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The best books on finance and economics

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I loved Thinking, Fast and Slow, but reader beware: the replicability of social-psychology experiments is very poor. Priming, the subject of chapter 4, may not be anywhere near as powerful as Kahneman suggests. See


It is important to note the significance of 1976. It is the year, with Mao's passing, the Cultural Revolution* ended. To say one person was able to effectuate the fate of so many ("the world"!) is a grossly irresponsible mis-statement. Also, who ended the Cultural Revolution and who led as soon as it ended? That is a vitally important Q and important piece of history. Supposing a clone had taken over and continued the Revolution, instead of "what difference does it make if the cat is black or white as long as it catches mice?". I have not know Buttonwood to make such a grossly sloppy representation like this. Nonetheless, thank you for the second of a series. The recommended books are amazing; the Ted link is amazing, and the contribution of other commenters, not robots or end-stage ideologues or various "PC" or "Un-PC" or "Uber-PC" (one of those, never could figure out which, I doubt if they could themselves) who would haul in their you-read-one-you-read-them-all-dog-and-pony-act, are amazing. All in all, thank you.
* There are signs said Revolution has reared the same head in America - angry, anti-knowledge, anti- intelligentsia, anti-any-type-of-reading-outside-the-Black Book - i.e., the Holy Bible (then it was the Red Book), for they believe all the answers to anything and everything you ever want answers for are in the "Book", anti-science, anti-classical literature, anti-map-reading, anti-anyone-at-all-who-is-a-foreigner, etc. etc. etc. Say anything to a cultural revolutionist you disagree with them, you get to be called an abominable "Progressive", "Liberal", "Leftist", "Elite". Some even say you are "Mentally Ill" . The core and essence of the rage are the same. The labels are a little different directionally speaking ("Right" and "Left" switched place), otherwise identical. Good luck to America. Let's hope it is a mild cold, not a flu.

ashbird in reply to ashbird

The Cultural Revolution exerted its influence for the country roughly from 1966 on, and abruptly ended in 1976 when ZhouEnLai took the helm. Fluent in French and steeped in his early years in political theories and economics in the classrooms of Sorbonne, consolidated a disorganized government, formed new foreign policy and economic policy and developed a new economy. A previous "shut door" policy was reversed. Elegant in elocution, both in classical Chinese, modern Chinese, and French, Zhou was one of those rare statesmen you seldom see in the history of any country.

Ed Zimmer

Some really great books here! But I would have liked to have seen at least one heterodox book - like Warren Mosler's "The 7 Deadly Innocent Frauds of Economic Policy" - included.