This book provides an elementary introduction to the history of economic thought and has been considerably overhauled and updated since the appearance of the first edition in 2002. A chapter is devoted to each of the major developments in the history of the discipline, with a brand new introduction setting the scene.This short history of economic thinking covers large ground by outlining the main schools of thought and paradigm shifts in the field. Greater coverage is allowed to the major Anglo-American trends while retaining the innovative coverage of mainland European thinking so characteristic of the original. In the final chapter, the authors draw together some of the key strands and comment on some major works and textbooks in the history of economic ideas. The book concludes by reflecting on the changes in economic thinking within the general context of the philosophy of science