Here is a list of the six best books on “economic basics.” These books lay the foundation for understanding the fundamentals behind the current global economic crisis.
This classic work by Hazlitt is one of the best beginner’s books on basic economic principles. This book is for anyone who wants a clear and easy-to-understand explanation of how an economy works. It is highly regarded by the Mises Institute and other Austrian Economist circles. This is a great place to start building your knowledge of Austrian Economics.
Another excellent book for neophytes in Austrian Economics, How An Economy Grows and Why it Crashes is written in a pseudo-children’s book style, complete with illustrations and easy-to-grasp stories about desert-islanders who see the creation, growth, and failure of an economy. Although funny, accessible, and poignant, make no mistake: this is not fluff. This book is chock full of Schiff’s insights as he explains how we, too, are on the same path of the desert-islanders who destroyed their economy by debasing the money supply and creating inflation.
Thomas Woods is an American historian, economist, political analyst, and Senior Fellow at the Mises Institute. In this book Woods gives his reasons for the current financial crisis and discusses how US economic policy and the Federal Reserve are at the forefront of this situation.
Ron Paul draws on American history, economics, and fascinating stories from his own long political life to argue that the Fed is both corrupt and unconstitutional. The Fed is inflating currency today at nearly the same levels as the Weimar Republic or Zimbabwe, a practice that threatens to put us into an inflationary depression where $100 bills would become worthless. What most people do not realize is that the Fed was created by the Morgans and Rockefellers at a private club off the coast of Georgia.
The central idea of Basic Economics, a classic already translated into six languages, is that the fundamental facts and principles of economics do not require jargon, graphs, or equations, and can be learned in a relaxed and even enjoyable way.
For other economic book that we recommended see our economic book library here.