This book provides a comprehensive overview of the development of economics from its beginnings, at the end of the Middle Ages, up to contemporary developments. It is strong on contemporary theory, providing extensive coverage of the twentieth century, particularly since the Second World War. The second edition has been revised and updated to take account of new developments in economic thought.

Ernesto Screpanti studied Sociology at the University of Trento (Italy) and Economics at the University of Cambridge. He has taught economics in various Italian universities and, at present, is teaching at the University of Siena. He was a member of the Steering Committees of the EAEPE and the AISSEC. He publishes extensively on labour economics, institutional economics and the history of economic thought. Stefano Zamagni studied Economics at the Catholic University in Milan and then at the University of Oxford with John Hicks. He holds the chair of Economics in the University of Bologna; he is adjunct professor of Public Sector Economics at the Johns Hopkins University, Bologna Center, and visiting professor of History of Economic Thought at Bocconi University, Milan. He was a member of the executive committee of International Economic Association (1989-1999) and Vice President of the Italian Economic Association. He publishes on consumer theory, capital theory, institutional economics, history of economic thought.