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Five Economic Challenges
Addressing the most critical economic challenges of the closing decades of this century, the authors explore the causes and effects of inflation, recession, big government, the weakening dollar, and the energy crisis
140 pages, Paperback
First published January 1, 1981
13 people want to read
About the author
Robert L. Heilbroner
100 books112 followersRobert L. Heilbroner (March 24, 1919 – January 4, 2005) was an American economist and historian of economic thought. The author of some twenty books, Heilbroner was best known for The Worldly Philosophers, a survey of the lives and contributions of famous economists, notably Adam Smith, Karl Marx, and John Maynard Keynes.
Written in 1953, The Worldly Philosophers has sold nearly four million copies—the second-best-selling economics text of all time. The seventh edition of the book, published in 1999, included a new final chapter entitled "The End of Worldly Philosophy?", which included both a grim view on the current state of economics as well as a hopeful vision for a "reborn worldly philosophy" that incorporated social aspects of capitalism.
Although a highly unconventional economist, who regarded himself as more of a social theorist and "worldly philosopher" (philosopher pre-occupied with "worldly" affairs, such as economic structures), and who tended to integrate the disciplines of history, economics and philosophy, Heilbroner was nevertheless recognized by his peers as a prominent economist. He was elected Vice President of the American Economic Association in 1972.
He also came up with a way of classifying economies, as either Traditional (primarily agriculturally-based, perhaps subsistence economy), Command (centrally planned economy, often involving the state), Market (capitalism), or Mixed.
He was a trustee of the Economists for Peace and Security.
Heilbroner died on January 4, 2005 in New York, NY at the age of 85.
Written in 1953, The Worldly Philosophers has sold nearly four million copies—the second-best-selling economics text of all time. The seventh edition of the book, published in 1999, included a new final chapter entitled "The End of Worldly Philosophy?", which included both a grim view on the current state of economics as well as a hopeful vision for a "reborn worldly philosophy" that incorporated social aspects of capitalism.
Although a highly unconventional economist, who regarded himself as more of a social theorist and "worldly philosopher" (philosopher pre-occupied with "worldly" affairs, such as economic structures), and who tended to integrate the disciplines of history, economics and philosophy, Heilbroner was nevertheless recognized by his peers as a prominent economist. He was elected Vice President of the American Economic Association in 1972.
He also came up with a way of classifying economies, as either Traditional (primarily agriculturally-based, perhaps subsistence economy), Command (centrally planned economy, often involving the state), Market (capitalism), or Mixed.
He was a trustee of the Economists for Peace and Security.
Heilbroner died on January 4, 2005 in New York, NY at the age of 85.
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April 8, 2018
Time ago I was given Heilbroner's book on the history of economic thought. Raised in a socialist environment, the logic and the chronology made sense. Now I read Heilbroner and I wonder what sort of nonsense might have been in that book. Here's an excerpt from from the third chapter, the very first words:
> Government dominates our economic life. Or does it? Many of those who most deplore the presence of government in economic affairs are also the first to tell you that government in fact is powerless to exert its puny efforts against the pressures of the market system. To many conservatives government can't accomplish anything. At best - or rather, at worst - it prevents the free enterprise system from accomplishing things. Government regulates industries that would serve the nation better if they were unregulated. It interferes with the system of rewards and incentives and thereby inhibits economic growth. It encourages the poor to remain poor. It spreads urban blight. It saddles us with debt. It is the worm in the apple, the root cause of every economic problem.
Oh, boy! The work quality of state bureaucrats.
So government does not dominate the national economy because it can't accomplish anything.
And the text is with "many" and other weasel wordings. And with absolutes "can't accomplish anything", which is just a mask for strawmanning. Magical thinking, strong belief and at best circumstantial proof, the text is inferior to most Catholic scholarship I have read.
> Government dominates our economic life. Or does it? Many of those who most deplore the presence of government in economic affairs are also the first to tell you that government in fact is powerless to exert its puny efforts against the pressures of the market system. To many conservatives government can't accomplish anything. At best - or rather, at worst - it prevents the free enterprise system from accomplishing things. Government regulates industries that would serve the nation better if they were unregulated. It interferes with the system of rewards and incentives and thereby inhibits economic growth. It encourages the poor to remain poor. It spreads urban blight. It saddles us with debt. It is the worm in the apple, the root cause of every economic problem.
Oh, boy! The work quality of state bureaucrats.
So government does not dominate the national economy because it can't accomplish anything.
And the text is with "many" and other weasel wordings. And with absolutes "can't accomplish anything", which is just a mask for strawmanning. Magical thinking, strong belief and at best circumstantial proof, the text is inferior to most Catholic scholarship I have read.
Displaying 1 of 1 review