Continuing this blog’s annual tradition (2009, 2010, 2011, 2012, 2013), here are capsule reviews of all the books I read this year. Only books read all the way through are included. Unless stated otherwise, I enjoyed them all and recommend them.
- Burton A. Abrams – The Terrible 10: A Century of Economic Folly
Would make a good primer for an undergraduate or recent graduate on the intersection of politics and economics. The chapter on environmental policy is weak, representing a missed opportunity, but the rest of the book is quite good.
- Jason Brennan – Why Not Capitalism?
A rebuttal to G.A. Cohen’s Why Not Socialism?, which appears below. Using an amusing parable involving the Mickey Mouse Clubhouse, Brennan shows that Cohen compares idealized socialism to real-world capitalism, which is a basic analytical mistake. He then makes a true apples-to-apples comparison.
- Howard Bryant – The Last Hero: A life of Henry Aaron
Great men are almost never good men. Henry Aaron is an exception to the rule. He may have been but a baseball player, but the role he played in improving the nation’s racial climate, and what he endured in doing so, as well as who he is as a person, make the word “hero” more than worthy of its inclusion in this book’s title.
- Bruce Caldwell – Hayek’s The Road to Serfdom: A Brief Introduction
This short e-book, priced under $3.00, repackages Caldwell’s introduction to the recently-issued definitive edition of Hayek’s most famous book. Useful for those who own an older edition and don’t want to pony up for the new one, or who do not want to read the whole book. Caldwell not only explains what Hayek thought; he also makes clear what Hayek did not think, which is a valuable service. Hayek’s opponents routinely ascribe to him ideas he never held, which harms both sides of the debate between emergent order and constructivism.
- Charles Calomiris and Stephen A. Haber – Fragile by Design: The Political Origins of Banking Crises and Scarce Credit
This is a lengthy book (just more than 500 pages), but incredibly edifying. Politics and banking are so tightly intertwined that one cannot exist without the other. Why are countries like the UK and especially the U.S. so crisis-prone, while Canada’s last banking crisis was in 1839? Because they each have different rules of the political game that shape coalitions and incentives differently. The authors also study banking history in autocratic countries such as Mexico and Brazil.
- G.A. Cohen – Why Not Socialism?
This campus favorite uses a parable about a camping trip to illustrate socialism’s superiority over capitalism. As Jason Brennan’s critique above notes, Cohen compares socialism in its best possible theoretical light to capitalism in its worst possible real-world light, which causes serious errors in Cohen’s reasoning and conclusions.
- W. Michael Cox and Richard Alm – Myths of Rich and Poor: We’re Better Off Than We Think
An important book I had never read until this year. Takes a data-heavy Julian Simon-esque look at economic progress, and finds that by almost any measure of human well-being, people are getting better off over time, especially the poor. The prose reads well, and surprisingly quickly (it helps that Alm is a journalist, serving as the Dubner to Cox’s Levitt). Now that it’s 15 years old, hopefully the authors will consider an updated edition.
- Diane Coyle – GDP: A Brief but Affectionate History
An entertaining look at a useful statistic that seems to be unaware of its own limitations. Coyle discusses the uses and abuses of GDP, and touches on some very deep insights, though she could have gone farther with them. She suggests that GDP should not be dumped, but needs to be supplemented with other measures, not all of which are purely quantitative.
- William Doyle – The French Revolution: A Very Short Introduction
Less a narrative history than an explanation of the Revolution’s historical context and influence, and how its scholarly interpretations have changed over the years.
- William Easterly – The Tyranny of Experts: Economists, Dictators, and the Forgotten Rights of the Poor
A powerful and much-needed criticism of the development establishment. The prevailing top-down approach to developing the third world ignores history and individual circumstances. And it abets shocking human rights violations by governments who have successfully curried favor with the World Bank, UN, and other aid establishmentarians. Easterly also documents the West’s disappointing condescension towards the Rest.
- D.X. Ferris – Slayer 66 2/3: The Jeff and Dave Years
A meticulously documented history of one of the most influential bands in the last thirty years.
- Joshua Hall, ed. – Homer Economicus
A collection of short essays using examples from The Simpsons to teach economics. It starts with the basics and then moves on to more advanced topics, including public choice theory and behavioral economics. This would be a perfect teaching tool for a high school or beginning undergraduate economics course.
- Thomas E. Hall – Aftershock: The Unintended Consequences of Public Policies
Intentions are not results. This book is a brief look at four policies with actual effects almost completely different from their intended effects: income taxes, tobacco taxes, the minimum wage, and alcohol prohibition. A lesson in humility for policymakers.
- F.A. Hayek – The Denationalisation of Money
Hayek’s vision of competing currencies. If people around the world were free to choose among euros, yen, pesos, and dollars as they please, governments everywhere would have more incentive to limit inflation. And if governments additionally allowed privately developed currencies to compete with government currencies, the competitive discipline would become even more intense. Forty years after Hayek wrote this book, Bitcoin and other currency technologies are making him look very prescient. The link goes to a free PDF version from the Institute for Economic Affairs.
- David Harsanyi – The People Have Spoken (And They Are Wrong): The Case against Democracy
Rather more subtle than the shrill title would indicate. Harsanyi is skeptical of populist demagoguery from the right and the left, and reminds the reader to be thankful for checks on pure democracy. Bicameral legislatures, the Electoral College, voting age requirements, and more are all good things. In some ways this is a popularization of Bryan Caplan’s Myth of the Rational Voter, though there are certainly areas where Harsanyi and Caplan do not see eye to eye.
- Robert Heinlein – Double Star
When Heinlein is at his best, both he and his characters are genuinely having fun. This book captures that sense of joy. It’s about a struggling actor who is enlisted to act as a body double for an important, but ailing politician. It quickly escalates from there, and makes an important point about the similarities between actors and politicians.
- Alistair Horne – The Seven Ages of Paris
A history of a beautiful city from its earliest days up to the mid-twentieth century. It greatly enhanced my visit earlier this year. It reads well and teaches much, though it is rather longer than it needs to be.
- Philip K. Howard – The Rule of Nobody: Saving America from Dead Laws and Broken Government
Howard does not impress with the depth of his thought. But his overall approach to law and regulation is right in line with my own: simplicity is beautiful. Today’s complicated legal and regulatory thickets are almost purely ugly. Allowing some discretion on the part of teachers, judges, and bureaucrats is a good thing. They can and will make mistakes, but the overall results will be far more humane than today’s regime of zero-tolerance policies, mandatory minimum sentences, and multi-thousand-page legislation.
- Cecil Jenkins – A Brief History of France
A useful survey of French history I read in preparation for a Paris vacation. The narrative is very good, but late in the book the author spends too much time describing the then-current (read: ephemeral) political situation and defending France’s dirigiste economic system.
- Zachary Karabell – The Leading Indicators: A Short History of the Numbers That Rule Our World
Highly recommended, despite the occasional slip in Karabell’s economic reasoning. Going all the way back to the Domesday Book, William the Conqueror’s post-1066 census of his new kingdom, Karabell also covers the fascinatingly politicized birth of modern GDP, inflation, and trade statistics, and looks forward to a future of customizable “bespoke indicators” that Google and other new technologies make possible.
- Ronald Kessler – The First Family Detail: Secret Service Agents Reveal the Hidden Lives of the Presidents
Kessler is a guilty pleasure. His books do have substance; this one is full of criticisms of the Secret Service’s management practices, and offers reform ideas. But really, I read Kessler because he’s the National Enquirer for the federal government’s upper echelons. There is juicy stuff in this book about very powerful people.
- Tim Layden – Blood, Sweat, and Chalk: The Ultimate Football Playbook: How the Great Coaches Built Today’s Game
If you want to learn about offensive strategy in football, this is a good place to go. It starts around 1910, when Pop Warner came up with the single wing offense, and moves on through through the Wing-T, I-Formation, and today’s spread-based passing attacks. Later on, there is good discussion of defensive schemes, from the cover two to the zone blitz. It also provides an entree into the fraternity of football coaches. The book is too technical at times for a football layman like myself, but was still very enjoyable.
- Michael Malice – Dear Reader: The Unauthorized Autobiography of Kim Jong Il
This darkly funny book (opening line: “I remember the day that I was born perfectly.”) has the serious humanitarian purpose of exposing the north Korean government’s atrocities to a wide audience. It is also a historiographical innovation, being the world’s first unauthorized autobiography. Malice traveled to north Korea and came back with a suitcase full of English-language propaganda. The book is written in the first person in Kim’s voice, drawing from that propaganda.
- Deirdre McCloskey – The Vices of Economists, The Virtues of the Bourgeoisie
The three vices of modern economists are a laser-like focus on statistical significance (as opposed to real-world significance), too much blackboard economics, and a fondness for social engineering. The first two of these can often be good and useful things in moderation, but science- and math-envy have turned these useful tools into vices. Social engineering, with its hubristic roots, is simply vice, at least in my view. Most of the book is about economic methodology, but it is filled throughout with other nuggets of wisdom, some of which prefigure Deirdre’s brilliant Bourgeois trilogy, the third volume of which should come out in 2015.
- Nina Munk – The Idealist: Jeffrey Sachs and the Quest to End Poverty
Sachs, a leading proponent of top-down economic development, does not come off well. On one hand, his capital-C Certainty has been his source of incredible fundraising success and celebrity glamor: $50 million grants, heads of state, Bono, and Angelina Jolie all make appearances. On the other hand, such Certainty is also at the root of the Sachs model’s reluctance to adapt and learn from its mistakes. Remember, the goal is for the developing world to actually develop, not to vindicate this or that method or ideology. Pairs well with Bill Easterly’s latest book, listed above.
- Bruce Nash and Allan Zullo – Baseball Confidential
In 1987, the authors sent a detailed survey to hundreds of major league players about the insidery parts of the game. What do pitchers and hitters do to try to psyche each other out? How do players deal with hostile umpires and vice versa? What goes on in locker rooms and bullpens? This book shares the results, along with humorous stories about every aspect of the game, on and off the field.
- Alex Nowrasteh and Mark Krikorian – Open Immigration: Yea and Nay
A neat little two-in-one book. Nowrasteh, a former colleague, takes the Yea position, while Krikorian takes the Nay side. Nowrasteh has the better arguments. But Krikorian’s half is a good look into the mind of someone who believes that one man’s well-being can be worth more than another man’s well-being simply because they come from different countries.
- Tom G. Palmer, ed. – Peace, Love, and Liberty
A collection of essays on the horrors of war and the beauties of peace and cooperation. Joining Palmer are Steven Pinker, Radley Balko, Emmanuel Martin, Sarah Skwire, and others. It also includes Mark Twain’s moving short story “The War Prayer” and poetry by Wilfred Owen, who died in battle just one week before the World War I armistice was signed.
- James Piereson – The Inequality Hoax
This short book is shrill in tone, which seems to be a common theme in the Encounter Broadsides series, of which it is a part. While this unfortunate choice of tone means Piereson is unlikely to convince anyone who doesn’t already agree with him, he still offers some valuable insights on inequality and Thomas Piketty’s Capital.
- Thomas Piketty – Capital in the 21st Century
The rare economics bestseller. Piketty argues that growing inequality is a structural feature of capitalism, and proposes an annual wealth tax to prevent large fortunes from accumulating. For a book ostensibly about helping the poor, he never asks some obvious questions: how are poor people actually doing? What policies would improve their living standards over time? Piketty is so focused on income ratios and statistics that he forgets about helping the poor. I have more to say about this common analytical mistake in a forthcoming paper.
- Steven Pinker – The Blank Slate
In the ongoing nature-nurture debate, many academics deny the very existence of human nature; environment is everything. This is mainly for politico-ideological reasons, as well as simple campus fashion. Pinker, through science, logic, history, art, and more, shows that there is nuance in the debate. Environment matters, yes. But human nature does, too.
- Mary Roach – Packing for Mars: The Curious Science of Life in the Void
Roach has a sharp and surprising naughty sense of humor, which made this book much livelier than I expected. This is mostly to to the good, though some parts are rather gross; sensitive readers be warned.
- James Romm – Dying Every Day: Seneca at the Court of Nero
Ostensibly a biography of the Stoic philosopher Seneca, but also much more. Romm makes the reader genuinely fear Nero, who also gets thorough biographical treatment. He also pauses often to ponder the troubled relationship between philosophy and power, and the morality of dissent and compliance. An excellent read.
- Russell Roberts – How Adam Smith Can Change Your Life: An Unexpected Guide to Human Nature and Happiness
In a way, it’s a popular-level treatment of Adam Smith’s “other book,” the Theory of Moral Sentiments, and Russ once again shows why he is one of economics’ best popularizers. It reads easily and quickly, and any layman can read this book without difficulty. But it’s more than that. History remembers Smith as a cold, calculating, selfish man. When I actually sat down and read Smith’s books a few years ago, I was shocked to discover a warm, friendly person with an uncanny insight into human nature, and who cared deeply about others. This book is about the real Adam Smith. Along the way Russ offers some excellent Smithian life advice, all along Smith’s eternal theme: be kind to others.
- Carl Sagan – Contact
Sagan’s novel about the discovery of extraterrestrial life, which inspired the movie of the same name in the 1990s.
- Carl Sagan – Cosmos
Science popularization at its best. Highly recommended, regardless of your native discipline, for the delivery as much as the content. The companion volume to Sagan’s PBS series of the same name, which was successfully revived this year by Sagan’s wife Ann Druyan and host Neil DeGrasse Tyson. Some of the science is dated now, but the sense of wonder he conveys is timeless.
- Carl Sagan – Pale Blue Dot: A Vision of the Human Future in Space
Opens with a beautifully written account of the Voyager satellites’ journeys, then goes into the science and philosophy of spreading out to other worlds.
- Carl Sagan and Ann Druyan – Shadows of Forgotten Ancestors
Deductive reasoning taken to its extreme, in a good way. It starts on the biggest possible scale with the birth of the Cosmos itself. The focus then continually narrows until it reaches little old us. The book ends with the birth of our species, and why we differ from other animals in degree, but not in kind. As an economist, I especially enjoyed the middle third on how the natural selection process works. The parallels to spontaneously ordered social processes are legion. The final third on primates and anthropology is similarly excellent.
- Peter Schweizer – Extortion: How Politicians Extract Your Money, Buy Votes, and Line Their Own Pockets
When it comes to politics, almost nobody is cynical enough. Schweizer is here to help. He outlines the strategies many politicians use to make themselves rich in office, and gives real world examples. He also names names. Leadership from both parties come off as especially venal. As he points out, that venality may explain how the worst got on top in the first place.
- Peter Schuck – Why Government Fails So Often: And How It Can Do Better
A self-described “militant moderate,” Yale law professor Schuck’s book goes into the institutional and structural reasons why so many well-intentioned government efforts fail. The Affordable Care Act and Dodd-Frank come off especially poorly. He is well-versed in public choice theory, and as such his reform ideas are much better than typical political science pap. A note on style: Schuck writes clearly, but the amount of signposting he does borders on the ridiculous (p. 51: “Here are fourteen such principles…”). This made me chuckle out loud more than once while reading on the subway, drawing looks (and a few smiles) from fellow passengers.
- Lenore Skenazy – Free-Range Kids, How to Raise Safe, Self-Reliant Children (Without Going Nuts with Worry)
An excellent antidote to fear-based helicopter parenting, as well as the ultra-competitive attitude many parents have (I put more restrictions on my kids than you do on yours, and am therefore a better and more attentive parent than you are!). Many of you know my wife and I are expecting a daughter in the spring. This book isn’t for newborns, so it doesn’t apply to our family just yet, and it won’t for a few years. But its basic philosophy (and a re-read) should come in handy once she’s old enough for playdates, running around outside, biking to friends’ houses, and walking to school. All of us adults did such crazy things when we were kids, and we turned out just fine. Our own children deserve that same basic respect.
- Adam C. Smith and Bruce Yandle – Bootleggers and Baptists: How Economic Forces and Moral Persuasion Interact to Shape Regulatory Politics
Thirty-plus years after the original Regulation magazine article, we finally have a book-length treatment of Yandle’s Baptists and Bootleggers model. Moralizing Baptists and conniving Bootleggers both favor shuttering liquor stores on Sundays, but for very different reasons. These strange bedfellows are everywhere in politics and regulation. Yandle’s co-author, Smith, is both his grandson and an old friend of mine from grad school, as well as a fine economist. A question I pose to them both: is it possible to use Bootlegger-Baptist coalitions for good, and not just evil?
- Francis Spufford – Red Plenty
A beautifully written kind-of-novel about both real and fictional characters gradually moving from idealism to disillusionment. Their journeys are microcosms of the Soviet Union’s own progression from early revolutionary spirit to cynicism and sclerosis. Highly recommended, and difficult to put down.
- Bram Stoker – Dracula
Bedtime reading during October. It was fun.
- Kathryn Tempest – Cicero: Politics and Persuasion in Ancient Rome
While Anthony Everitt’s superb Cicero biography emphasized the greater historical context of Rome’s transition from Republic to Empire, Tempest focuses inward. Cicero’s political career, oratory, and family life take center stage. She makes Cicero come alive as a real person with a distinct personality. He was more than a little arrogant, and had a tendency to vacillate during critical moments. But on balance he seems to have been a caring and decent person.
- Gordon Tullock – The Politics of Bureaucracy
Tullock applies the economic way of thinking–incentives, tradeoffs, scarcity, etc.–to the study of bureaucracy. His generalized model applies to government departments, committees, presidents, large corporations, local governments, national governments, and more.
- Gordon Tullock – Economic Hierarchies, Organization, and the Structure of Production
Mostly a refinement of The Politics of Bureaucracy, written with an additional 27 years of research and thought. But it also contains a devastating (and under-appreciated) argument against central economic planning every bit as powerful as Mises’ calculation problem, Hayek’s knowledge problem, or the public choice incentive problem. Suppose a head of state or a corporate CEO has three people reporting to him. Each of them has three people reporting to them, and so on. Even with such small supervisory responsibilities, it is literally impossible to directly oversee any more than a few levels of hierarchy. There just isn’t enough time. There simply has to be some independence at the bottom which economic planners can’t plan for, or control. This simple fact of organization can thwart even the best-laid plans.
- Gordon Tullock – The Organization of Inquiry
A public choice approach to the process of scientific advancement. A basic tenet of economics is that people respond to incentives; Tullock applies this insight to scientists and their professional behavior. Along the way, Tullock anticipates Google (in 1966!) and is skeptical of tenure for college professors. The link goes to a free PDF version.
- Neil DeGrasse Tyson – Death by Black Hole: And Other Cosmic Quandaries
A collection of Tyson’s monthly essays for Natural History magazine. It’s a little scattershot, as many essay collections are. But this is an entertaining read, with plenty of quality science to go along with Tyson’s occasionally curmudgeonly sense of humor.
- Kevin Underhill – The Emergency Sasquatch Ordinance: And Other Real Laws that Human Beings Actually Dreamed Up, Enacted, and Sometimes Even Enforced
A hilarious collection of weird statutes covering ancient times, modern times, and federal, state, local, and international statutes. There is at least a laugh per page. A useful example for illustrating the difference between legislation and law.
- Kathleen Walker-Meikle – Medieval Cats
A fun little book I picked up in the Musée de Cluny‘s gift shop in Paris. There are beautiful illustrations of illuminated manuscripts on nearly every page, and there are some insights on how man’s relationship with animals has evolved over the years. We’re much kinder now.
- Luigi Zingales – A Capitalism for the People: Recapturing the Lost Genius of American Prosperity
An attempt at libertarian populism. I am wary of populism in all its forms, from Ancient Roman populares to William Jennings Bryan, right on up through John Edwards and John McCain. But if Zingales’ approach succeeds at making thorough illiberals a little more liberal at the margin, he will have done a valuable public service.
Honorable-ish Mentions: Parenting Books
I haven’t read these two cover-to-cover, but am following along as my wife’s pregnancy unfolds.
- Armin A. Brott and Jennifer Ash – The Expectant Father: Facts, Tips, and Advice for Dads-to-Be
A guide to pregnancy aimed at men. Offers advice on how to provide emotional support, be engaged in the process, and more. There is an overcautious, scaredy-cat vibe in places that I don’t care for, and at times I feel the authors think men are oafs (in their defense, this is often true). It still has plenty of useful information.
- Heidi Murkoff and Sharon Mazel – What to Expect When You’re Expecting: 4th Edition
Again, quite useful, but flawed. At times the reader feels like the authors are judging him/her. If you don’t do everything just so, you are a failure as a parent. This is a common theme in the parenting literature. Giving confidence to people who need it seems to me a healthier approach than shaming and fearing, but that’s just me.
Continuing this blog’s annual tradition (2009, 2010, 2011, 2012), here are capsule reviews of all the books I read this year. Only books read all the way through are included. Unless stated otherwise, I enjoyed them all and recommend them. Hopefully you’ll find something here that catches your eye; do feel free to share back in the comments or via email.
- John Allison – The Financial Crisis and the Free Market Cure
The first two thirds or so are nuts-and-bolts policy analysis, argued clearly and directly. The final third is more philosophical. This book may not exude charisma, but what it lacks in flash it more than makes up for in substance and clarity. One of the best books about the financial crisis.
- Dominick T. Armentano – Antitrust: The Case for Repeal (2nd edition)
Rather strident in tone for my taste. Even so, this is a concise, clear, and valuable summary of how antitrust laws undermine the competitive process, rather than enhance it; intentions are not results. The link goes to a free PDF version.
- Bernard Bailyn – The Barbarous Years: The Peopling of British North America: The Conflict of Civilizations, 1600-1675
This appropriately titled book gives a painstakingly thorough treatment of the first permanent European settlements by region from the Carolinas to the Chesapeake, to New Amsterdam/New York, and on up to New England. It also gives a thorough treatment of the Native Americans they displaced. Almost without exception, people back then lived hard, short, and shockingly violent lives.
- Radley Balko – Rise of the Warrior Cop: The Militarization of America’s Police Forces
An important book by one of my favorite journalists. A long process has given America’s police forces a SWAT team-mentality towards even non-violent offenses. This change was mainly driven by the drug war, but also by seizing on catastrophic events such as the 1965 Watts riots, the 1999 Columbine massacre, and of course, 9/11. The consequences are, on a daily basis, quite literally life and death.
- Yoram Bauman and Grady Klein – The Cartoon Introduction to Economics, Volume Two: Macroeconomics
This is a wonderful approach to popularizing economics, and Bauman and Klein have mastered it. Volume 1 neglected trade in favor of game theory; trade gets its due here. The authors give both spontaneous order and constructivist perspectives a fair say on a range of issues, but they neglect to apply public choice and knowledge problem concerns in their carbon tax cheerleading towards the end. Even so, highly recommended for anyone interested in learning more about economics.
- “Joe Biden” – The President of Vice
The Onion’s 2012 election coverage portrayed Biden as a hard-living, cash-strapped, Trans Am-driving burnout who happened to be vice president. This short e-book is that fictionalized Biden’s autobiography. It’s a one-note symphony, but taken in small doses, it is quite funny.
- Lee Billings – Five Billion Years of Solitude: The Search for Life Among the Stars
Lots of good science here for astronomy buffs. What sets Billings apart is that he also writes about the personalities behind the science, at times very poignantly.
- Daniel Boorstin – The Discoverers
An erudite history of innovation, discovery, openness, progress, and science that, as one reviewer put it, reads a bit like an adventure story. The section on sea exploration, discovering the New World, and establishing trade routes to the East is especially vivid.
- John Bradshaw – Cat Sense: How the New Feline Science Can Make You a Better Friend to Your Pet
Cats are weird. Bradshaw explains the science behind their weirdness in layman-friendly language. The early chapters on feline evolution and domestication are superb. The later chapters explaining many cat behaviors are useful for cat owners, including this reviewer.
- Geoffrey Brennan and James Buchanan – The Reason of Rules
After explaining the important difference between acting within rules and acting to change the rules, they show that rule changes are necessary for reforming everything from deficit spending to the tax code. As a bonus, they build a model in which a flat income tax gives a more equal income distribution than a progressive income tax. The book relies too heavily on homo economicus for my taste, but contains many valuable insights. Both authors are deep and careful thinkers.
- Jason Brennan – Libertarianism: What Everyone Needs to Know
In this quick-reading book, Brennan asks and briefly answers 105 questions about libertarianism, covering everything from the war on drugs to the positive-negative rights distinction to the many different flavors of libertarianism.
- Rex Brown with Mark Eglinton – Official Truth, 101 Proof: The Inside Story of Pantera
Some parts could have come straight from the “Joe Biden” memoir above. Rex is also much more venal than his laid-back image would suggest. Even so, this was a heartfelt, honest read about one of my favorite bands from back in the day.
- James Buchanan – Better Than Plowing and Other Personal Essays
Buchanan, who died earlier this year, published this collection a few years after he won the economics Nobel. It was partially intended as a way to shrug off reporters. Besides the expected autobiographical details–the title alludes to his rural upbringing–it contains many nuggets of economic, professional, and personal wisdom. An example of a life well lived.
- James Buchanan – The Limits of Liberty: Between Anarchy and Leviathan
Buchanan described this book as his most successful attempt at a one-volume summation of his research program. He distinguishes between constitutional and post-constitutional analysis. The first studies the rules of the game and how they are decided upon, and the second studies how people behave once those rules are in place. Political reforms that fail to account for both phases will turn out rather differently than intended.
- James Buchanan – The Logical Foundations of Constitutional Liberty: Collected Works, Volume 1
A collection of 31 papers spanning Buchanan’s career. The selections cover all of his major contributions: public finance, the importance of constitutional vs. post-constitutional analysis, ethics, contractarianism, subjectivism, and, as always, viewing politics without romance.
- James Buchanan – Cost and Choice: An Inquiry in Economic Theory
Buchanan’s treatment of opportunity costs and how they influence decision-making in market and non-market situations. His subjectivity shines throughout.
- James Buchanan and Gordon Tullock – The Calculus of Consent: Logical Foundations of Constitutional Democracy
One of the founding documents of public choice theory, which applies economic methodology to politics. Buchanan and Tullock emphasize methodological individualism, and reject treating groups as the relevant unit of analysis. They also set unanimity as an ideal decision-making benchmark, as opposed to simple majority rule. Their insight that logrolling (vote-trading) is a market behavior was revolutionary.
- James Buchanan and Richard Wagner – Democracy in Deficit: The Political Legacy of Lord Keynes
When Keynes and his followers ended the old time fiscal religion’s taboo on deficits and inflation, politicians celebrated. Voters like getting stuff from the government, but dislike paying the requisite taxes. Successful politicians could now cater to both of these contradictory preferences through deficit spending and inflation. They won’t stop until the prevailing fiscal ideology changes back, but Buchanan and Wagner also propose institution-level fixes such as a balanced budget amendment.
- Christopher Buckley – Boomsday
A fiscal satire, of all things. The young protagonist jokingly proposes fixing the entitlement crisis by giving tax incentives to baby boomers for voluntarily killing themselves (“transitioning”) by age 70, thus saving younger taxpayers from having to support them. The fun begins when people start taking her idea seriously.
- Robert Burton – On Being Certain: Believing You Are Right Even When You’re Not
Certainty is a long-time interest of mine. Burton, a medical doctor, goes into the physiological, neurological, and psychological reasons why people are irrationally sure of themselves. The section on the evolutionary benefits of capital-C Certainty is particularly enlightening, but the later discussion of faith-vs.-science is tiresome. The book could have used a treatment of more earthly ideological certainty instead.
- Robert A. Caro – Master of the Senate: The Years of Lyndon Johnson III
Caro takes more than 1,000 pages to cover Johnson’s 12 years in the Senate. And yet this book is an exciting, dramatic read. Its heart is the fight for the 1957 civil rights act — the first such bill the Senate had passed in 82 years, during Reconstruction.
- Robert A. Caro – The Passage of Power: The Years of Lyndon Johnson IV
Covers Johnson’s vice presidency, the Kennedy assassination, and the first seven weeks of his presidency. Johnson used the assassination crisis to quickly pass almost the entirety of Kennedy’s remaining legislative agenda, and much else besides. An effective, if wholly unintentional rebuttal to Naomi Klein’s Shock Doctrine.
- Rory Carroll – Comandante: Hugo Chávez’s Venezuela
Neither a left-wing hagiography nor a right-wing hatchet job. This book is more about painting a vivid picture of Chávez, Venezuela, and its people than constructing a narrative history. While the reader’s sense of chronology suffers, Carroll’s approach also makes the book nearly impossible to put down. Coincidentally, it was released just two days after Chávez’s death was announced.
- Ronald H. Coase – Essays on Economics and Economists
Coase died this year at age 102. This collection opens with Coase’s Nobel lecture and continues with essays on methodology, mathematicization, and the role economics can play in enhancing human understanding. The second half consists of biographical sketches of Adam Smith, Alfred Marshall, Arnold Plant, George Stigler, and other economic luminaries. Coase knew many of them personally.
- Ronald H. Coase – The Firm, the Market, and the Law
This collection includes Coase’s most influential essays, including “The Nature of the Firm,” “The Problem of Social Cost,” and “The Lighthouse in Economics.” The other material is certainly worthy of inclusion, but I wish it had also included “The Federal Communications Commission,” which introduced the idea of wireless spectrum auctions that the FCC currently (sort of) uses. So far as I know, that widely cited article remains relegated to JSTOR.
- Gregory Cochran and Henry Harpending – The 10,000 Year Explosion: How Civilization Accelerated Human Evolution
Evolution did not stop when civilization began. Instead, the authors argue that human evolution has actually accelerated 100-fold since the Agricultural Revolution, and they back it up impressively. They even theorize that natural selection may have played a part in why the Industrial Revolution happened when it did, which is of particular interest to this reader.
- Rich Cohen – Monsters: The 1985 Chicago Bears and the Wild Heart of Football
My grandfather lent this to me. Even as a Packer fan, I greatly enjoyed it. The focus is on the 1985 championship team, but it also contains a quality history of the franchise going all the way back to team founder George Halas’ childhood. A good rivalry has two worthy opponents, and this book made me see the Bears in a new light. As Sun Tzu said, know your enemy.
- Susan Crawford – Captive Audience
Not recommended. The author argues that the Internet has become a near-monopoly, and government should regulate it as a public utility, like a power plant or a waterworks. The harried tone borders on conspiracy theorizing, at times almost comically so. In particular, Crawford’s prediction of Netflix’s imminent doom at Comcast’s hands is so far turning out to be rather inaccurate.
- Dan Daly – The National Forgotten League: Entertaining Stories and Observations from Pro Football’s First Fifty Years
An offbeat history of pro football from its small-town 1920s beginnings through the 1960s, when the AFL and NFL both commanded national attention. The main attraction is its collection of humorous stories and anecdotes, and quotes from the game’s most colorful early personalities. But there is also a strong narrative component about the game’s evolution from primitive, run-oriented single-wing offenses run in front of small crowds to the T-formation variations that still dominate today’s pass-happy game in packed stadiums and on national tv.
- Frank Dikötter – The Tragedy of Liberation: A History of the Chinese Revolution 1945-1957
I could only read this book in small chunks; it was too much to bear. Dikötter has done more than construct a standard historical narrative. In addition to archival work, he interviewed survivors, giving their names and telling their stories in their own words. The old saying about one death being a tragedy and a million deaths being a statistic is uncomfortably true. This book, in a way that the Black Book of Communism does not, humanizes one of the world’s saddest statistics.
- Rolf Dobelli – The Art of Thinking Clearly
Dobelli, a Swiss novelist and entrepreneur, gives a light-hearted yet thoughtful treatment of common fallacies and mental mistakes. The book has 99 chapters covering 99 fallacies, though each is only a few pages long. Reads quickly, but its lessons are worth thinking over carefully; this book is best taken in small doses.
- Donald Driver – Driven: From Homeless to Hero, My Journeys On and Off Lambeau Field
Something of a victory lap for Driver, a Packer great who retired after the 2012 season. He overcame a rough upbringing to become Green Bay’s all-time leading wide receiver, a Super Bowl champion, and a family man. He also won the popular Dancing with the Stars television show, an accomplishment in which he takes great pride.
- David Epstein – The Sports Gene: Inside the Science of Extraordinary Athletic Performance
A look at how nature and nurture interact in elite sports. The two are so tightly intertwined that one cannot exist without the other. An excellent complement to Steven Pinker’s The Blank Slate. One also learns about the intricacies of everything from high jumping to sled dog racing.
- Brian Fagan – Cro-Magnon: How the Ice Age Gave Birth to the First Modern Humans
Fagan is a wonderful popularizer, as capable of painting pictures with words as he is at explaining the latest scientific advances in archaeology. An excellent read about a subject that I very much enjoy, but rarely delve into. Highly recommended.
- D.X. Ferris – Slayer’s Reign in Blood
An in-depth look at the personalities, creative process, context, and larger cultural importance of my favorite album by one of my favorite bands–and one of the few that has stood the test of time from adolescence to adulthood.
- Don Gulbrandsen – Green Bay Packers: The Complete Illustrated History – Third Edition
This book gives in-depth coverage to Green Bay’s three eras of greatness — Curly Lambeau’s six championships in the team’s early years, Lombardi’s five championships in the 1960s, and the current 20-plus-year run that began with team president Bob Harlan, GM Ron Wolf, coach Mike Holmgren, and QB Brett Favre. This edition concludes with the Packers’ record-setting 13th championship under the current Ted Thompson-Mike McCarthy-Aaron Rodgers triumvirate. Just as important, the book also gives plenty of attention to the fallow years in between.
- Daniel Hannan – Inventing Freedom: How the English-Speaking Peoples Made the Modern World
Hannan argues that Anglospheric exceptionalism is rooted in institutions such as the common law, representative democracy, and what legal scholar Randy Barnett might call a presumption of liberty. This is mainly a work of history, and a well-done one at that. But Hannan’s perspective makes a familiar story seem entirely new. I recorded a podcast with him about the book here.
- F.A. Hayek (W.W. Bartley III and Stephen Kresge, eds.) – The Trend of Economic Thinking: Essays on Political Economists and Economic History
The third volume of Hayek’s collected works. This volume is a collection of historical essays and lectures with a focus on monetary theory, many of which date back to Hayek’s early years at the London School of Economics in the 1920s and 1930s. Also contains biographical sketches of Richard Cantillon, Henry Thornton, Hermann Heinrich Gossen, Hume, Bacon, Adam Smith, and Bernard Mandeville. The link goes to a free PDF version.
- Peter Hook – Unknown Pleasures: Inside Joy Division
Caustic, yet poignant. Joy Division’s bassist, not always the most sympathetic character, chronicles the band’s unfinished rise. Fortunately, their music lives on.
- Arnold Kling – The Three Languages of Politics
In this short ebook, Kling outlines his three-axis model, which explains why people of different ideologies talk past each other, and rarely to each other. Progressives largely see the world through an oppressor-oppressed axis, conservatives through a civilization-barbarism axis, and libertarians through a freedom-coercion axis. The three types can look at the same data and draw three completely different conclusions. This deserves a fuller treatment, which I hope Kling will give in the near future.
- Lawrence Krauss – The Physics of Star Trek
A bit of good fun to accompany the release of the new Star Trek movie in May. I unfortunately read the older edition from 1995, which is quite dated in places; physics advances quickly. The link goes to the newer 2007 edition.
- Mark Leibovich – This Town: Two Parties and a Funeral, Plus Plenty of Valet Parking in America’s Gilded Capital
No matter how cynical you might be, there are always people out there even more jaded than you are. Many of them live in Washington and appear in this book. Leibovich is certainly among their number, but he is refreshingly honest about it.
- John Locke – Second Treatise of Government
It’s good to revisit the classics. The tone of this particular classic is much more revolutionary than I remembered. I no longer wonder why Locke had his troubles with the authorities.
- Edward Lopez and Wayne Leighton – Madmen, Intellectuals, and Academic Scribblers: The Economic Engine of Political Change
The first two thirds of the book are a layman-friendly (and highly recommended) tour of political philosophy from Plato to the Enlightenment, and of economics from Adam Smith to James Buchanan. The remainder shows that political change happens much the same way economic change does: a mix of fortuitous circumstances and active, opportunistic entrepreneurship. The authors coin the term “political entrepreneur” to describe effective change agents.
- Megan McArdle – The Up Side of Down: Why Failing Well Is the Key to Success
This might sound like a self-help book, but it isn’t. The publisher sent me a pre-release galley in the mail, and I’m glad they did. Megan takes Schumpeter’s creative destruction and Israel Kirzner’s competition as discovery procedure, and runs with them. Better, she humanizes those abstract ideas and makes them accessible to the layman. It doesn’t come out until February, but this book is worth a pre-order from Amazon. Highly recommended.
- Ludwig von Mises – Interventionism: An Economic Analysis
Written in 1940, after World War II began, but before the U.S. entered the fray. Mises, an Austrian Jew who narrowly escaped the Nazis, argues that Britain, France, and the other Allies would have been in a better position to defeat Germany–or prevent war altogether–if they had not economically weakened themselves in the interwar years with interventionist policies. Some arguments prefigure Hayek’s Road to Serfdom, which came out four years later.
- Albert Mudrian – Choosing Death: The Improbable History of Death Metal and Grindcore
A quality oral history of extreme metal. The author interviewed more than 100 people for this book, and it is mostly their words. The book is especially strong on the early days, but loses its way by 2000 or so. It contains no mention of several major bands, including Meshuggah and Lamb of God. Other major bands, such as Fear Factory, have cameos at best. This is a good book for fans of the genre, but it may be time for an updated edition.
- Tom G. Palmer (ed.) – Why Liberty?
Tom accurately describes this book as a “snack tray for the mind.” This quick-reading collection of short essays by a variety of mostly young scholars is the fourth in Students for Liberty‘s annual series. It looks at the idea of liberty from the perspectives of history, philosophy, policy, the arts, economics, and more. The link goes to a free PDF version.
- Steven Pinker – The Better Angels of Our Nature: Why Violence Has Declined
Probably the most thought-provoking book in this list not authored by Jim Buchanan. Pinker shows with abundant data that for several millennia now, humanity has become progressively less violent over time, both in degree and in kind. Despite a 1960s-70s blip with echoes lasting into the 1990s, the trend continues to this day. Pinker’s many theories as to how this came about range from genetic change to the rise of commerce and bourgeois values to an environmentally-caused improvement in abstract reasoning capabilities (and relatedly, empathy).
- George H. Smith – The System of Liberty: Themes in the History of Classical Liberalism
Smith, a top-flight political philosopher and intellectual historian, surveys the major themes and debates in liberal thought. He also clears up common misconceptions and smears, such as the conflation of individualism with atomism, and Herbert Spencer’s use of the term “survival of the fittest.” Smith treats the usual big names like Locke, Hobbes, and Mill, but also introduces several lesser-known thinkers such as Thomas Hodgskin, William Graham Sumner, and Georg Simmel. This is the kind of book that rewards re-reading, which is a compliment I certainly intend to pay this excellent work.
- John B. Taylor – Getting Off Track: How Government Actions and Interventions Caused, Prolonged, and Worsened the Financial Crisis
When the financial crisis first hit, most people thought the cause was a liquidity crunch, because that is what caused the Great Depression. Taylor was one of the first to show that the crisis was instead caused by too much risk. Liquidity-oriented policies such as ad hoc bailouts and stimulus made the crisis worse by causing uncertainty while leaving the original risk problem untreated. One quibble: at one point he calls a counterfactual analysis “empirical,” which strikes this reviewer as literally impossible. Otherwise highly recommended.
- John B. Taylor – First Principles: Five Keys to Restoring America’s Prosperity
Without rejecting Getting Off Track‘s data-driven approach, Taylor grounds this book more in philosophical principles. The five he emphasizes are limited government, rule of law, strong incentives, reliance on markets, and predictability. He applies them to a wide suite of issues, from monetary policy to cronyism to health care.
- Gordon Tullock (Charles K. Rowley, ed.) – The Selected Works of Gordon Tullock, Volume 1: Virginia Political Economy
An introduction to the sheer breadth of Tullock’s work. The 50 or so collected articles are a case study in economic imperialism. They cover the economics of voting, rent-seeking, politics, legal systems, judicial decisions, anarchy, pollution, crime, and even bioeconomics, which applies economic methodology to the study of nature and animal behavior.
- Gordon Tullock (Charles K. Rowley, ed.) – The Selected Works of Gordon Tullock, Volume 5: The Rent-Seeking Society
In economics, rents are outsized profits that go above and beyond a normal rate of return. Rent-seeking is using government to unfairly gain these rents, whether through subsidies, favorable regulations, or other special treatment. This book collects Tullock’s pioneering work on the subject. It is a travesty that he has not won the Nobel.
- Kurt Vonnegut – Breakfast of Champions
Vonnegut had a remarkable way of being world-weary and childlike at the same time.
- Lawrence H. White – The Clash of Economic Ideas: The Great Policy Debates and Experiments of the Last Hundred Years
A superb intellectual history of economics. The main focus is WWI-present, but along the way the reader also meets Adam Smith, Ricardo, Mill, the Fabians, and many other earlier titans whose ideas continue to influence today’s debates.
- Lawrence Wright – Going Clear: Scientology, Hollywood, and the Prison of Belief
Wright goes well out of his way to be evenhanded, possibly in part because of Scientology’s litigious tendencies. His just-the-facts presentation actually makes the church come off worse. The parts about the Sea Org and the Rehabilitation Project Force are a uniquely American addition to prison literature.
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