Petty

Petty

[pet-ee]
Petty, Richard, 1937-, American auto racing driver, b. Level Cross, N.C. The son of Lee Petty, a champion stock car race driver, he won a record 200 National Association for Stock Car Auto Racing (NASCAR) races, among them a record seven Daytona 500s, in his 35-year career (1958-92). He was also the career leader in starts and money earned. "King Richard" won the Winston Cup (now the Sprint Cup), emblematic of stock car racing supremacy, seven times (1964, 1967, 1971-72, 1974-75, 1979), a record later equaled by Dale Earnhardt.
Petty, Sir William, 1623-87, English statistician and physician. He was a founder of the Royal Society and was physician general to the army of Ireland in 1652. Petty's survey of the Irish estates appropriated by Oliver Cromwell, begun in 1654 and carried out in 13 months, was the first attempt at scientific surveying on a large scale. He won favor with Charles II, was knighted (1662), and became surveyor general of Ireland. In 1673, Petty's detailed map of Ireland was completed. It is as a political economist, however, that Petty is remembered. He disapproved of the ban on bullion export, favored an Irish-British union, and contended that labor determines price. His important writings include A Treatise on Taxes and Contributions (1662) and The Political Anatomy of Ireland (1691).

See biography by E. Fitzmaurice (1895, repr. 1973).

(born May 26, 1623, Romsey, Hampshire, Eng.—died Dec. 16, 1687, London) British political economist and statistician. He gave up a life at sea to study medicine, and taught anatomy at the University of Oxford. He founded mines, ironworks, and fisheries in Ireland. He was also responsible for several inventions and was a founder of the Royal Society. Petty was an originator of political arithmetic, which he defined as the art of reasoning by figures upon things relating to government. In his best-known work, Treatise of Taxes and Contributions (1662), he favoured giving free rein to the forces of individual self-interest but declared the maintenance of a high level of employment to be a duty of the state. He also argued that the labour necessary for production was the main determinant of exchange value.

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(born July 2, 1937, Level Cross, N.C., U.S.) U.S. stock-car racer. He entered professional stock-car racing in 1958. In his long professional career he won 200 races. In 1975 he set the NASCAR record of 13 victories in one season. “King Richard” also won seven Daytona 500 races and seven NASCAR Grand National championships. His father, son, and grandson were all NASCAR racers.

Learn more about Petty, Richard with a free trial on Britannica.com.

(born May 26, 1623, Romsey, Hampshire, Eng.—died Dec. 16, 1687, London) British political economist and statistician. He gave up a life at sea to study medicine, and taught anatomy at the University of Oxford. He founded mines, ironworks, and fisheries in Ireland. He was also responsible for several inventions and was a founder of the Royal Society. Petty was an originator of political arithmetic, which he defined as the art of reasoning by figures upon things relating to government. In his best-known work, Treatise of Taxes and Contributions (1662), he favoured giving free rein to the forces of individual self-interest but declared the maintenance of a high level of employment to be a duty of the state. He also argued that the labour necessary for production was the main determinant of exchange value.

Learn more about Petty, Sir William with a free trial on Britannica.com.

(born July 2, 1937, Level Cross, N.C., U.S.) U.S. stock-car racer. He entered professional stock-car racing in 1958. In his long professional career he won 200 races. In 1975 he set the NASCAR record of 13 victories in one season. “King Richard” also won seven Daytona 500 races and seven NASCAR Grand National championships. His father, son, and grandson were all NASCAR racers.

Learn more about Petty, Richard with a free trial on Britannica.com.

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