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50 Classics
50 Economics Classics
Economics drives the modern world and shapes our lives, but few of us feel we have time to engage with the breadth of ideas in this subject. 50 Economics Classics is the smart person's guide to two centuries of discussion of finance, capitalism, and the global economy. From Adam Smith's Wealth of Nations to Thomas Piketty's bestseller Capital in the Twenty-First Century, here are the great reads, seminal ideas, and famous texts, clarified and illuminated for all.
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Displaying 1 - 7 of 7 reviews
March 18, 2021
Sounds boring, well, it's not. I wanna read this whole series.
January 26, 2020
What a well written book. Each chapter nearly covers the key ideas of a particular book that has contributed significantly to economic thought. Covering a wide range of approaches.
January 4, 2022
Ronald Coase warned against what he calls “Blackboard Economics”, or what I call paper theories, that is theories that look perfect on the blackboard but do not work in reality. One such famous theory is Tomas Malthus's theory of population. It worked on paper but never became reality.
There are many such theories in economics. Some work partially others not at all. Some are implemented wrong or at the wrong time. There are several problems with Economic Theories. First, economics cannot be tried out in a laboratory. It is a life exercise and cannot be repeated in the exact for again. It is impossible to go back in time and repeat The Great Depression of 1923-1939, The OPEC Oil Price Shock of 1973, The Financial Crisis of 2007-2008, or other economical events and then try to improve the reactions to those events. Second, although mathematics is important for use in economics, it is a social science, and as such subjects to the quirks of human emotions. And third, when implementing economic theories, and then analyzing the results, politics play a significant part both in the implementation and analysis of the results.
There is another crucial fact that applies to economics as well as politics, although it is often overlooked. That is the fact that “although I am wrong, it does not mean you are necessarily right”.
In Tom Butler-Bowdon’s book, 50 Economics Classics, fifty influential books on economics are being distilled and the main theories are laid out in simple terms. He divides the books into five categories on The Spirit of Capitalism, Growth & Development, Adventures in Money & Finance, Government, Markets & the Economy, and Behavioral Economics. The selection spans about 240 years from Adam Smith’s, The Wealth of Nations, to Joseph Stiglitz’s, The Euro and includes authors such as Liaquat Ahamed, Ha-Joon Chang, Milton Friedman, John Maynard Keynes, Naomi Klein, Michael Lewis, Dani Rodrik, Robert J. Shiller and more.
It is interesting to see how some of the theories discussed in the book have been exalted during this century while either unproven or with all the evidence showing they do not work, for the simple fact that the planned economics of communism did not work out.
Putting it all together, my takeaway from the book is that a handful of writers, down the center, have been correct, while others on the fringes have been, for the most part, wrong. Keynes, Ha-Joon Chang, Klein, Piketty, and Bogle have been mostly right, while Malthus, Max, Rand, Hayek, Friedman, and Simon mostly got it wrong.
There are many such theories in economics. Some work partially others not at all. Some are implemented wrong or at the wrong time. There are several problems with Economic Theories. First, economics cannot be tried out in a laboratory. It is a life exercise and cannot be repeated in the exact for again. It is impossible to go back in time and repeat The Great Depression of 1923-1939, The OPEC Oil Price Shock of 1973, The Financial Crisis of 2007-2008, or other economical events and then try to improve the reactions to those events. Second, although mathematics is important for use in economics, it is a social science, and as such subjects to the quirks of human emotions. And third, when implementing economic theories, and then analyzing the results, politics play a significant part both in the implementation and analysis of the results.
There is another crucial fact that applies to economics as well as politics, although it is often overlooked. That is the fact that “although I am wrong, it does not mean you are necessarily right”.
In Tom Butler-Bowdon’s book, 50 Economics Classics, fifty influential books on economics are being distilled and the main theories are laid out in simple terms. He divides the books into five categories on The Spirit of Capitalism, Growth & Development, Adventures in Money & Finance, Government, Markets & the Economy, and Behavioral Economics. The selection spans about 240 years from Adam Smith’s, The Wealth of Nations, to Joseph Stiglitz’s, The Euro and includes authors such as Liaquat Ahamed, Ha-Joon Chang, Milton Friedman, John Maynard Keynes, Naomi Klein, Michael Lewis, Dani Rodrik, Robert J. Shiller and more.
It is interesting to see how some of the theories discussed in the book have been exalted during this century while either unproven or with all the evidence showing they do not work, for the simple fact that the planned economics of communism did not work out.
Putting it all together, my takeaway from the book is that a handful of writers, down the center, have been correct, while others on the fringes have been, for the most part, wrong. Keynes, Ha-Joon Chang, Klein, Piketty, and Bogle have been mostly right, while Malthus, Max, Rand, Hayek, Friedman, and Simon mostly got it wrong.
April 16, 2024
"50 Classics: 50 Greatest Economics Classics" by Tom Butler Bowdon is more than just a title; it truly lives up to its promise. This book offers a comprehensive overview of economic concepts and ideas discussed in a diverse range of literature spanning two centuries.
What sets this book apart is its ability to distill complex economic theories and insights from 50 different books into concise summaries. Even books that are out of print are included, making it a valuable resource for anyone interested in understanding the evolution of economic thought.
Tom Butler Bowdon's skill in conceptualising and organising the content is commendable. The summaries provided are clear, insightful, and accessible, making the book an engaging read for both beginners and seasoned scholars of economics.
Overall, "50 Classics: 50 Greatest Economics Classics" is a must-read for anyone looking to gain a deeper understanding of economics and its historical development. Tom Butler Bowdon has done an excellent job in compiling and summarising these timeless works, making this book a valuable addition to any economist's library.
What sets this book apart is its ability to distill complex economic theories and insights from 50 different books into concise summaries. Even books that are out of print are included, making it a valuable resource for anyone interested in understanding the evolution of economic thought.
Tom Butler Bowdon's skill in conceptualising and organising the content is commendable. The summaries provided are clear, insightful, and accessible, making the book an engaging read for both beginners and seasoned scholars of economics.
Overall, "50 Classics: 50 Greatest Economics Classics" is a must-read for anyone looking to gain a deeper understanding of economics and its historical development. Tom Butler Bowdon has done an excellent job in compiling and summarising these timeless works, making this book a valuable addition to any economist's library.
November 2, 2020
Nice book on understanding the economy
March 10, 2022
This one is worth many more stars than five!!
March 11, 2022
A well written book that each chapters encompasses of a simplified version of every economists’ literature.
Displaying 1 - 7 of 7 reviews