A Little History of Economics (Little Histories)

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In these blinks, we’ll learn the history of the field, from the ancient Greeks to the cowboy (and girl) bankers who triggered the global financial collapse of 2007. Perhaps by considering how earlier economists sought to explain their own times, we can see our own more clearly.

A lively, inviting account of the history of economics, told through events from ancient to modern times and through the ideas of great thinkers in the field What causes poverty? Are economic crises inevitable under capitalism? Is government intervention in an economy a helpful approach or a disastrous idea? The answers to such basic economic questions matter to everyone, yet the unfamiliar jargon and math of economics can seem daunting. This clear, accessible, and even humorous book is ideal for young readers new to economics and for all readers who seek a better understanding of the full sweep of economic history and ideas. Economic historian Niall Kishtainy organizes short, chronological chapters that center on big ideas and events. He recounts the contributions of key thinkers including Adam Smith, David Ricardo, Karl Marx, John Maynard Keynes, and others, while examining topics ranging from the invention of money and the rise of agrarianism to the Great Depression, entrepreneurship, environmental destruction, inequality, and behavioral economics. The result is a uniquely enjoyable volume that succeeds in illuminating the economic ideas and forces that shape our world What I enjoyed about this book is how simply and easily the author covers the highlights throughout the history of economics, paying attention to the key ideas and theories as well as influential figures, but without overwhelming an unfamiliar reader such as myself with too much information. After all, the reason why I'm reading this book is to find out just a LITTLE history (and also because it's my reading club's book for April). As a layperson I understand I'm not supposed to become an economics expert from reading this book. This book is merely a good, friendly primer to give me a rough idea of things and to point out the extent of my ignorance when it comes to economic theories. A pleasurable and easy way to become familiar with important economic ideas such as comparative advantage, unemployment, aggregate demand, inflation, and income inequality."—Foreign Affairs The intended audience seems to be high school students in advanced-placement courses or undergraduates in introductory economics or history-of-ideas courses. Perhaps elders, reading for enrichment, would also like this book. Kishtainy does an excellent job for this audience. The writing is crisp, to the point, and almost journalistic. Although brevity and simplicity risk omission or oversimplification, there seem to be no blatant errors.A deft, highly readable history of economics, full of humanity. You'll learn a lot — I did."—Tim Harford, author of Messy and The Undercover Economist Francis Drake (154.-1596): Kraliçe tüccar ittifakı: “Merkantilizm”. Zenginlik altın ve gümüştür. İthalat kötüdür (“Midas Yanılgısı”: herşey altındır, yiyecek bir şey yoktur. Altın yığını üzerinde oturan “Hobbit ejderhası Smaug” misali).

There is, however, a significant oversight in the book: Kishtainy focuses almost exclusively on the contributions of white, western men. Shouldn’t a history of economics—however ‘little’—include reference to the economic ideas that developed in ancient China and India? The Arthashastra, for instance, was an ancient Indian text that informed economic policy in the empires of South Asia for centuries. Or what about Islamic economics, which flourished as early as the eighth century and still influences much of the banking world today? Aristotle’s grumbling didn’t have much of an impact on the development of an economy, though. Commerce, once it had begun, was here to stay.Those who refuse to learn from the past are doomed to repeat it. Economics can help guide policy in a sensible direction; but the misuse of economics has also left individuals, companies, and countries in ruin. To understand what economics has got right—and to avoid repeating its mistakes—read this book."—Simon Johnson, Professor at MIT Sloan and author of 13 Bankers