Evolution of Economic Ideas

Do you know that Karl Marx, who despised the capitalist class, was actually raised in an upper-middle-class family? And that the distinguished economist John Maynard Keynes scored poorly in economics in the civil service examination-which he attributed to the examiner's lack of knowledge of the subj [...]
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Do you know that Karl Marx, who despised the capitalist class, was actually raised in an upper-middle-class family? And that the distinguished economist John Maynard Keynes scored poorly in economics in the civil service examination-which he attributed to the examiner's lack of knowledge of the subject? Vinay Bharat-Ram, in this delightful and breezy read, offers revealing glimpses into the lives and social circumstances of some of the most influential economic thinkers who have determined the way we understand economics today. Brimming with fascinating nuggets from their lives, this book journeys from Adam Smith's free-market capitalism to Amartya Sen's welfare economics and beyond, demystifying several momentous economic developments along the way. It explains how the social conditions and unique circumstances of these philosophers shaped their sometimes rich and sometimes absurd ideas that eventually formed the foundation of modern economics. Giving a wide berth to the much-dreaded buzzwords that have long hindered an easy understanding of economics, this concise book, laced with warm humour, casts light on ideas that have held generations of economists in thrall.