Life and Influences
Petty was a founder member of The Royal Society. He was born and buried in Romsey and was a contemporary and friend of Samuel Pepys.
Petty is best known for economic history and statistic writings, pre-Adam Smith. Of particular interest were Petty's forays into statistical analysis. Petty's work in political arithmetic, along with the work of John Graunt, laid the foundation for modern census techniques. Moreover, this work in statistical analysis, when further expanded by writers like Josiah Child, documented some of the first expositions of modern insurance. Vernon Louis Parrington notes him as an early expositor of the labor theory of value as discussed in Treatise of Taxes in 1692.
In 1858, Henry Petty-Fitzmaurice, 3rd Marquess of Lansdowne, one of Petty's descendants erected a memorial and likeness of Petty in Romsey Abbey. The text on it reads: "a true patriot and a sound philosopher who, by his powerful intellect, his scientific works and indefatigable industry, became a benefactor to his family and an ornament to his country". His grave slab on the floor of the south choir aisle reads HERE LAYES SIR WILLIAM PETY.
Read more about this topic: William Petty
Famous quotes containing the words life and, life and/or influences:
“As the twentieth century ends, commerce and culture are coming closer together. The distinction between life and art has been eroded by fifty years of enhanced communications, ever-improving reproduction technologies and increasing wealth.”
—Stephen Bayley (b. 1951)
“The sailor is frankness, the landsman is finesse. Life is not a game with the sailor, demanding the long head—no intricate game of chess where few moves are made in straight-forwardness and ends are attained by indirection, an oblique, tedious, barren game hardly worth that poor candle burnt out in playing it.”
—Herman Melville (1819–1891)
“Nothing changes more constantly than the past; for the past that influences our lives does not consist of what actually happened, but of what men believe happened.”
—Gerald W. Johnson (1890–1980)