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Johan de Witt (; 24 September 1625 – 20 August 1672), ''
lord Lord is an appellation for a person or deity who has authority, control, or power (social and political), power over others, acting as a master, chief, or ruler. The appellation can also denote certain persons who hold a title of the Peerage ...
of Zuid- en Noord-Linschoten, Snelrewaard, Hekendorp en IJsselvere'', was a Dutch statesman and a major political figure in the
Dutch Republic The United Provinces of the Netherlands, also known as the (Seven) United Provinces, officially as the Republic of the Seven United Netherlands ( Dutch: ''Republiek der Zeven Verenigde Nederlanden''), and commonly referred to in historiograph ...
in the mid-17th century, the First Stadtholderless Period, when its flourishing sea trade in a period of globalization made the republic a leading European trading and seafaring power – now commonly referred to as the
Dutch Golden Age The Dutch Golden Age ( nl, Gouden Eeuw ) was a period in the history of the Netherlands, roughly spanning the era from 1588 (the birth of the Dutch Republic) to 1672 (the Rampjaar, "Disaster Year"), in which Dutch trade, science, and art and ...
. De Witt controlled the Dutch political system from around 1650 until shortly before his murder and cannibalisation by a pro-Orangist mob in 1672. As a leading republican of the
Dutch States Party The Dutch States Party ( nl, Staatsgezinde partij) was a political faction of the United Provinces of the Netherlands. This republican faction is usually (negatively) defined as the opponents of the Orangist, or faction, who supported the mona ...
, de Witt opposed the
House of Orange-Nassau The House of Orange-Nassau ( Dutch: ''Huis van Oranje-Nassau'', ) is the current reigning house of the Netherlands. A branch of the European House of Nassau, the house has played a central role in the politics and government of the Netherland ...
and the Orangists and preferred a shift of power from the
central government A central government is the government that is a controlling power over a unitary state. Another distinct but sovereign political entity is a federal government, which may have distinct powers at various levels of government, authorized or del ...
to the
regenten In the 16th, 17th and 18th centuries, the regenten (the Dutch plural for ''regent'') were the rulers of the Dutch Republic, the leaders of the Dutch cities or the heads of organisations (e.g. "regent of an orphanage"). Though not formally a hered ...
. However, his neglect of the Dutch army (as the regents focused only on merchant vessels, thinking they could avoid war) proved disastrous when the Dutch Republic suffered numerous early defeats in the '' Rampjaar'' (1672). In the hysteria that followed the effortless invasion by an alliance of
England England is a country that is part of the United Kingdom. It shares land borders with Wales to its west and Scotland to its north. The Irish Sea lies northwest and the Celtic Sea to the southwest. It is separated from continental Europe ...
,
France France (), officially the French Republic ( ), is a country primarily located in Western Europe. It also comprises of Overseas France, overseas regions and territories in the Americas and the Atlantic Ocean, Atlantic, Pacific Ocean, Pac ...
and some German states he and his brother
Cornelis de Witt Cornelis de Witt (; 15 June 1623 – 20 August 1672) was a Dutch politician and naval commendant of the Golden Age. During the First Stadtholderless Period De Witt was an influential member of the Dutch States Party, and was in opposition to t ...
were blamed and lynched in The Hague, with their corpses at least partially eaten by the rioters. These cannibals were never prosecuted, and some historians claim William of Orange may have incited them.


Early life

Johan de Witt was a member of the old Dutch patrician family De Witt. His father was
Jacob de Witt Jacob de Witt, '' heer van Manezee, Melissant and Comstryen''http://www.herenvanholland.nl/eigenaar.cfm?eigenaarnummer=1701 www.herenvanholland.nl (7 February 1589 – 10 January 1674) was a burgomaster of Dordrecht and the son of a timber merc ...
, an influential
regent A regent (from Latin : ruling, governing) is a person appointed to govern a state '' pro tempore'' (Latin: 'for the time being') because the monarch is a minor, absent, incapacitated or unable to discharge the powers and duties of the monarchy ...
and burgher from the patrician class in the city of
Dordrecht Dordrecht (), historically known in English as Dordt (still colloquially used in Dutch, ) or Dort, is a city and municipality in the Western Netherlands, located in the province of South Holland. It is the province's fifth-largest city after ...
, which in the seventeenth century was one of the most important cities of the dominating province of Holland. De Witt's mother was Anna van den Corput (1599–1645), niece of Johannes Corputius, an influential Dutch military leader and cartographer. He had an older brother,
Cornelis de Witt Cornelis de Witt (; 15 June 1623 – 20 August 1672) was a Dutch politician and naval commendant of the Golden Age. During the First Stadtholderless Period De Witt was an influential member of the Dutch States Party, and was in opposition to t ...
, who had a steep career in the shadow of Johan de Witt. His uncle Andries de Witt held the position of Grand Pensionary of Holland between 1619 and 1621. Through the marriage of one of his other uncles to Margaretha of Nassau, daughter of Anna Johanna of Nassau-Siegen, De Witt was a distant relative of the later Dutch governor and English King William III of Orange-Nassau. Another relationship connected him to the Tromps, Maarten and his son
Cornelis Tromp Cornelis Maartenszoon Tromp, ''Count of Sølvesborg'' (3 September 1629 – 29 May 1691) was a Dutch naval officer who served as lieutenant-admiral general in the Dutch Navy, and briefly as a general admiral in the Royal Danish Navy. Trom ...
, both admirals of the Netherlands. Johan and his older brother Cornelis grew up in a privileged environment in terms of education, his father having as good acquaintances important scholars and scientists, such as Isaac Beeckman,
Jacob Cats Jacob Cats (10 November 1577 – 12 September 1660) was a Dutch poet, humorist, jurist and politician. He is most famous for his emblem books. Early years Jacob Cats was born on 10 November 1577 in Brouwershaven as son of Adriaen Cornelis ...
, Gerardus Vossius, and Andreas Colvius. Johan and Cornelis both attended the Latin school in Dordrecht, which imbued them with the values of the Roman Republic. After attending the Latin school in Dordrecht, Johan de Witt studied at the
Leiden University Leiden University (abbreviated as ''LEI''; nl, Universiteit Leiden) is a public research university in Leiden, Netherlands. The university was founded as a Protestant university in 1575 by William, Prince of Orange, as a reward to the city o ...
, where he excelled at
mathematics Mathematics is an area of knowledge that includes the topics of numbers, formulas and related structures, shapes and the spaces in which they are contained, and quantities and their changes. These topics are represented in modern mathematics ...
and
law Law is a set of rules that are created and are enforceable by social or governmental institutions to regulate behavior,Robertson, ''Crimes against humanity'', 90. with its precise definition a matter of longstanding debate. It has been vario ...
. He received his
doctorate A doctorate (from Latin ''docere'', "to teach"), doctor's degree (from Latin ''doctor'', "teacher"), or doctoral degree is an academic degree awarded by universities and some other educational institutions, derived from the ancient formalism ''l ...
from the University of Angers in 1645. He practiced law in
The Hague The Hague ( ; nl, Den Haag or ) is a city and municipality of the Netherlands, situated on the west coast facing the North Sea. The Hague is the country's administrative centre and its seat of government, and while the official capital o ...
as an associate with the firm of Frans van Schooten. In 1650 (the year that
stadtholder In the Low Countries, ''stadtholder'' ( nl, stadhouder ) was an office of steward, designated a medieval official and then a national leader. The ''stadtholder'' was the replacement of the duke or count of a province during the Burgundian and H ...
William II, Prince of Orange William II (27 May 1626 – 6 November 1650) was sovereign Prince of Orange and Stadtholder of Holland, Zeeland, Utrecht, Guelders, Overijssel and Groningen in the United Provinces of the Netherlands from 14 March 1647 until his death three year ...
died) he was appointed leader of the deputation of
Dordrecht Dordrecht (), historically known in English as Dordt (still colloquially used in Dutch, ) or Dort, is a city and municipality in the Western Netherlands, located in the province of South Holland. It is the province's fifth-largest city after ...
to the States of Holland and West Friesland. In December 1650, De Witt became the pensionary of Dordrecht. In 1652, at the age of 27, De Witt was faced with a mob of angry demonstrators of sailors and fishermen in the city of
Vlissingen Vlissingen (; zea, label=Zeelandic, Vlissienge), historically known in English as Flushing, is a Municipalities of the Netherlands, municipality and a city in the southwestern Netherlands on the former island of Walcheren. With its strategic l ...
.


Marriage and children

In 1655 Johan de Witt married Wendela Bicker, daughter of Johan Bicker and
Agneta de Graeff van Polsbroek Agneta de Graeff van Polsbroek ( Amsterdam, 10 November 1603 – 3 or 4 March 1656), was a patrician woman from the Dutch Golden Age. She became known as the mother-in-law of Johan de Witt. Biography Agneta was born as the oldest daughter o ...
, who belonged to the inner circle of the powerful Amsterdam
oligarchy Oligarchy (; ) is a conceptual form of power structure in which power rests with a small number of people. These people may or may not be distinguished by one or several characteristics, such as nobility, fame, wealth, education, or corporate ...
. Through his marriage De Witt became a relative of the ruling patrician families Bicker,
De Graeff De Graeff (; also: '' De Graef, Graef, Graeff, Graaff'', Graaf and ''De Graeff van Polsbroek'') is an old Dutch patrician and noble family, The Amsterdam line of the family played an important role during the Dutch Golden Age. They were at the ...
, Hooft, Witsen, Boelens Loen, and Reynst among others. The famous Frans Banning Cocq became his uncle-in-law and Joachim Irgens von Westervick his cousin-in-law as well. Johan and Wendela had four children, three daughters and one son: # Anna de Witt (1655–1725), married to Herman van den Honert # Agnes de Witt (1658–1688), married to Simon Teresteyn van Halewijn # Maria de Witt (1660–1689), married to Willem Hooft # Johan de Witt Jr. (1662–1701), secretary of the city of
Dordrecht Dordrecht (), historically known in English as Dordt (still colloquially used in Dutch, ) or Dort, is a city and municipality in the Western Netherlands, located in the province of South Holland. It is the province's fifth-largest city after ...
; married to Wilhelmina de Witt, the daughter of his uncle
Cornelis de Witt Cornelis de Witt (; 15 June 1623 – 20 August 1672) was a Dutch politician and naval commendant of the Golden Age. During the First Stadtholderless Period De Witt was an influential member of the Dutch States Party, and was in opposition to t ...
After De Witt's death, his brother-in-law
Pieter de Graeff Pieter de Graeff (15 August 1638 – 3 June 1707), was a member of the De Graeff-family from the Dutch Golden Age. He was an Amsterdam Regent during the late 1660s and the early 1670s, and held the titles as Lord of the semi-sovereign Fief Zuid ...
became the guardian of his children.


Politics


Grand Pensionary

In 1653, the
States of Holland The States of Holland and West Frisia ( nl, Staten van Holland en West-Friesland) were the representation of the two Estates (''standen'') to the court of the Count of Holland. After the United Provinces were formed — and there no longer was a c ...
elected De Witt councilor pensionary. In making the appointment, De Witt relied on the express consent of Amsterdam, headed by his later uncle
Cornelis de Graeff Cornelis de Graeff, also Cornelis de Graeff van (Zuid-)Polsbroek (15 October 1599 – 4 May 1664) was the most illustrious member of the De Graeff family. He was a mayor of Amsterdam from the Dutch Golden Age and a powerful Amsterdam regent after ...
. Since Holland was the Republic's most powerful province, he was effectively the political leader of the United Provinces as a whole—especially during periods when no
stadholder In the Low Countries, ''stadtholder'' ( nl, stadhouder ) was an office of steward, designated a medieval official and then a national leader. The ''stadtholder'' was the replacement of the duke or count of a province during the Burgundian and ...
had been elected by the States of most Provinces. The ''raadpensionaris'' of Holland was often referred to as the Grand Pensionary by foreigners as he represented the preponderant province in the Union of the
Dutch Republic The United Provinces of the Netherlands, also known as the (Seven) United Provinces, officially as the Republic of the Seven United Netherlands ( Dutch: ''Republiek der Zeven Verenigde Nederlanden''), and commonly referred to in historiograph ...
. He was a servant who led the States of province by his experience, tenure, familiarity with the issues, and use of the staff at his disposal. He was in no manner equivalent to a modern Prime Minister. Representing the province of Holland, De Witt tended to identify with the economic interests of the shipping and trading interests in the United Provinces. These interests were largely concentrated in the province of Holland, and to a lesser degree in the province of Zeeland.


Act of seclusion

De Witt's power base was the wealthy merchant and patrician class into which he was born. This class broadly coincided politically with the "States faction", stressing Protestant religious moderation and pragmatic foreign policy defending commercial interests. The "Orange faction", consisting of the middle class, preferred a strong leader from the Dutch
House of Orange The House of Orange-Nassau (Dutch: ''Huis van Oranje-Nassau'', ) is the current reigning house of the Netherlands. A branch of the European House of Nassau, the house has played a central role in the politics and government of the Netherlands ...
as a counterweight against the rich upper-classes in economic and religious matters. Although leaders that did emerge from the House of Orange rarely were strict
Calvinists Calvinism (also called the Reformed Tradition, Reformed Protestantism, Reformed Christianity, or simply Reformed) is a major branch of Protestantism that follows the theological tradition and forms of Christian practice set down by John ...
themselves, they tended to identify with Calvinism, which was popular among the middle classes in the United Provinces during this time.
William II of Orange William II (27 May 1626 – 6 November 1650) was sovereign Prince of Orange and Stadtholder of Holland, Zeeland, Utrecht, Guelders, Overijssel and Groningen in the United Provinces of the Netherlands from 14 March 1647 until his death three ...
was a prime example of this tendency among the leaders of the House of Orange to support Calvinism. William II was elected Stadholder in 1647, and continued to serve until his death in November 1650. Eight days after his death, William II's wife delivered a male heir—
William III of Orange William III (William Henry; ; 4 November 16508 March 1702), also widely known as William of Orange, was the sovereign Prince of Orange from birth, Stadtholder of Holland, Zeeland, Utrecht, Guelders, and Overijssel in the Dutch Republic from ...
. Many citizens of the United Provinces urged the election of the infant William III as stadholder under a regency until he came of age. However, the Provinces, under the dominance of the province of Holland Together with his uncle Cornelis de Graeff De Witt brought about peace with England after the First Anglo-Dutch War with the Treaty of Westminster in May 1654. In 1657, De Witt and De Graeff mediated the " Treaty of Raalte", in which William III passed the stadholdership of
Overijssel Overijssel (, ; nds, Oaveriessel ; german: Oberyssel) is a province of the Netherlands located in the eastern part of the country. The province's name translates to "across the IJssel", from the perspective of the Episcopal principality of U ...
.Rowen, Herbert.
John de Witt, Grand Pensionary of Holland, 1625-1672
', pp. 363-378 (Princeton University Press, 2015).
On 25 September 1660, the
States of Holland The States of Holland and West Frisia ( nl, Staten van Holland en West-Friesland) were the representation of the two Estates (''standen'') to the court of the Count of Holland. After the United Provinces were formed — and there no longer was a c ...
under the prime movers of De Witt, De Graeff, his younger brother
Andries de Graeff Andries de Graeff (19 February 1611 – 30 November 1678) was a powerful member of the Amsterdam branch of the De Graeff - family during the Dutch Golden Age. He became a mayor of Amsterdam and a powerful Amsterdam regent after the death of his ...
, along with Gillis Valckenier, resolved to take charge of William's education to ensure he would acquire the skills to serve in a future — although undetermined — state function. Influenced by the values of the Roman republic, de Witt did his utmost anyway to prevent any member of the
House of Orange The House of Orange-Nassau (Dutch: ''Huis van Oranje-Nassau'', ) is the current reigning house of the Netherlands. A branch of the European House of Nassau, the house has played a central role in the politics and government of the Netherlands ...
from gaining power, convincing many provinces to abolish the stadtholderate entirely. He bolstered his policy by publicly endorsing the theory of
republicanism Republicanism is a political ideology centered on citizenship in a state organized as a republic. Historically, it emphasises the idea of self-rule and ranges from the rule of a representative minority or oligarchy to popular sovereignty. ...
. He allegedly contributed personally to the ''Interest of Holland'', a radical republican textbook published in 1662, by his supporter
Pieter de la Court Pieter de la Court (1618 – May 28, 1685) was a Dutch economist and businessman, he is the origin of the successful De la Court family. He pioneered modern thinking about the economic importance of free competition and was an uncompromising ...
. In the period following the Treaty of Westminster, the Republic grew in wealth and influence under De Witt's leadership. He created a strong navy, appointing one of his political allies, Lieutenant Admiral Jacob van Wassenaer Obdam, as supreme commander of the confederate fleet.


Disaster year and De Witt's Death

During 1672, which the Dutch refer to as the disaster year, France and England attacked the Republic in the
Franco-Dutch War The Franco-Dutch War, also known as the Dutch War (french: Guerre de Hollande; nl, Hollandse Oorlog), was fought between France and the Dutch Republic, supported by its allies the Holy Roman Empire, Spain, Brandenburg-Prussia and Denmark-Nor ...
. De Witt was severely wounded by a knife-wielding assassin on 21 June. He resigned as Grand Pensionary on 4 August, but this was not enough for his enemies. His brother Cornelis (who was deputy-in-the-field for de Ruyter at the Raid on the Medway), particularly hated by the Orangists, was arrested on trumped-up charges of treason. He was tortured (as was usual under
Roman-Dutch law Roman-Dutch law ( Dutch: ''Rooms-Hollands recht'', Afrikaans: ''Romeins-Hollandse reg'') is an uncodified, scholarship-driven, and judge-made legal system based on Roman law as applied in the Netherlands in the 17th and 18th centuries. As such, ...
, which required a confession before a conviction was possible) but refused to confess. Nevertheless, he was sentenced to exile. When his brother went over to the jail (which was only a few steps from his house) to help him get started on his journey, both were attacked by members of The Hague's civic militia. The brothers were shot and then left to the mob. Their naked, mutilated bodies were strung up on the nearby public
gibbet A gibbet is any instrument of public execution (including guillotine, executioner's block, impalement stake, hanging gallows, or related scaffold). Gibbeting is the use of a gallows-type structure from which the dead or dying bodies of cri ...
, while the Orangist mob ate their roasted livers in a cannibalistic frenzy. Throughout it all, a remarkable discipline was maintained by the mob, according to contemporary observers, lending doubt as to the spontaneity of the event. De Witt had in effect ruled the Republic for almost 20 years. His regime outlasted him only a few more days. Though no more people were killed, the lynching of the De Witts lent renewed impetus to the mob attacks, and to help restore public order the States of Holland empowered William on 27 August to purge the city councils in any way he would see fit to restore public order. The following purges in the early days of September were accompanied by large, but peaceful, Orangist demonstrations, that had a remarkable political character. The demonstrations delivered petitions that demanded certain additional reforms with a, in a sense, "reactionary" flavour: the "ancient" privileges of the guilds and civic militias—who were traditionally seen as mouthpieces of the citizenry as a whole—to curb the regent's powers were to be recognised again (as in pre-Burgundian times). The demonstrators also demanded more influence of the Calvinist preachers on the content of government policies and a roll-back of the toleration of Catholics and other dissenting denominations. The purges of the city governments were not everywhere equally thoroughgoing (and, of course, there was little mention of popular influence later on, as the new regents shared the abhorrence of the old ones of real democratic reforms). But as a whole, the new Orangist regime of the Stadtholder was well-entrenched during his following reign. Whether William had a hand in the murder of the de Witt brothers remains unanswered, like his exact role in the later
Massacre of Glencoe The Massacre of Glencoe ( gd, Murt Ghlinne Comhann) took place in Glen Coe in the Highlands of Scotland The Highlands ( sco, the Hielands; gd, a’ Ghàidhealtachd , 'the place of the Gaels') is a historical region of Scotland. Cultur ...
. That he ordered the withdrawal of a federal cavalry detachment that otherwise might have prevented the lynching has always raised eyebrows. He did not prosecute the well-known ringleaders like Johan van Banchem,
Cornelis Tromp Cornelis Maartenszoon Tromp, ''Count of Sølvesborg'' (3 September 1629 – 29 May 1691) was a Dutch naval officer who served as lieutenant-admiral general in the Dutch Navy, and briefly as a general admiral in the Royal Danish Navy. Trom ...
, and Johan Kievit, even advancing their careers. In any case, the political turmoil did not enable the allies an opportunity to finish the Republic off. The French were effectively stymied by the water defenses. Only when the inundations froze over in the following winter was there, briefly, a chance for Marshal Luxembourg, who had taken over command of the invading army from Louis, to make an incursion with 10,000 troops on skates. This almost ended in disaster, when they were ambushed. Meanwhile, the States General managed to conclude alliances with the German emperor and
Brandenburg Brandenburg (; nds, Brannenborg; dsb, Bramborska ) is a state in the northeast of Germany bordering the states of Mecklenburg-Vorpommern, Lower Saxony, Saxony-Anhalt, and Saxony, as well as the country of Poland. With an area of 29,480 squ ...
, which helped relieve the French pressure in the East.


Mathematics

The kinematic description of
ellipse In mathematics, an ellipse is a plane curve surrounding two focal points, such that for all points on the curve, the sum of the two distances to the focal points is a constant. It generalizes a circle, which is the special type of ellipse in ...
s dates from
Archimedes Archimedes of Syracuse (;; ) was a Greek mathematician, physicist, engineer, astronomer, and inventor from the ancient city of Syracuse in Sicily. Although few details of his life are known, he is regarded as one of the leading scientis ...
and
Proclus Proclus Lycius (; 8 February 412 – 17 April 485), called Proclus the Successor ( grc-gre, Πρόκλος ὁ Διάδοχος, ''Próklos ho Diádokhos''), was a Greek Neoplatonist philosopher, one of the last major classical philosophe ...
, as well as the contemporary Claude Mydorge. Johan de Witt describes the
hyperbola In mathematics, a hyperbola (; pl. hyperbolas or hyperbolae ; adj. hyperbolic ) is a type of smooth curve lying in a plane, defined by its geometric properties or by equations for which it is the solution set. A hyperbola has two pieces, ca ...
with a rotating line and a sliding angle, and a
parabola In mathematics, a parabola is a plane curve which is mirror-symmetrical and is approximately U-shaped. It fits several superficially different mathematical descriptions, which can all be proved to define exactly the same curves. One descri ...
by means of a rotating angle and sliding line. In 1661, de Witt's work appeared in the second volume of von Schooten's Latin translation of ''
La Géométrie ''La Géométrie'' was published in 1637 as an appendix to ''Discours de la méthode'' ('' Discourse on the Method''), written by René Descartes. In the ''Discourse'', he presents his method for obtaining clarity on any subject. ''La Géométr ...
''. ''Elementa Curvarum Linearum'' has been described as the first textbook in
analytic geometry In classical mathematics, analytic geometry, also known as coordinate geometry or Cartesian geometry, is the study of geometry using a coordinate system. This contrasts with synthetic geometry. Analytic geometry is used in physics and enginee ...
.Albert W. Grootendorst (2000, 10) Jan de Witt's ''Elementa Curvarum Linearum'', in two volumes, ''Liber Primus'' (2000) and ''Liber Secundus'' (2010),
Springer books Springer Science+Business Media, commonly known as Springer, is a German multinational publishing company of books, e-books and peer-reviewed journals in science, humanities, technical and medical (STM) publishing. Originally founded in 1842 i ...
De Witt contributed to
financial mathematics Mathematical finance, also known as quantitative finance and financial mathematics, is a field of applied mathematics, concerned with mathematical modeling of financial markets. In general, there exist two separate branches of finance that require ...
: ''The Worth of Life Annuities Compared to Redemption Bonds''. This work combined his roles as statesman and as mathematician, and was discussed in the correspondence between
Leibniz Gottfried Wilhelm (von) Leibniz . ( – 14 November 1716) was a German polymath active as a mathematician, philosopher, scientist and diplomat. He is one of the most prominent figures in both the history of philosophy and the history of ma ...
and Bernoulli concerning the use of probabilities. Ever since the Middle Ages, a
life annuity A life annuity is an annuity, or series of payments at fixed intervals, paid while the purchaser (or annuitant) is alive. The majority of life annuities are insurance products sold or issued by life insurance companies however substantial case ...
was a way to obtain a regular income from a reliable source. The state, for instance, could provide a widow with a regular income until her death, in exchange for a 'lump sum' up front. There were also redemption bonds that were more like a regular state loan. De Witt showed that for the same principal a
bond Bond or bonds may refer to: Common meanings * Bond (finance), a type of debt security * Bail bond, a commercial third-party guarantor of surety bonds in the United States * Chemical bond, the attraction of atoms, ions or molecules to form chemical ...
paying 4%
interest In finance and economics, interest is payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum (that is, the amount borrowed), at a particular rate. It is distin ...
would result in the same profit as a life annuity of 6% (1 in 17). But the 'Staten' at the time were paying over 7% (1 in 14). The publication about life annuities is "one of the first applications of
probability Probability is the branch of mathematics concerning numerical descriptions of how likely an event is to occur, or how likely it is that a proposition is true. The probability of an event is a number between 0 and 1, where, roughly speaking, ...
in
economics Economics () is the social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics anal ...
."


References


Footnotes


Bibliography

* * * * * * * * *


External links

* * * {{DEFAULTSORT:Witt, Johan De 17th-century Dutch politicians 17th-century Dutch mathematicians 1625 births 1672 deaths Assassinated Dutch politicians Cannibalised people Deaths by firearm in the Netherlands Dutch members of the Dutch Reformed Church Dutch States Party politicians Grand Pensionaries Leiden University alumni Lynching deaths Mathematical analysts People from Dordrecht People murdered in the Netherlands University of Angers (pre-1793) alumni De Witt family