Do you have any book recommendations to learn about finance/economy?

[nic1067]

I read the millionaire fastlane and other self improvement books. Now I want to educate myself on economics. Does anyone have some book recommendations for me?

 

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[SEBASTlAN]

Economics 101 by Alfred Mill

 

[MTF]

https://www.amazon.com/dp/047052670X/?tag=tff-amazonparser-20

This is the greatest and simplest book on economy I've ever read. They start the story from three guys living on a tropical island and build an entire economy out of that, explaining how it all grows.

 

[Johnny boy]

If you are a smart person then read this book

 

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[Kevin88660]

Your best economics guide is wikipedia and you have a lot of time read the citations and reference given in the wikipedia.

I do have a background in Economics. For the layperson when they want to know more about economics what they mean is understanding what they read in the news.

If you start with textbooks you will be reading a lot of things that are irrelevant to today’s economies.

Economics thoughts changed across centuries.

Before 1800s prevailing economics thought is mercantilism. Nations try to export more in return get more gold and silver as store of wealth.

In the 1800s and early 1900s there is a flourishing of classical Economics theory that builds the foundation of modern microeconomics. You will be taught mathematical models and graphs that inevitably show markets will always maximize the benefits for the voluntary participants.

After world war 2 Keynes’ thought becomes popular. It built the framework of macroeconomics theoretical structure on how government can play an active role in times of crisis.

Milton Friedman did a correction to Keynes’s theory that emphasis more on money supply. It focuses more on “money printing” to solve economics crisis than government spending, while maintaining money supply growth slow during non-crisis periods.

Today’s economics theory is more refined and surgical focusing on credit, debt and cashflow (things related to banking system in details) instead of just broad money supply.

Old textbooks are still trapped in Keynes’ era and earlier.

 

[ZackerySprague]

Thr Obstacle is the way by Ryan Holiday.