The present edition has been revised with reference to various individual writers as also the portions dealing with post-Marshallian and post-Keynesian developments, Indian thought and Gandhian economics. The book provides a multi-dimensional approach to economic thought. It systematically analyses the evolution of the subject in terms of its totality and highlights the interaction between reality, ideas and individual traits. Contributions of individual thinkers like Smith, Ricardo, Malthus, Mill, Marx, Marshall, Keynes and many others have been discussed in detail. Likewise, all important schools have also been discussed lucidly with full details and due importance has been given to their contributions throughout the book. The subject-matter has been arranged systematically so as to create an interest in the subject whereby it would appear more fascinating to the student and edge him on to read more. An attempt has been made to help the reader in learning to sift the relevant from irrelevant under appropriate rules of reasoning and to distinguish between the Indian Economic Thought. There is a list of Select Readings at the end of each chapter for those readers who would like to make a deeper study of any specific author of line of thought. The book is meant to be a textbook for undergraduate and postgraduate students of various universities. It will be most useful in all the countries of Asia and Africa on account of its vast and comprehensive coverage of the subject-matter.