Over the course of 2021, I read ~34 books. I can’t give an exact number, as I didn’t keep a running list throughout the year and have probably forgotten one or two books that I did finish at some point in 2021. Regardless, here are my thoughts on (most of) them:
Money, Bank Credit, and Economic Cycles by Jesus Huerta de Soto
De Soto does a fantastic job in this treatise of trying up the entire issue of business cycles. Using the framework of ABCT, he systematically deconstructs the causes of the boom and bust, originating from expansions of bank credit, which is itself a product of fractional reserve banking. The Austrian theories of the business cycle are found in many other works by other economists, but De Soto is the first to give a full exposition of the theory, as well as many of the sub-topics surrounding it, in one complete treatise. As such, there is no single book that is better on the topic. If you wish to have an understanding of the economy’s cyclical movements of boom and bust, I highly recommend De Soto’s work to you.
Revolutionary Russia by Orlando Figes
While slightly lopsided in the periods of time that it covers, Revolutionary Russia does a good job of providing a broad overview of the history of the USSR. Especially well written and exposited are the years leading up to the October Revolution, providing the necessary context to understand how it was that the revolution came about in the first place. Notably, the time period that Figes covers is from 1891–1991, not 1917–1991. A problem, albeit a minor one, is that the period from the end of World War II through the end of the Breznev administration feels only lightly covered. Stalin is given a full treatment, as well as Gorbachev, but everything in between is skimmed over. To be fair, the years after the Second World War were certainly less eventful than the years preceding, so the lack of ink spent here is understandable. Regardless, for an introduction to the life and times of the USSR from the turn of the century to its fall in 1991, Figes does a commendable job.
Common Sense by Thomas Paine
Common Sense is witty, humorous, brutal, and persuasive all at once. In other words, it was exactly what Paine wanted it to be. The goal of his pamphlet was to convince the American people of the “common sense” notion that remaining under the thumb of the British crown was as untenable as it was undesirable. Paine presents his case well, and more than accomplished his goal. It was instrumental in turning the popular opinion of the American people towards independence from Great Britain, and correspondingly left its irrevocable mark on history. Even today, after all these years, it is more than worth the read.
The Rights of Man by Thomas Paine
Paine is perhaps the quintessential thinker of the Classical liberal tradition, and The Rights of Man is the fullest expression of Paine’s thought. The book is particularly interesting for the contrast that Paine draws between democracy and monarchy as forms of government. Monarchy he views as wholly illegitimate, and as only a strongman asserting his right to rule over others. Democracy, on the other hand, derives its rule from the consent of those that it governs. While not as impactful as Common Sense, Paine still provides an interesting insight into his philosophy in The Rights of Man.
The Responsibility of Intellectuals by Noam Chomsky
While an intriguing prospect for a book from Chomsky, I found this one to be mostly disappointing. Chomsky is one of the most qualified individuals to write a book on the intellectual class and the duties they have to society, given his own place and history in academia. Even so, this short book was mostly lacking in substance without much of a coherent central thesis. Chomsky starts off with interesting perspectives on the role of intellectuals, but doesn’t go do much to build on it, and then goes into the history of intellectuals in helping to sell the Vietnam War to the people. While not necessarily bad, it is still less than I expected from Chomsky.
The Foundation Series by Issac Asimov
While I started the Foundation series before the year began, it wasn’t until 2021 that I finished all of the books in the series. Foundation is one of the most influential fiction book series of all time, and for good reason. It is written exceptionally well, with a unique and gripping premise. In addition, the story never remains stagnant for long, constantly twisting and turning throughout each of the books. I won’t say any more about the series, because your really should read it for yourself. These books are truly some of the best science fiction has to offer, and I cannot recommend them enough.
Socialism by Ludwig von Mises
A tour-de force against the ideology of socialism unlike any other. Even though it was written almost a century ago, it has aged wondrously. I already wrote an entire summary of the book on my blog earlier in the year, so I will keep this review brief. Mises’ intellectual assault on socialism remains unparalleled, and is necessary reading for everyone.
The War of Art by Steven Pressfield
While I am not sure I am totally sold on the main themes and premise of The War of Art, I do think that Pressfield does have an interesting point of view here. Pressifled posits that there is a force within all of us, called “The Resistance”, that inherently tries to prevent us from being productive and accomplishing our goals. It is only through strict discipline and a strong mindset that The Resistance can be continually overcome and allow for us to do what we were made to do. As someone who does a lot of creative work, I found The War of Art to be an interesting if nothing else. While I am doubtful of an actual force living within us that is working its dastardly deeds to wreak havoc on our futures, thinking in these terms does foster a productive mindset. Ultimately, this was probably what Pressfield was looking to accomplish in the first place. Especially for those that struggle with procrastination, give The War of Art a read.
American Creation by Joseph Ellis
The main theme of this book, being the creation of America as we know it through the Revolution and early years, is one that is inherently difficult to communicate clearly. This is because doing so involves covering decades worth of history in a short span of time. In a fairly sort book (~250 pages), Ellis tries to give the historical cliff notes of roughly 45 years’ worth of American history from 1765 to 1810. The end result is a book that lacks a clear conceptual narrative and feels difficult to understand. The fault doesn’t lie with Ellis’ writing, but with his choice of topic. Ultimately, I can’t recommend American Creation, other than if Ellis’ specific focus here is of particular interest to you.
The Quartet by Joseph Ellis
While not an offensively bad book by any means, there are much better books on the creation and writing of the American Constitution and early years of the country. Ellis follows the in the vein of the mainstream histories of the time period, which makes his analysis much less grounded and less interesting. Not much to say about Ellis’ work, as it is a fairly boiler-plate treatment of the time period, and one that provides little intellectual stimulation.
Capital and Interest by Eugen von Bohm-Bawerk
While difficult to fully appreciate today, this was a book that was sorely needed when it was published. In Capital and Interest, Bohm-Bawerk takes up every major theory of interest that had been proposed and proceeded to show why each one of them was wrong. He doesn’t get into his own theory of interest, which he saves for the later volumes of his work, of which this book is only the first. While the idea of intellectually sparring with old and now-antiquated theories of interest might seem uninteresting, it is through Bohm-Bawerk’s critiques that he demonstrates thoroughly to his readers the importance and intricacies of interest. He exposes the flaws in other theories, and in doing so, details all aspects of interest and what it necessary for its existence to be accounted for. While certainly not for everyone, those who study economics should seriously consider giving Capital and Interest a read. Your understanding of interest, as well as your historical understanding of the theories to explain it, will be greatly strengthened.
Theory and History by Ludwig von Mises
Mises is one of the few economists that dedicated a great deal of time and energy to the topic of economic methodology. In the realm of economic academia, method is, at best, an afterthought. Most economists will likely go their entire career without devoting any substantial thought to the subject. In contrast, Theory and History is just one of Mises’ books that he wrote on economic method. As the name would imply, Theory and History involves a bit of a tag-team. Mises is trying to conceptualize and understanding the proper role of theory, as well as the role of history, and the relevance of the two for the study of economics. The treatment he gives of both of these subjects is simultaneously clear and profound. His prose is always intellectual and scholarly, but never overbearingly so. For any economist or someone who wishes to understand economists, Theory and History is in must-read status.
Wealth of Nations by Adam Smith
Wealth of Nations is a very interesting book because it is a lot of things all at once. It is one of the most influential books in history while also being confused and contradictory. It is probably the most important book on economics ever written while also being a book that spawned a legion of economic fallacies, some of which persist on in economics to this day. Almost everyone that has worked in economics after it was written has drawn inspiration from it in some way, from Marx to John-Stuart Mill to Alfred Marshall. Is it a fantastic book? Not really. Is it a bad book? I wouldn’t say so. Ultimately, Wealth of Nations is very unique in a litany of ways and defies much categorization. While mostly a relic of the past and not relevant to modern-day, it is still an interesting read for those who find novelty in the history of economic thought.
Brave New World by Aldous Huxley
First off, I highly recommend that you read this book. Regardless of anything else I say, make sure that you read this book for yourself and take the time to really digest it fully. 1984 by George Orwell is the most famous book ever written on totalitarianism and dystopian governments, but I believe that Orwell has only a partial picture of the nature of totalitarianism in his work. Brave New World helps to fill in some of those gaps. Whereas 1984 focuses mostly on the overbearing oppression that authoritarianism imposes on its people, Brave New World instead focuses on the oppression that people perpetuate upon themselves. Huxley’s writing is fantastic, and the worldbuilding and story are both carried out excellently. If you don’t read any other book on this list, read this one.
Epistemological Problems of Economics by Ludwig von Mises
Another one of Mises’ books on economic methodology, but I found this one to be less compelling than Theory and History. I believe the reason behind this is because Theory and History is a cohesive book, while Epistemological Problems of Economics is a collection of essays. While still a good read for interested in Mises and Austrian methodology, not particularly relevant reading for most. If it sounds interesting to you, give it a whirl.
Thinking in Systems by Donella Meadows
After getting quite a few recommendations to read Thinking in Systems, I finally picked it up and gave it a shot. I found parts of this book to be thoughtful, but large parts of it to be less than satisfactory. Donella’s more theoretical discussions on what systems are and what they do is fine, but almost everywhere where she tries to lay out the particular components of systems and how they work together, I did not find compelling or coherent. It might have just been a me problem, but Thinking in Systems just didn’t deliver on the promise it had. Even so, I would recommend giving it a go if the subject matter seems intriguing to you.
Man, Economy, and State with Power and Market by Murray Rothbard
The best single book on economics ever written.
Individualism and the Economic Order by F.A. Hayek
A collection of essays by Hayek, but does what all good essay collections should do: give you a varied and appetizing taste of the author’s writing. Most of the essays in this book, even if I didn’t fully agree with them, were still edifying and thoughtful regardless. Out of all of Hayek’s books, this one is the most substantive and representative of Hayek as a whole. For anyone interested in Austrian Economics or Hayek specifically, I highly recommend this collection.
The Capitalist and The Entrepreneur by Peter Klein
While I did ultimately enjoy this collection of essays, Klein suffers from a recurring problem in most of them. He has a tendency to go off into inside baseball on a lot of topics within entrepreneurship theory, meaning that he mentions and discusses lots of authors, books, and theories that are relevant within that field of economics, but not so for the reader. If these essays were specifically targeted towards those audiences, that would be perfectly fine, but many of these essays aren’t necessarily structured in that way, and even if they were, it would make little sense to put them in a general essay collection like this book. Even so, I did find Klein’s perspective and writing on entrepreneurship to be informative, and recommend the book to those interested in the field.
The Pure Time Preference Theory of Interest by Jeffrey Herbener
This collection of essays does a very good job of showing and arguing the pure time preference theory of interest as is understood in the Austrian tradition. Herbener’s original essay at the front of the book does a stellar job of relaying the history behind the time preference perspectives within the Austrian school, and the essays that Berbener has included in this collection are excellent as well. As an introduction to this esoteric sub-section of the economics world, Herbener has done an excellent job.
Essays on Capital and Interest by Israel Kirzner
While I was less than a fan of Kirzner’s more Hayekian treatment of the subject of capital, I found the book to be enjoyable nonetheless. Several portions, such as Kirzner’s takedown of the Knight/Clark view of capital, stood out as particularly well-written and adept. I wouldn’t peg this as necessary reading for understanding Austrian Capital Theory in any way, but is still worth a read if you are a fan of Kirzner or want to see a Hayekian treatment of the subject of capital.
Enough Already by Scott Horton
I had been anticipating this book for quite long time, and it did not disappoint. It is the single best book on American Foreign Policy, and a must-read for any U.S. Citizen or anyone who wants to understand how the U.S. got into the international military quagmire it finds itself in now. If you have any apprehensions about the subject being too difficult to follow or understand, Horton writes in plain English and lays everything out in an intuitive and easy-to-follow manner. Highly Recommend Enough Already, as well as anything in general from Scott Horton.
The Rise of Athens by Anthony Everitt
A great history of Greece from the Persian invasions all the way up to the Macedonian period. Everitt does a good job of providing the background necessary to understand all the major players within this period of time, as well as a clear timeline of events. He strikes a great balance between relaying history as it happened and providing a narrative to engage the reader. Overall, a very good history of the time period and it has my recommendation.
Guns, Germs, and Steel by Jared Diamond
The question of why particularly nations and regions of the world are more successful than others is a monumental question, of which they are numerous correct answers that all partially contribute to a whole answer. In Guns, Germs, and Steel, Diamond does a fantastic job of breaking down some of these factors and providing substantive answers to some of history’s macro-level questions. One of the most fascinating books on history that I have ever read, and I recommend it as a read to anyone interested at all in history. Seriously, give this a read.
Karl Marx and the Close of His System by Eugen von Bohm-Bawerk
The best single critique of the corpus of Marxism that exists, and for a specific reason. Bohm-Bawerk doesn’t argue with very detail of Marxism. In fact, he is happy to grant most of what Marx posits as the foundations for his ideology. What Bohm-Bawerk is interested in is showing the internal inconsistencies within Marxism and how, even on its own merits, it ultimately fails as a coherent ideology. While the prose is slightly dated and difficult to digest, it is still the single best book refuting Marxism even to this day.
ABCs of Anarchism by Alexander Berkman
This book serves as a great summation and exposition of the Classical Anarchist ideology. While I found myself in vehement disagreement with the majority of the book, I still found it to be worth the read for that reason alone. As far as the ideology itself that Berkman proposes, it suffers from a chronic lack of economic understanding, which cripples Classical Anarchism at almost every step. For an understanding of Classical Anarchism, this book provides a good overview. For an understanding of the world, look elsewhere.
Fear and Trembling by Soren Kierkegaard
A very unique and enjoyable work from Kierkegaard on the topic of faith. I have always been partial to Kierkegaard and his writings, and Fear and Trembling is no exception. I’m not sure if everyone will get much out of this book, but I found it to be an enjoyable read. If you like Kierkegaard or good philosophical literature, Fear and Trembling is right up your alley.
The Present Age by Soren Kierkegaard
Kierkegaard is less than impressed with modern society, and he is here to let you know it. I’m not sure exactly how I feel about The Present Age, to be quite honest. On one hand, I can see a good deal of truth in the critiques that Kierkegaard makes of the emptiness of modern society. On the other, I feel as if his critiques are too vague to be meaningful, and am skeptical that there was ever a “before-time” where things weren’t this way. I do recommend it through, as Kierkegaard’s critiques have only gotten more relevant as time as gone on, if they were ever relevant in the first place.
Thus Spoke Zarathustra by Friedrich Nietzsche
I am not a fan or follower of Nietzsche by any means, and reading him this year didn’t change that. I don’t find his philosophy or worldview especially persuasive and Nietzsche doesn’t do much to rectify that issue with his writing. Regardless, I find him to be an interesting author and his perspective to be valuable, even if it isn’t fully correct. Thus Spoke Zarathustra has a lot of poetic imagery and metaphorical license, which I found to be more enlightening than other readers might. When all’s said and done, Nietzsche never fails to be interesting, and I suppose that is the best you can ever ask of an author.
Beyond Good and Evil by Friedrich Nietzsche
Much of the same from Thus Spoke Zarathustra, but in a more systematic format and much more straightforward. Essentially everything from above still applies here, although this might be the preferable version of Nietzsche for those that find his constant literary flourishes frustrating.
Cronyism: Liberty and Power in America by Patrick Newman
Although it only released this year, Cronyism: Liberty and Power in America is the definitive history of the United States from the early Post-Constitution years to the 1840s. I already wrote up a full review of the book on my blog, so I won’t repeat myself too much here. For a real and sober history of the early United States, Cronyism is the best book out there.
No Treason: The Constitution of No Authority by Lysander Spooner
While not the first time I’ve read this fantastic work by Spooner, it was a great refresher of a lucid and well-argued attack on government authority and the fallacious commonalities that exist around it. Even though it was written many years ago, it is just as relevant today as when Spooner wrote it. I highly recommend that you give it a read.
Written on the Heart by J. Budziszewski
A work on natural law that provides a solid overview of the thinkers and theories that have ascribed to it over the centuries. While the author is a Christian and provides a Christian outlook on natural law, it isn’t the main focus of the book and can be ignored if the reader wishes. If interested in the subject of the book, it’s a good place to start.
