What resources do you recommend to have a better understanding of economics? \ stacker news ~AskSN

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What resources do you recommend to have a better understanding of economics?

1540 sats \ 29 comments \ @Aardvark 10h AskSN

It's been approximately a year since I first listened to "Broken Money" so I decided to fire it up on audible again because why not?

Unsurprisingly, I have a way better understanding of the book in general. I'm still early on in my relisten, but I'm finding that way more often 2+2=4 when originally I had very little grasp of the core concepts.

Still, as far as economics go, I still feel like I'm in the dark about so much. It can be frustrating at times to just have to take someone's word for it.

I'm especially interested in what @denlillaapan has to recommend, considering your more classic education, coupled with your own research into Austrian economics.

I'm open to any books, podcasts, or other resources people have to offer.

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142 sats \ 2 replies \ @kepford 2h

There are some great recommendations here but Economics in One Lesson is my go to. It helped me get started.

21 sats \ 0 replies \ @j7hB75 1h

I second this.

3 sats \ 0 replies \ @Aardvark OP 2h

I'll put it on the list.

42 sats \ 0 replies \ @moptosh 3h

42 sats \ 9 replies \ @Undisciplined 10h

Bookwise, just dive into Human Action. It’s the best and it’s not as impenetrable as it seems.

Podcastwise, I think Bob Murphy is the best for specifically Austrian analysis. For more mainstream coverage, check out Econtalk.

84 sats \ 7 replies \ @denlillaapan 7h

Bookwise, just dive into Human Action. It’s the best and it’s not as impenetrable as it seems. this iz liez.

42 sats \ 6 replies \ @Aardvark OP 7h

It is impenetrable, or it's not the best, or both?

84 sats \ 1 reply \ @denlillaapan 6h

Its hard as fuck... Maybe undisc is just a genius

28 sats \ 0 replies \ @Aardvark OP 6h

I often feel smarter when I'm hard as fuck, but it's usually fleeting.

42 sats \ 3 replies \ @Undisciplined 7h

I don’t know what his problem is. I read it on an iPhone so I imagine any smart interested reader could manage with a real book or e-reader.

42 sats \ 2 replies \ @Aardvark OP 7h

Ahhh, I see the problem now... You wrongfully concluded that I have a brain, whereas my boy denlilly knows better.

42 sats \ 1 reply \ @Undisciplined 6h

Den’s recommendation of Choice is a dumbed down version of Human Action, so it might be the right speed then.

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42 sats \ 0 replies \ @Aardvark OP 10h

Thanks much!

119 sats \ 5 replies \ @grayruby 10h

Sounds like @Undisciplined should have a pinned post in the econ territory with precisely this sort of thing. Not everyone is a "doctor of economics".

182 sats \ 4 replies \ @Undisciplined 10h

Great idea!

I’ll get on that later today.

84 sats \ 2 replies \ @grayruby 10h

See, just like fat shaming, trolling works. Haha

42 sats \ 1 reply \ @Aardvark OP 10h

And yet @realBitcoinDog is still a fatty.

82 sats \ 0 replies \ @Undisciplined 10h

Uptail woof woofs have no shame

82 sats \ 0 replies \ @Aardvark OP 10h

I'll keep my eyes peeled.

126 sats \ 0 replies \ @Coinsreporter 9h

I heavily rely on people than books to understand economics of any sort. I believe @denlillaapan, @SimpleStacker and @Undisciplined doing a pretty good job making ~econ as a resource in itself.

75 sats \ 0 replies \ @BeeRye 8h

Much of the work by Frederic Bastiat, such as Sophisms of the Protectionist. If you search Frederic Bastiat on podcast apps there is a ton of his work on there by an organization called Librevox, here is antennapod link for example

https://antennapod.org/deeplink/subscribe/?url=%68%74%74p%3A%2F%2Fwww.loyalbooks.com%2Fbook%2FPolitical-Economy-Frederic-Bastiat%2Ffeed&title=Essays+on+Political+Economy+by+Frederic+Bastiat

142 sats \ 1 reply \ @denlillaapan 10h

Choice, Bob Murphy -- a simple decoding of Mises/Austrian Economics

Who Gets What — and Why: The New Economics of Matchmaking and Market Design, by Alvin Roth (Nobel Laureate, regular economist dude)

How Economics Can Save the World: Simple Ideas to Solve Our Biggest Problems, by Erik Angner, standard behavioral economics dude, nothing special but very nice way to think about economics. https://authory.com/JoakimBook/Erik-Angners-Defense-of-Our-Dismal-Discipline-ab7f9d1f23dbc44e4af036aaba7917a54

Guido Hülsmann, Abundance, Generosity, and the State: An Inquiry Into Economic Principles -- in the weeds hardcore AE for sure, but a beautiful way to think about economics = my review: https://authory.com/JoakimBook/The-Virtues-of-Social-Market-Order-Review-of-Abundance-Generosity-and-the-State-a8fc70afb687e45d99286b7f068864160

0 sats \ 0 replies \ @Aardvark OP 10h

Thanks bud, I'll get them on the list!

42 sats \ 2 replies \ @Signal312 10h

This one is great. An oldie but goodie. Very easy to understand and read.

Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics

0 sats \ 1 reply \ @Aardvark OP 10h

Nice seems like a good starter book.

42 sats \ 0 replies \ @SimpleStacker 9h

Yes this is what I would recommend as well. It's very clear and engaging and a nice introduction to the economic way of thought. Dispels a lot of common misconceptions that people have about economics

42 sats \ 0 replies \ @anon 9h

Id consider Peter Schiffs How an Economy Grows and Why it Crashes.

Much more rudimentary than others mentioned here but explains Austrian concepts in a very straightforward way. It was written before he knew what Bitcoin even was, so don't worry about it talking about that.

0 sats \ 0 replies \ @justin_shocknet 9h

There's historical stuff that will help you understand what others are saying and conventions, but economics is an intuitive thing in each specific circumstance and not a proper science. It's the confluence of an incalculable number of variables.

Every "economist" is grifting and making shit up as they go. Some of the dumbest things you'll ever read come from FT/The Economist/BI/WSJ/Mises Institute, ~Econ sub, and so on.

Don't try to understand economics, try to understand history.

John Law and Hayek provide a good foundational mix of both.