History of Western Economic Thought

Author: Ge Yang Li Xiaorong
Publisher:
Publish Date: 2003-08-01
Features: The history of economic thought is a discipline that studies the origin and evolution of economic theories. The history of Western economic thought showcases the development of Western economics over several centuries and the theoretical contributions of Western economists throughout history. The emergence of economic thought can be traced back to the early founders of notable economic thought in ancient Greece. Although some thinkers offered insights on economic issues at the time, their ideas were often fragmented and unsystematic. Therefore, before Adam Smith, economics had not yet become an independent discipline. If we take the publication of Adam Smith's The Wealth of Nations in 1776 as the mark of the formation of economics, then the history of economics has only been about 200 years to date. This book provides a systematic introduction to the evolution of economic thought from ancient Greece to the mid-20th century. It not only outlines ancient economic thought but also introduces the main theoretical viewpoints of major schools of economic thought, such as mercantilism, the Physiocrats, the Austrian School, mathematical economics, institutional economics, and welfare economics. It places particular emphasis on providing a more detailed elaboration of the economic thought of famous economists since Adam Smith. In the exposition, it strives to be comprehensive, objective, and impartial. The book endeavors to incorporate the latest research findings in academia and draws on the strengths of various sources. It also explores the research methods of economics, the relationships between different schools and scholars, as well as the historical context. Additionally, it analyzes the theoretical innovations of famous economists in history and their historical significance in the history of economic thought, enabling readers to gain a fundamental understanding of the basic theories, main content, and research methods of the history of economic thought.