Here are 71 books that Makers and Takers fans have personally recommended if you like
Makers and Takers.
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In the early 2000s, I noticed that lots of good American jobs were being lost to China. I was taught in college economics that trade was always win-win and that the government should stay out of the economy. I started reading the literature and found a number of flaws with these free trade and extreme free-market doctrines. The flaws were there in plain sight, but US trade economists, with vanishingly few exceptions, were ignoring them. Not only were the costs to our economy and our workers enormous, but the frustration of American workers with 30 years of failed promises by both parties has made our politics angrier and more divisive.
This book makes the novel and, to me, fascinating case that the economy is an evolutionary system that is constantly changing, implying that the static equilibria of conventional trade models are not usefully predictive. It also made it clear to me, from a different perspective, that the industries in which a country succeeds are path-dependent.
If you are a mosquito, the next evolutionary mutation will not produce an elephant. Likewise, it is much easier to design and manufacture 3 nanometer-scale chips if you have already designed and manufactured 5 nanometer-scale chips. This drove home to me how important retaining the key industries of today is for our long-term prosperity.
Over 6.4 billion people participate in a $36.5 trillion global economy, designed and overseen by no one. How did this marvel of self-organized complexity evolve? How is wealth created within this system? And how can wealth be increased for the benefit of individuals, businesses, and society? In The Origin of Wealth, Eric D. Beinhocker argues that modern science provides a radical perspective on these age-old questions, with far-reaching implications. According to Beinhocker, wealth creation is the product of a simple but profoundly powerful evolutionary formula: differentiate, select, and amplify. In this view, the economy is a "complex adaptive system" in…
A moving story of love, betrayal, and the enduring power of hope in the face of darkness.
German pianist Hedda Schlagel's world collapsed when her fiancé, Fritz, vanished after being sent to an enemy alien camp in the United States during the Great War. Fifteen years later, in 1932, Hedda…
In the early 2000s, I noticed that lots of good American jobs were being lost to China. I was taught in college economics that trade was always win-win and that the government should stay out of the economy. I started reading the literature and found a number of flaws with these free trade and extreme free-market doctrines. The flaws were there in plain sight, but US trade economists, with vanishingly few exceptions, were ignoring them. Not only were the costs to our economy and our workers enormous, but the frustration of American workers with 30 years of failed promises by both parties has made our politics angrier and more divisive.
I was excited to read this book, co-authored by a former president of the American Economic Association, because it proved using the same mathematical modeling that economists love, that trade is sometimes—often, in fact—win/lose.
Specifically, when a developed country like the US loses a large or high-value industry to another country, it loses more than it gains by being able to import the industry’s products at a lower cost. This encouraged me to dig further into the problems with US trade policy.
Ralph Gomory and William Baumol adapt classical trade models to the modern world economy.
In this book Ralph Gomory and William Baumol adapt classical trade models to the modern world economy. Trade today is dominated by manufactured goods, rapidly moving technology, and huge firms that benefit from economies of scale. This is very different from the largely agricultural world in which the classical theories originated. Gomory and Baumol show that the new and significant conflicts resulting from international trade are inherent in modern economies.Today improvement in one country's productive capabilities is often attainable only at the expense of another country's…
In the early 2000s, I noticed that lots of good American jobs were being lost to China. I was taught in college economics that trade was always win-win and that the government should stay out of the economy. I started reading the literature and found a number of flaws with these free trade and extreme free-market doctrines. The flaws were there in plain sight, but US trade economists, with vanishingly few exceptions, were ignoring them. Not only were the costs to our economy and our workers enormous, but the frustration of American workers with 30 years of failed promises by both parties has made our politics angrier and more divisive.
I loved this book because it helped me understand why the Washington Consensus policies of unchecked globalism, including free trade and unregulated markets, are inequitable and destabilizing. It convincingly explains why they have never been and never will be truly accepted by other countries.
Importantly, it helped me to understand how their application in the US has created the conditions that are causing its own incipient turn away from free trade and unregulated markets. Written with great clarity, it freed me to think more broadly about alternatives.
Hailed by Kirkus Reviews as both "a convincing analysis of an international economy headed for disaster" and a "powerful challenge to economic orthodoxy," False Dawn shows that the attempt to impose the Anglo-American-style free market on the world will create a disaster, possibly on the scale of Soviet communism. Even America, the supposed flagship of the new civilization, risks moral and social disintegration as it loses ground to other cultures that have never forgotten that the market works best when it is embedded in society. John Gray, well known in the 1980s as an important conservative political thinker, whose writings…
Sine, a professor of creative writing, accompanies Sam, a neuroscientist, on a conference trip to a Hotel Castle. Sam wants to present a new device, the "monitor." Sine hopes to recover from tending to her mother who just passed away.
When they arrive, Sine is in a dream-like state. Real…
In the early 2000s, I noticed that lots of good American jobs were being lost to China. I was taught in college economics that trade was always win-win and that the government should stay out of the economy. I started reading the literature and found a number of flaws with these free trade and extreme free-market doctrines. The flaws were there in plain sight, but US trade economists, with vanishingly few exceptions, were ignoring them. Not only were the costs to our economy and our workers enormous, but the frustration of American workers with 30 years of failed promises by both parties has made our politics angrier and more divisive.
This book made it crystal clear to me why the US cannot prosper long-term without being a manufacturing powerhouse.
It helped me understand how outsourcing manufacturing to other countries not only costs jobs and national prosperity but also makes it less likely that the next important advance in the outsourced industry would be made in the US. Since productivity increases fastest in manufacturing, losing it also slows economic growth.
When financial journalist Eamonn Fingleton anticipated the meltdown of the New Economy in the late nineties, his predictions were dismissed by mainstream economic writers as "farfetched. " Now, with the New Economy in ruins and America mired in recession, Fingleton's avowedly contrarian take on mainstream economic thinking is all the more urgent. Written in clear, lucid prose that renders the complexity of the world economy clear to the general reader, Unsustainable is a masterly survey of how the U. S. economy's turn from manufacturing to a more service-based, "postindustrial" economybased on finance, entertainment, and computer softwarehas been an unmitigated disaster…
I’ve read countless books and articles on business, leadership, and sustainability—but the ones I return to are those that grapple with purpose. I’m drawn to anything that challenges the "business as usual" status quo and shows how business can be a force for good. Having worked across sectors and shaped my own thinking around the challenges facing business and society, I know how powerful purpose can be when done right. But more than that, I feel it—these books fuel my belief that meaningful change is possible. If you care about business’s potential to positively shape society and the planet, give them a go.
Reading this bookhad a profound impact on me–as did the author himself. I had the privilege of meeting Colin Mayer in his wood-paneled office and interviewing him for my own book—an experience that deepened my respect for his thinking. I found myself nodding in agreement as he laid out how far corporations have drifted from their true purpose.
I was struck by his call to move from ownership to stewardship and how closely it aligned with my own belief that purpose must sit at the heart of business. His critique helped sharpen my understanding of corporate governance and reaffirmed my beliefs in the need for a better way forward for business and its relationship with society.
The corporation is one of the most important and remarkable institutions in the world. It affects all our lives continuously. It feeds, entertains, houses and, employs us. It generates vast amounts of revenue for those who own it and it invests a substantial proportion of the wealth that we possess. But the corporation is also the cause of immense problems and suffering, a source of poverty and pollution, and its failures are increasing. How is the corporation failing us? Why is it happening? What should we do to restore trust in it? While governments are subject to repeated questioning and…
I’ve always been interested—a vast understatement to anyone who knows me—in what makes people tick. I’ve focused on analyzing business actors – bankers, lawyers, investors, executives, shareholders, and others. What do they want? Some combination of money, power, or prestige? How does loving to win fit in? How about hating to lose? When is enough (money/power/prestige) enough? What do they think is ok to do to get what they want? What do they think is not ok? Amazingly, as a law professor, I can pursue that interest as part of my job, and – I think and hope – do so in a way that might help lawmakers, regulators, and policymakers do better.
As everyone knows at this point, anything Michael Lewis writes will be enormous fun to read, while being about something really important—something he’ll make you care about even if you didn’t when you started the book.
In this case, the subject is people who bet on the direction of mortgages (and thus, house prices), and how those who bet on a huge plunge were right. This book has an amazing cast of characters, all richly drawn: some are smart, some are not so smart; some are excellent schmoozers, some can barely tolerate human interaction; some care a lot about money, some care more about being right, especially if everyone else is wrong.
Each book I've recommended cries out to be made into a movie. This one actually was.
The real story of the crash began in bizarre feeder markets where the sun doesn't shine and the SEC doesn't dare, or bother, to tread: the bond and real estate derivative markets where geeks invent impenetrable securities to profit from the misery of lower- and middle-class Americans who can't pay their debts. The smart people who understood what was or might be happening were paralyzed by hope and fear; in any case, they weren't talking.
Michael Lewis creates a fresh, character-driven narrative brimming with indignation and dark humor, a fitting sequel to his #1 bestseller Liar's Poker. Out of a…
In an age of splendor, a heretic king strips Egypt bare—forcing his queen to quell rebellion and plunging his children into a conspiracy against the crown.
Salvation in the Sun follows Nefertiti as she ascends the throne beside Pharaoh Amenhotep—soon to become Akhenaten—just as he declares war on Egypt’s ancient…
I am a retired professor of philosophy, but my academic training was in modern languages. I am also an active jazz saxophonist. My dissatisfaction with many established approaches to literature led me to look at literary theory, which then made me focus on philosophy. Academic philosophy, though, seemed to me too often to concentrate on questions about theorising knowledge that neglected questions about how we actually make sense of the world. This led me to reassess the importance of art, particularly music, for philosophy. My chosen books suggest alternative ways of looking at the concerns of philosophy at a time when humankind’s relationship to nature is clearly in deep crisis.
I have never found many philosophical accounts of ethics very satisfactory, because they don’t adequately explore how value is rooted in the myriad ways we relate to the world.
Graeber’s book takes a key notion, debt, that connects economics to ethics, in order to try and understand the origins and development of the distortions of human relationships that are characteristic of modern capitalism.
His conclusion that ‘money has no essence. It’s not “really” anything; therefore, its nature has always been and presumably always will be a matter of political contention’, which he arrives at through a detailed historical and anthropological investigation of debt, led me to reexamine very many assumptions about how the world works.
Now in paperback: David Graeber's “fresh . . . fascinating . . . thought-provoking . . . and exceedingly timely” (Financial Times) history of debt
Here anthropologist David Graeber presents a stunning reversal of conventional wisdom: he shows that before there was money, there was debt. For more than 5,000 years, since the beginnings of the first agrarian empires, humans have used elaborate credit systems to buy and sell goods—that is, long before the invention of coins or cash. It is in this era, Graeber argues, that we also first encounter a society divided into debtors and creditors.
I have been a financial analyst for over 30 years, including two as a fund manager specializing in currencies and commodities with a strong focus on fundamental analysis. These two markets are driven by distinct forces that must be understood to trade profitably and consistently. Ignoring these dynamics leads to pure speculation rather than a solid approach. Over time, I realized how essential it is to move beyond short-term trading and base decisions on solid fundamentals. Through Trading with David (website and YouTube channel), I share my insights and analyses, helping traders develop a deeper understanding of market dynamics and make well-founded trading choices.
I deeply appreciate this book because it offers a firsthand account of the 2008 financial crisis from someone who was at the heart of it. Understanding the actions of central banks is fundamental for Forex trading, and Bernanke’s insights provide a clear view of how monetary policy decisions shape currency movements.
What makes this book invaluable is how Bernanke explains the rationale behind key interventions, including interest rate cuts and quantitative easing, and their impact on the global economy. His perspective helped me refine my approach to analyzing central bank policies and their influence on Forex markets.
I’m an economist who started out in stockbroking. But that felt like an exploitative industry and, looking for a more positive role, I moved to the consumer organisation Which? There, I cut my teeth helping people make the most of their money and then started my own freelance business. Along the way, I’ve worked with many clients (including financial regulators and the Open University where I now also teach), taken some of the exams financial advisers do and written 30 or so books on personal finance. The constant in my work is trying to empower individuals in the face of markets and systems that are often skewed against them.
Much of personal finance relies on the premise that you will achieve your goals by investing in economic growth.
One narrative says we can play our part in tackling climate change by shifting our investments towards sustainable growth – for example, backing green technologies and carbon capture. However, Latouche questions whether economic growth is compatible at all with living within our planet’s resources.
He argues that we have to detach from the cycle of over-consuming and over-producing that is implicit in targeting economic growth and instead shift to a goal of maximising human wellbeing. His radical alternative is a world where we work less, share more, and respect nature.
It is arguably the only real solution to the climate crisis, but powerful vested interests stand in the way of its adoption.
Most of us who live in the North and the West consume far too much - too much meat, too much fat, too much sugar, too much salt. We are more likely to put on too much weight than to go hungry. We live in a society that is heading for a crash. We are aware of what is happening and yet we refuse to take it fully into account. Above all we refuse to address the issue that lies at the heart of our problems - namely, the fact that our societies are based on an economy whose only…
Born the heir of a master woodcutter in a queendom defined by guilds and matrilineal inheritance, nonbinary Sorin can’t quite seem to find their place. At seventeen, an opportunity to attend an alchemical guild fair and secure an apprenticeship with the…
I ended up in financial journalism by happenstance (it was pretty much the only corner of the media world that was still hiring when I graduated in the early 2000s). But I fell in love with it. To understand the world, you have to understand money. Whether you like it or not, it is the hidden wiring that binds us all together. I’ve found that reading history books on finance and economics has helped me better understand what is going on today, so I hope the books on this list will help you do the same.
Sometimes the obvious pick is still the right pick, and anyone interested in the history of financial shenanigans – outright frauds or merely weapons-grade idiocy – has to read Kindleberger.
There’s a reason why it remains a stone-cold classic that bears reading (and re-reading) almost half a century after it was first published.
In the Eighth Edition of this classic text on the financial history of bubbles and crashes, Robert McCauley joins with Robert Aliber in building on Charles Kindleberger's renowned work. McCauley draws on his central banking experience to introduce new chapters on cryptocurrency and the United States as the 21st Century global lender of last resort. He also updates the book's coverage of the recent property bubble in China, as well as providing new perspectives on the US housing bubble of 2003-2006, and the Japanese bubble of the late 1980s. And he gives new attention to the social psychology that leads…
