A Brief History of Economic Thought

The evolution of economic thought can be traced back from its beginnings in classical antiquity up to the present day. In this book, Professor Alessandro Roncaglia offers a clear, concise and updated version of his award-winning The Wealth of Ideas, studying the development of economic thought through perspectives and debates on the economy and society over time. With chapters on prominent economic theorists, including William Petty, Karl Marx, and John Maynard Keynes, as well as on other important figures and key debates of each period, Roncaglia critically evaluates the foundations of the marginalist?neoclassical (scarcity?utility) approach in comparison to the Classical?Keynes approach. A comprehensive guide to the history of economic thought, this book will be of value not only to undergraduate and postgraduate students studying economic thought, but also to any readers desiring to study how economics has evolved up to the present day.

1. Introduction: the history of economic thought and its role; 2. The prehistory of political economy; 3. William Petty and the origins of political economy; 4. From body politic to economic tables; 5. Adam Smith; 6. Economic science at the time of the French Revolution; 7. David Ricardo; 8. The Ricardians and the decline of Ricardianism; 9. Karl Marx; 10. The Marginalist Revolution: the subjective theory of value; 11. The Austrian school and its neighbourhood; 12. General economic equilibrium; 13. Alfred Marshall; 14. John Maynard Keynes; 15. Joseph Schumpeter; 16. Piero Sraffa; 17. The age of disgregation.

Alessandro Roncaglia is Professor of Economics at Sapienza Università di Roma, member of the Accademia Nazionale dei Lincei, editor of PSL Quarterly Review and Moneta e Credito, and was previously the President of the Società Italiana degli Economisti. His numerous publications, translated in various languages, include The Wealth of Ideas (Cambridge, 2005).