This is a revised edition of this classic text on the history of economic thought. Its particular value is that it studies theories rather than theorists, and focuses on the logical coherence and explanatory value of the mainstream of economic ideas, undiluted by biographical colouring or historical digressions. Detailed Reader's Guides are provided to the leading works in economics, and Notes on Further Reading guide the student through the literature that has grown up around these works. This edition is substantially revised and updated throughout, with major sections on monetary theory and macroeconomics, and a chapter on location theory.