The Great

Economists

Ten Economists Whose

Thinking Changed the Way

We Live

Phil Thornton

PEARSON

Marlow, England London New York Boston * San Francisco Toronto Sydney Auckland Singapore Hong Kong Tokyo Seoul Taipei * New Delhi Cape Town So Paulo Mexico City Madrid Amsterdam Munich Paris Milan

Contents

Acknowledgements vi

About the author vii

Introduction viii

Chapter 1 Adam Smith - the 'founding father' of economics 1

Chapter 2 David Ricardo - from immigrant to gentleman 27

Chapter 3 Karl Marx - the fallen hero? 49

Chapter 4 Alfred Marshall - microeconomics arrives 71

Chapter 5 John Maynard Keynes - the rise, fall, rise ... and fall 91

Chapter 6 Friedrich Hayek - the archetypal libertarian 119

Chapter 7 Milton Friedman - father of monetarism 145

Chapter 8 Paul Samuelson - the neoclassical synthesist 167

Chapter 9 Gary Becker - economics in the real world 193

Chapter 10 Daniel Kahneman - economic psychologist 217

Index 238

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