Quote from: Hydrogen on July 10, 2018, 03:50:41 AM

Quote from: opg777 on July 09, 2018, 10:16:37 PM

1. Daron Acemoglu and James Robinson. «Why Nations Fail»
2. Ha-Joon Chang. «Economics: The Users Guide»
3. N. Gregory Mankiw. «Principles of Economics»
4. Robert Pindyck, Daniel Rubinfeld. «Microeconomics»
5. Olivier Blanchard. «Macroeconomics»
6. "Sheep in wolfskins", Walter Block
7. "Capital", Karl Marx
8. "Economics of everything", Alexander Auzan

For crypto exchange trading, I think common book recommendations would be things like.

Beat the Dealer by Ed Thorp
The Quants, How a New Breed of Math Whizzes Conquered Wall Street and Nearly Destroyed It by Scott Peterson
Any book by Larry R Williams
For economic and financial history any book by Lewis Mumford

There are many armchair economists who never apply their knowledge to markets or actual economic conditions. They have academic credentials but never put their theories or politics to the test. It is dangerous to create economic policies which could affect billions of lives on data, theories or perspectives which are relatively untested--as economic academia trends towards.

The best economic and financial content, in my humble opinion, comes from people who have tried to apply their economic and financial theories within a real world context.

When Warren Buffett and Bill Gates comment on crypto, I think many recognize neither of them has made any real attempt to validate or test their views on bitcoin. This makes their stance appear uninformed and immature. Many armchair economists are the same as Buffett and Gates commenting on crypto. They have many economic and financial views but they have made no attempt at testing or informing themselves on current affairs or how things really work outside an academic theoretical perspective.

That is very true. Most of these economists have their heads buried in theory and don't recognize the real application in the real world. That's why these theories become so detached and abstract as they try to fabricate experiments or take samples that are too small just to validate their point.

Floor traders have direct accountability for their actions and therefore know very well what works or doesn't work. An investment banker has no consequence to pay if they recommend you the wrong product. Read Nassim Taleb - Skin in the Game. It's the best book to come out so far this year.

Also, Taleb's Black Swan is important to understand possible "tail risks" or extreme events. These are very common in crypto as we see massive market swings quite often.