Skip to comments.Basic Economics?
Posted on 11/03/2007 8:34:57 AM PDT by Bear_Slayer
I tend to be analytical and enjoy studying what makes situations occur.
I understand that economics plays the largest part in what drives politics, both locally as well as globally.
I know so little about economics, though.
Short of taking an economics college course
can anyone recommend websites or books that explain and discuss economics?
It's excellent -- I was able to get through the "Wealth of Nations" next just on the basis of what I'd learned from reading Sowell.
Thanks. I’m going to the library shortly so I am trying to build a list of books to look for.
“The Wealth of Nations” - Adam Smith
“Capital” - Karl Marx
“The Road to Serfdom” - F.A. Hayek
“The General Theory of Employment, Interest and Money” - John Maynard Keynes
“Free to Choose” - Milton Friedman
“Monetary History of the United States 1867-1960”- Friedman and Anna Schwartz
For a good, easy to read historical overview of economics, “The Worldly Philosophers” by Robert Heilbroner is a good start.
Good luck and have fun!
BTW, does anyone know who "Angus Black" really is--Thomas Sowell by chance??
A whole bunch of people around here need to spend sometime with that book.
My favorite is Milton Friedman’s “Free To Choose.” A little dated I guess, but very readable.
Capitalim by George Reisman
Well, I think that's a good start so I'm off to the library.
And, if you are really as analytic as you say, then I warmly invite you to a truly mind and life altering experience: the reading and digesting of Tom Sowell's "Knowledge and Decisions".
This book is a dense, white hot star of truth and insight. There are people who are willing to testify that this book changed their lives forever. I am one of these.
Another one to consider:
General Theory of Employment, Interest, and Money
by John Maynard Keynes
Why some folks think the way they do...
You have had many suggestions to read books by Thomas Sowell; all very good suggestions.
No only is Mr. Sowell great on economics, he’s a great thinker in many other ways and a very good writer.
When you read his books, don’t skip his “The Economics of Politics and Race”. http://www.tsowell.com/eco_poli.htm
I would add that Keynes should come later, and used more as an example of what ~not~ to think about economics.
Not that Keynes wasn’t brilliant. He was. Or that he was always wrong... he wasn’t. But he was wrong enough to screw up a whole lot of people.
Another vote for Sowell here. My 8th grade homeschooler will read Basic Economics and Applied Economics this year. Sowell is great. I took Econ in undergraduate and graduate school, and none of the somber, wordy texts I studied can hold a candle to Sowell in readability and making the complex understandable.
Thanks for the suggestions. I picked up Basic Economics at the library. I’ll start with it and then consider moving onto others.
I picked up Basic Economics. I’ll file card the others for future reading.
Many colleges are posting course materials online for free.
MIT’s list of Economics courses:
MIT’s Intro to Macroeconomics:
Carnegie Mellon’s free online course:
A free online textbook about introductory Economics:
Philistone has a pretty good list.
I’d drop Keynes: not relevant.
Monetary History is the single most important thing you can study. Milton Friedmn’s classic work taught Paul Volcker how to control inflation in 1979. Read it thoroughly and repeatedly.
Irving Fisher will teach you about interest rates and his book Theory of Interest is on the web.
The rest is arcane and not particularly valuable.
JB Say (Early 1800s) was the text America grew up with and is excellent. He corrects most of Adam Smith’s mistakes.
To understand the problems of enforcement costs, read Ronald Coase’s paper on Social Cost.
Armen Alchian wrote the classic textbook: University Economics.
Free To Choose - Milton Friedman
Basic Economics - Thomas Sowell
For some great articles, read Walter Williams:
I am beginning to understand that what drives people and their relationships, as well as nations and their relationships, both internat and external, is predominantly money.
Understanding this and guessing right makes it almost possible to predict the future.
Thanks for the suggestions. I'm halfway through Basic Economics.
I'm halfway through Basic Economics
If you read those two books, you will be ahead of 90% of the general public, including Congress. Then, you will begin to wonder why certain decisions are made the way they are in our government.
High school students should not be able to graduate without reading those books.
Two somewhat contradictory tomes would be “A Random Walk Down Wall Street” by Burton Malkiel (several different editions) and “The Rule 1 Investor” (the first rule being don’t lose money)
I've already discovered that they do so in their own best interests.
We're here to correct that, to be sure that you get yours from the rich that stole it from you. That's all you really need to know. Just keep pulling the lever for us.
The Democratic Party
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