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The Genesis of Macroeconomics Antoin E. Murphy (Associate Professor of Economics, Trinity College Dublin)

The Genesis of Macroeconomics By Antoin E. Murphy (Associate Professor of Economics, Trinity College Dublin)

The Genesis of Macroeconomics by Antoin E. Murphy (Associate Professor of Economics, Trinity College Dublin)


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Summary

This is a book about the discovery of the great macroeconomic concepts and ideas by a group of exciting people between the late 17th and early 19th century. Engaging and vividly written, the book shows readers how economic concepts evolve over time and are influenced by contemporary developments.

The Genesis of Macroeconomics Summary

The Genesis of Macroeconomics: New Ideas from Sir William Petty to Henry Thornton by Antoin E. Murphy (Associate Professor of Economics, Trinity College Dublin)

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 (Richard Cantillon 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 events the 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, the debate 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.

About Antoin E. Murphy (Associate Professor of Economics, Trinity College Dublin)

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 2001, the European Society of the History of Economic Thought awarded him the Jerome Blanqui prize for the best published work on the history of economic thought resulting from his editing of Du Tot Histoire du Systeme de John Law (1716-1720) published by I.N.E.D./P.U.F., Paris 2000.

Table of Contents

1. Introduction: The Genesis of Macroeconomics ; 2. Sir William Petty: National Income Accounting ; 3. John Law: A New Monetary System ; 4. Richard Cantillon: Macroeconomic Modelling ; 5. David Hume: The Classical Theory of Money ; 6. Francois Quesnay: The Circular Flow of Income ; 7. Anne Robert Jacques Turgot: The Importance of Capital ; 8. Adam Smith: Land, Labour, Capital and Social Cement ; 9. Henry Thornton: The Lender of Last Resort ; 10. Conclusion

Additional information

NPB9780199543229
9780199543229
0199543224
The Genesis of Macroeconomics: New Ideas from Sir William Petty to Henry Thornton by Antoin E. Murphy (Associate Professor of Economics, Trinity College Dublin)
New
Hardback
Oxford University Press
2008-12-25
246
N/A
Book picture is for illustrative purposes only, actual binding, cover or edition may vary.
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