The definitive guide to the history of economic thought, fully revised twenty years after first publication Roger Backhouse's definitive guide takes the story of economic thinking from the ancient world to the present day, with a brand-new chapter on the twenty-first century and updates throughout to reflect the latest scholarship. Covering topics including globalisation, inequality, financial crises and the environment, Backhouse brings his breadth of expertise and a contemporary lens to this original and insightful exploration of economics, revealing how we got to where we are today.

These volumes gather together a selection of autobiographical essays written by significant economists whose work is generally recognized to be at the forefront of the discipline as we enter the twenty-first century. The essays are largely based on introductions to volumes in the Edward Elgar series Economists of the Twentieth Century (which collects together the key papers of these economists). This volume focuses on leading economists who were born, or have spent the greater part of their lives, in Europe, Asia and Australasia. The main chapters are accompanied by an introduction in which the editors place the autobiographical essays in a wider context. Economists will be fascinated by: * the stories that lie behind familiar names * why economists approach problems the way they do * how careers develop * how economists view what they are doing. These are all points that are invisible to those who simply read the published output of economics, so readers will gain personal insights into the development of the field. The books will be a valuable resource for economists, particularly historians of economic thought, as well as sociologists concerned with the economics profession, and those interested in the creative process and the social and scientific development of economics.

Truth and Progress in Economic Knowledge provides a new perspective on economic methodology, specifically addressing progress in economic knowledge. This important investigation argues that economic methodology is developed through analysing economics, not through imposing a framework developed in other sciences.Roger Backhouse begins his discussion by defending economic methodology both against economists who object to it on practical grounds and post-modern critics who argue that the notion of methodology makes no sense. He then explores the concept of progress, drawing on ideas from Kuhn, the notion of pragmatism and the Popperian tradition. The discussion develops to examine theoretical economics, considering Lakatos's concept of informal mathematics, analysing replication in economics and the use of econometrics and informal empirical methods to test economic theories. The author argues that replication is not simply an econometric problem, but a problem for economics, as it involves both the nature of economic theory and the way in which economists use economic results. This new approach to economic methodology will be of special interest to academics, philosophers with an interest in economics and social sciences, and students of economic methodology.

Roger Backhouse is a key figure in the field of economic methodology. Explorations in Economic Methodology both clarifies and responds to the issues raised by the literature and argues that methodology is an essential activity. Offering a constructive, but critical, response to the recent literature, this collection provides important new insights for students and researchers in economic methodology and the philosophy of science.

Economics is an established academic discipline, yet its methods and style of argumentation are far from being well understood. In the mid-1990s attempts have been made to understand economics through applying ideas from the philosophy of science, and especially from the writings of Popper, Kuhn and Lakatos and through economic rhetoric. The result has been controversial, with one school arguing that methodology is a fruitless exercise. This collection of essays seeks to both clarify and respond to the issues raised by the mid-1990s' literature and argues that methodology is an essential activity. The book begins with an application of Lakatos' methodology of scientific research programmes to contemporary macroeconomics and subsequent chapters go on to discuss questions raised by this approach. These argue that although the methodology has severe limitations, it nevertheless provides a useful starting point. After discussing, the approaches to methodology of some practising economists, the final chapters consider the perspectives on economics that result from pragmatism and empirical philosophy of science. This book should be of use to researchers and students interested in economi

First published in 1993. Routledge is an imprint of Taylor and Francis, an informa company.

This volume explores the different ways in which the history of macroeconomic thought can be written. Three historiographical chapters criticize both relativism and constructivism, arguing instead for an eclectic, pluralistic approach. The remaining chapters demonstrate the advantages of this, by adopting a range of approaches to the history of macroecononmic thought. The ideas of pre-Keynesian economists are analyzed from the perspective of modern economic theory. The story of macroeconomics since Keynes is told in three ways: a history without methodology, a methodological appraisal of Keynesian economics, a Lakatosian rational reconstruction in which monetarism and Keynesianism are viewed as part of the same research programme. Rhetorical analysis is applied to the work of Milton Friedman, John Muth, and Axel Leijonhufvud.

"Interpreting Macroeconomics" explores a variety of different approaches to macroeconomic thought. The book considers a number of historiographical and methodological positions, as well as analyzing various important episodes in the development of macroeconomics, before during and after the Keynesian revolution. Roger Backhouse shows that the full richness of these developments can only by brought out by approaches which blend both relativism and absolutism, and historical and rational reconstructions. Examples discussed include Hobson, Keynes and Friedman. The author has also published "New Directions in Economic Methodology" (June 1994).

Recent years have witnessed a dramatic growth in interest in economic methodology. However this work has moved in a number of significantly different directions, and it is not easy to see how several of these might be reconciled. The virtual consensus on some variant of the "falsificationism" associated with Kuhn, Lakatos and Popper that had emerged by the late 1970s has gone, and has been replaced by a range of more or less exclusive approaches. In "New Directions in Economic Methodology", some of the figures most closely associated with the most important of these new approaches provide new and definitive statements of their positions. The result reflects the diversity of work currently undertaken in economic methodology. Much, but no means all, of this work reflects a disatisfaction with the current practice of economics and in the course of the book various attempts to reform or replace existing practice are proposed. The book begins with chapters which examine some of the big questions which underlie economics. What are - and what should be - the aims of economics? How might these be pursued? It proceeds with a section which considers what is left of "falsificationism".

In recent years there has been a flowering of work on economic methodology. However there is no longer any consensus about which direction this should take or, indeed, even what the role and content of economic methodology should be. This book reflects this diversity. Its contributors are responsible for the major developments in this field and together they give an account of all the major positions which currently prevail in economic methodology. These include attempts to rehabilitate the 'falsification' of Kuhn, Lakatos and Popper, sociology of knowledge approaches, different forms of realism, contributions from the 'rhetoric' projectj and other perspectives which also view the economy as a text.

Twentieth-century philosophy has been dominated by issues concerned with language. These have left few areas of academic enquiry untouched; an awareness of language matters to a discipline because claims to knowledge can be made only by using language. However, economists have only come to recognize its importance relatively recently. Moreover whilst there has been much written on the subject of economics and language in the last decade, this has been dominated by the use of techniques borrowed from literary criticism. Whilst these have provided many valuable insights, they have tended to conceal the features of economics writing which distinguish it from writing in other disciplines. "Economics and Language" takes a broader view. Its approach is interdisciplinary, and it includes contributions from economists, linguists and literary theorists. It moves from chapters on the wider methodological implications of language issues within economics, to an analysis of how economic texts work. This ensures that methodological discussion is related directly to the practices of economics.

Denis O'Brien has made an outstanding contribution to economics, and the history of economic thought in particular. This selection of original essays, by a distinguished group of contributors, pays tribute to his work in the areas of the history of economic analysis and methodology.The book opens with a preface by R.D. Collison Black which is followed by a biographical introduction to Denis O'Brien's career and his contributions to economics, including a full list of his publications. The authors then explore areas where Denis O'Brien has made an important mark: classical economics, the history of monetary economics, Marshall and microeconomics, and economic methodology. This book will be welcomed by academics and students of economic history, the history of economic thought and methodology.

From riddles to proverbs, from jingles to jokes, from mnemonics to pig Latin to dueling with words, speech play is central to social life in all of its forms. These essays describe a variety of speech play genres, formulate the "rules" for play with language, and discuss the relevance of speech play to current issues in linguistic theory, cognitive development, and the ethnography of speaking.

The Great Recession of 2008 restored John Maynard Keynes to prominence. After decades when the Keynesian revolution seemed to have been forgotten, the great British theorist was suddenly everywhere. The New York Times asked, What would Keynes have done? The Financial Times wrote of the undeniable shift to Keynes. Le Monde pronounced the economic collapse Keynes s revenge. Two years later, following bank bailouts and Tea Party fundamentalism, Keynesian principles once again seemed misguided or irrelevant to a public focused on ballooning budget deficits. In this readable account, Backhouse and Bateman elaborate the misinformation and caricature that have led to Keynes s repeated resurrection and interment since his death in 1946.

Keynes s engagement with social and moral philosophy and his membership in the Bloomsbury Group of artists and writers helped to shape his manner of theorizing. Though trained as a mathematician, he designed models based on how specific kinds of people (such as investors and consumers) actually behave an approach that runs counter to the idealized agents favored by economists at the end of the century.

Keynes wanted to create a revolution in the way the world thought about economic problems, but he was more open-minded about capitalism than is commonly believed. He saw capitalism as essential to a society s well-being but also morally flawed, and he sought a corrective for its main defect: the failure to stabilize investment. Keynes s nuanced views, the authors suggest, offer an alternative to the polarized rhetoric often evoked by the word capitalism in today s political debates.

As a broad introduction to the history of economic thought - based on courses the authors have taught for many years - this book provides a magisterial overview for students and teachers who have not had the opportunity to cover the development of the field of economics in its historical context. The text is presented as a series of twenty-four lectures, which can be used as the basis for self-study or for the delivery of a course. Each lecture presents an outline of aims, a select bibliography, a chronology, an overview of between 3,000 and 4,000 words, and questions for further study or reflection. Contemporary understanding of economic principles sheds little light on the manner in which past thinkers thought, so the reader is provided with the much-needed context behind the development of ideas, as well as being guided through the original writings of economists such as Smith, Jevons, Marshall, Robbins, Keynes and others. The emphasis is on the broad developing stream of economic argument from the seventeenth century to the present, seeking to emphasize a diversity that is sometimes suppressed in more conventional textbooks, which tend to organize their histories into sequences of schools of thought. Backhouse and Tribe bring their considerable insight and knowledge to bear on the text, having honed their presentation to the needs of those with no previous background in the subject, without sacrificing analysis or rigour. The book will be warmly welcomed by students and teachers alike.

"Roger Backhouse's new history of economics is just what is needed: a short but still comprehensive history of economic thought which can be read with profit not only by economists but also by a variety of noneconomists, such as historians, philosophers, sociologists, and so on. Complex ideas are summarized with exemplary clarity, and the book practically reads itself. "The Ordinary Business of Life" is a find."--Richard Swedberg, Stockholm University, author of "Max Weber and the Idea of Economic Sociology"

"In recent years many new sub-fields of economics have undermined the grand 'neoclassical synthesis' of the mid-twentieth century. Readers of this concise yet sweeping survey will see clearly that today's major dissenting schools, like neoclassical economics itself, have deep roots in the discipline's rich classical heritage. Roger Backhouse has written an elegant and thoroughly enjoyable book that will enable a broad audience to appreciate both the continuities of economic thought and its unavoidable inner tensions."--Timur Kuran, Professor of Economics and Law and King Faisal Professor of Islamic Thought and Culture, University of Southern California

"Roger Backhouse provides what is perhaps the most readable history of the dismal science, describing the role of economic ideas in shaping the way we live and think from the ancient world to the present. Although it is obviously difficult to describe how economic models and theories evolved over several millennia, Mr. Backhouse has succeeded admirably. Few books can claim to provide such an accessible and complete cataloging of the role that economic ideas have played in the 'ordinary business of life.' "--George Borjas, Harvard University, and author of "Heaven's Door: Immigration Policy and the American Economy"

"Backhouse is perhaps the best person in the world to write this historian's history of economic thought. His is the history of the visions, not the technical tools, of the great economic traditions and schools. His deep knowledge of economic theory shows on every page."--Herbert Gintis, University of Massachusetts, author of "Game Theory Evolving"

This scarce antiquarian book is included in our special Legacy Reprint Series. In the interest of creating a more extensive selection of rare historical book reprints, we have chosen to reproduce this title even though it may possibly have occasional imperfections such as missing and blurred pages, missing text, poor pictures, markings, dark backgrounds and other reproduction issues beyond our control. Because this work is culturally important, we have made it available as a part of our commitment to protecting, preserving and promoting the world's literature.