By Mark Skousen
ISBN-10: 0765604809
ISBN-13: 9780765604804
An creation to the foremost financial philosophers due to the fact 1775. starting with Adam Smith and carrying on with via to the current day, this paintings examines the contributions made by means of each one person to the position of the economist, the technological know-how of economics, and monetary theory.
Reviews:
"A reference bible...what a completely perfect reward for faculty students." -- nationwide evaluate, June three, 2002
"One of the main unique books ever released in economics." -- Richerd Swedberg, collage of Stockholm, writer of 'Schumpeter: A Biography
"Skousen tells a superb story... not often informed, and tells it good. The ebook is unputdownable - attempt it and see." -- Mark Blaug, collage of Amsterdam, writer of
"Skousen's provocative and fascinating ebook demonstrates with type that economics is whatever however the dismal science." -- N. Gregory Mankiw, Harvard University
Read or Download The Making of Modern Economics: The Lives and Ideas of the Great Thinkers PDF
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Extra resources for The Making of Modern Economics: The Lives and Ideas of the Great Thinkers
Sample text
Smith strongly opposed the state’s efforts to regulate and artificially raise wages. qxd 20 10/08/2003 09:45 PM Page 20 CHAPTER 1 ulate the wages of workmen, it has always been rather to lower them than to raise them” (page 131). Like every worker, Smith desired high wages, but he thought they should come about through the natural workings of the labor market, not government edict. Finally, natural liberty includes the right to save, invest, and accumulate capital without government restraint—important keys to economic growth.
What is prudence in the conduct of every private family, can scarce be folly in that of a great kingdom,” declared Smith. “If a foreign country can supply us with a commodity cheaper than we ourselves can make it, better buy it of them” (page 424). REAL SOURCE OF WEALTH REVEALED The accumulation of gold and silver may have filled the pockets of the rich and the powerful, but what would be the origin of wealth for the whole nation and the average citizen? That was Adam Smith’s paramount question.
Laurence Iannaccone (Santa Clara University) tested Smith’s hypothesis on religious freedom, comparing attendance at church and the degree of religious monopoly in various Protestant and Catholic countries between 1968 and 1976 (Iannaccone 1991: 156–77); West 1990: 151–64). 3 shows an interesting phenomenon. 3 Church Attendance and Religious Concentration in Selected Countries Sources: Iannaccone (1991: 157); West (1990: 161). Reprinted by permission of Sage Ltd. Iannaccone’s test produced a striking result: church attendance rate varied inversely with church concentration in Protestant nations.
The Making of Modern Economics: The Lives and Ideas of the Great Thinkers by Mark Skousen
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