Reviews'At a time when mainstream economists have practically abandoned the teaching of the history of economic thought in numerous economics undergraduate university programs internationally, professors Hassan Bougrine and Louis-Philippe Rochon should be commended for trying to reverse this tendency. They have brought together a truly first-class international group of distinguished non-mainstream economists to counter this growing collective amnesia in the economics profession by presenting and reassessing not only past developments in economic thinking going as far back as the eighteenth century, but also by analyzing contemporary schools of thought. This is a book that can be used as a textbook or as an additional source of stimulating reading, especially appropriate for students enrolled in any undergraduate course covering the broad field of economic thought, both historical and contemporary.'
Dewey Decimal330.1509
Table Of ContentContents: Introduction to A Brief History of Economic Thought 1 Hassan Bougrine and Louis-Philippe RochonPART I THE HISTORY OF ECONOMICS BEFORE KEYNES 1 The Mercantilists and Physiocrats 4Hassan Bougrine 2 The Classical School 14Suranjana Nabar-Bhaduri and Matías Vernengo 3 Karl Marx and the Marxist School 35Scott Carter 4 The Neoclassical School 54Hassan Bougrine PART II KEYNES AND HIS CONTEMPORARIES 5 John Maynard Keynes 74Amitava Dutt 6 Michal Kalecki 94Malcolm Sawyer 7 Thorstein Bunde Veblen 112Guglielmo Forges Davanzati 8 Joseph Alois Schumpeter 125Nicola De Liso 9 Karl Polanyi: The Place of the Economy in Society 148Claus ThomasbergerPART III THE HISTORY OF ECONOMICS AFTER KEYNES10 The Keynesian School and the Neoclassical Synthesis 173John E. King11 Milton Friedman and the Monetarist School 193Sergio Rossi12 The Rational Expectations School 211William McColloch and Matías Vernengo13 The New Keynesian School 228Steven Pressman14 The Post-Keynesian School 246Louis-Philippe RochonAuthor index 273Subject index 278
SynopsisIt is now widely acknowledged that history is useful, even essential, because it helps us predict the future. The history of ideas in economics, as in other fields of inquiry, plays an important role in enlightening current researchers as they endeavour to understand contemporary events and anticipate the future of human societies. This book brings together a fine collection of chapters that span contributions from forgotten classics to the most recent new thinking about critical issues such as growth, wealth, its creation and its distribution among members of society. It is A Brief History of Economic Thought , but it will certainly go a long way in helping undergraduate students and other researchers who are curious about the evolution of economic ideas over the last five centuries. Chapters offer discussions on the main tenets of post-Keynesian economics, and focus on issues of growth, wealth and income distribution. The debate on the role of government versus the market is brought to the fore within the context of economic thought from the Physiocrats to the post-Keynesians. The editors have created an essential read for scholars and students interested in the history of economic thought and post-Keynesian economics.