December 2014
Beginner
352 pages
14h 24m
English
Content preview from The Economics Book
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IN CONTEXT
FOCUS
Economic methods
KEY THINKER
William Petty (1623–87)
BEFORE
1620 English scientist Francis Bacon argues for a new approach to science based on the collection of facts.
AFTER
1696 English statistician Gregory King writes his great statistical survey of England’s population.
1930s Australian economist Colin Clark invents the idea of gross national product (GNP).
1934 Russian-US economist Simon Kuznets develops modern national income accounting methods.
1950s British economist Richard Stone introduces balanced, double-entry national accounting.
Today we take it for granted that the economy can be measured, and its expansions and contractions ...
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