This sequel to Heilbroner's classic survey of the great economists, The Worldly Philosophers, published four decades ago, is an anthology of writings of some 20 economic thinkers ranging from Aristotle to Malthus, Marx, Veblen and Schumpeter, with interlinking commentaries. Making the dismal science palatable with carefully chosen selections, Heilbroner often highlights underappreciated aspects of these economists' thinking; for example, Lord Keynes's wholly negative appraisal of Marxism, or Adam Smith's scathing critique of landlords and capitalists. He lets the thinkers speak for themselves as they analyze the workings of a market-driven economy and how it molds the behaviors of ordinary people. This adventurous omnibus includes economic insights from the Bible and Bernard Mandeville's 1705 poem, "The Grumblilng Hive," upholding mild fraud, luxury and appeals to pride as necessary agents of a prosperous business civilization. Heilbroner concludes that economics is inextricably sociopolitical in nature, and he urges a new crop of dissenting economists to take full account of ecological threats, political instabilities and new technologies. (Apr.)
Publishers Weekly - Publisher's Weekly
Heilbroner (economics emeritus, New Sch. for Social Research) is the author of the widely read The Worldly Philosophers (1953), which concerns the evolution of economic theory. In a new work, he has compiled a companion volume consisting of short selections of economic thought from the writings of major figures such as Adam Smith, David Ricardo, and Thomas Malthus of the Classical School; their later 19th-century dissenters, Karl Marx and Thorstein Veblen; and John Maynard Keynes, whose seminal works appeared in the late 1930s. Heilbroner's lucidly written commentaries illuminate the leading ideas and locate them in their social context. His book will be useful mostly as a supplement to works on economic theory and principles. Recommended for academic libraries.-Harry Frumerman, formerly with Hunter Coll., New York
Heilbroner is an economic historian and prolific writer whose popular pieces in the "New Yorker" have made the "dismal" science seem less so. Over the last 40 years, he has revised his "Worldly Philosophers", a profile of "the lives, times and ideas of great economic thinkers," several times, but here he adds a new twist that will serve to complement that truly classic work. To offer an overview of the major principles and evolution of ideas in economics, he uses actual text from the writings of the 20 or so economists he considers to be most important. Although making certain their words speak for themselves and claiming to be only a "guide," Heilbroner appears throughout the selections to "point out the significance" of the works he has selected. Reaffirming his lamentation made in "The Worldly Philosophers" that the work of today's leading economists "is not much in the tradition of the past," he begins with Aristotle and ends with Schumpeter. Sure to become a core title on collection-development lists.
A lively medley of readings from nearly 20 economists who have left their mark on Western civilization.
In a landmark work on the evolution of economic thought published over 40 years ago, Heilbroner (Visions of the Future, 1995, etc.) felicitously dubbed fellow practitioners of the dismal science worldly philosophers. He now fulfills a longstanding ambition to provide a companion piece that allows influential figures from the distant and recent past to speak for themselves. While prototypical economists and their ideas occupy center stage, the author does not hesitate to offer either brief critiques or his own opinions on innovative canons and consequential schools of thought. The result is an agreeable guided tour that begins with the Judeo-Christian Bible (which took a decidedly dim view of wealth) and ends with Joseph Alois Schumpeter (the father of entrepreneurship theory). On his trek through time, Heilbroner presents Aristotle (no friend of commerce), early mercantile apologists (Richard Cantillon, Thomas Mun), and a brace of physiocrats (François Quesnay, Anne Robert, Jacques Turgot) whose conviction that land was the source of all riches provided a bridge from prehistory to the classical era adorned by Adam Smith. Although the illustrious Scot is accorded pride of place, the author makes room aplenty for his intellectual heirs, including Thomas Robert Malthus, John Stuart Mill, and David Ricardo (a wildly successful securities speculator). In Heilbroner's compendium, John Maynard Keynes, along with Karl Marx (capitalism's hanging judge) and Thorstein Veblen (of conspicuous consumption fame), is in a class by himself.
Judicious and generous selections from the key writings of masters of the economics game, complete with perceptive commentary from their latter-day Boswell.
"An easy-access guide to the seminal writings of the great economists, selected and annotated with the idea that 'economics is inextricably sociopolitical in nature.' . . . A welcome refresher course."
"Heilbroner has come as close as a historian of economics gets to being a household name. . . . He makes hundreds of years of economic writings accessible and lively."
Heilbroner has come as close as a historian of economics gets to being a household name. . . . He makes hundreds of years of economic writings accessible and lively.”— Gina Neff
