Economic Thought

Heinz D. Kurz is professor of economics at the University of Graz in Austria and founder of the Graz Schumpeter Centre. He has also taught at numerous universities around the world, including Cambridge University and the New School for Social Research. His books in English include Theory of Production: A Long-Period Analysis and Understanding "Classical" Economics: Studies in Long Period Theory.

An enjoyable and well-organized history that will attract many readers to this highly readable treatise on the 'dismal science.' -- Amartya Sen, Harvard University Economic Thought ranges from harvest details on ancient Babylonian clay tablets to select recent developments in economic theory. Despite this breadth, Heinz D. Kurz achieves a truly impressive attention to detail and is able to provide intellectually satisfying explanations of many economic theories, both classical and modern. Any noneconomist wishing to acquire an intellectually serious introduction to economic theory would be well advised to begin with this book (and some overspecialized economists could certainly benefit too!). -- Ian Steedman, Manchester Metropolitan University An excellent read both for economists trained in the current traditions who want to know more about how their field evolved and for general readers looking for a broad but relatively compact history of economic thought. -- Richard R. Nelson, Columbia University The curious reader could not ask for a better guide to the significance of the history of economics than Kurz, who has distilled his many years of scholarship into this fine, easily readable book. Kurz understands well the dual nature of historical studies: to establish what the relevant theories meant in their time and their often changed application to our time. -- Geoffrey Harcourt, University of New South Wales If you're looking for a short but masterful overview of the course of economic thought, Heinz Kurz's book, translated from the German by Jeremiah Riemer, might be just the ticket. -- Brenda Jubin ValueWalk The book is remarkably successful in its objective of providing a brief history of economicthought. Economic and Political Weekly A definitive history of the field... Recommended. Asia Pacific Business Review

• Preface Introduction 1. Early Economic Thought 2. Classical Economics 3. Marx and the Socialists 4. The Rise of Marginalism 5. Marshall and the Theory of Partial Equilibrium 6. Utilitarianism, Welfare Theory, and Systems Debate 7. Imperfect Competition 8. Schumpeter and the Principle of Creative Destruction 9. Keynes and the Principle of Effective Demand 10. Reactions to Keynes 11. General Equilibrium Theory and Welfare Theory 12. Developments in Selected Fields A Final Word References and Bibliography Index