Economic philosophy Josiah Child

funerary monument of sir josiah child(d.1699) in st mary virgin church, wanstead.

child contributed literature of economics; brief observations concerning trade , interest of money (1668), , new discourse of trade (1668 , 1690). moderate in days of mercantile system, , has been regarded sort of pioneer in development of free-trade doctrines of 18th century. though child considered himself proponent of competitive market, simultaneously argued government-controlled interest rate , restricted trade among colonies benefit england. made various proposals improving english trade following dutch example, , advocated low rate of interest causa causans of other causes of riches of dutch people. low rate of interest thought should created , maintained public authority. child, whilst adhering doctrine of balance of trade, observed people cannot sell foreigners without ever buying them, , denied export of precious metals detrimental. other writers in commonly called mercantilist period or tradition, viewed numerous population asset country , became prominent new scheme relief , employment of poor. advocated reservation mother country of sole right of trade colonies.

in sir josiah child, merchant economist (1959), william letwin considers child s economic thought of little theoretical importance notes widely-read of seventeenth-century economic writers .