Fans pick 100 books like The Mediterranean in the Ancient World

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. 

This choice is obvious and tough.

The book is notoriously difficult. However, it ranks with Darwin’s Origins of the Species, and Einstein’s General Theory of Relativity as among the most important and revolutionary books ever.

It’s no exaggeration to say that Keynes changed everything in the same way that Darwin and Einstein had. It will change the way you see the world if you make the substantial effort. Keynes argues that it is the organization of our economy around money that causes unemployment—not high wages or lazy workers.

Here’s my one sentence summary: firms only hire the number of workers they need to produce the output they expect to sell at a profit. If they cannot make money from hiring you, you are unemployed.

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.     

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.      

Here’s another true story written as a novel, this time an autobiography, which I love. Again, the locations are fantastic,  it’s something of a travelogue, and there’s a strong element of cross-cultural fluidity.

The hero of the book is a Muslim exile from Granada who was brought up in Fez and became an itinerant merchant, journeying through the Sahara and what is now Sudan before settling in Cairo. On his way back to Fez, he was captured by pirates, sent to Rome, converted to Christianity, became a translator and researcher for the Pope, and wrote a description of Africa. Oh, and then he goes back to North Africa and converts back to Islam.

Brilliant!

This travelogue looks at the Mediterranean with dual vision: one ancient eye and one modern. Perrottet retraces the route taken by the wealthy Romans who were, in a sense, the world’s first tourists, living with enough safety and comfort to travel for leisure rather than necessity. He begins in Italy, then the Greek mainland and some island-hopping, makes a necessary stop in Troy, then moves down the Turkish coast and finally into Egypt. In doing so, he provides perspective both on what the Romans would have expected and discovered along the journey as well as what a modern-day traveller would find 2000 years later. The similarities are as surprising as the differences!

The setup of The Rebellious Tide instantly made me want to read it.

A man abandons his pregnant wife, and thirty years later Sebastien, their son, seeks him out, wanting an explanation and revenge. The father is the captain of a luxury liner cruising the Mediterranean, and Sebastien joins the crew to secretly stalk his father to find out what kind of person he is. 

The story is full of mystery and disturbing elements, not to mention fluid sexuality. Ultimately, Sebastien discovers something his father has hidden in the belly of the ship that makes him confront what he’s feared about his own identity. A new twist on a high seas mystery!  

That Most Precious Merchandise offers a much needed and evocatively-written reassessment of the experience of slavery in the late medieval Mediterranean. Tracing the networks of the slave trade from the Black Sea to Genoa, Venice, and Cairo, it argues that the Italian maritime powers and the Mamluk sultanate shared a similar approach to slavery. By re-assessing Black Sea slavery from the vantage point of both Italy and Egypt, Barker discerns commonalities in systems and approaches to slavery across cultures—she calls this a common culture of slavery. She presents as the principal themes of the book a series of conceptions and practices of slavery that cut across confessional and cultural lines, upending a number of fundamental paradigms that have shaped, and limited, the scholarly terrain. 

This was published as three separate novels that tell one coherent story (I. Beat to Quarters, II. Ship of the Line, III. Flying Colours). I spent a lot of time in the Hornblower world as an adolescent, an imaginary reality I sensed wasn't wholly imaginary—The Napoleonic Wars were real—although Hornblower is fictional. But we're all heroes of our own stories. What especially appealed is the portrait of a hero divided between alternating bursts of confident action and moments of intense self-doubt. That accords almost exactly with how I was made to feel as a child, at once supremely able and a second later, consumed by doubt and a sense of inadequacy.

Browsing at Shakespeare and Company in Paris last fall I picked up this book in translation by Guillaume Musso, touted as the ‘French Suspense King.’ Set on an isolated island off the Côte d’Azur, this moody thriller is unpredictable and twisty, as all good mysteries should be. A reclusive author, his strange past, a relentless fan: what could go wrong?