William Petty
Sir William Petty FRS (27 May 1623 – 16 December 1687) was an English economist, scientist and philosopher. He first became prominent serving Oliver Cromwell and Commonwealth in Ireland. He developed efficient methods to survey the land that was to be confiscated and given to Cromwell's soldiers. He also managed to remain prominent under King Charles II and King James II, as did many others who had served Cromwell.
He was Member of the Parliament of England briefly and was also a scientist, inventor, and entrepreneur, and was a charter member of the Royal Society. It is for his theories on economics and his methods of political arithmetic that he is best remembered, however, and he is attributed as having started the philosophy of 'laissez-faire' in relation to government activity. He was knighted in 1661. He was the great-grandfather of the future Prime Minister, William Petty Fitzmaurice, 2nd Earl of Shelburne and 1st Marquess of Landsdowne.
Read more about William Petty: Life and Influences, Economic Works and Theories: Overview, Fiscal Contributions, National Income Accounting, Statistician, Money Supply and The Velocity of Its Circulation, Theory of Value, The Interest Rate, Laissez-faire Governance, Foreign Exchange and Control of Trade, Full Employment, Division of Labour, Urban Society, Summary and Legacy, Publications, Bibliography
Famous quotes containing the word petty:
“There be as many persons of a king, as there be petty constables in his kingdom. And so there are, or else he cannot be obeyed. But I never said that a king, and every one of his persons, are the same substance.”
—Thomas Hobbes (1579–1688)