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Topic: Richard Cantillon


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  Richard Cantillon - Wikipedia, the free encyclopedia
Richard Cantillon (1680-1734) was an important figure in the Physiocrat school of economics, and was influential for the development of the classical economists.
Cantillon is acknowledged as a precursor of the Austrian school of economic thought.
Cantillon was born in the town of Ballyheigue, County Kerry, Ireland, lived a considerable portion of his life in France, and died in London.
en.wikipedia.org /wiki/Richard_Cantillon   (367 words)

  
 Biography of Richard Cantillon   (Site not responding. Last check: 2007-10-13)
Cantillon acknowledges that the large estates were taken by force, reflecting the fact that his ancestors took ownership of the land from the Irish and that these estates were in turn taken from them by force.
Cantillon's conception of cost as the sacrifice of land and labor fore- gone is far more advanced than the land theory of cost and value advanced by the Physiocrats, or the labor theory of cost and value advanced by the classical economists.
Cantillon clearly saw that when a landlord chose to own more horses, what he was giving up was the production (and sale) of grain, and that if France wished to import fine lace, then she would have to forego a large amount of wine produced from her vineyards.
www.mises.org /cantillon.asp   (5989 words)

  
 Richard Cantillon / Biography   (Site not responding. Last check: 2007-10-13)
Cantillon, acknowledged by many historians as the first great economic "theorist", is an obscure character.
Cantillon was one of the first to recognize the circular flow of income and set the foundations both for Physiocracy as well as Classical Political Economy.
Cantillon was also one of the first (and among the clearest) articulators of the Quantity Theory of Money and attempted to provide much of the reasoning behind it.
www.cooperativeindividualism.org /cantillonbio.html   (312 words)

  
 Hayek, Richard Cantillon: Library of Economics and Liberty
Cantillon married, apparently in London, in 1722 (the deeds of marriage there are dated February 16, 1722) Mary Anne Mahony, the daughter of Daniel Mahony (or O'Mahony, which led the French to write Ommani), a rich Irish merchant from Paris, from his marriage with the widowed Lady Clare, née Charlotte Bulkeley.
Cantillon himself was the partner of limited liability; he supplied the entire capital and was entitled to two-thirds of the profits, the other third going to Hughes, more or less in his capacity as manager.
Cantillon adopted the standpoint, as he later explained, that the shares had not been lodged by serial number with him and were not a deposit in the strict sense but rather an undifferentiated lodgment and hence that no client had a claim to specific shares.
www.econlib.org /library/Essays/JlibSt/hykCnt1.html   (10133 words)

  
 Higgs, Life and Work of Richard Cantillon, in Cantillon, Essay on the Nature of Trade in General, Higgs, ed.: Library ...
He must have found there that Richard Cantillon was engaged in numerous lawsuits, and Jevons was not the sort of man to leave a clue of this kind neglected.
Richard Cantillon the economist, according to the Revue historique a first cousin of the Chevalier, was probably born between 1680 and 1690.
Mr Cantillon [the name is again struck out and replaced by "The author"] translated it himself for the use of one of his intimate friends, and postponed the translation of the Supplement, which perished with his other papers....
www.econlib.org /library/NPDBooks/Cantillon/cntNT9.html   (7321 words)

  
 Richard CANTILLON
Cantillon's entire reputation rests on his one remarkable treatise, Essai Sur la Nature du Commerce en Général was written in French circa 1732 and published anonymously in England some twenty years after his death (some claim it was only a French translation of a lost English original).
Cantillon was perhaps the first to define long-run equilibrium as the balance of flows of income, thus setting the foundations both for Physiocracy as well as Classical Political Economy.
Cantillon's careful description of a supply-and-demand mechanism for the determination of short-run market price (albeit not long-run natural price) also stand him as a progenitor of the Marginalist Revolution.
cepa.newschool.edu /het/profiles/cantillon.htm   (565 words)

  
 On Wall Street - A SourceMedia and Investcorp publication   (Site not responding. Last check: 2007-10-13)
After the debacle ended, Cantillon returned to Paris, although he was not at all appreciated by the bankrupt speculators whose folly and greed had allowed him to fill his purse at their expense.
Cantillon's contribution to modern economics was an early application of economic abstraction, what Austrian economists would call "economic reasoning." Cantillon saw human action as a key variable in economic equations.
Cantillon said that the entrepreneur and capitalist--by taking risks in pursuit of gains, by investing resources in the future, and by successfully forecasting trends--facilitate the adjustment and balance of supply and demand in various markets.
www.onwallstreet.com /article.cfm?articleId=750   (1349 words)

  
 George Berkeley and Richard Cantillon:
Cantillon thought that a favorable balance of trade was necessary for a nation to grow, but was also concerned with the nature of the material traded and its long term effects.
Cantillon was also careful to note that there was only a small window of opportunity during which this type of corrective action could take place, as within a few years poverty could overcome the strongest nation.
Cantillon argued that “If enough employment cannot be found to occupy the 25 persons in a hundred upon work useful and profitable to the state, I see no objection to encouraging employment which serves only for ornament or amusement.
www.ehs.org.uk /othercontent/breuninger.htm   (3741 words)

  
 Richard Cantillon's   (Site not responding. Last check: 2007-10-13)
Cantillon's setting was the first great breakthrough in economic theory - for it provided the fundamental structural idea behind the concept of an "economy" which was to possess all subsequent economics - Physiocratic, Classical and Neoclassical.
As such, Cantillon foresaw there would be a "circular flow of income and expenditure" between landlords and laborers, the former contributing their land and receiving rents which they subsequently spent on luxuries, the latter contributing their labor and receiving wages and spending those on necessities.
Cantillon's idea that "flows of income" were the proper subject of economic analysis was already a path-breaking insight, as it tore away from the Mercantilist obsession with the "stock of wealth".
www.uapb.edu /busmg/classes/historycltv.htm   (2506 words)

  
 Cantillon's Paradise: Richard Cantillon   (Site not responding. Last check: 2007-10-13)
Richard Cantillon (1680?-1734) was an Irishman with a Spanish name that wrote his book in French.
Cantillon was murdered in his sleep, burned by a servant he had recently fired.
Although not likely, one historian suggests that the murder was an elaborate scam to free Cantillon of his criminal and financial troubles.
cantillonparadise.blogspot.com /2004/09/richard-cantillon.html   (282 words)

  
 Cantillon Bio: The Online Library of Liberty   (Site not responding. Last check: 2007-10-13)
Richard Cantillon, Irish born but living in Paris as a young man, from circumstances became a banker/broker there, and moved in influential, educated social circles.
Intrigue, murder, posthumous plagiarism, citations by Adam Smith, rediscovery by William Stanley Jevons a century later, and a stunning work on entrepreneurial risk, money, foreign exchange, and banking from the 1700s, are all pieces of the continuing puzzle that surrounds him.
William Stanley Jevons, "Richard Cantillon and the Nationality of Political Economy" (1881).
oll.libertyfund.org /Intros/Cantillon.php   (133 words)

  
 [No title]
Discuss Cantillon’s critique of the simple quantity theory and address his theory of the effects of a change in the money supply upon prices.
Present Cantillon’s view of interest rate determination, including his view of the effects of interest rate regulation and the effects of changes in the money supply on interest rates.
Present Cantillon’s argument for the existence of discounts (premium) in foreign exchange; the effect of other determinants of foreign exchange, and the effects of foreign exchange controls.
ec.boisestate.edu /adalton/ArchivedHETSpring2005/SQ-11Cantillon.doc   (271 words)

  
 Richard Cantillon - Selected primary works
Cantillon, Richard, Henry Higgs, and William Stanley Jevons.
"Richard Cantillon and the nationality of political economy, by W. Stanley Jevons": p.
Presented at the Cantillon symposium, Pacific Grove, California, August 27 to 30, 1980.
socserv2.socsci.mcmaster.ca /~econ/ugcm/3ll3/cantillon/cantillon.html   (397 words)

  
 Amazon.com: Richard Cantillon: Books: Anthony Brewer   (Site not responding. Last check: 2007-10-13)
Richard Cantillon, who wrote fifty years before Adam Smith, was the first economist to see the economy as an interrelated whole and the first to give a coherent account of how it works.
Mercantilism has been regarded as irrational since the attacks of Smith, yet Cantillon's views are shown to be a logical consequence of his pioneering analysis of the workings of the international economic system.
The second part of the book sets Cantillon in the context of the development of economic thought in the seventeenth and eighteenth centuries, and shows that he took less from his predecessors than has been thought, and gave more to his successors than they were willing to admit.
www.amazon.com /Richard-Cantillon-Anthony-Brewer/dp/0415075777   (934 words)

  
 INTERNETIX - Yrittäjyys - Cantillon   (Site not responding. Last check: 2007-10-13)
Cantillon gave an entrepreneur a co-ordinating role in which he searches for the equilibrium of demand and supply and sells products/services for the best possible price.
Owning and entrepreneurship were two separate things to Cantillon, although he advocated the idea that an entrepreneur can also be an owner and/or a consumer.
Cantillon was succeeded by the French physiocrats' school.
www.uta.fi /entrenet/english/internetix/cantilloEN.htm   (290 words)

  
 THE INTERTEMPORAL ADAM SMITH
Cantillon was concerned with the allocation of resources among nations during a given period of time; Smith was concerned with the allocation of resources among periods of time for a given nation.
The distinction between the two uses of labor is significant as a manifestation (probably the most pronounced manifestation) of Smith's bias against the present and in favor of the future.
Had Richard Cantillon or Francois Quesnay, rather than Adam Smith, achieved the status of the Father of Economics, Friedman may well have announced the third goals as a favorable balance of trade or as a prosperous agriculture sector.
www.auburn.edu /~garriro/d7smith.htm   (4326 words)

  
 Richard Cantillon / Essay on the Nature of Commerce, Part 1
Richard Cantillon / Essay on the Nature of Commerce, Part 1
The land is the source or matter from whence all wealth is produced.
If, for example, one man earn an ounce of silver every day by his work, and another in the same place earn only half an ounce, one can conclude that the first has as much again of the produce of the land to dispose of as the second.
www.cooperativeindividualism.org /cantillon_commerce1.html   (2434 words)

  
 Cantillon's System
General equilibrium theory, indeed much of economics itself, owes its existence to an Irishman who lived obscurely in 18th Century France by the name of Richard Cantillon.
If the economic system is to achieve this natural state, Cantillon reasoned, there there must be some mechanism to maintain the balance of income flows.
We have reduced labor to land and thus we have a "land theory of value" - which Cantillon announced with his opening sentence: "The land is the source or matter from whence all wealth is produced." (Cantillon, 1755: p.2).
cepa.newschool.edu /het/essays/youth/cantsys.htm   (2419 words)

  
 Mises Economics Blog: Was Richard Cantillon a Mercantilist?
In contrast to the widely held perspective that Cantillon was a mercantilist, evidence is presented that indicates that such a categorization is not scientifically valid.
He generally did not advocate or endorse mercantilist economic policies and was sharply critical of the mercantilist policies that he did write about.
Even when Cantillon seemed to agree with mercantilist objectives in such areas as international trade and money, there is sharp divergence in analysis and rationale between Cantillon and his self-described opponents—the English mercantilists.
blog.mises.org /blog/archives/003968.asp   (154 words)

  
 Amazon.com: "Richard Cantillon": Key Phrase page   (Site not responding. Last check: 2007-10-13)
These include particularly Richard Cantillon, Montesquieu, David Hume and Franois Quesnay as well as Locke, but in addition Du Tot, Forbonnais, Hobbes, Law, Melon and...
I SIR JAMES STEUART AND RICHARD CANTILLON Peter Groenewegen Introduction There has been a strong presumption in the literature that Sir James Steuart was familiar with the...
Richard Cantillon, Franqois Quesnay, and David Hume were much more than minor predecessors of Adam Smith.
www.amazon.com /phrase/Richard-Cantillon   (522 words)

  
 Richard Cantillon and the Discovery of Opportunity Cost1 (SMEALSearch) - Pal,Rangaswamy,Giles,Debnath   (Site not responding. Last check: 2007-10-13)
Here, it is shown that Richard Cantillon, the father of economic theory and method, developed and applied the concept of opportunity cost.
His "intrinsic value" was not an objective cost approach, but merely an attempt to estimate opportunity cost.
This finding exonerates Cantillon from the charge of objective cost theorist and predates the discovery of opportunity cost one hundred and forty years earlier.
gunther.smeal.psu.edu /89556.html   (283 words)

  
 Hayek, "Richard Cantillon" ToC: The Online Library of Liberty   (Site not responding. Last check: 2007-10-13)
Hayek was one of the most important free market economists of the 20th century.
Such was Hayek’s interest in the writings of Richard Cantillon, whom he believed had had a number of "Austrian insights", that he introduced the German translation which appeared in 1931.
Liberty Fund, was established to foster thought and encourage discourse on the nature of individual liberty, limited and constitutional government, and the free market.
oll.libertyfund.org /Home3/HTML.php?recordID=0780   (241 words)

  
 Private Act, 8 George II, c. 10 1734
And whereas, for Want of a legal Representative of the said Testator, the Estate of the said Richard Cantillon cannot be collected, or got in, nor a Discovery obtained of several Effects, which arc apprehended to be very considerable, and in the Hands of Foreign Merchants, whereby great Prejudice may arise to the said Estate.
And whereas the said Mary-Anne Cantillon, the Mother and natural Guardian of the said Henrietta Cantillon, the residuary Legatee, is greatly concerned and interested in the proper Management of the said Testator's Estate.
And whereas Henry Furnese, of the Parish of Saint George Hannover-Square, in the County of Middlesex, Esquire, is a Party greatly concerned and interested in the Event and Consequence of several of the said Suits so depending, as aforesaid.
www.taieb.net /auteurs/Cantillon/act.html   (308 words)

  
 Richard Cantillon - Anthony Brewer - Microsoft Reader eBook
His only surviving work, the Essai sur la nature du commerce en general was an astonishing achievement: the first analysis of the economy as an interrelated whole.
Simply to sketch such a theory would have been a major advance, but Cantillon worked out the implications of his model with a rigour unmatched for a century or more.
Mercantilism has been regarded as irrational ever since Smith's attack on it, but Cantillon's views are shown to be a logical consequence of his pioneering analysis of the workings of the international economic system.
www.ebookmall.com /ebook/82523-ebook.htm   (853 words)

  
 Rational Exuberance - Forbes.com   (Site not responding. Last check: 2007-10-13)
And it generated a massive fortune for the Irishman Richard Cantillon (1680?-1734), whose Essay on the Nature of Trade In General (1755), predates Adam Smith's Wealth of Nations (1776) as the first treatise of modern economics.
Richard Cantillon made two fortunes out of the Mississippi System.
Cantillon knew that French livres were not backed by hard specie.
www.forbes.com /columnists/global/2000/0612/0312068a_2.html   (786 words)

  
 OUP: UK General Catalogue
Read it as an account of high finance in an age when financial sophistication was galloping ahead of the appropriate codes of business ethics.
This is a study of Irish-born Richard Cantillon, eighteenth century banker and economist whose Essai sur la Nature du Commerce en General (1755), published twenty-one years after his death, remains a significant contribution to the development of monetary theory.
Cantillon's life was an exciting story of involvement in high-level international banking, and speculation in foreign exchanges, commodities and stocks at the time of the South Sea Bubble.
www.oup.com /uk/catalogue/?ci=9780198285359   (360 words)

  
 FRENCH LIBERALISM
Richard Cantillon – A Man of His Time: A Comment on Tarascio
Richard Cantillon and the Origin of Economic Theory (Journal des Economistes et des Etudes Humaines March.
Hebert, Robert F. Was Richard Cantillon an Austrian Economist?
www.kolumbus.fi /mdewit/rationalistliberalism3.htm   (615 words)

  
 Best From Web / Intellectual History   (Site not responding. Last check: 2007-10-13)
Richard Cantillon, A Man Of His Time: A Comment on Tarascio
Richard Cantillon and the French Economists: Distinctive French Contributions to J.B. Say
The Influence of Cantillon's Essai on The Methodology of J.B. Say: A Comment on Liggio
libertystory.net /LSBESTINTELLECTHISTMENU.htm   (146 words)

  
 Opera Directory   (Site not responding. Last check: 2007-10-13)
An essay investigating a two-sector model of general equilibrium to illustrate the theory laid out in Cantillon's Essay on the Nature of Commerce.
Preface to Cantillon's "Essay on the Nature of Trade in General".
Includes "An Essay on Commerce in General," back when they could name their works such things.
portal.opera.com /web/?cat=5856476   (127 words)

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