100 Books Like Investment in Human Capital

I've always been interested in trying to make the world a better place, increasing the well-being of families and nations, and not just in making private profit for myself or for some employer. In working as a consultant on education and development in 22 different countries, many of them poor and developing such as Nepal, Malawi, and Indonesia, I've seen a lot of poverty and inequality, and have also come to see how education, including its effects on fertility rates, health, longevity, the survival of democratic institutions and so forth and especially its financing is at the heart of making lives better, especially for children who are the future of each family and each nation.

I've always been interested in trying to make the world a better place, increasing the well-being of families and nations, and not just in making private profit for myself or for some employer. In working as a consultant on education and development in 22 different countries, many of them poor and developing such as Nepal, Malawi, and Indonesia, I've seen a lot of poverty and inequality, and have also come to see how education, including its effects on fertility rates, health, longevity, the survival of democratic institutions and so forth and especially its financing is at the heart of making lives better, especially for children who are the future of each family and each nation.

I've always been interested in trying to make the world a better place, increasing the well-being of families and nations, and not just in making private profit for myself or for some employer. In working as a consultant on education and development in 22 different countries, many of them poor and developing such as Nepal, Malawi, and Indonesia, I've seen a lot of poverty and inequality, and have also come to see how education, including its effects on fertility rates, health, longevity, the survival of democratic institutions and so forth and especially its financing is at the heart of making lives better, especially for children who are the future of each family and each nation.

I grew up in a middle-class family in Palo Alto, California, during the years when the community transformed from a quiet college town to a hub of the technology sector’s Silicon Valley. While multiple family members and friends were part of this boom, I found myself questioning what all this “progress” meant and for whom. These questions led me across Latin America, South Asia, and Southeast Asia. I collaborated with grassroots efforts in which community-led groups successfully stopped extractive “development” projects and instead built alternative pathways to economic flourishing.

In my (continued) learning about what it takes to change our economic systems and what else is possible, these books have been important reads for me.

Inequality and fairness are basic issues in human conflict and cooperation that have long fascinated me. Growing up in Louisville, Kentucky, I was confronted with the extreme racial segregation of schools and neighborhoods. My Catholic upbringing taught me to cherish the cardinal virtues of justice, wisdom, courage, and temperance, and my education in political economy taught me that markets can fairly and efficiently allocate resources, when legal power is evenly shared. My formal education culminated in a Ph.D. in Public Affairs from Princeton University, which led me to my current roles: Non-resident Senior Fellow at the Brookings Institution and Principal Economist at Gallup. I care deeply about the social conditions that create cooperation and conflict.

My mother wanted me to be a physician, but as a child I was very squeamish about human biology and knew that wasn't for me. In college I was exposed to economics and found it, and the policy debates about national health insurance, fascinating. So, maybe with my mother’s wishes in the back of my mind, I became a health economist. I was privileged to direct a large randomized trial called the RAND Health Insurance Experiment, which varied the cost of medical care to families. This project lasted more than a decade and got me so deep into the economics of health and medical care that I became a professor of health policy and management.

I am a writer and a sociologist of money. I am passionate about money, relationships, and family violence, because I know from my research that talking about money opens up intimate conversations about the way people see themselves, their aspirations and hopes. Sometimes through hearing other people’s stories I have found mine. I realised while researching family violence that I too had suffered economic abuse. For me too economic abuse was ‘hidden in plain sight’. One of the most meaningful things for me is to help women and men overcome family violence and empower themselves to live with freedom.  

As a Professor of Economic History at the Oxford University, I taught the history of economic thought and wrote articles and a book in the field (The Nobel Factor). I love the limpid style and encompassing view of the classical economists (the first century after Smith). Their literary and academic styles have been abandoned, but they still have a great deal to teach. The role of land and natural resources as a factor of production in their theory has become relevant again as the environment comes under pressure. I also published in several other fields. My latest book is Understanding the Private-Public Divide: Markets, Governments and Time Horizons (2022). 

My passion for economics began during my first semester of college when I enrolled in a principles of macroeconomics course only because the professor was my father’s friend. The power of economic reasoning to explain the world around me has held my fascination every since. After graduate school, my interests turned to encourage others to use the economic way of thinking to better their lives. My life as an economic educator spans more than 40 years, having taught thousands of college students across several universities, from first-semester freshmen to matriculating doctoral candidates. My work has taken me around the world and back to my undergraduate alma mater in Pittsburg, Kansas.

I am an economics professor who believes my profession has important things to contribute to society but has done a poor job. My colleagues spend much of their time writing esoteric articles that 6 other academics will read, and one in a million will actually improve the lives of people. I consider myself a “blue-collar academic”; I am basically a farm kid (still live on a small farm) with a bunch of degrees attempting to bring good economic insights to more people so those ideas can be applied and used by real people living real lives so I am always on the search for others who are doing just that.