If you are at all curious about Economics, when it works and when it fails us, and how it needs to be practiced, then the next book on your reading list should definitely be Economics Rules, by prize-winning economist Dani Rodrik. From Adam Smith’s “invisible hand” to modern day economic theories, Rodrik gives us a guide to better understand the power and limitations of a social science that affects every aspect of our lives. He evangelizes for the practical utility of economics: his main premise is that there are abundant, simple economic models that could be applied to different public problems, from combating disruptions in the global economy, to financing public transport, to fighting poverty. On the other hand, he is well aware that economics often fails us, and through analysis and examples shows us why economists sometimes don’t get it right. And no, this book is not intended only for those with the background in economics; it is written in a way that is approachable, funny and interesting. You can enjoy it and learn from it even if you’ve never heard about Adam Smith, Milton Friedman, or John Maynard Keynes before.
Economics Rules: The Rights and Wrongs of the Dismal Science - Dani Rodrik
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Published: W. W. Norton & Company - October 11th, 2016