George Whatley
Encyclopedia
George Whatley, Esq, was a contemporary, friend and correspondent of Benjamin Franklin
. He was also Vice-President (1772–1779) and Treasurer (1779–1791) of the Foundling Hospital
in London
.
Whatley was the author of Principles of Trade, published in 1774, which expounded the benefits of laissez faire economics, also known as free trade
. Some sources claim Franklin co-authored the book with Whatley, while Franklin gives full credit to Whatley. However, according to historian Jared Sparks
in his book The works of Benjamin Franklin, 1840, Sparks gives Franklin credit for the notes which are in the view of noted economist Jacob Viner
, superior to the text, see footnote 97 for chapter 2, Studies in the Theory of International Trade,.
Whatley's portrait by an unknown painter is part of the Foundling Hospital art collection and can today be seen in the Picture Gallery at the Foundling Museum
.
Benjamin Franklin
Dr. Benjamin Franklin was one of the Founding Fathers of the United States. A noted polymath, Franklin was a leading author, printer, political theorist, politician, postmaster, scientist, musician, inventor, satirist, civic activist, statesman, and diplomat...
. He was also Vice-President (1772–1779) and Treasurer (1779–1791) of the Foundling Hospital
Foundling Hospital
The Foundling Hospital in London, England was founded in 1741 by the philanthropic sea captain Thomas Coram. It was a children's home established for the "education and maintenance of exposed and deserted young children." The word "hospital" was used in a more general sense than it is today, simply...
in London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
.
Whatley was the author of Principles of Trade, published in 1774, which expounded the benefits of laissez faire economics, also known as free trade
Free trade
Under a free trade policy, prices emerge from supply and demand, and are the sole determinant of resource allocation. 'Free' trade differs from other forms of trade policy where the allocation of goods and services among trading countries are determined by price strategies that may differ from...
. Some sources claim Franklin co-authored the book with Whatley, while Franklin gives full credit to Whatley. However, according to historian Jared Sparks
Jared Sparks
Jared Sparks was an American historian, educator, and Unitarian minister. He served as President of Harvard University from 1849 to 1853.-Biography:...
in his book The works of Benjamin Franklin, 1840, Sparks gives Franklin credit for the notes which are in the view of noted economist Jacob Viner
Jacob Viner
Jacob Viner was a Canadian economist and is considered with Frank Knight and Henry Simons one of the "inspiring" mentors of the early Chicago School of Economics in the 1930s: he was one of the leading figures of the Chicago faculty.- Biography :Viner was born in 1892 in Montreal, Quebec to...
, superior to the text, see footnote 97 for chapter 2, Studies in the Theory of International Trade,.
Whatley's portrait by an unknown painter is part of the Foundling Hospital art collection and can today be seen in the Picture Gallery at the Foundling Museum
Foundling Museum
The Foundling Museum in London tells the story of the Foundling Hospital, Britain's first home for abandoned children. The museum houses the nationally important Foundling Hospital Art Collection as well as the Gerald Coke Handel Collection, the world's greatest privately amassed collection of...
.