A Concise History of Economists' Assumptions about Markets: From Adam Smith to Joseph Schumpeter

This open—minded, multidisciplinary approach challenges existing world views on the endogenous and exogenous forces that drive markets and economies.

Nine narrative chapters and a conclusion provide an accessible history of key premises and assumptions in the mental models proposed by several major economists since the 1776 publication of Adam Smith's The Wealth of Nations and show how—and why—those models and their underlying assumptions have changed over time. The book addresses the legaci...