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A Companion to the History of Economic Thought - Chapter 39

C H A P T E R T H I R T Y - N I N E Research in the History of Economic Thought as a Vehicle for the Defense and Criticism of Orthodox Economics o attend a gathering of North American historians of economic thought without getting the uncomfortable feeling that many are there to grieve over the corpse. | CHAPTER THIRTY-NINE Research in the History of Economic Thought as a Vehicle for the Defense and Criticism of Orthodox Economics John Lodewijks It is almost impossible to attend a gathering of North American historians of economic thought without getting the uncomfortable feeling that many are there to grieve over the corpse. Many come to lament a time when economics was different when it was better and when it had not been perverted by formalism and higher mathematics. Many grieve for John Maynard Keynes and Commons for Friedrich Hayek and Mitchell and Ludwig von Mises. Bradley W. Bateman in Morgan and Rutherford 1998 p. 29 It is a striking fact that conferences in history of economic thought attract Austrians Marxists Radical political economists Sraffians institutionalists and post-Keynesians in disproportionate numbers all non-neoclassicals or even anti-neoclassicals who have no place else to go to talk to scholars outside their narrow intellectual circles. Mark Blaug 2001 p. 147 39.1 Balancing the History of Economics Many students throughout the world were introduced to the history of economics through Robert Heilbroner s immensely popular The Worldly Philosophers 656 J. Lodewijks originally published in 1953 and now in its seventh edition with over four million copies sold to date. Geoffrey Harcourt 2001 p. 167 claims that it is the best introduction to the lives and contributions of the great economists ever written. The chapters on Marx and Veblen are delightfully entertaining and beautifully crafted. But is it a balanced history of economics It was written by an author who in this work and in numerous other publications displays a highly critical stance toward mainstream economics. Heilbroner 1979 p. 197 alleges that modern economics is shallow and poor rather than deep and rich and disappointing in comparison with the economics of earlier periods. Modern economics has nothing to compare with the magnificent dynamics of the Classicists and Heilbroner .