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Comes This Query…

… from a senior economics major (who prefers to remain anonymous) at the University of Nebraska:

If I read one book and one book only to make me to be the best academic economist that I will possibly be … what book do you recommend?

The answer is easy: Armen Alchian‘s and William Allen’s University Economics.


Well, this answer is relatively easy: If the goal is to master economics, then reading, pondering, studying, and then re-reading, re-pondering, and re-studying – absorbing as deeply as possible all the wisdom-enabling brilliance that runs throughout – University Economics is the way to go.  But if the goal instead is to become a modern academic superstar in a ‘top’ Econ Department, then I have no idea what to suggest – save to warn “Don’t read Alchian & Allen, because such wisdom is anathema to most modern ‘economists.’  Possessing such wisdom will, indeed, only thwart rather than assist your effort to be a Major Modern Superstar Economist.”