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Making Of Economics, The (4th Edition) - Vol Iii: The Radical Assault (Hardcover, 4th Revised edition)
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Making Of Economics, The (4th Edition) - Vol Iii: The Radical Assault (Hardcover, 4th Revised edition)
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This book is the first in the field to cover exclusively the modern
radical economists. Science has always had its radicals; economics
is unexceptional in this regard. The book begins with the persona
of Karl Marx and his soulmate Friedrich Engels, the most radical of
all, continuing with the central ideas of Marx, including his
theory of capitalism and an understanding of why, in Marx's view,
capitalism is doomed. Thereafter, Thorstein Veblen fills the role
as the USA radical who founded the only uniquely American school of
economics - the institutionalist school. This is followed by Joseph
Schumpeter and his theory of capitalist motion. According to
Schumpeter, the demise of capitalism is self-inflicted through
creative destruction. The bestselling authors, Robert Heilbroner
and John Kenneth Galbraith, straddle both the insitutionalist and
Post Keynesian schools. The new left radicals emanated from
Galbraith's Harvard University and are still around today. The
heyday of the new right came during the administration of Ronald
Reagan and was led by the neo-Austrians. Finally, the book
concludes by analyzing the Post Keynesians' claim to be the
legitimate heirs to Keynesianism. Thus far, they fall into the
radical camp.This book is also available as a .
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