The Classical Economists: Beginning a New World of Economic Insight

by E.G. West, Louis Rukeyser (narrator)

The classical economists pioneered a new way of thinking about the uniquely human tendency to produce, trade, consume, and accumulate. Adam Smith (1723-1790) explained how the division of labor expands productive power and argued for freedom in economic affairs. David Ricardo (1772-1823), a London stockbroker, developed the concept of diminishing returns, the wages-fund doctrine, and classical rent theory. Another classical theorist, Thomas Malthus (1776-1834), proposed that workers are doomed to subsistence wages, because populations increase geometrically while food production increases arithmetically. Other classical economists, including James Mill, John Stuart Mill, and Nassau Senior, extended and refined classical economics throughout the nineteenth century. The Great Economic Thinkers series is a collection of presentations that explain, in understandable language, the major ideas of history's most important economists. Special emphasis is placed on each thinker's attitude toward capitalism, revealing their influence in today's debate on economic progress and prosperity.

Genres: Economics, Nonfiction, History, Audiobook

Audio CD

First published March 16, 2006

Reviews

[Abdullah Al-Abri · Rating 4 out of 5]

مختصر عن تاريخ الاقتصاد

[Alex Shrugged · Rating 3 out of 5]

This is a summary and comparison of the viewpoints of three classical economists: Adam Smith (1723-1790), David Ricardo (1772-1823), and Thomas Malthus (1776-1834) with a few other economists thrown in along the way.

I've also listened to the audiobook on Adam Smith so I was already familiar with most of the issues. Keep in mind that with every summary such as this you are trusting that the author is giving you an objective interpretation. The author is not justifying (much) that interpretation. Yet I heard nothing out of the ordinary.

I'd listen to this audiobook again.

[Sam · Rating 3 out of 5]

A concise introduction into several schools of early economic thought and their proponents. The straight forward explanation of mercantilism and its protectionist policies was especially helpful in putting Adam Smith's Wealth of Nations into context. Well worth the listen.

[Ania · Rating 4 out of 5]

Informative and covers the topic thoroughly.

[Tomas · Rating 3 out of 5]

Short book. I will need to revisit, it was more technical than I thought. Definitely fun to get an overview of what the original economists were thinking at the timw

[Vincent V · Rating 5 out of 5]

Really good, I will read every book on this series I can get my hands on.

[Adrian Iswariah · Rating 5 out of 5]

A good introduction to the underpinning of our modern world

[Abhishek Kumar · Rating 2 out of 5]

A recap of now economics & commerce common sense, through the lense of Western history.