Economics Books

As we study the causes of economic prosperity over the millennia and particularly the last century-and-a-half, it's worth remembering that humans are always the most important driver of economic growth. Jason Furman, a Harvard economics professor and former adviser to Barack Obama, picks out five of the best economics books of 2022, as well as topics he'd like to see books about in 2023.

Monetary policy isn't just about setting interest rates and if we think about it in those terms, we'll never really understand it, says Danish economist Lars Christensen. Here, he recommends books to better understand monetary policy, and explains why reading about the past is so important for avoiding mistakes in the future.

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 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.

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

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.

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.

In its study of the broader economy, macroeconomics is a vital tool for understanding the world around us, offering insights into issues that affect us all, like inflation and unemployment. Which textbooks to read to learn more about it? Here, Raffaele Rossi, Senior Lecturer at the University of Manchester, recommends his top macroeconomics textbooks, starting with entry-level books aimed at undergraduates all the way through to the tough tomes you'll need to plough through if you're doing a doctorate and want to work at the frontier of the discipline.

Power corrupts and corporate power is no exception: its effects are bad for consumers, bad for workers and bad for the economy. Here, Belgian American economist Jan Loeys recommends books that look at the economic and political implications of 'market concentration,' and explains why we don't need governments that are pro-business but ones that are pro-market.

According to Keynes, to be a good economist you have to be good at maths but not too good, good at history but not too good, and good at philosophy but not too good. Economics is also a lot of fun, argues economist Daniel Hamermesh. He chooses five books to make his case.