My favorite book for “the history” of economics is ‘Economic Thought: A Brief History’ by Heinz D. Kurz. I had to read it for a class in my undergrad and really enjoyed it!

Pikkety "Capital and Ideology" Richard Wolffs "Democracy at Work"

Free to choose

Is Mankiw's "Macroeconomics" not a thing?

you probably dont care but does any of you know of a trick to get back into an instagram account?? I was stupid forgot my account password. I would love any help you can offer me!

Book with only one argument, politics bad, could fit whole book into one article.

@@nexe9468 the idea wasn't to show how logical and strong the argument is that there is the need to put it into a book?

I felt the book was very repetitive. After a point, I had to drop reading it. Felt like a drag.

​@@ozman06yeah it focuses too much in the srgument that week institutions are the problem

Best educational idea I've heard in a long time 👊🏽

no. Economics is a social science STEM not

@@juanandresfernandez4017 Yet there are some amount of math and statistic in it

​@@rudolfire2254there's some amount of math and statistics in all social sciences, economics just comparatively has more than them. Doesn't make it not social science

I disagree so much I think there’s too much Math in Economics

I'll be adding a lot of economic development content soon, and part of that will include history.

@@MarketPowerYT Make sure you inclue Yi Wen's "The Making of an Economic Superpower" paper. It's as long as a book, so it could count as one (kinda), but it goes into a lot of layman-friendly detail about how China's reforms in the late 1970s paved the way for its current meteoric rise to wealth and power. Another recommended book is Acemoglu and Robinson's "How Nations Fail".

@@americanhero8606 I had not read Wen's article, but it looks interesting!

libgen has all of them

thank you

Basic Economics by Thomas Sowell.

thansk very much

@@johannesschutz780 what is libgen?

Thanks for that feedback! Which topics would you like covered?

I put Freakonomics in my video on books that made me fall in love with economics. The Great Escape is an awesome introduction to development economics.

@@MarketPowerYT I saw it later. As you I fell in love with Economics after read the two books by Levitt and Dubner. I would also say that The Signal and the Noise should be a MUST for anyone who is interested in research

It's a very basic book which often misinterprets the history and the character of economic thought, particularly due to his treatment of Keynes and socialist economics. It is extremely well written, but there are far more reliable and better accounts of economic history.

​@@waterbloom1213 name em

Thanks for that suggestion! Finance is a big weakness for me, so I should probably look into this.

J

Which one is easy to understand?

@@sahilmanocha Start with "I, Pencil"--it's just an essay. Then you could read "Economics for Real People" or "Economics in One Lesson."

Farewell to Alms is Greg Clark!

@@MarketPowerYT My bad!

I appreciate the support! Hopefully we'll see growth soon.

Talks too much and doesn't get to the point. "Maybe you just starting your economics education blah blah blah" just tell me about the 5 books.

Basic economics is definitely a winner. Sowell's philosphy oriented books are even more amazing.

Mises gang!

Milton Friedman should be there. Even if you don't like Monetarism

SO it depends on what your goal with studying economics is. Most kids at 20 are spending a lot of money on college to invest in improving their future careers. They spend money on tuition and take a lot of their time with the expectation that they'll get a future return on their investment. Are you trying to invest in a career? Will you have time to realize a return on that investment? Or you might be taking classes as a consumption good. You're just taking classes for the joy of learning and you're not worried about whether it improves your salary. If that's the case, going to school is the same as going to Disneyland. It costs a fortune, but you're doing it for the experience. You could probably learn what you're interested in through reading at home and watching KZfaq videos. Are you on twitter? You can learn a lot from following the right people on twitter. Say hi to me: marketpoweryt.

@@MarketPowerYT I suppose it's a little bit of both. I'm slightly worried in this environment that I don't have a degree but I do have a good job. I'll tag you on Twitter as I'd love to see more people to follow. Just found the book club post and am hoping to get caught up on there! Thanks again

@@Lamilmls Hey justin! How's your journey of learning economics going? Is there any piece of advice for a beginner like me?

very honest and good advice. But I guess going to school would provide the discipline and schedules to follow what to read and study with tests and exams. @@MarketPowerYT

I like In Fed We Trust. It talks about 2008 in the context of both the Panic of 1907 and the Great Depression. I haven't read Fragile by Design by Calomiris and Haber, but Calomiris is one of the leading experts on banking panics.

I couldn't agree anymore. Don't forget applied economics too. Thats another gem of a book he wrote. I read almost all of Sowells books, you can't get wrong.

Not a good book or author

So well is one of the most politically motivated economists of our time

I’ve not read sowell, but listened to lots of interviews or lectures. Most people I’ve found that hate sowell or Hayek or rand etc say they’re poor authors and outliers or extremists. In reality it’s Keynesians that have simply taken over the world basically through academia as it’s governments that fund university and governments are funded and rely on inflation and central banks. You may hate these authors but it’s most likely you hate Austrian economics and that you believe we need fiat currency and an all knowing group of bankers to set interest rates and banish recessions forever. I for one think that as modern economists that are popular like bernanke maybe like bernanke actions worked short term and heck he got a noble prize for it, but democrats and republicans need to admit that QE etc just is promoting wealth inequality. We don’t need more taxes etc to solve disparities. Rather we need to have governments let rich people go bankrupt and that’d dramatically reduce wealth inequality using actual free markets. Bad debt buildup and no recessions is like a forest with no wildfires. After a century of fires being put out now we have massive fires that burn so hot it kills most of the trees. Like 20% of all sequoias that are four feet wide have died in the last ten years!!! Poor management has devastating consequences. Anyways ya modern monetary theory and democrats and republicans thinking we can fund endless war or subsidize europe forever and then also pay social security etc without consequences it’s like ya if that pull that landing off without any dire consequences I’ll be surprised.

Another horrible author that speaks facts and history is Murray rothbard and his book US monetary history or something. It’s on KZfaq. Another horrible book that people shouldn’t read is the creature from Jekyll island.

@@koltoncrane3099cry less. Soơell’s my bitch

I was not a huge fan of Good Economics. I don't think in 10 years we will still be reading it like we do Poor Economics. But if you want to read it, don't do the audiobook. The best part of the book was how they surveyed the research, so that bibliography is valuable if you want to read more on the topics.

@@MarketPowerYT I've been finding that out with serval of the audiobooks I have. You can't check the research with an audiobook as easily. I'll give "Poor Economics" a go! And I'll get myself a hard copy!

I LOVE Doug Irwin's book Clashing Over Commerce. The first chapter alone taught me more about trade policy than my semester on the topic in grad school.

@@MarketPowerYT thank you! I thought about Free Trade Under Fire as well from that author and Straight Talk About Trade by Rodrik! I understand Irwin is a free trade defender. I'd also like to read a protectionist author, to have both sides of the story!

@@rorylane4069 Irwin is very fair to the protectionist side, if I recall correctly. His is more on the history of trade, so he goes through the protectionist period in the US.

The economists you cite are fine, but most of them (except McCloskey) are dealing with modern policy issues most of the time. Those three are also in weird stages where they're making much more ideologically-motivated arguments. Like Krugman did tons of good work on trade theory, but now he mostly writes invective for NYT. If you're interested in picking up economics, and if they're covering topics you're interested in, then go for it. It's better than nothing. I'm not sure if the reason you're interested in those economists is because of their work on inequality, but if that's the case there are better writers. I would recommend "Innovation + Inequality" by Josh Gans and Andrew Leigh. They write a balanced view on inequality with reasonable policy recommendations. If you're interested in some of the recent history behind inequality, check out "The Race between Education and Technology" by Claudia Goldin and Lawrence Katz. The Middle Ages! Caveat: Middle Age is way outside of my realm. But I have heard good things about Sheilagh Ogilvie's "The European Guilds: An Economic Analysis". Jared Rubin's "Rulers, Religion, and Riches: Why the West Got Rich and the Middle East Did Not" was well-received; it covers that time period, but you'll want to read the summary to see if you're interested. Joel Mokyr looks at the transition from Medieval times to Enlightenment, and everyone loves his books.

@@MarketPowerYT I've heard of Sheilagh Ogilvie! I haven't read her book yet, but I do own it on kindle. I know she takes issue with Steven A. Epstein, so I think I'd want to read him first; from what I can tell Epstein espouses a history of Medieval guilds much closer to what I was taught. That's why I found Ogilvie's argunent so interesting -- I haven't read beyond the intro... Thank you for the recommendations! I'll check those guys out. I was going to look at Freakonomics first though since it's a book I already own -- I should have mentioned it above. But thanks!

library genesis

The austrian school is basically the flat earthers of economics.

@@kattenelvis1778 explain yourself

@@zanta9999999 Basically, they believe that private property rights is something that just exists, or comes up naturally through trade between individuals, but it's actually a governmental edict. In the 1600s private property was invented by governments so safeguard corporations and protect themselves. I also find that the austrian school can't account for things like environmental destruction because of corporate profits, or other negative externalities. Profits and trade without restriction will eventually lead to many people or animals getting hurt, which is why we have government regulation to prevent it.

@@kattenelvis1778 that would be Marxism which is flat earth of economics. Austrian economics gave us marginal revolution and Hayek's many principles were Influential in neoclassical thought as well. The economic calculation problem and Knowledge problem is something socialists haven't solved to this day.

@@gabbar51ngh What are you talking about a guy won a nobel prize because he solved the economic calculation problem his name is Leonid Vitalyevich Kantorovic.

The Screwing of the Average Man by David Hapgood

Wi

I'm glad you found it too!

I think this one is excellent. kzfaq.info/get/bejne/rceGpq-esMjbpmQ.html

For econometrics, it depends where you are. If you've never seen econometrics, go to Mastering Metrics. If you have some experience, try Mostly Harmless Econometrics. Both are by Josh Angrist. Honestly, the most important thing you can do preparing for a PhD is to starting reading on the topic you're interested in and see what the unanswered questions are.

@@MarketPowerYT I am very grateful to you.

"Macroeconomics" (2019) by Mitchell, Wray and Watts.

Not sure about financial management, but for engineering you should look at Building the Skyline by Jason Barr.

@@MarketPowerYT ohkk Thank You! :)

Mankiw is a classic for intro economics. Cowen and Tabarrok is another.

You'll really love MMT when it causes our next great depression. It's not really a new idea it's just old repackaged crap.

Don't do the Wealth of Nations. It's a hard read and some of his conclusions are wrong. What topics in economics interest you?

@@MarketPowerYT I have mix of interest in development economics, principles/laws/models of economics that can be applied in real world and economic theories

@@MarketPowerYT plss suggest some book (waiting for your reply)

@@manavtiwari6277 The Great Escape is a good development economics book. A good book that combines theory, real world economics, and economic history is Clashing Over Commerce.