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Monmouth University Professor Releases Third Edition of Economics Book

Monmouth University Economics and Finance Professor Steven Pressman released the third edition of Fifty Major Economists in October.

This highly-anticipated book published by Routledge details the lives and contributions of 50 influential economists throughout history. From Adam Smith to Paul Krugman, this list of 50 major economic figures is unique in its scope and approach. The major focus of each chapter is on how these longstanding economic principles are still relevant in understanding contemporary economic problems.

“The economists covered in my book were all interested in how the economy works, how economic problems arise, what can be done to prevent economic problems, and the policies that can help end economic problems,” said Pressman. “All fifty economists were concerned about the impact of economics of people’s lives and with how our understanding of economic ideas could actually improve economic performance and the lives of people.”

The third edition of Fifty Major Economists focuses on the financial and economic crisis following the fall of Lehman Brothers, and the policy solutions needed to end the high unemployment resulting from the crisis.

“Given the magnitude of the economic problems currently plaguing the U.S. economy, a focus on speculative finance seemed in order,” said Pressman. “My revisions for the third edition of Fifty Major Economists focused on why developed economies are subject to excessive speculation, the consequences of this, and the policies that can be used to prevent speculation and mitigate the consequences of excessive speculation. That is why I included Hyman Minsky (who wrote about financial speculation) and Paul Krugman (who writes about how to end our current economic problems) in the third edition of this work.”

Fifty Major Economists has already been translated into five different languages, and has been adopted as a textbook across the country.

Fifty Major Economists adds to the list of 16 books published by Pressman, who holds a Ph.D. in Economics. Pressman is also a frequent op-ed contributor to local newspapers, frequently appears on TV as an economic commentator, and is regularly quoted by financial newspapers on economics.