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Measuring the national wealth in seventeenth‐century England

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  • PAUL SLACK

Abstract

This article discusses William Petty's 1665 estimate of the wealth of England and Wales—the first set of national accounts—and compares it with Gregory King's (1696), which is shown to be heavily influenced by it. There are conclusions about the methodology of the first political arithmeticians, the kinds of national resources which could be measured for the first time in the seventeenth century, and the lacunae which made it likely that Petty and King underestimated per caput and aggregate incomes. An appendix prints a contemporary analysis of hearth tax returns for every county.

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  • Paul Slack, 2004. "Measuring the national wealth in seventeenth‐century England," Economic History Review, Economic History Society, vol. 57(4), pages 607-635, November.
    • Handle: RePEc:bla:ehsrev:v:57:y:2004:i:4:p:607-635
    DOI: 10.1111/j.1468-0289.2004.00290.x
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    References listed on IDEAS

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    1. A.M. Endres, 1985. "The Functions of Numerical Data in the Writings of Graunt, Petty, and Davenant," History of Political Economy, Duke University Press, vol. 17(2), pages 245-264, Summer.
    2. Lindert, Peter H. & Williamson, Jeffrey G., 1982. "Revising England's social tables 1688-1812," Explorations in Economic History, Elsevier, vol. 19(4), pages 385-408, October.
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    Cited by:

    1. S. J. Thompson, 2013. "The first income tax, political arithmetic, and the measurement of economic growth," Economic History Review, Economic History Society, vol. 66(3), pages 873-894, August.
    2. Paul Slack, 2009. "Material progress and the challenge of affluence in seventeenth‐century England," Economic History Review, Economic History Society, vol. 62(3), pages 576-603, August.

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