World Economies

Government intervention in the economy played a key role in the East Asian economic miracle and, further back, the development of countries that have traditionally championed free markets around the world. As the merit of state leadership in key industries returns to mainstream debate, Danny Crichton of venture capital firm Lux Capital recommends five outstanding books for understanding industrial policy.

From the Indian cottons that were traded around Asia and Africa in the Middle Ages, to the global dominance of the blue-and-white pottery of Jingdezhen, historian Maxine Berg introduces five books that transformed our understanding of the past millennium and are significant milestones in the development of the vibrant field of global history.

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.

Why did Brexit happen? What does the future hold for Britain outside the European Union? Can trade economists help? The economist and former head of the National Institute of Economic and Social Research, a non-partisan think tank, recommends the best books (and one blogpost) on Brexit.

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.

With its passion for neoliberal ideology, the US uses its economic weight clumsily in terms of foreign policy, says former state department official and senior fellow at the Council on Foreign Relations, Jennifer M. Harris. Here she picks the best books for understanding the vital area of geoeconomics.

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.

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.

The Ghanaian economist George Ayittey denounces the failure of leadership and Western policy in Africa and explains what “African solutions to African problems” would mean in practice.

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