Here is a bold history of economics - the dramatic story of how the great economic thinkers built today's rigorous social science. Noted financial writer and economist Mark Skousen has revised and updated this popular work to provide more material on Adam Smith and Karl Marx, and expanded coverage of Joseph Stiglitz, 'imperfect' markets, and behavioral economics.This comprehensive, yet accessible introduction to the major economic philosophers of the past 225 years begins with Adam Smith and continues through the present day. The text examines the contributions made by each individual to our understanding of the role of the economist, the science of economics, and economic theory. To make the work more engaging, boxes in each chapter highlight little-known - and often amusing - facts about the economists' personal lives that affected their work.
List of Figures, Illustrations, Photographs, and Tables; Acknowledgments; Introduction; 1. It All Started With Adam; 2. The French Connection: Laissez Faire Avance!; 3. The Irreverent Malthus Challenges the New Model of Prosperity; 4. Tricky Ricardo Takes Economics Down a Dangerous Road; 5. Milling Around: John Stuart Mill and the Socialists Search for Utopia; 6. Marx Madness Plunges Economics into a New Dark Age; 7. Out of the Blue Danube: Menger and the Austrians Reverse the Tide; 8. Marshalling the Troops: Scientific Economics Comes of Age; 9. Go West, Young Man: Americans Solve the Distribution Problem in Economics; 10. The Conspicuous Veblen Versus the Protesting Weber: Two Critics Debate the Meaning of Capitalism; 11. The Fisher King Tries to Catch the Missing Link in Macroeconomics; 12. The Missing Mises: Mises (and Wicksell) Make a Major Breakthrough; 13. The Keynes Mutiny: Capitalism Faces Its Greatest Challenge; 14. Paul Raises the Keynesian Cross: Samuelson and Modern Economics; 15. Milton's Paradise: Friedman Leads a Monetary Counterrevolution; 16. The Creative Destruction of Socialism: The Dark Vision of Joseph Schumpeter; 17. Dr. Smith Goes to Washington: The Triumph of Market Economics; Index; About the Author.