Here are 100 books that The World Economy fans have personally recommended if you like
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I was always interested in American history and studied at Brown University under an outstanding professor of American economic history, James Blaine Hedges. During my career at the mutual fund association I often approached issues from an historical perspective. For example: Why did Congress draft legislation in a particular way? How would past events likely affect a regulator’s decisions today? As a lawyer I had been trained to write carefully and precisely. As a lobbyist I learned the need to pre
The book does an outstanding job in describing the people and events that produced the October 1929 stock market crash in a highly entertaining style. Galbraith wrote more like a witty and insightful journalist than the award-winning economist that he was. This is a must-read for anyone who wants to learn about American financial history. The book is a model for writers who want to educate non-experts about public policy issues.
'One of the most engrossing books I have ever read' Daily Telegraph
John Kenneth Galbraith's now-classic account of the 1929 stock market collapse remains the definitive book on the most disastrous cycle of boom and bust in modern times.
Vividly depicting the causes, effects, aftermath and long-term consequences of financial meltdown, Galbraith also describes the people and the corporations who were affected by the catastrophe. With its depiction of the 'gold-rush fantasy' ingrained in America's psychology, The Great Crash 1929 remains a penetrating study of human greed and folly.
The Spirit of Capitalism: Nationalism and Economic Growth is the second volume of my nationalism trilogy. When I published the first volume,Nationalism: Five Roads to Modernity, the accepted view on the subject of nationalism was that it is a product of economic development, specifically, of industrialization and capitalism. On the basis of historical evidence, I proved that its emergence had nothing to do with these economic phenomena: in fact, it preceded both. Reviews of Nationalism, noting that, for this reason, economic developments could not have caused nationalism, raised the question what relationship, then, did exist between nationalism and the economy, and this led me to investigate it.
The Wealth of Nations is the foundational text of modern economics, reflecting – contrary to the common notion – the clearly national consciousness of its author and demonstrating that modern economic imagination (and activity) is a product of nationalism.
Its nationalist inspiration is the main reason I recommend reading it, for the commonplace interpretations of this classic miss this most interesting aspect of the work. In addition, it is a delightful text.
First published in 1776, the year in which the American Revolution officially began, Smith’s Wealth of Nations sparked a revolution of its own. In it Smith analyzes the major elements of political economy, from market pricing and the division of labor to monetary, tax, trade, and other government policies that affect economic behavior. Throughout he offers seminal arguments for free trade, free markets, and limited government.
Criticizing mercantilists who sought to use the state to increase their nations’ supply of precious metals, Smith points out that a nation’s wealth should be measured by the well-being of its people. Prosperity in…
I grew up listening to my grandfathers tell stories about the Great Depression (1930s). My cousins would want me to go out and play, but I wanted to stay indoors and listen to the stories. The Depression proved my grandfathers were not the best cotton farmers, but they were good storytellers, and I ended up an economics professor. Along the way, I ran across a thought from renowned British philosopher Francis Bacon: “Histories make men wise, poets, witty, mathematics, subtle;” Modern economics has gone in for subtlety, and maybe is a little too careless of wisdom. This thought sent me delving deeper into economic history, and I ended up writing five books in economics history.
Here is a stimulating and suggestive book, in 18 close-packed chapters, rich in fresh and illuminating insights. The scope, depth, and harmony of this book, strengthened with minute elaboration and carefulness, make it a work of permanent value. Missed here is the dogmatic readiness to force many intricate and diverse things to accommodate themselves to a few simple formulas. The book’s very descriptive title reveals its subject, which is presented with the utmost clearness, thoughtful intelligence, and adequacy of analysis, It is a welcomed reminder that time is the greatest innovator, spawning economic developments missed by the blind mechanisms of theoretical formulas. There is the accuracy of knowledge throughout, thoroughness in setting it forth, and admirable clearness.
In the century after the Civil War, an economic revolution improved the American standard of living in ways previously unimaginable. Electric lighting, indoor plumbing, motor vehicles, air travel, and television transformed households and workplaces. But has that era of unprecedented growth come to an end? Weaving together a vivid narrative, historical anecdotes, and economic analysis, The Rise and Fall of American Growth challenges the view that economic growth will continue unabated, and demonstrates that the life-altering scale of innovations between 1870 and 1970 cannot be repeated. Gordon contends that the nation's productivity growth will be further held back by the…
I grew up listening to my grandfathers tell stories about the Great Depression (1930s). My cousins would want me to go out and play, but I wanted to stay indoors and listen to the stories. The Depression proved my grandfathers were not the best cotton farmers, but they were good storytellers, and I ended up an economics professor. Along the way, I ran across a thought from renowned British philosopher Francis Bacon: “Histories make men wise, poets, witty, mathematics, subtle;” Modern economics has gone in for subtlety, and maybe is a little too careless of wisdom. This thought sent me delving deeper into economic history, and I ended up writing five books in economics history.
This book is perhaps one of the best-kept secrets in economics, overshadowed by Keynes’ more path-breaking General Theory, but oozing with wisdom on every page. Here Keynes transcends the bounds of economics. In his words: “It is one of the objects of this book to urge that the best way to cure this mortal disease of individualism is to provide there shall never exist any confident expectation either that prices are generally going to fall or that they are going to rise; and also that there shall be no serious risk that a movement, if it does occur, will be a big one.” Of course, inflation is the subject here. Its writing style alone elevates it above the commonplace. In this book, the reader finds the balance of practical judgment found in the best economists.
This book, is devoted to the need for stable currency as the essential foundation of a healthy world economy. Describing the various effects of unstable currency on investors, business people, and wage earners, Keynes recommends the implementation of policies that aim at achieving stability of the commodity value of the dollar rather than the gold value. Keynes's brilliant, clear analysis of the world monetary situation at the beginning of the twentieth century, with his many suggestions and his masterful elucidation of economic principles, stands as a vital primer for anyone interested in developing a better understanding of basic economics and…
Since completing my PhD in political economy (dissertation: ‘International Integration and Foreign Policy Decision-making’) I have gone deeper into economic origins of change (eg. Modern Inflation, coauthored with well-known economist Wilhelm Hankel in Bologna, Italy at Johns Hopkins SAIS) and find the interactions between economic, politics, and psychology fascinating—presenting an infinite number of ‘Sherlock Holmes-like puzzles’. We are all now confronted with political, economic, and psychological uncertainties, put on high speed due to the war in Ukraine and great power tensions. So it is time to learn about the origins of our problems and their trends in order to better cope and find a basis for individual, if not collective, peace.
‘Dr. Doom’ (he prefers ‘Dr. Realist’) gives a lucid summary of major threats confronting the global economy and possible policy changes to alleviate them.
This book is well written and hits the nails all on the head with his diagnosis and possible corrective policies. HisYouTube interview on his book is brilliant, so I need not say more.
Accurate and precise forecasting is essential for successful planning and policy from economics to epidemiology. We have been keen to understand why so many forecasts turn out to be highly inaccurate since making dreadful forecasts ourselves, and advising UK government agencies (Treasury, Parliament, Bank of England) during turbulent periods. As simple extrapolation often beats model-based forecasting, we have been developing improved methods that draw on the best aspects of both, and have published more than 60 articles and 6 books attracting more than 6000 citations by other scholars. Our recommended books cover a wide range of forecasting methods—suggesting there is no optimal way to look into the future.
This is a book that brings forecasters down to earth with a bang – we are not all super-forecasters! There is no magic involved in forecasting – seeing into the future is impossible. But Tetlock and Gardner show that good decision-making should be based on a set of guidelines that can be adapted to any situation. The writing is slick, given one of the authors is a science journalist, and it provides salutary reading for any would be practical forecaster.
'A manual for thinking clearly in an uncertain world. Read it.' Daniel Kahneman, author of Thinking, Fast and Slow _________________________ What if we could improve our ability to predict the future?
Everything we do involves forecasts about how the future will unfold. Whether buying a new house or changing job, designing a new product or getting married, our decisions are governed by implicit predictions of how things are likely to turn out. The problem is, we're not very good at it.
In a landmark, twenty-year study, Wharton professor Philip Tetlock showed that the average expert was only…
I started my career as a research scientist building machine learning algorithms for weather forecasting. Twenty years later, I found myself at a precision agriculture startup creating models that provided guidance to farmers on when to plant, what to plant, etc. So, I am part of the movement from academia to industry. Now, at Google Cloud, my team builds cross-industry solutions and I see firsthand what our customers need in their data science teams. This set of books is what I suggest when a CTO asks how to upskill their workforce, or when a graduate student asks me how to break into the industry.
As a data scientist in the industry, it is very helpful to understand the business context behind the problems that you are solving. In many cases, you are trying to predict behavior—who is likely to buy an item, who is likely to click on a link, who is likely to repay a loan, etc.
This book by Eric Siegel is a great introduction to predictive analytics as used in real-life. It will help you frame data science problems in standard ways. For example, suppose you are asked to score sales leads so that salespeople can prioritize their efforts. How would you do it? The common way to frame this problem is to predict the customer lifetime value (LTV) of every sales lead. Before you can do prediction, you have to be able to do analysis though.
The way you estimate the LTV is to break the problem into three sub-problems:…
"The Freakonomics of big data." -Stein Kretsinger, founding executive of Advertising.com
Award-winning | Used by over 30 universities | Translated into 9 languages
An introduction for everyone. In this rich, fascinating - surprisingly accessible - introduction, leading expert Eric Siegel reveals how predictive analytics (aka machine learning) works, and how it affects everyone every day. Rather than a "how to" for hands-on techies, the book serves lay readers and experts alike by covering new case studies and the latest state-of-the-art techniques.
Prediction is booming. It reinvents industries and runs the world. Companies, governments, law…
I'm Somi Arian, a tech philosopher, award-winning filmmaker, author, LinkedIn-Top-Voice, and the founder of InPeak, a Web3 education and professional networking platform. My background in Philosophy of Science and Technology informs my role in society as a 'Transition Architect.' My documentary, The Millennial Disruption, featuring industry leaders, won three international awards. My book, Career Fear (and how to beat it), addresses the future of work and the skills we all need to survive and thrive in the age of Artificial Intelligence and Blockchain. As a speaker, I give talks and workshops internationally on the impact of technology on society, the business landscape, the future of work, Web3, NFTs, the Metaverse, and blockchain technology.
This book is a prescient and compelling analysis of the challenges and opportunities presented by the transition from an industrial to an information-based society.
The authors, who have a track record of accurately predicting global political and economic trends, explore the shift towards a new era of individualized power, as governments lose their grip on commerce and society becomes more democratized.
They offer practical strategies for adapting financially to this new reality, emphasizing the importance of cultivating two skillsets in depth and becoming the best in your field to capitalize on the growing trend of personalized, online work.
The book covers a range of topics, including the mega political transformations in historic perspective, the sophistication of violence in the agricultural revolution, and the emergence of the cyber economy. It also delves into the impact of the information age on the global economy, government, and society, and explores the potential for…
Two renowned investment advisors and authors of the bestseller The Great Reckoning bring to light both currents of disaster and the potential for prosperity and renewal in the face of radical changes in human history as we move into the next century.
The Sovereign Individual details strategies necessary for adapting financially to the next phase of Western civilization.
Few observers of the late twentieth century have their fingers so presciently on the pulse of the global political and economic realignment ushering in the new millennium as do James Dale Davidson and Lord William Rees-Mogg. Their bold prediction of disaster on…
I found my passion for sustainable mobility while working on my PhD thesis about electric cars at a time when no one was interested in electric cars. I am fascinated by the disruptive forces in the transportation space. With my long-term work experience in management consulting, corporate, academics, and startups, I’m trying to make a contribution to making transport carbon-free.
This book shows how the future of our planet will be decided in Asia. It teaches us that when we aim to tackle climate change with impactful measures, it is not about America or Europe but about Asia.
With its tremendous size and growth in population, Asia will be the dominant continent in the world and therefore be key to solving the climate crisis.
Five billion people, two-thirds of the world's mega-cities, one-third of the global economy, two-thirds of global economic growth, thirty of the Fortune 100, six of the ten largest banks, eight of the ten largest armies, five nuclear powers, massive technological innovation, the newest crop of top-ranked universities. Asia is also the world's most ethnically, linguistically and culturally diverse region of the planet, eluding any remotely meaningful generalization beyond the geographic label itself. Even for Asians, Asia is dizzying to navigate.
Whether you gauge by demography, geography, economy or any other metric, Asia is already the present - and it is…
Accurate and precise forecasting is essential for successful planning and policy from economics to epidemiology. We have been keen to understand why so many forecasts turn out to be highly inaccurate since making dreadful forecasts ourselves, and advising UK government agencies (Treasury, Parliament, Bank of England) during turbulent periods. As simple extrapolation often beats model-based forecasting, we have been developing improved methods that draw on the best aspects of both, and have published more than 60 articles and 6 books attracting more than 6000 citations by other scholars. Our recommended books cover a wide range of forecasting methods—suggesting there is no optimal way to look into the future.
This is a readable tale of the rise of economic forecasters in the USA during the boom years of the 1920s, and their demise after failing to forecast the `Great Crash of 1929’ and ensuing Great Depression. Roger Babson did forewarn of a crash, but also failed after wrongly repeatedly forecasting an imminent recovery in the early 1930s. It holds many relevant lessons for our turbulent times, emphasizing that the future is always highly uncertain.
The period leading up to the Great Depression witnessed the rise of the economic forecasters, pioneers who sought to use the tools of science to predict the future, with the aim of profiting from their forecasts. This book chronicles the lives and careers of the men who defined this first wave of economic fortune tellers, men such as Roger Babson, Irving Fisher, John Moody, C. J. Bullock, and Warren Persons. They competed to sell their distinctive methods of prediction to investors and businesses, and thrived in the boom years that followed World War I. Yet, almost to a man, they…
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