A History of Economics

The Co-Evolution of Economics and the Economy

By: Volker Caspari

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eText | 20 January 2025

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Discover the captivating journey of the history of economic thought through the centuries with this comprehensive textbook. From the dawn of economic thought in ancient times to the emergence of modern economic theory in the twentieth century, this textbook reveals the evolution of ideas that have shaped our understanding of economics.

Ideal for advanced bachelor's and master's students in economics and related social sciences, this engaging resource illuminates the historical context of economic thought and its impact on real-world developments. It examines influential schools of economic thought, addresses major theoretical challenges, and highlights fundamental innovations that have shaped the development of the discipline.

The textbook explores a wide range of topics, including the economic philosophies of ancient civilizations and the Middle Ages, the influence of mercantilism and physiocracy, the profound contributions of Adam Smith, David Ricardo, and Karl Marx to classical political economy, the marginalist revolution and neoclassicism, German historical economics, the evolution of macroeconomics, the rise of Keynesianism, and the enduring relevance of institutional economics. This is a must-read for students and anyone curious about the history of economics and economic history.