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Introduction: The Genesis of Macroeconomics

Antoin E. Murphy

in The Genesis of Macroeconomics: New Ideas from Sir William Petty to Henry Thornton

Published in print:
2008
Published Online:
May 2009
ISBN:
9780199543229
eISBN:
9780191715709
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199543229.003.0001
Subject:
Economics and Finance, Economic History, History of Economic Thought

This introductory chapter traces the development of macroeconomics. Macroeconomics received its initial impetus from Sir William Petty, who attempted to measure, for the first time, the wealth and ... More


Conclusion: New Ideas from Fascinating People

Antoin E. Murphy

in The Genesis of Macroeconomics: New Ideas from Sir William Petty to Henry Thornton

Published in print:
2008
Published Online:
May 2009
ISBN:
9780199543229
eISBN:
9780191715709
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199543229.003.0010
Subject:
Economics and Finance, Economic History, History of Economic Thought

This chapter begins with a synthesis of the discussions in the preceding chapters, which detailed the considerable legacy selected 17th- to early 19th-century writers left to macroeconomics. Drawing ... More


John Law: A New Monetary System

Antoin E. Murphy

in The Genesis of Macroeconomics: New Ideas from Sir William Petty to Henry Thornton

Published in print:
2008
Published Online:
May 2009
ISBN:
9780199543229
eISBN:
9780191715709
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199543229.003.0003
Subject:
Economics and Finance, Economic History, History of Economic Thought

This chapter begins with an assessment of John Law's contributions to macroeconomics. It then analyzes the way in which Law attempted to implement his macroeconomic ideas as macroeconomic policy in ... More


Sir William Petty: National Income Accounting

Antoin E. Murphy

in The Genesis of Macroeconomics: New Ideas from Sir William Petty to Henry Thornton

Published in print:
2008
Published Online:
May 2009
ISBN:
9780199543229
eISBN:
9780191715709
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199543229.003.0002
Subject:
Economics and Finance, Economic History, History of Economic Thought

This chapter discusses Sir William Petty's background and contributions to macroeconomics. Petty was a man of many coats: anatomist, physician, professor of music, inventor, statistician, Member of ... More


The Genesis of Macroeconomics: New Ideas from Sir William Petty to Henry Thornton

Antoin E. Murphy

Published in print:
2008
Published Online:
May 2009
ISBN:
9780199543229
eISBN:
9780191715709
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199543229.001.0001
Subject:
Economics and Finance, Economic History, History of Economic Thought

This is a book about the discovery of macroeconomic ideas and concepts long before the term macroeconomics had been coined. The cast of authors varies from doctors and physicians (Sir William Petty ... More


Richard Cantillon: Macroeconomic Modelling

Antoin E. Murphy

in The Genesis of Macroeconomics: New Ideas from Sir William Petty to Henry Thornton

Published in print:
2008
Published Online:
May 2009
ISBN:
9780199543229
eISBN:
9780191715709
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199543229.003.0004
Subject:
Economics and Finance, Economic History, History of Economic Thought

This chapter discusses Richard Cantillon's background and contributions to macroeconomics. The Essai sur la nature du commerce en général is Cantillon's only known work. The Essai is remarkable on ... More


François Quesnay: The Circular Flow of Income

Antoin E. Murphy

in The Genesis of Macroeconomics: New Ideas from Sir William Petty to Henry Thornton

Published in print:
2008
Published Online:
May 2009
ISBN:
9780199543229
eISBN:
9780191715709
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199543229.003.0006
Subject:
Economics and Finance, Economic History, History of Economic Thought

This chapter discusses François Quesnay's contributions to macroeconomics. The “Tableau économique”, the “Economic Picture”, was Quesnay's visual representation of the macroeconomy. The “Tableau ... More


David Hume: The Classical Theory of Money

Antoin E. Murphy

in The Genesis of Macroeconomics: New Ideas from Sir William Petty to Henry Thornton

Published in print:
2008
Published Online:
May 2009
ISBN:
9780199543229
eISBN:
9780191715709
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199543229.003.0005
Subject:
Economics and Finance, Economic History, History of Economic Thought

This chapter discusses David Hume's background and contributions to macroeconomics. Hume's book, Political Discourses, consists mainly of essays—seven out of the twelve—on economic issues. Hume had ... More


Anne Robert Jacques Turgot: The Importance of Capital

Antoin E. Murphy

in The Genesis of Macroeconomics: New Ideas from Sir William Petty to Henry Thornton

Published in print:
2008
Published Online:
May 2009
ISBN:
9780199543229
eISBN:
9780191715709
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199543229.003.0007
Subject:
Economics and Finance, Economic History, History of Economic Thought

This chapter discusses Anne Robert Jacques Turgot's background and contributions to macroeconomics. His introduction of capital was not a mere semantic addition to the economists' lexicon. He was ... More


Adam Smith: Land, Labour, Capital, and Social Cement

Antoin E. Murphy

in The Genesis of Macroeconomics: New Ideas from Sir William Petty to Henry Thornton

Published in print:
2008
Published Online:
May 2009
ISBN:
9780199543229
eISBN:
9780191715709
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199543229.003.0008
Subject:
Economics and Finance, Economic History, History of Economic Thought

This chapter discusses Adam Smith's background and contributions to macroeconomics, focusing on his ideas on economic growth and monetary theory. Topics covered include his lectures on jurisprudence, ... More


Henry Thornton: The Lender of Last Resort

Antoin E. Murphy

in The Genesis of Macroeconomics: New Ideas from Sir William Petty to Henry Thornton

Published in print:
2008
Published Online:
May 2009
ISBN:
9780199543229
eISBN:
9780191715709
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199543229.003.0009
Subject:
Economics and Finance, Economic History, History of Economic Thought

This chapter discusses Henry Thornton's background and contributions to macroeconomics. Topics covered include his writing of Paper Credit, his criticisms of Adam Smith's monetary economics, and ... More


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