The Big Three in Economics: Adam Smith, Karl Marx, and John Maynard Keynes

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M.E. Sharpe
4 Reviews
History comes alive in this fascinating story of opposing views that continue to play a fundamental role in today's politics and economics. "The Big Three in Economics" traces the turbulent lives and battle of ideas of the three most influential economists in world history: Adam Smith, representing laissez faire; Karl Marx, reflecting the radical socialist model; and John Maynard Keynes, symbolizing big government and the welfare state. Each view has had a significant influence on shaping the modern world, and the book traces the development of each philosophy through the eyes of its creator. In the twenty-first century, Adam Smith's "invisible hand" model has gained the upper hand, and capitalism appears to have won the battle of ideas over socialism and interventionism. But author Mark Skousen shows that, even in the era of globalization and privatization, Keynesian and Marxian ideas continue to play a significant role in economic policy.
 

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An enlightening book which provides an overview of the interactions of the three major branches of economic thought. Not impartial, but honest. If you can overcome his inability to hide his unfavorable opinion of non-conservative thinkers is a book with which to learn.
Un libro esclarecedor en el que ofrece una visión de las interacciones de las tres grandes ramas del pensamiento económico. Quizá un tono paternalista con las tendencias no conservadoras. No es un escritor imparcial, pero si honesto. Si se sabe perdonar su incapacidad para ocultar su opinión desfavorable es un libro con el cual aprender.
 

Contents

Adam Smith Declares an Economic Revolution in 1776
3
From Smith to Marx The Rise and Fall of Classical Economics
46
Karl Marx Leads a Revolt Against Capitalism
64
From Marx to Keynes Scientific Economics Comes of Age
105
John Maynard Keynes Capitalism Faces Its Greatest Challenge
133
A Turning Point in TwentiethCentury Economics
163
Conclusion Has Adam Smith Triumphed Over Marx and Keynes?
191
Bibliography
219
Index
231
About the Author
243
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