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Ask HN: What are the must-read books about economics/finance?

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Re: Ask HN: What are the must-read books about economics/finance?

#81

Post by js8 »

ddebernardy wrote: post #68

IMO start with a recent book that spells out useful pointers to give the classics a critical read: "Debunking Economics", by Steve Keen. Keen gave a talk at Google a few years back that was a pretty good summary of what's in the book's first version. If you're into stats and finance also check out the author's finance classes on youtube. Besides a bunch of videos that cover what's in his book, there are quite a few o…

If you're mathematically inclined, Steve Keen himself recommends Dynamic Economic Systems by John Markus Blatt.

As an aside, I would also recommend reading Thomas Piketty's Capital for 21st Century. IMHO it gives you a deeper historic perspective on economics than just couple decades back.

Re: Ask HN: What are the must-read books about economics/finance?

#82

Post by dmfdmf »

chrismealy wrote: post #74
tmaly wrote: post #6

Economics in One Lesson by Henry Hazlitt Human Action by Ludwig von Mises

These books are just old reactionary propaganda. If that's your thing there's much better reactionary propaganda around.

What are you a communist? Talk about old.

BTW, you should also read Hazlitt's "The Failure of the 'New Economics' ". Hazlitt shredded Keynes and doesn't pull any punches. Too bad nobody listened to him.

Re: Ask HN: What are the must-read books about economics/finance?

#88

Post by longsangstan »

If you know Chinese, there is a must read: Economic Explanation(經濟解釋） by Steven Cheung.

If you don't, you can read: Economic Explanation: Selected Papers of Steven N.s. Cheung. (Same book name but different content - collection of essays vs a book on theories)

Why Steven Cheung? As a close friend to Ronald Coase, he too focuses on empirical research (the real world) rather than blackboard economics (the imaginary world); hates the use of math for the sake of it; emphasizes on testable implications (positive economics).

His classic paper The Fable of the Bees is a great example of how empirical work destroys blackboard economics.

Re: Ask HN: What are the must-read books about economics/finance?

#89

Post by jnordwick »

longsangstan wrote: post #88

If you know Chinese, there is a must read: Economic Explanation(經濟解釋） by Steven Cheung. If you don't, you can read: Economic Explanation: Selected Papers of Steven N.s. Cheung. (Same book name but different content - collection of essays vs a book on theories) Why Steven Cheung? As a close friend to Ronald Coase, he too focuses on empirical research (the real world) rather than blackboard economics (the imaginary wor…

I only agree with empirical economics when it is forward looking. If you have these great models that you've honed and can accurately predict ten of the last ten recessions, but your model then goes on to predict 20 of the next zero recessions, I'd say you basically overfitted to your prejudices and your model is bunk. I get really wary of economists that "prove" their theories on back data but still can't predict worth shit.

However, this guy sounds really interesting, and I've bookmarked him to go looking for this weekend. Thanks for the cites.

Re: Ask HN: What are the must-read books about economics/finance?

#90

Post by dash2 »

Academic economist(ish) speaking here. Be aware of the distinction between books of economics (the discipline) and books about economics by non-economists. Both can be great - I loved The Big Short.

Strongly recommend Keynes, and surprised nobody has mentioned Minsky or Kindleberger - outsiders now receiving recognition.

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