Fans pick 100 books like The Science of Wealth

A classical book on anarchy within science. I find the proposed pluralist approach as the right way to avoid the monopolies of truth in present-day science. Feyerabend identified science as an ideology, which I might have found exaggerated and difficult to understand when I started to study science, but I understand it much better now, after 30 years of working as a researcher.

Forgetting about the relativism implicit in his proposal, focusing on the sociological aspect, I think there are many good and brave observations there that can enlighten us.

I was introduced to bell hooks only later in my teaching career—after I had taught for 10 years.

And I read hooks immediately after reading Paulo Freire’s The Pedagogy of the Oppressed. 

This is a book on pedagogy, especially within a classroom with students from diverse social backgrounds. This is the book on critical pedagogy, I would say.

The training of economists will significantly benefit from engaging with the work of hooks.

I first purchased and read this book as a senior undergraduate student not knowing anything about the author.

Little did I know that this book would later play an important role in not only understanding the limitations of mainstream economics but also in providing me with an alternative approach to make sense of our economic surroundings. 

Bharadwaj’s book is truly a classic and one that I always recommend to my students. 

Her book continues to inspire and educate me.

Today, economics is synonymous with measurement.

This book on measurement in economics was published in 1951. Stone discusses the link between theory and empirics in this book.

I like this slim book of Stone’s because it shows the strengths and weakness of empirical exercises in economics. It also raises foundational questions regarding empirical constructs.

Books like this allow us to ask foundational questions regarding the links between theory and empirics in economics as well as theory and applications in statistics.

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.

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.

This highly readable, best-selling book explains how the West’s free-market economies grew rich while others stagnated. (1) The West provided the freedom to innovate in products processes and organizations while other societies resisted these activities. (2) The West’s diffusion of economic power from a centralised political sphere to a decentralized economic sphere was essential in establishing and maintaining this freedom. (3) The West’s market-based institutions allowed successful innovators to earn large gains while unsuccessful innovators and non-innovating firms suffered losses. (4) The growth of Western science nurtured economic growth produced by innovators who were typically well-versed in engineering and Newtonian mechanistic science.

This is a lively and engaging book that bears its learning lightly. That stylistic presentation is coupled with a broad agenda to counter common assumptions and distortions about Smith, with the aim, as Muller himself declares, to recover Smith’s own intentions from subsequent misreadings.

While opinionated it is even-handed, neither bland nor strident. What singles out this book and what I found distinctively insightful was a lengthy discussion of the differing receptions of Smith’s work in the two-hundred years since his death.   

Part of the series meant to cater to “those new to philosophy” while also being “essential reading for those interested in the subject at any level.” It’s a little bit like squaring the circle. But Fleischacker (also the author of an excellent book on Smith’s Wealth of Nations almost twenty years back) manages to do so.

There are two ingredients that make Fleischacker’s latest book such a must-read. First, his ability to synthesize complicated issues (such as what distinguishes Smith’s and Hume’s theories of self-command) in language accessible to motivated laypeople. Second, his outstanding scholarship.

Fleischacker really knows his stuff, as reflected in the richness of the footnotes to each of the chapters. Many of them are little gems and literature reviews of consistently high quality.

I enjoyed reading this book as it provided a deep, and engaging overview of economic theory.

The authors manage to strike a balance between providing a high-level theoretical discussion and making the content accessible to a wider audience. One thing that stood out to me was the authors' emphasis on the diversity of the various schools of economic thought.

In their work, they avoid the common pitfall of suggesting that the history of Economics has “ended”, and instead observe the evolution of economic theory over time. Also, I appreciate the fact that they do not believe that theories in fashion today necessarily provide an adequate explanation for the functioning of the economy.

Overall, I recommend this book to anyone interested in gaining insight into Economics’ controversial development.