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Economics for Dummies: Reader Asks 'Where Do I Start?'

Reader Brad writes: "Hi Mish. I am new to economics. I am not an investor. I have a high school education. I don't understand your blog. Where should I start? Thanks, Brad"

Hi Brad.

Thanks for trying to understand. By trying to learn, I suspect you already know way more than the average person. Here's some reading material that will help.


Recommended Reading List

  1. Economics for Real People by Gene Callahan
  2. Economics in One Lesson by Henry Hazlitt
  3. What Has Government Done With Our Money? by Murray N. Rothbard
  4. Case Against the Fed: Murray N. Rothbard
  5. Tomorrow's Gold Marc Faber
  6. Capitalism For Kids: Growing Up To Be Your Own Boss by Carl Hess

The first four above are free downloads. Tomorrow's Gold is an investment book by Marc Faber, one of the best ever.


Whatever Happened to Penny Candy?

I have read all of the above. Here's one that I have not read but appears to be worth a read as well: Whatever Happened to Penny Candy? by Richard Maybury.

Whatever Happened to Penny Candy?

Penny Candy came up in a search I did while posting the above books. I like the title, but more importantly I like this part of the description: "All explanations and interpretations are according to the Austrian and Monetarist schools of economic theory."

The key word is "Austrian".

Always let your economic thoughts be guided by Austrian theory and your actions by Libertarian principles.

Addendum:

Thanks to reader Brad for writing ... Hi Mish. Allow me to recommend 'Economics for Real People' by Gene Callahan, a free download at the Mises Institute: I think this may be better at explaining economic concepts than Hazlitt's 'Economics in One Lesson.'

I have read that book, and I meant for it to be in my list. It's now added above.

 

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