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From International Socialism (1st series), No.7, Winter 1961, p.33.
Thanks to Ted Crawford & the late Will Fancy.
Transcribed & marked up by Einde O’Callaghan for ETOL.
A History of Economic Thought
Eric Roll
Faber and Faber. Hardback 36s Paperback 12s 6d.
Any history of economics must choose between a straightforward account of the various doctrines or a ‘sociology’ of economics – that is an attempt to show the interaction between economic theory and the social environment. Professor Roll takes the former course and the result is a systematic thorough, dull account of economics from the Old Testament to the Post-Keynesians.
The accounts of individual thinkers are inevitably short and probably incomprehensible to a reader completely ignorant of these theories. This applies particularly to the twenty pages devoted to Keynes rather than the fifty-page chapter on Marx. But for a good introduction it would be better to read Sweezy’s book on Marx (Theory of Capitalist Development) or Dillard on Keynes.
The only value of this book is to provide accounts of historically important but obscure thinkers – Cantillon, Jones and Senior, or to stress the importance of a thinker like Veblen who was completely outside orthodox economics. But by comparison with Schumpeter’s classic, History of Economic Doctrines, this book is dull and pedantic. As a reference book only the low priced paperback can be recommended.
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Last updated on 24 February 2010