The General Theory of Employment, Interest, and Money

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. 

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.

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.

Following Marx’s death in 1883, Engels was able to step into the breach and, drawing on Marx’s extensive notes and writings, complete volume 2 of Capital, leading to its publication in 1885. Here, Marx turns his attention to the money owner, the money lender, the wholesale merchant, the trader and the entrepreneur or 'functioning capitalist.'  

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’. 

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.

Ever since we produced our course Thinking About Capitalism, customers have expressed interest in a follow-up course that could help them understand socialism in the same way. After much consideration, we determined that it actually would be more beneficial to create a course that compares and contrasts the two major global economic theories, examining them in ways that move past the polemics many of us are used to and looking at these systems as they relate to one another and the world at large.

Called by H.L. Mencken, "one of the few economists in history who could really write," Henry Hazlitt achieved lasting fame for his brilliant but concise work. In it, he explains basic truths about economics and the economic fallacies responsible for unemployment, inflation, high taxes, and recession.

After the overwhelming horrors of the first half of the 20th century, described by Ian Kershaw in his previous book as having gone 'to hell and back', the years from 1950 to 2017 brought peace and relative prosperity to most of Europe. Enormous economic improvements transformed the continent. The catastrophic era of the world wars receded into an ever more distant past, though its long shadow continued to shape mentalities. Europe was now a divided continent, living under the nuclear threat in a period intermittently fraught with anxiety. 

Half of all Americans have money in the stock market, yet economists can't agree on whether investors and markets are rational and efficient, as modern financial theory assumes, or irrational and inefficient, as behavioral economists believe - and as financial bubbles, crashes, and crises suggest. This is one of the biggest debates in economics, and the value or futility of investment management and financial regulation hang on the outcome. In this groundbreaking book, Andrew W. Lo cuts through this debate with a new framework.

John Stuart Mill (1808-1873) was a torchbearer for liberal thought in the 19th century, including liberty of the individual and freedom of speech, and he championed women's suffrage in Parliament. A remarkable man - he learned Greek aged three and at eight had read Herodotus, Xenophon and Plato - he campaigned all his life for a just society. These two essays are his key works.

One of our greatest philosophers and scientists of the mind asks where the self comes from - and how our selves can exist in the minds of others. I Am a Strange Loop argues that the key to understanding selves and consciousness is the "strange loop" - a special kind of abstract feedback loop inhabiting our brains. The most central and complex symbol in your brain is the one called "I". The "I" is the nexus in our brain, one of many symbols seeming to have free will and to have gained the paradoxical ability to push particles around, rather than the reverse.

John Locke and his works - particularly An Essay Concerning Human Understanding - are regularly and rightly presented as foundations for the Age of Enlightenment. His primary epistemological message - that the mind at birth is a blank sheet waiting to be filled by the experiences of the senses - complemented his primary political message: that human beings are free and equal and have the right to envision, create and direct the governments that rule them and the societies within which they live.

Aristotle’s Organon comprises six key essays on logic, initially collected by Theophrastus, his successor as head of the Peripatetic school, and given its final form by Andronicus some three centuries later. The six essays are: Categories, On Interpretation, Prior Analytics, Posterior Analytics, Topics and On Sophistical Refutations. One of the principal topics of Aristotle’s focus is syllogism, in which two premises (one major, one minor) lead to a conclusion. This features in Prior Analytics and On Interpretation.  

In this fifth edition of Basic Economics, Thomas Sowell revises and updates his popular book on commonsense economics, bringing the world into clearer focus through a basic understanding of the fundamental economic principles and how they explain our lives. Drawing on lively examples from around the world and from centuries of history, Sowell explains basic economic principles for the general public in plain English.