
A History of Economic Theory
Classic Contributions, 1720-1980
By:Â Jurg Niehans
Paperback | 14 December 1994
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592 Pages
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A History of Economic Theory offers a comprehensive account of the builders and building blocks of modern mainstream economics. Jurg Niehans shows how the analytical tools used by economists have evolved from the eighteenth century to the present. Niehans first surveys the development of classical economics from the scholastic and mercantilist traditions to Marx. He then follows the progress of marginalist economics from Thunen to Fischer. In the book's final section, he describes economic theory in the model-building era from Pigou and Keynes to Rational Expectations.
Building his story around the economists themselves, Niehans presents a pantheon of economic theory. It includes the famous from Smith and Riccardo to Samuelson and Friedman, as well as detailed discussions of lesser-known figures who have nevertheless made classic contributions. For each theorist Niehans offers a biographical sketch followed by a description, interpretation, and critical assessment of his work. With the current revival of interest in the history of economics, economists will find A History of Economic Theory not only a rich source of information but also a challenging analysis of the dynamics of scientific progress.
Industry Reviews
""Well organized. Its chapters on monetary topics and marginalist writers are balanced and informative. Many economists neglected in other histories are here given their due... As a convenient desk reference, this book has much to offer.""
| Preface and Acknowledgments | p. ix |
| Prologue: Populating the Pantheon | p. 1 |
| Subject Matter | |
| Perspective | |
| Populating the Pantheon | |
| Periodization | |
| Organization | |
| The Classical Era (ca. 1680-1830) | |
| The Leitmotiv of Classical Economics | p. 9 |
| Antecedents: Supply and Demand | p. 14 |
| Commonplace Economics | |
| The Scholastics | |
| Mercantilism | |
| Richard Cantillon | p. 24 |
| Life | |
| The Essai | |
| A Land Theory of Value | |
| The "Three Rents." | |
| Classical Monetary Theory | |
| Place in the History of Economics | |
| Appendix | |
| Francois Quesnay | p. 37 |
| Life | |
| Works | |
| The Tableau Economique as a Circular Flow | |
| The Tableau Economique as an Input-Output Table | |
| The Tableau Economique as a Zigzag | |
| Capital | |
| Policy Maxims | |
| Place in the History of Economics | |
| Money: The Emergence of the Classical Tradition | p. 48 |
| John Law | |
| David Hume | |
| Pehr Niclas Christiernin | |
| Adam Smith | p. 60 |
| Life | |
| Works | |
| Price | |
| The Social Accounts | |
| Labor and Wages | |
| Land and Rent | |
| Capital and Profit | |
| The Invisible Hand | |
| Liberalism and Mercantilism | |
| Place in the History of Economics | |
| Production and Factor Supply | p. 73 |
| Jacques Turgot | |
| James Anderson | |
| Thomas Robert Malthus | |
| John Rae | |
| David Ricardo | p. 86 |
| Life and Works | |
| Value | |
| The Invariable Measure of Value | |
| Rent | |
| Wages | |
| Profits | |
| Comparative Advantage | |
| Monetary Theory | |
| Place in the History of Economics | |
| Money: The Completion of the Classical Tradition | p. 105 |
| Henry Thornton | |
| Jean-Baptiste Say | |
| Nassau Senior | |
| Utility and Demand | p. 118 |
| Ferdinando Galiani and William Forster Lloyd | |
| Daniel Bernoulli and Jeremy Bentham | |
| John Stuart Mill | |
| Jules Dupuit | |
| Karl Marx | p. 137 |
| Life | |
| Works | |
| The Dialectic Model of History | |
| Capitalism | |
| Value | |
| Two-Sector Balanced Growth | |
| Falling Profits and the Collapse of Capitalism | |
| Place in the History of Economics | |
| The Marginalist Era (ca. 1830-1930) | |
| The Leitmotiv of Marginalism | p. 159 |
| Johann Heinrich von Thunen | p. 164 |
| Life | |
| Works | |
| Rent and Factor Intensities for One Good | |
| Resource Allocation and Location for Many Goods | |
| Marginal Productivity | |
| The Natural Wage | |
| Capital and Interest | |
| Thunen's Method | |
| Place in the History of Economics | |
| Antoine Augustin Cournot | p. 176 |
| Life | |
| Works | |
| The Law of Demand | |
| Monopoly | |
| Taxation | |
| Duopoly | |
| Pure Competition | |
| Place in the History of Economics | |
| Hermann Heinrich Gossen | p. 187 |
| Life | |
| Work | |
| Optimal Allocation of Time | |
| Production | |
| Exchange | |
| Rent | |
| Capital and Interest | |
| Nationalization of Land | |
| Place in the History of Economics | |
| William Stanley Jevons | p. 197 |
| Life | |
| Works | |
| Utility | |
| Exchange | |
| Capital and Interest | |
| Mathematics | |
| Place in the History of Economics | |
| Leon Walras | p. 207 |
| Life | |
| Works | |
| From Partial Equilibrium to General Equilibrium | |
| The Tatonnement Process | |
| Production and the Circular Flow | |
| Investment and Interest | |
| Money | |
| Welfare | |
| Place in the History of Economics | |
| The Viennese School | p. 220 |
| Carl Menger | |
| Eugen von Bohm-Bawerk | |
| Friedrich von Wieser | |
| Alfred Marshall | p. 236 |
| Life | |
| Works | |
| From General Equilibrium to Partial Equilibrium | |
| Reciprocal Demand Curves | |
| The Marshallian Cross | |
| Elasticity of Demand | |
| Period Analysis of Supply | |
| The Falling Supply Curve and Externalities | |
| Place in the History of Economics | |
| Knut Wicksell | p. 247 |
| Life | |
| Works | |
| Marginal Productivity Theory of Distribution | |
| Solving the Exhaustion Problem | |
| The Capital Paradigm | |
| The Cumulative Process | |
| Place in the History of Economics | |
| Vilfredo Pareto | p. 259 |
| Life | |
| Works | |
| Pareto's Law of Income Distribution | |
| Ordinal Utility | |
| Pareto Optimality | |
| Comparative Statics of Demand | |
| Place in the History of Economics | |
| Irving Fisher | p. 267 |
| Life | |
| Works | |
| Interdependent Goods | |
| Interest Parity and Expectations | |
| The Rate of Interest | |
| The Quantity Theory of Money | |
| Place in the History of Economics | |
| Exchange and Prices | p. 279 |
| Francis Ysidro Edgeworth | |
| Rudolf Auspitz and Richard Lieben | |
| Wilhelm Launhardt | |
| Eugen Slutsky | |
| Edward Chamberlin | |
| Joan Robinson | |
| The Era of Economic Models (since about 1930) | |
| The Leitmotiv of the Model-Building Era | p. 313 |
| Welfare | p. 318 |
| Arthur Cecil Pigou | |
| Frank Ramsey | |
| Abba Lerner | |
| Harold Hotelling | |
| James Meade | |
| John Maynard Keynes | p. 345 |
| Life | |
| Principal Economic Works | |
| Wage Rigidity | |
| Effective Demand | |
| The Multiplier | |
| Liquidity Preference | |
| The Futility of Wage Reductions | |
| Stabilization Policy | |
| The "Keynesian Revolution." | |
| Place in the History of Economics | |
| John Hicks | p. 356 |
| Life | |
| Works | |
| Production | |
| Composite Goods | |
| Comparative Statics and Stability | |
| Period Dynamics and the Term Structure | |
| Place in the History of Economics | |
| The Planners | p. 372 |
| Ragnar Frisch | |
| Jan Tinbergen | |
| Wassily Leontief | |
| John von Neumann | p. 392 |
| Life | |
| Works | |
| The Theory of Games | |
| The Existence of Growth Equilibrium | |
| Cardinal Utility | |
| Tjalling Koopmans | p. 408 |
| Life | |
| Works | |
| Econometrics | |
| Linear Programming | |
| Efficient Production | |
| Place in the History of Economics | |
| Paul Samuelson | p. 420 |
| Life | |
| Works | |
| Revealed Preference | |
| Factor Price Equalization | |
| The Transfer Problem | |
| The Correspondence Principle | |
| Nonsubstitution | |
| Public Goods | |
| The Turnpike | |
| Overlapping Generations | |
| Randomness of Speculative Prices | |
| Place in the History of Economics | |
| Economic Growth | p. 444 |
| Joseph Schumpeter | |
| Roy Harrod | |
| Robert Solow | |
| The Golden Rule | |
| Monetary Macroeconomics: Neoclassical Synthesis | p. 466 |
| Lloyd Metzler | |
| Franco Modigliani | |
| James Tobin | |
| Kenneth Arrow | p. 480 |
| Life | |
| Works | |
| Social Choice | |
| The Welfare Theorems | |
| Arrow-Debreu Equilibrium | |
| Contingent Claims and Insurance | |
| Health Economics | |
| Place in the History of Economics | |
| Monetary Macroeconomics: Policy Rules | p. 498 |
| Milton Friedman | |
| John Muth | |
| Robert Lucas | |
| Epilogue: The Dynamics of Scientific Progress | p. 516 |
| The Driving Forces | |
| Responses | |
| Success and Failure | |
| References | p. 535 |
| Author Index | p. 563 |
| Subject Index | p. 571 |
| Table of Contents provided by Syndetics. All Rights Reserved. |
ISBN: 9780801849763
ISBN-10: 0801849764
Published: 14th December 1994
Format: Paperback
Language: English
Number of Pages: 592
Audience: General Adult
For Ages: 22+ years old
Publisher: JOHNS HOPKINS UNIVERSITY PRESS
Country of Publication: US
Dimensions (cm): 24.13 x 15.88 x 3.81
Weight (kg): 0.87
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