Download e-book for kindle: Worldly Philosophers: The Lives, Times and Ideas of Great by Robert L. Heilbroner

By Robert L. Heilbroner

The ultimate revision of this vintage bestseller, the seventh variation defines the typical thread linking the world's maximum financial thinkers and explores the philosophies that encourage them. Hailed via Galbraith as a "brilliant achievement", "The Worldly Philosophers" with over 2 million copies offered around the world, not just permits us to determine extra deeply into our historical past, yet is helping us to higher comprehend our personal instances. Heilbroner presents the recent topic that connects thinkers as diversified as Adam Smith and Karl Marx: the will to appreciate how a capitalist society works. a brand new bankruptcy conveys a priority that today's more and more "scientific" economics may possibly put out of your mind primary social and political matters which are significant to economics.

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Additional info for Worldly Philosophers: The Lives, Times and Ideas of Great Economic Thinkers

Sample text

We also offer two concrete examples of corporate behaviour: one by Brian Tokar about Monsanto (Chapter 7), and one by Andrew Rowell about the ‘global retailer’ WalMart, which is bringing panic to local downtowns and small businesses everywhere (Chapter 8). ’ The answer may be quite simple. Since the direction in which we’re heading is sure to fail, we must stop in our tracks and then change direction. If your car is headed for the cliff, first you stop it and back up, then you look at the next road map to follow.

Most important among these self-serving illusory measurements are the primary tools now used to judge economic progress: the gross national product (GNP) or gross domestic product (GDP). These measure total economic activity – that is, every monetary transaction within a nation state. By this standard, more economic activity means a healthier economy. Negative events such as, say, the depletion of natural resources, the construction of more prisons and the manufacture of bombs are all measures of ‘health’ by current economic theories.

Throughout the non-industrial world, it was only if such conditions could no longer be enforced, usually when a new nationalist or populist government came to power, that formal annexation was resorted to. As D K Fieldhouse puts it, ‘colonialism was not a preference but a last resort’ (Fieldhouse, 1984). D C Platt, another contemporary student of 19th century colonialism, adds that colonialism was necessary ‘to establish a legal framework in which capitalist relations could operate’. If no new colonies were created in Latin America in the late 19th century, it is largely because a legal system ‘which was sufficiently stable for trade to continue was already in existence’.

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Worldly Philosophers: The Lives, Times and Ideas of Great Economic Thinkers by Robert L. Heilbroner

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