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11 Books You Need To Read To Finally Understand Economics

Learn all that school should have taught you about economics once and for all.

It is a very common occurrence that one graduates and is immediately thrown out into the world with responsibilities, jobs, and bills to pay. Only you feel that there’s an important thing missing about how all of this works and you can’t quite put a name on it.

I’ll tell you it’s the name: Economics, that which our country runs on and which basic knowledge school conveniently forgets to impart. Why? Well for one it makes easy to prey the cash out of your hands and put you in debt. Say enough already, educate yourself on how the system works, learn to use it on your favor, start with these books about economics.

#1 23 Things They Don’t Tell You About Capitalism by Ha-Joon Change

23 Things They Don't Tell You About Capitalism by Ha-Joon Change
23 Things They Don’t Tell You About Capitalism by Ha-Joon Change

Book recommendation by Stan Piskorski

There are many schools and disciplines within Economics. Since the USA is a capitalist country, it is valuable to see a different perspective than is provided by the supply side economists that have been controlling the messaging about economic policy since the Reagan years and has lead to the greatest disparity in wealth since just before the Great Depression.

This is a very readable book that you don’t have to be a Economics geek to understand. It should be on the bookshelf of everyone in business and just about anyone who is interested in knowing “how things work” in the real world.

Before buying a book make sure to compare price and outlet, we have included links below to several large book outlets for different regions in the world:

Read more reviews and buy the book here (Amazon)

Search for the audiobook here (Audible)

#2 Misbehaving: The Making of Behavioral Economics by Richard H. Thaler

Misbehaving: The Making of Behavioral Economics by Richard H. Thaler
Misbehaving: The Making of Behavioral Economics by Richard H. Thaler

Book recommendation by Stan Piskorski

Traditional Economics is based on three assumptions about how economic decisions are made. That people behave rationally. That people act in their own best interest. That people have enough information to make an informed decision. In the real world, none of those assumptions is true.

This book is an incredibly readable and sometimes even funny book about the important and comparatively new field of Behavioral Economics from one of the people who was a pioneer in the field. The author was also the 2017 recipient of the Nobel Memorial Prize in Economic Sciences. He puts his money where is philosophy is as a founder of Fuller and Thanler Asset Management. To show the practical value of Behavioral Economics it is helpful to read “”Nudge”” which Thaler co-authored.

Before buying a book make sure to compare price and outlet, we have included links below to several large book outlets for different regions in the world:

Read more reviews and buy the book here (Amazon)

Search for the audiobook here (Audible)

#3 Adaptive Markets: Financial Evolution at the Speed of Thought. by Andrew Lo

Adaptive Markets: Financial Evolution at the Speed of Thought. by Andrew Lo
Adaptive Markets: Financial Evolution at the Speed of Thought. by Andrew Lo

Book recommendation by Brandon Renfro from Brandon Renfro, Ph.D.

In this book Andrew Lo explains his Adaptive markets hypothesis in a very easy to follow narrative. What makes this theory exciting is it serves as an excellent link between rational and irrational market behavior.

We often think of these two descriptions of market behavior as opposing. Lo convincingly suggests that reality is more of a blend of the two. He draws support from human development and provides many analogies to help even a lay reader grasp the ideas presented.

Before buying a book make sure to compare price and outlet, we have included links below to several large book outlets for different regions in the world:

Read more reviews and buy the book here (Amazon)

Search for the audiobook here (Audible)

#4 The New School of Economics by Philip Allan

The New School of Economics by Philip Allan
The New School of Economics by Philip Allan

Book recommendation by Philip Allan

I (Philip Allan) authored this book to discuss a growing movement in economics towards a shift towards land value taxation, and to explain how it might affect the public in the coming decade.

Before buying a book make sure to compare price and outlet, we have included links below to several large book outlets for different regions in the world:

Read more reviews and buy the book here (Amazon)

Search for the audiobook here (Audible)

#5 The Road To Serfdom by F.A. Hayek

The Road To Serfdom by F.A. Hayek
The Road To Serfdom by F.A. Hayek

Book recommendation by David Reischer, Esq. from LegalAdvice.com

“The Road To Serfdom” is a brilliant book that campaigns to preserve personal and economic freedoms in Western democracies. The book argues that Western democracies’ attraction to socialism take root in policies that try to steer the general economy but to no avail. Hayek warns about the negative consequences that result from government control of economic decision-making through central planning.

Hayek believes that the economic decision making of central planners creates an environment in which bad investment decisions will have to eventually be liquidated once the economic expansion is over and the false market signals created by government interference is revealed as bad economic policy. Hayek champions that individuals should enter into transactions without government coercion and interference for the best economic results to flourish.

Before buying a book make sure to compare price and outlet, we have included links below to several large book outlets for different regions in the world:

Read more reviews and buy the book here (Amazon)

Search for the audiobook here (Audible)

#6 Thinking Fast and Slow by Daniel Kahneman

Thinking Fast and Slow by Daniel Kahneman
Thinking Fast and Slow by Daniel Kahneman

Book recommendation by Stan Piskorski

This thought provoking book is based on the research that won the author 2002 Nobel Memorial Prize in Economic Sciences. Here’s the thing, he’s not a economist. The work of Kahnemen and his co-researcher Amos Tversky, led to the creation of the field of Behavioral Economics. However, the research also has far reaching implications to the fields of finance, marketing, sales and politics. I was first exposed to it in Drew Westen’s book, “The Political Brain.” It has been my number one recommendation to anyone who is truly interested in how people in the real world make decisions.

A word of warning. This is not an easy read. You’ll read a few pages and then want to take a few hours to think about what you just read. As a professional sales trainer, it caused me to rethink many of my perceptions about how people make decisions and how to help sales people support their decision making process.

That also makes it a great audio book because you can repeat sections that you didn’t catch the first time.

Before buying a book make sure to compare price and outlet, we have included links below to several large book outlets for different regions in the world:

Read more reviews and buy the book here (Amazon)

Search for the audiobook here (Audible)

#7 Capitalism Without Capital: The Rise of the Intangible Economy by Jonathan Haskel

Capitalism Without Capital: The Rise of the Intangible Economy by Jonathan Haskel
Capitalism Without Capital: The Rise of the Intangible Economy by Jonathan Haskel

Book recommendation by Michelle Cortes-Harkins, MSW, CDFA, CRPC from Harkins Wealth Management

An interesting look at how our economy and world is driven more and more by intangible goods such as digital media, patents and software. Right now we are just at the tip of the iceberg. Haskel provides an interesting look at how these goods may create a large disparity between economies that produce tangible objects and those who focus on intangibles. How we measure, tax and make policy around intangibles requires a paradigm shift.

Before buying a book make sure to compare price and outlet, we have included links below to several large book outlets for different regions in the world:

Read more reviews and buy the book here (Amazon)

Search for the audiobook here (Audible)

#8 Meet Media Lit series by Jim Wasserman

Meet Media Lit series by Jim Wasserman
Meet Media Lit series by Jim Wasserman

Book recommendation by Jim Wasserman from Your third life

A three-book series on educating elementary, middle, and high school students about economics, behavioral economics, and media literacy, the series is great for anyone who wishes to understand the process of decision-making and, even more, the “nudges” on what we think are our “independent” decisions. Filled with real world examples and exercises that demonstrate the theories in action. Can’t wait for the movie version!

Before buying a book make sure to compare price and outlet, we have included links below to several large book outlets for different regions in the world:

Read more reviews and buy the book here (Amazon)

Search for the audiobook here (Audible)

#9 Good to Great by Jim Collins

Good to Great by Jim Collins
Good to Great by Jim Collins

Book recommendation by David Kloeber from David’s Website

This book by Jim Collins is one of my top resources for a passive business mentorship. It has a lot of detailed information, great concepts and helpful ideas on how to run a business for valued customers with a happy and highly skilled team. It is perfect for the new executive to built out her or his strategic leadership skills.

Before buying a book make sure to compare price and outlet, we have included links below to several large book outlets for different regions in the world:

Read more reviews and buy the book here (Amazon)

Search for the audiobook here (Audible)

#10 Capital in the Twenty-First Century by Thomas Piketty

Capital in the Twenty-First Century by Thomas Piketty
Capital in the Twenty-First Century by Thomas Piketty

Book recommendation by Nate Masterson from Maple Holistics

In this book, Thomas Piketty considers the factors at play which affect how capital is divided. Concepts such as economic growth and inequality are discussed, analyzing information from twenty different countries over the span of several centuries. Piketty talks about the problems with the current system while highlighting how the situation could be much worse. This is a great read for anyone looking to understand economics on a deeper level.

Before buying a book make sure to compare price and outlet, we have included links below to several large book outlets for different regions in the world:

Read more reviews and buy the book here (Amazon)

Search for the audiobook here (Audible)

#11 “Incremental Improvements: Change Your Life One Small Step At A Time” by Mike Brodsky

“Incremental Improvements: Change Your Life One Small Step At A Time” by Mike Brodsky
“Incremental Improvements: Change Your Life One Small Step At A Time” by Mike Brodsky

Book recommendation by Mike Brodsky from Incremental Improvements

This book includes strategies for making improvements to various aspects of your life. Many of the strategies are based on principles of behavioral economics. The book also includes many concepts related to personal finance and economics, and ways to apply these ideas to make changes to your life. Which strategies will you choose to make your life a little better, to make someone else’s life a little better, and to make the world a little better?

Before buying a book make sure to compare price and outlet, we have included links below to several large book outlets for different regions in the world:

Read more reviews and buy the book here (Amazon)

Search for the audiobook here (Audible)

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Written by Zak Parker

Journalist, writer, musician, professional procrastinator. I'll add more here later.

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