Show Notes
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#historyofeconomicthought #classicalpoliticaleconomy #marginalismandequilibrium #publiceconomicsandwelfare #gametheoryandpublicchoice #EconomicsEvolving
Economics Evolving: A History of Economic Thought is a scholarly history of economics by Agnar Sandmo, published by Princeton University Press. Rather than presenting economics as a fixed body of doctrine, the book traces how major ideas developed over time, how schools of thought responded to one another, and how economic theory became tied to questions of policy and society. Sandmo was a distinguished economist known for public economics, uncertainty, and environmental economics, and that background shapes the book’s perspective. The result is not a neutral catalog of names and dates, but an intellectually engaged survey that connects classical political economy, marginalism, welfare economics, game theory, and modern public choice to the broader evolution of the discipline. The book is especially useful for readers who want to understand economics as a living intellectual tradition, shaped by controversy, methodological change, and practical concern for how societies allocate resources and design institutions.