Economists are sometimes praised and often chastised for what
happens to the nation and the world economies. But what exactly do
economists do to earn either praise or scorn? Author Attiat F. Ott
with Sheila Vegari explores the answer to that question in "What
Economists Do: A Journey through the History of Economic
Thought."
Ott and Vegari outline the discipline of economics through the
views and ideas of nine political economists of the seventeenth,
eighteenth, nineteenth, and the twentieth centuries. The
chronologies of ideas involve a journey through the history of
economic thought from Adam Smith's The "Wealth of Nations" to Nobel
Laureate James Buchanan's "The Calculus of Consent."
This study reviews some of the arguments offered about economics
as a science, presents the concepts of political economy, and
discusses the principles of the macro economy as put forth by John
Maynard Keynes in "The General Theory." It also covers the idea of
the public economy advanced by the classical economists and
augmented by the work of Paul Samuelson, Richard Musgrave, Gordon
Tullock and James Buchanan. It examines the role of the economist
as a teacher, a political economist, and as an adviser to policy
makers.
"What Economists Do: A Journey through the History of Economic
Thought" provides an intriguing picture of how economics has come
of age through a chronology of ideas and principles that shape the
world's economies.
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