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Our Favorite Summer Books: Beach Reading for Economists
by Terry Holzheimer
Although many may wonder what exactly economists would choose for their summer beach reading, the average person would likely conclude that it would be both difficult to read and too heavy to carry. Yet there are some highly accessible and interesting books we economists toted along this summer - many of which are enjoying best selling status.
Along with seemingly everyone else, we took some Malcolm Gladwell. His books are quick reads with good stories; they each make relatively simple points and are fun reading.
The Tipping Point is perhaps the one most directly related to economics, with its explanation of how a relatively small number of opinion leaders can affect all aspects of consumer demand. Outliers endeavors to explain the success of such figures as Bill Gates and the Beatles (practice, practice, practice). Blink demonstrates the power of using a small amount of information to reach sound and consistent conclusions. All are quick reads that are well worth the time.
We also took a couple of all time favorites. In Freakonomics, co-authors Levitt and Dubner apply the principles of economic analysis to a variety of societal issues, in some cases eliciting some unexpected controversy. Economists love the idea of using conventional economic methods to derive unconventional results. This is truly a great read for all. In a similar vein, Predictably Irrational by Dan Ariely demonstrates how the seemingly irrational elements of everyday life actually make sense. Our choices don’t always follow the precise behavior patterns predicted by economic theory, but they are far from random – another thoughtful read.
I can also recommend a couple of very good books on the built environment. Last Harvest: From Cornfield to New Town: Real Estate Development from George Washington to the Builders of the Twenty-First Century, and Why We Live in Houses Anyway by Witold Rybczynski chronicles a cornfield’s last harvest; in this instance, the last crop is a subdivision. The book provides a story on what it takes to go from the development approval process through the construction of a new urbanist community outside of Philadelphia.
Who says "the Arlington Way" is too burdensome?
I also like an older book on building a house, simply called House by Tracy Kidder. House documents the process of designing and building a home in rural Massachusetts, with lessons that apply nearly everywhere.
These books are perfect for the beach, a cruise or a hammock in the back yard. Try at least one of them this summer.
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