The Making of Modern Economics

The Lives and Ideas of the Great Thinkers

By: Mark Skousen

Narrated by: Patrick Cullen

Here is a bold new history of economics, the dramatic story of how the great economic thinkers built a rigorous social science without peer.

Unlike other histories of economics, Mark Skousen's book provides a running plot with a singular heroic figure, Adam Smith, at the center of the discipline. Skousen unites the great thinkers by ranking them for or against Adam Smith and his "system of natural liberty". He shows how Karl Marx, Thorstein Veblen, John Maynard Keynes, and even laissez-faire disciples Robert Malthus and David Ricardo detracted from Adam Smith's classical model of democratic capitalism during periods of economic failure and upheaval, while Alfred Marshall, Irving Fisher, Ludwig von Mises, and Milton Friedman, among others, remodeled and improved upon Smithian economics as the world economy recovered and prospered.

Highlights include exciting new revelations about the lives of the great economists, provocative sidelights, humorous anecdotes, and even musical selections reflecting the spirit of each major economist.

©2001 Mark Skousen (P)2002 Blackstone Audiobooks

Great book, well written, excellent reader

Agree with positive statements from other reviews. Author provides a rigorous treatment of the subject in a lively narrative. Under his hand, this 'dismal' topic becomes both accessible and fascinating. The reader is excellent and provides important life and emphasis. The book ends up seeming relatively short because it moves along so well.

Well written and well narrated!

This is a great book. Well written and well narrated! I got more from it than my university studies in Economics.

It appears to be biased against communism at places but the critique is honest and thought provoking.

Would-be Economics students should read this book and it will give them a head start in their course work.

This book bridges the gap between the academics and general masses. Economics does not seem all that esoteric after listening to this book. I also ordered a print copy of this book as it appeared to be useful to have a good perspective on both micro and macro economics issues.

Good review, but avoid being indoctrinated

Skousen's book does a nice job of summarizing the development of modern economics since Adam Smith. But the weakness of the book is his religious fervor for the free market. He makes his bias clear at the start: Adam Smith is at the top of the pyramid, Marx at the bottom. Government intervention in BAD, free enterprise is GOOD. There is almost no attention to distributional issues or market failure, with a consistent belief that the free market will raise all boats. Hopefully, listeners will not be convinced by his repeated attacks on Nobel Laureates and other esteemed economists. He derides economists who, with scholarly hesitation, confess uncertainty about important macroeconomic questions. He tries to convince us that the "truth" of economics was discovered by Adam Smith, and that any economist who deviated from that free-market path is not only wrong, but has damaged society immeasurably. Don't be convinced. You can learn from Skousen, but avoid indoctrination!

Excellent

Great book to hear. Broad overview of history of economics. Well written and interesting to hear. Well done for the author and the narrator.

Extensive Bibliography

I am amazed that Mark has taken an exhaustive look at the history and characters that have produced the world that we live in today. I do not believe that I would have had the time and focus to read this work with my eyes. I am glad that I was able to listen to it. I have a greater understanding of the ideas and personal beliefs that each of the recent economists have shared with the public. For me, having a foundation of understanding of the history of modern economics is indispensable. Everyone that has any inclination to learn about economics should have this in their library.