Geschichte des ökonomischen Denkens

Translated to Russian by N. Avtonomova; under scientific editing by V. Avtonomov. Moscow: Gaidar Institute Press, 2020. – 312 p.

ISBN 978-5-93255-580-4

In this brief but comprehensive history, Heinz Kurz traces the long trajectory of economic thought from its origins in Ancient Greece to the systematic form it took in the writings of the classics of the late eighteenth and early nineteenth centuries, and to the writings of scholars such as Paul Samuelson and Kenneth arrow. While closely observing how economic ideas are born, forgotten, and resurrected, Kurtz focuses on the thinkers who give old ideas new life, and the historical events that give rise to different approaches and theories. During this trip, the author explains what Smith meant by the "invisible hand", how Karl Marx's "law of motion" operates in capitalist Economics, what are the roots of the Austrian school's ideas about information, incomplete knowledge and uncertainty, what are the principles of effective demand and economic stabilization of John Maynard Keynes, the ideas and challenges offered by economic growth theories, welfare Economics, game theory, etc. In conclusion, he briefly summarizes what are the main problems facing modern economists, and their attitude to what is happening in our world.