Fans pick 97 books like The Road to Serfdom

Even though Adam Smith is often said to be the father of all that is good or bad about capitalism very few people have read his famous Wealth of Nations. Why? Well, 1) they think they already know what’s in it: no government intervention in the economy, thank you. 2) It is two volumes. 3) It must be very dreary because it is about economics, and 4) they are not good at economics or math.  

But read it for yourself, and you will find that it is readable, nuanced, and you can skip the bits that you can’t make out, enjoy the examples, and decide for yourself what he actually argued and whether you agree with it or not.

Capitalism and Freedom is the greatest exposition of the consequential case for libertarianism. In other words, Milton Friedman’s case for libertarian policies rests not on moral assumptions or “natural” rights but on showing that capitalism is important because it has positive consequences – it enables human prosperity and flourishment.

Perhaps as importantly, Capitalism and Freedom shows that economic freedom is a necessary condition not just for economic prosperity but for personal and political freedom. Thus, free markets are not only compatible with democracy (contra what many people claim), but a necessary condition for protecting democracy and personal freedoms.

This book’s outlook is probably the closest to the one articulated in my book. It is also the most recent one on the list, making it an easy read.

Bastiat was a 19th-century French economist, writer, and politician. Economic Sophisms is a collection of short and enjoyable essays illustrating the case for free trade and attacking some economic misconceptions. Many of the essays’ themes and arguments are relevant today, and Bastiat’s critiques of big government are often witty.

In one essay, Bastiat presents a “candlemakers petition” to the parliament for protection against the unfair competition of sunlight, which was flooding the market with a superior product at virtually zero price. Modern critiques of zero price “monopolists” (e.g., Facebook or Google) should take note!

In What is Seen and Not Seen Bastiat introduces the “parable of the broken window” to show that economic resources are fundamentally scarce: resources expended on one activity are not available for others. Centuries later, many policymakers are yet to grasp this insight.

Locke’s Second Treatise on Government is the first book to present a coherent liberal theory of the State. Many of its core ideas are now common-sense: that the legitimate end of government is to preserve and enlarge the freedom of its subjects; that sovereigns should be held accountable to the law; and that individuals have a natural right to life, liberty, and property even in the absence of government.

This is a short and readable book that reminds us how much the liberal tradition initiated by Locke is, at least rhetorically, embedded in much of contemporary discourse on democracy and politics.

This book is also of paramount importance to libertarians because it presents one of the first articulated arguments for private property as a means to create wealth.

In a time when industrial policy is no longer taboo, even in the West, I would recommend this book to remember the pivotal role that state policies play in promoting development.

More than being the result of self-made people, crucial innovations like the smartphone result from the research backbone that the state provides.

The book is, therefore, thought-provoking as it debunks myths of state decline during the so-called neoliberal age, although recognises that private firms have acquired excessive power.

The authors of this book were stalwarts of The Economist for many years. They bring to this book all their considerable powers as writers and analysts of contemporary politics and economics. Again, this book was a major source of inspiration for my own book. After discussing prior revolutions in the scale and scope of the state over the last two centuries, The Fourth Revolution argues that: 1) reform of the state is essential, and 2) this reform is possible because it is already happening all over the world thanks to new technology. This book, therefore, served for me as the launching point for my own book which looks at a great number of these actual changes in governments around the world that are taking place on the back of new technologies and forms of organization. 

The author of this book, Aneesh Chopra, became the first chief technology officer of the United States government in 2009. Prior to that, he was the Secretary of Technology for Virginia and managing director for a health care think tank. As CTO for the US government, Chopra led the administration’s attempts to create a more open, tech-savvy government. In this book, he draws on his experience and interviews with policy experts and tech insiders to show how government can establish a new paradigm for the internet era, one that allows us to tackle the most challenging problems, from economic development to veteran affairs. Once again, it was a source of inspiration for me. My own book extends his discussion of the US federal government to the state and city level, as well as looks at many other countries around the world, both developed and developing.

I recently attended the 10-year Reinventing Organizations anniversary party over Zoom, which attracted hundreds of people from around the world. Many quit their jobs after reading Frederic Laloux’s book to help build a new market for a radically different approach to management consulting.

The unassuming former McKinsey consultant became a household name in business circles when his surprise bestseller challenged conventional ways of working. His premise is bold: we are entering a new stage of human consciousness that demands a rethink of how we organize work. Moving away from traditional command-and-control hierarchies formed during the Industrial Revolution, Laloux showcases case studies of organizations where everyone is encouraged to operate like an entrepreneur and contribute meaningfully.

In this engaging read, Laloux distills complex ideas effortlessly, inspiring readers to reimagine what’s possible for themselves and their teams. Reinventing Organizations is not your typical business book. A decade later, its insights remain fresh,… show more.

Can ideas change the world? How does belief in political equality—the idea that everyone deserves basic unbridgeable liberties—affect innovation and economic development?

Dierdre McCloskey—one of the most creative and interesting economists alive—takes on these topics and much more in her characteristically witty, fast-paced style. She loves describing and refuting bad ideas—or even ideas widely regarded as brilliant—in an effort to go deeper into the forces that lifted humans out of poverty and sustain innovation to this day.

Tomasi offers a new synthesis of Rawlsian high liberalism and market-oriented libertarianism, which he calls "market democracy." It treats capitalistic economic freedoms as crucial elements of liberty, but demands that institutions be designed so that their benefits are shared by the least fortunate citizens. His central focus is the value of entrepreneurial activity as a moral ideal. I have a lot of disagreements with this book, but without its smart provocations I might not have written my own.