May 27, 2024
Every economics enthusiast must read these books

They are accessible even to those who have never been interested in the field!

Nassim Taleb: ‘The Black Swan: The Impact of the Highly Improbable’.
A Black Swan is a rare event characterized by unpredictability, significant impact, and post-event rationalization that makes it appear less random. Nassim Nicholas Taleb argues that Black Swans underpin nearly everything about our world, from the rise of religions to personal life events.

Steven Levitt and Stephen Dubner: ‘Freakonomics: A Rogue Economist Explores the Hidden Side of Everything’.
Freakonomics will change how you view the modern world. Through compelling narrative and insight, Levitt and his co-author Dubner show that economics is essentially the study of incentives—how people get what they want or need, especially when others want or need the same thing.

Edward Miguel and Raymond Fisman: ‘Economic Gangsters: Corruption, Violence, and the Poverty of Nations’.
The authors introduce readers to the hidden, chaotic, and violent worlds populated by lawless bandits. The book joins two detective economists as they trace how foreign aid money flows into the hands of corrupt governments and criminal underworld figures.

Daniel Kahneman: ‘Thinking, Fast and Slow’.
Engaging readers in a lively discussion about how we think, Kahneman reveals when we can trust our intuition and when we cannot, and how we can benefit from slow thinking. He offers practical and enlightening insights on how decisions are made in both business and personal life, and how to guard against the mental glitches that often get us into trouble.

Joshua Gans, Ajay Agrawal, and Avi Goldfarb: ‘Prediction Machines: The Simple Economics of Artificial Intelligence’.
Three distinguished economists interpret the development of artificial intelligence as reducing the cost of predictions. With masterful insight, they lift the veil on the AI myth and show how basic economic tools can provide insights into the AI revolution and serve as a foundation for actions by executives, managers, politicians, investors, and entrepreneurs.

What books would you recommend?