I was wondering if anyone could recommend any books that I could read in order to gain an insight into the realms of economic theory? I have no idea whether I prefer a more socialist approach, a more free-market approach, or a mixed economy; I would like to have formulated some sort of opinion before the next general election in the UK.

So far I've considered buying "Capitalism and Freedom" by Milton Friedman. (I'm particularly fond of him and his lectures). I don't know of any books that support more left-wing economics. I'm assuming "The Communist Manifesto" (Karl Marx) would be good in this respect, but I'm not sure whether or not that would be too hard going.

Thanks.

I'm sure you know this but the articles on wikipedia are a great place to start:

Political spectrum
Left-right politics
Types of economic systems

I couldn't recommend any books, but the ones you mentioned seem like good choices.

A couple of years back I very strongly supported "libertarianism" (in the sense of ideology rather than the political spectrum), i.e. classic liberal. But after my politics classes at college, I'm now not so sure I agree with laissez-faire economics. So I guess I know what the ideologies are proponents of, but I'm not so sure as to how the advantages and disadvantages of each weigh up. I value personal liberty very highly, and so I tend to lean towards a free market, but then I question whether a free market and equality of opportunity is fair enough. I guess the last link you provided would be a good way to start, and click on the links pertaining to the different ideologies, reading through the articles' "for and against" arguments. But really what I'm looking for is someone to say "this book is the best argument for a laissez-faire economy, and this book is the best argument for a socialist economy".

I do not recommend Keynes, General Theory of Employment, Interest, and Money. It's a seminal text but it is absolutely no fun to read. That's my only insight in this matter.

Where do you stand on Keynesianism vs. monetarism then? What aided you in deciding? I'll take your word for it and not read Keynes' own writing :')

Honestly I don't really have a stance on the issue. Macroeconomics has always been something of a weak point for me. I guess I incline towards Keynesianism, probably because I read the book and the arguments are valid, but I would not defend it if someone came up with a good argument the other way.

Definitely free market over communism though. I support the foundations of economics, I just don't pretend to know what they imply for policy.