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An Essay on Economic Theory

An Essay on Economic Theory Following a century of neglect William Stanley Jevons in the first blush of discovery proclaimed Cantillon s Essai the cradle of political economy Subsequent growth and development of economic tho

  • Title: An Essay on Economic Theory
  • Author: Richard Cantillon Robert F. Hébert
  • ISBN: 9781610160018
  • Page: 377
  • Format: Paperback
  • Following a century of neglect, William Stanley Jevons, in the first blush of discovery, proclaimed Cantillon s Essai, the cradle of political economy Subsequent growth and development of economic thought has not really alerted us to the subtleties of this succinct appraisal A cradle holds new life and there can be little doubt that the Essai added new life to the orgFollowing a century of neglect, William Stanley Jevons, in the first blush of discovery, proclaimed Cantillon s Essai, the cradle of political economy Subsequent growth and development of economic thought has not really alerted us to the subtleties of this succinct appraisal A cradle holds new life and there can be little doubt that the Essai added new life to the organizing principles of economics But political economy does not accurately describe the subject Cantillon addressed Indeed, he scrupulously avoided political issues in order to concentrate on the mechanics of eighteenth century economic life.

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    About "Richard Cantillon Robert F. Hébert"

    1. Richard Cantillon Robert F. Hébert

      Richard Cantillon was an Irish French economist and author of Essai sur la Nature du Commerce en G n ral Essay on the Nature of Trade in General , a book considered by William Stanley Jevons to be the cradle of political economy Although little information exists on Cantillon s life, it is known that he became a successful banker and merchant at an early age His success was largely derived from the political and business connections he made through his family and through an early employer, James Brydges During the late 1710s and early 1720s, Cantillon speculated in, and later helped fund, John Law s Mississippi Company, from which he acquired great wealth However, his success came at a cost to his debtors, who pursued him with lawsuits, criminal charges, and even murder plots until his death in 1734.

    506 Comments

    1. This book by Cantillon is the only portion of his great work that made it through history. No painting of Cantillon exists so we must depend on these words and history to get a good picture of the man. We know from history that he was born in Ireland and became a banker in Paris during the end of the reign of Louis XIV. Many historians believe he was one of the richest men in Europe at that time. He is known to have married one of the most beautiful women on the continent. He is known to have in [...]


    2. To William Stanley Jevons, Cantillon's Essay is the "cradle of political economy". Indeed, here, well before Adam Smith, you can find a closed economy model, the invisible hand, the notion of entrepreneurs, a circular flow, velocity of circulation, von Thünen's location theory and much else, including the famous 'Cantillion effects', perhaps his seminal contribution. But it is harder to see the precursor to subjective value theory that the translator, Mark Thornton, does. When Cantillion talks [...]


    3. Version by Henry Higgs, econlib/library/NPDBoo. Cantillon's book is timeless. I wondered throughout how he would have viewed the not so distant financial crisis that was fueled by a global savings glut that encouraged greater spending, the housing boom and bust, and speculation in financial instruments that no one seemed to understand . It is now 2016, and countries still struggle.The warning of what will eventually come to pass when money becomes too plentiful/too scarce in a State due to trade [...]


    4. I wrote the foreword to the recent edition of this book published by Laissez Faire Books. Go to LFB. The book is well worth reading.


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