Economic thought
Subtitle: a brief history
By: Heinz D. Kurz ; translated by Jeremiah Riemer
Published: 2016
Language: eng
Number of pages: 208
ISBN-13: 9780231172585; 9780231172592
Subjects: Economics; History
Work titles: Geschichte des ökonomischen Denkens
Description: In this concise yet comprehensive history, Heinz D. Kurz traces the long arc of economic thought from its emergence in ancient Greece to its systematic presentation among the classical thinkers of the late eighteenth and early nineteenth centuries to the influential work of scholars such as Paul Samuelson and Kenneth J. Arrow. With a keen eye for how economic insights are acquired, lost, and reborn, Kurz focuses on the dynamic individuals who give old ideas new life and the historical events that provoke different approaches and theories. Over the course of this journey, Kurz explains what Adam Smith meant by the "invisible hand"; how Karl Marx's "law of motion" works in capitalist economies; the roots of the Austrian economists' emphasis on the problems of information, incomplete knowledge, and uncertainty; John Maynard Keynes's principle of effective demand and economic stabilization; and the insights and challenges offered by growth theory, welfare economics, game theory, and more. He concludes with a deft summation of world economists' major concerns today and their critical reactions to world events. -- from dust jacket.
Notes: Includes bibliographical references and index.

Translated from the German.
Table of contents: title: Early economic thought; title: Classical economics; title: Marx and the socialists; title: The rise of marginalism; title: Marshall and the theory of partial equilibrium; title: Utilitarianism, welfare theory, and systems debate; title: Imperfect competition; title: Schumpeter and the principle of creative destruction; title: Keynes and the principle of effective demand; title: Reactions to Keynes; title: General equilibrium theory and welfare theory; title: Developments in selected fields.