The foundation for all modern economic thought and political economy, The Wealth of Nations is the magnum opus of Scottish economist Adam Smith, who introduces the world to the very idea of economics and capitalism in the modern sense of the words.

How can we benefit from the promise of government while avoiding the threat it poses to individual freedom? In this classic book, Milton Friedman provides the definitive statement of his immensely influential economic philosophy - one in which competitive capitalism serves as both a device for achieving economic freedom and a necessary condition for political freedom.

The Economic Consequences of the Peace (1919) was one of the most important documents to come out of World War I – specifically the period of the Armistice and the subsequent settlement negotiations. And, a century on, it remains of particular relevance to our times – an uncompromising and forthright analysis of how international diplomacy can be suffused by personalities, prejudices, personal ambition and outright, uncontrolled feelings of revenge. 

It can be said of very few books that the world was changed as a result of its publication - but this is certainly the case of Capital: A Critique of Political Economy by Karl Marx (1818-1883). Volume 1 appeared (in German) in 1867, and the two subsequent volumes appeared at later dates after the author's death - completed from extensive notes left by Marx himself.

Hayek gives the main arguments for the free-market case and presents his manifesto on the "errors of socialism." Hayek argues that socialism has, from its origins, been mistaken on factual, and even on logical, grounds and that its repeated failures in the many different practical applications of socialist ideas that this century has witnessed were the direct outcome of these errors. He labels as the "fatal conceit" the idea that "man is able to shape the world around him according to his wishes."

Published in 1894, 11 years after the death of Marx himself, Capital Volume 3 was the product of the untiring and meticulous work of Friedrich Engels working from Marx’s outline and notes and carried the subtitle The Process of Capitalist Production as a Whole. In seven parts, Marx and Engels were determined to demonstrate that private property, competition and the market economy driven by the profit motive must lead to the demise of capitalism. 

Any ambitious proposal - ranging from fixing crumbling infrastructure to Medicare for all or preventing the coming climate apocalypse - inevitably sparks questions: how can we afford it? How can we pay for it? Stephanie Kelton points out how misguided those questions really are by using the bold ideas of modern monetary theory (MMT), a fundamentally different approach to using our resources to maximise our potential as a society. 

First published in 1934, Security Analysis is one of the most influential financial books ever written. Selling more than one million copies through five editions, it has provided generations of investors with the timeless value investing philosophy and techniques of Benjamin Graham and David L. Dodd. As relevant today as when they first appeared nearly 75 years ago, the teachings of Benjamin Graham, “the father of value investing”, have withstood the test of time across a wide diversity of market conditions, countries, and asset classes.

The Theory of Moral Sentiments (1759) was the first major text by Adam Smith who, seven years later, was to publish what was to become one of the major economic classics, The Wealth of Nations (1776). However, Smith regarded The Theory of Moral Sentiments as his most important work because in it he identified the profound human instinct to act not necessarily in self-interest but through, as he phrased it, a ‘mutual sympathy of sentiments’. 

What are the grand dynamics that drive the accumulation and distribution of capital? Questions about the long-term evolution of inequality, the concentration of wealth, and the prospects for economic growth lie at the heart of political economy. But satisfactory answers have been hard to find for lack of adequate data and clear guiding theories. In Capital in the Twenty-First Century, Thomas Piketty analyzes a unique collection of data from 20 countries, ranging as far back as the 18th century, to uncover key economic and social patterns.

Thomas Piketty’s best-selling Capital in the Twenty-First Century galvanized global debate about inequality. In this audacious follow-up, Piketty challenges us to revolutionize how we think about politics, ideology, and history. He exposes the ideas that have sustained inequality for the past millennium, reveals why the shallow politics of right and left are failing us today, and outlines the structure of a fairer economic system.

Brilliant and engagingly written, Why Nations Fail answers the question that has stumped the experts for centuries: Why are some nations rich and others poor, divided by wealth and poverty, health and sickness, food and famine?

There is no better guide than Paul Krugman to basic economics, the ideas that animate much of our public policy. Likewise, there is no stronger foe of zombie economics, the misunderstandings that just won’t die. In Arguing with Zombies, Krugman tackles many of these misunderstandings, taking stock of where the United States has come from and where it’s headed in a series of concise, digestible chapters. Drawn mainly from his popular New York Times column, they cover a wide range of issues, organized thematically and framed in the context of a wider debate.

A work of striking originality, The Human Condition is in many respects more relevant now than when it first appeared in 1958. In her study of the state of modern humanity, Hannah Arendt considers humankind from the perspective of the actions of which it is capable. The problems Arendt identified then - diminishing human agency and political freedom, the paradox that as human powers increase through technological and humanistic inquiry, we are less equipped to control the consequences of our actions - continue to confront us today.  

An immediate sensation when it was first published in two volumes in 1945, Popper's monumental achievement has attained legendary status on both the Left and Right and is credited with inspiring anticommunist dissidents during the Cold War. Arguing that the spirit of free, critical inquiry that governs scientific investigation should also apply to politics, Popper traces the roots of an opposite, authoritarian tendency to a tradition represented by Plato, Marx, and Hegel.