Capitalism

Modern market economies face a growing malaise, says activist and science fiction author Cory Doctorow: powerful actors creating 'chokepoints' between producers and consumers, causing untenable conditions for both. Here he picks out the best books he's reviewed over the last two years and explains why they're important.

"You have to understand people first before you can understand how to devise an economic system for them" argues Robert J Shiller, the Yale economics professor and Nobel laureate. He chooses five books that explore who we fundamentally are, as human beings, and how that will determine the shape of a successful capitalism.

It's not the first period in history that American society has suffered from a crisis of inequality. Former labour secretary, Robert Reich, recommends books to help us understand the response of previous generations to the same kinds of challenges we now face.

Adam Smith tends to be seen as the founder of capitalism and modern economics, but he was, first and foremost, a moral philosopher. Dennis Rasmussen, author of The Infidel and the Professor—a book about Smith's friendship with David Hume—selects the best books by and about Adam Smith.

We need to build an entirely new market system, not just patch up the old one, says economics commentator Anatole Kaletsky. He picks the best books to help us think about what form a new capitalism might take.

The sociologist Will Davies discusses five of the best books about moral economy: the study of norms, values, principles and ethics within the space of the economy.

The Millennial cohort is often characterised as a shallow, social media-obsessed generation that puts avocado toast ahead of the future. But in reality they are overeducated, underemployed and beset by anxiety, says Malcolm Harris, millennial and author of Kids These Days. Here he selects five books that paint a more accurate portrait of the first generation to come of age in the 21st century.

Writer and investigative journalist George Monbiot recommends books that have shaped him, and that are crucial reading for those wishing to navigate the current economic and environmental crises.

Americans remember Reagan fondly, but what did the Gipper really stand for? The historian chooses the best books on Ronald Reagan and his time.

What is the difference between fairness and equality? In contemporary capitalist societies, some inequality is inevitable and desirable. But the rewards for the few at the top have soared while the rest have been squeezed. Is this fair? We need a new social contract, says the author and columnist