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Books to Learn About Economic Models

Reading is a habit that Colombians do not have as developed compared to the rest of the world, because according to the World Atlas ranking, the country that reads the most is India with 10.7 hours, while Colombia does not reach four hours. However, learning in these fields such as economics is essential in times of uncertainty.

Below we recommend books for you to learn more about the capitalist, communist or mixed economic models.

The Wealth of Nations

This book, written by Adam Smith in 1776, is listed as one of the first books on modern economics. In its more than 800 pages, important and current issues are touched on, such as that the market is the main thing and political control must be minimal so that prices are freely configured as if they were controlled by “an invisible hand”. The book expounds economic theories on the division of labor, the market, wages, and capital accumulation.

New economic history of Colombia

Salomón Kalmanovitz exposes in this book a historical accompaniment of the economy in Colombia, within this topics such as the pre-Columbian economy are touched, including the time of the conquest, independence and economic evolution from 1886 to 1905. In this text the Colombian economist studies some business cases that with their decisions marked drastic changes in Colombia.

the capital

This work by Karl Marx, written in 1867, has meant a roadmap and influence for socialist ideology. Marx is considered the father of socialism thanks to this work, which was published in three volumes. Although his author did not live to publish the second and third parts of the book, both were completed thanks to notes he left and were later published by his companion Friedrich Engels.

History of economic analysis

Joseph Schumpeter was an acclaimed Austrian-American economist and Minister of Finance in Austria. He studied at the University of Vienna and taught economics for years at the universities of that city. At the time of his death, Schumpeter was working on this work and although it was unfinished, he intended to explain the evolution of the economy and his thoughts from Ancient Greece to the present.

2023-07-25 05:06:35
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