Don Patinkin exhaustively discusses this matter in his December 1973  
American Economic Review article entitled "In Search of the "Wheel of  
Wealth": On the Origins of Frank Knight's Circular-Flow Diagram",  
pages 1037-46.
After depicting and describing the circular flow diagrams of Simon  
Newcomb (1886), Fleeming Jenkin (1887), Knut Wicksell (1901), Chiam  
Dov Hurewitz (1900), Francesco Ferrara (1864), Hector Denis (1904),  
Foster and Catchings (1923), M. C. Rorty (1922) -- diagrams that  
Patinkin judges deficient for one reason or another -- he ultimately  
awards the prize to Nicholas A. L. J. Johannsen (1908) who also  
published the diagram in 1903 under the pseudonym J.J. O. Lahn.


On Mar 24, 2014, at 2:47 PM, [log in to unmask] wrote:

> Colleagues:
>
>     What is the origin, or who first published the standard circular  
> flow diagram that appears in various forms in introductory texts?   
> Did it precede or follow from the keeping of National Accounts in  
> the first half of the twentieth century?
>
>     Thanks to you who answered the question wrp "aggregate demand"  
> and "aggregate supply", terms that came into use with Keynesian  
> macroeconomics.
>
> Robin Neill.