100 Best Economic History Books of All Time
We've researched and ranked the best economic history books in the world, based on recommendations from world experts, sales data, and millions of reader ratings. Learn more
Is it culture, the weather, geography? Perhaps ignorance of what the right policies are?
Simply, no. None of these factors is either definitive or destiny. Otherwise, how to explain why Botswana has become one of the fastest growing countries in the world, while other African nations, such as Zimbabwe, the Congo, and Sierra... more
Mark ZuckerbergMy next book for A Year of Books is Why Nations Fail by Daron Acemoğlu and James A. Robinson. This book explores the different kinds of social institutions and incentives that nations have applied to encourage prosperity, economic development and elimination of poverty. This is a good complement to our last book, Portfolios of the Poor, which focused on how people live in poverty. This one... (Source)
Bill Gates"I read two books that raise big, interesting questions about social change and technological progress. I’m planning to write longer reviews of each of these books, but let me flag them for you now. One is Why Nations Fail: The Origins of Power, Prosperity, and Poverty by Daron Acemoglu and James A. Robinson.The topic of this book is why some countries have prospered and created great living... (Source)
George MagnusThe role of institutions is really important for societal development. (Source)
Michael Lewis creates a fresh, character-driven narrative brimming with indignation and dark humor, a fitting sequel to his #1 bestseller... more
Sheryl SandbergMichael Lewis's ability to boil down the most complicated subjects is like a magic trick. You can't believe your own eyes. He takes on important issues - from the 2008 Wall Street crash in "The Big Short" to parenting in "Home Game" - and breaks them down to the deepest truths. His combination of an extraordinarily analytical mind and a deep understanding of human nature allows him to weave... (Source)
Tim HarfordIf I had any criticism of the book, it’s that he makes it seem too obvious. It becomes mysterious how anyone could have been confused. (Source)
David Heinemeier HanssonA good one. (Source)
Bill GatesFascinating.... Lays a foundation for understanding human history. (Source)
Yuval Noah HarariA book of big questions, and big answers. The book turned me from a historian of medieval warfare into a student of humankind. (Source)
Bill GatesCapital sparked a fantastic global discussion this year about inequality. Piketty kindly spent an hour discussing his work with me before I finished my review. As I told him, although I have concerns about some of his secondary points and policy prescriptions, I agree with his most important conclusions: inequality is a growing problem and that governments should play a role in reducing it. I... (Source)
David Heinemeier HanssonThis is the book that was catapulted by its conclusion: r > g. That the rate of return on capital is greater than the growth rate of the economy. Which means that capital, and the people who own it, will end up with a larger and larger share of all wealth and income in the economy as time goes on. It’s a dense dive into the historical data on wealth, income, and economic growth from the optic of... (Source)
George MonbiotPiketty explains the economic crisis that we face in ways that also explain the political crisis. He does this by talking about the rise of what he calls ‘patrimonial capital’: wealth arising from inheritance, rent, and interest payments which greatly outweighs any wealth arising from hard work and enterprise. (Source)
Max Levchin[Max Levchin recommended this book as an answer to "What business books would you advise young entrepreneurs read?"] (Source)
Muhtar KentCEO considers it a great read. (Source)
In the century after the Civil War, an economic revolution improved the American standard of living in ways previously unimaginable. Electric lighting, indoor plumbing, motor vehicles, air travel, and television transformed households and workplaces. But has that era of unprecedented growth come to an end? Weaving together a vivid narrative, historical anecdotes, and economic analysis, The Rise and Fall of American Growth challenges the view that economic growth will continue... more
Bill GatesI did find his historical analysis, which makes up the bulk of the book, utterly fascinating. (Source)
Brad FeldThe Rise and Fall of American Growth: The U.S. Standard of Living since the Civil War: This book was a grind, but it had a lot of good stuff in it. It’s only 784 pages so it took more than a day to read it. If you are trying to understand what is going on in the current American economy, and why the future will not look like the past, this is a good place to start. (Source)
Satya NadellaCovering everything from the combustion engine to the flush toilet—and judging recent breakthroughs with a skeptical eye—this work of economic history “concludes that innovation is the ultimate source of dramatic improvements in the human condition,” says Nadella. (Source)
Diane CoyleThe Wealth And Poverty of Nations is one of several really fantastic economic history books of recent times. (Source)
Sean TurnellIt’s the most erudite examination of what causes economic development and growth that’s been written in many decades. (Source)
Satya Nadella"My father recommended this book long ago,” says Nadella of the 1944 classic by a Hungarian-American writer who chronicles the development of England’s market economy and argues that society should drive economic change. (Source)
Mark BlythA story which stretches from 1815 to 1914. He says it was 100 years of peace, although that’s not actually true because if you were a colonial subject it was hardly peaceful. (Source)
Dani RodrikIt makes a rather important point, that the economy has always been embedded in society, and when we try to disembed it from society and treat it like an independent institution, then we’re really going to run into trouble. (Source)
In a bold new concluding chapter entitled “The End of the Worldly Philosophy?” Heilbroner reminds us that the word “end”... more
Erik Brynjolfsson@AndrewWLo @DianeCoyle1859 Great book. I read it in high school and it kind of turned into an economist (Source)
Heidi N. Moore@VarickBoyd @JeSuisBHL Ah well, I thought you were a veteran of this world, my error. Enjoy the book! It's fantastic. (Source)
Andrew W LoThis book really opened my eyes to the fact that there’s some very deep and beautiful logic underlying the economy, and financial markets and institutions especially. (Source)
In April 1956, a refitted oil tanker carried fifty-eight shipping containers from Newark to Houston. From that modest beginning, container shipping developed into a huge industry that made the boom in global trade possible. "The Box" tells the dramatic story of the container's creation, the decade of struggle before it was widely adopted, and the sweeping economic consequences of the sharp fall in transportation costs that containerization brought about.
Published on the fiftieth anniversary of the first container voyage, this is the first comprehensive history of the shipping... more
Bill GatesI picked this one up after seeing it on a Wall Street Journal list of good books for investors. It was first published in 1954, but it doesn’t feel dated (aside from a few anachronistic examples—it has been a long time since bread cost 5 cents a loaf in the United States). In fact, I’d say it’s more relevant than ever. One chapter shows you how visuals can be used to exaggerate trends and give... (Source)
Tobi LütkeWe all live in Malcolm’s world because the shipping container has been hugely influential in history. (Source)
Jason ZweigThis is a terrific introduction to critical thinking about statistics, for people who haven’t taken a class in statistics. (Source)
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The Prize is as much a history of the twentieth century as of the oil industry itself. The canvas of history is enormous -- from the drilling of the first well in Pennsylvania through two great world wars to the Iraqi invasion of Kuwait and Operation Desert Storm. less
Bill Gates[On Bill Gates's reading list in 2012.] (Source)
Chris GoodallA wonderfully readable history of the development of the oil age. (Source)
Every economics textbook says the same thing: Money was invented to replace onerous and complicated barter systems—to relieve ancient people from having to haul their goods to market. The problem with this version of history? There’s not a shred of evidence to support it.
Here anthropologist David Graeber presents a stunning reversal of conventional wisdom. He shows that for more than 5,000 years, since the beginnings of the first agrarian empires, humans have used elaborate credit systems to buy and sell goods—that is, long... more
Seth GodinI recommend it in audio because David is sometimes repetitive and a little elliptical, but in audio it's all okay because you can just listen to it again. (Source)
David Heinemeier HanssonAfter a few false starts, I finally got going with this, and what a treat. It shoots down the common myth that prior to money, everyone just bartered shit. I give you a pig, you give me five pies and a hat. Evidence shows that just wasn’t at all how things went. Most societies were structured either rather communistic (take what you need, give what you can) or with a loose debt-ledger system (or... (Source)
Will DaviesWhat’s stunning about the book is how it brings an anthropological perspective to bear on such an expansive history and geography, bringing the story right up to the present day, at the precise moment when debt has become a hugely political, mobilizing and destabilizing issue. Its central argument is simple and easy to grasp, and has been seized by activists and critics of the financial sector. (Source)
"A magisterial work...You can't help thinking about the economic crisis we're living through now." --The New York Times Book Review
It is commonly believed that the Great Depression that began in 1929 resulted from a confluence of events beyond any one person's or government's control. In fact, as Liaquat Ahamed reveals, it was the decisions made by a small number of central bankers that were the primary cause of that economic meltdown, the effects of which set the stage for World War II and reverberated for decades. As... more
Barry RitholtzIt covers a 50-year period from before World War I and leading up to World War II. Even if you’re not interested in finance, it’s a great read. (Source)
David J LynchLords of Finance gives you that alternative history, particularly through the inter-war years from the end of World War I into the Great Depression. (Source)
Robert Iger became CEO of The Walt Disney Company in 2005, during a difficult time. Competition was more intense than ever and technology was changing faster than at any time in the company's history. His vision came down to three clear ideas: Recommit to the concept that quality matters, embrace technology instead of fighting it,... more
Brian CheskyBob's book is great and he's an excellent CEO. (Source)
Brené BrownI expected a book written by the person who has led Disney for decades to be defined by both gripping storytelling and deep leadership wisdom. [The author] delivers, and then some! [This book] is leadership gold—you won’t forget the stories or the lessons. (Source)
Karlie Kloss[Karlie Kloss] says [this book] really inspired her to become a better boss. (Source)
Barack ObamaObama, unsurprisingly, appears to be more drawn to stories sympathetic to the working classes than is McCain. Obama cites John Steinbeck’s “In Dubious Battle,” about a labor dispute; Robert Caro’s “Power Broker,” about Robert Moses; and Studs Terkel’s “Working.” But he also includes Adam Smith’s “Wealth of Nations” and “Theory of Moral Sentiments” on his list. (Source)
Neil deGrasse TysonWhich books should be read by every single intelligent person on planet? [...] The Wealth of Nations (Smith) [to learn that capitalism is an economy of greed, a force of nature unto itself]. If you read all of the above works you will glean profound insight into most of what has driven the history of the western world. (Source)
“We’ve got to get some foam down on the runway!” a sleepless Timothy Geithner,... more
Bill Gates[On Bill Gates's reading list in 2011.] (Source)
Max Levchin[Max Levchin recommended this book as an answer to "What business books would you advise young entrepreneurs read?"] (Source)
John LanchesterThis is a minute-by-minute account of how the whole financial system nearly went over the brink in 2008, and the astonishing sense of tension and danger involved. (Source)
Financial crises and speculative excess can be traced back to the very beginning of trade and commerce. Since its introduction in 1978, this book has charted and followed this volatile world of financial markets. Charles Kindleberger's brilliant, panoramic history revealed how financial crises follow a nature-like rhythm: they peak and purge, swell and storm. Now this newly revised and expanded Fourth Edition probes the most recent "natural disasters" of the markets--from the difficulties in East Asia and the... more
Larry SummersKindleberger’s message is that complacency can be a self-denying prophecy. (Source)
Marc FaberHe describes very well how these manias occur and what the symptoms are of manias in terms of excessive speculation, overleverage, borrowing, fraud, embezzlement, high trading volumes, and so forth. (Source)
Charles MorrisKindleberger’s great virtue is that he was both a respected economist and a student of human nature, and he knew that human nature could never be bottled up in an economic model. His book is a terrific narrative of a series of bubbles, going back to pre-industrial days – the Dutch tulip craze, the South Sea bubble, and so forth.. (Source)
Mark ZuckerbergFor the past five years, I've sat at a desk next to Sheryl and I've learned something from her almost every day. She has a remarkable intelligence that can cut through complex processes and find solutions to the hardest problems. Lean In combines Sheryl's ability to synthesize information with her understanding of how to get the best out of people. The book is smart and honest and funny. Her... (Source)
Oprah WinfreyHonest and brave... The new manifesto for women in the workplace. (Source)
Richard BransonIf you loved Sheryl Sandberg's incredible TED talk on why we have too few women leaders, or simply believe as I do that we need equality in the boardroom, then this book is for you. As Facebook's COO, Sheryl Sandberg has first-hand experience of why having more women in leadership roles is good for business as well as society. Lean In is essential reading for anyone interested in righting the... (Source)
Bill Gates[On Bill Gates's reading list in 2012.] (Source)
Francis FukuyamaReinhart and Rogoff are two macroeconomists who have done a marvellous job in bringing together a lot of historical and international data about how unstable financial systems are. The title of their book, This Time is Different, tells you the whole theme. In many respects, the Wall Street crisis was not at all different from Argentina or Britain in the early 1990s or any number of other crises... (Source)
Dambisa MoyoI think the more interesting story in This Time Is Different is what happens in the aftermath of bubbles, which links to what we were talking about before. In the case of the US, it’s still very reliant on tried and tested formulas to try to sort out economic busts – ie let’s just reflate this bubble by using relatively loose monetary policy and fiscal policy (think low interest rates, tax... (Source)
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Ryan HolidayA biography has to be really good to make read you all 800 pages. To me, this was one of those books. Since reading it earlier this year, I’ve since found out it is the favorite book of a lot of people I respect. I think something about the quality of the writing and the empathic understanding of the writer that the main lessons you would take away from someone like Rockefeller would not be... (Source)
Adam Townsend@Sociopathlete Great book (Source)
Anas Alhajji@Morg2006 Yep, I already have it. great book. (Source)
Mark ZuckerbergMy next book for A Year of Books is The Rational Optimist by Matt Ridley. Two of the books I've read this year -- The Better Angels of Our Nature: and Why Nations Fail -- have explored how social and economic progress work together to make the world better. The Better Angels argues for that the two feed off each other, whereas Why Nations Fail argues that social and political progress ultimately... (Source)
Bill GatesIts subject is the history of humanity, focusing on why our species has succeeded and how we should think about the future. (Source)
Marc AndreessenSparkling explanation of how the economy evolves, producing the glorious cornucopia of goods and services available all around us. How to feel good about the future even in dark times. (Source)
Cotton is so ubiquitous as to be almost invisible, yet understanding its history is key to understanding the origins of modern capitalism. Sven Beckert’s rich, fascinating book tells the story of how, in a remarkably brief period, European entrepreneurs and powerful statesmen recast the world’s most significant manufacturing industry, combining imperial expansion and slave labor with new machines and wage workers to change the world.... more
Kevin Gannon@Nutcase020 Great book! (Source)
Why are some parts of the world so rich and others so poor? Why did the Industrial Revolution--and the unprecedented economic growth that came with it--occur in eighteenth-century England, and not at some other time, or in some other place? Why didn't industrialization make the whole world rich--and why did it make large parts of the world even poorer? In "A Farewell to Alms," Gregory Clark tackles these profound questions and suggests a new and provocative way in which culture--not exploitation, geography, or resources--explains the wealth, and the poverty, of nations.
Countering... more
Rajiv ShahIt’s a very exciting book that shows how for hundreds, even thousands of years basic economic progress was largely stagnant. As economies were able to produce more food, populations grew. You didn’t have rapid compound increases in living standards until around 1800. Around then, the industrial revolution and its precursors created a massive divergence. Some countries and some societies got on a... (Source)
As historian Edward Baptist reveals in The Half Has Never Been Told, the expansion of slavery in the first eight decades after American independence drove the evolution and modernization of the United States. In the span of a single lifetime, the South grew from a narrow coastal strip of worn-out tobacco plantations to a continental cotton... more
Cory OndrejkaIt's a heart-wrenching but eye-opening look at the safe ways America looks back at slavery and its impact on modern capitalism. During an election cycle focused on populism and anger, this is a book every American should read. (Source)
Traditional economics assumes rational actors. Early in his research, Thaler realized these Spock-like automatons were nothing like real people. Whether buying a clock radio, selling basketball tickets, or... more
With a new Afterword addressing today’s financial crisis
A BUSINESS WEEK BEST BOOK OF THE YEAR
In this business classic—now with a new Afterword in which the author draws parallels to the recent financial crisis—Roger Lowenstein captures the gripping roller-coaster ride of Long-Term Capital Management. Drawing on confidential internal memos and interviews with dozens of key players, Lowenstein explains not just how the fund made and lost its money but also how the personalities of Long-Term’s partners, the arrogance of their mathematical certainties, and the...
Max Levchin[Max Levchin recommended this book as an answer to "What business books would you advise young entrepreneurs read?"] (Source)
John GapperThe Fed itself did not bail out LTCM, but it was worried enough to get a bunch of big banks into the room and say, “Would you care to chip in and save this thing?” Which they obligingly did – and then liquidated it. The Fed foresaw that the failure of a single big hedge fund could send shock waves through the entire financial system. The issue of systemic risk was highlighted. (Source)
Bregman shows that we can construct a society with visionary ideas that are, in fact, wholly implementable. Every milestone of civilization – from the end of slavery to the beginning of democracy – was once considered a utopian fantasy. New utopian ideas such as universal basic income and a 15-hour... more
Duan PavloviThank you @rcbregman for this great book! (I am writing a short review, but only in Serbian for a Serbian daily.) (Source)
Geoffrey Miller@bdmarotta No, The Road to Serfdom by Hayek is the best book on modern evil (Source)
Yuval LevinThe Road to Serfdom is a very polemical book. It was published in 1944. It’s a warning not exactly about Communism, but about the coming of statism in the West, about the ways that some of the governing élites that Hayek saw, especially in Britain, thought about governing. The book is really mostly about Britain. He talks about the dangers of central planning, of the attempt to take over the... (Source)
Mitch DanielsThis book convincingly demonstrated what was already intuitive to me: namely, the utter futility, the illusion of government planning as a mechanism for uplifting those less fortunate. (Source)
Professor Frank McdonoughChristmas is coming and if you want to give a thought-provoking book to that history fan in your life then the recent books by the brilliant @peterfrankopan will satisfy. Some write books, this guy changes perceptions. https://t.co/gWZWZnv5TN (Source)
Don't have time to read the top Economic History books of all time? Read Shortform summaries.
Shortform summaries help you learn 10x faster by:
- Being comprehensive: you learn the most important points in the book
- Cutting out the fluff: you focus your time on what's important to know
- Interactive exercises: apply the book's ideas to your own life with our educators' guidance.
From a prizewinning economic historian, an eye-opening reinterpretation of the 2008 economic crisis (and its ten-year aftermath) as a global event that directly led to the shockwaves being felt around the world today.
In September... more
Duncan WeldonI’ve read Crashed and it’s fantastic (review out next month). This is really useful framing. The financial crisis might seem like an unusual “next book” after Adam’s history of 1916-1931 (The Deluge)- but capital flows sit at the heart of both of them. https://t.co/obS3fTxMPX (Source)
John GapperThe book shows his talent as a popular economist. It’s not chiefly a work of economics, though it does analyse the causes of the Great Depression. It’s more a work of history, almost of journalism. For an academic, Galbraith writes unusually well. (Source)
Ronald Findlay and Kevin O'Rourke examine the successive waves of globalization and deglobalization that have occurred during the past thousand years, looking closely at the technological and... more
Dani RodrikThis is really a magisterial tour of the last thousand years of globalisation. (Source)
Stephen D KingWhat’s particularly good about this is the tremendous detail on the way in which different parts of the world used to trade with each other, and how it helps us to think about a world that wasn’t purely European, or European-plus-satellites focused. (Source)
Robert ReichAs you said, Braudel’s book is the second in this series. Civilization and Capitalism is a monumental undertaking. In these three volumes, Braudel did what no one else had attempted before and he did it more successfully than anyone I know of, that is to try to understand the beginning of capitalism – particularly the kind of capitalism that has now become dominant in the world, the capitalism... (Source)
Rajan shows how the individual choices that collectively brought about the economic meltdown--made by bankers, government officials, and... more
Francis FukuyamaHe accepts the fact that the crisis had multiple causes but he argues that redistribution done through subsidised lending is one of the most inefficient and dangerous ways to do redistribution. (Source)
George A. AkerlofFault Lines provides an excellent analysis of the lessons to be learned from the financial crisis, and the difficult choices that lie ahead. Of the many books written in the wake of our recent economic meltdown, this is the one that gets it right. (Source)
Robert J ShillerI admire this book because it’s not superficial. It goes for the ultimate causes of the economic crisis we’ve been through. Most people tend to focus in on something approximate. (Source)
Howard MarksSo good. (Source)
Jason ZweigIn the book, he explores risk at every conceivable level – what it is mathematically and what it is psychologically, how it has played out historically, how people have thought to measure it and also to control it. (Source)
John Lanchesterit’s an absolutely fascinating, for-the-layman account of how humanity mastered risk and came to understand probability. (Source)
In a vigorous discussion, Mokyr goes beyond the standard explanations that credit geographical factors, the role of markets, politics, and society to show that the beginnings of modern economic... more
Review
"[An] entertaining and greatly enlightening book . . . Bernstein is a fine writer and knows how to tell a great story well. . . .A Splendid Exchangeis a splendid book." —The New York Times
“Superb . . . [A] significant contribution . . . The chronological range... more
Henry Hazlitt wrote this book following his stint at the New York Times as an editorialist. His hope was to reduce the whole teaching of economics to a few principles and explain them... more
Ben Shapiro[If you read this book and "Basic Economics"] you'll know more than all or your classmates combined about the basic workings of free markets and economics. (Source)
Chris Nichols@fishin_me @IslesFGC @AsSeenOnTv55 @IlhanMN The best economic book written. (Source)
Remarkably, it was just two years ago that Enron was thought to epitomize a great New Economy company, with its skyrocketing profits and share price. But that was... more
Warren BuffettWell-reported and well-written. (Source)
Don't have time to read the top Economic History books of all time? Read Shortform summaries.
Shortform summaries help you learn 10x faster by:
- Being comprehensive: you learn the most important points in the book
- Cutting out the fluff: you focus your time on what's important to know
- Interactive exercises: apply the book's ideas to your own life with our educators' guidance.
In her new preface, Jane Mayer discusses the results of the most recent election and Donald Trump's victory, and how, despite much discussion to the contrary, this was a huge victory for the billionaires who have been pouring money in the American political system.
Why is America living in an age of profound and widening economic... more
Avi AsherschapiroWho could forget that great book of reportage, "Dark Money," about the shadowy mechanization of the Nurses Union & the Climate Change Youth Movement. (Source)
In August 1765, the East India Company defeated the young Mughal emperor and set up, in his place, a government run by English traders who collected taxes through means of a private army.
The creation of this new government marked the moment that the East India Company ceased to be a conventional company and became something much more unusual: an international corporation transformed into an aggressive colonial power. Over the course... more
Andrew AdonisAnyone who thinks there’s much good to say about the British Empire should read @DalrympleWill’s brilliant book on the East India Company. A long tale of plunder, extortion, war & murder Maybe the ‘dominions’ are different, but not for indigenous peoples of Australia & N Zealand (Source)
Carl Malamud@jamie_love I have. Wonderful book. (Source)
Ken JusterGreat to welcome renowned author @DalrympleWill to #RooseveltHouse. Excellent discussion with this warm and thoughtful writer about his new book “The Anarchy,” which broadens our understanding of India’s complex history. #CulturalDiplomacy https://t.co/va2FL5Uefy (Source)
Economic and other outcomes differ vastly among individuals, groups, and nations. Many explanations have been offered for the differences. Some believe that those with less fortunate outcomes are victims of genetics. Others believe that those who are less fortunate are victims of the more fortunate.
Discrimination and Disparities gathers a wide array of empirical evidence to challenge the idea that different economic outcomes can be... more
Francisco BethencourtBraudel was taking a global approach to the world between the 15th and 18th century very early on. (Source)
George MonbiotThe Shock Doctrine explains some of the mechanisms by which patrimonial capital acquires power and enhances its wealth. It’s a brilliant piece of work, and one of those rare books that changes the way you perceive the world. (Source)
Mat WhitecrossIt starts with the theory that moments of crisis have been utilised by the right wing in the US and other countries to manipulate people into following their agenda. (Source)
Donna DickensonNaomi Klein’s argument is that capitalism actually requires deliberately engineered shocks to the economic systems. (Source)
One economist has called Ha-Joon Chang "the most exciting thinker our profession has turned out in the past fifteen years." With Bad Samaritans, this provocative scholar bursts into the debate on globalization and economic justice. Using irreverent wit, an engagingly personal style, and a battery of examples, Chang blasts holes in the "World Is Flat" orthodoxy of Thomas Friedman and other liberal economists who... more
Michael LindThe three leading countries of industrial capitalism – the United States, Germany and Japan – developed by using techniques, as Ha-Joon Chang points out, that are the opposite of what are supposed to work. There are endless bestselling books about how the West developed and how it became rich. It’s a genre that says that if you just have democracy and government acts as an umpire and doesn’t... (Source)
Shortlisted for the 2018 Financial Times and McKinsey Business Book of the Year Award
From even the start of his fabled career, Alan Greenspan was duly famous for his deep understanding of even the most arcane corners of the American economy, and his restless curiosity to know even more. To the extent... more
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Branko MilanovicThis is the last work by perhaps the world’s foremost qualitative economic historian. (Source)
Don't have time to read the top Economic History books of all time? Read Shortform summaries.
Shortform summaries help you learn 10x faster by:
- Being comprehensive: you learn the most important points in the book
- Cutting out the fluff: you focus your time on what's important to know
- Interactive exercises: apply the book's ideas to your own life with our educators' guidance.
Mark BlythThe notion in the whole book is that it is far better for man to lord it over his bank balance than it is over his fellow man. (Source)
Will DaviesThe core question in Hirschman’s book is actually in its subtitle: ‘Political Arguments for Capitalism before Its Triumph’. Like Weber, Hirschman realised that, first, there is nothing natural about capitalism. (Source)
Robert J ShillerWhen we reflect on some of the horrors of capitalism, we have to consider that things could have been much worse if we didn’t have this system. Our fights would have been on real battlefields, rather than economic battlefields. (Source)
In his fifth work of nonfiction, Mark Kurlansky turns his attention to a common household item with a long and intriguing history: salt. The only rock we eat, salt has shaped civilization from the very beginning, and its story is a glittering, often surprising part of the history of humankind. A substance so valuable it served as currency, salt has influenced the establishment of trade routes and cities, provoked and financed wars, secured empires, and inspired revolutions. Populated by colorful... more
In the 1980s and 1990s many in the West came to believe in the myth of an East-Asian economic miracle, with countries seen as not just development prodigies but as a unified bloc, culturally and economically similar, and inexorably on the rise. In How Asia Works, Joe Studwell distills extensive research into the economics of nine countries—Japan, South Korea,... more
Bill GatesStudwell produces compelling answers to two of the greatest questions in development economics: How did countries like Japan, Taiwan, South Korea, and China achieve sustained, high growth? And why have so few other countries managed to do so? His answers come in the form of a simple—and yet hard to execute—formula: (1) create conditions for small farmers to thrive, (2) use the proceeds from... (Source)
"Thompson's book has been called controversial, but perhaps only because so many have forgotten how explosive England was during the Regency & the early reign... more
Harsh GuptaHave you read the 1491 and 1493 book series? About the discovery of Americas and what it meant. Fascinating stuff. Have been reading 1493 by Charles Mann on Kindle. (Source)
Tim @RealscientistsI highly recommend @CharlesCMann's fantastic book "1493: Uncovering the New World Columbus Created" for perspective on Andean potato history and its outsized influence on world history (see: Irish potato famine). https://t.co/soMV0uzawP (Source)
Louise FrescoCharles Mann has many interesting stories about many foods, but the main message is the importance of trade and the fact that there have been massive movements of foods backwards and forwards. (Source)
Employing DK's trademark visual approach, The Economics Book takes a frequently confusing subject and makes sense of it, clearly highlighting both... more
In Chernobyl, award-winning historian Serhii Plokhy draws on recently opened archives to recreate these events in all their drama, telling the stories of the scientists, workers, soldiers, and... more
Stephen BushIt’s just a really thrilling book, as well as being a really interesting history of that time. But the reason why I think it’s also a brilliant political book is fundamentally what Plokhii reveals in his writing, is that the failure of Chernobyl was fundamentally a failure of a political system, as well as a failure of a scientific system. (Source)
Kate BrownHe’s really good here at laying down the background of the disaster itself, the plant’s construction, the days leading up to it, the moments the accident occurred. He talks about the accident itself, the delay in informing the public, the censorship of news, the trial of the nuclear power plant operators who he thinks were treated as scapegoats, and the political outcomes of all this deception. (Source)
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How did the West overtake its Eastern rivals? And has the zenith of Western power now passed? Acclaimed historian Niall Ferguson argues that beginning in the fifteenth century, the West developed six powerful new concepts, or “killer applications”—competition, science, the rule of law, modern medicine, consumerism, and the work ethic—that the Rest lacked, allowing it to surge past all other competitors.
Yet now, Ferguson shows how the Rest... more
Rupert MurdochCan't wait to start reading Niall Ferguson's new book, Civilization, The West and the Rest. Bet lots to think about. (Source)
Dambisa MoyoWhat I found interesting and what I like about this book is the fact that Niall takes a very broad look at the East-West theme. When people are looking at this issue of East versus West, or West versus the Rest, they tend to focus either on politics (which is very important and we’ll talk about that when we discuss Richard McGregor’s book on the Chinese Communist Party) or on economics. But there... (Source)
The world is a better place than it used to be. People are healthier, wealthier, and live longer. Yet the escapes from destitution by so many has left gaping inequalities between people and nations. In The Great Escape, Nobel Prize-winning economist Angus Deaton--one of the foremost experts on economic development and on poverty--tells the remarkable story of how, beginning 250 years ago, some parts of... more
Bill GatesIf you want to learn about why human welfare overall has gone up so much over time, you should read [this book]. (Source)
David PillingThere are two strands to this book. Funnily enough, it has some overlap with the Hans Rosling book Factfulness because The Great Escape is actually the escape from poverty. The title comes from the movie of the same name, where some people escape from a German prisoner of war camp. His question is: is that good? They are now better off than the poor buggers left behind. So, with the inequality... (Source)
Globalization is a choice, not a fact. It is a result of policy decisions and the politics that shape them. Jeffry A. Frieden's insightful history explores the golden age of globalization during the early years of the century, its swift collapse in the crises of 1914-45, the divisions of the Cold War... more
Dani RodrikWhat’s very useful about it is that it underscores that economic globalisation is not inevitable (Source)
Beginning with a fascinating, concise history of technological progress, Mokyr sets the background for his analysis by tracing the major inventions and innovations that have transformed society since ancient Greece and Rome. What emerges from this survey is often... more
Ben Barata. Sukses dengan kariernya dan berkehidupan mapan, tapi masih merasakan kekosongan dalam hidupnya. Dan dia yakin kekosongan itu hanya bisa diisi oleh Jana, cewek yang menghilang tanpa jejak setelah hatinya dia injak-injak bertahun-tahun yang lalu. Dia bertekad untuk bertekuk lutut meminta maaf dan mendapatkan kesempatan kedua dengan Jana... Namun, bagaimana dia bisa melakukannya tanpa membuat Jana mengambil langkah seribu ketika melihatnya?
MEET THE HEROINE
Jana Oetomo. Ibu dari sepasang anak kembar yang bandelnya setengah... more
Is your investment in that new Internet stock a sign of stock market savvy or an act of peculiarly American speculative folly? How has the psychology of investing changed--and not changed--over the last five hundred years?
In Devil Take the Hindmost, Edward Chancellor traces the origins of the speculative spirit back to ancient Rome and chronicles its revival in the modern world: from the tulip scandal of 1630s Holland, to "stockjobbing" in... more
Liam MartinMax Weber Protestant Ethic, and Karl Marx's Capital had a huge impact on me. If you read Marx with a critical critique you can see that he's laid out a fantastic framework on how capitalism works, I do disagree with his core premise (capitalism being bad) so I took it as a great way to understand how I could operate inside of a capitalist economy. Weber on the other hand shows you exactly how to... (Source)
Will DaviesOne of the most famous and influential works of sociology ever written and one of the founding texts of economic sociology. I’ve always found it inspirational. (Source)
Don't have time to read the top Economic History books of all time? Read Shortform summaries.
Shortform summaries help you learn 10x faster by:
- Being comprehensive: you learn the most important points in the book
- Cutting out the fluff: you focus your time on what's important to know
- Interactive exercises: apply the book's ideas to your own life with our educators' guidance.
Unlike many economists, who present only one view of their discipline, Chang introduces a wide range of... more
Ella BottingA simple but in depth guide to economics that isn’t patronising. Always good to know about money & financial systems once you start earning! (Source)
I wait for new Smil books the way some people wait for the next 'Star Wars' movie. In his latest book, Energy and Civilization: A History, he goes deep and broad to explain how innovations in humans' ability to turn energy into heat, light, and motion have been a driving force behind our cultural and economic progress over the past 10,000 years.
--Bill Gates, Gates Notes ,... more
Bill GatesSmil is one of my favorite authors, and this is his masterpiece. He lays out how our need for energy has shaped human history—from the era of donkey-powered mills to today’s quest for renewable energy. It’s not the easiest book to read, but at the end you’ll feel smarter and better informed about how energy innovation alters the course of civilizations. (Source)
Chris GoodallThere isn’t a page you don’t learn something from. (Source)
Winner of the Chicago Tribune Heartland Prize less
Edward GlaeserNature’s Metropolis tells the story of Chicago’s relationship with the great American hinterland. It certainly shaped my understanding of the role that cities played in the 19th century. William Cronon tells this story through a series of commodities, from the timber of the early forest that came down through Lake Michigan, to the corn of Iowa that produced the pigs that were slaughtered in... (Source)
--The Atlantic
"Extraordinary... Baradaran focuses on a part of the American story that's often ignored: the way African Americans were locked out of the financial engines that create wealth in America."
--Ezra Klein
When the Emancipation Proclamation was signed in 1863, the black community owned less than 1 percent of the total wealth in America. More than 150 years later, that number has barely budged. The Color of... more
Jonah LehrerA wonderful eclectic history of mass human irrationality, and a great history of financial bubbles. (Source)
Tom Joseph"Do you know who I am"- Trump cries a/b his status, Iran & Obama are panic b4 his bubble pops Mania's will end in panic as noted in a favorite book: Extraordinary Popular Delusions & the Madness of Crowds by Charles Mackay. Not a plug-written in 1841 Trumpmania is now Trumpanic https://t.co/WnVGJ8Hung (Source)
John GapperIt’s a very patchy book, but it leads off with three classic financial booms and busts – tulip mania in Holland, the Mississippi scheme in 18th century France, and the South Sea Bubble. MacKay was a journalist with a fine tabloid style, and he writes it all up very entertainingly. He gets the eyewitness quotes and he finds the human foibles. (Source)
From the Hardcover edition. less
"A work of almost Toynbeean sweep... When a scholar as careful and learned as Mr. Kennedy is prompted by contemporary issues to reexamine the great processes of the past, the result can only be an enhancement of our historical understanding.... When the study is written as simply and attractively as this work is, its publication may have a great and beneficient impact. It is to be hoped that Mr. Kennedy's will have one, at a... more
On a rainy Sunday in 2014, a senior executive at Deutsche Bank was found hanging in his London apartment. Bill Broeksmit had helped build the 150-year-old financial institution into a global colossus, and his sudden death was a mystery, made more so by the bank’s efforts to deter investigation. Broeksmit, it turned out, was a man who knew too much.
In Dark Towers, award-winning journalist David Enrich reveals the truth about Deutsche Bank... more
Aunt Crabby Calls BullshitEvery Trump financial thread pulled results in scandal The @maddow Show last night was GREAT!! I pre-ordered the book on Trump and Deutsche Bank immediately! https://t.co/H03Y0bjCDc (Source)
Charles P. PierceI’m reading the Deutsche Bank book that @maddow is talking about now. It’s an amazing saga. (Source)
Yashar Ali2. "Dark Towers," is a deeply reported book and reveals a lot about the criminality at Deutsche. The pacing and writing are excellent and I found myself pouring through the book and never getting bored. A must-read! Kudos to @davidenrich https://t.co/0B3hN2BEqm https://t.co/jV32q3oyLt (Source)
In The Fall of Rome, eminent historian Bryan Ward-Perkins argues that the "peaceful" theory of Rome's "transformation" is badly in error. Indeed, he sees the fall of Rome as a time of horror and dislocation that destroyed a great civilization, throwing the inhabitants of the West back to a standard of living typical of... more
Don't have time to read the top Economic History books of all time? Read Shortform summaries.
Shortform summaries help you learn 10x faster by:
- Being comprehensive: you learn the most important points in the book
- Cutting out the fluff: you focus your time on what's important to know
- Interactive exercises: apply the book's ideas to your own life with our educators' guidance.
Freedom, Sen argues, is both the end and most efficient means of sustaining economic life and the key to securing the general welfare of the world's entire population. Releasing the idea of individual freedom from association with any particular historical, intellectual, political, or religious tradition, Sen clearly demonstrates its current applicability and possibilities. In the new global... more
Neoliberals hate the state. Or do they? In the first intellectual history of neoliberal globalism, Quinn Slobodian follows a group of thinkers from the ashes of the Habsburg Empire to the creation of the World Trade Organization to show that neoliberalism emerged less to shrink government and abolish regulations than to redeploy them at a global level.
Slobodian begins in Austria in the 1920s. Empires were dissolving and nationalism, socialism, and democratic self-determination threatened the stability... more
Diane CoyleThis book is about the philosophical origins of neoliberalism in 1930s Vienna and logical positivism and how it spread globally, particularly into Anglo-Saxon and American universities, and also about the way it underpinned the philosophy of globalization that we have seen take over the world since the 1980s. It’s really interesting to understand that the ideas that we think of as ‘natural’... (Source)
Joe WeisenthalIf anyone's looking for a last-week-of-summer beach read, this book by @zeithistoriker on how we got here is great. https://t.co/YZ6VtRevUc HT: @MattZeitlin for the rec. (Source)
Kent DengProfessor Kenneth Pomeranz’s book is more or less a synthesis of Jones and Wong. What he achieves in the book is to show the reader that Europe (Western) and Asia (China) departed from each other in terms of quality of life (everyday consumption) only after 1750. Before that date, Europe was not superior to Asia in those terms. (Source)
This P.S. edition features an extra 16 pages of insights into the book, including author... more
—Paul Krugman, New York Times Book Review
“Fox makes business history thrilling.”
—St. Louis Post-Dispatch
A lively history of ideas, The Myth of the Rational Market by former Time Magazine economics columnist Justin Fox, describes with insight and wit the rise and fall of the world’s most influential investing idea: the efficient... more
Barry RitholtzYes, so everything was working fine. The original concept – which started under Carter but was accelerated under Reagan – was that government has gotten too unwieldy. Regulation is too costly, too time-consuming and there’s too much red tape. There is a legitimate argument that bureaucracies tend to feed on themselves, and you have to constantly hack back at some of the vines and undergrowth. But... (Source)
Governments today in both Europe and the United States have succeeded in casting government spending as reckless wastefulness that has made the economy worse. In contrast, they have advanced a policy of draconian budget cuts--austerity--to solve the financial crisis. We are told that we have all lived beyond our means and now need to tighten our belts. This view conveniently forgets where all that debt came from. Not from an orgy of government spending, but as the direct result of bailing out, recapitalizing, and adding liquidity to the... more
A monumental history of the nineteenth century, "The Transformation of the World" offers a panoramic and multifaceted portrait of a world in transition. Jurgen Osterhammel, an eminent scholar who has been called the Braudel of the nineteenth century, moves beyond conventional Eurocentric and chronological accounts of the era, presenting instead a truly global history of breathtaking scope and towering erudition. He examines the powerful and complex forces that drove global change during the "long nineteenth century," taking readers from New York to New Delhi, from the Latin American... more
Khurshid AlamThis is a very interesting book – it contains some very good storytelling about the late Victorian famines in Africa, India, China, Brazil and elsewhere. It could almost be described as a narration of human suffering. It also contains many rare photographs depicting the famines. (Source)
Why are banking systems unstable in so many countries--but not in others? The United States has had twelve systemic banking crises since 1840, while Canada has had none. The banking systems of Mexico and Brazil have not only been crisis prone but have provided miniscule amounts of credit to business enterprises and households.
Analyzing the political and banking history of the United Kingdom, the United States, Canada, Mexico, and Brazil through several centuries, Fragile by Design demonstrates that chronic banking... more
Don't have time to read the top Economic History books of all time? Read Shortform summaries.
Shortform summaries help you learn 10x faster by:
- Being comprehensive: you learn the most important points in the book
- Cutting out the fluff: you focus your time on what's important to know
- Interactive exercises: apply the book's ideas to your own life with our educators' guidance.
Wealthy, powerful, and potentially dangerous, hedge fund moguls have become the It Boys of twenty-first century capitalism. Ken Griffin of Citadel started out trading convertible bonds from his dorm room at Harvard. Julian Robertson staffed his hedge fund with college athletes half his age, then he flew them to... more
Deepak Shenoy@gauravsabnis @abhijitkadle @mohitsatyanand @tanayingale I fourth that recommendation. That is a brilliant book. (Source)
Shanghai, 1936. The Cathay Hotel, located on the city's famous waterfront, is one of the most glamorous in the world. Built by Victor Sassoon--billionaire playboy and scion of the Sassoon dynasty--the hotel hosts a who's who of global celebrities: Noel Coward has written a draft of Private Lives in his suite and Charlie Chaplin has entertained his wife-to-be. And a few miles... more
William Rosen, author of Justinian's Flea, seeks to answer these questions and more with The Most Powerful Idea in the World. A lively and passionate study of the engineering and scientific breakthroughs that led to the steam engine, this book argues that the very notion of intellectual property drove not only the invention of the... more
Bill GatesI just finished reading The Most Powerful Idea in the World: A Story of Steam, Industry and Invention by William Rosen. It focuses on the Industrial Revolution basically from the Newcomen atmospheric engine in 1712 to the Stephen Rocket Locomotive in 1850. It does a great job of explaining how thousands of innovations were driven during this period by many elements coming together: increased... (Source)
This dependence on dollars, by banks, corporations and governments around the world, is a source of strength for the United States. It is, as a critic of U.S. policies once put it, America's "exorbitant privilege."... more
Bridging women’s history, the history of the South, and African American history, this book makes a bold argument about the role of white women in American slavery. Historian Stephanie E. Jones-Rogers draws on a variety of sources to show that slave‑owning women were sophisticated economic actors who directly engaged in and benefited from the South’s slave market. Because women typically inherited more slaves than land, enslaved people were often their primary source of wealth. Not only did... more
Now, in The Great Wave, Fischer has done it again, marshaling an astonishing array of historical facts in lucid and compelling prose to outline a history of prices--"the history of change," as Fischer puts it--covering the dazzling sweep of Western history from the medieval glory of Chartres to the modern day.
Going far... more
"Convincingly makes the case that finance is a change-maker of change-makers."--Financial Times
In the aftermath of recent financial crises, it's easy to see finance as a wrecking ball: something that destroys fortunes and jobs, and undermines governments and banks. In Money Changes Everything, leading financial historian William Goetzmann argues the exact opposite--that the development of finance has made the growth of civilizations possible. Goetzmann explains... more
Tim HarfordThis book is about the history, often the ancient history, of all sorts of financial innovations. (Source)
Jonathan TepperThis is a great book for those interested in economic history. https://t.co/xK55Lb5IA8 (Source)
Don't have time to read the top Economic History books of all time? Read Shortform summaries.
Shortform summaries help you learn 10x faster by:
- Being comprehensive: you learn the most important points in the book
- Cutting out the fluff: you focus your time on what's important to know
- Interactive exercises: apply the book's ideas to your own life with our educators' guidance.