Книга: Джон Мартин, Вильям Петти / John Martin, William Petty «VBM УПРАВЛЕНИЕ, ОСНОВАННОЕ НА СТОИМОСТИ / Value based management»
Производитель: "Баланс бизнес букс" 410 стр. Почему некоторые компании создают огромную прибыль для своих акционеров, а другие ее разрушают? Решением проблемы могут стать инструменты управления, основанного на стоимости, подтвердившие свою эффективность на практике. VBM (value based management) позволяет финансовым менеджерам осуществлять планирование, мониторинг и управление деятельностью компаний, обеспечивая повышение акционерной стоимости. В книге рассматриваются методы: свободного денежного потока, EVA/ MVA (экономическая добавленная стоимость/рыночная добавленная стоимость) и CFROI (денежной доходности инвестиций). Авторы описывают достоинства и недостатки каждой модели, и направляют менеджеров при выборе, внедрении и применении методов, наиболее подходящих для их организаций. Эта книга поможет современным лидерам внедрить непрерывный цикл созданиястоимости, который послужит на благо всем участвующим сторонам. Прочитать вторую главу ISBN:966-8644-75-1 Издательство: "Баланс бизнес букс" (2006) Формат: 170мм х 240мм, 272 стр.
ISBN: 966-8644-75-1 |
William Petty
Infobox_Philosopher
region = Western philosophers
era =
(Modern philosophy)
color = #B0C4DE
|thumb|200px
image_caption = William Petty
name = William Petty
birth =
death =
school_tradition =
main_interests =
influences =
influenced = Mandeville,
notable_ideas =
Sir William Petty (
He was Member of the
Life & influences
William Petty was born in
After an uneventful period in the Navy, he left to study in
In 1652, he left on a leave of absence and travelled with
Now back in England, as a Cromwellian supporter, he ran unsuccessfully for Parliament in 1659 for
The events that took him from Oxford to Ireland marked a shift from medicine and the physical sciences to the social sciences, and Petty lost all his Oxford offices. The social sciences became the area that he studied for the rest of his life. His primary interest became Ireland’s prosperity and his works describe that country and propose many remedies for its then backward condition. He helped found the Dublin Society in 1682. Returning ultimately to London in 1685, he died in 1687.
He regarded his life in bittersweet terms. He had risen from humble origins to mix with the intellectual elite and was by 35 a considerably wealthy man and leading member of the 'progressive sciences'. Nonetheless, he was insecure about his land holdings and his ambitions of obtaining important political posts remained frustrated. Perhaps he expected the astronomical rise he experienced in his early years to continue throughout his life. Contemporaries described him, nonetheless, as humorous, good-natured and rational.
He is most well known for
Economic works and theories: overview
Before discussing Petty's economic theories, it is important to point out two crucial influences in his life. The first is
Secondly, the influence of
He was indeed writing before the true development of political economy. As such, many of his claims for precision are of imperfect quality. Nonetheless, Petty wrote three main works on economics, "Treatise of Taxes and Contributions" (written in 1662), "Verbum Sapienti" (1665) and "Quantulumcunque concerning money" (1682), all refreshingly concise. These works, which received great attention in the 1690s, show his theories on major areas of what would later become economics. What follows is an analysis of his most important theories, those on fiscal contributions, national wealth, the money supply and circulation velocity, value, the interest rate, international trade and government investment.
Fiscal contributions
Fiscal contributions were of prime concern to policymakers in the 17th century, as they have remained ever since, for the wise country would not spend above its revenues. By Petty’s time, England was engaged in war with Holland, and in the first three chapters of "Treatise of Taxes and Contributions", Petty sought to establish principles of taxation and public expenditure, to which the monarch could adhere, when deciding how to raise money for the war. Petty lists six kinds of public charge, namely defence, governance, the "pastorage of men’s souls", education, the maintenance of "impotents of all sorts" and infrastructure, or "things of universal good". He then discusses general and particular causes of changes in these charges. He thinks that there is great scope for reduction of the first four public charges, and recommends increased spending on care for the elderly, sick, orphans, etc., as well as the government employment of "supernumeraries".
On the issue of raising taxes, Petty was a definite proponent of
National income accounting
In making the above estimate, Petty introduces in the first two chapters of "Verbum Sapienti" the first rigorous assessments of national income and wealth. To him, it was all too obvious that a country’s wealth lay in more than just gold and silver. He worked off an estimation that the average personal income was £6 13s 4d per annum, with a population of six million, meaning that national income would be £40m. Petty produces estimates, some more reliable than others, for the various components of national income, including land, ships, personal estates and housing. He then distinguishes between the stocks (£250m) and the flows yielding from them (£15m). The discrepancy between these flows and his estimate for national income (£40m) leads Petty to postulate that the other £25m is the yield from what must be £417m of labour stock, the "value of the people". This gives a total wealth for England in the 1660s of £667m.
tatistician
Petty's only statistical technique is the use of simple averages. He would not be a statistician by today's standards but during his time a statistician was merely one that employed the use of quantitative data. Because obtaining census data was difficult, if not impossible, especially for Ireland, he applied methods of estimation. The way in which he would estimate the population would be to start with estimating the population of London. He would do this by either estimating it by exports or by deaths. His method of using exports is by considering that a 30 percent increase in exports corresponds to a similar proportionate increase in population. The way he would use deaths would be by multiplying the number of deaths by 30 - estimating that one out of thirty people die each year. To obtain the population of all of England he would multiply the population of London by 8. Such a simple use of estimation could have easily have been abused and Petty was accused more than once of doctoring the figures for the Crown. (Henry Spiegel)
Money supply & the velocity of its circulation
This figure for the stock of wealth was contrasted with a money supply in gold and sliver of only £6m. Petty believed that there was a certain amount of money that a nation needed to drive its trade. Hence it was possible to have too little money circulating in an economy, which would mean that people would have to rely on barter. It would also be possible for there to be too much money in an economy. But the topical question was, as he asks in chapter 3 of "Verbum Sapienti", would £6m be enough to drive a nation’s trade, especially if the King wanted to raise additional funds for the war with Holland?
The answer for Petty lay in the velocity of money’s circulation. Anticipating the quantity theory of money often said to be initiated by
Nor were it hard to substitute in the place of Money [gold and silver] (were a comptency of it wanting) what should be equivalent unto it. For Money is but the Fat of the Body-Politick, whereof too much doth often hinder its agility, as too little makes it sick... so doth Money in the State quicken its Action, feeds from abroad in the time of Dearth at home.' (Hull 1899: p.113)What is striking about these passages is his intellectual rigour, which put him far ahead of the mercantilist writers of earlier in the century. It is also interesting to note the use of biological analogies to illustrate his point, a trend continued by the
Theory of value
On value, Petty continued the debate begun by
The interest rate
The natural rate of rent is related to his theories on
"Laissez-faire" governance
This is one of the major themes of Petty’s writings, summed up by his use of the phrase "vadere sicut vult", whence we get "
Foreign exchange & control of trade
On the efflux of specie, Petty thought it vain to try and control it, and dangerous, as it would leave the merchants to decide what goods a nation buys with the smaller amount of money. He noted in "Quantulumcunque concerning money" that countries plentiful in gold have no such laws restricting specie. On exports in general, he regarded prescriptions, such as recent Acts of Parliament forbidding the export of wool and yarn, as 'burthensome'. Further restrictions 'would do us twice as much harm as the losse of our said Trade' (p. 59), albeit with a concession that he is no expert in the study of the wool trade.
On prohibiting imports, for example from Holland, such restrictions did little other than drive up prices, and were only useful if imports vastly exceeded exports. Petty saw far more use in going to Holland and learning whatever skills they have than trying to resist nature. Epitomising his viewpoint, he thought it preferable to sell cloth for 'debauching' foreign wines, rather than leave the clothiers unemployed.
Full employment
The goal of full employment was of most importance to Petty, having recognised that labour was one of the major sources of wealth for individuals and 'the greatest Wealth and Strength of the Kingdom'. In this vein, he extended the cloth-wine argument above, arguing that it is better to employ men and burn their product or to engage in extravagant public works projects, than to have indolent 'supernumeraries' in an economy - hence his famous example of relocating
Division of labour
Petty made a practical study of the
Petty also applied the principle to his survey of Ireland. His breakthrough was to divide up the work so that large parts of it could be done by people with no extensive training.
Urban society
Petty projected the growth of the city of London and supposed that it might swallow the rest of England--not so far from what actually happened:
Now, if the city double its people in 40 years, and the present number be 670,000, and if the whole territory be 7,400,000, and double in 360 years, as aforesaid, then by the underwritten table it appears that A.D. 1840 the people of the city will be 10,718,880, and those of the whole country but 10,917,389, which is but inconsiderably more. Wherefore it is certain and necessary that the growth of the city must stop before the said year 1840, and will be at its utmost height in the next preceding period, A.D. 1800, when the number of the city will be eight times its present number, 5,359,000. And when (besides the said number) there will be 4,466,000 to perform the tillage, pasturage, and other rural works necessary to be done without the said city". (OF THE GROWTH OF THE CITY OF LONDON - among the essays downloadable at the Gutenberg link.)
He imagined a future in which "the city of London is seven times bigger than now, and that the inhabitants of it are 4,690,000 people, and that in all the other cities, ports, towns, and villages, there are but 2,710,000 more." He expected this some time round 1800, extrapolating existing trends. Long before Malthus, he noticed the potential of human population to increase. But he also saw no reason why such a society should not be prosperous.
ummary & legacy
The above shows the contribution Petty made to theoretical issues that have dominated the later subject of economics ever since. He covered such a wide range of topics according to his political arithmetic method, i.e. like modern economists, he set out to prove his claims by finding data and statistics, rather than relying on anecdotal evidence. He wrote rigorously, but also with concision and humour. The issues that Petty thought about and wrote are major topics that have plagued the minds of economic theorists ever since.
He influenced not only immediate successors such as
Smith says nothing about Petty in "
Petty continued to exercise influence. Karl Marx believed, as did Petty, that the total effort put in by the aggregate of ordinary workers represented a far greater contribution to the economy than contemporary thought recognised. This belief led Petty to conclude in his estimates that labour ranked as the greatest source of wealth in the kingdom. Marx’s conclusions were that
Publications
* "A Treatise of Taxes and Contributions" (1662)
* "Political Arithmetic" posthum. (approx. 1676, pub. 1690)
* "Verbum Sapienti" posthum. (1664, pub. 1691)
* "Political Anatomy of Ireland" posthum. (1672, pub. 1691)
* "Quantulumcunque Concerning Money" posthum. (1682, pub. 1695)
External links
Some of Petty's works are available on the Archive for the History of Economic Thought website
* [http://socserv2.socsci.mcmaster.ca/~econ/ugcm/3ll3/petty/index.html William Petty]
*
For information on his family.
* [http://www.bowood-house.co.uk/pdf/LansdowneFamilyTree.pdf Petty FitzMaurice (Lansdowne) family tree]
The National Portrait Gallery has five portraits of Sir William Petty
* [http://www.npg.org.uk/live/search/ Search the collection]
A criticism of William Petty's defense of religious intolerance
* [http://www.punkerslut.com/critiques/petty/treatise.html Critique of "A Treatise of Taxes & Contributions"]
* [http://www.kenmare.com/history/ Kenmare Journal - A Bridge to the Past.]
Bibliography
* Aspromourgos, Tony (1988) "The life of William Petty in relation to his economics" in "History of Political Economy 20": 337-356.
* Heckscher, Eli (1935) "Mercantilism". London: Allen & Unwin.
* Hull, Charles H. (ed.) (1899) "The Economic Writings of Sir William Petty". London: Routledge/Thoemmes.
* Hutchison, Terence (1988). "Petty on Policy, Theory and Method," in "Before Adam Smith: the Emergence of Political Economy 1662-1776". Basil Blackwell.
* Letwin, W. (1963) "The Origins of Economic Science". Methuen.
* Routh, Guy (1989) "The Origin of Economic Ideas". London: Macmillan.
* Schumpeter, Joseph A. (1954) "A History of Economic Analysis". London: Allen & Unwin.
Источник: William Petty
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