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| Preface | |
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| Introduction and Overview | |
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| A Time Scale of Economic Ideas | |
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| The Five Major Questions | |
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| The Value of Studying Economics and Its History | |
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| Appendix History of Economic Thought: Information Sources | |
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| The Mercantilist School | |
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| Overview of Mercantilism | |
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| Past as Prologue 2-1 Mercantilism and the Supply of Labor | |
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| Thomas Mun | |
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| Past as Prologue 2-2 Lingering Mercantilism | |
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| Gerard Malynes | |
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| Charles Davenant | |
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| Jean Baptiste Colbert | |
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| Sir William Petty | |
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| The Physiocratic School | |
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| Overview of the Physiocrats | |
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| Francois Quesnay | |
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| Anne Robert Jacques Turgot | |
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| Past as Prologue 3-1 Quesnay and the Circular Flow Diagram | |
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| The Classical School-Forerunners | |
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| Overview of the Classical School | |
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| Sir Dudley North | |
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| Richard Cantillon | |
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| David Hume | |
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| Past as Prologue 4-1 Hume and Cooperation | |
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| The Classical School-Adam Smith | |
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| Biographical Details | |
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| Important Influences | |
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| The Theory of Moral Sentiments | |
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| Wealth of Nations | |
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| The Economic Laws of a Competitive Economy | |
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| Past as Prologue 5-1 Adam Smith and Efficiency Wages | |
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| The Classical School-Thomas Robert Malthus | |
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| Historical and Intellectual Setting | |
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| Malthus's Population Theory | |
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| The Theory of Market Gluts | |
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| Past as Prologue 6-1 Malthus, Carlyle, and the Dismal Science | |
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| Assessment of Malthus's Contributions | |
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| Past as Prologue 6-2 Malthus, Sen, and Modern-Day Famine | |
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| The Classical School-David Ricardo | |
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| Biographical Details | |
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| The Currency Question | |
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| The Theory of Diminishing Returns and Rent | |
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| The Theory of Exchange Value and Relative Prices | |
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| The Distribution of Income | |
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| Past as Prologue 7-1 The Ricardian Equivalence Theorem | |
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| Policy Implications | |
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| Past as Prologue 7-2 Trade Theory Since Ricardo | |
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| Ricardo on Unemployment | |
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| Assessment | |
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| The Classical School-Bentham, Say, Senior, and Mill | |
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| Jeremy Bentham | |
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| Past as Prologue 8-1 Aquinas, Bentham, and Fisher on Usury | |
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| Jean-Baptiste Say | |
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| Past as Prologue 8-2 Say and Rent Seeking | |
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| Nassau William Senior | |
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| John Stuart Mill | |
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| Past as Prologue 8-3 Mill, Taylor, and the Rights of Women | |
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| The Rise of Socialist Thought | |
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| Overview of Socialism | |
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| Henri Comte de Saint-Simon | |
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| Charles Fourier | |
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| Simonde de Sismondi | |
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| Robert Owen | |
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| Louis Blanc | |
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| Charles Kingsley | |
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| Marxian Socialism | |
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| Biographical Details and Intellectual Influences | |
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| Marx's Theory of History | |
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| The "Law of Motion" of Capitalist Society | |
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| The Law of Motion of Capitalism: A Summary | |
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| Assessment of Marx's Economics | |
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| Past as Prologue 10-1 The Collapse of Marxism | |
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| The German Historical School | |
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| Overview of the German Historical School | |
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| Friedrich List | |
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| Past as Prologue 11-1 List and Strategic Trade Theory | |
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| Wilhelm Roscher | |
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| Gustav Schmoller | |
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| Max Weber | |
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| A Postscript | |
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| The Marginalist School-Forerunners | |
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| Overview of the Marginalist School | |
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| Antoine Augustin Cournot | |
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| Past as Prologue 12-1 Extensions of Cournot�s Duopoly Theory | |
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| Jules Dupuit | |
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| Past as Prologue 12-2 Gossen: Utility and Belated Fame | |
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| Johann Heinrich von Th�nen | |
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| The Marginalist School-Jevons, Menger, von Wieser, and von B�hm-Bawerk | |
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| William Stanley Jevons | |
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| Past as Prologue 13-1 Jevons: Is Gambling Rational? | |
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| Carl Menger | |
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| Friedrich von Wieser | |
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| Eugen von B�hm-Bawerk | |
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| Past as Prologue 13-2 Franklin and Bastiat on Opportunity Cost | |
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| The Marginalist School-Edgeworth and Clark | |
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| Francis Y. Edgeworth | |
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| Past as Prologue 14-1 Jacob Viner's Cost Curves | |
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| John Bates Clark | |
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| Past as Prologue 14-2 Clark, Marginal Productivity, and Executive Salaries | |
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| The Neoclassical School-Alfred Marshall | |
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| Marshall's Life and Method | |
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| Utility and Demand | |
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| Past as Prologue 15-1 Behavioral Economics: Are We Rational? | |
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| Supply | |
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| Equilibrium Price and Quantity | |
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| Distribution of Income | |
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| Increasing and Decreasing Cost Industries | |
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| Past as Prologue 15-2 Why Do Firms Exist? | |
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| The Neoclassical School-Monetary Economics | |
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| John Gustav Knut Wicksell | |
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| Irving Fisher | |
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| Ralph George Hawtrey | |
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| Past as Prologue 16-1 Monetary Policy and the Great Recession | |
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| The Neoclassical School-The Departure from Pure Competition | |
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| Piero Srafra | |
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| Edward Hastings Chamberlin | |
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| Past as Prologue 17-1 Principals, Agents, and X-Inefficiency | |
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| Joan Robinson | |
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| Past as Prologue 17-2 Robinson, Monopsony, and Public Policy | |
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| Mathematical Economics | |
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| Types of Mathematical Economics | |
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| Past as Prologue 18-1 Advances in Econometrics | |
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| Leon Walras | |
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| Wassily Leontief | |
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| John von Neumann and Oskar Morgenstern | |
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| Past as Prologue 18-2 John Nash: Discovery, Despair, and the Nobel Prize | |
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| John R. Hicks | |
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| Linear Programming | |
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| The Institutionalist School | |
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| Overview of the Institutionalist School | |
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| Thorstein Bunde Veblen | |
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| Past as Prologue 19-1 Veblen Goods and Upsloping Demand Curves | |
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| Wesley Clair Mitchell | |
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| John Kenneth Galbraith | |
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| Past as Prologue 19-2 Douglass North and the New Institutionalism | |
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| Welfare Economics | |
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| Vilfredo Pareto | |
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| Arthur Cecil Pigou | |
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| Past as Prologue 20-1 Pigou and Coase on Externalities | |
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| Ludwig von Mises | |
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| Oscar Lange | |
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| Kenneth Arrow | |
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| James M. Buchanan | |
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| Amartya Sen | |
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| The Keynesian School-John Maynard Keynes | |
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| Overview of the Keynesian School | |
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| John Maynard Keynes | |
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| Past as Prologue 21 -1 Keynes and the Stockholm School | |
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| The Keynesian School-Developments since Keynes | |
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| Alvin H. Hansen | |
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| Past as Prologue 22-1 The Mundell-Fleming Contribution to IS-LM | |
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| Paul A. Samuelson | |
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| Past as Prologue 22-2 Abba Lerner and the "Keynesian Steering Wheel" | |
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| The Post-Keynesians | |
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| The New Keynesians | |
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| Past as Prologue 22-3 Competing Theories of the Great Recession | |
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| Theories of Economic Growth and Development | |
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| Sir Roy F. Harrod and Evsey Domar | |
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| Robert M. Solow | |
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| Joseph Alois Schumpeter | |
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| Past as Prologue 23-1 Schumpeter, Creative Destruction, and Antitrust Policy | |
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| Ragnar Nurkse | |
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| Past as Prologue 23-2 Yunus, Microcredit, and the Nobel Peace Prize | |
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| W. Arthur Lewis | |
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| Past as Prologue 23-3 The Todaro Criticisms of Lewis and Schultz | |
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| The Chicago School-The New Classicism | |
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| Overview of the Chicago School | |
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| Milton Friedman | |
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| Robert E. Lucas Jr. | |
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| Past as Prologue 24-1 From Stigler to "Lemons" | |
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| Gary S. Becker | |
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| Past as Prologue 24-2 Human Capital Formation? Or Screening and Signaling? | |
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| Concluding Thoughts | |
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| Past as Prologue 25-1 The Nobel Laureates in Economics | |
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| Name Index | |
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| Subject Index | |