Fans pick 100 books like The Economy

Steven Levitt, Professor of Economics at the University of Chicago, has written a thoughtful book at the layperson level to help one understand how mathematical and economic tools provide insights into sensitive social issues from racism to abortion.

He delves into predicting the long-term consequences of short-term decisions. This book is not intended for the college classroom, and it is controversial, but I found it to be a fascinating read.

This is a funny exploration of the popular TV series, showing how each episode is packed with microeconomics topics, including comparative advantage, demand and supply, costs, market imperfections, and government interventions.

It even includes several references to macroeconomics, including growth, labor markets, and inequality.

Readers can also consider other titles in this series, based on their taste of popular culture, including Superheroes and Economics, Seinfeld and Economics, and The Beatles and Economics, among others.

This is a widely used book in introduction to microeconomics courses in colleges around the world, from the Nobel Prize winner Paul Krugman.

The book assumes no algebra or calculus, other than elementary arithmetic, thus being appropriate for students from different backgrounds.

Each chapter is well motivated with real-life problems and data, followed by a basic, intuitive, explanation of how microeconomics helps us model and understand the tradeoff that individuals or firms face in that setting.

Highly recommended for students with little math background.

This is a classic reference for students learning microeconomic theory, both in economics and business degrees.

It offers a nice combination of motivating real-life examples, rigor, figures, and intuitive explanations.

Because it avoids mathematical details in most chapters, it is often used in introductory courses, helping get students “hungry for more” in next courses, such as intermediate or advanced microeconomics.

However, it assumes a bit more mathematical background than Krugman and Wells’ book (presented above), so it can be used as the main reference for introductory courses if students have some basic algebra.

It’s impossible to understand the modern economy without grasping the importance of debt, and no one understands debt better than Ann Pettifor.

Pettifor spent more than a decade campaigning to cancel the unjust and unpayable debt of African, Asian, and Latin American countries – debt that was causing mass impoverishment and robbing people of their rights and livelihoods. Then she turned her attention to the damage that debt was doing in the West, predicting the financial crash of 2007-8.

For Pettifor, the problem started in the early 1970s, when the financial system was ‘freed’ by politicians from the constraints which had forced it to behave in a more reasonable way up to that point. Pettifor argues that we won’t be able to deal with our economic problems until we constrain our banks once more.          

This book presents one of the most thoughtful and—to me—convincing accounts of the relationship between globalization and economic growth.

The author rejects the simple dichotomies offered up by “pro-globalizers” and “anti-globalizers,” arguing that successful development tends to require experimentation, pragmatism, and the adaptation of policy tools to local contexts.

This empirically grounded perspective not only explains a great deal of variation in the fortunes of developing countries but also complements and extends key principles of economics. 

This book explains why Mexico has been important to the governance of the global economy.

Mexican officials and economists promoted a post-colonial and development conception of the global economy based on equality, inclusion, and redistribution. Thornton writes about the entire architecture of the global economy, of which international trade was an important part.

Her work explains the significance of a politics of resistance that shaped and was suppressed by the global economic order. She notes that scholarship that excludes or minimizes global South countries perpetuates their marginalization.

This is one of the most influential books on economic globalization written in the last decade, and it will certainly continue to be crucial to understand the future of globalization.

Rodrik’s Globalization Paradox pinpoints the key policy trade-offs in a globalized economy: If policymakers opt for “hyper-globalization” while insisting on national decision-making, they could find their societies in the “golden straitjacket” of global capitalism.

Alternatively, they could give up sovereignty to democratically legitimized “global governance”.

As the latter is difficult to achieve and often unacceptable to national policymakers, Rodrik argues for limiting hyper-globalization.

The existence of a globalization paradox as well as Rodrik’s conclusion, has been hotly discussed, but the ongoing debate only proves the importance of his book.

Hillman, a senior fellow at the Center for Strategic and International Studies and director of the Reconnecting Asia Project, wrote a very topical book on China’s Bridge and Road Initiative (BRI), calling it “the project of the century.” Indeed, the BRI encompasses a projected $1 trillion in spending on new roads, railways, telecommunications, and other critical infrastructure, aiming to bind together the Eurasian landmass and Africa (key for natural resources) into a trade and investment zone dominated by Beijing. What I found the most noteworthy was the following: “Xi’s vision is constrained by neither geography nor even gravity. Since its announcement, the BRI has stretched into the Arctic, cyberspace, and outer space.”

Hillman readily acknowledges China making mistakes (over-lending to credit-challenged countries in particular) and that going forward Beijing will need greater skill, lower expectations, and a heavy dose of modesty to make it work. For anyone interested in major… show more.

If you can get past the title, this book is a model for how to write about international economic diplomacy.

Gardner connects technical matters like tariffs, exchange rates, quantitative restrictions, and loans to ideology, the status of nations, and relations between states. Set in the 1940s, it follows American and British efforts to set up the IMF, World Bank, and GATT.

Although officials believed that the highest political stakes were connected to trade – the peace and security of the world were at issue – they fought constantly about trade.