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A History of Economic Thought
This critical study of the development of systematic economic ideas explores them in both historical and contemporary contexts.
Many of the issues that faced economists in the past are still with us. The theories and methods of such men as Adam Smith, T. R. Malthus, David Ricardo, J.S. Mill, Karl Marx, Alfred Marshall, and J. M. Keynes are often relevant to us today. As the Great Recession taught us in the first decade of the twenty-first century, the history of economic thought can have wide-ranging practical applications.
In this volume, Professor William J. Barber assesses the thought of a number of important economists both in terms of the issues of their day and in relation to modern economic thought. By concentrating on the greatest exponents, he highlights the central properties of the four main schools of economic thought—classical, Marxian, neo-classical, and Keynesian—and shows that although each of these traditions is rooted in a different stage of economic development, they can all provide insights into the recurring problems of modern economics.
Many of the issues that faced economists in the past are still with us. The theories and methods of such men as Adam Smith, T. R. Malthus, David Ricardo, J.S. Mill, Karl Marx, Alfred Marshall, and J. M. Keynes are often relevant to us today. As the Great Recession taught us in the first decade of the twenty-first century, the history of economic thought can have wide-ranging practical applications.
In this volume, Professor William J. Barber assesses the thought of a number of important economists both in terms of the issues of their day and in relation to modern economic thought. By concentrating on the greatest exponents, he highlights the central properties of the four main schools of economic thought—classical, Marxian, neo-classical, and Keynesian—and shows that although each of these traditions is rooted in a different stage of economic development, they can all provide insights into the recurring problems of modern economics.
296 pages, Kindle Edition
First published January 1, 1967
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Displaying 1 - 15 of 15 reviews
August 14, 2021
Read diagonally as a student. Conventional historical overview of economic thinking.
February 2, 2015
In a way that William J. Barber's 'A History of Economic Thought' is 25 years old now works in its favour. Sure, economics has been forced to move on considerably in that quarter of a century, but Barber was free to write about the theories and exponents that he covers without having to involve himself in the minutiae of what was going on at the time. Indeed, Barber ends his history with John Maynard Keynes, whose central ideas were being put to use decades before this book was written. This does rob his work of Friedrich Hayek's importance, however.
Barber does a very good job of keeping the history and the theories understandable, but could probably have spent more time explaining things rather than directly quoting his subjects and explaining contemporary criticisms.
Overall though, a solid introduction.
Barber does a very good job of keeping the history and the theories understandable, but could probably have spent more time explaining things rather than directly quoting his subjects and explaining contemporary criticisms.
Overall though, a solid introduction.
July 25, 2020
A decent introduction to the subject.
October 19, 2025
Recuerdo adquirir este libro hace unos cuantos años en una librería especializada en volúmenes ya usados, a un precio irrisorio y en un estado más que discutible (el libro, no yo, por aclarar). Y vaya, me animé con su lectura, y solo puedo tener palabras agradables hacia el texto. Aunque bueno, sí que puedo objetar un "pero", y es en relación a su extensión y las omisiones que practica. Habría deseado el tratamiento de otras escuelas de pensamiento o autores, pero como introducción o tratamiento de las escuelas fundamentales del conocimiento económico, es un libro fabuloso. El estilo es claro, se hace mención directa a párrafos célebres de las obras de los distintos autores, y cumple su cometido de historia del pensamiento económico. Y recalco, pensamiento.
El libro se estructura mayormente en 4 partes bien definidas:
- Economía clásica (Adam Smith, Thomas Robert Malthus, David Ricardo y John Stuart Mill). En este capítulo, a modo de necesaria introducción, se hace mención a los mercantilistas y a los fisiócratas.
- Economía marxista (Karl Marx). La impresionante figura del autor alemán bastaría para rellenar tomos y más tomos, pero también es de interés la mención del autor húngaro Eugen Varga.
- Economía neoclásica (Alfred Marshall). En este capítulo se hace mención a las más potentes ramificaciones del pensamiento neoclásico, algunas de las cuales han llegado hasta nuestros días en un excelente estado de forma. Estas son, la escuela de Lausana (León Walras), Estados Unidos (John Bates Clark), Austria (Eugen von Böhm-Bawerk) y Suecia (Knut Wicksell).
- Economía keynesiana (John Maynard Keynes). El autor expone, pese a su general imparcialidad, con cierta admiración el pensamiento de una de las grandes mentes que ha tenido esta disciplina.
Debido a que el libro fue publicado a finales de los años 60, es notable la ausencia de autores como Milton Friedman, su escuela monetarista y el profundo impacto que tuvo (especialmente en los años 70), y sigue teniendo a día de hoy en ciertos círculos. Por tanto, se debe tener en cuenta esta omisión (por cuestiones temporales, si se quiere), así como otras ausencias notables (como la de Hayek o Solow, por ejemplo). Pero como he comentado al comienzo de la reseña, el libro no tiene desperdicio y trata de forma honesta y rigurosa las principales escuelas del pensamiento económico en una extensión (274 páginas en Alianza Editorial) más que amigable. Recomendable.
El libro se estructura mayormente en 4 partes bien definidas:
- Economía clásica (Adam Smith, Thomas Robert Malthus, David Ricardo y John Stuart Mill). En este capítulo, a modo de necesaria introducción, se hace mención a los mercantilistas y a los fisiócratas.
- Economía marxista (Karl Marx). La impresionante figura del autor alemán bastaría para rellenar tomos y más tomos, pero también es de interés la mención del autor húngaro Eugen Varga.
- Economía neoclásica (Alfred Marshall). En este capítulo se hace mención a las más potentes ramificaciones del pensamiento neoclásico, algunas de las cuales han llegado hasta nuestros días en un excelente estado de forma. Estas son, la escuela de Lausana (León Walras), Estados Unidos (John Bates Clark), Austria (Eugen von Böhm-Bawerk) y Suecia (Knut Wicksell).
- Economía keynesiana (John Maynard Keynes). El autor expone, pese a su general imparcialidad, con cierta admiración el pensamiento de una de las grandes mentes que ha tenido esta disciplina.
Debido a que el libro fue publicado a finales de los años 60, es notable la ausencia de autores como Milton Friedman, su escuela monetarista y el profundo impacto que tuvo (especialmente en los años 70), y sigue teniendo a día de hoy en ciertos círculos. Por tanto, se debe tener en cuenta esta omisión (por cuestiones temporales, si se quiere), así como otras ausencias notables (como la de Hayek o Solow, por ejemplo). Pero como he comentado al comienzo de la reseña, el libro no tiene desperdicio y trata de forma honesta y rigurosa las principales escuelas del pensamiento económico en una extensión (274 páginas en Alianza Editorial) más que amigable. Recomendable.
March 27, 2022
A great introduction to the history of economic thought, especially for undergraduate students. This book is a bit more advanced, more technical, but less lively than Heilbroner's Worldly Philosopher. Barber did not hesitate to delve into more technical issues, such as income distribution or theory of value, something that Heilobroner avoided.
This book is highly recommended to use in the history of thought class at the undergrad level because it only discusses the four main schools of economic thought: classical, Marxian, neoclassical, and Keynesian. It's not hard to read, but concise enough to well finish in one semester. Other books seem to focus on more than four schools, something considered too much for a one-semester course for undergrad students.
Overall, this is an underrated book. Using this one and the Worldly Philosopher will be great for the history of economic thought class.
This book is highly recommended to use in the history of thought class at the undergrad level because it only discusses the four main schools of economic thought: classical, Marxian, neoclassical, and Keynesian. It's not hard to read, but concise enough to well finish in one semester. Other books seem to focus on more than four schools, something considered too much for a one-semester course for undergrad students.
Overall, this is an underrated book. Using this one and the Worldly Philosopher will be great for the history of economic thought class.
March 28, 2023
Stats:
8 sessions
292 pages
10h 59 min over 51 days
Pace: 2min 15s/page
Bu kitabi okumak gercek bir zulum oldu. Deprem felaketi kitap okumaktan bir sure uzaklastirdi. Yazilanlari anlamak oldukca guc oldu bir cok yeri tekrar tekrar okudum. Uzun cumleler degilin degilleri olumsuzluk ekleri, cok kotu bir yazi mi yoksa ceviri mi cok kotu anlayamadim. Oyle ki cogu yerde anlatiya paralel bir konu ayni zamanda dip notta anlatiliyor yaziya ilave edilip duzenlenmesi gerekirken. Eski kelimeler tuhaf ceviriler. Giris icin kesinlikle okunmamasi gereken bir kitap.
8 sessions
292 pages
10h 59 min over 51 days
Pace: 2min 15s/page
Bu kitabi okumak gercek bir zulum oldu. Deprem felaketi kitap okumaktan bir sure uzaklastirdi. Yazilanlari anlamak oldukca guc oldu bir cok yeri tekrar tekrar okudum. Uzun cumleler degilin degilleri olumsuzluk ekleri, cok kotu bir yazi mi yoksa ceviri mi cok kotu anlayamadim. Oyle ki cogu yerde anlatiya paralel bir konu ayni zamanda dip notta anlatiliyor yaziya ilave edilip duzenlenmesi gerekirken. Eski kelimeler tuhaf ceviriler. Giris icin kesinlikle okunmamasi gereken bir kitap.
December 9, 2025
I got from a preloved bookseller online. As someone quite new to economics, this book is quite illuminating in that it highlights the main thrusts of the theories espoused by the economists chosen by the author. I am not versed in the various ideas to comment on their strengths and weaknesses. However, i appreciated the insight I have gotten from the book on the explanatory power of the economic models on income, investment, labour and interest. As an investor, I really like the discussion about economies of scale (Alfred Marshall) and the general impact of these monopolies to the nation.
January 2, 2023
I think one of my senior year Econ classes at Purdue in 1977 used this as a textbook. I probably cracked the cover a little.
You should definitely know about Austrian Economics if you want to be well rounded.
My cover looked different than this, was a brown hardback with about 4 faces imprinted in it.
I may have it up in the attic. Was a beautiful book.
You should definitely know about Austrian Economics if you want to be well rounded.
My cover looked different than this, was a brown hardback with about 4 faces imprinted in it.
I may have it up in the attic. Was a beautiful book.
January 8, 2024
Loved this. Pretty dry, if you aren’t in to economics and history then I wouldn’t bother. But if you are it will give you some great understanding of the post Marxian development of the western democratic capitalist system.
July 7, 2017
great
October 16, 2019
A very thorough historical overview of the greatest characters in the history of economics - a good introduction to the subject!
March 5, 2023
Beklediğimi bulamadım o yüzden bitirmek uzun sürdü ve zor oldu.
July 13, 2008
A great little treatise on some of the major economic philosophers from Smith to Keynes. It covers four schools: classical, Marxian, neo-classical and Keynesian. I'm about half-way through at this point. The text is well-written and well-structured, with manageably-sized chapters. It's written for the interested layman or undergraduate. A basic understanding of economics helps, but probably isn't necessary if you're smart and interested. I'll add more when I'm done with the book.
March 25, 2013
not bad, this book tackles the major 4 economic schools of thoughts:classic, keynesian, marxism, and neoclassic . however it focuses too much on classical economics whereas the general theory is not thoroughly explained. for a aspiring economist its an entertaining simple book.
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November 1, 2013Good book!
Displaying 1 - 15 of 15 reviews