Thinking, Fast and Slow
by Daniel Kahneman
Written by a renowned psychologist who won the Nobel Prize in Economics, Thinking, Fast and Slow is an engaging book that reveals how people think and make decisions. In addition to being a fun read, the book shows where our intuition can sometimes fail us and what we can do to tap into the slower, more logical brain.
Timeless Books on
Money & Life
The Forgotten Man: A New History of the Great Depression
by Amity Schlaes
Forget what you thought you knew about the Great Depression and consider the possibility that most of what the New Deal did actually hurt more than it helped. The really ironic thing is that this is exactly what my parents – who were actually there – always told me. I just never believed them until now.
The Origin of Financial Crises
by George Cooper
I thought about putting this in the section below, but the topic is extremely relevant to what’s been going on lately and the book is excellent.
The Millionaire Next Door
by Thomas J. Stanley & William D. Danko
This book upends so many misconceptions and stereotypes that it never ceases to amuse and amaze. Never will you think about “Lifestyles of the Rich and Famous” in the same way — because most of the “rich” among us lead very modest lives.
The Wealth of Nations
by Adam Smith
1776 was a very good year. Smith’s tome is timeless, and surprisingly readable for a work that’s almost a quarter of a millennium old. It doesn’t get better than this.
The Seven Laws of Money
by Michael Phillips
I think the original (short) version is even better than the latest edition, but both are good.
The Mind and the Market: Capitalism in Western Thought
by Jerry Z. Muller
Muller does an admirable job of elucidating important thought about how money makes the world we live in different from what came before. Here you’ll find not only Smith, but also Burke, Marx, Weber, Simmel, Schumpeter, Keynes, Hayek, and others. Scholarly but extremely readable.
How to Retire Happy: The 12 Most Important Decisions You Must Make Before You Retire
by Stan Hinden
In this book, a retired financial journalist from The Washington Post wrote about what it was like for him to retire and where he found himself under-prepared. By covering a list of important topics, from whether you are truly ready to retire to planning for serious illnesses, Stan described his learnings from thinking through and experiencing this complex, life changing transition.
Your Money or Your Life
by Joe Dominguez & Vicki Robin
Though the specifics of this work, especially the investment advice, are quite outdated, the core message remains relevant. If your portfolio produces enough wealth to support your lifestyle, then you have achieved financial independence.
On The Wealth of Nations
by P. J. O’Rourke
If you’re not ready to tackle Smith himself, run out and buy this book. It’s both an insightful retelling of its namesake and absolutely hilarious.
The Protestant Ethic and the Spirit of Capitalism
by Max Weber
If you’re ready to start understanding the true philosophical differences between the political right and the political left, Weber is a must.
A Monetary History of the United States, 1867-1960
by Milton Friedman and Anna Jacobson Schwartz
If this doesn’t turn you into a Hamiltonian, nothing will. Plus, it’s a fitting backdrop to today’s news, so much of which revolves around money (currency) and the role that the Federal government, especially the Federal Reserve, plays in it.
The Philosophy of Money
by Georg Simmel (Philisophie des Geldes)
If you’re serious about this, get Tom Bottomore and David Frisby’s translation. Simmel is an undiscovered gem. If I had time to do a Ph. D, he’d be my topic.