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The Constitution of Liberty (1960) is a classic of economic philosophy. As one of the seminal texts of modern liberalism, it reminds us of the values of individual freedom, limited government, and universal principles of law. First published in the 1960s, it contends that social progress depends on the free market rather than on socialist planning. This work remains relevant in an age where socialist ideas are gaining new popularity.

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Friedrich A. Hayek was one of the most important economists of the twentieth century and a leading proponent of classical liberalism. In 1974, he won the Nobel Prize for his work on monetary theory in economics. In 1991, he also received the Presidential Medal of Freedom.

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Economic Facts and Fallacies (2008) takes some common assumptions about economics and politics and reveals them as fallacies. It’s only by facing uncomfortable truths, the book argues, that we can begin to solve the problems in front of us.

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Thomas Sowell is a conservative economist, social theorist, and senior fellow at Stanford University’s Hoover Institution. Sowell has taught economics at Cornell, Amherst, and the University of California at Los Angeles, and the history of ideas at Brandeis University. In 2002, he was awarded the National Humanities Medal.

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Capitalism, Socialism and Democracy (1942) is a seminal work of economics. Its ideas have proven prophetic, and remain relevant to this day. It claims that capitalism will ultimately be eroded by the very processes that define it. It also explains the differences between capitalism and socialism and their relationship to democracy, and helps readers understand the role of entrepreneurship and creative destruction in modern capitalism.

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Joseph Schumpeter was one of the most influential political economists of the twentieth century. After briefly serving as the Finance Minister of German-Austria, he emigrated to the US in 1932 and became an economics professor at Harvard. Capitalism, Socialism and Democracy is regarded as his most important and most profound work. It’s the third-most-cited book in the social sciences.

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The Narrow Corridor (2019) weaves together a rich tapestry from disparate parts of history to answer the question: Why do some countries achieve liberty while others do not? From the ancient city of Uruk to Revolutionary America, from 1950s China to modern-day Argentina, it examines the conditions that enable governments and citizens to thrive as one –⁠ and the consequences when this fails to occur.

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Daron Acemoglu is a multi-award-winning economist and an Institute Professor –⁠ the highest title a faculty member can achieve –⁠ at MIT. In 2015, the Research Papers in Economics database named him the most-cited economist of the previous decade. Along with James A. Robinson, he is the coauthor of the best-selling book Why Nations Fail.

James A. Robinson is a political scientist who previously taught at Harvard and now serves as one of nine University Professors at the University of Chicago. His major areas of interest are Africa and Latin America, where he continues to conduct extensive research.

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Noise (2021) is an exploration into the chaotic and costly role that randomness plays in human judgment. By uncovering the mechanisms behind how our minds and societies work, the authors show how noise – unwanted variability in decisions – is both inescapable and elusive. We can, however, with a few solid strategies, make our judgments less noisy and our world fairer.

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Daniel Kahneman is an economist and psychologist and the author of the groundbreaking Thinking, Fast and Slow. Kahneman’s work earned him a Nobel Prize in Economics in 2002 and the Presidential Medal of Freedom in 2013. He’s currently a professor emeritus at Princeton University.

Cass R. Sunstein is a legal scholar and the author and coauthor of several books including Nudge which he coauthored with Richard Thaler. Sunstein served as a top administrator in the Obama White House and is the founder and director of the Program on Behavioral Economics and Public Policy at Harvard University.

Olivier Sibony is a fellow at Oxford University, a former senior partner at McKinsey & Company, and the author of You’re About to Make a Terrible Mistake!

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A Little History of Economics (2017) is a whistle-stop tour of the major questions posed by economists through the centuries, from Aristotle to Thomas Piketty. It examines questions of inequality, selfishness, and the role government should play in economies.

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Niall Kishtainy is a professor at the London School of Economics and the University of Warwick. He believes a study of the history of economics can explain a lot about our modern times, and help us move forward in a better way.

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The Psychology of Money (2020) looks at the way money works in the real world. Financial decisions are rarely driven by the theories of economists and the neat spreadsheets of accountants. Instead, a myriad of factors, from personal history to pride and even envy, shape our decision-making. The results are often surprising – and always fascinating.

","aboutTheAuthor":"

Morgan Housel is a partner at the Collaborative Fund and a financial journalist who has written for the Motley Fool and the Wall Street Journal. Based in Seattle, he has won multiple awards for his writing, including the New York Times Sidney Award and the Best in Business Award from the Society of American Business Editors and Writers.

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The Economists’ Hour (2019) is a compact history of how economists came to dominate our political discourse. This work traces the rise of neoliberal ideology from the 1960s to today.

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Binyamin Appelbaum is the economics and business lead for the New York Times editorial board. His writing has appeared in the Washington Post, the Boston Globe, and the Charlotte Observer and won him a George Polk Award and Pulitzer Prize nomination.

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Licence to be Bad (2019) explains how in the past 50 years a small handful of economists has drastically changed the way we think about the subject. Ideas including game theory, public choice theory, and free-riding have worked their way into our minds and our discourse, apparently permitting us to behave badly.

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Jonathan Aldred is a fellow at Emmanuel College, University of Cambridge, where he teaches economics and land economy. His first book, The Skeptical Economist, was published in 2009 and examines the ethics that lie behind economics.

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Evil Geniuses (2020) describes the rise of the economic right after the 1960s and the consequences of their policies today. From Milton Friedman to Ronald Reagan, it looks at the significance of some of the right’s central figures while also sketching a broader narrative that explains how the US has ended up as it has today.

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Kurt Andersen is a journalist, novelist, and radio host. He’s the author of Fantasyland: How America Went Haywire: A 500-Year History, which was a New York Times best seller. He’s also the author of the critically acclaimed novels True Believers, Heyday, and Turn of the Century.

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