Richard Cantillon and David Hume both propose the theory of monetary non-neutrality, whereby the money supply changes through the money balances of specific individuals. Such an uneven distribution of monetary change then spreads throughout the economy step by step and changes relative prices....

Economists have occasionally noticed the appearance of economists in cartoons produced for public amusement during crises. Yet the message behind such images has been less than fully appreciated. This paper provides evidence of such inattention in the context of the eighteenth century...

In 1481 when King John II ascended to the throne of Portugal, it was on the verge of bankruptcy. A quarter of a century later, Portugal all but ruled the world, economically and scientifically – at least. This article seeks to investigate the policy decisions of King John II and his successor,...

Nicolas Dutot (1684-1741) is an important figure for the history of economic thought, as a pioneer in monetary theory and price statistics, and for economic history as a chronicler of John Law's System. Yet until recently very little about him was known, some of it incorrect. I present extensive...

Early in the 18th century, before the birth of political economy as a discipline, two of the earliest novels in the English language were published: Robinson Crusoe (1719) by writer and economic entrepreneur Daniel Defoe, and Gulliver’s Travels (1726) by the cleric and political adviser...

Mit seinem Hauptwerk "Political Arithmetick" legte William Petty die Grundlage der modernen Sozial- und Wirtschaftsstatistik und der soziologischen Sozial-Berichterstattung. Sein Begriff der "politischen Arithmetik" konnte sich allerdings gegen den vom europäischen Kontinent stammenden Begriff...

Nicolas Dutot (1684–1741) is an important figure for the history of economic thought, as a pioneer in monetary theory and price statistics, and for economic history as a chronicler of John Law’s System. Yet until recently very little about him was known, some of it incorrect. I present...

Mit seinem Hauptwerk "Political Arithmetick" legte William Petty die Grundlage der modernen Sozial- und Wirtschaftsstatistik und der soziologischen Sozial-Berichterstattung. Sein Begriff der "politischen Arithmetik" konnte sich allerdings gegen den vom europäischen Kontinent stammenden Begriff...

Gordon Tullock denied the scientific status to economics because economists can trade results with the subject of our analysis, e.g., “you can have a low estimate for nothing but a high one will cost you something.” We suppose this to be the fate all disciplines in which the results matter...

Early in the 18th century, before the birth of political economy as a discipline, two of the earliest novels in the English language were published: Robinson Crusoe (1719) by writer and economic entrepreneur Daniel Defoe, and Gulliver's Travels (1726) by the cleric and political adviser Jonathan...