The Genesis of Macroeconomics: New Ideas from Sir William Petty to Henry Thornton by Antoin E. MurphyThe Genesis of Macroeconomics: New Ideas from Sir William Petty to Henry Thornton by Antoin E. Murphy

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

byAntoin E. Murphy

Paperback | December 25, 2008

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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 and Francois Quesnay), to philosophers (David Hume and Adam Smith), to bankers (RichardCantillon and Henry Thornton) to Prime Ministers of France (John Law and Anne Robert Jacques Turgot). These authors had very rich and varied careers and the book invites readers to imagine specific moments in their careers that influenced both their lives and their writings. Building on these eventsthe contributions of each author are outlined and discussed. Examination of their writings show that by the start of the nineteenth century they had left a rich legacy of macroeconomics ranging from the analysis and measurement of national income, the depiction of the circular flow of income, thedebate on the role of money in the economy, the way to model the economy, the importance of labour, land and capital, the role of entrepreneurship, the Central Bank as a lender of last resort, and much more.
Antoin E. Murphy is an associate professor of economics and fellow of Trinity College Dublin. His previous works include Richard Cantillon: Entrepreneur and Economist (OUP, 1986) and John Law: Economic Theorist and Policy-maker (OUP, 1997). He is a joint managing editor of The European Journal of the History of Economic Thought. In 200...
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Title:The Genesis of Macroeconomics: New Ideas from Sir William Petty to Henry ThorntonFormat:PaperbackDimensions:304 pagesPublished:December 25, 2008Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0199543232

ISBN - 13:9780199543236

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Table of Contents

1. Introduction: The Genesis of Macroeconomics2. Sir William Petty: National Income Accounting3. John Law: A New Monetary System4. Richard Cantillon: Macroeconomic Modelling5. David Hume: The Classical Theory of Money6. Francois Quesnay: The Circular Flow of Income7. Anne Robert Jacques Turgot: The Importance of Capital8. Adam Smith: Land, Labour, Capital and Social Cement9. Henry Thornton: The Lender of Last Resort10. Conclusion