William Petty's Model and the Analysis of Socio-Economic Phenomena.

The article presents information relating to sociology with focus on an analysis of the work of William Petty and his followers, and the socio-economic phenomena. The statistical tradition in the field of analysis of socio-economic phenomena has its origins in the work of Petty and his followers of 300 or so years ago. These scholars sought to provide a broad-based and congruous framework aimed at analyzing such phenomena in their entirety. Petty, who introduced Political Arithmetic, and his followers, attempted to define not only the most important variables in the macroeconomic framework, but also to create a valid perspective for interpreting population growth and employment levels in a systematic and orderly way, and thereby interpret the distribution of professions throughout the population and the mechanisms for containing unemployment. To this end, they created a comprehensive "theory regarding the forces of production of' income." As a result, the methodological process for the analysis of socio-economic phenomena favored by both classical authors and marginalists was not that inspired by Petty, and his theory was accordingly shelved.