Inspired by the recent 70th anniversary of Desert Island Discs, and by finishing Susan Hill’s delightful [amazon_link id=”1846682665″ target=”_blank” ]Howards End is on the Landing[/amazon_link], with a list of her 40 top desert island books, on this morning’s run with the dog I fell to reflecting about my Desert Island economics books. Difficult. Do you choose books that will take ages to read, to keep you going, or ones that bear re-reading, or classics, or books that cover a wide spread of material? Anyway, to kick of the parlour game, here are my eight choices. Hope everyone enjoys drawing up their own list!
1 [amazon_link id=”0198751729″ target=”_blank” ]A Treatise of Human Nature[/amazon_link] by David Hume. My founding text. Understanding the social choices we make by understanding our place in the natural and physical world.
[amazon_image id=”0140432442″ link=”true” target=”_blank” size=”medium” ]A Treatise of Human Nature: Being an Attempt to Introduce the Experimental Method of Reasoning into Moral Subjects (Penguin Classics)[/amazon_image]
2 [amazon_link id=”0691152640″ target=”_blank” ]This Time is Different[/amazon_link] by Carmen Reinhart and Ken Rogoff. A history of debt crises, an instant classic and still relevant for our times (although not perhaps on an island cut off from the financial markets).
3 There has to be a good, chunky economic history but which one? Greg Clark’s [amazon_link id=”0691141282″ target=”_blank” ]A Farewell to Alms[/amazon_link]? Jared Diamond’s [amazon_link id=”0099302780″ target=”_blank” ]Guns, Germs and Steel[/amazon_link]? Joel Mokyr’s [amazon_link id=”0691120137″ target=”_blank” ]Gifts of Athena[/amazon_link]? [amazon_link id=”0691090106″ target=”_blank” ]The Great Divergence[/amazon_link] by Kenneth Pomeranz? Or [amazon_link id=”0349111669″ target=”_blank” ]The Wealth and Poverty of Nations[/amazon_link] by David Landes? I’ll choose later.
4 A biography of Keynes. Either Roy Harrod’s [amazon_link id=”B006KKQ7HO” target=”_blank” ]Life of John Maynard Keynes[/amazon_link] or the recent [amazon_link id=”0674057759″ target=”_blank” ]Capitalist Revolutionary[/amazon_link] by Roger Backhouse and Bradley Bateman. Hmm, another difficult choice.
[amazon_image id=”0674057759″ link=”true” target=”_blank” size=”medium” ]Capitalist Revolutionary: John Maynard Keynes[/amazon_image]
5 [amazon_link id=”1846141478″ target=”_blank” ]The Idea of Justice[/amazon_link] by Amartya Sen. Michael Sandel’s forthcoming book about the limits of markets, [amazon_link id=”184614471X” target=”_blank” ]What Money Can’t Buy[/amazon_link], might challenge it – we’ll see.
6 What to choose from the huge field of development economics? This field is moving rapidly but at present it would have to be Banerjee and Duflo’s [amazon_link id=”1586487981″ target=”_blank” ]Poor Economics[/amazon_link].
7 [amazon_link id=”0262012766″ target=”_blank” ]Lives of the Laureates[/amazon_link]. In which winners of the Nobel memorial prize explain their work and their motivations – there are several volumes, so maybe I can count them all as one book. Or [amazon_link id=”0691148422″ target=”_blank” ]Economics Evolving[/amazon_link] by Agnar Sandmo, a terrific history of economic thought. Another late packing choice to be made.
8. There’s a vast array of books on institutions and technology and growth. I’ll tentatively pick Oliver Williamson’s [amazon_link id=”068486374X” target=”_blank” ]The Economic Institutions of Capitalism[/amazon_link] for a thorough grounding.
I’ve had to omit all the terrific financial crisis books – maybe I can slip my old friend Andrew Lo’s fascinating and useful review (pdf) of 21 of these titles into my suitcase.
Birth of Plenty – William J. Bernstein
Ooh, I don’t know that one.
It’s a must read. Beautifully written. Covers the history of the modern Western world and the conditions that allowed for its spectacular growth – property rights, capital markets, etc. You can extrapolate to the present day and see examples of countries where not all conditions are met and the different ways that things go wrong ie: Zimbabwe or Venezuela. Give it a try!
I look forward to trying to get through a few of them over the next few months, thanks for the list!
On my list would be “Reinventing the Bazaar” by John Macmillan
I agree that it’s excellent but not sure it will make my top 8….
– Irrational Exuberance by Robert Shiller
– Lords of Finance by Liaquat Ahamed
– Guns Germs and Steel by Jared Diamond
– Collapse by Jared Diamond
– Fooled by randomness by Nassim Taleb
– justice by Michael Sandel
All great choices – you have two more slots left. I would need more variety among my titles, and you also have to bear in mind that you might be reading them for a long time…. The Taleb books reminds me about Peter Bernstein’s Against the Gods, which is a real contender.
Manias Panic and Crashes by Charles Kindleberger and, strage enough ! , Tomorrow’s Gold by Marc Faber. If you consider that Faber wrote this book in 2001 ….. He is not an economist but was really a visionary on Gold, Credit and more…….
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Against the Gods is an excellent history of risk. Love it!