In order to fully understand the evolution and future growth of economic systems, we must draw on the lessons of economic history. Historical analysis is crucial to understanding trends and patterns that can help us predict the future. The Evolution of Economic Ideas and Systems continues to present a groundbreaking pluralist introduction to economic history and the history of economic thought.
Tracing the development of economic systems and economic thought, the text introduces students to the story from ancient times to contemporary capitalism, and also its critics. Focusing, in particular, on Smith, Marx, Veblen, and Keynes, the text encourages students to consider which ideas and systems are still relevant in the modern world. This second edition includes brand-new chapters on the role of government in modern micro- and macroeconomic systems, inequality, climate change and environmental regulations, economic growth and globalization, as well as a concluding chapter exploring modern themes in economic systems. There is also additional material on non-Western economic systems, and the views of economists and anthropologists on economic behavior.
A comprehensive package of supplementary teaching resources is also available for instructors. The Evolution of Economic Ideas and Systems remains an ideal standalone text for relevant classes or as a supplement to standard texts.
Table of Contents:
PART I Pluralist economics and early systems: An introduction 1. What is economics? The answer depends on who you ask 2. The evolution of pre-capitalist economic systems: From communalism to empires, feudalism, and mercantilism in Europe 3. The different paths taken by Asia, the Middle East, Africa, and the Americas: The evolution of non-European economic systems PART II The evolution of economic systems and ideas 4. Adam Smith and the rise of capitalism: The era of laissez-faire 5. Karl Marx and the dark ages of capitalism: Historical materialism, surplus value, and the exploitation of labor 6. Thorstein Veblen and monopoly capitalism: The rise of manufacturing and the fall of laissez-faire 7. Keynes and mixed market capitalism: How to save capitalism from itself 8. Modern economic systems: Market-dominated, social market, and state-dominated economies PART III Culture, government, and markets 9. Culture, values, and public goods: How culture shapes the provision of public goods, health care, and education 10. Inequality, a key modern issue: Class, race, gender, and distribution 11. The economics of the environment and climate change: The different approaches of developed countries PART IV Macroeconomic issues and problems 12. Macroeconomic well-being and policy: Measuring and achieving goals for the macroeconomy 13. Economic growth: The forces that stimulate economic development 14. Trade, globalization, and modern economic systems: Unregulated trade and integration versus protectionism and separation 15. Conclusion: Whither economic systems? On the evolution of economic systems in the modern era Glossary of key terms and concepts
