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This book examines the nature and the causes of the 1929 depression, tracing its background and the broad conditions from which the depression emerged. As an infl uence on economic activity, Robbins sees World War I, and the political changes that followed it, as a series of shifts in the fundamental conditions of demand and supply, to which economic activity had to adapt. Th e needs of the war had called a huge apparatus of mechanical equipment into being, which the resumption of peace rendered in large part superfl uous. The war also disrupted world markets, and its settlement created...

Lionel Robbins's now famous lectures on the history of economic thought comprise one of the greatest accounts since World War II of the evolution of economic ideas. This volume represents the first time those lectures have been published.

Lord Robbins (1898-1984) was a remarkably accomplished thinker, writer, and public figure. He made important contributions to economic theory, methodology, and policy analysis, directed the economic section of Winston Churchill's War Cabinet, and served as chairman of the Financial Times. As a historian of economic ideas, he ranks with...

Until his death in 1984, Lionel Robbins was one of the world's most influential economic theorists and the foremost British economist of his generation. Appointed to a professorship at the prestigious London School of Economics when only thirty years old, Robbins dominated British economic thought for decades and proved a powerful force in the formulation of post-World War II economic policy.