tailieunhanh - History of Economic Analysis part 39

History of Economic Analysis part 39. At the time of his death in 1950, Joseph Schumpeter-one of the major figures in economics during the first half of the 20th century-was working on his monumental History of Economic Analysis. A complete history of humankind's theoretical efforts to understand economic phenomena from ancient Greece to the present, this book is an important contribution to the history of ideas as well as to economics. | History of economic analysis 342 being stronge against thinvasion of eneymies that this comes first is interesting to us from another standpoint . not molested with cyvile warres the people being wealthie author s italics and not oppressid with famyn nor penury of victualles the last words being clearly intended to illustrate the wealthie. Yet he wants an export surplus in order to get an import of bullion. Of seventeenth-century authors Serra Misselden Mun riches consisteth in the possession of those things which are needful for a civil life Child many tools or materials Cary Coke Yarranton and of course Barbon Davenant and Petty not to mention the advocates of paper money and of bank schemes can all be cited in support of the thesis that whatever their shortcomings may have been and however much they may have overstressed the importance of an increase in treasure wealth was defined explicitly or by implication much as we define it ourselves. A locus classicus occurs in a tract signed by Papillon 26 It is true that usually the measure of Stock or Riches is accounted by Money but that is rather in imagination than in reality A man is said to be worth Ten thousand pounds when possibly he hath not One hundred pounds in ready Money but his Estate if he be a Farmer consists in Land Corn or Cattle and Husbandry Implements. Yet turns of phrase like Wealth is Money do occur Sometimes they can be easily disposed of as façons de parler. Why Milles even says that Though money were the beames and exchange the very light yet bullion is the sonne quoted by Seligman in his article Bullionists . Shall we infer that he thought bullion and the sun were the same thing In other cases it may be necessary to remember that while we are dealing with pieces of analysis or attempts at analysis we are dealing with primitive analysis the methods of which differ but little from and on the lower levels readily shade off into those of the popular mind that still harbored .