Basil Yamey
Encyclopedia
Basil S. Yamey, CBE
(born 5 May 1919) is a South African economist. He was born in Cape Town
in South Africa
, and educated at the University of Cape Town
. For many years he was a Professor at the London School of Economics
. He was a part-time member of the Monopolies and Mergers Commission
from 1966 to 1978, and author of many books and articles, including one on the economics of under-developed countries co-authored with Peter Thomas Bauer
.
Yamey's interest in rational economic decision-making led him to study historical accounting records. Yamey rejected the claim by Werner Sombart
that the double-entry bookkeeping system
was a pre-condition, or at least an important stimulating factor, for the emergence of modern capitalism
. Yamey combined his interest in accounting history with his love of art (he was a trustee of the National Gallery, London
from 1974 to 1981 and of the Tate Gallery
, London from 1978 to 1981) in his book Art & Accounting, a richly-illustrated survey of paintings portraying commercial scenes and business-people.
Order of the British Empire
The Most Excellent Order of the British Empire is an order of chivalry established on 4 June 1917 by George V of the United Kingdom. The Order comprises five classes in civil and military divisions...
(born 5 May 1919) is a South African economist. He was born in Cape Town
Cape Town
Cape Town is the second-most populous city in South Africa, and the provincial capital and primate city of the Western Cape. As the seat of the National Parliament, it is also the legislative capital of the country. It forms part of the City of Cape Town metropolitan municipality...
in South Africa
South Africa
The Republic of South Africa is a country in southern Africa. Located at the southern tip of Africa, it is divided into nine provinces, with of coastline on the Atlantic and Indian oceans...
, and educated at the University of Cape Town
University of Cape Town
The University of Cape Town is a public research university located in Cape Town in the Western Cape province of South Africa. UCT was founded in 1829 as the South African College, and is the oldest university in South Africa and the second oldest extant university in Africa.-History:The roots of...
. For many years he was a Professor at the London School of Economics
London School of Economics
The London School of Economics and Political Science is a public research university specialised in the social sciences located in London, United Kingdom, and a constituent college of the federal University of London...
. He was a part-time member of the Monopolies and Mergers Commission
Competition Commission
The Competition Commission is a non-departmental public body responsible for investigating mergers, markets and other enquiries related to regulated industries under competition law in the United Kingdom...
from 1966 to 1978, and author of many books and articles, including one on the economics of under-developed countries co-authored with Peter Thomas Bauer
Peter Thomas Bauer
Peter Thomas Bauer, Baron Bauer was a developmental economist. Bauer is best remembered for his opposition to the widely-held notion that the most effective manner to help developing countries advance is through state-controlled foreign aid.- Life :Bauer was born as Péter Tamás Bauer in Budapest,...
.
Yamey's interest in rational economic decision-making led him to study historical accounting records. Yamey rejected the claim by Werner Sombart
Werner Sombart
Werner Sombart was a German economist and sociologist, the head of the “Youngest Historical School” and one of the leading Continental European social scientists during the first quarter of the 20th century....
that the double-entry bookkeeping system
Double-entry bookkeeping system
A double-entry bookkeeping system is a set of rules for recording financial information in a financial accounting system in which every transaction or event changes at least two different nominal ledger accounts....
was a pre-condition, or at least an important stimulating factor, for the emergence of modern capitalism
Capitalism
Capitalism is an economic system that became dominant in the Western world following the demise of feudalism. There is no consensus on the precise definition nor on how the term should be used as a historical category...
. Yamey combined his interest in accounting history with his love of art (he was a trustee of the National Gallery, London
National Gallery, London
The National Gallery is an art museum on Trafalgar Square, London, United Kingdom. Founded in 1824, it houses a collection of over 2,300 paintings dating from the mid-13th century to 1900. The gallery is an exempt charity, and a non-departmental public body of the Department for Culture, Media...
from 1974 to 1981 and of the Tate Gallery
Tate Gallery
The Tate is an institution that houses the United Kingdom's national collection of British Art, and International Modern and Contemporary Art...
, London from 1978 to 1981) in his book Art & Accounting, a richly-illustrated survey of paintings portraying commercial scenes and business-people.