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This book could be called "The Intelligent Person's Guide to Economics." Like Robert Heilbroner's "The Worldly Philosophers", it attempts to explain the core ideas of the great economists, beginning with Adam Smith and ending with Joseph Schumpeter. In between are chapters on Thomas Malthus, David Ricardo, Karl Marx, the marginalists, John Maynard Keynes, Friedrich Hayek, and Thorstein Veblen. The title expresses Duncan Foley's belief that economics at its most abstract and interesting level is a speculative philosophical discourse, not a deductive or inductive science. Adam's fallacy is the attempt to separate the economic sphere of life, in which the pursuit of self-interest is led by the invisible hand of the market to a socially beneficial outcome, from the rest of social life, in which the pursuit of self-interest is morally problematic and has to be weighed against other ends.

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Author: Duncan K. Foley
Number of Pages: 288 pages
Published Date: 30 Apr 2008
Publisher: HARVARD UNIVERSITY PRESS
Publication Country: Cambridge, Mass., United States
Language: English
ISBN: 9780674027299
Download Link: Click Here
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