Several Essays in Political Arithmetick

William Petty

London : Printed for D. Browne ; J. Shuckburgh, and J. Whiston and B. White, 1755

4th ed, substantially enlarged. 21 cm. Bound in contemporary acid-calf.  Rebacked, with later spine. 5 raised bands. Red leather spine label. Blind stamp on title.  Generally clean internally.  IV, VI, 184 p., [2] of advertisements. Kress 5463. Goldsmith 8998. 

An important book in the history of political economy, first published in 1699.  William Petty studied the demographics and economics of England, Holland, France, as well as the cities of London, Dublin and Rome.  Petty was the personal secretary of Thomas Hobbes, an Oxford-trained doctor, and a medical professor.  During the English Civil War he traveled in Cromwell's army as physician-general.   He later was an MP and surveyor-general in Ireland.  His work in Ireland and receipt of a landed estate, focused Petty on problems in social science and economics.  

Petty's groundbreaking work in economics preceded that of Adam Smith by over 60 years.  He laid the foundation for mathematical economic analysis of a nation or city, periodic census of the people, and a more precise understanding of the positive and negative methods of the distribution of wealth.  He is best known for the development of the concept of gross domestic product, theories of unemployment, and the function of money supply on an economy.  Another of Petty's great inventions was the "quantity theory of money," a central theory in monetary economics.  The quantity theory of money attempted to calculate the cash needed for all the transactions of an economy, find out how quickly it circulated, and to derive an estimate of the amount of money needed to keep interest rates solid.  Ref: "Petty impressive: Meet Sir William Petty, the man who invented economics," The Economist, Dec 21st 2013.  

Contents: The life of Sir William Petty -- An essay concerning the multiplication of mankind; together with another essay in political arithmetick, concerning the growth of the city of London: with the measures, periods, causes, and consequences thereof, 1682. The second ed., revised and enlarged -- Observations on the Dublin Bills of Mortality, 1681. And the state of that city -- Further observations upon the Dublin accompts of baptisms and burials, houses and hearths -- Two essays in political arithmetick, concerning the people, housing, hospitals, &c. of London and Paris -- Observations upon the cities of London and Rome -- Five essays in political arithmetick ... London 1687 -- Political arithmetick, concerning the extent and value of lands, people, buildings; husbandry, manufactures, commerce, fishery, artizans, seamen, soldiers; publick revenues, interest, taxes, superlucration, registries, banks; valuation of men, increasing of seamen, of militia's, harbours, situation, shipping, power at sea &c. As the same relates to every country in general but more particularly to the territories of his majesty of Great Britain, and his neighbours of Holland, Zealand, and France. 1691.