What is the economy, really? Is it a “market sector,” a “general equilibrium,” or the “gross domestic product”? Economics today has become so preoccupied with methods that economists risk losing sight of the economy itself. Meanwhile, other disciplines, although often intent on criticizing the methods of economics, have failed to articulate an alternative vision of the economy. Before the ascent of postwar neoclassical economics, fierce debates raged, as many different visions of the economy circulated and competed with one another.

In The Real Economy, Jonathan Levy returns to the spirit of this earlier era, which, in all its contentiousness, gave birth to the discipline of economics. In this lunchtime book talk, historian Jonathan Levy will present portions of his new book, The Real Economy: History and Theory, published in 2025 by Princeton University Press. Following Levy’s presentation, Stanford Economics Professor Gavin Wright will share prepared comments and questions before opening the discussion to audience members. For a preview of the discussion, please see the book description below.

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This event is sponsored by Stanford Global Studies and the Stanford Humanities Center.