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November 2020

'A Little History of Economics' by Niall Kishtainy

Yale

The book 'A Little History of Economics' is an interesting synopsis of the economic theories which have left their mark on every age, such as medieval economics, mercantilism, free market economics, and, even, the more recent post war economics. The book does tend to focus on modern economics (post age of discovery), as this is the period where economics took off as a science. There are a lot of interesting theories and they don't always agree and work with different parameters of the mind (do humans think rationally, for example). One interesting  theory that affects post colonial Africa, for example, is one of the ones featured in the book; in this theory, from Argentinian economist Raul Prebisch,  raw materials don't see the same increase in demand as manufactured goods during periods of prosperity, thus, explaining Africa's relative poverty. Other theories discussed include Marxism which has been a very influential theory in the 20th century, but also in the 21st. This is definitely a book for anyone interested in economics which is an important component in understanding history.

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My copy

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