Legacy
A successful merchant banker, as a monetary theorist Thornton has been described as the father of the modern central bank. An opponent of the real bills doctrine, he was a defender of the bullionist position and a significant figure in monetary theory, his process of monetary expansion anticipating the theories of Knut Wicksell regarding the "cumulative process which restates the Quantity Theory in a theoretically coherent form". His work on 19th century monetary theory has won praise from present-day economists for his forward-thinking ideas, along the lines of those later developed by John Maynard Keynes.
Read more about this topic: Henry Thornton (reformer)
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“What is popularly called fame is nothing but an empty name and a legacy from paganism.”
—Desiderius Erasmus (c. 1466–1536)