Hello: I discovered that I know virtually nothing about economics and economic theory.
What 5 books should I read to get some basic understanding. Thanks.
I’m sure others will come along with more serious suggestions, but Eat the Rich by humorist P.J. O’Rourke actually does a decent job in its early chapters of laying out basic economic theory. And it’s funny, too.
N.B.: O’Rourke is an unabashed libertarian, so he leans heavily towards minimal government regulation of markets. Bear that in mind and understand there are other points of view.
A good, VERY readable summary of modern economic thinking can be found in a book called, “New Ideas From Dead Economists”. Can’t remember the author offhand.
For common-sense layman’s free market economics, I strongly recommend “Free To Choose” by Milton and Rose Friedman.
“The Wordly Philosophers” by Heilbroner is very well thought of. It summarizes the theories of the economic heaveweights of yore.
My favorite:
The Armchair Economist- It puts economic theory into real world settings- really good stuff.
But any intro Principles class text book will do- just how far do you want to go?