The Puzzle of Modern Economics by Roger E. Backhouse provides a compelling investigation into the role of economics in shaping our modern world. The book challenges us to consider whether the field holds the key to understanding and transforming society or if events like the recent financial crisis reveal its limitations. Using clear and accessible language, Backhouse sets the stage for a discussion that cuts through much of the contemporary confusion surrounding economic theory and practice. Through well-chosen case studies - including the creation of new markets, Russia’s transition to capitalism, the forces of globalization, and the intricacies of money and finance - the book highlights where economics has thrived under well-defined problems and where it has struggled when confronting more complex issues. With a historical perspective that traces the evolution of the discipline since the Second World War, The Puzzle of Modern Economics delves into the interplay between scientific methods and ideological commitments, inviting readers to reconsider both mainstream economics and its heterodox challengers.

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