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Economic Myths & Fallacies

  • What is Seen and What is Not Seen by Frederic Bastiat
  • The Law by Frederic Bastiat
  • Economics in One Lesson by Henry Hazlitt
  • Economic Sophisms by Frederic Bastiat
  • What Everyone Should Know about Economics & Prosperity? by James Gwartney
  • Adventures of Jonathan Gullible by Ken Schoolland
  • The Other Path by Hernando De Soto
  • Road to Serfdom by FA Hayek
  • Fatal Conceit by FA Hayek
  • Sustainable Development: Promoting Progress or Perpetuating Poverty? By Julian Morris
  • Ultimate Resource 2 by Julian Simon
  • State of Humanityby Julian Simon
  • Elephants and Ivory: Lessons from the Trade Ban (Institute of Economic Affairs)
  • Collapse of A Dream by Rayasam Prasad

Economic History

  • Making of Modern Economics by Mark Skousen


  • Creative Destruction by Tyler Cowen
  • In Defense of Globalisation by Jagdish Bhagwati
  • In Defense of Capitalism by Johan Norberg
  • India Unbound by Gurcharan Das
  • Lexus and the Olive Tree by Thomas Freidman

Philosophy of Freedom

  • The Libertarian Reader by David Boaz
  • Free to Choose, A Personal Statement By Milton & Rose Friedman
  • Capitalism and Freedom by Milton Friedman
  • Fountainhead by Ayn Rand
  • Atlas Shrugged by Ayn Rand
  • Individualism and Economic Order by FA Hayek
  • Anything That’s Peaceful by Leonard Reed
  • An Inquiry into the Nature & Causes of the Wealth of Nations by Adam Smith
  • A Theory of Moral Sentiments by Adam Smith

Economics Made Fun

  • Armchair Economist by Steven Landsburg
  • Fair Play by Steven Landsburg
  • Hidden Order by David Friedman
  • An Invisible Heart: An Economic Romance by Russell Roberts
  • Choice: A fable of Free Trade & Protectionism by Russell Roberts

Advanced Readings

  • Skeptical Environmentalist Bjorn Lomborg
  • 15 Great Austrian Economists by Randall Holcombe
  • Constitution of Libertyby FA Hayek
  • Socialism by FA Hayek
  • Government Failure: A Primer on Public Choice by Gordon Tullock
  • Anarchy, State & Utopia by Robert Nozick
  • For a New Liberty, the Libertarian Manifesto by Murray N Rothbard
  • Foundations of the Market-Price System by Milton M Shapiro
  • Machinery of Freedom David Friedman

Literature on liberalism

Timothy Garton Ash, Free World: Why a Crisis of the West Reveals the Opportunity of Our Time, London: Penguin Books, 2005 (with a new postscript; first published by Allen Lane in 2004).
Nigel Ashford & Stephen Davies, A Dictionary of Conservative and Libertarian Thought, London: Routledge, 1991.
Frederic Bastiat, The Law [first published in 1850, Irvington-on-Hudson, NY: Foundation for Economic Education, 1950; also: New Delhi: The Liberty Institute, 1998 (translation from the French original by Dean Russell, Foundation for Economic Education)].
William J. Baumol, The Free-Market Innovation Machine – Analysing the Growth Miracle of Capitalism, Princeton: Princeton University Press, 2002.
Suzanne Berger, How We Compete – What companies around the world are doing to make it in today’s economy, New York, Currency/Doubleday, 2005.Isaiah Berlin, Four Essays on Liberty, Oxford: Oxford University Press, 1969.
Tom Bethell, The Noblest Triumph – Propery and Prosperity Through the Ages, New York: St Martin’s Press, 1998.
Jagdish Bhagwati, Free Trade Today, Princeton: Princeton University Press, 2002.
Jagdish Bhagwati, In Defense of Globalization, New York: Oxford University Press, 2004.
David Boaz (ed.), The Libertarian Reader, New York: The Free Press, 1997.
David Boaz, Libertarianism - A Primer, New York: The Free Press, 1997.
Noberto Bobbio, The Age of Rights, Cambridge: Polity Press, 1996.
Noberto Bobbio, Liberalism and Democracy, London: Verso, 1990.
Duncan Brack & Ed Randall (editors), Dictionary of Liberal Thought, London: Politico’s Publishing, 2007.
Ernest K. Bramsted & K.J. Melhuish, Western Liberalism – A History in Documents from Locke to Croce, London: Longman, Inc., 1978.
James M. Buchanan, Why I, Too, Am Not a Conservative, Cheltenham: Edward Elgar, 2005.
Commanding Heights: The Battle for the World Economy (based on the book with the same title, see below), set of 3 DVDs, Boston: Heights Productions, 2003.
Detmar Doering (ed.), Readings in Liberalism, London: Adam Smith Institute, 1995.
David Friedman, The Machinery of Freedom, La Salle, Ill.: Open Court Publishing Company, 1989.
Milton Friedman, Capitalism and Freedom, Chicago: University of Chicago Press, 1962 (newest edition).
Milton & Rose Friedman, Free to Choose, San Diego: Harcourt Brace & Company, 1990.
Ernest Gellner, Conditions of Liberty, London: Hamish Hamilton, 1995.
Tim Gray, Freedom, Atlantic Highlands, NJ: Humanities Press International, Inc., 1991.
Friedrich A Hayek, The Constitution of Liberty, Chicago: The University of Chicago Press, 1960.
Friedrich A Hayek, The Road to Serfdom, London: Routledge, 1944.
David Henderson, The Changing Fortunes of Economic Liberalism: Yesterday, Today and Tomorrow, London: Institute of Economic Affairs, 1998.
Robert Higgs, Against Leviathan: Government Power and a Free Society, Oakland, CA: The Independent Institute 2004.
Robert Higgs & Carl P. Close (editors), The Challenge of Liberty – Classical Liberalism Today, Oakland, CA: The Independent Institute 2006.
Stephen Holmes, The Anatomy of Antiliberalism. Cambridge, Ma.: Harvard University Press, 1996.
Wilhelm von Humboldt, The Limits of State Action (ed. by J.W. Burrow), Indianapolis: Liberty Find, Inc., 1993.
Douglas A. Irwin, Free Trade under Fire, Princeton: Princeton University Press, 2002.
Anthony de Jasay, Choice, Contract, Consent: A Restatement of Liberalism, London: Institute of Economic Affairs, 1991.
Anthony de Jasay, Social Contract, Free Ride - A Study of the Public Goods Problem, Oxford: Oxford University Press, 1989.
Peter Jones, Rights, London: The Macmillan Press Ltd., 1994.
Wolfgang Kasper, Economic Freedom and Development – An Essay About Property Rights, Competition, and Prosperity, New Delhi: Centre for Civil Society, 2002.
Isaac Kramick (ed.), The Portable Enlightenment Reader, New York: Penguin Books USA Inc., 1995.
Deepak Lal, Reviving the Invisible Hand: The Case for Classical Liberalism in the Twenty-First Century, Princeton: Princeton University Press, 2006.
Tomas Larsson, The Race to the Top – The Real Story of Globalization, Washington: CATO Institute, 2001.
Stefan Melnik, Freedom, Prosperity and the Struggle for Democracy. Potsdam: Liberales Institut, 2nd ed. 2005 (Ideas on Liberty 2).
José Guilherme Merquior, Liberalism Old and New, Boston: Twain Publishers, 1991.
John Stuart Mill, On Liberty [first published in 1859; reprint, eg, in Maurice Cowling (ed.), Selected Writings of John Stuart Mill, New York: The New American Library, 1968, pp. 121-229]
Ludwig von Mises, Human Action, Yale: Yale University Press, 3rd revised edition 1966 (Paperback: San Francisco: Fox & Wilkes).
Ludwig von Mises, Liberalism in the Classical Tradition, 3rd edition, San Francisco: The Foundation for Economic Education/Cobden Press, 1985 (or newer edition)
Johan Norberg, In Defence of Global Capitalism, Stockholm: TIMBRO, 2001.
Robert Nozick, Anarchy, State and Utopia, New York: Basic Books, 1974.
Richard Pipes, Property and Freedom, New York: Alfred A Knopf, 1999.
Karl R. Popper, The Open and Society and Its Enemies, London: Routledge & Kegan Paul, newest edition.
Hans Reiss (ed.), Kant's Political Writings, Cambridge: Cambridge University Press, newest edition.
Murray N. Rothbard, For a New Liberty: The Libertarian Manifesto, rev. ed. 1978, San Francisco: Fox & Wilkes, 1994 (reprint).
Amartya Sen, Development as Freedom, New York: Alfred A. Knopf, 1999.
Arthur Seldon, The Dilemma of Democracy - the Political Economics of Over-Government, London: Institute of Economic Affairs, 1998.
Edward Shils, The Virtue of Civility, Indianapolis, Liberty Fund, 1997 [collection of essays edited by Steven Grosby]
Adam Smith, An Inquiry in the Nature and Causes of the Wealth of Nations, 2 volumes, Indianapolis: Liberty Press, 1981.
Hernando de Soto, The Mystery of Capital – Why Capitalism Triumphs in the West and Fails Everywhere Else, New York: Basic Books, 2000.
Martin Wolf, Why Globalization Works, New Haven: Yale University Press, 2004.
Daniel Yergin & Joseph Stanislaw, Commanding Heights: The Battle for the World Economy, New York: Simon & Schuster, 1998.

© Stefan Melnik