Richard Cantillon

Richard Cantillon was an 18th-century economist and businessman, recognized as a pioneer in economic theory. He emphasized the role of entrepreneurs in the economy, arguing they bring change and innovation by taking risks. Cantillon's key idea was that the economy operates in a dynamic way, influenced by supply and demand, with prices determined by how much people are willing to pay. His influential work, "Essai sur la Nature du Commerce en Général," laid foundational concepts for later economists, particularly regarding the importance of market forces and the function of money in trade and investment.