This is the sixth edition of a textbook that has been instrumental in introducing a generation of students to the history of economic thought. It charts the development of economics from its establishment as an analytical discipline in the eighteenth century through to the late twentieth century. The book discusses the work of, amongst others: Ricardo, Malthus, Marx, Walras, Marshall and Keynes as well as the institutionalists, the Chicago School and the emergence of econometrics. This edition has been fully revised and updated and includes:
* chronologies of the key dates in the development of economics
* extracts from original texts
* an examination of how the study of the history of economic thought impinges upon modern thinking.
Table of Contents
Part I: Preclassical Economics - an overview of Preclassical Economics; 1:Early Masterworks as Sources of Economic thought, 2:The origins of Analytic Economics, 3:The Transition to Classical Economics; Part II: Classical Economics - an overview of Classical Economics; 4:Physiocracy:the beginning of Analytical Economics, 5:Adam Smith: From Moral Philosophy to Political Economy, 6:Thomas Malthus and J.B Say: The Political Economy of Population Behaviour and Aggregate Demand,7. David Ricardo and William Nassau Senior: Income Shares and their Long Term Tendencies 8.David Ricardo and John Stuart Mill: International Trade, Finance and Monetary Theory, 9:Classical Theory in Review:From the French Theorists to Utilitarianism: Part III: The Critics of Classicism - an overview of Dissent; 10:Socialism, Induction, and the forerunners of Marginalism, 11:Karl Marx: An inquiry into the 'Law of Motion' of the Capitalist System, 12:'FirstGeneration' Marginalists: Jevons, Walras, and Menger, 13:'Second Generation' Marginalists; Part IV: the Neoclassical Tradition, 1890-1945; 14:Alfred Marshall and the Neoclassical Tradition, 15:Chamberlin, Robinson, and other Price theorists, 16:The 'New' Theory of Welfare and Consumer Behaviour, 17:Neoclassical Monetary and Business-cycle Theorists; Part V: The Dissent from Neoclassicism, 1890-1945; 18:The Dissent of American Institutionalists, 19:The Economists of Planning; Socialism without Marxism, 20:J.M. Keynes's Critique of the Mainstream Tradition, 21:Keynes's Theory of Employment, Output and Income; Part VI: Beyond High Theory; 22:The Emergence of Econometrics as a Sister-Discipline of Economics, 23:Keynesians, Neo-Walrasians, and Monetarists, 24:The Analytics of Economic Liberalism: The Chicago Tradition, 25:Competing Paradigms in Contemporary Economics
'This excellent textbook is intended to introduce economics students to the history of economic analysis, but it could also be used to introduce historians to the development of the central concepts of economic theory.' - Craig Muldrew, Times Higher Education Supplement