The foundation for all modern economic thought and political economy, The Wealth of Nations is the magnum opus of Scottish economist Adam Smith, who introduces the world to the very idea of economics and capitalism in the modern sense of the words.

First published in 1936, Keynes’ ideas had evolved during the difficulties following World War 1 in Europe, and the US crash and the Depression of the 1920s-'30s and the misery of mass unemployment. He deplored the situation where a few individuals or companies stored massive wealth while vast numbers experienced poverty and insecurity (his alarm bells ring today!) and sought to promote initiatives where governments could intervene with social projects to keep money fluctuating.

Milton Friedman and his wife, Rose, teamed up to write this most convincing and readable guide, which illustrates the crucial link between Adam Smith's capitalism and the free society. They show how freedom has been eroded and prosperity undermined through the rapid growth of governmental agencies, laws, and regulations.

Human Action is the most important book on political economy you will ever own. It was (and remains) the most comprehensive, systematic, forthright, and powerful defense of the economics of liberty ever written. This is the Scholar's Edition: accept no substitute. You will treasure this volume. The Scholar's Edition is the original, unaltered treatise (originally published in 1949) that shaped a generation of Austrians and made possible the intellectual movement that is leading the global charge for free markets.

To understand world politics, you need to understand how states think. Are states rational? Much of international relations theory assumes that they are. But many scholars believe that political leaders rarely act rationally. The issue is crucial for both the study and practice of international politics. John J. Mearsheimer and Sebastian Rosato argue that rational decisions in international politics rest on credible theories about how the world works and emerge from deliberative decision‑making processes.

What are the grand dynamics that drive the accumulation and distribution of capital? Questions about the long-term evolution of inequality, the concentration of wealth, and the prospects for economic growth lie at the heart of political economy. But satisfactory answers have been hard to find for lack of adequate data and clear guiding theories.

First published in 1859, John Stuart Mill's On Liberty is an exhaustive exploration of social and civic liberty, its limits, and its consequences. Mill's work is a classic of political liberalism that contains a rational justification of the freedom of the individual in opposition to the claims of the state.

The front cover of the second edition of Language, Truth and Logic carried this statement in capital letters: ‘THE CLASSIC TEXT WHICH FOUNDED LOGICAL POSITIVISM - AND MODERN BRITISH PHILOSOPHY.’ It was a bold statement, but the book, first published in 1936 when A. J. Ayer was just 25 and a lecturer on philosophy at Christ Church, Oxford, drew unstinting praise from leading figures in the field, including Bertrand Russell.

Malthus predicted a grim future with geometrical population growth, versus food production that increases only arithmetically. He claimed that this would result in famine and starvation unless births were controlled. It is called the Malthusian catastrophe, in which humans would disregard the limits of natural resources and the world would be plagued by famine and disease.

From the perspective of an unbeliever, Fear and Trembling explores the paradox of faith, the nature of Christianity, and the complexity of human emotion. Kierkegaard examines the biblical story of Abraham, who was instructed to sacrifice his son Isaac, and forces us to consider Abraham's state of mind. What drove Abraham, and what made him carry out such an absurd and extreme request from God? Kierkegaard argues that Abraham's agreement to sacrifice Isaac, and his suspension of reason, elevated him to the highest level of faith.

The Consolation of Philosophy is one of the key works in the rich tradition of Western philosophy, partly because of the circumstances in which it was written. Anicius Manlius Severinus Boethius (c480-c524) was of aristocratic Roman birth and became consul and then master of offices at Ravenna, one of the highest posts under the Ostrogothic Roman ruler Theodoric. But Boethius was unjustly charged with treason in 524, and this led to house arrest, then torture and execution.

No skill is more important in today's world than being able to think about, understand, and act on information in an effective and responsible way. What's more, at no point in human history have we had access to so much information, with such relative ease, as we do in the 21st century. But because misinformation out there has increased as well, critical thinking is more important than ever. These 24 rewarding lectures equip you with the knowledge and techniques you need to become a savvier, sharper critical thinker in your professional and personal life.

The Economic Consequences of the Peace (1919) was one of the most important documents to come out of World War I – specifically the period of the Armistice and the subsequent settlement negotiations. And, a century on, it remains of particular relevance to our times – an uncompromising and forthright analysis of how international diplomacy can be suffused by personalities, prejudices, personal ambition and outright, uncontrolled feelings of revenge.

A million-copy seller, Henry Hazlitt’s Economics in One Lesson is a classic economic primer. But it is also much more, having become a fundamental influence on modern “libertarian” economics of the type espoused by Ron Paul and others. Called by H. L. Mencken “one of the few economists in history who could really write,” Henry Hazlitt achieved lasting fame for this brilliant but concise work.

Throughout the twentieth century, The Protestant Ethic and the Spirit of Capitalism was regarded as an important sociological and economic text, continuing into the twenty-first century, when extreme capitalism has continued to come under fire. Weber's work provided a history, from where the profit motive could be ethically justified. Max Weber combined his interests in sociology, political economy and history to give perspective to his analysis. Concentrating principally on the experience of the West, he returned to the time when religion, its concepts and practice, dominated society.

The foundation for all modern economic thought and political economy, The Wealth of Nations is the magnum opus of Scottish economist Adam Smith, who introduces the world to the very idea of economics and capitalism in the modern sense of the words.

"Wage-Labor and Capital" is an 1847 essay on economics by Karl Marx, which was first published in the Neue Rheinische Zeitung two years later. This essay has been widely acclaimed as the precursor to Marx’s important treatise, Das Kapital.

While millions face hunger, malnutrition, and starvation, the world's population is increasing by over 225,000 people per day, 80 million per year. In many countries, supplies of food and water are inadequate to support the population, so the world falls deeper and deeper into what economists call the "Malthusian trap". Here, Malthus examines the tendency of human numbers to outstrip their resources, and argues that poverty, disease, and starvation are necessary to keep societies from moving beyond their means of subsistence.

In most accounts of the origins of money, we are offered pleasant tales in which it arises to the mutual benefit of all parties as a result of barter. In this groundbreaking study David McNally reveals the true story of money's origins and development as one of violence and human bondage. Money's emergence and its transformation are shown to be intimately connected to the buying and selling of slaves and the waging of war.

The history and evolution of land ownership is a fascinating chronicle in the history of civilization, offering unexpected insights about how various forms of democracy and capitalism developed, as well as a revealing analysis of a future where the Earth must sustain nine billion lives. Seen through the eyes of remarkable individuals - Chinese emperors; German peasants; the 17th century English surveyor William Petty, who first saw the connection between private property and free-market capitalism.

The Economic Consequences of the Peace (1919) was one of the most important documents to come out of World War I – specifically the period of the Armistice and the subsequent settlement negotiations. And, a century on, it remains of particular relevance to our times – an uncompromising and forthright analysis of how international diplomacy can be suffused by personalities, prejudices, personal ambition and outright, uncontrolled feelings of revenge.

Milton Friedman and his wife, Rose, teamed up to write this most convincing and readable guide, which illustrates the crucial link between Adam Smith's capitalism and the free society. They show how freedom has been eroded and prosperity undermined through the rapid growth of governmental agencies, laws, and regulations.

In The Victory of Reason, Rodney Stark advances a revolutionary, controversial, and long overdue idea: that Christianity and its related institutions are, in fact, directly responsible for the most significant intellectual, political, scientific, and economic breakthroughs of the past millennium. In Stark's view, what has propelled the West is not the tension between secular and non-secular society, nor the pitting of science and the humanities against religious belief. Christian theology, Stark asserts, is the very font of reason.

In The Conquest of Bread, first published in 1892, Kropotkin set out his ideas on how his heightened idealism could work. It was all the more extraordinary because he was born into an aristocratic land-owning family - with some 1,200 male serfs - though from his student years his liberal views and his fixation on the need for social change saw him take a revolutionary path. This led rapidly to decades of exile. It is a passionate, even a fierce polemic for dramatic social change.

Originally written in French, The Conquest of Bread first appeared as a series of articles in the anarchist journal Le Révolté. It was first published in Paris with a preface by Élisée Reclus, who also suggested the title. Between 1892 and 1894, it was serialized in part in the London journal Freedom, of which Kropotkin was a co-founder. In the work, Kropotkin points out what he considers to be the defects of the economic systems of feudalism and capitalism and why he believes they thrive on and maintain poverty and scarcity.

Guyanese intellectual Walter Rodney emerged as one of the leading thinkers and activists of the anticolonial revolution. In 1980, shortly after founding of the Working People's Alliance in Guyana, the 38-year-old Rodney would be assassinated. In his magnum opus, Rodney incisively argues that grasping "the great divergence" between the West and the rest can only be explained as the exploitation of the latter by the former. This meticulously researched analysis of the repercussions of European colonialism in Africa remains an indispensable study for grasping global inequality today.

During the 19th century, the United States entered the ranks of the world's most advanced and dynamic economies. At the same time, the nation sustained an expansive and brutal system of human bondage. This was no mere coincidence. Slavery's Capitalism argues for slavery's centrality to the emergence of American capitalism in the decades between the Revolution and the Civil War.

What kind of mischief can result from misunderstanding the monetary system? The work of 2 obscure Scottish chemists destroyed the presidential prospects of William Jennings Bryan, as well as Franklin D. Roosevelt's decision to appease a few senators from the American West who helped communism triumph in China, are just 2 such mishaps cited in this important work by Nobel Prize-winning economist Milton Friedman. This accessible work also provides an in-depth discussion on the creation of value.

When Money Dies is the classic history of what happens when a nations currency depreciates beyond recovery. In 1923, with its currency effectively worthless (the exchange rate in December of that year was one dollar to 4,200,000,000,000 marks), the German republic was all but reduced to a barter economy. Expensive cigars, artworks, and jewels were routinely exchanged for staples such as bread; a cinema ticket could be bought for a lump of coal; and a bottle of paraffin for a silk shirt....

Economics drives the modern world and shapes our lives, but few of us feel we have time to engage with the breadth of ideas in the subject. 50 Economics Classics is the smart person's guide to two centuries of discussion of finance, capitalism, and the global economy. From Adam Smith's Wealth of Nations to Thomas Piketty's best-seller Capital in the Twenty-First Century, here are the great books and seminal ideas, clarified and illuminated for all.

First published in 1936, Keynes’ ideas had evolved during the difficulties following World War 1 in Europe, and the US crash and the Depression of the 1920s-'30s and the misery of mass unemployment. He deplored the situation where a few individuals or companies stored massive wealth while vast numbers experienced poverty and insecurity (his alarm bells ring today!) and sought to promote initiatives where governments could intervene with social projects to keep money fluctuating.

The Theory of Moral Sentiments (1759) was the first major text by Adam Smith who, seven years later, was to publish what was to become one of the major economic classics, The Wealth of Nations (1776). However, Smith regarded The Theory of Moral Sentiments as his most important work because in it he identified the profound human instinct to act not necessarily in self-interest but through, as he phrased it, a ‘mutual sympathy of sentiments’.

The Russian Revolution of 1917 was one of the most cataclysmic events in world history, profoundly shaping politics, international relations, social patterns, economics and science in the century that followed. It created long-lasting aftershocks which travelled far beyond its geographical borders. How did it happen? What were the sequence of events that led, following the shocking upheaval of the old Romanov order, to a fierce and violent rivalry between a variety of revolutionary factions and the ultimate victory of the Bolsheviks?

While millions face hunger, malnutrition, and starvation, the world's population is increasing by over 225,000 people per day, 80 million per year. In many countries, supplies of food and water are inadequate to support the population, so the world falls deeper and deeper into what economists call the "Malthusian trap". Here, Malthus examines the tendency of human numbers to outstrip their resources, and argues that poverty, disease, and starvation are necessary to keep societies from moving beyond their means of subsistence.

John Locke and his works - particularly An Essay Concerning Human Understanding - are regularly and rightly presented as foundations for the Age of Enlightenment. His primary epistemological message - that the mind at birth is a blank sheet waiting to be filled by the experiences of the senses - complemented his primary political message: that human beings are free and equal and have the right to envision, create and direct the governments that rule them and the societies within which they live.

'The two foes of human happiness are pain and boredom.' Arthur Schopenhauer (1788-1860) was one of the most influential philosophers of the 19th century because his humanistic, atheistic, if pessimistic views chimed with a new secularism that was emerging from a Western society dominated by religion. Despite his rather forbidding image (and a few outdated views), he is one of the most approachable German philosophers, and this is certainly evident in these two key works, The Wisdom of Life and Counsels and Maxims.

Immanuel Kant’s Critique of Pure Reason can lay claim to being the most important single work of modern philosophy, a work whose methodology, if not necessarily always its conclusions, has had a profound influence on almost all subsequent philosophical discourse. In this work Kant addresses, in a groundbreaking elucidation of the nature of reason, the age-old question of philosophy: “How do we know what we know?” and the limits of what it is that we can know with certainty.

The rise of Rome is one of the great stories of world history and fortunately we have a reliable and at times an eyewitness account, from the Greek historian Polybius of Megalopolis. Polybius reports on the main confrontations with the authority of a man who was present at many events and also visited historic sites of importance to ensure his accounts of the past were accurate.

John Locke (1632-1704) was a product of his troubled times: he lived through the English Civil War, the Interregnum, the Restoration, Monmouth’s Rebellion, the Bloody Assizes and the Glorious Revolution. His empirical thinking was very much directed at finding rational solutions to the root causes of those troubles.

Perhaps one of the most revolutionary works of philosophy ever presented, The Phenomenology of Spirit is Hegel's 1807 work that is in numerous ways extraordinary. A myriad of topics are discussed, and explained in such a harmoniously complex way that the method has been termed Hegelian dialectic. Ultimately, the work as a whole is a remarkable study of the mind's growth from its direct awareness to scientific philosophy, proving to be a difficult yet highly influential and enduring work.