Economic Theory In Retrospect Revised Edition

This book, first published in 1997, is a history of economic thought from Adam Smith to John Maynard Keynes.

This book focuses on the economic theories in the leading works and mainstream ideas.

This is a history of economic thought from Adam Smith to John Maynard Keynes. Copyright © Libri GmbH. All rights reserved.

Known for its clarity, comprehensiveness, and balance, the latest edition of A History of Economic Theory and Method continues that tradition of excellence. Ekelund and Hébert’s survey provides historical and international contexts for how economic models have served social needs throughout the centuries—beginning with the ancient Greeks through the present time. The authors not only trace ideas that have persisted but skillfully demonstrate that past, discredited ideas also have a way of spawning critical thinking and encouraging new directions in economic analysis. Coverage that distinguishes the Sixth Edition from its predecessors includes a detailed analysis of economic solutions by John Stuart Mill and Edwin Chadwick to problems raised by the Industrial Revolution; the role of psychology and “experiments” in understanding demand and consumer behavior; discussions of modern economic theory as it interrelates with other social sciences; and a close look at the historical development of the critical role of entrepreneurship, both in its productive and unproductive variants. The authors’ creative approach gives readers a feel for the thought processes of the great minds in economics and underscores key ideas impacting contemporary thought and practice. Well-crafted discussions are further enriched by absorbing examples and figures. Thorough suggested reading lists give options for more in-depth explorations by interested readers.

The history of economic thought has always attracted some of the brightest minds in the discipline. These chroniclers of development have helped form our current views, and it is no surprise that many among them have been at the forefront of new movements in the history of ideas.This notable collection summarizes the work of these key historians of

A systematic comparison of the 3 major economic theories—neoclassical, Keynesian, and Marxian—showing how they differ and why these differences matter in shaping economic theory and practice. Contending Economic Theories offers a unique comparative treatment of the three main theories in economics as it is taught today: neoclassical, Keynesian, and Marxian. Each is developed and discussed in its own chapter, yet also differentiated from and compared to the other two theories. The authors identify each theory's starting point, its goals and foci, and its internal logic. They connect their comparative theory analysis to the larger policy issues that divide the rival camps of theorists around such central issues as the role government should play in the economy and the class structure of production, stressing the different analytical, policy, and social decisions that flow from each theory's conceptualization of economics. Building on their earlier book Economics: Marxian versus Neoclassical, the authors offer an expanded treatment of Keynesian economics and a comprehensive introduction to Marxian economics, including its class analysis of society. Beyond providing a systematic explanation of the logic and structure of standard neoclassical theory, they analyze recent extensions and developments of that theory around such topics as market imperfections, information economics, new theories of equilibrium, and behavioral economics, considering whether these advances represent new paradigms or merely adjustments to the standard theory. They also explain why economic reasoning has varied among these three approaches throughout the twentieth century, and why this variation continues today—as neoclassical views give way to new Keynesian approaches in the wake of the economic collapse of 2008.