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.

Problems in the world economy can have a profound impact on politics. What’s happening in the US and elsewhere is disturbing, says Martin Wolf, chief economics commentator of the Financial Times. He talks us through books to help us reflect on the challenges facing economies. His recommendations include two books that query whether the era of unprecedented economic growth—which has transformed our societies over the last 150 years—is finally coming to an end.

From a sweeping history of China covering three millennia to what econometrics papers can tell us about what made the world rich, it’s been a fantastic year for economic history books. Davis Kedrosky, a student at Berkeley and publisher of Great Transformations, an economic history newsletter, picks some of his favourite economic history books of 2022.

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.

Reading nonfiction books is an excellent way of getting a grip on the realities of the world around us, whether it’s how to live, how to run a country, or understanding how the universe works. Five Books editor Sophie Roell looks at some notable new nonfiction books published since June.