New Ideas from Dead Economists: An Introduction to Modern Economic Thought (Penguin Business)

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9780140283136: New Ideas from Dead Economists: An Introduction to Modern Economic Thought (Penguin Business)

'Outstanding ...Fun to read' - "Wall Street Journal". Would Karl Marx have to revise his theories since the collapse of the Soviet Union? What would Adam Smith make of the Japanese economic miracle turning into an economic morass? The great economists of the past 200 years may no longer be with us, but their ideas are very much alive - and they have vital relevance to today's increasingly complex economic picture. In this witty book, Buchholz takes age-old economic theories and applies them to contemporary issues. Featuring material on the latest shifts in the world economy, this is a fascinating, balanced guide to understanding the economy, past and present.

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Review:

Over 150 years ago, Scottish essayist Thomas Carlyle dubbed economics the "dismal science." But it certainly doesn't seem that way in the skillful hands of Todd G. Buchholz, author of New Ideas from Dead Economists. In this revised edition of a book first published in 1989, economics is accessible, relevant, and fascinating. It's even fun--for example, when he uses the cast of Gilligan's Island and Henny Youngman jokes to explain complex economic theories. "Why not have the last laugh on Carlyle by using the dead economists themselves to reverse their bad reputations and to teach the lessons they left to us?"

Buchholz surveys and critiques economic thought from Adam Smith's invisible hand of the 18th century to the depression-fighting ideas of the Keynesians and money-supply concepts of the 20th-century monetarists. He also relates classic economic principles to such modern-day events as the fall of communism, the Asian financial meltdown, and global warming. Buchholz includes plenty of anecdotes about the lives of the great economists: Karl Marx, for instance, was an unkempt slob; David Ricardo, the early-19th-century English politician and economist, was among the rare economists to get rich trading stocks; and Maynard Keynes was so homely his friends called him "Snout." Here's a lively and authoritative read for those interested in the past, present, and future of economics. --Dan Ring

About the Author:

Todd G Buchholz is an internationally acclaimed economist who advises some of the world's leading investment funds. He has served as a director of economic policy and holds advanced degrees from Cambridge and Harvard universities. He lives in Washington DC.

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Buchholz, Todd G.
Published by Penguin Books Ltd (1999)
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Buchholz, Todd G.
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