The most recommended books about John Maynard Keynes

Who picked these books? Meet our 18 experts.

18 authors created a book list connected to Keynes, and here are their favorite Keynes books.
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Book cover of The Money Illusion

Helena Chytilová Author Of Economic Literacy and Money Illusion: An Experimental Perspective

From my list on economic reads about money illusion.

Why am I passionate about this?

I am associate professor at Prague University of Economics and Business. My passion is to discover blank spaces in the economy, for which standard mainstream economic models have not provided answers yet. I was usually fascinated by biased behavior of individuals, which might lead to substantial implications at aggregate level. This has led me to narrow my focus on behavioral macroeconomics with special emphasis on monetary theory and policy, vibrant field with a great potential. After all, experimental economics seems to be a wonderful tool to examine phenomena, which is hard to grasp or for which there is no available data, such as money illusion, coordination failure, bank runs or Modigliani-Cohn hypothesis. 

Helena's book list on economic reads about money illusion

Helena Chytilová Why did Helena love this book?

Similarly, like John Maynard Keynes is considered to be “father of macroeconomics”, Irving Fisher is considered to be “father of money illusion”, which is a failure to perceive that the dollar expands or shrinks in value.

Although this book is older, it is highly topical for me, because of the rapid development of behavioral macroeconomics, which brings back attention to the resurrected concept of money illusion.

Fisher remarkably demonstrates, with the help of illustrative examples, direct harm which might be experienced in real life by people who suffer from money illusion in financial markets or labor markets. Fisher uses persuasive case studies based on his own observations. 

He also utilizes money illusion and its indirect harms in order to explain the nature of the business cycle, in which case money is not neutral in the short run.

By Irving Fisher,

Why should I read it?

1 author picked The Money Illusion as one of their favorite books, and they share why you should read it.

What is this book about?

2011 reprint of 1928 edition. Full facsimile of the original edition, not reproduced with Optical Recognition Software. In economics, money illusion refers to the tendency of people to think of currency in nominal, rather than real, terms. This is a fallacy as modern fiat currencies have no inherent value and their real value is derived from their ability to be exchanged for goods and used for payment of taxes. The term was coined by John Maynard Keynes in the early twentieth century, and Irving Fisher 1928 book, The Money Illusion, is one of the most important works on the subject.


Book cover of Human Action

Caleb S. Fuller Author Of No Free Lunch: Six Economic Lies You've Been Taught And Probably Believe

From my list on the economic point of view.

Why am I passionate about this?

I’m an associate professor of economics at Grove City College, where I love introducing students to the economic point of view. My first book, listed below, pursues the relentless logic of tradeoffs. My second book (co-authored with Art Carden), Mere Economics: Lessons for and from the Ordinary Business of Life, is due out in early 2025. It examines how human beings expand their options through cooperation. For me, internalizing the economic point of view is a lifelong project. I think it will become yours, too, if you try these books! 

Caleb's book list on the economic point of view

Caleb S. Fuller Why did Caleb love this book?

The greatest book ever written in economics isn’t Adam Smith’s The Wealth of Nations, Karl Marx’s Das Kapital, or John Maynard Keynes’ The General Theory, but this book by Ludwig von Mises. If you only ever read one book in economics, make it this one—even if it takes five years to traverse. You’ll be digesting the insights for a lifetime.

Everything is here. How we ought to think about economics. How we can most fruitfully analyze society. How can humans live better together than they could apart? What makes some societies rich and others poor? Mises originally thought of calling the book “Social Cooperation,” two words that deftly capture the essence of this 800+ page treatise. 

By Ludwig von Mises,

Why should I read it?

1 author picked Human Action as one of their favorite books, and they share why you should read it.

What is this book about?

The great book first appeared in German in 1940 and then disappeared, only to reappear in English in 1949. It was a sensation, the largest and most scientific defense of human freedom ever published. And now, in 2010, the seemingly impossible has happened: Human Action, the masterwork of the ages, is in a pocketbook edition at a ridiculously low price.

History might record that this edition is the one that changed the world. Mises's fantastic and timeless treatise has never been in a more portable, giftable edition.

Just imagine: giving or receiving this gem, this treasure, as a stocking stuffer!…


Book cover of The Economic Consequences of the Peace

Alan Bollard Author Of Economists in the Cold War: How a Handful of Economists Fought the Battle of Ideas

From Alan's 3 favorite reads in 2023.

Why am I passionate about this?

Author Historian Spy-reader Writer Professor Biker

Alan's 3 favorite reads in 2023

Alan Bollard Why did Alan love this book?

I don’t know that I exactly ‘loved’ this book, more that I was endlessly impressed and intrigued by it.

Just after World War I, Keynes was part of the British team negotiating reparations at the Versailles Peace Treaty. He was so angry about the way the Allies were insisting on punitive penalties on the defeated Germans that were far more than that country could ever pay, that he resigned in protest, stormed off to his friends in the Bloomsbury Group who owned a house in the country, and in six weeks wrote this bitter yet very readable polemic.

He was rude about all the Great Power leaders, and his forecasts that the Germans would pay almost nothing, and build resentments that would lead to political strife turned out to be tragically accurate. The book sold 100,000 copies in 12 languages in the first 6 months, changed the way the League…

By John Maynard Keynes,

Why should I read it?

1 author picked The Economic Consequences of the Peace as one of their favorite books, and they share why you should read it.

What is this book about?

The Economic Consequences of the Peace by John Maynard Keynes - The power to become habituated to his surroundings is a marked characteristic of mankind. Very few of us realize with conviction the intensely unusual, unstable, complicated, unreliable, temporary nature of the economic organization by which Western Europe has lived for the last half century. We assume some of the most peculiar and temporary of our late advantages as natural, permanent, and to be depended on, and we lay our plans accordingly. On this sandy and false foundation we scheme for social improvement and dress our political platforms, pursue our…


Book cover of In Search of the Good Life: The Ethics of Globalization

Scott Waalkes Author Of The Fullness of Time in a Flat World

From my list on the religious ethics of globalization.

Why am I passionate about this?

My plan to write my book clicked after I bought an apple grown in New Zealand, 10,000 miles away from my home in Ohio. How did it make sense that we could buy apples so cheaply from so far away? What was the carbon footprint of that one transaction? Growing up in Michigan in the 1970s and 1980s, I had seen our industrial cities decay as trade globalized. Later I watched with horror as global financial markets crashed in 2008. With these experiences in mind, I wanted to write about both the benefits and the costs of globalization—and about its ethicsfor religious communities like mine. So I did.  

Scott's book list on the religious ethics of globalization

Scott Waalkes Why did Scott love this book?

Professor Peters was my first and foremost guide when it came to framing the ethics of globalization from within my own religious perspective.

She helped all of us later writers by mapping the academic terrain, describing two dominant theories of globalization and two resistance theories. The two dominant theories are neoliberalism (as exemplified by Thomas Friedman) and reformist social development (as exemplified by John Maynard Keynes), while the two resistance theories stem from ecological and postcolonial perspectives.

She evaluates all four theories according to how they contribute (or don’t) to human flourishing. While I don’t always agree with her conclusions, she is asking the right questions and applying them to the most important perspectives on globalization.

By Rebecca Todd Peters,

Why should I read it?

1 author picked In Search of the Good Life as one of their favorite books, and they share why you should read it.

What is this book about?

Rebecca Todd Peters provides a helpful overview of the complicated contemporary debates about globalization. By engaging in a careful reading of the cacophony of views on the subject, she unearths four identifiable positions within these debates, each offering a different moral vision of the world. As she observes, policy debates about the direction in which globalization should move are morally serious debates about what values humanity will choose as most significant in the post-Cold War world. In Search of the Good Life argues that our moral task is to ensure that globalization proceeds in ways that honour creation and life,…


Book cover of How Much Is Enough?: Money and the Good Life

Emrys Westacott Author Of The Wisdom of Frugality: Why Less Is More - More or Less

From my list on simple living and the good life.

Why am I passionate about this?

I am a philosopher who is especially interested in relating philosophy to everyday life. So I like to ask–and try to answer– questions such as: Why is frugality considered a moral virtue? Are there times when rudeness is justified? What makes some kinds of work shameful? I earned my Ph.D. in philosophy from the University of Texas at Austin and am currently a Professor of Philosophy at Alfred University in Alfred, New York.

Emrys' book list on simple living and the good life

Emrys Westacott Why did Emrys love this book?

Philosophies of simple living are often addressed primarily to the individuals who is seeking happiness. This is largely true, for instance, of both Epicureanism and Stoicism. How Much Is Enough? shows how the questions raised by such philosophies also bear on the economic policies and political culture of rich, modernized societies. The basic argument of the book is that it is foolish for these societies to strive for endless economic growth. They are already wealthy enough to provide the basic conditions of the good life for all their citizens, including a radical reduction in the hours that people need to work. But this isn't happening because capitalism continually inflames people's misguided desire for more stuff and higher status. So the machine just keeps on pointlessly creating desires while plutocrats keep creaming off the wealth of society which could otherwise be distributed more equitably and more rationally. The book offers a…

By Robert Skidelsky, Edward Skidelsky,

Why should I read it?

1 author picked How Much Is Enough? as one of their favorite books, and they share why you should read it.

What is this book about?

A provocative and timely call for a moral approach to economics, drawing on philosophers, political theorists, writers, and economists from Aristotle to Marx to Keynes

   What constitutes the good life? What is the true value of money? Why
do we work such long hours merely to acquire greater wealth? These
are some of the questions that many asked themselves when the
financial system crashed in 2008. This book tackles such questions
head-on.  
   The authors begin with the great economist John Maynard Keynes.
In 1930 Keynes predicted that, within a century, per capita income
would steadily rise, people’s basic needs would…


Book cover of Small Is Beautiful: Economics as If People Mattered

Ray Cunningham Author Of The Post-Growth Project: How the End of Economic Growth Could Bring a Fairer and Happier Society

From my list on our fatal addiction to economic growth.

Why am I passionate about this?

In my career, I managed research into how the problems of modern industrial society are tackled in different countries. This reflected my own comparative instinct, which arose out of growing up bilingual and at home in two cultures. My journey into politics, sociology, and economics made me increasingly aware of the blindness of our social arrangements to the growing ecological crisis – and of how this blindness is perpetuated by the narrow silos of our political and academic systems. Our only hope now lies with thinkers who can escape those silos and integrate different perspectives into a holistic understanding. We don’t need more specialists, but generalists. Fewer economists, more moral philosophers. 

Ray's book list on our fatal addiction to economic growth

Ray Cunningham Why did Ray love this book?

The book that gave birth to the slogan... This is an iconoclastic look at the capitalist economy from a man who trained as an academic economist and worked for the National Coal Board. Schumacher thought creatively and wrote and spoke in a lively and engaging way and the book is an accessible introduction to a different way of thinking about what the purpose of an economy, or economics, is.

Also, Schumacher was invited to become the first Director of the Anglo-German Foundation for the Study of Industrial Society, but felt that he was already too old for the job. Many years later, I became the Foundation’s last Director.

By E.F. Schumacher,

Why should I read it?

3 authors picked Small Is Beautiful as one of their favorite books, and they share why you should read it.

What is this book about?

This New York Times bestselling “Eco Bible” (Time magazine) teaches us that economic growth must be responsibly balanced with the needs of communities and the environment.

“Embracing what Schumacher stood for--above all the idea of sensible scale--is the task for our time. Small is Beautiful could not be more relevant. It was first published in 1973, but it was written for our time.” — Bill McKibben, from the Foreword

Small Is Beautiful is Oxford-trained economist E. F. Schumacher’s classic call for the end of excessive consumption. Schumacher inspired such movements as “Buy Locally” and “Fair Trade,” while voicing strong opposition…


Book cover of John Maynard Keynes: 1883-1946: Economist, Philosopher, Statesman

Erwin Dekker Author Of The Viennese Students of Civilization: The Meaning and Context of Austrian Economics Reconsidered

From my list on cultural knowledge to understand the economy.

Why am I passionate about this?

I am a historian and economist who is fascinated by the intersection of the economy and culture. This started for me with the idea that economic ideas were shaped by the cultural context in which they emerged, which resulted in my book on the Viennese Students. Over time it has expanded to an interest for the markets for the arts from music to the visual arts, as well as the way in which culture and morality influence economic dynamism. Economics and the humanities are frequently believed to be at odds with each other, but I hope to inspire a meaningful conversation between them.

Erwin's book list on cultural knowledge to understand the economy

Erwin Dekker Why did Erwin love this book?

Biographies of economists can be dull and technical, but not if their subject is John Maynard Keynes. The flamboyant British economist was a member of the Bloomsbury Group of Virginia Woolf and E.M. Forster, married the famous Russian ballerina Lydia Lopokova, and had a group of followers known as the Cambridge circus. The great skill of Skidelsky is his ability to integrate the many facets of Keynes life, from the exciting intellectual milieu of Cambridge and the cultural milieu in London to the economic problems of war, peace, and the Great Depression. This book demonstrates in vivid terms that economics is done by economists with an underlying vision. In Schumpeter’s words that of Keynes was that of: “the arteriosclerotic economy whose opportunities for rejuvenating venture were in permanent decline.”

By Robert Skidelsky,

Why should I read it?

1 author picked John Maynard Keynes as one of their favorite books, and they share why you should read it.

What is this book about?

THE DEFINITIVE SINGLE-VOLUME BIOGRAPHY

Robert Skidelsky's three-volume biography of John Maynard Keynes has been acclaimed as the authoritative account of the great economist-statesman's life. Here, Skidelsky has revised and abridged his magnum opus into one definitive book, which examines in its entirety the intellectual and ideological journey that led an extraordinarily gifted young man to concern himself with the practical problems of an age overshadowed by war. John Maynard Keynes offers a sympathetic account of the life of a passionate visionary and an invaluable insight into the economic philosophy that still remains at the centre of political and economic thought.…


Book cover of The Worldly Philosophers: The Lives, Times And Ideas Of The Great Economic Thinkers

Panayotis G. Michaelides Author Of History of Economic Ideas: From Adam Smith to Paul Krugman

From my list on the evolution of economics.

Why am I passionate about this?

I am a Full Professor and Lab Director in Economics. My interest in this field began when I traveled abroad and observed the differences in prices, goods, and quality of life. In order to gain a deeper understanding, I decided to switch from my previous academic background in Engineering, Mathematics & Physics to Economics, Finance & Data Science. Today, I am dedicated to expanding my knowledge and sharing my insights through teaching, academic publications, and LinkedIn posts. According to the latest rankings, I am humbled to be among the top 3% most productive economists worldwide (IDEAS-RePec, 2023), as well as being ranked among the top 4% researchers in Financial Economics, and the top 5% in Econometrics (Researchgate, 2023).

Panayotis' book list on the evolution of economics

Panayotis G. Michaelides Why did Panayotis love this book?

Are you looking for a good introduction to Economics?

Then, as I did, start with a brilliant survey of the main thinkers, who have shaped our understanding of the economic system. These economists’ thoughts ranged from addressing how to improve the quality of life for all, to understanding the source of value and the functioning of the economy.

Although they were not always accurate, their influence on contemporary Economics is tremendous, and Heilbroner's writing style will captivate you. I recommend this book to all of my students and colleagues.

In fact, after reading this book during my University studies, I became inspired to study Economics in depth and engage in scholarly research. Even switched from Engineering, Mathematics, and Physics to Economics, Finance, and Data Science.

Book cover of A Guide to Keynes

Mark R. Reiff Author Of On Unemployment: A Micro-Theory of Economic Justice: Volume 1

From my list on what causes economic injustice.

Why am I passionate about this?

F. Scott Fitzgerald claimed, “there are no second acts in American lives.” But I am on my third. I started out in the theatre, then became a lawyer, and then a political philosopher. What drove each move is that I was always outraged by injustice and wanted to find a better way to fight against it. For me, reading, writing, and teaching political philosophy turned out to be that way. The books on this list provide important lessons on how certain economic policies can cause injustice while others can cure it. Each has been around for a long time, but they are as relevant today as when they were first written. 

Mark's book list on what causes economic injustice

Mark R. Reiff Why did Mark love this book?

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. 

By Alvin H. Hansen,

Why should I read it?

1 author picked A Guide to Keynes as one of their favorite books, and they share why you should read it.


Book cover of The Battle of Bretton Woods: John Maynard Keynes, Harry Dexter White, and the Making of a New World Order

Alan Bollard Author Of Economists at War: How a Handful of Economists Helped Win and Lose the World Wars

From my list on how economists agree and disagree amongst each other.

Why am I passionate about this?

I am an economics professor at Victoria University of Wellington. As a previous Secretary of the New Zealand Treasury and Governor of the Reserve Bank of New Zealand, I have had quite a bit of experience watching economists’ ideas succeed and fail in the real world. I have written a number of books about policy economists and their lives in peace and wartime. (And a couple of novels too!)

Alan's book list on how economists agree and disagree amongst each other

Alan Bollard Why did Alan love this book?

This is the story of the momentous wartime meetings in New Hampshire that mapped out the new institutions that were to guide the global economy through the Cold War and after: the International Monetary Fund and the World Bank. It is an absorbing intellectual battle between arrogant British aristocratic John Maynard Keynes and the scrappy US Treasury official Harry Dexter White. (Spoiler alert: White won, but spoiled his reputation by likely being a Soviet spy.)

By Benn Steil,

Why should I read it?

1 author picked The Battle of Bretton Woods as one of their favorite books, and they share why you should read it.

What is this book about?

When turmoil strikes world monetary and financial markets, leaders invariably call for 'a new Bretton Woods' to prevent catastrophic economic disorder and defuse political conflict. The name of the remote New Hampshire town where representatives of forty-four nations gathered in July 1944, in the midst of the century's second great war, has become shorthand for enlightened globalization. The actual story surrounding the historic Bretton Woods accords, however, is full of startling drama, intrigue, and rivalry, which are vividly brought to life in Benn Steil's epic account. Upending the conventional wisdom that Bretton Woods was the product of an amiable Anglo-American…