The Big Three in Economics

Adam Smith, Karl Marx, and John Maynard Keynes

By: Mark Skousen

Narrated by: Jeff Riggenbach

Length: 9 hrs and 6 mins

Publisher's summary

The Big Three in Economics reveals the battle of ideas among the three most influential economists in world history: Adam Smith, representing laissez faire; Karl Marx, reflecting the radical socialist model; and John Maynard Keynes, symbolizing big government and the welfare state. History comes alive in this fascinating story of opposing views that continue to play a fundamental role in today's politics and economics.

In the 21st century, Adam Smith's "invisible hand" model has gained the upper hand, and capitalism has ultimately won the ideological battle over socialism and interventionism. But even in the era of globalization and privatization, Keynesian and Marxist ideas continue to play a significant role in economic policy in the public and private sectors.

©2007 Mark Skousen (P)2007 Blackstone Audio Inc.

Critic reviews

"Thoughtful, acutely observed and profoundly moving....Barker mixes brilliantly observed contemporary realism and mystical overtones with dazzling skill. The book has the grip of a superior thriller while introducing, with no sense of strain, a sense of sorrowful mortality that lingers long after the last page." (Publishers Weekly)

Defence for Free Market Economics

The author unabashedly strives to demonstrate the enduring superiority of laissez faire economics. This is his prerogative, but it leaves the listener feeling that something is missing (for instance, consider the increasing criticism of globalization policies - claiming to promote free-trade - from different corners of the world). However, good narration, and an engaging account of the big three in Economics.

Very slanted, but still educational

This author is from the same Chapman University that employed John Eastman who told Trump that Pence could overturn the electoral count in Congress on January 6. He even told some in the administration that his idea was likely to be illegal. That is how extreme people from this university are. There are articles asking what happened to Chapman University?

He had numerous personal attacks on the economists he doesn't like, but he had nothing but nice things to say about the one he does like, Adam Smith. I detest Karl Marx and like some things about Smith and Keynes. There are also things that they are proponents of that I don't like. He seems to take things out of context and claim things that are obvious with nothing to back that claim up or he gives claims short shrift. Then he has the gall to say that Keynes is on the way out after specifically saying that Wall Street is STILL using his theories when determining the state of the economy!! If Wall Street us using an economists theories then you know they are there to help them better understand how to make money. Some things he likes from Milton Friedman and other admirers are absolutely bonkers like during an economic downturn employers should purposely cut wages which will allow them to eventually employ more people. He doesn't seem to care that those people will no longer be able to get by on those lower wages, but he will continue to say that Adam Smith allows us to live at a higher standard. This man is completely detached from reality! He also is a big proponent of privatizing Social Security. He is as extreme as they get which is exactly who Chapman employs.

Why can't we come up with a system that uses the good parts of Keynes and Smith? In the end, I did find it educational to learn about Smith, Marx, Keynes and all the theories added in between. That is why I gave it three stars instead of less for being so tremendously biased that he had to invent a new scale to put them on so that Smith wouldn't look extreme.

A great introduction into the history of economics

I fairly don't understand people who complain this book is biased. So what? The bias is easily distinguishable and it doesn't compromise the facts presented in the book. You don't need to convert yourself in to a free market economist to learn a bit of the history. At worst, you would know one biased point and it'd give you an even better perspective while reading a different point of view on the same economists or events.

As the author noted, it is important to try to avoid discrediting all of the person's work just because his or her major theory was proven or considered false (he was talking about Marx, btw). Thus if you disagree with the author on some major grounds, I think it's always a good exercise to try to find things that you agree with and can make use of.

Good book, great narration. Giving four stars because the story may have been a bit monotonous at times.

Makes you think

Engaging, thought provoking, informative. After this I downloaded multiple authors from each school of economics.

Did the job; will recommend to friends

I needed to become competent and conversant in economic fundamentals, and listening to this book did the job. It does get rather detailed at times in discussions of other economists (not the big 3), and there are sections where I simply glazed over. However, for those looking to up their theoretical game in this field, this book will do the trick!

Interesting but very biased

I don’t wanna say I didn’t get much out of this book but the author seems to fixate on the “success” of Adam Smith and his classical school. And really only brings up Kanye’s or Marx (especially) to discuss how their brought classical economics out of the limelight. He also seems to hyperfocus on Marx’s more problematic views while brushing aside Smith’s or Kanye’s. However it still was an informative if not biased work.

informative but very biased

overall educational and added more knowledge regarding specific economists, however the author has strong blind bias against socialism & communism.
Also, excellent narration.

easy to understand history of economics

this is a great book I've sent suggestions on to many freinds. it's a very understandable introduction to the theroy of all economics.

Basic Introduction to Economic Systems

Where does The Big Three in Economics rank among all the audiobooks you’ve listened to so far?

Well towards the top

Any additional comments?

It is not to long and does not going into a lot of esoteric detail. It will provide a good understanding of some of the very fundamentals of three major economic systems.

Unexpected diamond

I really was not expecting this master piece. It's the equivalent of "Sapiens", but instead of anthropology, it's about economy. From Adam Smith to today's scenario, the author navegantes all the way with the economical theories, counter theories, the real person behind it, their motivation, their followers (and "hater") . In the end you get a taste of feeling a little smarter, understand why so many people follow those or that economics believe, and at times in history with one was "the one, and only" just to be challenged at a corner of history... sometimes winning, some time taking a having punch. Hope the listen to more books like these.

in a side note, listen to the formulas was the worse part... sometimes I find myself desperately looking for a piece of paper to write them down, just to understand visually what he was talking about.