My Narrative Guide to the Global Economy
Most academic writing is boring. That's a major reason this website exists - to give you easy access to the frontier of academic knowledge without needing the (often unnecessary) background or jargon.
But sometimes you might still be after some more depth or some more context, some characters and heartbreak that give you a better understanding of the global political economy.
Below is a list of books that I've found engaging and informative when I'm craving political economy without needing to look at a regression model or worry about selection effects. In other words, they are fun and some even make decent bedtime reading.
I've restricted myself to a basically a book per topic just to keep it manageable. I place equal weight on ideas and writing quality. I've tried to pair books that give you alternate/complimentary views. You can think about this as a narrative guide to the global economy.
To be clear, the diversity of this list sucks and I think that is both a reflection on the non-fiction industry and therefore inevitably on me.
The Pains of Globalization
- Inequality: The Haves and Have-Nots by Branko Milanovic; Trade Wars are Class Wars by Matt Klein and Michael Pettis
- Immigration: My Fourth Time We Drowned by Sally Hayden; This is London by Ben Judah
- Tax Havens: Treasure Islands by Nicholas Shaxson; Moneyland by Oliver Bullough
- Tax Evasion: The Hidden Code of Capital by Katharina Pistor; The Triumph of Injustice by Emmanuel Saez and Gabriel Zucman
- Trade: Six Faces of Globalization by Anthea Roberts and Nicolas Lamp; Open by Kimberly Clausing
Geopolitics
- Weaponization of The Dollar: Treasury's War by Juan Zarate
- The Consequences of China's Rise: Dance of the Trillions by David Lubin
- Technological Conflict: Underground Empire by Henry Farrell and Abraham Newman
- Global Cooperation: Governing the World by Mark Mazower
- Global Regulation: The Brussels Effect by Anu Bradford
- Sanctions: The Art of Sanctions by Richard Nephew
- Derisking: Backfire by Agathe Demaris
- Investing in a time of fragmentation: Geopolitical Alpha by Marko Papic
Crises
- The East Asian Financial Crisis: The Chastening by Paul Blustein
- The Tech Bubble: Dot.Con by John Cassidy
- The 2008 Financial Crisis: Christ so many. I will restrict to two. Crashed by Adam Tooze; The Shifts and the Shocks by Martin Wolf
- COVID: The Premonition by Michael Lewis
- Supply-chain breakdowns: How the World Ran Out of Everything by Peter Goodman
- China's never-starting-never-ending Crisis: The Bubble that Never Pops by Thomas Orlik
- Crisis Response: Austerity by Mark Blyth
Developed Markets
- The American Economy: Winner-Take-All Politics by Jacob Hacker and Paul Pearson; The Great Reversal by Thomas Phillipon
- European Integration: Europe's Orphan by Martin Sandbu; Fractured Continent by William Drozdiak
- The UK: Rentier Capitalism by Brett Christophers; Butler to the World by Oliver Bullough
- Japan: The Holy Grail of Macroeconomics by Richard Koo; The Business Reinvention of Japan by Ulrike Schaede
- South Korea: How Asia Works by Joe Studwell; Samsung Rising by Geoffrey Cain
Emerging Markets
- EM Macro Cycles: Uprising by George Magnus
- Argentina: And the Money Kept Rolling In (And Out) by Paul Blustein
- China: Red Capitalism by Carl Walter and Fraser Howie
- India: An Uncertain Glory by Jean Dreze and Sen Amartya;
- Russia: Putinomics by Chris Miller
- South Africa: Until We Have Won Our Liberty by Evan Lieberman
- Saudi Arabia: Blood and Oil by Bradley Hope and Justin Scheck
Finance
- Hedge Funds: More Money Than God by Sebastian Mallaby
- Private Equity: Barbarians at the Gate by Bryan Burrough and John Helyar
- Asset Managers: Our Lives in their Portfolios by Brett Christophers
- Fraud: The Smartest Guys in the Room by Bethany McLean and Peter Elkind.
- Insider Trading: Black Edge by Sheelah Kolhatkar
- Why bankers never pay their due: The Chickenshit Club by Jesse Eisinger
- Why we have global finance at all: Capital Rules by Rawi Abdelal. I'm cheating. This is an academic book but it is lucid with a tragic narrative.
Energy/Commodities
- Oil: Still can't beat The Prize by Daniel Yergin.
- Copper: Part 4 of Material World by Ed Conway
- Cobalt: Cobalt Red by Siddharth Kara
- Lithium: The Global Race for Battery Dominance by Lukasz Bednarski
- Wheat: Merchants of Grain by Dan Morgan
- Commodity Traders: The World For Sale by Javier Blas and Jack Farchy
- Commodity Exchanges: The Futures by Emily Lambert
Tech
- The Birth of Silicon Valley: The Code by Margaret O'Mara
- Innovation Systems: Doing Capitalism in the Innovation Economy by Bill Janeway
- Semiconductors: Chip War by Chris Miller
- Algorithms: Weapons of Math Destruction by Cathy O'Neil
- Privacy: Privacy is Power by Carissa Véliz
- Surveillance: Click Here to Kill Everybody by Bruce Schneier
- Venture Capital: The Power Law by Sebastian Mallaby
- Internet Origins: Who Controls the Internet by Jack Goldsmith and Tim Wu
- The Ads Economy: Subprime Attention Crisis by Tim Hwang
- Possibilities of the Internet: Internet for the People by Ben Tarnoff
Oligarchies
- The Billionaire Class: Plutocrats by Chrystia Freeland
- Brazil: Brazillionaires by Alex Cuadros
- India: Billionaire Raj by James Crabtree
- China: China's Crony Capitalism by Minxin Pei
- Russia: Putin's People by Catherine Belton
- America: The Captured Economy by Brink Lindsey and Steven Teles
Firms
There is a mountain of books that promise you the inside story of the world's most consequential companies. Some are basically just a reporter's news stories tacked together, but the best give you intimate details coupled with a snapshot of the company, the industry, and its stakes for the global economy. Below are a selection of the ones I've enjoyed/learned the most from.- Purdue Pharma: Empire of Pain by Patrick Radden Keefe
- Nike: Shoe Dog by Phil Knight
- 1MDB: Billion Dollar Whale by Tom Wright and Bradley Hope
- ExxonMobile: Private Empire by Steve Coll
- Tencent: Influence Empire by Lulu Yilun Chen
- X: Hatching Twitter by Nick Bilton