Books suggestions

[Anonymous No.18471639]

Looking for books to develop a basic, well-rounded understanding of economics. Any thoughts?

[Anonymous No.18471678]

Also, not really keen on a being sold a specific system or ideology, just want to not be retarded

[Anonymous No.18471790]

bump an then ill let die

[Anonymous No.18471801]

bump and then I'll let it die

[Anonymous No.18471804]

Economics is a pointless meme. Just read The Millionaire Fastlane.

Or don't, you can't really act on it if you're a midwit. And you sound like a midwit.

[Anonymous No.18471815]

there's really nothing to learn as economics are mostly emotion driven

[Anonymous No.18471832]

>>18471639
Read Rich gook poor chink

[Anonymous No.18471835]

>>18471815
This, read a book on psychology instead

[Anonymous No.18471870]

>>18471804
Why would you assume I'm trying to get rich?
My financial health is excellent, jut trying to learn for my own betterment

[Anonymous No.18471882]

the alpha strategy
antifragile
what i learned loosing a million dollars

[Anonymous No.18471887]

>>18471639
remember reading this in HS and thinking it sucked. Look for something a little more intellectual unless you're a liberal brainlet.

[Anonymous No.18471896]

>>18471870
Study mathematics for mathematics, biology for useful models, philosophy (or self help lol) for a better life.

But there is truly no use in life for economics. The book in the OP is a collection of hackneyed trivia amounting to nothing.

[Anonymous No.18471922]

>>18471887
This is probably a better alternative: "The Bell Curve"

Most of what I know is from online courses like MIT open courseware. Once you know a little about economics and psychology these pop authors like malcom gladwell, Levitt, or even Taleb are annoying.

To be far Taleb is better than these other guys, but once you've taken a few stats courses his books are pretty annoying. There's almost no math.

[Anonymous No.18471963]

>>18471922
what are your thoughts about Mark Spitznagel ?

[Anonymous No.18471968]

>>18471922
I've taken Micro and Macro eco at the university level, years ago. Are the MIT courses worth taking>

[Anonymous No.18472047]

>>18471968
It's more informal than something like coursera and as far as I know you don't get a certificate. I usually watch the lectures. If the material is hard I'll also read the book and do the HW.

Basically MIT just puts out the lectures and course material including the syllabus. You kind of have to follow along yourself.

>>18471963
Haven't heard of him I'll check it out. My philosophy is to try to distill things to their most basic representation. The amount of information in a math equation is usually far greater and more useful than pages of text describing the implications of the equation

Not that I'm on this guys level or anything, but I think it's a similar approach to Elon. He calls it first principles approach. Like Elon I have an undergrad in physics. I think it teaches you to think in a first principles way

https://youtu.be/hHyu8Jt226M

[Anonymous No.18472072]

>>18471639
Have fun

[Anonymous No.18472104]

>>18472072
I trust autistic internet spergs more than famous academics.

https://www.youtube.com/watch?v=qvaxPH3ftUQ

[Anonymous No.18472202]

>>18472072
oh nice ive been wanting to read this one for a while

[Anonymous No.18472242]

For my fellow brainlets.
Problem I had with other economics books is they throw you in the deep end straight away with massive words.

This book is literal babby's first understanding of economics tier. It explains everything with the analogy of 3 men on an island who fish.

[Anonymous No.18472342]

>>18472104
>Alternative Hypothesis
Poor choice of YT guru. Midwit.

[Anonymous No.18472357]

>>18472342
why?

[Anonymous No.18472518]

>>18472242
great ill give it an order

[Anonymous No.18472563]

>>18472518
I'd recommend the audiobook, Peter D Schiff (Gold shill you see on /pmg/) gives it a read and it has these little breaks where they link whatever is happening on the island to real world scenarios.

[Anonymous No.18472672]

>>18472563
okay cool did you purchase the audiobook or pirate?

[Anonymous No.18472821]

>>18472242
https://www.youtube.com/watch?v=bFxvy9XyUtg

His dad's was actually better, not that I don't have a few signed copies of Peter's version

[Anonymous No.18473137]

>>18471922
Taleb has a technical document outlining his thoughts in math in the Incerto

Further, he makes very strong arguments against the Bell Curve

[Anonymous No.18473147]

>>18471963
Dao of Capital is the best book for a good intro into Austrian Economics and practical application of it

[Anonymous No.18473198]

>>18473137
>he makes very strong arguments against the Bell Curve
That's just Arab IQlet cope

[Anonymous No.18473232]

>>18471639
>basic, well-rounded understanding of economics

[Anonymous No.18473293]

[Anonymous No.18473310]

>>18473232
seconding this, should be the first anyone reads on the topic. Unconcerned with ideology & what "should" happen, only with what does happen.

[Anonymous No.18473326]

>>18473232
yep

[Anonymous No.18473444]

>>18471639
>>18473293

This, and Dalio's books.

[Anonymous No.18473456]

[Anonymous No.18473706]

>>18473147

thx, gonna read that. I'm actually more interested about actionnable advices that about the theory herself.
I read the summary of the book. Could it be possible that physical silver at current prices is actually fitting Mark's investment phylosophy ?

[Anonymous No.18473788]

>>18471639

[Anonymous No.18474961]

>>18471639
human action

[Anonymous No.18475000]

The Bitcoin Standard is great.

[Anonymous No.18475027]

>>18474961
This is literally all you need.

[Anonymous No.18475119]

>>18475000
It's terrible.

[Anonymous No.18475158]

>>18475119
Nope. It was good. It's a great introduction on why sound money is important and fiat is terrible.

[Anonymous No.18475206]

>>18475158
Dunking on fiat is not new or impressive. Saifedean is a retard and his book is bad.

[Anonymous No.18475273]

>>18475206
Sure it isn't new. But the perspective is understanding why digital currency as a whole can solve it. It's a short read, the points it makes are all valid apart from the weird tangent on art (although I agree with it to an extent because look at art right now) and it provides reasonable support for the arguments on why sound economies performed well and why those that had poor monetary systems failed. If anything, the flaw in it is not diving deeper into why bitcoin itself isnt great.

[Anonymous No.18475308]

>>18471639
That book is more about statistics than economics. Its more of a fun, short read than giving you a well rounded understanding.

[Anonymous No.18475658]

Samuelson's economics

[Anonymous No.18475679]

>>18475308
good to know!

[Anonymous No.18475815]

>>18472242
Isn't Peter Schiff the doomer who always tells people to buy gold? Not a fan

.>>18473293
half of those books can be summarized as "buy index funds, dollar cost average, time in the market beats timing the market".

>>18471639
The Swedish Investor YouTube channel gives 10-15 minute book summaries on financially related books. That way you can at least get an idea if it sounds like something you'd be interested in and you get the major points.

[Anonymous No.18476829]

economics is just common sense stuff imo, you learn all you need to know just living in a society and observing the world around you. not sure how people get away with making it a whole study and career path desu.....what kind of filler fluff gets crammed into a book on economics?

[Anonymous No.18477144]

>>18471639
Protocols of the Learned Elders of Zion teaches you everything you need to learn about finance and how to get ahead in life in general.

[Anonymous No.18477203]

>>18471639
Take some classes at your local community college. Pretty sure most go up to advanced macroeconomics.

[Anonymous No.18477332]

>>18471896
>But there is truly no use in life for economics. The book in the OP is a collection of hackneyed trivia amounting to nothing.

The connection between abortions and crime rates is a big deal as there were previously no formal studies to show the link between the two (less access to abortions -> more unwanted children -> neglect/abused kids -> troubled youths turning to crime) that could be used to help influence policy makers' decisions.

These economic connections are useful but most people aren't in the position to make good use of them.

[Anonymous No.18477361]

>>18471639
I have yet to find any
They all are effectively forced to subscribe to a econ-political model of some kind.
I say get a good spread then build your own once to mastered the others.

After studying it for a few years in college I am convinced that it the models are always changing. Any "law" discovered will be subverted once it is known.
Lets say you figure it all out, and then use it to game the system to get rich. Then others learn of your model and copy you getting rich as well. Once enough people are getting rich gaming the system. The system no longer follows your model as a significant number of actors have changed their behavior to get rich using your model which is now invalid. Thus a new unknown model is born. This is why I don't think econ will ever find "laws", everything is meta as people try to get rich quick.
It is still useful for modeling ideas and systems, but it is just a tool not a crystal ball. Another thing is deciding if you start with data then theory, or theory then data. If may seem like a trivial detail, but it greatly effects your thinking when trying to solve the problems.
I personally put theory first, while nearly everyone I know puts data first. I think everyone is so busy looking at numbers and check the math, they don't step back and ask about the basics like why did the consumers habits change? Many will cite things lower income, but I say it is fear, after all they could keep their habits by taking out loans. ... Stuff like that.

[Anonymous No.18477406]

>>18473293
Why is Dostoevsky's The Idiot included there? The scene where the chick tosses her suitor's wad of rubles into the fireplace?

[Anonymous No.18478249]

>>18473137
I read fooled by randomness and didn't see that. I'll look it up. If he wrote a good paper that is probably better to read than the whole book.

[Anonymous No.18478875]

First for The Art of The Deal