Introductions and popular books that apply economic reasoning to everyday questions, from Freakonomics and Basic Economics to the economics of art, sport and crime.
The drug trade as a business: how cartels handle supply chains, staff and branding.
The economics of the music industry, where superstar markets show up in pure form.
A dealer separating commercial, social and intrinsic value.
Sequel with more on auction guarantees and price formation.
Thomas Sowell's deliberately introductory survey of how prices, incentives, and tradeoffs work across housing, labor, international trade, and discrimination. Dense with empirical examples. Its main contribution to this list is showing the gap between policy intentions and policy consequences.
Hazlitt's 1946 distillation of Bastiat's 'broken window' insight: good economic reasoning requires seeing both what is visible and what is made invisible by a policy. A short book that teaches a single analytical habit, and that habit is genuinely useful regardless of your politics.
“I've given dozens of copies of this classic to students... The book should be required reading on every campus.” — Christopher Bloomstran
Source: Semper Augustus 2020 Letter to Clients, 'To Read or Not to Read', p. 57
Recommended by: Christopher Bloomstran, Changpeng Zhao and 3 others
Short essays on unemployment, globalization, growth and financial speculation.
Recommended by: Patrick Collison
Economics applied to sport: league structure, revenue sharing and team valuation.
Economics argued through a novel; markets and their moral defence
“there is a book called The Invisible Heart which explains basic economics to most people” — Joel Greenblatt
Source: Masters in Business transcript: Joel Greenblatt (2018)
Recommended by: Joel Greenblatt, Mohnish Pabrai
Recommended by: Mohnish Pabrai
Incentives and data applied to cheating teachers, sumo wrestlers and other puzzles.
Recommended by: Mohnish Pabrai, Andrew Lokenauth and 6 others
Price theory in daily life: coffee near stations, supermarket tiers and used cars.
Recommended by: Mohnish Pabrai, Naval Ravikant
Economics for daily life: motivating people, choosing food, giving to charity.
Recommended by: Graham Duncan
How prices are set in the contemporary art market, from dealers to auction houses.
Recommended by: Tim Ferriss, Diana Kimball, Vinod Khosla
Sequel applying incentive analysis to climate, crime and altruism
“I recommend this book to anyone who reads nonfiction. It is very well written and full of great insights.” — Bill Gates
Source: Gates Notes review of SuperFreakonomics
Recommended by: Bill Gates, Mohnish Pabrai
Economics applied to pirates: why they behaved as they did and why they succeeded.
Recommended by: Mohnish Pabrai
How the US economy really works, explained for lay readers without jargon.
Recommended by: Mohnish Pabrai
Recommended by: Andrew Wilkinson, Paul Graham
Recommended by: Mohnish Pabrai
Recommended by: Mohnish Pabrai, Patrick Collison
Recommended by: Mohnish Pabrai
How markets shape everyday choices, such as why healthy people should buy insurance.
Recommended by: Reid Hoffman
Mohnish Pabrairecommends 10 books here
Eric Weinsteinrecommends 2 books here
Naval Ravikantrecommends 2 books here
Patrick Collisonrecommends 2 books here
Marc Andreessenrecommends 1 book here
Paul Grahamrecommends 1 book here
Reid Hoffmanrecommends 1 book here
Simon Sinekrecommends 1 book here
Bill Gatesrecommends 1 book here
Changpeng Zhaorecommends 1 book here
Ev Williamsrecommends 1 book here
James Altucherrecommends 1 book here
Ruslan Koganrecommends 1 book here
Ryan Petersonrecommends 1 book here
Tim Ferrissrecommends 1 book here
Vinod Khoslarecommends 1 book here