A Short History of Economic ThoughtThis book provides an elementary introduction to the history of economic thought and has been considerably overhauled and updated since the appearance of the first edition in 2002.nbsp; A chapter is devoted to each of the major developments in the history of the discipline, with a brand new introduction setting the scene.This short history of economic thinking covers large ground by outlining the main schools of thought and paradigm shifts in the field. Greater coverage is allowed to the major Anglo-American trends while retaining the innovative coverage of mainland European thinking so characteristic of the original. In the final chapter, the authors draw together some of the key strands and comment on some major works and textbooks in the history of economic ideas.nbsp; The book concludes by reflecting on the changes in economic thinking within the general context of the philosophy of science.The book provides a short and highly readable overview of the development of economic thinking, usable in courses where the history of economic thought constitutes only a small part or required background reading. It is an extremely useful, much needed text for all introductory economics courses in the field.nbsp; |
From inside the book
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Page 39
... determined without having to take recourse to the ( neoclassical ) principles of marginal productivity and marginal utility or to the ( classical ) labour theory of value , from which Ricardo had already gradually receded . The system ...
... determined without having to take recourse to the ( neoclassical ) principles of marginal productivity and marginal utility or to the ( classical ) labour theory of value , from which Ricardo had already gradually receded . The system ...
Page 51
... determined . The prices and quantities determined in this way can be interpreted as equilibrium values . Walras imagined that the economy may achieve the equilibrium state by way of a tâtonnement , a process like the bidding at an ...
... determined . The prices and quantities determined in this way can be interpreted as equilibrium values . Walras imagined that the economy may achieve the equilibrium state by way of a tâtonnement , a process like the bidding at an ...
Page 61
... determine the rate of interest , one must know the value of aggregate capital , which cannot be determined without knowing the rate of interest . The Cambridge controversies revealed that theoretical problems easily appear when the ...
... determine the rate of interest , one must know the value of aggregate capital , which cannot be determined without knowing the rate of interest . The Cambridge controversies revealed that theoretical problems easily appear when the ...
Contents
Classical political economy | 15 |
Neoclassical economics | 40 |
Historical schools and institutionalism | 64 |
Copyright | |
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Other editions - View all
A Short History of Economic Thought Bo Sandelin,Hans-Michael Trautwein,Richard Wundrak Snippet view - 2008 |
A Short History of Economic Thought Bo Sandelin,Hans-Michael Trautwein,Richard Wundrak No preview available - 2008 |
Common terms and phrases
aggregate Alfred Marshall argued assumptions Austrian behaviour behavioural economics Böhm-Bawerk business cycle Cambridge capitalist century changes chapter classical political economy commodities competition concept consumer consumption core costs Cournot critical critique David Ricardo determined division of labour economic analysis economic thinking economic thought equilibrium Fisher German historical school growth history of economic ideas imperfect competition important income increase industry inflation institutionalist institutions interest rates investment IS-LM Jevons Keynes Keynesian Knies labour theory later macroeconomics Malthus marginal principle marginal utility marginalist Marshall Marx mathematical Menger Mercantilism mercantilist method Methodenstreit modern monetary policy neoclassical economics neoclassical synthesis neoclassicists neutrality of money Pareto Phillips curve physiocrats price level production professor profit quantity theory rate of interest rent revolution Ricardo role Roscher Say's law Schumpeter social society supply and demand surplus theory of value Thünen trade unemployment University value in exchange Veblen wage Walras Wicksell Wicksell's