ABSTRACT
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|62 pages
Preclassical Economics
chapter Chapter 1|15 pages
Early masterworks as sources of economic thought
chapter Chapter 2|21 pages
The origins of analytical economics
chapter Chapter 3|20 pages
The transition to classical economics
part II|130 pages
Classical Economics
chapter Chapter 4|19 pages
Physiocracy: the beginning of analytical economics
chapter Chapter 5|29 pages
Adam Smith: from moral philosophy to political economy
chapter Chapter 6|22 pages
Thomas Malthus and J. B. Say: the political economy of population behavior and aggregate demand
chapter Chapter 7|22 pages
David Ricardo and William Nassau Senior: income shares and their long-term tendencies
chapter Chapter 9|13 pages
Classical theory in review: from Quesnay to McCulloch
part III|106 pages
The Critics of Classicism
chapter Chapter 10|21 pages
Socialism, induction, and the forerunners of marginalism
chapter Chapter 11|24 pages
Karl Marx: an inquiry into the ‘Law of Motion’ of the capitalist system
chapter Chapter 12|29 pages
‘First-generation’ marginalists: Jevons, Walras, and Menger
chapter Chapter 13|27 pages
‘Second-generation’ marginalists and the Austrian school
part IV|103 pages
The Neoclassical Tradition, 1890–1945
chapter Chapter 14|31 pages
Alfred Marshall and the neoclassical tradition
chapter Chapter 15|23 pages
Chamberlin, Robinson, and other price theorists
chapter Chapter 16|23 pages
The ‘new’ theory of welfare and consumer behavior
chapter Chapter 17|20 pages
Neoclassical monetary and business-cycle theorists
part V|78 pages
The Dissent from Neoclassicism, 1890–1945
chapter Chapter 18|18 pages
The dissent of American institutionalists
chapter Chapter 19|14 pages
The economics of planning; socialism without Marxism
chapter Chapter 20|17 pages
J. M. Keynes's critique of the mainstream tradition
chapter Chapter 21|24 pages
Keynes's theory of employment, output, and income; Harrod's dynamic interpretation
part VI|88 pages
Beyond High Theory