This is the sixth edition of a book that has been instrumental in introducing a generation of students to the history of economic thought. Beginning with the ancients, Rima charts the development of economics from its establishment as an analytical discipline in the 18th century, through the classicism of Ricardo and Malthus, the socialism of Marx and the explicitly scientific approaches of Walras and Marshall. The later chapters exhibit the influence of these various traditions in the 20th century with the theories of Keynes naturally to the fore, but also the thinking of institutionalists, the Chicago School and the emergence of econometrics. Rima is unapologetic in her insistence that studying the history of economic thought matters and that economics is a discipline of competing paradigms. This edition has been fully revised and updated and includes: chronologies of the key dates in the development of economics; the inclusion of extracts from original texts; and a clear examination of how the study of the history of economic thought impinges upon modern thinking.