This is a history of economic thought from Adam Smith to John Maynard Keynes - but it is a history with a difference. Firstly, it is a history of economic theory, not of economic doctrines, that is, it is consistently focused on theoretical analysis, undiluted by entertaining historical digressions or biological colouring. Secondly, it includes detailed Reader's Guides to nine of the major texts of economics, namely the works of Smith, Ricardo, Mill, Marx, Marshall, Wickstead, Wicksell, Walras and Keynes, in the effort to encourage students to become acquainted at first hand with the writings of all the great economists. This fifth edition, first published in 1997, adds new Reader's Guides to Walras's Elements of Pure Economics (1871–74) and Keynes' General Theory to the previous seven Reader's Guides of other great books in economics. There are significant and major additions to six chapters.

‘... this last edition of his magnum opus - witty, serious; iconoclastic, devout; in its core unchanged, full of new insights, is the best yet. I cannot imagine a scholar’s library - or for that matter a student’s - without it.’

Robert Heilbroner

‘Economic Theory in Retrospect has, for over three decades, stood out among the essential secondary literature for its thoroughness and depth, scope and scholarship. It is most reassuring, therefore that Blaug’s great work will be continuing in a new edition, as a mainstay of serious courses in the history of economics, well into the next century and next millennium.’

Terence Hutchison