In some of Western culture's earliest writings, Hesiod defined the basic economic problem as one of scarce resources, a view still held by most economists. Diocletian tried to save the falling Roman Empire with wage and price fixes--a strategy that has not gone entirely out of style. And just as they did in the late nineteenth century, thinkers trained in physics renovated economic inquiry in the late twentieth century. Taking us from Homer to the frontiers of game theory, this book presents an engrossing history of economics, what Alfred Marshall called "the study of mankind in the ordinary business of life." While some regard economics as a modern invention, Roger Backhouse shows that economic ideas were influential even in antiquity--and that the origins of contemporary economic thought can be traced back to the ancients. He reveals the genesis of what we have come to think of as economic theory and shows the remarkable but seldom explored impact of economics, natural science,...

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