Economics & Money
Economics in One Lesson
Henry Hazlitt
An enduring classic, this book dissects economic fallacies that have become prevalent, influencing government policies worldwide. It emphasizes the importance of considering the long-term effects of economic actions on all groups, not just the immediate consequences on a select few. A must-read for understanding basic economic principles and avoiding common pitfalls.
Applied Economics
Thomas Sowell
A revised and expanded edition that enables anyone, with no prior knowledge of economics, to understand some of the key economic issues of our time— medical care, housing, discrimination, and immigration, for example. It stresses long-run repercussions to decisions and policies.
Why Nations Fail
Daron Acemoglu
Why Nations Fail by Daron Acemoglu and James A. Robinson is a sweeping explanation of why some countries achieve lasting prosperity while others remain trapped in poverty. Rejecting geography, culture, or ignorance as primary causes, the authors argue that the decisive factor is institutions—specifically whether political and economic systems are inclusive or extractive. Inclusive institutions protect property rights, enforce the rule of law, and create incentives for innovation and participation across society. Extractive institutions, by contrast, concentrate power and wealth in the hands of a few, stifling competition and blocking broad-based growth. Through vivid historical case studies—from North and South Korea to colonial Latin America, medieval Venice, and modern Africa—the book shows how small institutional differences can compound over centuries into vast gaps in wealth and stability. What makes Why Nations Fail influential is not just its ambition, but its clarity: prosperity is not accidental, nor is poverty inevitable. Economic success depends on political choices, power struggles, and the institutions they produce. For readers seeking a framework to understand global inequality, state failure, and long-run development, this book offers one of the most durable and widely debated explanations of our modern world.
Abundance
Ezra Klein
In "Abundance: What Progress Takes," Ezra Klein and Derek Thompson challenge the prevailing mindset of scarcity that dominates modern political and economic discourse. Imagining a future of abundance in 2050, the authors argue that many of today's challenges, from the housing crisis to climate change, stem not from genuine resource limitations but from self-imposed restrictions and inefficient systems. They critique the "supply-side mistake" in politics and advocate for a proactive approach focused on growth, building, and innovation. Readers will explore the paradox of abundance, where well-intentioned regulations and bureaucratic hurdles ironically impede progress on critical issues. The book delves into the housing crisis, the challenges of large-scale infrastructure projects, and the stagnation of scientific progress, offering insightful analysis of the systemic biases and inefficiencies that hinder societal advancement. Through case studies like California's high-speed rail and the development of penicillin and solar energy, the authors expose the "eureka myth" and highlight the importance of strategic deployment and government intervention in translating inventions into widespread public benefit. Ultimately, "Abundance" calls for a refocused liberalism that prioritizes building, innovation, and effective implementation to address societal challenges. Klein and Thompson critique both right-wing scarcity politics and "everything-bagel liberalism," advocating for a new political order centered on abundance and a proactive vision for creating a more prosperous and equitable future.
Power and Prediction
Ajay Agrawal
Explore the transformative power of AI and its disruptive impact on the economy. This book delves into how AI is reshaping industries, enhancing decision-making, and creating new systems that will redefine the future of work and business.
Principles for Dealing with the Changing World Order
Ray Dalio
"Principles for Dealing with the Changing World Order" is a macro-historical analysis by legendary investor Ray Dalio, founder of Bridgewater Associates. Troubled by global trends he hadn't seen in his lifetime—huge debts, zero interest rates, and extreme political polarization—Dalio looked back 500 years to understand the patterns of history. His central thesis is the concept of the "Big Cycle." Dalio argues that history repeats itself in predictable loops. He meticulously tracks the rise and fall of the Dutch, British, and American empires to reveal a universal archetype: empires ascend through education, trade, and strong currency, but eventually decline due to over-indebtedness, internal decadence, and the rise of a rival power. The book is particularly urgent because Dalio places the United States at a critical juncture in this cycle—high debt and high internal conflict—while identifying China as the rising rival. Far from being fatalistic, it offers a diagnostic framework. It provides leaders and investors with the "timeless principles" needed to recognize these storms early and navigate the turbulent transition of global power.