Economic Theory in Retrospect

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

Mark Blaug (Author)

9780521577014, Cambridge University Press

Paperback, published 27 March 1997

752 pages, 120 b/w illus.
23.9 x 17 x 4.3 cm, 1.29 kg

'Economic Theory in Retrospect has, for over three decades, stood out among the essential secondary literature for its thoroughness and depth, scope and scholarship. It is most reassuring, therefore that Blaug's great work will be continuing in a new edition, as a mainstay of serious courses in the history of economics, well into the next century and next millennium.' Terence Hutchison

This is a history of economic thought from Adam Smith to John Maynard Keynes - but it is a history with a difference. Firstly, it is a history of economic theory, not of economic doctrines, that is, it is consistently focused on theoretical analysis, undiluted by entertaining historical digressions or biological colouring. Secondly, it includes detailed Reader's Guides to nine of the major texts of economics, namely the works of Smith, Ricardo, Mill, Marx, Marshall, Wickstead, Wicksell, Walras and Keynes, in the effort to encourage students to become acquainted at first hand with the writings of all the great economists. This fifth edition, first published in 1997, adds new Reader's Guides to Walras's Elements of Pure Economics (1871–74) and Keynes' General Theory to the previous seven Reader's Guides of other great books in economics. There are significant and major additions to six chapters.

Introduction
1. Pre-Adamite economics
2. Adam Smith
3. Population, diminishing returns and rent
4. Ricardo's system
5. Say's Law and classical monetary theory
6. John Stuart Mill
7. Marxian economics
8. The marginal revolution
9. Marshallian economics: utility and demand
10. Marshallian economics: cost and supply
11. Marginal productivity and factor prices
12. The Austrian theory of capital and interest
13. General equilibrium and welfare economics
14. Spatial economics and the classical theory of location
15. The neoclassical theory of money, interest and prices
16. Macroeconomics
17. A methodological postscript.

Subject Areas: Economic theory & philosophy [KCA]