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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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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 13 April 2021

Richard Cantillon: Macroeconomic Modelling

Richard Cantillon: Macroeconomic Modelling

(p.73) 4 Richard Cantillon: Macroeconomic Modelling
The Genesis of Macroeconomics

Antoin E. Murphy (Contributor Webpage)

Oxford University Press

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 many fronts and the following contributions are emphasized: the model-building approach; the description of the role of the entrepreneur; the analysis of market forces; the outline of the circular flow of income; the monetary theory. Cantillon's legacy was to leave to future generations a model-building framework for analysing the economy.

Keywords:   macroeconomic ideas, macroeconomics, Essai, model building, entrepreneur, monetary theory

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