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Jan 12, 2011

10 easy to read books that will teach you about economics , wealth and prosperity

Many a times after engaging in a debate on issues of public policy or economies, one response I invariably get is; “I didn’t know economics could be that interesting. Can you recommend me some books on economics that are easy to read and understand, ones that don’t have too many indecipherable figures and codes, something that can teach me to relate economics with day to day examples as you did now?”

They can’t be blamed for their view of economics. Economics has long been accused of being too abstract, irrelevant, unrealistic and boring subject.  Economics for a layman has been a subject of experts. It’s all about curves, figures and numbers that has little if any, to do with our daily lives. However, the truth is that, economics isn’t all about, or I would rather say, it isn’t primarily about curves, diagrams, codes and numbers. Economics and fun needn’t be contradictory terms.

Today, I would like to present you the top ten books that are easy to read and understand which will teach you a lot about economics, wealth and prosperity. And take my word; you won’t be bored unless you have a dire disgust towards reading itself.

1.Common Sense Economics: As the name suggests, if you have common sense, you'll understand this book pretty well. The alternative title of this book is "What everyone should know about wealth and prosperity" . I believe by now you can pretty well guess what the book is about and what it will be like.

2.In Defense of Global Capitalism: In defense of global capitalism is an easy to read explanation of how the spread of the free market economy has brought about the swiftest reduction of hunger and poverty in human history. It explains how the world is getting more prosperous and wealthy through policies of free markets.

Note: If you love to believe that capitalism is about letting rich people do whatever they like and letting poor people die or if you love to take word by word what our politicians say about capitalism (capitalism is the cause of all this mess, capitalism is what USA does, capitalism is evil etc etc.), you might find the book very shocking as it has tons of facts and examples that point otherwise.

3.Economics in One Lesson: FYI, the book has more than one lesson but it is one hell of a simple read that will give you lots of insights to principles of economics and their implications in our daily lives.

4.The Choice: A fable of free trade and protectionism:
Written by one of my most favorite economic writers , Russell Roberts, The Choice teaches you about the various aspects of free trade and protectionism in the simplest form possible..i.e a story. If you love reading stories, you'll definitely love this book.

5.The Price of Everything: It is another book written by Russell Roberts. It teaches why everything has a price and how prices are one of the most wonderful inventions of human societies. As it is with every other book by Roberts, it's in the form of fiction too.

6.The Deal Maker: Written by Rakesh Wadhwa, whose articles appear regularly in leading newspapers of Nepal, India, Sri Lanka, and the US, The Deal Maker is an easy to read novel with lots of twists, suspense and subplots and of course, lessons in economics and how any country can get prosperous.

7.The Adventures of Jonathan Gullible: Have you read the classic "Gulliver's Travels"? If you liked the book, you'll surely like The Adventures of Jonathan Gullible. Jonathan Gullible finds various kinds of people with various economic concepts and behaviors. Along the way, he learns a lot.

8.The Ultimate Resource: Remember your school days when a subject called "Population, Health and Environment" terrified you with a grim picture of the world where the rapid growth of population is going to threaten our existence? The author of this book seems to believe just the opposite. He thinks population is our ultimate resource and the source of prosperity and he ain't kidding.

9.Free Your Mind: A beginner's guide to Political Economy: This book is even simpler as compared to other books I mentioned but not a bit less interesting and definitely not less informative. Targeted for teenagers, the presentation style of this book is amazing. It covers topics such as employment, free trade, public administration, inflation, environment , poverty etc. Know why money is called "bucks'? The author also says , Statutory Warning! Socialist Democracy Is Very Bad For Your Health! (You’d Be Better Off Chain Smoking!) and he too ain't kidding!

10.Free to Choose: I am not sure if all the chapters of this book would be very easy to understand but I highly recommend you to read the first couple of chapters. This book is supposed to have influenced many influential politicians and general people all around the world. After a few chapters, you'll know why.

Well, that's it. Have you read any of these books? If yes, what do you think about them? Please share your thoughts and view points. If you have any similar books in mind, please share about it in the comment box below!