<p>I notice quite a few threads here with rather divergent opinions about economic theory, so I thought I’d ask the general question for all readers, what writings about economics do you recommend for a nonspecialist? I’m particularly eager to find readable basic expositions of economics that presuppose knowledge of calculus. One example I have found is</p>
<p>and I would be happy to hear about more, as I haven’t committed myself to any one approach to economics as I try to self-educate in that subject.</p>
<p>The very best in my opinion is… <em>The Economic Way of Thinking</em> by Paul Heyne. Current editions are <em>very</em> expensive, so look for an older one - the principles don’t change. Very readable, but real, solid economics.</p>
<p>My next choice would be <em>The Road to Serfdom</em> by F.A. Hayek. A real classic.</p>
<p>Also, <em>Free to Choose: A Personal Statement</em> by Milton and Rose Friedman</p>
<p>And some my dh/son/friends have read and I’m looking forward to:</p>
<p>The Causes of Economic Crisis and other Essays before and after the Great Depression by Ludwig von Mises</p>
<p>The Forgotten Man: A New History of the Great Depression by Amity Shlaes</p>
<p>Any one know any good reads on globalization ? </p>
<p>I have been wondering what will happen to us when the manufacturing goes, perhaps completely… Can a country survive and more importantly prosper by just producing services ?</p>
<p>Neither a book nor an article, but the Gary Becker/Richard Posner blog might be of interest, as they look at all kinds of issues through (usually) the prism of economics. </p>
<p>If you’re not familiar with them, Becker is a longtime University of Chicago economist (and Nobel Prize winner). Posner was a longtime law professor there, until he was appointed to a federal appellate judgeship (he’s a towering figure both as a judge and as a legal theorist, and the word “prolific” doesn’t even begin to describe his amazing output [judicial opinions, articles, books, etc.]).</p>
<p>“and I would be happy to hear about more, as I haven’t committed myself to any one approach to economics as I try to self-educate in that subject.”</p>
<p>Different approaches to economics work best at different times.
There is no need to decide which approach is best and stick to that approach unless you are going to be a professional economist. ;)</p>
<p>Otherwise, do what you are doing. Read different viewpoints and use common sense. Look at reality. </p>
<p>I happen to like the calculatedrisk blog. </p>
<p>There is a great article in this month’s addition of Atlantic Monthly by Henry Blodget.</p>
<p>I really like reading the Austrian Economists, and their theories about ending the business cycle, curbing inflation, etc. Some of my favorite works are:</p>
<p>Human Action: A Treatise-Ludwig Von Mises
The Road to Serfdom-F.A. Hayek
What has Government done to our money-Murray Rothbard</p>
<p>More recently, I’ve enjoyed the insight of Peter Schiff and Bill Bonner regarding our current financial crisis. Right now I’m reading “Empire of Debt” by Bill Bonner, and its fantastic.</p>
<p>I read part of The Forgotten Man standing up in Borders yesterday. It seems very readable. I gather that it is supposed to be to some extent a revisionist history of the Great Depression. Her thesis in the portion I read seemed to be that the New Deal failed to effect change, at least in the first years. Of course, the “failure” she described was that although unemployment had dropped by something like 6%, it was still higher than before the Depression.</p>
<p>I am a little confused by your requirement, “readable basic expositions of economics that presuppose knowledge of calculus.” Most readable, and all basic expositions of economics that I am aware of would not presuppose knowledge of calculus. </p>
<p>If you find an economics book that explains how a country can survive with zero interest rates and exponentially expanding debt, please share it with me!</p>
<p>(Epistrophy, thanks for that blog link - looks very interesting)</p>
<p>I have been enjoying Michael Lewis’ books for years. You probably know him for Moneyball but he has written some very approachable books on economics. His latest - Panic is on my nightstand to be read next. It is a collection of articles - so I probably won’t like it quite as much as when he writes the whole thing himself. (at least judging by his past books of this nature)</p>
<p>is one, but I’m wondering if there are some more. </p>
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<p>Thanks for the suggestion. </p>
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<p>Thanks. That was a new title to me, and I’ve just requested it from my local library. </p>
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<p>Yes, I like his writings a lot. If I remember correctly, he writes a column on Slate. </p>
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<p>Yeah, I’d like to know that trick too. </p>
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<p>Yes, both very good books. I was urged to read the first by an investment bank economist I met at a college meeting a couple years ago, and I’m reading the second just now (after skipping ahead to finish Outliers). Michael Lewis is a wonderfully thoughtful and entertaining writer. </p>
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<p>Thanks. I just requested Why Most Things Fail from my public library. The two other books, by Nassim Nicholas Taleb, are favorites of mine that I’ve had my son read too. No one who has read Taleb should have been stupid enough to invest with Bernard Madoff. </p>
<p>Thanks for the suggestions. Keep them coming. Have a happy and prosperous new year.</p>