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Macroeconomics of Henry Thornton, or What Economists Did Know as far as 200 Years Ago

Oleg Ananyin

VOPROSY ECONOMIKI, 2002, vol. 12

Abstract: The paper is devoted to the 200th anniversary of Henry Thornton's work "An Enquiry into the Nature and Effects of the Paper Credit of Great Britain"(1802) - a remarkable attempt to develop macroeconomic theory long before K. Wicksell and J.M. Keynes. Essential historical, biographical and intellectual background of Thornton's book is provided as well as reconstruction of the logic of his macroeconomic thinking and presentation of the most innovative Thornton's contributions to economic theory.

Date: 2002
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