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A cradle holds new life; and there can be little doubt that the Essai added new life to the organizing principles of economics. But “political economy” does not accurately describe the subject Cantillon addressed. Indeed, he scrupulously avoided political issues in order to concentrate on the mechanics of eighteenth-century economic life. When confronted by “extraneous” factors, such as politics, Cantillon insisted that such considerations be put aside, “so as not to complicate our subject,” he said, thus invoking a kind of ceteris paribus assumption before it became fashionable in economics to do so.

Murray Rothbard, for this reason, called Cantillon the "founding father of modern economics."

This book preceded Adam Smith by a generation. Unlike any previous writer, Cantillon explicated the vital role of the entrepreneur with perception and vigor. Hence, he deserves to be called “the father of enterprise economics.”

We know little of Cantillon’s life and the circumstances of his authorship. The manuscript that was eventually published in 1755 circulated privately in France for almost two decades before; when published, it appeared under mysterious circumstances.

Mark Thornton and Chantal Saucier have accomplished the arduous task of bringing forth a new and improved translation of Cantillon’s famous work. Heretofore the only English translation of the Essai available has been the 1931 edition produced by Henry Higgs for the Royal Economic Society. Though competent, it has become less serviceable over time, as more and more of its shortcomings devolved (not the least of which is the antiquated use of “undertaker” in place of “entrepreneur”).

Saucier provides a more accurate and lucid account, better suited to the 21st century. Thornton’s hand shows not only in competent guidance of the translator but in the inclusion of numerous explanatory footnotes that add historical context.

Robert F. Hébert writes the foreword.

(based on 2 reviews)
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by R.R. Schoettker
on 9/17/2010
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Classics deserve better format
by Jonathan Finegold Catalán
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The Root of Modern Political Economy

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  • Publisher ‏ : ‎ Ludwig von Mises Institute (May 8 2018)
  • Language ‏ : ‎ English
  • Paperback ‏ : ‎ 252 pages
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an essay on economic theory cantillon

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an essay on economic theory cantillon

An Essay on Economic Theory

Publisher description.

Here at last is the first accurate and beautiful translation of Richard Cantillon's 1755 masterpiece on economics — widely credited with being the first to describe the market process as one driven by entrepreneurship. Unlike any previous writer, Cantillon explicated the vital role of the entrepreneur with perception and vigor. William Stanley Jevons, in the first blush of discovery, proclaimed Cantillon's Essai , "the cradle of political economy." There can be little doubt that it added new life to the organizing principles of economics. But "political economy" does not accurately describe Cantillon's subject. Indeed, he scrupulously avoided political issues in order to concentrate on the mechanics of 18th-century economic life. He insisted that political considerations be put aside, "so as not to complicate our subject" — thus invoking a kind of ceteris paribus assumption before it became common in economics to do so. For this reason, Murray Rothbard called Cantillon the "founding father of modern economics." We know little of Cantillon's life and circumstances of authorship. The manuscript that was eventually published in 1755 had by then circulated privately in France for almost two decades. When published, it appeared under mysterious circumstances. Mark Thornton and Chantal Saucier have accomplished the arduous task of bringing forth a new and improved translation of Cantillon's famous work. Heretofore the only available English translation has been the 1931 edition produced by Henry Higgs for the Royal Economic Society. Though competent, it has become less serviceable over time, as more and more of its shortcomings emerged (not the least of which is the use of "undertaker" in place of "entrepreneur"). Saucier provides an accurate and lucid account better suited to the 21st century. Thornton's hand shows in his competent guidance of the translator and in the inclusion of numerous footnotes that add historical context. Robert F. Hébert writes the foreword.

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Richard Cantillon: An Essay on Economic Theory (1730)

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an essay on economic theory cantillon

COMMENTS

  1. An Essay on Economic Theory

    An Essay on Economic Theory. Here is the first accurate translation of Richard Cantillon's 1755 masterpiece on economics. This treatise is widely credited with being the first to describe the market process as one driven by entrepreneurship. William Stanley Jevons, in the first blush of discovery, proclaimed Cantillon's Essai, "the cradle ...

  2. PDF An Essay on Economic Theory

    6 An Essay on Economic Theory economy, not a political one, in which certain individuals played key roles, some passive and some active. government, as we know it, was relatively passive in Cantillon's economy. The most active and central participant was the entrepreneur, who motivates the entire economic system. unlike

  3. An Essay on Economic Theory: Cantillon, Richard, Thornton, Mark

    Methodologically, Cantillon's Essai is "the first treatise on economics" (W.S. Jevons), a systemic exposition that first demarcated economics as an independent area of investigation. Cantillon uses modern methods to analyze value and price, money, entrepreneurship and self-regulating free markets.

  4. An Essay on Economic Theory

    Mark Thornton and Chantal Saucier's Introduction to the new translation of Richard Cantillon's An Essay on Economic Theory. 1.1. Wealth. 12/31/2014 • Richard Cantillon. Tags: Monetary Theory, Value and Exchange. Cantillon defines wealth as the consumption goods produced by land and labor. 1.2.

  5. Essay on Economic Theory Kindle Edition

    Essay on Economic Theory - Kindle edition by Cantillon, Richard, Thornton, Mark, Hébert, Robert F., Saucier, Chantal. Download it once and read it on your Kindle device, PC, phones or tablets. Use features like bookmarks, note taking and highlighting while reading Essay on Economic Theory.

  6. Introduction to An Essay on Economic Theory

    Introduction to Richard Cantillon's An Essay on Economic Theory. Cantillon deals with a wide variety of fundamental and philosophical issues such as the nature of property, the distribution of income, the origin of money, and the role of government. Narrated by Millian Quinteros.

  7. Essay on Economic Theory, An

    Essay on Economic Theory, An. This book preceded Adam Smith by a generation. Unlike any previous writer, Cantillon explicated the vital role of the entrepreneur with perception and vigor. TO SUPPORT MISES! At last, and finally, here is the first accurate and beautiful translation of Richard Cantillon's 1755 masterpiece on economics.

  8. An Essay on Economic Theory

    An Essay on Economic Theory. Richard Cantillons, Mark Thornton. Ludwig von Mises Institute, 2010 - Business & Economics - 251 pages. At last, and finally, here is the first accurate and beautiful translation of Richard Cantillon's 1755 masterpiece on economics. This treatise is widely credited with being the first to describe the market process ...

  9. An Essay on Economic Theory: Cantillon, Richard, Thornton, Mark

    Cantillon's economic theory is really a set of economic laws much the same as gravity is a law taking place infront of our eyes each day, rather than a theory subject to debate. Read more. 3 people found this helpful. Report. CliffB. 5.0 out of 5 stars A Firsthand View Of Business / Economics in the early 1700's.

  10. Essay on Economic Theory, An

    Essay on Economic Theory, An. Richard Cantillon. Ludwig von Mises Institute, 2010 - Commerce - 251 pages . ... Richard Cantillon No preview available - 2010. Common terms and phrases.

  11. An Essay on Economic Theory (Large Print Edition): An English

    An Essay on Economic Theory (Large Print Edition): An English translation of the author's Essai sur la Nature du Commerce en Général [Cantillon, Richard, Thornton, Mark, Saucier, Chantal, Herbert, Robert F.] on Amazon.com. *FREE* shipping on qualifying offers. An Essay on Economic Theory (Large Print Edition): An English translation of the ...

  12. An Essay on Economic Theory by Richard Cantillon

    Richard Cantillon (d. 1734) was an Irish-French economist and author of Essai sur la Nature du Commerce en Général (Essay on the Nature of Trade in General), a book considered by William Stanley Jevons to be the "cradle of political economy". Although little information exists on Cantillon's life, it is known that he became a successful ...

  13. Essay on Economic Theory, An by Richard Cantillon

    Essay on Economic Theory, An - Ebook written by Richard Cantillon. Read this book using Google Play Books app on your PC, android, iOS devices. Download for offline reading, highlight, bookmark or take notes while you read Essay on Economic Theory, An.

  14. An Essay on Economic Theory : Richard Cantillon, Cantillon Richard

    Cantillon's economic theory is really a set of economic laws much the same as gravity is a law taking place infront of our eyes each day, rather than a theory subject to debate. Read more. 3 people found this helpful. Report. CliffB. 5.0 out of 5 stars A Firsthand View Of Business / Economics in the early 1700's.

  15. ‎An Essay on Economic Theory by Richard Cantillon (ebook ...

    Here at last is the first accurate and beautiful translation of Richard Cantillon's 1755 masterpiece on economics — widely credited with being the first to describe the market process as one driven by entrepreneurship. ... An Essay On Economic Theory. 2014 Richard Cantillon's Essay on the Nature of Trade in General. 2015 Essai sur la nature ...

  16. Richard Cantillon: An Essay on Economic Theory (1730)

    Abstract. 17,500 words. Cantillon expresses the theory of supply and demand, the quantity theory, the loanable funds theory, and the specie-flow-price mechanism. He explains that inflation creates winners and losers. He states the theory of time preference.

  17. An Essay on Economic Theory (Large Print Edition)

    LARGE PRINT EDITION! More at LargePrintLiberty.com At last, and finally, here is the first accurate and beautiful translation of Richard Cantillon's 1755 masterpiece on economics. This treatise is widely credited with being the first to describe the market process as one driven by entrepreneurship. William Stanley Jevons, in the first blush of discovery, proclaimed Cantillon's Essai, "the ...

  18. An Essay on Economic Theory by Richard Cantillon

    Here at last is the first accurate and beautiful translation of Richard Cantillon's 1755 masterpiece on economics — widely credited with being the first to d...

  19. Richard Cantillon

    Richard Cantillon (French: [kɑ̃tijɔ̃]; 1680s - May 1734) was an Irish-French economist and author of Essai Sur La Nature Du Commerce En Général (Essay on the Nature of Trade in General), a book considered by William Stanley Jevons to be the "cradle of political economy". [4] Although little information exists on Cantillon's life, it is known that he became a successful banker and ...

  20. An Essay on Economic Theory: An English Translation of Richard Cantillon's

    An Essay on Economic Theory: An English Translation of Richard Cantillon's Essai sur la nature du commerce en général. Translated by Saucier, Chantal. Edited by Thornton, Mark. ... Richard Cantillon: Essay de la Nature du Commerce en General. Related Topics. economic. book. theory. work. review. economist. chapter.

  21. An Essay on Economic Theory Paperback

    Cantillon's economic theory is really a set of economic laws much the same as gravity is a law taking place infront of our eyes each day, rather than a theory subject to debate. Read more. Report. CliffB. 5.0 out of 5 stars A Firsthand View Of Business / Economics in the early 1700's.

  22. An Essay on Economic Theory book by Richard. Cantillon: 9781479321582

    Buy a copy of An Essay on Economic Theory book by Richard. Cantillon. LARGE PRINT EDITION! More at LargePrintLiberty.com At last, and finally, here is the first accurate and beautiful translation of Richard Cantillon's 1755 masterpiece on economics. This treatise is widely credited with being the first to describe the ...

  23. Amazon.com: Customer reviews: An Essay on Economic Theory

    An Essay on Economic Theory ... The founding father of modern economics, Richard Cantillon, was proto-Austrian, writing individualistic, micro, deductive and subjective value-based economics four decades before the Wealth of Nations. So states Murray Rothbard, in An Austrian Perspective on the History of Economic Thought. ...