“Political Anatomy” and the Idea of Public Wealth from William Petty to Adam Smith

Abstract

Inthe article, the author attempts to solve three interrelated problems. First, by offering new readings of key texts authored by leading British thinkers and representatives of different strands of seventeenth-century economic thought, she explores the emergence of the labour theory of value in the intellectual context of the seventeenth-century scientific revolution and under the influence of its inspirer, Francis Bacon. Secondly, the author raises the question of the exact form in which the idea of labour as the source and foundation of social wealth, expressed by William Petty, an active critic of the doctrine of mercantilism and one of the founding fathers of English political economy, was initially embodied, as well as the “art of numbers” – quantitative methods of economic and demographic statistics, in his first economic work – “A Treatise on Taxes and Contributions”, published in 1662. Thirdly, the author examines and evaluates the economic ideas and proposals of William Petty and his associates as an integral part of their political views and ideas about “social wealth” and the importance of scientific knowledge for the improvement of public administration. She pays particular attention to the connection between the economic views of William Petty, a major Irish landowner, as set out in “The Political Anatomy of Ireland”, “A Treatise on Ireland,1687”, and other statistical works, and George Berkeley, Bishop of Cloyne, with the assessment of the prospects for the development and future arrangement of Ireland, as well as with proposals for the unification of the two and even all three Kingdoms.