants) made a big impact on their host society—and the world at large.
The "forgotten majority" of German merchants in London between the end of the Hanseatic League and the end of the Napoleonic Wars became the largest mercantile Christian immigrant group in the eighteenth century. Using previously neglected and little used evidence, this book assesses the causes of their migration, the establishment of their businesses in the capital, and the global reach of the enterprises. As the acquisition of British nationality was the admission ticket to Britain's commercial empire, it investigates the commercial function of British naturalization policy in the early modern period, while also considering the risks of failure and chance…
I was born in North Dakota and raised outside of Minneapolis in the 1980s and 1990s, a period marked by the ascendance of global trade and finance. I got hooked on reading, thinking, and talking about the politics of international economic relations in college. Sufficiently hooked, I guess, that I applied to graduate school to try and make it my vocation. My research and teaching to this point have focused on how key political and ideational forces in domestic and world politics – namely, international organizations, shared economic beliefs, social conventions, and material interests – shape the governance of globalized markets and the crafting of countries’ foreign economic policies.
Reading this book in graduate school was revelatory. It was mostly ignored upon publication. But in the subsequent eighty years Hirschman’s insights have become part of the bedrock of my field of international political economy.
The key idea is that countries seeking to enhance and expand their power can use “liberal” commercial strategies to induce economic and political dependency in smaller, weaker partners. It’s dangerous, in other words, to simply assume that more extensive trade and investment flows between countries will engender a more stable, peaceful international system.
Uncontrolled trade can aggravate tensions and facilitate international disorder. Hirschman arrives at a bold idea: surrendering national authority to follow global rules and institutions is the only way to counteract the harmful effects of massive power and wealth inequalities in world politics.
This study begins with a brief survey of economic thought on the relationship between foreign trade and national power, from the Mercantilists on. Chapter II attempts a systematic theoretical approach to the subject. It first makes clear the fundamental basis of the possible use of foreign trade as an instrument of national power policy. Using well-known concepts of economic analysis, it proceeds to show under what conditions and by means of what policies this instrument is likely to attain its highest efficiency. The principles of power policy thus deduced theoretically are then compared with the actual practices followed by German…
Avinash Dixit is an emeritus university professor of economics at Princeton. He is a member of the National Academy of Sciences and was President of the American Economic Association for the year 2008.
A brilliant sweep through the millennia of commerce around the world. If you think globalization happened over the last quarter-century, you are wrong by about 5000 years. Find out how and why.
A sweeping narrative history of world trade—from Sumer in 3000 BC to the firestorm over globalization today—that brilliantly explores trade’s colorful and contentious past and provides fresh insights into social, political, cultural, and economic history, as well as a timely assessment of trade’s future.
Adam Smith wrote that man has an intrinsic “propensity to truck, barter, and exchange one thing for another.” But how did trade evolve to the point where we don’t think twice about biting into an apple from the other side of the world?
In A Splendid Exchange, William J. Bernstein tells the extraordinary story of global…
As a historian, I’ve always been fascinated by the mutual influence of power and economics. I’ve written about the political-economic origins of revolution, war, and the search for world peace. I believe that to understand the sweeping geopolitical transformations that have shaped recent centuries—imperialism, the world wars, decolonization, or the fall of the Soviet Union—we need to consider the deep pulse of economics. The books that really grab me open up the worldviews of people in the past, explain how they believed economics and geopolitics shaped one another, and show how these assumptions impelled their actions in the world.
The “company-states” of the book’s title include the East India companies of the seventeenth and eighteenth centuries and their peers in other regions, like the Hudson’s Bay Company. These corporations enjoyed many of the powers of states: they hired troops, armed ships, waged war, and signed treaties with foreign rulers. Some came to govern empires. The authors explain how these hybrid geopolitical actors—part capitalist businesses, part polities—came to acquire a key role in global politics, and why they subsequently lost it. Modern multinationals can be geopolitical actors too, we imagine, but Phillips and Sharman show how different the capitalist order of the past was from the world we live in today.
How chartered company-states spearheaded European expansion and helped create the world's first genuinely global order From Spanish conquistadors to British colonialists, the prevailing story of European empire-building has focused on the rival ambitions of competing states. But as Outsourcing Empires shows, from the seventeenth to the twentieth centuries, company-states'not sovereign states'drove European expansion, building the world's first genuinely international system. Company-states were hybrid ventures: pioneering multinational trading firms run for profit, with founding charters that granted them sovereign powers of war, peace, and rule. Those like the English and Dutch East India Companies carved out corporate empires in Asia, while…
