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I. Kant

Books/sites for Economics?

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Are there any good books/websites that explain complex economics? I have read Adam Smith's An Inquiry into the Wealth of Nations and Ricardo's On The Principles of Political Economy and Taxation. I read my friends' books on economy, and it ranges from money (m1, m2, m3) and its explanation to things I haven't heard of. Does anyone know any books or websites that has complex economics and explains it? :confused:

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Oh, well I will let others discuss Kant with you. I am not in the mood for an argument this late at night. I dont think the whole "kant is my favorite thing" will go over well here. Maybe, thats why you came here?

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I'd suggest George Reisman's Capitalism, Ludwig von Mises' Human Action and Socialism. I am sure they thoroughly cover "advanced economics" (Capitalism is well over a thousand pages).

I also suggest capitalism.net. There are several essays in the essays section that cover "advanced" topics. The site also offers Capitalism and Human Action for download in PDF format for free (printing function disabled, of course).

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Thomas Sowell's Basic Economics is the best book I've read so far on the subject.

I thought he was looking for "advanced", not "basic". :)

I. Kant,

In comparison to Capitalism, though, Basic Economics is...well...basic. Capitalism is really in-depth and detailed, and it even integrates the foundations of economics (Part I) with Objectivism's basic principles in ethics and politics, as well as the "pyramid of ability" with the productive role of businessmen and capitalists.

It contains an in-depth critique of the primary tenets of Keynesianism and Marxism, and it shows clearly how socialism is inherently self-destructive (as opposed to merely inefficient as many economists would claim). There are a lot of algebraic equations in Part III of the book (the part that covers the "advanced" topics), but I doubt you'll have any difficulty with them.

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If anyone is looking for practical, realistic knowledge about economics - specialy about macroeconomics, then I would recommend website of H. C. Wainwright Economics (hcwe.com). It' s by far the best economics that I have ever seen. I have been studying economics and finance at university for several years and I have also read many Austrian and classical economist, but HCWE is the best. I have read several articles written by Richard M. Salsman and I think that he is also very good, but his website contains only paid for materials.

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Economics as such is a scientific field distinct from philosophy itself. Strictly defined, the nature of capitalism is a philosophical/political, not an economic question. Political philosophy is concerned with the question of which social and economic system (of which capitalism is one) is proper for man, while economics is concerned with the particular nature of economic transactions.

By starting this thread in the “political philosophy” forum and asking for resources on “advanced economics” you seem to imply that there exists a field that studies economic questions in a political context. That is false – a proper understanding of capitalism requires very little knowledge of economics. In particular, the practicality and morality of capitalism is based on self-evident facts of human nature, not “complex” econometric calculations.

Having said that, if you are looking for “complex economics,” I would ask whether you are looking for explanations of the legal application of political philosophy, a discussion of human economic behavior, or a guide to understanding market behavior.

Btw, In addition to the books mentioned above, here is one which anyone with an interest in economics or capitalism should read: Economics in One Lesson by Henry Hazzlit.

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Studying economics is not necessarily a study into a "scientific field" of "complex econometric calculations." If you actually read anything more from Hazlitt it is obvious he comes from a school of thought not scientific in their premises. That school is the Austrian School of Economics. They lend subjective analysis to economics. To them it is the study in which there are rational economic actors (where people seek benefit or the least disatisfication through action), in which Ludwig Von Mises termed as praxeology.

In the case of Hazlitt he showed the error when governments interfered in the economy causing cycles of booms and busts and the Great Depression. It was the very economic scientism that Keynes advocated that lead to such things. On his advice the Federal Reserve artificially manipulated interest rates to meet 'supply and demand' and re-aligned investment capital, all-in-all trying to use statist means to reach market equilibrium.

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Studying economics is not necessarily a study into a "scientific field" of "complex econometric calculations."  If you actually read anything more from Hazlitt it is obvious he comes from a school of thought not scientific in their premises.

Before you starting quoting me, I would ask that you quote words that I actually wrote. I find your attempt to lecture me on the “non scientific” approach of Austrian economics rather ironic, given where I currently work…

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Thomas Sowell's Basic Economics is the best book I've read so far on the subject.

I"ve justed finished the chapter on price controls and my mind is absolutely blown. the best amo (in modern terms) for capitalism, and against government control.

if you're interested in ADVANCED economics...then why not read Thomas Sowell's "Advanced Economics". It's everything and more i'm sure. And exactly what you would be looking for per your inquiry....

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Try www.mises.org  The site is dedicated to the Austrian view of economics.  It contains good articles and one can order books as well.

What a mish-mosh of good economics and anarchism, anti-War on Terrorism, isolationism, Christianity, and hatred of Ayn Rand!

If Mises knew what Lew Rockwell and the late Murray Rothbard had done in his name at Mises.org, he'd be turning over in his grave.

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What a mish-mosh of good economics and anarchism, anti-War on Terrorism, isolationism, Christianity, and hatred of Ayn Rand!

If Mises knew what Lew Rockwell and the late Murray Rothbard had done in his name at Mises.org, he'd be turning over in his grave.

The economics of Mises.org are excellent but their political views are dire, especially in regard to foreign policy and the existence of a state.

Every so often, they reprint some Von Mises article and the difference between Mises, with his limited state, and the rest of the anarchist piffle is highly refreshing.

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Objectivists can still stay clear of or see through the mish-mosh and focus instead on the original writings of Mises if they so choose. Someone seriously interested in economics should not miss out on Mises.

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Thomas Sowell's Basic Economics.  Read it if that is the last thing you ever do.

I heard about that book often, its even been backed by Objectivists book clubs. :)

I wonder about the connection between this book and Misses. Is it a build upon Austrian Economics or does it propagate something different.

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