This book presents a bold, engaging and updated 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 this popular work, now in its third edition.
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. Boxes in each chapter highlight little-known and entertaining facts about the economists' personal lives that had an influence on their work.
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 tried 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: Market Economies Face New Challenges