‘The Theory of Economic Development’ is still one of the most famous and influential books in the entire field of economics. This book was published when Joseph Schumpeter was only 28 years old and he considered it to be his seminal work. Since this book’s publication, Schumpeter’s...

This book assesses major schools of thought in macroeconomic theory between the Great Depression and the Long Recession, focusing on their analysis of cycles, crises and macro-policy. It explores the road from the dominance of Keynesian ideas to those of New Classical Macroeconomics (NCM) toward...