Tuesday, March 28, 2017 11:59

Economics

This is a partial list of books that have been influential in developing my conservative fiscal outlook. It has been said that if you laid all the economists in the world end to end, they wouldn’t reach … a conclusion.  If you placed just these five books in a stack and stood on them, your reach would exceed the grasp of just about anybody you know.

Frederic Bastiat, The Law (This is not strictly a book on economics, but a devastating critique of socialism that is just as applicable today as when it was written – in 1850.)

Friedrich A. Hayek, The Road to Serfdom (timeless and important)

Milton Friedman, Free to Choose: A Personal Statement (quite possibly the most accessible, straightforward, and compelling introduction to economics available, from the Nobel Economics laureate – back when the Nobel Prize actually meant something)

Ludwig von Mises, Human Action: A Treatise on Economics (Vast in scope – 1128 pages and 4 volumes (!) in the paperback edition – this is the Bible of the Austrian school of economics and well worth the time to read.  Read this and you will understand more about economics than 99.9% of your fellow Americans and 100% of members of Congress.)

Murray Rothbard, Man, Economy, and State with Power and Market – Scholars Edition (also huge, but an essential text; more from the Austrian school)

As the saying goes, economics ain’t rocket surgery.  Why is it so few politicians have even a rudimentary grasp of the subject?


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