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10 Responses to “Great Economics Books”

  1. Hugh O'Brien

    Perhaps 'Economics in One Lesson' has educated enough everymen to earn a place here?

  2. Stephen

    Hugh, great example--I've not read it myself, but I've just ordered it, thanks for the suggestion!

  3. Adam Moursy

    What about "The richest man in Babylon" by George Clason. Maybe not a 'Great' economic book, but for those who are not used to reading books of an economic genre its definitely an excellent book to begin with.

  4. Mossy

    Stepehen, you should also look into How an economy grows and why it doesn't By Irwin Schiff.

    http://freedom-school.com/money/how-an-economy-grows.pdf

    Also, what do you think about Austrian Economics?

  5. Mossy

    Stephen, cancel your order of Economics in one lesson, you can get it for free.

    http://www.hacer.org/pdf/Hazlitt00.pdf

    Here's another one from a Richard Cantillon.

    http://www.econlib.org/library/NPDBooks/Cantillon/cntNTCover.html

  6. Stephen

    Kickass Mossy, thanks!

  7. Hugh O'Brien

    Human Action can be a tough read, though I'm a big fan of the Austrian school. It's really fascinating to sit down and compare it with 'the general theory', the style of language is so different. Keynes has a very 'matter of fact' 'this is the way things are' while Mises is openly honest that some things are beyond calculation.

    "It is possible to determine in terms of money prices the sum of all the income or the wealth of a number of people. But it is nonsensical to reckon national income or national wealth. As soon as we embark upon considerations foreign to the reasoning of a man operating within the pale of a market society, we are no longer helped by monetary calculation methods. The attempts to determine in money the wealth of a nation or of the whole of mankind are as childish as the mystic efforts to solve the riddles of the universe by worrying about the dimensions of the pyramid of Cheops. If a business calculation values a supply of potatoes at $100, the idea is that it will be possible to sell it or to replace it against this sum. If a whole entrepreneurial unit is estimated $1,000,000, it means that one expects to sell it for this amount. But what is the meaning of the items in a statement of a nation’s total wealth? What is the meaning of the computation’s final result? What must be entered into it and what is to be left outside? Is it correct or not to enclose the “value” of the country’s climate and the people’s innate abilities and acquired skill? The businessman can convert his property into money, but a nation cannot."

    http://mises.org/books/humanaction.pdf (page 217)

  8. Hugh O'Brien

    Oh, and I'd definitely still recommend buying a physical copy of 'Economics in one lesson', it's the type of book you can hand out to anyone you know that shows an interest in economics. Very readable, full of 'a-ha' moments. Especially useful in quietening trade union advocates (where possible).

  9. Niall

    How about "Globalisation and its Discontents". It might help to put into context all this talk of IMF intervention.

  10. Stephen

    Hi Niall, That's a good book, but I don't think it's Stiglitz' best. Perhaps his 'whither socialism' might be a better one?

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