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History of Economic Thought
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This is an invigorating study of the development of systematic economic ideas. Many of the issues that faced economists in the past are still with us. This classic 1967 study has sold over 150,000 copies in English alone, and shows how the theories and methods of such men as Adam Smith, T. R. Malthus, David Ricardo, J. S. Mill, Karl Marx, Alfred Marshall, and J. M. Keynes are often relevant to us today - and we can always learn from their mistakes. For several decades, the economics establishment has been dismissive of Keynesianism, arguing that the world has moved beyond 'depression economics'. Keynesian economics, however, has now staged a comeback as governments attempt to formulate policy responses to the Great Recession that began in 2007. Esteemed economics scholar William J. Barber highlights the central properties of the four main schools of economic thought - classical, Marxian, neoclassical, and Keynesian - and shows that although each of these traditions is rooted in a different stage of economic development, they can all provide insights into the recurring problems of modern economics.
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