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We resume with Keynes's *General Theory*
We'll do chapter seven for Thursday. If you need to get up to speed, here are previous installments in the series.
By the way, what do you all want for the *next* book club?
Posted by Tyler Cowen on January 12, 2009 at 01:31 PM in Books, Economics | Permalink
Comments
The Race Between Education and Technology
Posted by: Andrew at Jan 12, 2009 1:41:55 PM
select chapters from Schumpeter's History of Economic Analysis
Posted by: bastiat at Jan 12, 2009 1:48:45 PM
Roger Garrison, _Time and Money_.
Posted by: Greg Ransom at Jan 12, 2009 1:51:29 PM
The Choice by Russ Roberts
(haven't read this but I've heard its good)
Posted by: libfree at Jan 12, 2009 1:53:17 PM
How about a Peter Schiff book? "Crash Proof" perhaps?
I would much appreciate a sustained engagement with the ideas of Schiff and the ABCTers. I am not necessarily a huge fan, but I am naturally curious to learn more given his apparent prognosticatory capabilities.
Posted by: mk at Jan 12, 2009 1:55:50 PM
adam smith, TMS
Posted by: Michael at Jan 12, 2009 1:58:50 PM
"Capitalism & Freedom" or "The Road to Surfdom"
Posted by: Jake Russ at Jan 12, 2009 1:59:04 PM
I think it would be especially interesting if the readings relied heavily on and/or contradicted each other. Anything that builds on or responds to Keynes's General Theory would make for an interesting new edition. I'm not sure if the book club was meant to be a historical primer in economic theory, but none of my undergraduate economics coursework relied heavily on historical perspectives (except for Marxist Economics), and this walk-through has been a really enjoyable supplement to my macro theory coursework. The Road to Serfdom or the Wealth of Nations are books that I wouldn't mind reading.
Posted by: Blake at Jan 12, 2009 2:01:07 PM
The Magician's Book: A Skeptic's Adventures in Narnia by Laura Miller
Posted by: Ken G at Jan 12, 2009 2:02:26 PM
Sorry, Jake--it ain't a road that leads one to "Surfdom," it's a gnarly wave!
Posted by: Jeff H. at Jan 12, 2009 2:04:35 PM
I second *Road to Serfdom*
Posted by: David Burk at Jan 12, 2009 2:04:36 PM
I think I would prefer another classic.
I think a large portion of your readership could use either a brushing up or a first look at the classics that have shaped modern economics.
Posted by: Jason at Jan 12, 2009 2:06:10 PM
The Calculus of Consent.
Posted by: Student at Jan 12, 2009 2:14:12 PM
How about Schumpeter's The Theory of Economic Development, or despite your reservations, Capitalism, Socialism and Democracy?
Posted by: BH at Jan 12, 2009 2:17:43 PM
Thanks for catching my mistake, Jeff. Careless error.
Posted by: Jake Russ at Jan 12, 2009 2:18:45 PM
Some kind of Schumpeter or similar.
Posted by: Pareto at Jan 12, 2009 2:18:55 PM
Wealth of Nations
Posted by: ao at Jan 12, 2009 2:20:50 PM
I agree, Smith's TMS
Posted by: Jamie C at Jan 12, 2009 2:27:20 PM
Hayek or Smith
Please!
Posted by: DW at Jan 12, 2009 2:28:00 PM
I second Calculus of Consent.
Although for something completely different, I recommend Ken Binmore's Natural Justice. This book is the short version of his two part Game theory and the Social Contract. The book argues for an evolutionary game theoretic approach to understand the development of human moral principles.
Posted by: Dan in Euroland at Jan 12, 2009 2:33:12 PM
Thorstein Veblen's "The Theory of the Leisure Class", please!
Posted by: Lupin at Jan 12, 2009 2:34:11 PM
Douglass North, or Al Hirschman.
Posted by: mkamdar at Jan 12, 2009 2:37:21 PM
Definitely something austrian... Theory of Money and Capital or Road to Serfdom?
Posted by: Zachary Kurtz at Jan 12, 2009 2:37:47 PM
Anything by John Steinbeck.
Posted by: Bob Murphy at Jan 12, 2009 2:39:09 PM
"I think it would be especially interesting if the readings relied heavily on and/or contradicted each other. Anything that builds on or responds to Keynes's General Theory would make for an interesting new edition."
I guess if you follow the above logic, Friedman/Schwartz would be an obvious choice. However I do not view the reading list as a chain of reasoning, sui generis.
I personally lean on the reading group as a counterweight to the clutter in the financial media. By reading great economists I clean the cobwebs of hastily-proposed economic logic we see so frequently in the media and rely instead on those who thought long and well of the same problems but in a different time.
So I would prefer a step backwards, in the direction of the worldly philosophers: Mandeville, Smith, etc.
I disagree we should "build" on Keynes. Rather the readings should be inspired by policy debates (this was, after all, the original impetus that led us towards the General Theory).
And what with all these talks of deficits mattering, why not try Ricardo?
Posted by: Alex at Jan 12, 2009 2:39:21 PM
