A History of Economic Theory

Jurg Niehans traces how the analytical tools of mainstream economics developed from the eighteenth century onward, telling the story through the economists themselves. A first part runs from the scholastic and mercantilist traditions through classical economics to Marx, a second follows marginalist economics from Thunen onward, and a final section reaches rational expectations by way of Pigou, Keynes and the era of model building. Alongside famous names such as Smith, Samuelson and Friedman, he discusses lesser-known theorists who still made classic contributions. For each theorist he gives a short biography, then describes, interprets and critically assesses the work. Niehans also analyzes the dynamics of scientific progress.

It appears among the books Eric Weinstein of Thiel Capital posted on Twitter after clearing out an office, a set he kept because they mattered to him.