In Economics in Perspective, renowned economist John Kenneth Galbraith presents a compelling and accessible history of economic ideas, from Aristotle through the twentieth century. Examining theories of the past that have a continuing modern resonance, he shows that economics is not a timeless, objective science, but is continually evolving as it is shaped by specific times and places. From Adam Smith's theories during the Industrial Revolution to those of John Maynard Keynes after the Great Depression, Galbraith demonstrates that if economic ideas are to remain relevant, they must continually adapt to the world they inhabit. A lively examination of economic thought in historical context, Economics in Perspective shows how the field has evolved across the centuries.
John Kenneth Galbraith (1908-2006) was one of the most influential economists of the twentieth century. He was professor of economics at Harvard University and served as U.S. ambassador to India during the Kennedy administration. He wrote more than fifty books, including American Capitalism, The Affluent Society, and The New Industrial State (Princeton).
Foreword ix Richard Parker To Acknowledge xix 1 A Look at the Landscape 1 2 After Adam 10 3 The Enduring Interim 23 4 The Merchants and the State 35 5 The French Design 51 6 The New World of Adam Smith 63 7 Refinement, Affirmation-and the Seeds of Revolt 80 8 The Great Classical Tradition, 1: Around the Margins 98 9 The Great Classical Tradition, 2: The Mainstream 113 10 The Great Classical Tradition, 3: The Defense of the Faith 124 11 The Grand Assault 139 12 The Separate Personality of Money 154 13 American Concerns: Trade and Trusts; Enriched and the Rich 170 14 Completion and Criticism 195 15 The Primal Force of the Great Depression 211 16 The Birth of the Welfare State 229 17 John Maynard Keynes 241 18 Affirmation by Mars 259 19 High Noon 274 20 Twilight and Evening Bell 290 21 The Present as the Future, 1 307 22 The Present as the Future, 2 318 Index 327