Economics

Last update: 21 Dec 2024 22:14
First version: Sometime in the 1990s, last major edit 17 April 2001

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I have always felt a certain horror of political economists, since I heard one of them say that he feared the famine of 1848 in Ireland would not kill more than a million people, and that would scarcely be enough to do much good.
--- Benjamin Jowett (attrib.)

History of markets. QWERTY. Other parts of evolutionary economics. Arrow-Debreu model of general equilibrium. Market failure. Input-output models. Planning and regulation, esp. during the World Wars. Economic policy of US, Europe, East Asia, 3rd World; economists in politics. Development economics, growth theory. Corporations. Finance. Claims of analogies between physics and conventional economics (whether with laudatory or debunking intent) --- not to be confused with applying methods of theoretical physics to economic questions ("econophysics"). Agent-based modeling.

See also
• Decision Theory
• DSGEs
• Duality between Knowledge Centralization and Market Completeness
• Historical Materialism
• Information Economy
• Institutional Economics
• Knowledge as a Factor of Production
• Marxism(s)
• Planned Economies
• Socialism, Market Socialism
• the Socialist Calculation Debate
• Transmission of Inequality
• Optimization

Recommended, non-technical:
• Dean Baker, The Conservative Nanny State: How the Wealthy Use the Government to Stay Rich and Get Richer
• Stephen S. Cohen and J. Bradford DeLong, The End of Influence: What Happens When Other Countries Have the Money
• Partha Dasgupta, Economics: A Very Short Introduction
• J. Bradford De Long [Prof. at UC Berkeley; arrived after I graduated, or else his courses'd be another foolishly wasted opportunity.]
  • Slouching Towards Utopia [Draft of an economic history of the 20th century]
  • "Old Rules for the New Economy"
  • "The Corporation as a Command Economy"
  • and Michael Froomkin, The Next Economy?
• Daniel Davies and Tess Read, The Secret Life of Money: Everyday Economics Explained
• William Easterly, The Elusive Quest for Growth: Economists' Adventures and Misadventures in the Tropics
• Barry Eichengreen, Globalizing Capital: A History of the International Monetary System [Review: Turning the Wheels]
• Robert H. Frank, Passions within Reason: The Strategic Role of Emotions
• Justin Fox, The Myth of the Rational Market: A History of Risk, Reward, and Delusion on Wall Street [Review by Steve Laniel]
• John Kenneth Galbraith
  • The Affluent Society
  • The New Industrial State
  • Money: Whence It Came, Where It Went [Review by Stephen Laniel]
  • The Great Crash: 1929
  • A Tenured Professor
  • Culture of Contentment
  • The Good Society [Review by Paul Krugman]
  • a typically prescient article from early 1987
• Robert Heilbroner, The Worldly Philosophers [If you don't have time to actually learn economics, this will help you fake it. Faking it is very important in a soi-disant information society, and for the following reason: if you are over your head in debt, the last thing you want to do is suddenly live frugally.]
• Doug Henwood, Wall Street: How It Works and for Whom [Free online!]
• John Maynard Keynes
  • Economic Consequences of the Peace [To the best of my knowledge, the only accurate economic prophecy ever, written in Keynes's usual immaculate prose.]
  • Essays in Persuasion [Especially the last essay, "Economic Possibilities for Our Grandchildren".]
• Paul Krugman
  • The Age of Diminished Expectations
  • Peddling Prosperity [Shows, very effectively, that all the conventional wisdom about America's economic problems --- "the twin deficits," globalization (for more on which, see Pop Internationalism), the success of supply-side economics, "high-value added, high-technology manufacturing jobs," etc., etc., is wrong.]
  • Pop Internationalism [Review: International Economics with the Brothers Grimm, or, Krugman Discovers Ideology]
• Charles Lindblom
  • The Market System: What It Is, How It Works, and What to Make of It [Probably the single best treatment of the subject I have read. Reviews by Danny Yee and George Scialabba.]
  • "The Market as Prison", The Journal of Politics 44 (1982): 324--336 [JSTOR]
• Richard R. Nelson, "The Complex Economic Organization of Capitalist Economies", Capitalism and Society 6 (2011): 2
• Karl Polanyi, The Great Transformation
• John Quiggin
  • Zombie Economics: How Dead Ideas Still Walk Among Us
  • "Cities, Connections and Cronyism", Australian Public Policy Program Working Paper: P06_3
• Thomas Schelling, Micromotives and Macrobehavior
• Joseph Schumpeter
  Capitalism, Socialism, and Democracy [Schumpeter was arrogant, elitist, reactionary and brilliant. Half the time he had me saying "why didn't I see that?" and half the time he has my blood boiling. These two states are not mutually exclusive. --- My father suggests that Schumpeter should be counted as the most unorthodox Marxist ever, but perhaps he must share the honor with Neurath.]
  • "Science and Ideology", American Economic Review 39 (1949): 346--359 [JSTOR]
• Amartya Sen, Development as Freedom
• Robert J. Shiller, Irrational Exuberance [Is the stock market overvalued? Hell yes! (Comment written in late 1999; still true in April 2001.)]
• Herbert Simon
  • The Sciences of the Artificial, [Especially ch. 2, "Economic Rationality." "As Samuel Johnson said of the dancing dog, `The marvel is not that it dances well, but that it dances at all' ---- the marvel is not that markets optimize (they don't) but that they often clear."]
  • "Rationality as Process and as Product of Thought", American Economic Review 68 (1978): 1--16 [JSTOR]
• Tom Slee, No One Makes You Shop at Wal-Mart: The Surprising Deceptions of Individual Choice
• Robert Solow
  • Work and Welfare
  • "How Did Economics Get That Way and What Way Did It Get?", Daedalus 126 (Winter, 1997): 39--58 [JSTOR]
• Francis Spufford, Red Plenty [Historical scientist fiction about the history of economics. Not-exactly-a-review: In Soviet Union, Optimization Problem Solves You]
• Statistical Abstract of the United States ["The best book published in the America.... If more people would get into the habit of checking it, our politics would be utterly transformed." --- Paul Krugman.]
• Lester Thurow, The Zero-Sum Society [But many of his later books aren't worth the time, and some are actively misleading]
• Shigeto Tsuru, Japan's Capitalism

Recommended semi-technical works (jargon but no math):
• Dean Baker, "Trade and inequality: The role of economists", Real-World Economics Review 45 (2008)
• Mark Blaug, "The Fundamental Theorems of Modern Welfare Economics, Historically Contemplated", History of Political Economy 39 (2007): 185--207
• Samuel Bowles and Herbert Gintis, "Walrasian Economics in Retrospect", Quarterly Journal of Economics (2000): 1411--1439 [PDF reprint]
• Anne Case and Angus Deaton, Deaths of Despair and the Future of Capitalism
• Andy Clark, "Economic Reason: The Interplay of Individual Learning and External Structure" [PDF reprint]
• David Colander, Hans Follmer, Armin Haas, Michael Goldberg, Kataraina Juselius, Alan Kirman, Thomas Lux and Brigitte Sloth, "The Financial Crisis and the Systemic Failure of Academic Economics" [PDF preprint]
• David Colander, Peter Howitt, Alan Kirman, Axel Leijonhufvud and Perry Mehrling, "Beyond DSGE Models: Towards an Empirically-Based Macroeconomics" [PDF preprint]
• Peter Dorman, "What would a scientific economics look like?", Real-world Economics Review 47 (2008): 166--172
• Robert Driskill, "Deconstructing the Argument for Free Trade: A Case Study of the Role of Economists in Policy Debates", Economics and Philosophy 28 (2012): 1--30 [PDF preprint[
• Jan Elster, "Excessive Ambitions", Capitalism and Society 4:2 (2009): 1
• Nicola Giocoli, "From Wald to Savage: homo economicus becomes a Bayesian statistician" [preprint]
• Bennett Harrison, Lean and Mean [Everything you know about small companies and business networks is wrong.]
• Kevin D. Hoover, "Reductionism in Economics: Intentionality and Eschatological Justification in the Microfoundations of Macroeconomics" [PDF preprint via Prof. Hoover]
• F. A. Hayek, Individualism and Economic Order [See comments under "Hayek".]
• Frank Levy and Peter Temin, "Inequality and Institutions in 20th Century America", MIT Economics Working Paper 07-17 [SSRN]
• Paul Pfleiderer, "Chameleons: The Misuse of Theoretical Models in Finance and Economics" [PDF preprint]
• Ole Rogeberg and Hans Olav Melberg, "Acceptance of unsupported claims about reality: a blind spot in economics", Journal of Economic Methodology 18 (2011): 29--52 [By no means is the problem described here limited to economics, though economists may be unusually blind to it, owing in large part to the entirely malign and unwarranted influence of Milton Friedman. See also]
• Alexander Rosenberg, Economics: Mathematical Politics or Science of Diminishing Returns?
• Reinhard Selten, "Evolution, Learning, and Economic Behavior", Games and Economic Behavior 3 (1991): 3--24 [In the form of a dialogue between a Bayesian, an economist, an experimental psychologist, an adaptationist biologist, a population geneticist, and an ethologist]
• Joseph Stiglitz
  • Whither Socialism? [This book is really much broader than its title suggests; effectively it's a primer on the economics of imperfect information and imperfect competetion, and their implications. Review by Steve Laniel]
  • "Information and the Change in the Paradigm in Economics" [Nobel Prize lecture, 2001. PDF]
• Sweezy and Magdoff [Of course they're Marxists. They're also damn good economists, and they've supported distinctly fewer dictators than Milton Friedman. Deal. --- These books, it should be said, are about capitalism, not its alternatives.]
  • Stagnation and the Financial Explosion
  • The Irreverisble Crisis
• Richard H. Thaler, The Winner's Curse: Paradoxes and Anomalies of Economic Life [Why rational-expectations-and-efficiency is demonstrably not right, though there's no comprehensive replacemen]

Recommended technical works (math and/or heavy jargon):
• Nabil al-Najjar, "Decision Makers as Statisticians: Diversity, Ambiguity and Learning", Econometrica forthcoming [preprint. The bits with finitely-additive probability are weird; I think they could be replaced by sticking to countably additive probability and considering convergence rates.]
• Gary S. Becker, "Irrational Behavior and Economic Theory", The Journal of Political Economy 70 (1962): 1--13 [JSTOR. Becker is responsible for a lot of economics which I dislike, see e.g. the paper by Rogberg and Melberg above, but this is genuinely brilliant and important. It shows that the important and well-confirmed predictions traditional economics makes about market behavior, basically the laws of supply and demand, do not require individual consumers or producers to be maximizers at all, but simply to respect budget constraints. He does not, here, seem to appreciate just how thoroughly this undermines the normative, welfare side of traditional economics... --- I have expanded these thoughts into a separate post.]
• Theodore Bergstrom and John Miller, Experiments with Economic Principles [Textbook on experimental economics; very nice]
• Rebecca M. Blank, Changing Inequality
• Samuel Bowles, Microeconomics: Behavior, Institutions, and Evolution [In my humble and supremely unqualified opinion, the best book on microeconomics now available.]
• Samuel Bowles and Herbert Gintis, "The Inheritance of Inequality", Journal of Economic Perspectives 16 (2002): 3--30 [PDF reprint]
• William A. Brock and Cars H. Hommes, "A Rational Route to Randomness", Econometrica 65 (1997): 1059--1095
• Modibo K. Camara, "Computationally Tractable Choice" [PDF via Dr. Camara. Comments]
• Bent Jesper Christensen and Nicholas M. Kiefer, Economic Modeling and Inference [Good as a summary of current recommended practices for setting up, solving, and estimating dynamic programming models. I wanted to like this more than I did. Review: An Optimal Path to a Dead End.]
• James Crotty, "Are Keynesian Uncertainty and Macrotheory Compatible? Conventional Decision Making, Institutional Structures, and Conditional Stability in Keynesian Macromodels" [PDF preprint. Well, at least half a recommendation but not a complete one. There is some stuff in here about "ergodicity" which is, as a mathematical point, just wrong. But there is a core of a correct idea, which is that it is insane to think that economic agents can list all the things which could happen and assign probabilities to them, so the usual sort of decision theory is clearly inapplicable. Instead people cope using conventions and institutions, which tame uncertainty (especially — though Crotty doesn't emphasize this — by creating coordination points), until they don't.]
• Angus Deaton, "Instruments, Randomization, and Learning about Development", Journal of Economic Literature 48 (2010): 424--455 [PDF reprint via Prof. Deaton]
• Gerard Debreu, Theory of Value: An Axiomatic Analysis of Economic Equilibrium [One of the stupidest things I ever did was pass up a chance to take mathematical economics from Debreu. This is neo-classical economics in its purest form, and absolutely beautiful. PDF]
• Steven N. Durlauf, "How Can Statistical Mechanics Contribute to Social Science?" Proceedings of the National Academy of Sciences USA 96 (1999): 10582--10584
• Jesus Felipe and F. Gerard Adams, "``A Theory of Production'': The Estimation of the Cobb-Douglas Function: A Retrospective View", Eastern Economic Journal 31 (2005): 427--445 [scanned PDF reprint via Dr. Felipe. The Cobb-Douglas "aggregate production function" is demonstrably a consequence of an accounting identity plus stable distribution of income; if it ever seems to have a less than perfect fit to the data, that's because the stable-distribution assumption doesn't quite hold. It thus contains no information beyond those income shares.]
• Jesus Felipe and Franklin M. Fisher, "Aggregation in Production Functions: What Applied Economists Should Know", Metroeconomica 54 (2003): 208--262 [PDF reprint]
• Franklin M. Fisher
  • "The Stability of General Equilibrium --- What Do We Know and Why Is It Important?" [PDF]
  • Franklin M. Fisher, Disequilibrium Foundations of Equilibrium Economics
• James K. Galbraith, Olivier Giovanni and Ann J. Russo, "The Fed's Real Reaction Function: Monetary Policy, Inflation, Unemployment, Inequality — and Presidential Politics" [University of Texas Inequality Project working paper 42, 2007]
• Herbert Gintis, Game Theory Evolving: A Problem-Centered Introduction to Modeling Strategic Interaction
• Herbert Gintis and Antoine Mandel, "The Stability of Walrasian General Equilibrium under a replicator dynamic" [PDF]
• Uri Gneezy and Aldo Rustichini, "A Fine Is a Price", Journal of Legal Studies 29 (2000): 1--17 [PDF reprint via Prof. Gneezy]
• Trygve Haavelmo, "The Probability Approach in Econometrics", Econometrica 12 (1944, supplement): iii--115 [JSTOR]
• Joseph Y. Halpern, "Beyond Nash Equilibrium: Solution Concepts for the 21st Century", arxiv:0806.2139
• Jack Hirshleifer, "The Private and Social Value of Information and the Reward to Inventive Activity", American Economic Review 61 (1971): 561--574 [JSTOR]
• Zubin Jelveh, Bruce Kogut and Suresh Naidu, "Political Language in Economics", ssrn/2535453
• Nicholas Kaldor, "The Irrelevance of Equilibrium Economics", The Economic Journal 82 (1972): 1237--1255 [JSTOR]
• Charles Kenny, "What Does the Eastern European Growth Experience Tell Us About the Policy and Convergence Debates?" [PDF preprint]
• Alan Kirman, "Whom or What Does the Representative Individual Represent?", Journal of Economic Perspectives 6 (1992): 117--136 [Answer: no one and nothing; accordingly it "deserves to be buried". JSTOR]
• Paul Krugman
  • Development, Geography and Economic Theory
  • Geography and Trade
  • The Self-Organizing Economy [Review]
• Aki Lehtinen and Jaakko Kuorikoski, "Computing the Perfect Model: Why Do Economists Shun Simulation", Philosophy of Science 74 (2007): 304--329 [This seems right as a description of the attitudes and objections, but more like reasons for economists to change their ideals than anything else.]
• Charles Manski, Identification for Prediction and Decision [Review: Better Roughly Right Than Exactly Wrong]
• Rosario N. Mantegna and H. Eugene Stanley, An Introduction to Econophysics: Correlations and Complexity in Finance [Review: Not Exactly Rocket Science]
• Richard A. Miller [Work I learned of from Seth Ackerman]
  • "Ten Cheaper Spades: Production Theory and Cost Curves in the Short Run", Journal of Economic Education 31 (2000): 119--130
  • "Firms' Cost Functions: A Reconstruction", Review of Industrial Organization 18 (2001): 183--200
• Oskar Morgenstern, On the Accuracy of Economic Observations [Read this, and you will never pay any attention to forecasters, or half of the economic news, ever again: and you'll be better off for it.]
• Michele Piccione and Ariel Rubinstein, "Equilibrium in the Jungle" [Defines a sort of economy in which all exchange happens purely through the stronger taking what they want from the weaker, and proves that its equilibria satisfy the first and second welfare theorems. PDF via Prof. Rubinstein. Longer comments: Pareto at Melos]
• Thomas Piketty, Capital in the Twenty-First Century
• Dani Rodrik
  • "When Ideas Trump Interests: Preferences, Worldviews, and Policy Innovations", Journal of Economic Perspectives 28 (2014): 189--208
  • "The Future of Economic Convergence" [PDF preprint]
  • "The Real Exchange Rate and Economic Growth" [PDF preprint]
  • "Unconditional Convergence in Manufacturing" [PDF preprint]
• Mark R. Rosenzweig and Kenneth I. Wolpin, "Natural "Natural Experiments" in Economics", Journal of Economic Literature 38 (2000): 827--874 [Shorter: We are sickened by the weakness of your instrumental variables.]
• Ariel Rubinstein, Modeling Bounded Rationality [Review: O docta simplicitas!]
• Herbert Simon
  • An Empirically-based Microeconomics
  • Models of Bounded Rationality
• Herbert Simon and F. Levy, "A Note on the Cobb-Douglas Function", Review of Economic Studies 30 (1963): 93--94 [PDF reprint from the Simon papers collection]
• Robert Solow
  • Growth Theory: An Exposition
  • Learning from "Learning by Doing": Lessons for Economic Growth
  • Monopolistic Competition and Macroeconomic Theory
• Laura Spierdijk and Mark Voorneveld, "Superstars without Talent? The Yule Distribution Controversy", The Review of Economics and Statistics 91 (2009): 648--652 [PDF preprint]
• John Sutton
  • "Gibrat's Legacy", Journal of Economic Literature 35 (1997): 40--59 [JSTOR]
  • Marshall's Tendencies: What Economists Can Know?
  • Technology and Market Structure: Theory and History
  • Sunk Costs and Market Structure: Price Competition, Advertising, and the Evolution of Concentration
• John von Neumann and Oskar Morgenstern, Theory of Games and Economic Behavior
• Martin L. Weitzman, Income, Wealth, and the Maximum Principle

To read, history of economics:
• G. C. Archibald, "Chamberlin Versus Chicago", Review of Economic Studies 29 (1961): 2--28
• Roger Backhouse and Mauro Boianovsky, Transforming Modern Macroeconomics: Exploring Disequilibrium Microfoundations, 1956--2003
• H. Spencer Banzhaf, "The Cold-War Origins of the Value of Statistical Life", Journal of Economic Perspectives 28 (2014): 213--226
• Ivan Boldyrev, "Soviet Mathematics and Economic Theory in the Past Century: A Historical Reappraisal", Journal of Economic Literature 62 (2024): 1647--1670
• Steven Brakman and Ben J. Heijdra (eds.), The Monopolistic Competition Revolution in Retrospect
• Till Düppe and E. Roy Weintraub, Finding Equilibrium: Arrow, Debreu, McKenzie and the Problem of Scientific Credit
• Sebastian Edwards, The Chile Project: The Story of the Chicago Boys and the Downfall of Neoliberalism
• Paul Erickson, Judy L. Klein, Lorraine Daston, Rebecca Lemov, Thomas Sturm and Michael D. Gordin, How Reason Almost Lost Its Mind: The Strange Career of Cold War Rationality
• M. C. Howard and J. E. King, A History of Marxian Economics
  • Volume I: 1883--1929
  • Volume II: 1929--1990
• Douglas Irwin, Against the Tide: An Intellectual History of Free Trade [Review by Krugman]
• Thomas K. McCraw, Prophet of Innovation: Joseph Schumpeter and Creative Destruction
• Mary S. Morgan, The History of Econometric Ideas
• Emma Rothschild, Economic Sentiments: Adam Smith, Condorcet, and the Enlightenment
• Agnar Sandmo, Economics Evolving: A History of Economic Thought
• Margaret Schabas, The Natural Origins of Economics [That is, the debt of economic thought, in its formative period, to ideas about the natural world]
• J. Schumpeter, History of Economic Analysis
• Thomas A. Stapleford, The Cost of Living in America: A Political History of Economic Statistics, 1880--2000

To read, not yet or not otherwise classified:
• Daron Acemoglu, Asuman Ozdaglar, and Alireza Tahbaz-Salehi, "Cascades in Networks and Aggregate Volatility" [PDF preprint]
• Frank Ackerman, Worst-Case Economics: Extreme Events in Climate and Finance
• Zoltan J. Acs and Catherine Armington, Entrepreneurship, Geography, and American Economic Growth [This seems like a reasonable idea, but the affiliation of the first author (an economist at George Mason University) is worrying.]
• A. Admati and M. Hellwig, The Bankers' New Clothes: What's Wrong with Banking and What to Do about It
• George A. Akerlof, Explorations in Pragmatic Economics
• George A. Akerlof and Rachel E. Kranton, Identity Economics: How Our Identities Shape Our Work, Wages, and Well-Being [review by Tom Slee]
• George Akerlof and Robert Shiller, Animal Spirits: How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism
• Peter S. Albin, Barriers and Bounds to Rationality: Essays on Economic Complexity and Dynamics in Interactive Systems
• Armen A. Alchian, Economic Forces at Work
• Michael Alexeev and Robert Conrad, "The Elusive Curse of Oil", The Review of Economics and Statistics 91 (2009): 586--598
• Masanao Aoki
  • New Approaches to Macroeconomic Modeling: Evolutionary Stochastic Dynamics, Multiple Equilibria, and Externalities as Field Effect
  • Modeling Aggregate Behavior and Fluctuations in Economics: Stochastic Views of Interacting Agents
• Patrik Aspers, Orderly Fashion: A Sociology of Markets
• Roger E. Backhouse
  • The Puzzle of Modern Economics: Science or Ideology?
  • The Ordinary Business of Life
• Yves Balasko
  • General Equilibrium Theory of Value
  • The Equilibrium Manifold: Postmodern Developments in the Theory of General Economic Equilibrium
• Nicholas Bardsley, Robin Cubitt, Graham Loomes, Peter Moffatt, Chris Starmer and Robert Sugden, Experimental Economics: Rethinking the Rules
• Jason Barr, Troy Tassier and Leanne Ussher (eds.), Symposium on Agent-Based Computational Economics, special issue (37:1 [Winter 2011]) of Eastern economic Journal
• Kaushik Basu, Beyond the Invisible Hand: Groundwork for a New Economics
• William J. Baumol
  • The Free-Market Innovation Machine: Analyzing the Growth Miracle of Capitalism
  • Good Capitalism, Bad Capitalism
  • The Cost Disease: Why Computers Get Cheaper and Health Care Doesn't
• Jens Beckert, Beyond the Market: The Social Foundations of Economic Efficiency
• Daniel Ben-Ami, Ferraris for All: In Defence of Economic Progress
• J.-P. Bénassy, The Macroeconomics of Imperfect Competition and Nonclearing Markets: A Dynamic General Equilibrium Approach
• B. Douglas Bernheim and Antonio Rangel, "Beyond Revealed Preference: Choice-Theoretic Foundations for Behavioral Welfare Economics", The Quarterly Journal of Economics 124 (2009): 51--104
• Giuseppe Bertola, Reto Foellmi, and Josef Zweim¨ller, Income Distribution in Macroeconomic Models
• Truman F. Bewley, Why Wages Don't Fall During a Recession
• Amar Bhidé, The Venturesome Economy: How Innovation Sustains Prosperity in a More Connected World
• Olivier J. Blanchard, David Romer, A. Michael Spence and Joseph E. Stiglitz, In the Wake of the Crisis: Leading Economists Reassess Economic Policy
• Alan S. Blinder, Asking about Prices: A New Approach to Understanding Price Stickiness
• Richard Blundell and Thomas M. Stoker, "Heterogeneity and Aggregation", Journal of Economic Literature 43 (2005): 347--391 [JSTOR]
• Tito Boeri and Jan van Ours, The Economics of Imperfect Labor Markets
• Samuel Bowles, Steven N. Durlauf and Karla Hoff (eds.), Poverty Traps
• Robert Brenner, The Boom and the Bubble
• George P. Brockway, Economists Can Be Bad for Your Health: Second Thoughts on the Dismal Science
• Marvin T. Brown, Civilizing the Economy: A New Economics of Provision
• Markus K. Brunnermeier and Ricardo Reis, A Crash Course on Crises: Macroeconomic Concepts for Run-Ups, Collapses, and Recoveries
• Pierre Cahuc and Andre Zylberberg, The Natural Survival of Work: Job Creation and Job Destruction in a Growing Economy
• Colin F. Camerer, Behavioral Game Theory: Experiments in Strategic Interaction
• Colin F. Camerer and Ernst Fehr, "When Does 'Economic Man' Dominate Social Behavior?", Science 311 (2006): 47--52
• Fred Campano and Dominick Salvatore, Income Distribution
• Andrew Caplin, Mark Dean and Daniel Martin, "Searching and Satisficing", American Economic Review 101 (2011): 2899--2922
• David Card and Alan B. Krueger, Myth and Measurement The New Economics of the Minimum Wage
• Richard E. Caves, Creative Industries: Contracts between Art and Commerce
• Jing Chen and James K. Galbraith, "A Biophysical Approach to Production Theory", arxiv:0901.2946 [Not the sort of thing I'd bother with usually, but Galbraith usually has his head on straight]
• Yiling Chen, Lance Fortnow, Nicolas Lambert, David M. Pennock, Jennifer Wortman, "Complexity of Combinatorial Market Makers" [PDF]
• Carl Chiarella, Foundations for a Disequilibrium Theory of the Business Cycle: Qualitative Analysis and Quantitative Assessment
• Michael P. Clements and David F. Hendry (eds.), Companion to Economic Forecasting
• David Colander (ed.), Post Walrasian Macroeconomics: Beyond the Dynamic Stochastic General Equilibrium Model
• Russell W. Cooper, Coordination Games: Complementarities and Macroeconomics
• Sean Crockett, Ryan Oprea and Charles Plott, "Extreme Walrasian Dynamics: The Gale Example in the Lab", American Economic Review 101 (2011): 3196--3220
• G. Cuniberti, A. Valleriani and J. L. Vega, "Effects of regulation on a self-organized market," cond-mat/0108533 [Conclusion: "the introduction of regulation on the market contributes to lower the average fitness of companies." Of course, since they define "regulation" as a penalty on companies whose fitness improves faster than normal, this is completely tendentious.]
• Dantzig, Linear Programming and Extensions
• Paul De Grauwe, Lectures on Behavioral Macroeconomics
• Sebastian de Grazia, Of Time, Work and Leisure
• Domenico Delli Gatti, Edoardo Gaffeo, Mauro Gallegati, Gianfranco Giulioni and Antonio Palestrini, Emergent Macroeconomics: An Agent-Based Approach to Business Fluctuations
• Kevin Doogan, New Capitalism? The Transformation of Work
• Robert Dorfman, Paul Samuelson and Robert Solow, Linear Programming and Economic Analysis
• Peter Dorman
  • Microeconomics: A Fresh Start
  • Macroeconomics: A Fresh Start
  • "The Coordinated Activity Theory of the Firm", ssrn/3152090 (2018)
• Peter Dorman and Les Boden, "Risk without reward: The myth of wage compensation for hazardous work" [Self-exposition, link to preprint]
• Liran Einav and Jonathan Levin, "The Data Revolution and Economic Analysis" [PDF]
• Robert B. Ekelund and Robert F. Hebert, Secret Origins of Modern Microeconomics: Dupuit and the Engineers [The book description raises a nice question, which no doubt the book deals with. Assume, for the sake of argument, that these engineers did invent the ideas of modern micro. before Marshall et al. did — did anyone else pick up on them, or did everyone actually get them from Marshall? In the later case, in what sense did modern micro. not originate with the usual suspects?]
• Roger E. A. Farmer, Expectations, Employment and Prices
• Jesus Felipe , John S. L. McCombie, The Aggregate Production Function And The Measurement Of Technical Change: 'Not Even Wrong'
• Yi Feng, Democracy, Governance, and Economic Performance: Theory and Evidence
• Nancy Folbre, Invisible Heart: Economics and Family Values
• James Forder, Macroeconomics and the Phillips Curve Myth
• Robert H. Frank
  • Choosing the Right Pond: Human Behavior and the Quest for Status
  • Luxury Fever
  • and P. K. Cook, The Winner-Take-All Society
• Paul Frijters, An Economic Theory of Greed, Love, Groups, and Networks
• Roman Frydman and Michael D. Goldberg
  • Imperfect Knowledge Economics: Exchange Rates and Risk
  • Beyond Mechanical Markets: Asset Price Swings, Risk, and the Role of the State
• Xavier Gabaix, "The granular origins of aggregate fluctuations", ssrn/1111765
• Herbert Gintis, Samuel Bowles, Robert T. Boyd and Ernst Fehr (eds.), Moral Sentiments and Material Interests: The Foundations of Cooperation in Economic Life
• Paul Glimcher, Decisions, Uncertainty, and the Brain: Science of Neuroeconomics
• Victor Ginsburgh and Michiel Keyzer, The Structure of Applied General Equilibrium Models
• Dhananjay K. Gode, Shyam Sunder, "Allocative Efficiency of Markets with Zero-Intelligence Traders: Market as a Partial Substitute for Individual Rationality", The Journal of Political Economy 101 (1993): 119--137 [JSTOR]
• Wynne Godley and Marc Lavoie, Monetary Economics: An Integrated Approach to Credit, Money, Income, Production and Wealth
• Robert J. Gordon, "Is Modern Macro or 1978-era Macro More Relevant to the Understanding of the Current Economic Crisis?" [PDF preprint via Prof. Gordon]
• Niels Joachim Gormsen and Kilian Huber, "Corporate Discount Rates", SSRN/4477545 (2023)
• John M. Gowdy, Microeconomic Theory Old and New: A Student's Guide
• Zvi Griliches, "Economic Data Issues" in Handbook of Econometrics, vol. III. [Opens: "My father would never eat minced meat patties in the old country. He would not eat them in restaurants because he didn't know what they were made of, and he wouldn't eat them at home because he did." --- Incidentally, that a set of four books, each large and solid enough to be used as catapult ammunition, can call itself a "handbook" is one of the wonders of the dismal science.]
• Benedetto Gui and Robert Sugde (eds.), Economics and Social Interaction: Accounting for Interpersonal Relations
• Hari M. Gupta and Jose R. Campanha, "Firms Growth Dynamics, Competition and Power Law Scaling," cond-mat/0201219
• Joseph Y. Halpern, "A computer scientist looks at game theory," cs.GT/0201016
• Omar Hamouda and Robin Rowley, Expectations, Equilibrium and Dynamics
• Keith Hart and Chris Hann, Economic Anthropology: History, Ethnography, Critique
• Zellig Harris, The Transformation of Capitalist Society [in the direction of giving workers more power over decisions]
• Jerry Hausman, "Contingent Valuation: From Dubious to Hopeless", Journal of Economic Perspectives 26 (2012): 43--56
• Geoffrey Heal
  • Valuing the Future: Economic Theory and Sustainability
  • Nature and the Marketplace: Capturing the Value of Ecosystem Services
• Michael Heller, The Gridlock Economy: How Too Much Ownership Wrecks Markets, Stops Innovation, and Costs Lives [Review by Stephen Laniel]
• Doug Henwood, After the New Economy
• Jack Hirshleifer, The Dark Side of the Force: Economic Foundations of Conflict Theory
• Jack Hirshleifer and John G. Riley, The Analytics of Uncertainty and Information
• Hobson, Imperialism [Hilferding and Hobson are about the unprecedented increases in global trade and the mobility of capital, emerging markets and the export of manufacturing industries to the third world: so it's more than slightly astonishing to find that they were written before the Great War.]
• Cars Hommes, Behavioral Rationality and Heterogeneous Expectations in Complex Economic Systems
• Susan Houseman, Christopher Kurz, Paul Lengermann, and Benjamin Mandel, "Offshoring Bias in U.S. Manufacturing", Journal of Economic Perspectives 25 (2011), 111--132
• William K. Jaeger, Environmental Economics for Tree Huggers and Other Skeptics
• Eric L. Jones, Cultures Merging: A Historical and Economic Critique of Culture
• Nicholas Kaldor
  • Causes of Growth and Stagnation in the World Economy
  • Economics without Equilibrium
• Steve Keen, Debunking Economics: The Naked Emperor of the Social Sciences [Review by Danny Yee]
• David A. Kendrick, P. Ruben Mercado, & Hans M. Amman, Computational Economics
• Keynes
  • Essays in Biography
  • Treatise on Money
• Charles Kindleberger, Historical Economics: Art or Science?
• Alan Kirman, "The Economic Crisis is a Crisis for Economic Theory", CESifo Economic Studies 56 (2010): 498--535
• Janos Kornai, Anti-Equilibrium
• Michael Kumhof and Romain Ranciere, "Inequality, Leverage and Crises" [IMF Working paper 10-268, PDF]
• Roberto Leombruni and Matteo Richiardi, "Why are economists sceptical about agent-based simulations?", Physica A 355 (2005): 103--109 ["We look at the following problematic areas: (i) interpretation of the simulation dynamics and generalization of the results, and (ii) estimation of the simulation model. We show that there exist solutions for both these issues."]
• Barry C. Lynn, Cornered: The New Monopoly Capitalism and the Economics of Destruction
• Alan Manning, Monopsony in Motion: Imperfect Competition in Labor Markets ["What happens if an employer cuts the wage it pays its workers by one cent? Much of labor economics is built on the assumption that all existing workers immediately leave the firm..."]
• James G. March, A Primer on Decision Making: How Decisions Happen
• Michael Margill and Martine Quinzii, Theory of Incomplete Markets
• Stephen A. Marglin, The Dismal Science: How Thinking Like an Economist Undermines Community
• Alex Marshall, The Surprising Design of Market Economies
• Mariana Mazzucato, The Entrepreneurial State: Debunking Public vs. Private Sector Myths [Review by Fred Block]
• John McMillan, Reinventing the Bazaar: The Natural History of Markets
• Diana A. Mendes, Vivaldo M. Mendes, J. Sousa Ramos, "Symbolic Dynamics in a Matching Labour Market Model",nlin.CD/0608002
• Pierre-Michel Menger, "Artistic Labor Markets and Careers", Annual Review of Sociology 25 (1999): 541--574
• Ruben Mercado, Artificial Economics: Methods, Models, and Interdisciplinary Links
• Barrington Moore, Moral Aspects of Economic Growth, and Other Essays
• Mary S. Morgan, The World in the Model: How Economists Work and Think
• Dale T. Mortensen, Wage Dispersion: Why Are Similar Workers Paid Differently?
• Jean-Pierre Nadal, Denis Phan, Mirta B. Gordon and Jean Vannimenus, "Monopoly Market with Externality: An Analysis with Statistical Physics and Agent Based Computational Economics," cond-mat/0311096
• Fuyuo Nagayama, "Wealth Inequality Among the Forbes 400 and U.S. Households Overall" [PDF preprint via Federal Reserve Bank of Philadelphia]
• Edward J. Nell, Making Sense of a Changing Economy: Technology, Markets and Morals
• Leland Gerson Neuberg, Conceptual Anomalies in Economics and Statistics: Lessons from the Social Experiment
• Kiyohiko G. Nishimura, Imperfect Competition, Differential Information, and Microfoundations of Macroeconomics
• Haim Ofek, Second Nature: Economic Origins of Human Evolution
• Brendan O'Flaherty, The Economics of Race in the United States
• André Orléan, The Empire of Value: A New Foundation for Economics
• Paul Osterman, Securing Prosperity: The American Labor Market: How It Has Changed and What to Do about It
• Muge Ozman, "Interactions in economic models: Statistical mechanics and networks", Mind and Society 4 (2005): 223--238
• Charles Perrow, Organizing America: Wealth, Power, and the Origins of Corporate Capitalism
• Dirk Philipsen, The Little Big Number: How GDP Came to Rule the World and What to Do about It
• Joel M. Podolny, Status Signals: A Sociological Study of Market Competition
• Sebastian Poledna, Michael Gregor Miess and Cars Hommes, "Economic Forecasting with an Agent-based Model" [Preprint]
• Robert E. Prasch, How Markets Work: Supply, Demand and the Real World
• Adam Przeworski, States and Markets: A Primer in Political Economy
• Hayagreeva Rao, Market Rebels: How Activists Make or Break Radical Innovations
• Don Ross, Economic Theory and Cognitive Science: Microexplanation
• Alvin E. Roth, "Repugnance as a Constraint on Markets", Journal of Economic Perspectives forthcoming (2007) [PDF preprint. Thanks to reader Nicolas D. P. for pointing this out to me.]
• Martin Ruef, The Entrepreneurial Group: Social Identities, Relations, and Collective Action
• Gilles Saint-Paul, Innovation and Inequality: How Does Technical Progress Affect Workers?
• Paul Samuelson, Foundations of Economic Analysis
• Jonathan Schlefer, The Assumptions Economists Make
• Barry Schwartz, The Paradox of Choice
• Paul Seabright, The Company of Strangers: A Natural History of Economic Life
• Martin Shubik and Eric Smith, The Guidance of an Enterprise Economy
• Robert Solow, An Almost Practical Step Towards Sustainability
• Adam Smith
  • Inquiry into the Nature and Causes of the Wealth of Nations
  • Theory of the Moral Sentiments
• John Stachurski and Thomas J. Sargent, Economic Networks: Theory and Computation
• Joe Stiglitz
  • Promoting Competition and Regulatory Policy: With Examples from Network Industries
  • Towards a New Paradigm for Development: Strategies, Policies, and Processes
• Susan Strange, Casino Capitalism
• Lance Taylor, Maynard's Revenge: The Collapse of Free Market Macroeconomics
• Leigh Tesfatsion and Kenneth L. Judd (eds.), Agent-Based Computational Economics, vol. 2 of the Handbook of Computational Economics
• Richard Thaler, Quasi-Rational Economics
• Jean Tirole, "Market Failures and Public Policy", American Economic Review 105 (2015): 1665--1682
• Adair Turner, Economics After the Crisis: Objectives and Means
• Bart van Ark, Mary O'Mahony and Marcel P. Timmer, "The Productivity Gap between Europe and the United States: Trends and Causes", Journal of Economic Perspectives 22 (2008): 25--44 [Reprint; comments by Krugman]
• Hal Varian, Microeconomic Analysis
• Laura Veldkamp, Information Choice in Macroeconomics and Finance
• Geerat J. Vermeij, Nature: An Economic History [Review in American Scientist]
• Steven Vogel, Freer Markets, More Rules: Regulatory Reform in Advanced Economies
• Kathleen D. Vohs, Nicole L. Mead, and Miranda R. Goode, "The Psychological Consequences of Money", Science 314 (2006): 1154--1156 [After reading, I should look for replications]
• Vadim Volkov, Violent Entrepreneurs: The Use of Force in the Making of Russian Capitalism
• Joel Waldfogel, The Tyranny of the Market: Why You Can't Always Get What You Want
• Martin L. Weitzman, "Prices vs. Quantities", Review of Economic Studies (1974): 477--491 [PDF via Brad DeLong]
• Geoffrey Williams, "A Simple Threshold Model of Theft" [PDF preprint]
• Kenneth I. Wolpin, The Limits of Inference without Theory
• Andrew Wood and Susan Roberts, Economic Geography: Places, Networks and Flows
• Paul J. Zak (ed.), Moral Markets: The Critical Role of Values in the Economy