Economic book suggestions

[ZirconBlue]

I really enjoyed The Undercover Economist by Tim Harford.

Reading it won't feel like homework.

It is an enjoyable read, but I'm not sure it covers the areas asked for in the OP. I don't recall much about inflation, etc. in it.

 

[The True Scotsman]

I second Mankiw (mainly his "Principles of Microeconomics" as that is the only textbook by him that I've read).

By the way, to answer your question, I would go with a textbook over anything else if you are looking to get an overview of the field.

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[kevinquinnyo]

OK, it will stay on based upon your recommendation.

Please keep it on your list!

 

[stilicho]

Is this an objective, non-partisan book?

I'd still stick with a very basic set of Macroeconomics and Microeconomics textbooks and the supplements or workbooks. Do the homework too. It won't take you more than about 100 hours to do all the work and they provide you with the answers. You can do most of it with your desktop calculator.

I wouldn't start out with a political/economic book such as Freakonomics, Wealth and Poverty, or The New Industrial State. Those are worthwhile reading, of course, but they won't teach you about economics.

After completing the texts, I always recommend Thorstein Veblen's Theory Of The Leisure Class, and some survey histories of economic and commercial developments in the 19th and 20th century. There are also some decent histories of the development of corporations and although I cannot remember the names of them off the top of my head, you can look up the history of the VOC (aka Dutch East India Company)--one of the earliest and most successful international commercial concerns of all time. I've also read some histories of the HBC (Hudson's Bay Company), founded in the same era as the VOC and one of the key components in the development of Canada.

It really depends on your approach to economics but I still approach it as I do science--from an historical and developmental perspective. Yours might be different, of course.

 

[Bluefire]

Economics in One Lesson by Henry Hazlitt was very good.

This.

 

[Gregoire]

I'd like to hear some recommendations for an introductory Economics book for morons, one that explains some of the foundations to a Interest rate-inflation-credit rating-recession virgin like I.

Should I get a textbook or a less studious, more friendly book?

I agree that a basic textbook (without an agenda) is the first place to start. It is always best, in my opinion, to begin studying this particular field with a dispassionate analysis. It seems everyone on the street thinks they understand economics, regardless of their education on the subject. Even journalists who cover economic issues seem to misunderstand it at times.

(And it goes without saying politicians of all persuasions seem to have trouble with it too.)

Other books mentioned here may be helpful later, but there is usually a political agenda they will push which may be confusing.

Economics in One Lesson is a classic, albeit dated. It fits in with this forum's goal to foster critical thinking in that Hazlett demonstrates how many people on the street misinterpret economic phenomena using logical fallacies. That being said, Hazlett too has his own agenda, but is still worth reading once you have already studied economics from a textbook.


And then, of course remember Thomas Sowell once said something like:

"The first law of economics is there is an infinite amount of wants, but a finite amount of resources.

The first law of politics is to ignore the first law of economics."

 

[Gregoire]

Harford has a slew of books that are easily accessible. You might also try The Armchair Economist by Steven Landsburg

As I recall this book also discussed logical fallacies made by people on the street when they criticized economists or misinterpreted economic phenomena. There was also a discussion on the whole concept of discriminatory pricing I had not seen elsewhere.

Again, I would consider this book only after reading about the basics in a text book.

 

[Undesired Walrus]

Economics in One Lesson is a classic, albeit dated. It fits in with this forum's goal to foster critical thinking in that Hazlett demonstrates how many people on the street misinterpret economic phenomena using logical fallacies. That being said, Hazlett too has his own agenda, but is still worth reading once you have already studied economics from a textbook.

Yea, I heard of that, but was put off when I heard Ron Paul endorse it.