The Crisis of Vision in Modern Economic Thought

The Crisis of Vision in Modern Economic Thought
Author: Robert L. Heilbroner
Publisher: Cambridge University Press
Total Pages: 148
Release: 1996-01-26
Genre: Political Science
ISBN: 9780521497145

A deep and widespread crisis affects modern economic theory, a crisis that derives from the absence of a "vision"--a set of widely shared political and social preconceptions--on which all economics ultimately depends. This absence, in turn, reflects the collapse of the Keynesian view that provided such a foundation from 1940 through the early 1970s, comparable to earlier visions provided by Smith, Ricardo, Mill, and Marshall. The "unraveling" of Keynesianism has been followed by a division into discordant and ineffective camps whose common denominator seems to be their shared analytical refinement and lack of practical applicability. This provocative analysis attempts both to describe this state of affairs, and to suggest the direction in which economic thinking must move if it is to regain the relevance and remedial power it now pointedly lacks.

Modern Economic Thought

Modern Economic Thought
Author: Sidney Weintraub
Publisher: University of Pennsylvania Press
Total Pages: 600
Release: 2016-11-11
Genre: Business & Economics
ISBN: 1512808652

This book is a volume in the Penn Press Anniversary Collection. To mark its 125th anniversary in 2015, the University of Pennsylvania Press rereleased more than 1,100 titles from Penn Press's distinguished backlist from 1899-1999 that had fallen out of print. Spanning an entire century, the Anniversary Collection offers peer-reviewed scholarship in a wide range of subject areas.

New Ideas from Dead Economists

New Ideas from Dead Economists
Author: Todd G. Buchholz
Publisher: Penguin
Total Pages: 372
Release: 2007
Genre: Business & Economics
ISBN: 9780452288447

A reexamination of the major economic theories of the past two hundred years discusses how long-dead, famous economists such as Adam Smith and others would handle today's economic problems.

Trade and Nation

Trade and Nation
Author: Emily Erikson
Publisher: Middle Range Series
Total Pages: 320
Release: 2021-02-23
Genre:
ISBN: 9780231184342

In the seventeenth century, English economic theorists lost interest in the moral status of exchange and became increasingly concerned with the roots of national prosperity. Emily Erikson brings together historical, comparative, and computational methods to explain the institutional forces that brought about this transformation.

Classical Economic Theory and the Modern Economy

Classical Economic Theory and the Modern Economy
Author: Steven Kates
Publisher: Edward Elgar Publishing
Total Pages: 264
Release: 2020-06-26
Genre: Business & Economics
ISBN: 1786433575

Economic theory reached its zenith of analytical power and depth of understanding in the middle of the nineteenth century among John Stuart Mill and his contemporaries. This book explains what took place in the ensuing Marginal Revolution and Keynesian Revolution that left economists less able to understand how economies operate. It explores the false mythology that has obscured the arguments of classical economists, providing a pathway into the theory they developed.

The Making of Modern Economics

The Making of Modern Economics
Author: Mark Skousen
Publisher: Routledge
Total Pages: 770
Release: 2015-01-28
Genre: Business & Economics
ISBN: 131745586X

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.

Divine Providence in Early Modern Economic Thought

Divine Providence in Early Modern Economic Thought
Author: Joost Hengstmengel
Publisher: Routledge
Total Pages: 374
Release: 2019-05-21
Genre: Business & Economics
ISBN: 0429514549

In this important volume, Joost Hengstmengel examines the doctrine of divine providence and how it served as explanation and justification in economic debates in the sixteenth, seventeenth and eighteenth centuries throughout Western Europe. The author discusses five different areas in which God was associated with the economy: international trade, division of labour, value and price, self-interest, and poverty and inequality. Ultimately, it is shown that theological ideas continued to influence economic thought beyond the Medieval period, and that the science of economics as we know it today has theological origins. Interdisciplinary in nature, this book will be of interest to advanced students and researchers in the history of economic thought, the history of theology, philosophy and intellectual history.

Handbook of the History of Economic Thought

Handbook of the History of Economic Thought
Author: Jürgen Backhaus
Publisher: Springer Science & Business Media
Total Pages: 725
Release: 2011-11-12
Genre: Business & Economics
ISBN: 1441983368

This reader in the history of economic thought challenges the assumption that today’s prevailing economic theories are always the most appropriate ones. As Leland Yeager has pointed out, unlike the scientists of the natural sciences, economists provide their ideas largely to politicians and political appointees who have rather different incentives that might prevent them from choosing the best economic theory. In this book, the life and work of each of the founders of economics is examined by the best available expert on that founding figure. These contributors present rather novel and certainly not mainstream interpretations of the founders of modern economics. The primary theme concerns the development of economic thought as this emerged in the various continental traditions including the Islamic tradition. These continental traditions differed substantially, both substantively and methodologically, from the Anglo-Saxon orientation that has been dominant in the last century for example in the study of public finance or the very construct of the state itself. This books maps the various channels of continental economics, particularly from the late-18th through the early-20th centuries, explaining and demonstrating the underlying unity amid the surface diversity. In particular, the book emphasizes the writings of John Stuart Mill, his predecessor David Ricardo and his follower Jeremy Bentham; the theory of Marginalism by von Thünen, Cournot, and Gossen; the legacy of Karl Marx; the innovations in developmental economics by Friedrich List; the economic and monetary contributions and “struggle of escape” by John Maynard Keynes; the formidable theory in public finance and economics by Joseph Schumpeter; a reinterpretation of Alfred Marshall; Léon Walras, Heinrich von Stackelberg, Knut Wicksell, Werner Sombart, and Friedrich August von Hayek are each dealt with in their own right.

Economic Thought

Economic Thought
Author: Heinz D. Kurz
Publisher: Columbia University Press
Total Pages: 221
Release: 2016-05-03
Genre: Business & Economics
ISBN: 0231540752

In this concise yet comprehensive history, Heinz D. Kurz traces the long arc of economic thought from its emergence in ancient Greece to its systematic presentation among the classical thinkers of the late eighteenth and early nineteenth centuries to the influential work of scholars such as Paul Samuelson and Kenneth J. Arrow. With a keen eye for how economic insights are acquired, lost, and reborn, Kurz focuses on the dynamic individuals who give old ideas new life and the historical events that provoke different approaches and theories. Over the course of this journey, Kurz explains what Adam Smith meant by the "invisible hand"; how Karl Marx's "law of motion" works in capitalist economies; the roots of the Austrian economists' emphasis on the problems of information, incomplete knowledge, and uncertainty; John Maynard Keynes's principle of effective demand and economic stabilization; and the insights and challenges offered by growth theory, welfare economics, game theory, and more. He concludes with a deft summation of world economists' major concerns today and their critical relation to world events.

The Evolution of Economic Ideas

The Evolution of Economic Ideas
Author: Phyllis Deane
Publisher: Cambridge University Press
Total Pages: 260
Release: 1978-10-05
Genre: Business & Economics
ISBN: 9780521293150

An introduction to the history of economics for undergraduate students. Puts some of the current theoretical controversies into long-term perspective by tracing their historical antecedents and parallels.