Economics, a quick reading list

Categories: Open Mic

This reading list will help you get up to speed on what is driving the ongoing economic crisis

  1. Trade Theory, Financialized Article by Michael Hudson (link)
  2. 7 Deadly Innocent Frauds of  Economics by Warren Mosler (link)
  3. Modern Money Primer (first 6 chapters, link)
  4. When Fragile becomes Friable: Endemic Control Fraud as a Cause of Economic Stagnation and Collapse by Bill Black (link)
  5. Fooled by Randomness by Nassim Taleb
Almost everything above is available on the internet, and Taleb’s book is common enough that you should be able to find it in a used bookstore.  Hudson’s article explains how it came to be that Americans have less and less income every year, while the necessities of life become more and more expensive.  Mosler’s book explains why the monetary system isn’t what you think it is, why Social Security isn’t running out, and why the US government can’t go bankrupt.  The article by Black explains how CEOs steal from their companies and cause economic crises– it also explains how bank CEOs drove the mortgage crisis.
Finally, Taleb’s  book discusses the limit of economic models, and why success in the stock market is a better indicator of luck than skill.

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