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IN AN essay in his popular magazine, Household Words, Charles Dickens issued a challenge to economists to humanise their discipline. ¡°Political economy is a mere skeleton unless it has a little human covering and filling out,¡± he wrote in the inaugural issue in 1854. ¡°A little human bloom upon it, and a little human warmth in it.¡±
This is a challenge to which economics and economists have mostly failed to rise. In her new book Sylvia Nasar, a former economics correspondent at the New York Times and now at Columbia University, has at least gone part of the way to satisfying Dickens¡¯s wishes. ¡°Grand Pursuit¡± is a history of economics which is full of flesh, bloom and warmth. The author demonstrates that there is far more to economics than Thomas Carlyle¡¯s ¡°dismal science¡±. And she does so with all the style and panache that you would expect from the author of the 1998 bestseller, ¡°A Beautiful Mind¡±, about John Forbes Nash, the tortured genius behind game theory.
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