History of Economic Thought

The new edition of this classroom classic retains the organizing theme of the original text, presenting the development of thought within the context of economic history. Economic ideas are framed in terms of the spheres of production and circulation, with a critical analysis of how past theorists presented their ideas. This third edition is more accessible to both undergraduate and graduate level courses with the placement of more formal presentations within appendices. The text also develops more fully the ideas of some of the early post-Keynesians, such as Joan Robinson, Nicholas Kaldor, and Roy Harrod, while the last three chapters are brought up-to-date by including the Great Recession of 2007-2009.