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Economics » Economic History

Most Recommended Books

A Monetary History of the United States, 1867-1960 by Milton Friedman and Anna Schwartz

“When we look at the monetary history of the United States and ask whether, during those times, the central bank looked anything like it does now, the answer is ‘no’. It’s a book that addresses why that was”

Ricardo Reis,

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The Passions and the Interests by Albert Hirschman

“That shift away from a world in which entrepreneurship is exercised and social power gained primarily by oppressing people and taking their stuff, or making them work for you, to a wealthier, more sophisticated world based much more on win-win exchange is the meat of Hirschman’s book. It’s a look back on how European intellectuals reacted when, all of a sudden, it became possible to run a civilization based not on the passions for those we love and those we hate, but rather on the interests we have in all cooperating, even though we do not terribly care about each other. We’re all useful to each other and so we can live in peace. It’s a great book, a wonderful book.”

Brad DeLong,

Read more

Browse book recommendations:

Economics

  • Behavioural Economics
  • Development Economics
  • Economic History
  • Economics Textbooks
  • Finance
  • Financial Crisis
  • Globalisation & Inequality
  • New Books
  • World Economies

Traditionally neglected in university courses, economic history has made a comeback in the wake of the financial crisis, and so it’s no surprise we have an interview with former IMF chief economist Simon Johnson on why it matters.

Giving us their top choices of economics books are Emma Rothschild of Harvard, Peter Temin of MIT and the writer and journalist David Lynch. Professor Mark Blyth of Brown University chooses his favourites on how the world’s political economy works, and Michael Lind, author of Land of Promise: an Economic History of the United States, looks at the US. Harvard economist Robert Barro discusses the lessons of the Great Depression and the author Niall Kishtainy talks to us about the history of economic thought, focusing mainly on the post-war period.

    The Best Books on the Classical Economists, recommended by Brad DeLong

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    The Best Books on the Classical Economists - The Passions and the Interests by Albert Hirschman

    1

    The Passions and the Interests
    by Albert Hirschman

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    The Best Books on the Classical Economists - The Worldly Philosophers by Robert L Heilbroner

    2

    The Worldly Philosophers
    by Robert L Heilbroner

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    The Best Books on the Classical Economists - The Classical Economists Revisited by D. P. O'Brien

    3

    The Classical Economists Revisited
    by D. P. O'Brien

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    The Best Books on the Classical Economists - Economic Sentiments:‭ ‬Adam Smith,‭ ‬Condorcet and the Enlightenment by Emma Rothschild

    4

    Economic Sentiments:‭ ‬Adam Smith,‭ ‬Condorcet and the Enlightenment
    by Emma Rothschild

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    The Best Books on the Classical Economists - Karl Marx: A Nineteenth-Century Life by Jonathan Sperber

    5

    Karl Marx: A Nineteenth-Century Life
    by Jonathan Sperber

The Best Books on the Classical Economists, recommended by Brad DeLong

They were an eclectic bunch, including, among others, a stock market speculator, a moral philosopher, a cleric, a lawyer and a journalist. From the late-18th to the mid-19th century, they provided the first systematic explanations of how economies work, where they fail and how they might be made to work better. Here, Brad DeLong, a professor of economics at UC Berkeley, introduces the classical economists, and suggests books to read to learn more about them and what they were trying to achieve.

    The best books on Historical Change and Economic Ideology, recommended by Thomas Piketty

  • Read
    The best books on Historical Change and Economic Ideology - The Great Demarcation: The French Revolution and the Invention of Modern Property by Rafe Blaufarb

    1

    The Great Demarcation: The French Revolution and the Invention of Modern Property
    by Rafe Blaufarb

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    The best books on Historical Change and Economic Ideology - Gold and Freedom: The Political Economy of Reconstruction by Nicolas Barreyre

    2

    Gold and Freedom: The Political Economy of Reconstruction
    by Nicolas Barreyre

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    The best books on Historical Change and Economic Ideology - Citizenship between Empire and Nation: Remaking France and French Africa, 1945-1960 by Frederick Cooper

    3

    Citizenship between Empire and Nation: Remaking France and French Africa, 1945-1960
    by Frederick Cooper

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    The best books on Historical Change and Economic Ideology - Castes of Mind: Colonialism and the Making of Modern India by Nicholas B. Dirks

    4

    Castes of Mind: Colonialism and the Making of Modern India
    by Nicholas B. Dirks

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    The best books on Historical Change and Economic Ideology - The Emergence of Globalism: Visions of World Order in Britain and the United States, 1939–1950 by Or Rosenboim

    5

    The Emergence of Globalism: Visions of World Order in Britain and the United States, 1939–1950
    by Or Rosenboim

The best books on Historical Change and Economic Ideology, recommended by Thomas Piketty

Throughout history, social and economic inequalities have been fueled and justified by different ideologies. French economist Thomas Piketty’s latest book, Capital and Ideology, looks at the advent and fall of these ideologies, and how they could evolve in the future. He recommends five great books to better understand these complex and always-evolving ideas, and their consequences for the world.

    The Economics of Coronavirus: A Reading List, recommended by Ricardo Reis

  • Read
    The Economics of Coronavirus: A Reading List - Free Trade Under Fire by Douglas A Irwin

    1

    Free Trade Under Fire
    by Douglas A Irwin

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    The Economics of Coronavirus: A Reading List - A Monetary History of the United States, 1867-1960 by Milton Friedman and Anna Schwartz

    2

    A Monetary History of the United States, 1867-1960
    by Milton Friedman and Anna Schwartz

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    The Economics of Coronavirus: A Reading List - The Liquidation of Government Debt (Economic Policy, Volume 30, Issue 82, April 2015) by Carmen Reinhart & M. Belen Sbrancia

    3

    The Liquidation of Government Debt (Economic Policy, Volume 30, Issue 82, April 2015)
    by Carmen Reinhart & M. Belen Sbrancia

  • Read
    The Economics of Coronavirus: A Reading List - The Great Reversal: How America Gave up on Free Markets by Thomas Philippon

    4

    The Great Reversal: How America Gave up on Free Markets
    by Thomas Philippon

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    The Economics of Coronavirus: A Reading List - Hard Head, Soft Hearts: Tough-minded Economics for a Just Society by Alan S Blinder

    5

    Hard Head, Soft Hearts: Tough-minded Economics for a Just Society
    by Alan S Blinder

The Economics of Coronavirus: A Reading List, recommended by Ricardo Reis

As we deal with the economic fallout of coronavirus, what lessons can economic theory and economic history teach us as we navigate the months ahead? Ricardo Reis, professor of economics at the London School of Economics—and consultant to both the Bank of England and the Federal Reserve—recommends four books and one article to help us think through the economic challenges posed by Covid-19.

    The best books on Market Competition, recommended by Jason Furman

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    The best books on Market Competition - Saving Capitalism from the Capitalists by Luigi Zingales & Raghuram G Rajan

    1

    Saving Capitalism from the Capitalists
    by Luigi Zingales & Raghuram G Rajan

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    The best books on Market Competition - Exit, Voice, and Loyalty by Albert Hirschman

    2

    Exit, Voice, and Loyalty
    by Albert Hirschman

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    The best books on Market Competition - Antitrust Paradox by Robert H. Bork

    3

    Antitrust Paradox
    by Robert H. Bork

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    The best books on Market Competition - Lectures on Antitrust Economics by Michael D. Whinston

    4

    Lectures on Antitrust Economics
    by Michael D. Whinston

  • Read
    The best books on Market Competition - Radical Markets: Uprooting Capitalism and Democracy for a Just Society by E. Glen Weyl & Eric A. Posner

    5

    Radical Markets: Uprooting Capitalism and Democracy for a Just Society
    by E. Glen Weyl & Eric A. Posner

The best books on Market Competition, recommended by Jason Furman

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.

    Peter Temin on An Economic Historian’s Favourite Books

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    Peter Temin on An Economic Historian’s Favourite Books - Capital in the Twenty-First Century by Thomas Piketty

    1

    Capital in the Twenty-First Century
    by Thomas Piketty

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    Peter Temin on An Economic Historian’s Favourite Books - The New Jim Crow: Mass Incarceration in the Age of Colorblindness by Michelle Alexander

    2

    The New Jim Crow: Mass Incarceration in the Age of Colorblindness
    by Michelle Alexander

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    Peter Temin on An Economic Historian’s Favourite Books - The Strange Career of Jim Crow by C. Vann Woodward

    3

    The Strange Career of Jim Crow
    by C. Vann Woodward

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    Peter Temin on An Economic Historian’s Favourite Books - A Theory of Economic History by John Hicks

    4

    A Theory of Economic History
    by John Hicks

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    Peter Temin on An Economic Historian’s Favourite Books - Feudal Society by marc bloch

    5

    Feudal Society
    by marc bloch

Peter Temin on An Economic Historian’s Favourite Books

Distinguished economic historian, Peter Temin, talks us through some of his favourite books. His own latest book, The Vanishing Middle Class, charts America’s regression towards a pre-industrial society: with many poor, a few rich, and not much in between.

    The best books on The History of Economic Thought, recommended by Niall Kishtainy

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    The best books on The History of Economic Thought - The World in the Model: How Economists Work and Think by Mary Morgan

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    The World in the Model: How Economists Work and Think
    by Mary Morgan

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    The best books on The History of Economic Thought - Red Plenty by Francis Spufford

    2

    Red Plenty
    by Francis Spufford

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    The best books on The History of Economic Thought - Never Let a Serious Crisis Go to Waste: How Neoliberalism Survived the Financial Meltdown by Philip Mirowski

    3

    Never Let a Serious Crisis Go to Waste: How Neoliberalism Survived the Financial Meltdown
    by Philip Mirowski

  • Read
    The best books on The History of Economic Thought - Economics and Utopia: Why the Learning Economy is Not the End of History by Geoffrey Hodgson

    4

    Economics and Utopia: Why the Learning Economy is Not the End of History
    by Geoffrey Hodgson

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    The best books on The History of Economic Thought - Rationalizing Capitalist Democracy: The Cold War Origins of Rational Choice Liberalism by S M Amadae

    5

    Rationalizing Capitalist Democracy: The Cold War Origins of Rational Choice Liberalism
    by S M Amadae

The best books on The History of Economic Thought, recommended by Niall Kishtainy

Many people feel dissatisfied with aspects of neoliberalism, but fewer know what it is or where it came from. Economic historian Niall Kishtainy recommends some of his favourite books on the history of economic thought, books that use intellectual history to examine issues confronting us in the real world.

    The best books on The Slave Trade, recommended by William A. Pettigrew

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    The best books on The Slave Trade - The Interesting Narrative by Olaudah Equiano

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    The Interesting Narrative
    by Olaudah Equiano

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    The best books on The Slave Trade - Capitalism and Slavery by Eric Williams

    2

    Capitalism and Slavery
    by Eric Williams

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    The best books on The Slave Trade - The Rise of African Slavery in the Americas by David Eltis

    3

    The Rise of African Slavery in the Americas
    by David Eltis

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    The best books on The Slave Trade - Ouidah: The Social History of a West African Slaving Port 1727-1892 by Robin Law

    4

    Ouidah: The Social History of a West African Slaving Port 1727-1892
    by Robin Law

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    The best books on The Slave Trade - American Slavery, American Freedom: The Ordeal of Colonial Virginia by Edmund S Morgan

    5

    American Slavery, American Freedom: The Ordeal of Colonial Virginia
    by Edmund S Morgan

The best books on The Slave Trade, recommended by William A. Pettigrew

In the 17th and 18th century millions of Africans were shipped across the Atlantic to the Americas as slaves. This trade took place at the same time as ‘liberal’ ideas about the importance of human freedom took root in Great Britain and North America. Here, historian William A. Pettigrew recommends five books to help understand the slave trade, how it was established, why it flourished and why it was eventually abolished.

    The best books on The Lessons of the Great Depression, recommended by Robert Barro

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    The best books on The Lessons of the Great Depression - A Monetary History of the United States, 1867-1960 by Milton Friedman and Anna Schwartz

    1

    A Monetary History of the United States, 1867-1960
    by Milton Friedman and Anna Schwartz

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    The best books on The Lessons of the Great Depression - Macroeconomic Effects from Government Purchases and Taxes by Robert Barro

    2

    Macroeconomic Effects from Government Purchases and Taxes
    by Robert Barro

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    The best books on The Lessons of the Great Depression - Identifying Government Spending Shocks by Valerie Ramey

    3

    Identifying Government Spending Shocks
    by Valerie Ramey

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    The best books on The Lessons of the Great Depression - Essays on the Great Depression by Ben Bernanke

    4

    Essays on the Great Depression
    by Ben Bernanke

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    The best books on The Lessons of the Great Depression - The Great Depression in the United States from a Neoclassical Perspective by Harold Cole and Lee Ohanian

    5

    The Great Depression in the United States from a Neoclassical Perspective
    by Harold Cole and Lee Ohanian

The best books on The Lessons of the Great Depression, recommended by Robert Barro

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

    The best books on How the World’s Political Economy Works, recommended by Mark Blyth

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    The best books on How the World’s Political Economy Works - The Passions and the Interests by Albert Hirschman

    1

    The Passions and the Interests
    by Albert Hirschman

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    The best books on How the World’s Political Economy Works - The General Theory of Employment, Interest and Money by John Maynard Keynes

    2

    The General Theory of Employment, Interest and Money
    by John Maynard Keynes

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    The best books on How the World’s Political Economy Works - The Great Transformation by Karl Polanyi

    3

    The Great Transformation
    by Karl Polanyi

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    The best books on How the World’s Political Economy Works - Social Origins of Dictatorship and Democracy by Barrington Moore

    4

    Social Origins of Dictatorship and Democracy
    by Barrington Moore

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    The best books on How the World’s Political Economy Works - The Rhetoric of Reaction by Albert Otto Hirschman

    5

    The Rhetoric of Reaction
    by Albert Otto Hirschman

The best books on How the World’s Political Economy Works, recommended by Mark Blyth

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.

    The best books on Why Economic History Matters, recommended by Simon Johnson

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    The best books on Why Economic History Matters - A History of Interest Rates by Sidney Homer, Richard Sylla

    1

    A History of Interest Rates
    by Sidney Homer, Richard Sylla

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    The best books on Why Economic History Matters - The Rise of Theodore Roosevelt by Edmund Morris

    2

    The Rise of Theodore Roosevelt
    by Edmund Morris

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    The best books on Why Economic History Matters - Why Nations Fail by Daron Acemoglu and James Robinson

    3

    Why Nations Fail
    by Daron Acemoglu and James Robinson

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    The best books on Why Economic History Matters - Eclipse by Arvind Subramanian

    4

    Eclipse
    by Arvind Subramanian

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    The best books on Why Economic History Matters - Red Ink by David Wessel

    5

    Red Ink
    by David Wessel

The best books on Why Economic History Matters, recommended by Simon Johnson

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 best books on American Economic History, recommended by Michael Lind

  • Read
    The best books on American Economic History - The Elusive Republic by Drew R McCoy

    1

    The Elusive Republic
    by Drew R McCoy

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    The best books on American Economic History - From the American System to Mass Production, 1800-1932 by David A Hounshell

    2

    From the American System to Mass Production, 1800-1932
    by David A Hounshell

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    The best books on American Economic History - Technology and American Society by Gary Cross and Rick Szostak

    3

    Technology and American Society
    by Gary Cross and Rick Szostak

  • Read
    The best books on American Economic History - The Past and Future of America’s Economy by Robert D Atkinson

    4

    The Past and Future of America’s Economy
    by Robert D Atkinson

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    The best books on American Economic History - Bad Samaritans by Ha-Joon Chang

    5

    Bad Samaritans
    by Ha-Joon Chang

The best books on American Economic History, recommended by Michael Lind

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

    The best books on Economic History, recommended by Emma Rothschild

  • Read
    The best books on Economic History - Migration and Diaspora in Modern Asia by Sunil S Amrith

    1

    Migration and Diaspora in Modern Asia
    by Sunil S Amrith

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    The best books on Economic History - Poor Economics by Abhijit V Banerjee and Esther Duflo

    2

    Poor Economics
    by Abhijit V Banerjee and Esther Duflo

  • Read
    The best books on Economic History - River of Smoke by Amitav Ghosh

    3

    River of Smoke
    by Amitav Ghosh

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    The best books on Economic History - The Age of Capital:‭ ‬1848-1975 by Eric Hobsbawm

    4

    The Age of Capital:‭ ‬1848-1975
    by Eric Hobsbawm

  • Read
    The best books on Economic History - Adam Smith:‭ ‬An Enlightened Life by Nicholas Phillipson

    5

    Adam Smith:‭ ‬An Enlightened Life
    by Nicholas Phillipson

The best books on Economic History, recommended by Emma Rothschild

In time of economic crisis, studying the past can teach us much about the world economy today, says economic historian Emma Rothschild.

    The best books on Economic History, recommended by David J Lynch

  • Read
    The best books on Economic History - Lords of Finance by Liaquat Ahamed

    1

    Lords of Finance
    by Liaquat Ahamed

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    The best books on Economic History - The Reckoning by David Halberstam

    2

    The Reckoning
    by David Halberstam

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    The best books on Economic History - Secrets of the Temple by William Greider

    3

    Secrets of the Temple
    by William Greider

  • Read
    The best books on Economic History - Mr China by Tim Clissold

    4

    Mr China
    by Tim Clissold

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    The best books on Economic History - The Big Short by Michael Lewis

    5

    The Big Short
    by Michael Lewis

The best books on Economic History, recommended by David J Lynch

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

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