Best Economic Theory Books of 2025

Un-Civilizing America by William Bonner is a thought-provoking read that delves into the American economy and the power struggles that exist behind the scenes. The author discusses the importance of win-win deals and how market-set prices are more effective than politically controlled ones. He also sheds light on the shadow groups that influence America and the government's phony wars. This book is a must-read for anyone interested in American or global economics and finance. It offers a unique perspective on the evolution of morals and civilization and the status of the American experiment.

Capitalism and Freedom by Milton Friedman is a classic book providing a definitive statement on economic philosophy. It explains how capitalism can serve as a device for achieving economic freedom and a necessary condition for political freedom, while avoiding the threat it poses to individual freedom. This book has sold nearly a million copies and continues to inform economic thinking and policymaking around the world. The new edition includes prefaces written by Friedman and a foreword by Binyamin Appelbaum. It is a must-read for anyone interested in economic history and the principles of economic freedom.

The international bestseller "Naked Economics: Undressing the Dismal Science" by Charles Wheelan is a must-read for anyone who wants to understand basic economics with little pain and much pleasure. This revised and updated edition includes commentary on hot topics such as automation, trade, income inequality, and America's rising debt, making it more relevant than ever. Wheelan demystifies buzzwords, lays bare the truths behind oft-quoted numbers, and answers the questions you were always too embarrassed to ask. In short, this book is fascinating, comprehensible, and laugh-out-loud funny. Highly recommended for students and general readers alike.

The Fiscal Theory of the Price Level is a comprehensive account of how government deficits and debt drive inflation. Cochrane merges fiscal theory with standard models in which central banks set interest rates, giving a novel account of monetary policy. The book offers important new insights about fiscal and monetary policy and is a must-read for serious researchers in the field. Cochrane's extensive rethinking of monetary doctrines and institutions through the eyes of fiscal theory, and analysis of the era of zero interest rates and post-pandemic inflation, makes this book unique. Overall, an excellent addition to any macroeconomics books collection.

Invisible Wealth: 5 Principles for Redefining Personal Wealth in the New Paradigm by Jennifer Wines is a thought-provoking book that explores a new paradigm of value creation, driven by personal values. Wines delivers an insightful exploration into reimagining and redefining wealth, placing a premium on intangible, or invisible, assets represented by 5 principles―money, health, knowledge, time, and relationships―each of which is attainable through personal, renewable resources. This book offers pragmatic and philosophical considerations for redefining what’s truly important to you. Overall, Invisible Wealth is a must-read for anyone seeking to redefine their concept of wealth and lead a rich life.

The Constitution of Liberty: The Definitive Edition (Volume 17) (The Collected Works of F. A. Hayek) is a classic statement on the ideals of freedom and liberty. F. A. Hayek defends the principles of a free society, casting a skeptical eye on the growth of the welfare state and examining the challenges to freedom posed by an ever expanding government. This book is a nuanced argument for prudence and Hayek elegantly demonstrates that a free market system in a democratic polity represents the best chance for the continuing existence of liberty. This definitive edition of The Constitution of Liberty is a must-read for anyone interested in economic history and political theory.

The "Fundamental Payroll Certification Study Guide" is an essential resource for anyone preparing for the FPC exam in 2023 and 2024. This comprehensive guide includes a study guide, practice test questions, answers, and exam review. It covers all the key topics in payroll, including payroll concepts, calculations, deductions, and payroll reporting. The book is an excellent resource for individuals seeking to enhance their knowledge of payroll and gain certification. Overall, this book is a must-have for anyone seeking to pass the FPC exam and advance their career in payroll.

Thinking Strategically: The Competitive Edge in Business, Politics, and Everyday Life is a must-read for anyone who wants to outmaneuver their competition. The authors, Dixit and Nalebuff, use case studies from various fields to outline the basics of good strategy making and show how they can be applied in any area of life. The book is highly recommended by top business schools and has received critical acclaim for its practical usefulness and enjoyable writing style. Overall, this book is a gem that provides insights on the frontiers of economics and game theory in an accessible and entertaining way.

Efficiently Inefficient by Lasse Heje Pedersen is a comprehensive guide to the key trading strategies used by hedge funds, featuring interviews with leading hedge fund managers such as George Soros and Jim Chanos. The book explores equity, macro, and arbitrage strategies, as well as fundamental tools for portfolio choice, risk management, equity valuation, and yield curve trading. Pedersen combines the latest research with real-world examples to show how certain tactics make money and why they sometimes don't. Encyclopedic in its cataloging of active management strategies and authoritative in its analysis, Efficiently Inefficient is a must-read for students, serious investors, and professionals alike.

This textbook presents a comprehensive introduction to microeconomic theory for intermediate and advanced undergraduates. It covers a wide range of topics, from individual choice to market failures, and provides thorough explanations of the definitions and assumptions that the theory is based upon. The book's strength lies in its precise presentation of the logical process that leads to conclusions, conveying the intuition and key arguments. It is also a valuable resource for readers interested in understanding how mainstream economists think. Overall, Microeconomic Theory for the Social Sciences is a valuable addition to any business operations research bookshelf.