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How Society's Ecosystem Works
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THE EVOLUTION OF COOPERATION by Robert Axelrod (A Basic Books 1984 Softcover "How Cooperation Can Emerge in a World of Self-Seeking Egoists")THE EVOLUTION OF COOPERATION by Robert Axelrod (A Basic Books 1984 Softcover "How Cooperation Can Emerge in a World of Self-Seeking Egoists")
Buy used from: $12.00
The one MUST READ in this list.A splendid introduction to ideas of game theory,the Prisoner's Dilemma ,moral computations ,etc and their impact on how society functions .Axelrod's explanation of the contrast between the ferocity of WWI and WWII warfare was thought provoking.
Stability and Complexity in Model Ecosystems (Princeton Landmarks in Biology)Stability and Complexity in Model Ecosystems (Princeton Landmarks in Biology) by Robert M. May
Buy new: $38.55 / Used from: $28.53
A great introduction to ecological dynamics,which underpins much of economic modelling.There is no better way to develop an appreciation of feedback loops in complex systems than to read this masterpiece.Dont let the modest amount of mathematics scare you away-the effort is worth it.Communities will never look quite the same after reading this book.
The Social Atom: Why the Rich Get Richer, Cheaters Get Caught, and Your Neighbor Usually Looks Like YouThe Social Atom: Why the Rich Get Richer, Cheaters Get Caught, and Your Neighbor Usually Looks Like You by Mark Buchanan
Buy new: $16.47 / Used from: $1.13
An excellent discussion of social dynamics vis-a-vis a comparison and contrast with statistical mechanics,as physicists study it.Buchanan even tells you why bars tend to be unpredictably crowded on certain nights.This book is quite accessible,though,and highly recommended.
Why Most Things Fail: Evolution, Extinction and EconomicsWhy Most Things Fail: Evolution, Extinction and Economics by Paul Ormerod
Buy new: $14.49 / Used from: $5.70
This book reminded me that while Darwin's father was an MD,his mother was from an wealthy family of the Industrial Revolution era.Ormerod does a good job applying ecological dynamics to business evolution and extinction and in explaining the statistical nature of extiction events in our inter-linked economy,which is modeled as an ecology.Some thought is required ,but is rewarded.
Fooled by Randomness: The Hidden Role of Chance in Life and in the MarketsFooled by Randomness: The Hidden Role of Chance in Life and in the Markets by Nassim Nicholas Taleb
Buy new: $18.48 / Used from: $17.58
The Black Swan: The Impact of the Highly ImprobableThe Black Swan: The Impact of the Highly Improbable by Nassim Nicholas Taleb
Buy new: $18.48 / Used from: $9.19
The Misbehavior of Markets: A Fractal View of Financial TurbulenceThe Misbehavior of Markets: A Fractal View of Financial Turbulence by Benoit Mandelbrot
Buy new: $9.66 / Used from: $2.88
An interesting discussion of the shakey conceptual foundation of financial theory,by the man who introduced fractals and power laws to economics.Though rather poorly written,this book clearly explains why and how large events dominate market behaviour.Mandelbrot's critique of the CFA establishment is interesting and disturbing.
When Genius Failed: The Rise and Fall of Long-Term Capital ManagementWhen Genius Failed: The Rise and Fall of Long-Term Capital Management by Roger Lowenstein
Buy new: $10.88 / Used from: $4.39
A readable story of the rise and fall of LTCM which gives a glimpse of how a group of Nobel-lead whiz kids lost billions by sloppy work and hubris.I was fascinated to read that the "fat tail" problem was appreciated by the finance community back in the 70's.This is an interesting companion piece to Mandelbrot's book,above.
The Economic Naturalist: In Search of Explanations for Everyday EnigmasThe Economic Naturalist: In Search of Explanations for Everyday Enigmas by Robert Frank
Buy used from: $4.48
A great book-and even better than "Freakonomics".In a series of tutorial puzzles and analyses,Frank reveals the underlying role of incentives in life-from shopping,to work place compensation,to human relations.Frank does a good job interweaving and balancing both the cost-benefit and emotional trade-offs which enter the many choices we encounter in life.
The Logic of Life: The Rational Economics of an Irrational WorldThe Logic of Life: The Rational Economics of an Irrational World by Tim Harford
Buy new: $16.50 / Used from: $1.94
A fine,readable survey,from game theory, to Schelling's Go set model of segregation, to perception and predjudice in hiring-a chapter that will disturb you but surely make you think.Harford's speculations on why the Industrial Revolution began in England were especially intriguing-pity he did not tell us how China missed out.
Predictably Irrational: The Hidden Forces That Shape Our DecisionsPredictably Irrational: The Hidden Forces That Shape Our Decisions by Dan Ariely
Buy used from: $12.95
Ariely does a great job on analyzing our predictable but irrational behaviour patterns.If you've ever wondered about procrastination,effects of arousal on decision making,oddities of ownership and when we might or might not cheat,this is the book for you.An advertising agency or Ministry of Propaganda would love it,too-something to consider...
The Tipping Point: How Little Things Can Make a Big DifferenceThe Tipping Point: How Little Things Can Make a Big Difference by Malcolm Gladwell
Buy new: $8.97 / Used from: $2.99
The long stay of this book atop the best seller list speaks for itself.A great read,and thought provoking,too.Now I see mavens,connectors and salesmen everywhere.I'll bet that Obama and his staff read this book carefully.
The Undercover EconomistThe Undercover Economist by Tim Harford
Buy new: $10.17 / Used from: $3.96
This is a good,painless introduction to basic economics and economic thought for those who never had a formal course in the subject.It is well written,and addresses real world questions and situations.Its a good pre-requisite for other works on this list.
More Sex Is Safer Sex: The Unconventional Wisdom of EconomicsMore Sex Is Safer Sex: The Unconventional Wisdom of Economics by Steven E. Landsburg
Buy new: $19.76 / Used from: $0.01
This book is more thought provoking than it is informative,but still very worthwhile.I found its discussions of judicial reform,how to view the problem of paying for entitlements,and how to reform congress and government to be very stimulating.Landburg's views are often an interesting contrast to Frank's,discussed above.
Six Degrees: The Science of a Connected Age (Open Market Edition)Six Degrees: The Science of a Connected Age (Open Market Edition) by Duncan J. Watts
Buy new: $9.66 / Used from: $5.29
Linked: How Everything Is Connected to Everything Else and What It MeansLinked: How Everything Is Connected to Everything Else and What It Means by Albert-Laszlo Barabasi
Buy new: $10.40 / Used from: $3.99
Origin of Wealth: Evolution, Complexity, and the Radical Remaking of EconomicsOrigin of Wealth: Evolution, Complexity, and the Radical Remaking of Economics by Eric D. Beinhocker
Buy new: $15.34 / Used from: $10.16