In light of current events, I decided to pick up a book on economics. “The Worldly Philosophers: The Lives, Times and Ideas of the Great Economic Thinkers” by Robert L. Heilbroner was a my choice. You may have seen this book sometime in your past. It has had a long life as a textbook in intermediate economics courses. I happened to have the 6th edition, but it is now in a 7th edition.
This book is an overview of the history and development of economic thought. It starts with Adam Smith and covers well known figures like Karl Marx and John Maynard Keynes. It also has chapters on lesser known (at least to me) people, such as Malthus and Ricardo.
I think this book bridges the abyss between dry academics and anecdotal fluff. You will not find the usual pages f charts and graphs. You will find a succinct summary of each significant development in economic thought and the historical context in which these ideas germinated. It provides a foundation of understanding of the economic terms being hurled around by pundits and talking heads, and some insight into why words like “capitalist” and “socialist” have become epitaphs.
To me the most interesting chapters were the ones about Veblen and Schumpeter. I was not familiar with either of these men or their contribution to the debate on human behavior, politics and economics.
If you are interested in having a better frame of reference for the debate on the place of government and the open market in our future, this book is a great place to start. If you interest is piqued, there is a 'Guide for further readong" at the end of the book that discusses many other economic tomes.
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