On This Day: William Petty

international | miscellaneous | other press Thursday December 16, 2004 11:36 by pat c

16 December: Sir William Petty, an eminent political economist, died in 1687. He was the first to demonstrate the labour theory of value.

He was also well known for his Latin poetry. His map of Ireland was 'believed to be the most exact that ever yet was made of any country', according to John Evelyn. What is less celebrated is a duel he fought in 1645 with Sir Hierome Sankey. Petty, who was unenthusiastic about the duel, had the choice of venue and weapon. He chose a pitch-black cellar and massive carpenters' axes, which neither of them could even lift, and the duel collapsed into farce.