Skip to content
Register Sign in Wishlist

The Crisis of Vision in Modern Economic Thought


  • Date Published: April 1996
  • availability: Available
  • format: Hardback
  • isbn: 9780521497145

£ 58.00

Add to cart Add to wishlist

Other available formats:
Paperback, eBook

Looking for an inspection copy?

This title is not currently available on inspection

Product filter button
About the Authors
  • A deep and widespread crisis affects modern economic theory, a crisis that derives from the absence of a 'vision' - a set of widely shared political and social preconceptions - on which all economics ultimately depends. This absence, in turn, reflects the collapse of the Keynesian view that provided such a foundation from 1940 to the early 1970s, comparable to earlier visions provided by Smith, Ricardo, Mill, and Marshall. The 'unraveling' of Keynesianism has been followed by a division of discordant and ineffective camps whose common denominator seems to be their shared analytical refinement and lack of practical applicability. Heilbroner and Milberg's analysis attempts both to describe this state of affairs, and to suggest the direction in which economic thinking must move if it is to regain the relevance and remedial power it now pointedly lacks.

    • Distinguished and world-renowned economists analyze how and why the economics profession has failed
    • Accessible writing and historical perspective make the compact book important for all graduate students and professionals in the field
    • Highly controversial: the liberal critique is scathing and bound to provoke comment; Heilbroner has strong name recognition as he is author of over 20 books
    Read more

    Reviews & endorsements

    'Heilbroner and Milberg have written on great issues in a relatively small volume … Their central thesis is that historical events since then have not given rise either to an all-embracing vision or, as a corollary, a dominant analytical framework and approach. The object of the book is to analyse why this crisis - their word - has arisen and to suggest what the new vision and accompanying approach should be … the volume [is] stimulating and challenging. It reflects a shrewd understanding of the conceptual basis of the modern literature.' G. C. Harcourt, The Economic Journal

    Customer reviews

    Not yet reviewed

    Be the first to review

    Review was not posted due to profanity


    , create a review

    (If you're not , sign out)

    Please enter the right captcha value
    Please enter a star rating.
    Your review must be a minimum of 12 words.

    How do you rate this item?


    Product details

    • Date Published: April 1996
    • format: Hardback
    • isbn: 9780521497145
    • length: 144 pages
    • dimensions: 224 x 146 x 14 mm
    • weight: 0.299kg
    • availability: Available
  • Table of Contents

    1. What is at stake
    2. Classical situations
    3. The Keynesian consensus
    4. The great unraveling
    5. The crisis of vision
    6. The nature of society
    7. The science of capitalism.

  • Authors

    Robert L. Heilbroner, New School for Social Research, New York

    William S. Milberg, New School for Social Research, New York

Sign In

Please sign in to access your account


Not already registered? Create an account now. ×

Sorry, this resource is locked

Please register or sign in to request access. If you are having problems accessing these resources please email

Register Sign in
Please note that this file is password protected. You will be asked to input your password on the next screen.

» Proceed

You are now leaving the Cambridge University Press website. Your eBook purchase and download will be completed by our partner Please see the permission section of the catalogue page for details of the print & copy limits on our eBooks.

Continue ×

Continue ×

Continue ×

Find content that relates to you

Join us online

This site uses cookies to improve your experience. Read more Close

Are you sure you want to delete your account?

This cannot be undone.


Thank you for your feedback which will help us improve our service.

If you requested a response, we will make sure to get back to you shortly.

Please fill in the required fields in your feedback submission.