A Concise History of Economic Thought

1. Front Matter

   Pages i-xviii

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2. Classical Political Economy, 1600–1870

   1. Front Matter

      Pages 1-1

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   2. Introduction: from Mercantilism to Marx

      • Gianni Vaggi, Peter Groenewegen

      Pages 3-11

   3. Seventeenth-century Pioneers

      1. Thomas Mun, 1571–1641: from Bullion to Foreign Trade

         • Gianni Vaggi, Peter Groenewegen

         Pages 13-22

      2. Dudley North, 1641–91 and John Locke, 1632–1704: Early Critical Reactions to Mercantilism

         • Gianni Vaggi, Peter Groenewegen

         Pages 23-28

      3. Sir William Petty, 1623–87: Division of Labour and Surplus

         • Gianni Vaggi, Peter Groenewegen

         Pages 29-36

   4. Developments in French Economics

      1. Pierre le Pesant Sieur de Boisguilbert, 1646–1714: France at the turn of the century

         • Gianni Vaggi, Peter Groenewegen

         Pages 37-45

      2. Richard Cantillon, 1697–1734: the Entrepreneur in Agriculture and Trade

         • Gianni Vaggi, Peter Groenewegen

         Pages 46-53

   5. Towards a Mature Classical Political Economy

      1. François Quesnay, 1694–1774: Reproduction and Capital

         • Gianni Vaggi, Peter Groenewegen

         Pages 55-70

      2. David Hume, 1711–76 and the Scottish Enlightenment

         • Gianni Vaggi, Peter Groenewegen

         Pages 71-81

      3. Ferdinando Galiani, 1728–87 and Sir James Steuart, 1713–80: Real Value and Corn Trade

         • Gianni Vaggi, Peter Groenewegen

         Pages 82-91

      4. Anne Robert Jacques Turgot, 1727–81: Investments and Returns

         • Gianni Vaggi, Peter Groenewegen

         Pages 92-99

   6. The First Full Systems of Classical Political Economy

      1. Adam Smith 1723–90: National Wealth and the Productivity of Labour

         • Gianni Vaggi, Peter Groenewegen

         Pages 101-116

      2. Jean-Baptiste Say, 1767–1832 and Jean-Charles Simonde de Sismondi, 1773–1842: Value, Revenues and Crises

         • Gianni Vaggi, Peter Groenewegen

         Pages 117-125

   7. The ‘Golden Age’ of Classical Political Economy

      1. Thomas Robert Malthus, 1766–1834: Population and Effectual Demand

         • Gianni Vaggi, Peter Groenewegen

         Pages 127-136

      2. David Ricardo, 1772–1823: the Rate of Profit

         • Gianni Vaggi, Peter Groenewegen

         Pages 137-148

      3. Torrens, Senior and the Aftermath of Ricardo

         • Gianni Vaggi, Peter Groenewegen

         Pages 149-158

      4. Karl Marx, 1818–83: the Critique of Political Economy

         • Gianni Vaggi, Peter Groenewegen

         Pages 159-175

3. Modern Developments, 1870–1960

   1. Front Matter

      Pages 177-177

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   2. Introduction: the Coming of Marginalism and Macro-economics

      • Gianni Vaggi, Peter Groenewegen

      Pages 179-188

This book presents a brief history of economic thought from the 17th century to the present day. Each chapter examines the key contributions of a major economist or group of economists and includes suggestions for further reading. Economists covered include Keynes, Marshall, Petty and Jevons, and less familiar theorists such as Galiani and Turgot.

• capital theory
• economics
• History of Economic Thought
• John Maynard Keynes
• Keynes
• Turgot

' A Concise History of Economic Thought is exactly the book I have always wanted to prescribe for undergraduate classes in the history of economic thought. Written by two eminent scholars, it provides a clear convincing outline of the principal developments in our discipline combined with clear, absorbing accounts of the major episodes, contributors and their contributions on the way. It is an authoritative and definitive text, a wonderful read, an example of mature scholarship at its best, backed up by well chosen additional readings in each chapter.' - G.C. Harcourt, Jesus College, Cambridge, UK

• University of Pavia, Italy

  Gianni Vaggi

• University of Sydney, Australia

  Peter Groenewegen

GIANNI VAGGI is Professor of Development Economics at the University of Pavia, Italy where he is also the Director of the European School of Advanced Studies in Cooperation and Development. He has published a large number of articles as well as two books: The Economics of Francois Quesnay and From the Debt Crisis to Sustainable Development.

PETER GROENEWEGEN is Emeritus Professor of Economics at the University of Sydney, Australia. He has published a number of books on the history of economic thought, including a widely acclaimed biography of Alfred Marshall, a collection in translation of Turgot's major writings on economics, and three volumes of his essays on the history of economics. As Director of the Centre for the Study of the History of Economic Thought from 1989 to 2003, he edited several volumes of conference proceedings on subjects ranging from economics and ethics, to women and economics, and physicians and political economy, as well as a series of reprints of economic classics. In 2005 his services to the subject were recognised by both the History of Economics Society which named him as one of its distinguished fellows, and the European Society of the History of Economic Thought which made him one of its honorary members.

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