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The Genesis of MacroeconomicsNew Ideas from Sir William Petty to Henry Thornton$
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Antoin E. Murphy

Print publication date: 2008

Print ISBN-13: 9780199543229

Published to Oxford Scholarship Online: May 2009

DOI: 10.1093/acprof:oso/9780199543229.001.0001

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Sir William Petty: National Income Accounting

Sir William Petty: National Income Accounting

(p.21) 2 Sir William Petty: National Income Accounting
The Genesis of Macroeconomics

Antoin E. Murphy (Contributor Webpage)

Oxford University Press

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 Parliament, demographer, cartographer, founding member of the Royal Society, industrialist, and author. He used his knowledge of medicine and anatomy and applied it to economic issues. He wrote a significant socio-economic analysis of the state of Ireland entitled Political Anatomy of Ireland. When this work was published posthumously in 1691, it also contained a work called Verbum Sapienti, which provided the first mold for the development of macroeconomic analysis.

Keywords:   macroeconomic analysis, macroeconomic ideas, economic treatises, medicine, atonomy, Ireland

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