Despite the large number of brands, most Americans buy their beer from just two companies. Consumer choice in the new digital economy is hardly better. Economist Jason Furman, chair of the Council of Economic Advisers under Barack Obama and now a professor at Harvard, recommends books to better understand market competition.

Nearly every aspect of our life is determined by economics, and yet it’s easy to go through life understanding very little about it. Author and columnist Tim Harford (aka the ‘Undercover Economist’) introduces the best books to get you thinking like an economist.

From a book about applying game theory to public policy to an account of how modern management practices were first developed on slave plantations, it’s been another good year for interesting and accessible economics books. Cambridge professor Diane Coyle talks us through her selection of the best economics books of 2018.

Most people completing degrees in economics won’t have read these books, but they should, says British economist John Kay.

Great books can introduce kids to economics at a young age, says Rutgers University economics professor Yana van der Meulen Rodgers. Here she picks some lovely story books for 5-10 year olds and explains the key economic concepts they illustrate.

The US, the UK and many other countries have become far less equal over the past 30 years. The MIT economics professor Daron Acemoglu recommends inequality books and reading because he says it’s important we understand how and why this happened, and what it means for our societies.

At its worst, finance leads to crises and economic dislocation and, yet, it’s absolutely vital to solving many of the problems society faces today. MIT’s Andrew W Lo introduces some of the best books on finance and explains how it can change the world for the better.

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.

“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.

Globalization benefits mankind and we are learning how better to deal with the disruption it causes. But one thing is for sure, the laws of economics are no more escapable than the laws of physics. Harvard professor and former US Treasury secretary, Larry Summers, recommends the best books on globalization.

Burton Malkiel, a professor of economics (emeritus) at Princeton University and author of the bestselling A Random Walk Down Wall Street, recommends his top picks of books to read on investing.

The author and Wall Street Journal personal finance columnist, Jason Zweig, explains why there’s truth in the old adage that investors get the returns they deserve, and recommends books that might help you avoid being taken for a ride.

The 2007 Nobel Economics Prize winner says that, contrary to popular perception, economic theory did a good job of predicting the financial crisis, it’s just that no one was paying any attention. Eric Maskin talks us through four journal articles and one book on ‘economic theory and the financial crisis.’

Paul Krugman, Nobel prize-winning economist, Op-Ed columnist for the New York Times, and Emeritus Professor of Economics and International Affairs at Princeton, discusses the books that most influenced his formation as a liberal economist.

Economic orthodoxy in no way equips for the challenges of the 21st century, the ‘renegade economist’ Kate Raworth tells Five Books. It’s time to rethink basic concepts and paradigms, and redraw the boundaries.

The author of “The End of History” says the financial crisis revealed a great deal about the nature of America’s political and economic system. The shame, he says, is that opportunities to change it are now being ignored.

Game theory is marketed as a system you can apply to any sphere of life, but does it really have much to offer in terms of practical application? The distinguished game theorist, Ariel Rubinstein, suggests not. He recommends the best books on game theory.

With an array of intriguing and accessible books coming out, there’s no excuse not to be reading about economics. The ‘Enlightened Economist,’ Diane Coyle, recommends the best economics books that hit the shelves this past year.

What determines whether a country goes backwards or forwards? Why have so few developing countries joined the ranks of rich nations? George Magnus, former chief economist of UBS, chooses books to help us reflect on what it is that societies need in order to be successful.

We can all be more aware of our surroundings and our decision-making process, says the professor of psychology and behavioural economics, Dan Ariely. He recommends five books to help us maximise our prosperity and well-being.

Harvard macroeconomist Robert Barro takes issue with some common assumptions about the Great Depression, and how America got out of it.

Kaushik Basu, Professor of Economics at Cornell and former Chief Economist of the World Bank (2012-2016), says there’s a Gandhian way of evaluating society that takes account of both growth and inequality, and tells us why his job is an anthropologist’s dream come true. He picks the best books to understand India’s economy.

What are the economic effects of immigration? Economist Ian Goldin, a professor at Oxford University and founding director of the Oxford Martin School, recommends books and explains.

With hindsight, was the euro a good idea? Will it come through the present crisis intact or will any country decide to leave? And what happens if they do? Economist Barry Eichengreen recommends the best books on the Euro.

Blaming “the quants” for the 2008 financial crisis is simplistic and short-sighted, says the author of The Physics of Wall Street. He picks five books showing the contribution physics has made to understanding financial markets.

If you were the last person alive and had to leave a testament to how our world worked, which five books would you choose? Political economist Mark Blyth makes his ‘desert island’ choices.

Income inequality has reached a crisis point in America, says the author of The Great Divergence – yet with powerful nationwide pressure to address the problem, there is also an opportunity for change

The Australian economist and author of Zombie Economics says we need to inspire people with a view of a better society. In short, we need a new utopia.

History contains useful warnings and lessons and today’s economic policymakers would do well to heed them, says the IMF’s former chief economist, Simon Johnson. He recommends books showing why economic history matters.

The American economy has been driven by waves of technological change and the successful adoption of ideas from elsewhere. The author of Land of Promise tells us how it happened, and what history teaches us about the way ahead

It’s important to understand social aspects of economic behaviour, particularly when times of crisis reveal the shortcomings of traditional economic theory, says sociologist Neil Fligstein.

Wall Street money manager Barry Ritholtz diagnoses the ills of America’s political and economic system in a fizzing, irreverent analysis (with promised f-bombs thrown in). He recommends the best books on the causes of the financial crisis.

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.

The former chair of President Obama’s Council of Economic Advisers says we’ve learned that terrible downturns can still occur, but also that the right policy response can make a huge difference to the outcome

A key figure behind the Massachusetts and Obama healthcare reforms tells us about the purpose and uses of public finance economics, and explains how Romneycare and Obamacare are both different and alike.

The professor of economics discusses the contributions made by the Austrian School. He introduces recent books by Austrians, explains what we can learn from Mises and Hayek, and argues that economics is the sexiest subject.

We all have a bit of the rogue trader in us. So says the chief business commentator of the FT, who tells us about the greed, vanity and weakness that can lead to financial disaster. He picks the best books on financial speculation.

The head of USAID says ending poverty is within our grasp, and explains why development and a flair for business can be a happy combination

Harvard economist Edward Glaeser chooses the best books on the economics of cities, from Chicago’s life story to how urban transport shaped New York.

Harvard economist Richard Freeman recommends the best books to get an understanding of the history and theory of labour unions.

Victor Shih's selection highlights rising inequality, economic irregularity and political heavy-handedness at the heart of modern China. As its economy blazes on, uncertain times may be looming

World Bank economist and author of The Haves and the Have-Nots: A Short and Idiosyncratic History of Global Inequality discusses global economic inequality and says internal issues of inequality breed aggressive foreign policy

What is going on with the world these days? In this amazing interview tracing the past and present of globalisation, political economist Dani Rodrik gave us some clues as to the underlying issue. He picks the best books on globalisation.

The author of When the Luck of the Irish Ran Out says the villains were reckless banks that binged on cheap capital to fuel a housing and credit bubble that was larger even than that in the US

The prominent international economic adviser, Jeff Sachs, says we can reduce poverty by devoting just a modest fraction of our vast wealth to the effort.

The Chief Economist at HSBC reflects on the hubris of the Western World and reminds us that history provides valuable lessons on financial crises and the constant changing shape of the world economy

Keynes biographer Robert Skidelsky recommends the best books about one of the most important economists of all time, John Maynard Keynes.

The Chief of Staff of the United Nations under Kofi Annan and former Administrator of the UN Development Programme talks us through some of the key ideas and institutions that helped develop globalisation