History of Economic Thought

Download or read book History of Economic Thought written by V. V. Reddy and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic thinking has a long history dating back to pre-Christian era. References to economic ideas and practices are found in Vedas, Bible and Koran in the form of commandments and instructions. Economics for long was regarded as the art of house keeping/management. In fact, Economy was the title of a book by an ancient Greek historian and philosopher Xenophon (434-355 B.C.). Aristotle was another ancient Greek thinker (384-322 B.C) who authored many works on philosophy, natural sciences and socio-economic problems. Another well-known Greek who reflected on economic matters was Plato, the author of the famous work, The Republic. The exploitation of the proletariat (workers) under capitalism led to the writings of Karl Marx (1818-1883), a German philosopher with revolutionary zeal. He published two epoch-making works in collaboration with his friend and benefactor Friedrich Engels (1820-1895): The Communist Manifesto (1848) and Das Capital (1867). These two works immensely influenced the thinking of the contemporary world. From the chaos of the depression of the early 1930s grew the ideas of John Maynard Keynes (1883-1946) which are relevant to this day. This book is an attempt to rekindle interest in the history of economic ideas.