Resources of the United Kingdom (Reprints of economic classics)

Noteworthy for its prevision of modern Keynesian analysis and concern with chronic unemployment, Pettman's treatise argued that national income and expenditures are identical from one period to the next, unless there is net dissaving or saving. He foresaw a way to tie increased net indebtedness to the expansion of national expenditure through an increased public debt, an increased use of credit by the public sector and increased indebtedness to foreign capital." Though lacking in analytical refinement ... a comprehensive anticipation of modern national income equilibrium analysis." B.J. Gordon Non-Ricardian Political Economy.