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
About the author
Introduction
Chapter 1
Chapter 2

vi
vii
viii

Adam Smith - the 'founding father'

of economics

David Ricardo - from immigrant

to gentleman

27

Chapter 3

Karl Marx - the fallen hero?

49

Chapter 4

Alfred Marshall - microeconomics

arrives

71

John Maynard Keynes - the rise,

fall, rise ... and fall

91

Chapter 5
Chapter 6
Chapter 7
Chapter 8
Chapter 9

Friedrich Hayek - the archetypal

libertarian

119

Milton Friedman - father of

monetarism

145

Paul Samuelson - the neoclassical

synthesist

167

Gary Becker - economics in the

real world

193

Chapter 10 Daniel Kahneman - economic

psychologist
Index

217
238