The Worldly Philosophers
Encyclopedia
The Worldly Philosophers: The Lives, Times and Ideas of the Great Economic Thinkers is a book
by Robert L. Heilbroner
. The book was written in 1953 and has sold more than four million copies through seven editions. (The only other economics book to sell more copies is Paul Samuelson
's textbook Economics
.) Heilbroner begins chapter two by describing the paradoxical and precarious nature of human behavior. Self-centeredness, he writes, characterizes human life along with cooperation. The result is what he calls a "struggle" (p. 18). In "primitive" (p. 19) societies
such as that of the Eskimo
s, the struggle does not pose a problem: Individuals behave under strong pressure to act in the interest of survival. He contrasts those societies with "advanced" or "modern" ones, in which "this tangible pressure of the environment, or this web of social obligation, is lacking" (p. 19). In those societies, fewer incentives exist for individuals to act for the purpose of survival. The result is that "society's existence hangs by a hair" (p. 19). Because of modern society's complexity, a small change could lead to social disarray. (One should note that he cautiously uses the words "disorganized" and "breakdown", rather than stronger words like "collapse" or "fail", to describe a society that falls victim to those ills.)
Heilbroner describes three ways in which societies have dealt with such precariousness: tradition
, authoritarianism
, and market system
s. The former two operate in the "old" ways, but the latter one is nothing less, according to Heilbroner, than a modern revolution. (He even goes on to say this revolution was fundamentally more profound than the American Revolution
, French Revolution
, and Russian revolution of 1917
.)
The sixth edition finally revealed "backnotes" providing references to support the book. Some such sources were unable to be noted. The book's original research material has, according to Heilbroner, "long since disappeared." The book's prose also changed with Heilbroner's "own evolving views", though the revisions made over time are unclear and apparently "noticeable perhaps only to scholars in the field". However, Heilbroner mentions references to the "collapse of Soviet communism" which occurred at the time.
Book
A book is a set or collection of written, printed, illustrated, or blank sheets, made of hot lava, paper, parchment, or other materials, usually fastened together to hinge at one side. A single sheet within a book is called a leaf or leaflet, and each side of a leaf is called a page...
by Robert L. Heilbroner
Robert Heilbroner
Robert L. Heilbroner was an American economist and historian of economic thought. The author of some twenty books, Heilbroner was best known for The Worldly Philosophers , a survey of the lives and contributions of famous economists, notably Adam Smith, Karl Marx, and John Maynard...
. The book was written in 1953 and has sold more than four million copies through seven editions. (The only other economics book to sell more copies is Paul Samuelson
Paul Samuelson
Paul Anthony Samuelson was an American economist, and the first American to win the Nobel Memorial Prize in Economic Sciences. The Swedish Royal Academies stated, when awarding the prize, that he "has done more than any other contemporary economist to raise the level of scientific analysis in...
's textbook Economics
Economics (textbook)
Economics is an influential introductory textbook by American economists Paul Samuelson and William Nordhaus. It was first published in 1948, and has appeared in nineteen different editions, the most recent in 2010. It was the best selling economics textbook for many decades and still remains...
.) Heilbroner begins chapter two by describing the paradoxical and precarious nature of human behavior. Self-centeredness, he writes, characterizes human life along with cooperation. The result is what he calls a "struggle" (p. 18). In "primitive" (p. 19) societies
Society
A society, or a human society, is a group of people related to each other through persistent relations, or a large social grouping sharing the same geographical or virtual territory, subject to the same political authority and dominant cultural expectations...
such as that of the Eskimo
Eskimo
Eskimos or Inuit–Yupik peoples are indigenous peoples who have traditionally inhabited the circumpolar region from eastern Siberia , across Alaska , Canada, and Greenland....
s, the struggle does not pose a problem: Individuals behave under strong pressure to act in the interest of survival. He contrasts those societies with "advanced" or "modern" ones, in which "this tangible pressure of the environment, or this web of social obligation, is lacking" (p. 19). In those societies, fewer incentives exist for individuals to act for the purpose of survival. The result is that "society's existence hangs by a hair" (p. 19). Because of modern society's complexity, a small change could lead to social disarray. (One should note that he cautiously uses the words "disorganized" and "breakdown", rather than stronger words like "collapse" or "fail", to describe a society that falls victim to those ills.)
Heilbroner describes three ways in which societies have dealt with such precariousness: tradition
Tradition
A tradition is a ritual, belief or object passed down within a society, still maintained in the present, with origins in the past. Common examples include holidays or impractical but socially meaningful clothes , but the idea has also been applied to social norms such as greetings...
, authoritarianism
Authoritarianism
Authoritarianism is a form of social organization characterized by submission to authority. It is usually opposed to individualism and democracy...
, and market system
Market system
A market system is any systematic process enabling many market players to bid and ask: helping bidders and sellers interact and make deals. It is not just the price mechanism but the entire system of regulation, qualification, credentials, reputations and clearing that surrounds that mechanism and...
s. The former two operate in the "old" ways, but the latter one is nothing less, according to Heilbroner, than a modern revolution. (He even goes on to say this revolution was fundamentally more profound than the American Revolution
American Revolution
The American Revolution was the political upheaval during the last half of the 18th century in which thirteen colonies in North America joined together to break free from the British Empire, combining to become the United States of America...
, French Revolution
French Revolution
The French Revolution , sometimes distinguished as the 'Great French Revolution' , was a period of radical social and political upheaval in France and Europe. The absolute monarchy that had ruled France for centuries collapsed in three years...
, and Russian revolution of 1917
Russian Revolution of 1917
The Russian Revolution is the collective term for a series of revolutions in Russia in 1917, which destroyed the Tsarist autocracy and led to the creation of the Soviet Union. The Tsar was deposed and replaced by a provisional government in the first revolution of February 1917...
.)
The sixth edition finally revealed "backnotes" providing references to support the book. Some such sources were unable to be noted. The book's original research material has, according to Heilbroner, "long since disappeared." The book's prose also changed with Heilbroner's "own evolving views", though the revisions made over time are unclear and apparently "noticeable perhaps only to scholars in the field". However, Heilbroner mentions references to the "collapse of Soviet communism" which occurred at the time.
Contents
- Introduction
- The Economic Revolution
- The Wonderful WorldMarket economyA market economy is an economy in which the prices of goods and services are determined in a free price system. This is often contrasted with a state-directed or planned economy. Market economies can range from hypothetically pure laissez-faire variants to an assortment of real-world mixed...
of Adam SmithAdam SmithAdam Smith was a Scottish social philosopher and a pioneer of political economy. One of the key figures of the Scottish Enlightenment, Smith is the author of The Theory of Moral Sentiments and An Inquiry into the Nature and Causes of the Wealth of Nations... - The Gloomy Presentiments of Parson MalthusThomas MalthusThe Reverend Thomas Robert Malthus FRS was an English scholar, influential in political economy and demography. Malthus popularized the economic theory of rent....
and David RicardoDavid RicardoDavid Ricardo was an English political economist, often credited with systematising economics, and was one of the most influential of the classical economists, along with Thomas Malthus, Adam Smith, and John Stuart Mill. He was also a member of Parliament, businessman, financier and speculator,... - The Dreams of the Utopian SocialistsUtopian socialismUtopian socialism is a term used to define the first currents of modern socialist thought as exemplified by the work of Saint-Simon, Charles Fourier, and Robert Owen which inspired Karl Marx and other early socialists and were looked on favorably...
- The Inexorable SystemMarxian economicsMarxian economics refers to economic theories on the functioning of capitalism based on the works of Karl Marx. Adherents of Marxian economics, particularly in academia, distinguish it from Marxism as a political ideology and sociological theory, arguing that Marx's approach to understanding the...
of Karl MarxKarl MarxKarl Heinrich Marx was a German philosopher, economist, sociologist, historian, journalist, and revolutionary socialist. His ideas played a significant role in the development of social science and the socialist political movement... - The Victorian WorldVictorian eraThe Victorian era of British history was the period of Queen Victoria's reign from 20 June 1837 until her death on 22 January 1901. It was a long period of peace, prosperity, refined sensibilities and national self-confidence...
and the Underworld of Economics - The Savage Society of Thorstein VeblenThorstein VeblenThorstein Bunde Veblen, born Torsten Bunde Veblen was an American economist and sociologist, and a leader of the so-called institutional economics movement...
- The HeresiesKeynesian economicsKeynesian economics is a school of macroeconomic thought based on the ideas of 20th-century English economist John Maynard Keynes.Keynesian economics argues that private sector decisions sometimes lead to inefficient macroeconomic outcomes and, therefore, advocates active policy responses by the...
of John Maynard KeynesJohn Maynard KeynesJohn Maynard Keynes, Baron Keynes of Tilton, CB FBA , was a British economist whose ideas have profoundly affected the theory and practice of modern macroeconomics, as well as the economic policies of governments... - The Contradictions of Joseph SchumpeterJoseph SchumpeterJoseph Alois Schumpeter was an Austrian-Hungarian-American economist and political scientist. He popularized the term "creative destruction" in economics.-Life:...
- The End of the Worldly Philosophy?
Publication data
- The Worldly Philosophers: The Lives, Times And Ideas Of The Great Economic Thinkers, 1953, Simon & Schuster
- 1972 4th edition hardcover: ISBN 0-671-21325-3
- 1980 5th edition, Touchstone paperback: ISBN 0-671-25595-9
- 1992 6th edition hardcover: ISBN 0-671-63482-8
- 1999 7th edition, Touchstone paperback: ISBN 0-684-86214-X