The Making of Modern Economics

The Lives and Ideas of the Great Thinkers

By: Mark Skousen

Narrated by: Patrick Cullen

Length: 19 hrs and 48 mins

Publisher's summary

Here is a bold new history of economics, the dramatic story of how the great economic thinkers built a rigorous social science without peer.

Unlike other histories of economics, Mark Skousen's book provides a running plot with a singular heroic figure, Adam Smith, at the center of the discipline. Skousen unites the great thinkers by ranking them for or against Adam Smith and his "system of natural liberty". He shows how Karl Marx, Thorstein Veblen, John Maynard Keynes, and even laissez-faire disciples Robert Malthus and David Ricardo detracted from Adam Smith's classical model of democratic capitalism during periods of economic failure and upheaval, while Alfred Marshall, Irving Fisher, Ludwig von Mises, and Milton Friedman, among others, remodeled and improved upon Smithian economics as the world economy recovered and prospered.

Highlights include exciting new revelations about the lives of the great economists, provocative sidelights, humorous anecdotes, and even musical selections reflecting the spirit of each major economist.

©2001 Mark Skousen (P)2002 Blackstone Audiobooks

What you'll never get in school

Mark's book is good for the reasons mentioned by other reviewers, but it's especially good, because you'll never get this material covered in college. Skousen is a follower of the Austrian school of economics, which is only taught at only several colleges around the country, such as George Mason.

Holly said that this is "neocon" economics, which would be as absurd as calling John Adams a Jeffersonian. Well known "neocons" support at least some of Keynes ideas, such as using fiscal policy to spur the economy during recessions. Austrians universally support a gold standard and favor almost no government endeavors (some don't support it for any).

long, well read, pro capitalist viewpoint

As a non-economist, I was interested in getting an overview of economic thought. Although this was long, it served my purpose well. I bnow have some context for the choices being made by the current administration, and a basis for further reading. The gossipy sections went down fairly well, but the economics would have been better with access to the charts reffered to in the text. A follow up with a good economics text is my next goal. The author provides a good review of the main economics texts at the end of his book.

Detailed, but strong biased.

Interesting and detailed, but has a very very strong bias against any non ultra-free market findings.

One warning is that the author is somewhat homophobic and pro-theism(most obvious in talking about the early 1900's period and for Keynes). This seeps into some of his analysis and colors his opinions on the character of economists he talks about. Going outside of detailing the figures, he goes into simple vitriol and disdain for the figures he obviously has issues with.

As long as you know that this is a specifically pro-free market analysis, the book is very interesting. But don't let the authors irrational points effect you, and keep an eye on all his analysis. This is only one side of the argument, but he does do a somewhat complete job of explaining that side. Buy this and a book that matches it but from a less supply/free market approach and you'll get a nicely balanced view.

Solid read, but presentation less solid

Well-researched, well organized book and a very worthwhile read. However, the reader sounded as if he were suffering a cold (through out the entire book!) and some pronunciations were interesting, to say the least (in fact, his pronunciation of 'school' as a nasal "skule" rather than "skool" was downright annoying).

Worth listening to, but be prepared to deal with "reader issues."

My favourite audiobook

Of my growing library of audiobooks (now at 53 books), this is probably my favourite audiobook. As a rule, I don't read books more than once, but I am listening to this one for the fourth time now. The narration is very good and the writing style is pretty good (odd music selections), but the content is the clincher.

This book opened my eyes to some lies, fallacies and misconceptions which are even found in most modern economics textbooks, and helped me to distinguish between truth and fiction. I found the criticism of Keynesian theories the most insightful. On a recent university course on micro economics, the lecturer asked me where I had studied economics before, but of course I had simply read this book. It really helped in my studies and I have now also bought a copy in paperback for reference.

When reading through the other reviews of this book, you will notice that most of the criticisms come from people with seemingly little or no background in economics or who seem to have only a passing interest in the subject. Those who have some background on the subject just love it. That does not mean this book is not for beginners or only for professional economists - on the contrary. It is clear and easy to follow on all levels of preceding knowledge... but the more you know about economics, the more you will enjoy this book.

Great mix of history and theory

Would you consider the audio edition of The Making of Modern Economics to be better than the print version?

I really enjoyed this book when I listen to it a couple of years ago. It is large but gives a very nice mix of history/biography of the main characters mixed with theory on economics. Bravo !

Mark Skousen is a genius!

This book is about more than money. Mr. Skousen makes sense of how the world works and brings it to you in an entertaining way that makes you not want to put the book down.
I see that he has written quite a few other books and that makes me wonder what else I'm missing.
I wish more of his books were available on Audible.

Interesting & Enjoyable Read

One of my two favorite audio books. It is filled with interesting facts presented in a logical sequence. The narrator is very easy to listen to. The book puts major economic thoughts into perspective with each other, primarily with respect to Adam Smith and free market theory. A few odd facts about economists are sprinkled in here & there.

I listen to this book quite often -- I just start at a random point & go from there.

Wonderful and educational

I agree with the other positive comments. Even though the book is slanted in favor of free market concepts and proponents, it is even-handed in dealing with other figures and ideas and does a great job of synthesizing the historical, philosophical, and technical aspects of the subject.

Good, but not for beginners... like me

This is a different approach to telling the stories of the heroes and villians in the struggle for survival of Adam Smith's model for economy. It is not a great intro for beginners - like me. I had expected a comparitive history of different avenues of economic thought. It may be that, but it is more a compendium of mini biographies of great economists.

From time to time I wanted to say, "Stop the bus, tell me what xyz-technical-economist term means." It is not a way to learn economics. The underlying assumption is that you already have this solidly under your belt.

Other reviewers have referred to occasional humor or whimsy in the pages of this book. I have to say that the word "occasional" should be written "very occasional." I kept hoping to chuckle, but never had good reason to do so.