History if Economic Thought

This book explores the ideas of nine renowned economists to present the evolution of economic thought on the development and trajectory of capitalism as a system. The author shows how this diverse group of thinkers are linked by their thinking on the future role of capitalism in society and fleshes out the influences informing each economist’s work. With chapters dedicated to Karl Marx, Joseph Schumpeter, Thorstein Veblen, Henry George, Gunnar Myrdal, Alfred Marshall, Allyn Young, J. M. Keynes and Amartya Sen, the book aims to analyse contrasting views on the future of capitalism in historical perspective and make a critical assessment of their insights in contemporary contexts.

All of the tradeoffs in competing economic systems—capitalism, socialism, and communism—are controversial. These systems and ideologies have undeniably shaped the way people view both the world today and modern history. But where does capitalism begin and socialism end? In short, it’s about choice and compromise.