Welcome to our list of the top 10 economic books for 2023. Whether you’re a beginner looking to learn the basics of economics or a seasoned pro looking to delve into more advanced topics, this list has something for everyone.
Economics in One Lesson by Henry Hazlitt
This classic book provides a no-nonsense introduction to economic theory, the intersection of government and the economy, and the importance of the free market. Written in 1946, it has since sold more than a million copies, a testament to the staying power of Hazlitt’s lessons.
Freakonomics by Steven Levitt and Stephen Dubner
This bestselling book tackles everyday questions and explores the answers through the lens of an economist. While the questions may sound a bit out there — think “What’s more dangerous, a gun or a pool?” or “How much do parents really matter?” — the answers tell us a lot about what incentives us as people, how we make decisions, and call into question conventional wisdom.
Thinking Fast and Slow by Daniel Kahneman
This book delves into the human mind and the two systems that power everything — one fast, one slow — and how these two systems are responsible for everything from overconfidence in the workplace to cognitive bias to how we make decisions on where to vacation next. Kahneman takes it a step further, delving into when to trust our intuitions and when not to, and how to avoid common pitfalls when making decisions in both our personal and professional lives.
Capital in the Twenty-First Century by Thomas Piketty
This New York Times and Wall Street Journal bestseller offers an unparalleled take on the history of wealth inequality in both Europe and the United States, and the havoc that such inequality can wreak. The book explains, in no uncertain detail, that when the rate of return in a country is greater than the rate of economic growth, wealth inequality will continue to flourish — and not in a good way.
Common Sense Economics by James Gwartney, Richard L. Stroup, and Dwight R. Lee
Written by top economists, this book answers any beginner’s pressing questions on economics, from how an economy works to redistribute wealth. In addition to explaining important economic concepts like supply and demand, trade, and private ownership, this book explains why an understanding of economics is important — and does so in clear, easy-to-understand prose.
The Road to Serfdom by F. A. Hayek
First published in 1944, this book has been established as something akin to the gospel in the world of economic writing. Hayek’s work serves up what was then a controversial warning against state control over the production of goods. It has sold more than 400,000 copies and has been translated into more than 20 languages.
Misbehaving: The Making of Behavioral Economics by Richard H. Thaler
This book turns classic economic theory on its head, denouncing the idea that much of economic theory is based on — the behavior of rational actors. In other words, us. According to Thaler, people are predictably irrational, and this book explores the implications of that idea on everything from the stock market to the workplace to our personal lives.
The Price of Inequality by Joseph E. Stiglitz
This book explores the causes and consequences of income inequality in the United States, and offers ideas on how to address this growing problem. Stiglitz, a Nobel laureate in economics, presents a compelling argument that income inequality is not only unfair, but it also hinders economic growth and stability.
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