Academic-Capital

The world economic system is changing and people are adjusting rapidly to new ways of living. Modern economics is full of wonder and predictions that are based in a number of assumptions from theorist history. Sylvia Nasar puts in perspective the history of economic thought so that readers can make better sense of the decisions today through a theoretical past lens. Like Robert L. Heilbroner’s 1953 classic The Worldly Philosophers this book goes a step further and describes concepts with increased clarity.  The choice of theorists used in the book is interesting and entirely of the author’s choosing. Even though well-known theorists such as Karl Marx, John Maynard Keynes, and Joseph Schumpeter are present, other theorists such as Webb, Fischer, and Hayek are also discussed. These theorists contributed substantially to the thought of economic systems but have not had the opportunity to truly be explored in most books.  The book moves into the perspective of the theories i