This book investigates the historical evolution of economic thought by examining the interplay between scientific inquiry and the practical requirements of government policy. Phyllis Deane, a noted scholar in economic history, utilizes a chronological framework to analyze how moral, scientific, and political contexts have shaped the development of economic theory over the past three centuries. The text argues that the discipline has consistently navigated the tension between the pursuit of objective scientific truth and the demand for actionable advice to manage national economic systems.

Scholars and students frequently cite this work as a clear and accessible introduction to the history of political economy. Experts highlight the text for its ability to synthesize complex intellectual history into a coherent narrative suitable for both academic and general audiences.