100 books like The General Theory of Employment, Interest, and Money

By John Maynard Keynes,

Here are 100 books that The General Theory of Employment, Interest, and Money fans have personally recommended if you like The General Theory of Employment, Interest, and Money. Shepherd is a community of 12,000+ authors and super readers sharing their favorite books with the world.

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Book cover of The Deficit Myth: Modern Monetary Theory and the Birth of the People's Economy

L. Randall Wray Author Of Making Money Work for Us: How MMT Can Save America

From my list on helping you understand how money really works.

Why am I passionate about this?

I’ve been studying money since the early 1980s, when my dissertation advisor—the late and great Hyman Minsky—warned me not to do “Genesis”, origins stories of money. But I couldn't resist. I'm one of the founders of Modern Money Theory (MMT), an approach developed over the past three decades that has garnered tens of thousands of followers and earned the hatred of the elite. And, yet, those who know how money really works—or who embrace public policy pursuing the public interest (Bernie Sanders, Alexandria Ocasio-Cortez), and even central bankers—have admitted that government cannot run out of money. I’ve written hundreds of academic papers, more blogs, many books, and given hundreds of interviews presenting the MMT alternative.

L.'s book list on helping you understand how money really works

L. Randall Wray Why did L. love this book?

This one’s by a member of the home team—a former student, colleague, collaborator, and fellow MMT conspirator.

Kelton was an advisor to Bernie Sanders, served as chief economist for the Senate Budget Committee, and is a frequent guest on all the important media outlets. She explains the basics of MMT and why they are important—especially right now as Congress is hog-tied trying to figure out what to do to prevent Uncle Sam from defaulting as we broach the debt limit.

Read this book and you’ll never again confuse Uncle Sam’s budget with your own. You can run out of money! Uncle Sam cannot. Uncle Sam’s budget deficit puts money in your pocket! His debt is your asset!

If you are worried about the government’s deficit and debt, take a deep breath, and read this book now 

By Stephanie Kelton,

Why should I read it?

3 authors picked The Deficit Myth as one of their favorite books, and they share why you should read it.

What is this book about?

THE INTERNATIONAL BESTSELLER

'Kelton has succeeded in instigating a round of heretical questioning, essential for a post-Covid-19 world, where the pantheon of economic gods will have to be reconfigured' Guardian

'Stephanie Kelton is an indispensable source of moral clarity ... the truths that she teaches about money, debt, and deficits give us the tools we desperately need to build a safe future for all' Naomi Klein

'Game-changing ... Read it!' Mariana Mazzucato

'A rock star in her field' The Times

'This book is going to be influential' Financial Times

'Convincingly overturns conventional wisdom' New York Times

Supporting the economy, paying…


Book cover of Macroeconomic Theory: Economic Theory, Econometrics and Mathematical Economics

Sumru Altug Author Of Dynamic Macroeconomic Analysis: Theory and Policy in General Equilibrium

From my list on individual choices and aggregate phenomena.

Why am I passionate about this?

I was a very bright little girl growing up in Boston, Massachusetts in the mid-1960s. I passed the entrance exam for Girls’ Latin School in Boston without difficulty and set out for a lifelong journey through many great institutions of higher learning. By the time I was a university student, I knew I wanted to help solve social problems. So, I chose to become an economist. I’m a bit techy but I also have a passion for great writing and history. In recent years, my profession has allowed me to get to know Asia and its amazing cultures through my visits to Hong Kong, Taiwan, Japan, China, India, and my current abode, Beirut!      

Sumru's book list on individual choices and aggregate phenomena

Sumru Altug Why did Sumru love this book?

During my graduate school years at Carnegie-Mellon University, I was exposed to Thomas Sargent’s Macroeconomic Theory, which taught me how to work with difference equations.

More importantly, it inculcated the notion in me that economic theory and econometrics are inseparable notions. The approach that I attained from this book together with the courses that I took at Carnegie-Mellon’s Graduate School of Industrial Administration - GSIA as it was called then – have colored by my research outlook and my research itself over the years.

While Thomas Sargent produced many other graduate textbooks on macroeconomics in future years, I might say this was the most influential one (for me) in terms of the fluidity of its writing and its attempt to bridge macroeconomic theory and empirical research. 

By Thomas J. Sargent,

Why should I read it?

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

What is this book about?

"Macroeconomic Theory", in its first edition, was widely adopted for use as a graduate text; this updated and expanded version should find even greater popularity as a text and as a research reference. It has been substantially revised to include three entirely new chapters: The Consumption Function, Government Debt and Taxes, and Dynamic Optimal Taxation. Significant additions have been made to three of the original chapters dealing with difference equations, stochastic difference equations, and investment under uncertainty.


Book cover of The New Classical Macroeconomics

Sumru Altug Author Of Dynamic Macroeconomic Analysis: Theory and Policy in General Equilibrium

From my list on individual choices and aggregate phenomena.

Why am I passionate about this?

I was a very bright little girl growing up in Boston, Massachusetts in the mid-1960s. I passed the entrance exam for Girls’ Latin School in Boston without difficulty and set out for a lifelong journey through many great institutions of higher learning. By the time I was a university student, I knew I wanted to help solve social problems. So, I chose to become an economist. I’m a bit techy but I also have a passion for great writing and history. In recent years, my profession has allowed me to get to know Asia and its amazing cultures through my visits to Hong Kong, Taiwan, Japan, China, India, and my current abode, Beirut!      

Sumru's book list on individual choices and aggregate phenomena

Sumru Altug Why did Sumru love this book?

This is a collected volume that Kevin Hoover of Duke University put together to provide a philosophical and methodological viewpoint on the empirical and quantitative research that was emerging from the Universities of Chicago, Minnesota, Carnegie-Mellon, Rochester in the 1970s and 1980s.

My own article, “Time-to-Build and Aggregate Fluctuations: Some New Evidence”, originally published in International Economic Review in 1989, was re-printed in this volume. Why was this article re-printed in this volume? It showed that a tightly-specified representative consumer model of aggregate fluctuations, regardless of the theoretical enhancements and econometric approach, could not explain series like aggregate output, consumption and investment jointly with aggregate hours.

While Kevin Hoover continued his methodological research on causality, micro-foundations of macroeconomics and the like, this research led me to delve into micro data models of consumption and labor supply with my co-author Robert Miller from CMU to model individual choices under aggregate shocks.     

By Kevin D. Hoover (editor),

Why should I read it?

1 author picked The New Classical Macroeconomics as one of their favorite books, and they share why you should read it.

What is this book about?

Over the past two decades the new classical macroeconomics has become the single most coherent school of macroeconomic thought. Always controversial, it has nonetheless captured centre-stage, and has become the standard by which competing schools of thought are judged. These volumes contain the most important and influential articles of the new classical school, as well as some important articles critical of new classical thinking. The volumes are arranged thematically, beginning with the rational expectations hypothesis and the application of general equilibrium to labour markets, and continuing with various new classical arguments for the ineffectiveness of government policy. The core of…


Book cover of The Mediterranean in the Ancient World

Sumru Altug Author Of Dynamic Macroeconomic Analysis: Theory and Policy in General Equilibrium

From my list on individual choices and aggregate phenomena.

Why am I passionate about this?

I was a very bright little girl growing up in Boston, Massachusetts in the mid-1960s. I passed the entrance exam for Girls’ Latin School in Boston without difficulty and set out for a lifelong journey through many great institutions of higher learning. By the time I was a university student, I knew I wanted to help solve social problems. So, I chose to become an economist. I’m a bit techy but I also have a passion for great writing and history. In recent years, my profession has allowed me to get to know Asia and its amazing cultures through my visits to Hong Kong, Taiwan, Japan, China, India, and my current abode, Beirut!      

Sumru's book list on individual choices and aggregate phenomena

Sumru Altug Why did Sumru love this book?

I read this wonderful book in the early 2000s when I had returned to Istanbul, Türkiye back from a professional position in the UK.

I was captivated by its description of the flora and fauna of our geography. I recall reading how the beloved chestnut trees of our region had made their way there from China. Braudel is an economic historian who is known to have placed physical and biological nature in the foreground of historical analysis. Thus, according to Braudel, nature is not merely space to be conquered or to be shaped by human desires.

Indeed, the organization of economic life in the Mediterranean was probably shaped by the diversity and difficulty of its geography as much as shaping it, as we argued in our article on Mediterranean business cycles published with Fabio Canova in Open Economies Review in 2013.   

By Fernand Braudel, Sian Reynolds (translator),

Why should I read it?

1 author picked The Mediterranean in the Ancient World as one of their favorite books, and they share why you should read it.

What is this book about?

This general reader's history of the ancient mediterranean combines a thorough grasp of the scholarship of the day with an great historian's gift for imaginative reconstruction and inspired analogy. Extensive notes allow the reader to appreciate thestate of scholarship at the time of writing, the scale and breadth of Braudel's learning and the points where orthodoxy has changed, sometimes vindicating Braudel, sometimes proving him wrong. Above all the book offers us the chance to situate Braudel's mediterranean, born of a lifetime's love and knowledge, more clearly in the climates of the sea's history.


Book cover of An Economic and Social History of the Ottoman Empire

Sumru Altug Author Of Dynamic Macroeconomic Analysis: Theory and Policy in General Equilibrium

From my list on individual choices and aggregate phenomena.

Why am I passionate about this?

I was a very bright little girl growing up in Boston, Massachusetts in the mid-1960s. I passed the entrance exam for Girls’ Latin School in Boston without difficulty and set out for a lifelong journey through many great institutions of higher learning. By the time I was a university student, I knew I wanted to help solve social problems. So, I chose to become an economist. I’m a bit techy but I also have a passion for great writing and history. In recent years, my profession has allowed me to get to know Asia and its amazing cultures through my visits to Hong Kong, Taiwan, Japan, China, India, and my current abode, Beirut!      

Sumru's book list on individual choices and aggregate phenomena

Sumru Altug Why did Sumru love this book?

Living in Istanbul over a long period since 1995 made me want to know its history better.

This book is one of best written and most influential books on the topic describing, as it does, not only the political and military history of the Ottoman Empire but also its economic and social fabric, its ability to innovate in a variety of fields and the reasons behind its rule over six centuries.

My interest in the topic eventually led to an influential publication with the economic historian Şevket Pamuk and our younger colleague Alpay Filiztekin in the European Review of Economic History in 2008 on the sources of economic growth for the region encompassing modern Türkiye between 1880-2005.      

By Halil Inalcik,

Why should I read it?

1 author picked An Economic and Social History of the Ottoman Empire as one of their favorite books, and they share why you should read it.

What is this book about?

This major contribution to Ottoman history is now published in paperback in two volumes: the original single hardback volume (1994) has been widely acclaimed as a landmark in the study of one of the most enduring and influential empires of modern times. The authors provide a richly detailed account of the social and economic history of the Ottoman region, from the origins of the Empire around 1300 to the eve of its destruction during World War One. The breadth of range and the fullness of coverage make these two volumes essential for an understanding of contemporary developments in both the…


Book cover of Payback: Debt and the Shadow Side of Wealth

L. Randall Wray Author Of Making Money Work for Us: How MMT Can Save America

From my list on helping you understand how money really works.

Why am I passionate about this?

I’ve been studying money since the early 1980s, when my dissertation advisor—the late and great Hyman Minsky—warned me not to do “Genesis”, origins stories of money. But I couldn't resist. I'm one of the founders of Modern Money Theory (MMT), an approach developed over the past three decades that has garnered tens of thousands of followers and earned the hatred of the elite. And, yet, those who know how money really works—or who embrace public policy pursuing the public interest (Bernie Sanders, Alexandria Ocasio-Cortez), and even central bankers—have admitted that government cannot run out of money. I’ve written hundreds of academic papers, more blogs, many books, and given hundreds of interviews presenting the MMT alternative.

L.'s book list on helping you understand how money really works

L. Randall Wray Why did L. love this book?

Yes, that Margaret Atwood!

The one whose book, The Handmaids Tale is targeted by book banners. This one is more subversive, covering money from every angle—religious, historical, literary, ecological, and psychological—not limited to the economic perspective. She provides a fascinating dive into money’s nature in five short chapters that transcribe a series of entertaining lectures she gave on Canadian radio.

If you’ve ever wondered why so many words related to money (redemption, debt jubilee, balance) have religious overtones, she explains why. She’ll help you to understand the relationship between Saint Nick, patron saint of thieves and pawnshops, and that other red-suited (and sooted) Old Nick who also keeps track of who’s been naughty. As they say, “time compounds all debts” but “death pays all debts.”  

It is my favorite book on the nether side of money—debt.

By Margaret Atwood,

Why should I read it?

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

What is this book about?

Payback is an intelligent, wide-ranging book that examines the metaphor of debt and the role it takes in our lives. "Debt" is like air - something we take for granted and never think about until things go wrong. This is not a book about debt management or high finance, but about debt as a very old, central motif in religion and literature and also in the structuring of human societies. She looks at the language of debt in the Old Testament - what was 'owed' to God, and why. She then turns to investigate debt as sin in medieval and…


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Book cover of The Origins of Money

L. Randall Wray Author Of Making Money Work for Us: How MMT Can Save America

From my list on helping you understand how money really works.

Why am I passionate about this?

I’ve been studying money since the early 1980s, when my dissertation advisor—the late and great Hyman Minsky—warned me not to do “Genesis”, origins stories of money. But I couldn't resist. I'm one of the founders of Modern Money Theory (MMT), an approach developed over the past three decades that has garnered tens of thousands of followers and earned the hatred of the elite. And, yet, those who know how money really works—or who embrace public policy pursuing the public interest (Bernie Sanders, Alexandria Ocasio-Cortez), and even central bankers—have admitted that government cannot run out of money. I’ve written hundreds of academic papers, more blogs, many books, and given hundreds of interviews presenting the MMT alternative.

L.'s book list on helping you understand how money really works

L. Randall Wray Why did L. love this book?

This is based on a lecture given by Grierson in London in 1970. (Do you see a pattern? Lectures can make entertaining books.)

He was the world’s most famous numismatist (expert on coins). A professor at the University of Cambridge, UK, for seventy years (!), he spent most of his salary collecting medieval coins, donating 20,000 of them to the university’s museum—the world’s premier collection. But coins were invented around 700 B.C., while money has been around for 6000 years.

In this book he speculates on money’s origins (in Babylonian temples)—linking it to the ancient practice of Wergeld (blood money). He hypothesized that money originates as a measure of debt owed to victims. Hence, the link of money to debt and sin made by Atwood. Money is not a “thing” but a record of indebtedness.

Today, it is tax debt that drives money: you work hard to get money to…

By Philip Grierson,

Why should I read it?

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


Book cover of The Case for a Job Guarantee

L. Randall Wray Author Of Making Money Work for Us: How MMT Can Save America

From my list on helping you understand how money really works.

Why am I passionate about this?

I’ve been studying money since the early 1980s, when my dissertation advisor—the late and great Hyman Minsky—warned me not to do “Genesis”, origins stories of money. But I couldn't resist. I'm one of the founders of Modern Money Theory (MMT), an approach developed over the past three decades that has garnered tens of thousands of followers and earned the hatred of the elite. And, yet, those who know how money really works—or who embrace public policy pursuing the public interest (Bernie Sanders, Alexandria Ocasio-Cortez), and even central bankers—have admitted that government cannot run out of money. I’ve written hundreds of academic papers, more blogs, many books, and given hundreds of interviews presenting the MMT alternative.

L.'s book list on helping you understand how money really works

L. Randall Wray Why did L. love this book?

If you find Keynes’s explanation of unemployment depressing, here’s the antidote: another from the home team—Pavlina is a former student and current colleague.

Her solution is a universal job guarantee provided and funded by the Federal government. This isn’t welfare; wages are paid for useful work that promotes the public interest. Unlike private firms, government doesn’t need profits and cannot run out of money (see Kelton’s The Deficit Myth).

Pavlina explains the details: how the government finances the program; why it stabilizes wages and prices so that it cannot be inflationary; how the program will be run; and what kinds of projects will be undertaken.

She provides a clear, concise, detailed examination of policy that will permanently end the scourge of unemployment.

By Pavlina R. Tcherneva,

Why should I read it?

1 author picked The Case for a Job Guarantee as one of their favorite books, and they share why you should read it.

What is this book about?

One of the most enduring ideas in economics is that unemployment is both unavoidable and necessary for the smooth functioning of the economy. This assumption has provided cover for the devastating social and economic costs of job insecurity. It is also false.

In this book, leading expert Pavlina R. Tcherneva challenges us to imagine a world where the phantom of unemployment is banished and anyone who seeks decent, living-wage work can find it - guaranteed. This is the aim of the Job Guarantee proposal: to provide a voluntary employment opportunity in public service to anyone who needs it. Tcherneva enumerates…


Book cover of Milton Friedman on Economics: Selected Papers

Blaine Stewart Author Of Hourglass Socioeconomics: Vol. 1, Principles & Fundamentals

From my list on reads that are almost economics.

Why am I passionate about this?

I'm addicted to discovering what lies within the unknown. The biggest mystery, I believe, that baffles us today is not necessarily what lies at the edge of the universe but what lives within this one here. I enjoy attempting to solve large problems and if I can’t compute a result at least understand what the problem suggests. In the realm of the unknown, I'm an expert of nothing. In hours of research and reading and writing, one comes to a point in their process of learning with the realization that it does not matter how much one learns, there will always be that much more, logarithmically multiplied exponentially by the rate of acceleration, to learn.

Blaine's book list on reads that are almost economics

Blaine Stewart Why did Blaine love this book?

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. 

By Milton Friedman,

Why should I read it?

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

What is this book about?

Upon his death in the autumn of 2006, Milton Friedman was lauded as "the grandmaster of free-market economic theory in the postwar era" by the "New York Times" and "the most influential economist of the second half of the twentieth century" by the "Economist". Winner of the Nobel Prize in Economics in 1976, Friedman was both a highly respected economist and a prominent public intellectual, the leader of a revolution in economic and political thought that argued robustly in favor of the virtues of free markets and laissez-faire policies. "Milton Friedman on Economics" collects a variety of Friedman's papers on…


Book cover of The Battle of Bretton Woods: John Maynard Keynes, Harry Dexter White, and the Making of a New World Order

Alan Bollard Author Of Economists at War: How a Handful of Economists Helped Win and Lose the World Wars

From my list on how economists agree and disagree amongst each other.

Why am I passionate about this?

I am an economics professor at Victoria University of Wellington. As a previous Secretary of the New Zealand Treasury and Governor of the Reserve Bank of New Zealand, I have had quite a bit of experience watching economists’ ideas succeed and fail in the real world. I have written a number of books about policy economists and their lives in peace and wartime. (And a couple of novels too!)

Alan's book list on how economists agree and disagree amongst each other

Alan Bollard Why did Alan love this book?

This is the story of the momentous wartime meetings in New Hampshire that mapped out the new institutions that were to guide the global economy through the Cold War and after: the International Monetary Fund and the World Bank. It is an absorbing intellectual battle between arrogant British aristocratic John Maynard Keynes and the scrappy US Treasury official Harry Dexter White. (Spoiler alert: White won, but spoiled his reputation by likely being a Soviet spy.)

By Benn Steil,

Why should I read it?

1 author picked The Battle of Bretton Woods as one of their favorite books, and they share why you should read it.

What is this book about?

When turmoil strikes world monetary and financial markets, leaders invariably call for 'a new Bretton Woods' to prevent catastrophic economic disorder and defuse political conflict. The name of the remote New Hampshire town where representatives of forty-four nations gathered in July 1944, in the midst of the century's second great war, has become shorthand for enlightened globalization. The actual story surrounding the historic Bretton Woods accords, however, is full of startling drama, intrigue, and rivalry, which are vividly brought to life in Benn Steil's epic account. Upending the conventional wisdom that Bretton Woods was the product of an amiable Anglo-American…


Book cover of The Deficit Myth: Modern Monetary Theory and the Birth of the People's Economy
Book cover of Macroeconomic Theory: Economic Theory, Econometrics and Mathematical Economics
Book cover of The New Classical Macroeconomics

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