Rating: 
Summary: Not Impressed
Review: It is hard to believe that this book is in its 7th edition. Either economic theory either is seriously lacking or this book simply is not good. First, it begins with the false premise that economics does not begin until the modern age, when Tradition and Command are losing influence. To argue that Traditional and Command economies are not worthy of economic analysis is simply absurd. Arisotle's Politics (which the author quotes out of context) gives several economic insights that shadow what most of the "modern" theorists have to offer. Economics is about the human instinct to seek out the necessary resources for survival (consumption) in a world where a lack of sufficient instincts leaves us bare and exposed. Second, it begins with the assumption that the profit incentive has been lacking until modern times, another absurd claim. The author acknowledges that Kings have always sought profits (which discredits his claim), but it apparently never occured to the author that 1. the masses were taught to accept their lot in life, and 2. proper nutrition and other facter woke the masses from their slumber (that is, accepting one's lot in life is the result of privation, not of moral goodness). The author tosses about other assumptions, such as the notion that "equality" and "wealth distribution" should be the goal of an economy, with a predictable attack on the "rober barrons," to set the stage for his attack on greed. In short, the author begs the question by assuming the very things in need of verification, all in an attempt to let out one last gasp of the socialist's dying quest for recognition. (The socialist dream rests on and depends on the achievements of capitalists; that is, it is a parasitic philosophy.) Granted, I am a firm believer in social planning and oversight, in the classical conservative sense of the word, but this book, while good, is simply too biased and loaded with false assumptions to rise to the level of five stars.
Rating:
Summary: Surreptitiously tendentious.
Review: Many people (witness the other reviews below) receive their introduction to the history of economic thought by reading this book. What a shame, then, that it is such a statist account. If you are going to read this tome, note that praise of Keynes, Schumpeter, Galbreath, _et al._ is a partisan activity, and that not everyone thinks more government is better (or better economics, for that matter). Indeed, this point of view is generally on the retreat throughout the world -- except in American publishing and academia.
Rating: 
Summary: Economics- Made Interesting!
Review: One of the best economics books I've ever read. The book progresses logically from economist to economist, revealing their beliefs as well as their personalities (some very eccentric) along the way. For those who think economists are dull, uninteresting people, this book will change their minds! For those who are already interested in economics, this book is a great refresher of all the important economic principles.
Rating: 
Summary: Good reading and a welcome introduction to arcane topics
Review: Philosophy can be a daunting topic, economics can be arcanic to the point of being occult. This text reduces the mystery by setting the thinking of Adam Smith, Parson Malthus, David Ricardo, Thorsten Veblum, and others in the context of the problems they were trying to solve, and the beliefs governing the times they were in. In particular, the author's disciplined chapter titling forecasts the general attitude of these "philosophers of the material world." Skip Adam Smith and read Thorsten Veblum if you're interested in how American economics looked to an American after Smith's philosophies began to take hold---or if you'd like an unexpectedly hilarious view of what the robber barons did and why. For contrast, you may also like Maury Klein's works on the Union Pacific and his biography of Jay Gould. Pairing some in-depth works with Heilbroner's engaging summary will do more for your knowledge of economics than placid acceptance of "the bad old days" perspective so often marketed as education--and may even alter your view of Michael Milken's use of finance.
Rating:
Summary: An interesting presentation of economic ideas
Review: Robert Heilbroner presents a fairly concise book examining a broad group of economic thinkers from Adam Smith to Joseph Schumpeter. While economics usually makes us think about a mind numbing experience, Heilbroner's book is quite easy to read. His coverage is a pretty decent cross sample of thinkers and while it simplifies some elements a little more than necessary it's still a good starter for understanding the field. The strangest omission is F.A. Hayek, who goes unmentioned by Heilbroner. Hayek's ideas have been incredibly influential and any book on economic theory is incomplete without mention of him. But he was probably just omitted because Hayek lived until 1992 and Heilbroner didn't want to deal with a living theorist; why he hasn't been included in the newest addition will remain a mystery though. If you read this book I would strongly suggest also reading Jerry Muller's _The Mind and the Market_ as well. It's a similar style but with different theorists examined, I think only four are included in both.
Rating:
Summary: Good Intro to Econ History
Review: Starting with the physiocrats, Heilbroner summarizes schools of economic thought, and profiles some leading exponents of each. Temperamentally an interventionist, the author nevertheless reveals some glaring weaknesses in Utopian economic thought.His chapter on Fourier and the French philosopher's attempt to sell a business plan for some rich capitalist to fund a phalangerie system of society is very interesting, and captures the dilemma of so many meliorist thinkers who fail to convince a critical mass of society to buy into their plans to revolutionize society. His treatment of communism is doctrinaire, with not much focus on the need for a rabid, ruthless minority to force the rest of society to accept Marxist theory and practice. The book ends with meditations on Galbraith, and the now-quaint prescriptions for government power to "countervail" private economic power in allegedly free market economies. The great strength of this book is not whether you agree or disagree with any of the theories profiled by Heilbroner, but that he presents them in a compelling way, relates them to the real people who expressed them distinctively, and creates the desire to learn more. That was Isaac Asimov's definition of what it means to learn. This book is very good for younger readers who need a challenge.
Rating:
Summary: Understanding
Review: This book is about learning from the past and applying it to the future. It is important that we understand the philosophic economics of the past. The author explains what has happened in a "reader friendly" way where the past is understandable and applicable, which is the pure purpose history serves.
Rating:
Summary: Money makes the world go round
Review: This book is an important history of economic thought throughout the ages. It gives the general reader a basic understanding of how economics has changed through the years from Adam Smith to contemporary times. The impression I gained of this book was that economics does not have a unified theory that addresses all circumstances. A doctrinaire approach could lead to disaster if the solutions proposed to not match the circumstances they were meant to address. In fact, most of the great thinkers of economic matters are addressing specific difficulties which tend to be narrowly focused on a particular set of circumstances. Adam Smith sought to address the problems of mercantilism, Karl Marx the dislocations of the industrial revolution, Keynes, the problems of deflationary economic policy. This is an insightful thesis which explains a great deal. This book is useful to the person who is familiar with economics and a cautionary tale for people like myself who are not. It provides a good overwiew and gives a good critical understanding of the men and ideas who have contributed to our understanding of these issues.
Rating:
Summary: The best review of major economic theories available
Review: This book is so much fun that you may have trouble putting it down - and you will definitely be surprised at how much you've learned. It's true that Heilbroner makes no attempt to disguise his opinions about the theories and the theorists, but I found that to be just as informative as his excellent prose style. I would definitely recommend this book as an introduction to economics for people of all ages.
Rating:
Summary: A great reading experience
Review: This book reminds me of Will Durant's marvelous The Story of Philosophy, with which it shares many positive qualities. The first similarity is that the writing is extremely lucid, explaining many complex ideas in a direct way, which only superior writing can achieve. And like Durant, Heilbroner has a contagious enthusiasm for his subject matter. He really makes the economists come alive, both because of their personalities and their thinking. Finally, like Durant's work, this book has really made me eager to read the works of the men that the author summarizes. When I became interested in economics, this book was recommended to me as the first one I should read. I'm truly glad I did. I highly recommend this book. -Mykal Banta
|
