Robert L. Heilbroner published his first and most famous work, The Worldly Philosophers: The Lives, Times, and Ideas of the Great Economic Thinkers, when he was only 34 years old. Born in 1919 to an affluent family in New York City, Heilbroner was raised in a life of luxury and distinguished education. He graduated from Harvard University in 1940 and earned a Ph.D. in Economics in 1963. The Worldly Philosophers is a bestselling text that has sold millions of copies since its publication in 1953 and is still used today by professors and students for understanding economic theorists and their schools of thought. (Noble) The Worldly Philosophers provides information on the lives and legacy of several prominent economic thinkers, from Adam Smith
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First, there is the optimistic Adam Smith, the father of modern economics and author of The Wealth of Nations, which Heilbroner considers as a revolutionary piece in shaping the study of economics. He continues to argue that Smith is one of the most important figures in economic philosophy with the quote, “Perhaps no economist will ever again so utterly encompass his age as Adam Smith” (Heilbroner 74). Heilbroner views Smith’s theories as the foundation which influences the future economic thinkers discussed later in the …show more content…
He commends them for being idealist but also notes how their dreams were too farfetched and impossible to conceive. Their theories of a perfect society, although well-intentioned, often dissipate when applied to reality. The author, however, does note an exception with J.S. Mill, stating how this “greatest economist of the age” added credibility to socialists by not only dreaming of good ideas, but also providing the necessary research and details for implementing them (127).
Another notable mention is Karl Marx, who Heilbroner dedicates an entire chapter to. He characterizes Marx as a devoted activist who believed the working class would eventually rise up against capitalism, an economic system he thought treated workers unfairly. Although a few of Marx’s predictions have fallen short, it is clear in the text that there is no doubt this man left a lasting impression on the political and economic world after
First, there is the optimistic Adam Smith, the father of modern economics and author of The Wealth of Nations, which Heilbroner considers as a revolutionary piece in shaping the study of economics. He continues to argue that Smith is one of the most important figures in economic philosophy with the quote, “Perhaps no economist will ever again so utterly encompass his age as Adam Smith” (Heilbroner 74). Heilbroner views Smith’s theories as the foundation which influences the future economic thinkers discussed later in the …show more content…
He commends them for being idealist but also notes how their dreams were too farfetched and impossible to conceive. Their theories of a perfect society, although well-intentioned, often dissipate when applied to reality. The author, however, does note an exception with J.S. Mill, stating how this “greatest economist of the age” added credibility to socialists by not only dreaming of good ideas, but also providing the necessary research and details for implementing them (127).
Another notable mention is Karl Marx, who Heilbroner dedicates an entire chapter to. He characterizes Marx as a devoted activist who believed the working class would eventually rise up against capitalism, an economic system he thought treated workers unfairly. Although a few of Marx’s predictions have fallen short, it is clear in the text that there is no doubt this man left a lasting impression on the political and economic world after