Learn more about economics and how it affects your finances with our picks for the best economics books. The updated version includes a foreword by Bruce Caldwell, a Hayek scholar, who adds clarification and modern takes on Hayek’s works, which have often been misinterpreted. Hayek, a recipient of the Medal of Freedom and the Nobel Memorial Prize in Economics, taught at the University of London, the University of Chicago, and the University of Freiburg.

Why Trust The Balance?

Rachel Morgan Cautero has a master’s degree in journalism from New York University and more than a decade of journalism experience, most in the personal finance sector. Most recently, she was the managing editor of DailyWorth, a finance-based media destination for women. She’s been published in SmartAsset, The Balance, The Atlantic, Life & Money, Parents, WealthRocket, and Yahoo Finance. These titles were selected based on author credentials, reader reviews, and any relevant awards.