One project I might spend a solid month on this fall is to try turn my history of economic thought lecture notes into a ms. for a relevant “history of economic thought” book—that is, a book that...
I think this is a brilliant idea, with one comment: You need to have the Chicago micro and macro (M is everything) schools and Public Choice thinkers in the outline, otherwise you will get critiqued for leaving them out.
For some fun, you might take this history back to the Bible and reflect on the comments in Genesis concerning the proper economic role of the government. In the "Pharoah's Dream," we see Joseph argue that, during good years, the government should impose a 20% tax on agriculture in order to allow relief spending during the bad years of famine. There seems to be some proto-Keynseian thought there...
Joseph said the Pharoah should: "appoint commissioners over the land to take a fifth of the harvest of Egypt during the seven years of abundance. 35 They should collect all the food of these good years that are coming and store up the grain under the authority of Pharaoh, to be kept in the cities for food. 36 This food should be held in reserve for the country, to be used during the seven years of famine that will come upon Egypt, so that the country may not be ruined by the famine.”
I note that your history of economic thought does not include money. I can't think of much microeconomics that preceded Smith (James Steuart, maybe? or Physiocracy?), but thinkers have been wrestling with money since time immemorial.
On the other hand, thoughts of money lead to madness. As Karl Marx once wrote: "not even love has made so many fools of men as the pondering over the nature of money"
Very interesting project. How would compare it with Heilbronner's project (as you understand it). Also interesting to see some of the usual suspects excluded such as Ricardo, Malthus, Mill. But perhaps they will be dealt with in the other chapters/footnotes.
Would be interested to hear your response to Tyler Cowan's The Goat: Who is the greatest Economist of all time. I was surprised to see how highly he ranked Mill.
The point of the book would be to focus on ideas, with a real-live economist serving as a nail on which to hang an idea, and including elements of their biography to add interest and make things less dry. Hence inclusion depends not on being an important economist but on being the best front-facing advocate of an important idea:
> Paul: Very interesting project. How would compare it with Heilbronner's project (as you understand it). Also interesting to see some of the usual suspects excluded such as Ricardo, Malthus, Mill. But perhaps they will be dealt with in the other chapters/footnotes. Would be interested to hear your response to Tyler Cowan's The Goat: Who is the greatest Economist of all time. I was surprised to see how highly he ranked Mill.
Yes please! It is a very interesting subject and deeply relevant in current chaotic times. Just finished John Cassidy's book, Capitalism and its Critics, after reading your review of it. Loved it.
Can't wait. Will you have a chapter on model building and how the rise of computing allowed large partial and general equilibrium modeling of the economy...Muth, Leontief, structural modeling, that sort of thing?
I very much want to read this book.
I would love to purchase your book.
I think this is a brilliant idea, with one comment: You need to have the Chicago micro and macro (M is everything) schools and Public Choice thinkers in the outline, otherwise you will get critiqued for leaving them out.
Touché...
For some fun, you might take this history back to the Bible and reflect on the comments in Genesis concerning the proper economic role of the government. In the "Pharoah's Dream," we see Joseph argue that, during good years, the government should impose a 20% tax on agriculture in order to allow relief spending during the bad years of famine. There seems to be some proto-Keynseian thought there...
Joseph said the Pharoah should: "appoint commissioners over the land to take a fifth of the harvest of Egypt during the seven years of abundance. 35 They should collect all the food of these good years that are coming and store up the grain under the authority of Pharaoh, to be kept in the cities for food. 36 This food should be held in reserve for the country, to be used during the seven years of famine that will come upon Egypt, so that the country may not be ruined by the famine.”
https://www.biblegateway.com/passage/?search=Genesis%2041&version=NIV
I had the Heilbronner book as an undergrad 35 years ago so it's nice to see it mentioned by you. I'm interested in this project.
I note that your history of economic thought does not include money. I can't think of much microeconomics that preceded Smith (James Steuart, maybe? or Physiocracy?), but thinkers have been wrestling with money since time immemorial.
On the other hand, thoughts of money lead to madness. As Karl Marx once wrote: "not even love has made so many fools of men as the pondering over the nature of money"
Very interesting project. How would compare it with Heilbronner's project (as you understand it). Also interesting to see some of the usual suspects excluded such as Ricardo, Malthus, Mill. But perhaps they will be dealt with in the other chapters/footnotes.
Would be interested to hear your response to Tyler Cowan's The Goat: Who is the greatest Economist of all time. I was surprised to see how highly he ranked Mill.
It's a tie between Smith and Keynes, definitely...
The point of the book would be to focus on ideas, with a real-live economist serving as a nail on which to hang an idea, and including elements of their biography to add interest and make things less dry. Hence inclusion depends not on being an important economist but on being the best front-facing advocate of an important idea:
> Paul: Very interesting project. How would compare it with Heilbronner's project (as you understand it). Also interesting to see some of the usual suspects excluded such as Ricardo, Malthus, Mill. But perhaps they will be dealt with in the other chapters/footnotes. Would be interested to hear your response to Tyler Cowan's The Goat: Who is the greatest Economist of all time. I was surprised to see how highly he ranked Mill.
Yes please! It is a very interesting subject and deeply relevant in current chaotic times. Just finished John Cassidy's book, Capitalism and its Critics, after reading your review of it. Loved it.
Plus one reader here! Looking at the outline, is one book enough to cover all that content?
No. Probably not...
All sounds worth reading, regardless of how you package it!
Thanks much! Please tell me about "Seeds of Knowledge"! - Brad
Can't wait. Will you have a chapter on model building and how the rise of computing allowed large partial and general equilibrium modeling of the economy...Muth, Leontief, structural modeling, that sort of thing?