William Petty

William Petty (1623-1687) was an English economist, philosopher, and political scientist known for his pioneering contributions to political economy and statistics. He is often considered one of the founders of modern economics due to his work in analyzing economic systems and introducing concepts such as value and prices. Petty used empirical data to support his ideas, emphasizing the importance of governmental policy in managing economic growth. His works, particularly "Political Arithmetick," laid the groundwork for future economists by combining mathematics with social science, influencing economic thought for generations.