I’ve read a lot of pop-econ books as of late, so I thought I’d put together a little recap. These are some of the highlights of what have overall been some very enlightening books:
Freakonomics: This is the godfather of all the recent books. It made a huge impact on the field, opening the way to authors who finally had a book to say “THAT! I wanna write something like that!” The book collects some very interesting studies that attempt to get at real world economics. Cheating in sumo wrestling, dishonesty among realtors, and a very controversial take on the relationship between abortion and crime. It’s a worthwhile book to help you think about economics more broadly than just boring numbers about the value of the dollar and interest rates (though these can be very exciting, if you read about them).
The Economic Naturalist: Another writer described this book as being high concept low detail, where Freakonomics was low concept high detail. I think that is a pretty apt description. The Economic Naturalist are essays that answer questions about how things work in the world. Where Freakonomics looked at statistical details, this book answers questions based on economic principles, which assumes that people and companies make rational decisions. Definitely worth the read for clear, concise examples of economic thinking.
More Sex is Safer Sex: A very opinionated book with a libertarian slant. The author is quite a bit crankier about his answers, but if you don’t let the writing style get to you, there’s a lot of interesting ideas to find. The title refers to a study that suggests if there was limited promiscuity amongst a wider group of people, there would be less outbreaks of STD’s. You’ll have to read the book to get the details. If controversial ideas like that are of interest, this is the book for you.
Discover Your Inner Economist: Another high-concept book. Definitely oriented to how to think and approach different situations, this book takes the incentive idea and applies it to everyday life. Where other books focus more on describing economics of the everyday, this focuses more on prescriptions for making good choices. A fun book, I would recommend this one after reading some of the other ones.
Predictably Irrational: This book looks at one of the central ideas to economics: rationality. Economists assume that people will make the best rational decision for the circumstances they’re in. This book covers research that challenges that viewpoint. Behavioral economics is the newest branch of economics, and is extremely important to understand. It’s also a fascinating sub-discipline of psychology, looking at how we make our everyday decisions. While there may be some debate about how much rationality and irrationality there is in the human psyche, this is all important material to digest. Very highly recommended.
The Logic of Life: A good counterpoint to the book above, this book approaches things from a traditional economic standpoint, while still acknowledging the irrationality that can come into play. This book would probably be mid-concept mid-detail, with discussions of studies as well as their ideas and implications. This book as well as the author’s prior The Undercover Economist serve as good crash courses in basic economic thinking.
Predictably Irrational: The Hidden Forces That Shape Our Decisions
Discover Your Inner Economist: Use Incentives to Fall in Love, Survive Your Next Meeting, and Motivate Your Dentist
Freakonomics [Revised and Expanded]: A Rogue Economist Explores the Hidden Side of Everything
More Sex Is Safer Sex: The Unconventional Wisdom of Economics
The Logic of Life: The Rational Economics of an Irrational World
The Economic Naturalist: In Search of Explanations for Everyday Enigmas
