Starting an economics degree? Read these five books
By Morten Jerven.It is great to use numbers, but you have to be careful. This book, by a specialist in African economies, shows how important that is. A lot of economists plug data from Africa into huge statistical models, seeking to explain, for instance, why social trust is higher in one part of a country than another. But a lot of this research is based on shoddy data.
if you want to understand why capitalism—and economists’ way of thinking—has triumphed the world over. By the beginning of the 1990s, it was clear that the capitalist system had defeated the communist one. Today, however, many people yearn to move to a new system, such as “millennial socialism”. A left-leaning scholar, Mr Milanovic sympathises with these feelings. But ultimately he finds many radical prescriptions unconvincing.
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