100 books like The Rise and Fall of Economic Justice and Other Essays

How can a society as rich as ours leave so many people behind?

Published in 1958, this book opened my eyes to the importance of economic justice—I first read it in the late 1970s when I was nineteen.

But it is still mind-blowing today, for neither the wrongheadedness of prevailing economic policy nor the solutions that are available for us to do better have changed.

A renowned economist and Harvard professor with a bit of a cult following, Schumpeter provides a realistic evaluation of what capitalism is and whether it can survive if it does not do more to help a wider range of people.

First published in 1942, Schumpeter’s fear was the rise of socialism, but what he had to say about the failings of capitalism back then applies with equal force today.

Schumpeter was the originator of the term “creative destruction” to describe how capitalism works, and Part II of the book was the inspiration for my paper, “Can Liberal Capitalism Survive?”

The book has never been out of print. 

I would have recommended John Maynard Keynes, The General Theory of Employment, Interest, and Money, which is one of the great masterworks of the twentieth century, but reading Keynes himself can be difficult.

Hansen’s book is the best summary available despite being more than 70 years old. And understanding Keynes is essential if you want to understand how certain economic policies continue to lead us astray.

Hard to find, but not impossible. 

Winner of the Nobel Prize for Economics in 1977, Meade was on the moderate left.

He wanted a more just economy but did not advocate jettisoning capitalism. Here he gives his analysis of various economic problems, what causes economic injustice, and how to make this right.

The book can get technical at times, but his analyses and proposed solutions are as relevant today as they were when they were first presented.

Meade’s work was one of the inspirations for John Rawls, A Theory of Justice, the most important work of liberal political philosophy of the twentieth century. 

A key insight of economics is the power of markets to organize human affairs. The Machinery of Freedom takes that insight to the limit. How might society work if even governmental functions were organized using markets? Friedman’s answer will surprise and challenge you. And whether you come away convinced or not, you will come away with a better understanding of markets.

Mariana Candido’s book brings to light the importance of land ownership among West Central Africans, by contesting the work of historians who up to here have basically agreed with the claims of European conquerors and colonizers who stated that West Central African land was plentiful and empty, therefore available to be occupied by the newcomers.

Drawing on detailed archival research, the book also us how West Central African men and women acquired and owned land and movable property. Candido brings to light how West Central African communities were consumers of European and Asian goods, and therefore connected to other parts of the world.

The book shows how men and women in Angola accumulated wealth, and also how during the rise of colonialism they were deprived of this wealth.  

Universal property – property that is inalienable, individual, and belongs in equal measure to all – is a game-changing idea whose time is coming.

Introduced alongside conventional (private and state) property, it can serve the twin goals of reducing inequality and protecting the environment.

For example, by treating the biosphere’s limited capacity to recycle carbon emissions as universal property, and charging for use of this resource, we can both protect climate stability and provide universal basic income via climate-protection dividends.

Peter Barnes has been a leading voice for universal property, following in the footsteps of Tom Paine and Henry George. Do yourself a favor: read this thought-provoking book, and share it with your family and friends.

The French revolutionaries not only transformed property, they disentangled it from public power, creating a distinction between a private realm and a public one and between state and society. Blaufarb shows that at stake was much more and much more complex than historians have thought. He argues that without this multiple demarcation, free elections would have been impossible and universal human rights could not have been defined.    

I make use of the basic concepts that Barzel introduced in this book, but deviate more from conventional neoclassical economics.

Economic property rights are about effective control over resources, and not necessarily about legal rights. A key insight is that a resource consists of an open-ended number of attributes and therefore that control over a resource can become more complex as the number of attributes increases.

There is also a tendency for control to change hands as market participants discover more valuable uses of resources. 

Thomas Piketty rose to international fame for his 2014 Capital in the Twenty-First Century. But this book is even better. At a whopping 1000 pages, it’s a magnum opus. A phenomenally interesting panoramic of inequality across human history.

With intricate detail and voluminous evidence, Piketty documents the rise and fall of inequality throughout the ages, depicting the ways in which ideologies have worked to bolster or undermine it. Anyone who reads this book will walk away with a far richer understanding of some of the core dynamics underlying human history.