From the workings of financial markets to our response to the ecological crisis, economic theory shapes the world. But where do these ideas come from?
Ricardo’s Dream tells the fascinating story of David Ricardo, Adam Smith’s only real rival as the ‘founder of economics’: The wealthiest stock trader of his day, Ricardo introduced the study of abstract models to economics. He also developed the theory of trade that underpinned globalization and hides, behind its mathematical façade, a history of power, empire and slavery.
Brimming with fresh ideas and stories, Ricardo’s Dream shows how too many economists, from Ricardo’s day to our own, have turned away from observing the real world and led us astray.
Introduction: "As Certain as the Principle of Gravitation"
Part 1: Birth
1. The Other Founding Father of Economics
2. "The Unshakeable Basis for International Trade"
3. Unequal Treaty
4. Black Gold
5. Newton's Mint
6. The Empire of Free Trade
Part 2: Death
7. "Dropped from Another Planet"
8. "Purely Hypothetical Truths"
9. The Fall
Part 3: Rebirth
10. The Return of Unreality
11. Big Finance
12. Trading Barbarians
13. Life: An Externality
14. Another Fall?
Conclusion: Look at the World
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