Reviews of books and other publications [1990, Vol. 17, no. 1]

              The Accounting Historians Journal Vol. 17, No. 1 June 1990
REVIEWS OF BOOKS AND OTHER PUBLICATIONS
Roger Backhouse, Economists and the Economy: The Evolution of Economic Ideas 1600 to the Present Day (New York: Basil Blackwell, 1988, 224 pp. $49.95).
by
Alistair M. Preston Boston University
Roger Backhouse's book, "Economists and the Economy", is concerned with both the history of economic thought and of the economy. His main concern is that present day economic thinking and analysis are too divorced from reality. The book examines how economic and political events from the seven-teenth century until the present day have impacted upon, and have been shaped by, the economic thought of the time. His main aim is to provide students of economics with some of the historical and contextual background they need in order to better understand the subject they are studying.
The book is divided up both chronologically and by eco-nomic subject. In this respect, it is a series of histories. Chapter 2 is concerned with "Growth and Development", Chapter 3 with "Regulation of Trade and Industry", Chapter 4 with "Money and Inflation" and Chapter 5 with "Employment and Economic Fluctuations". In each of these chapters Backhouse illustrates the intertwining or reciprocal relationship between economic thought and economic and political events. The final two chap-ters switch the emphasis to a more theoretical posture where he explores the "Theory of a Market Economy" in Chapter 6 before concluding with a more general overview of the "Discipline of Economics" in Chapter 7. These final two chapters include a critical examination of the contributions made by, and the strengths and weaknesses of, economic theory.
By concentrating upon specific subjects, for example, economic growth, the reader is exposed to the intricacies and interrelationships of thought and practice over the centuries, as well as how the economists of a period often differed in their economic interpretations and prescriptions. The manner in which the book is structured means that a number of economists are visited again and again (most notably Adam Smith), vividly revealing their contribution to a wide range of economic theory