/lit/ - Literature

>>16971009
Wealth of nations by Adam Smith is the ultimate entry level book into economics

>>16971024
>entry level
If you like reading about the price of corn in 17th century Europe, yeah sure. It is not entry level, and quite frankly isn’t really an absolutely necessary read—the material is better understood in secondary texts.

>>16971037
You are correct, it isn't necessary, but he does hit a very broad spectrum of economic principles without being a textbook

>>16971037
ok so what should i read then?

>>16971024
he said finances, not economics

>>16971051
...shit...

Every single "economic principle" Smith wrote about was debunked; some by Adam Smith himself.
This is like reading a book on witchcraft as a foundation for electrical engineering.

>>16971106
calling it witchcraft is disingenuous. Smith is more akin to Freud in that regard. no longer relevant but respected and storied for a reason.

whereas Marx is more like Darwin. the correctness of his theory (LTV) endures to this day.

>>16971082
> What should I read if I want to improve my knowledge of economics?

>>16971127
>the correctness of his theory (LTV) endures to this day.

What did you say?

>>16971127
>whereas Marx is more like Darwin. the correctness of his theory (LTV) endures to this day.
*blocks your path*

>>16971009
Rich Dad Poor Dad
/thread

>>16971009
Just so you know, no one knows exactly what is happening. People working in finance just do a very limited set of actions 16 hours a day and they don't know either beyond their (limited) scope.

>>16971201
So it's kind of a waste of time? I don't want to start with Smith or Marx, i wanna go waaaaaaaay back, go to the first recorded works about economics and finance, but i haven't found anything really interesting

>>16971156
He got BTFO by Hilferding

>>16971127

It is not disingenuous. Wrong is wrong. I credit the bullshitters and the apologists for exploitation and extortion with nothing.
Smith and his "Plato" Friedman should be expunged from human knowledge.

>>16971009
just buy VTI
line always goes up

>>16971242
>He got BTFO by Hilferding

>>16971024
No it isn't. Read the first chapter and then you can ditch it

Read the Austrian.

Austrian Economics is the only relevant school in 2020.

>>16971127
>the correctness of his theory (LTV) endures to this day.
There is nothing correct about LTV, please kill yourself you retarded leftist.

>>16971127


LTV was displaced over a hundred years ago when they figured out inputs.

>>16971009
Anon there's a difference between finance and economics and I think you have the to mixed up. Economics tend to be a lot more philosophical than finance, usually the people majoring in finance are the type to want to slave away to corporate america in some FO role like Investment Banking, Equity Research, Sales & Trading etc. and usually attend business schools like Sloan, Stern, Booth, HBS, Wharton, Kellogg, Ross etc. the students tend to be extremely bright and competitive. and If you want to learn about finance or something like value investing then I suggest you check out Aswath Damodarans texts, he's a professor at NYU Stern School of Business. Whereas if you want to learn economics than you'd have to study several different schools of thought for example the Austrian, Marxist, Keynesian, Post-Keynesian, Neo Classical, Chicago, Anarcho-Capitalist etc. and the founders of these schools tend to be philosophical nerds, whereas finance nerds can tell you the health of a certain company by looking at their financials and coming up with ratios or using certain equations to estimate the true price of a share or whatever. Hope this helps

FOR THE ECONOMY! threads are better than any book.