A history of economic doctrines : $b from the time of the physiocrats to the present dayGide, Charles
History
A history of economic doctrines : $b from the time of the physiocrats to the present day
Gide, Charles
Economics -- History
Neither should we omit to pay them full homage for the eminent services
rendered to the science, and among these not the least important
was the antagonism which their theories aroused in the minds of the
working classes. Pessimists unwittingly often do more for progress than
optimists. To these two writers fell the task of criticising economic
doctrines and institutions, a task that has been taken up by other
writers in the course of the century, but which seems as far from
completion as ever. Karl Marx, another critic, is intellectually a scion
of the Ricardian family. It would be a mistake to imagine that all their
theories savour of pessimism, but their reputation has always been more
or less closely linked with the gloomier aspect of their teaching.
I: MALTHUS[290]
Malthus is best known for his “law of population.” That he was a great
economist, even apart from his study of that question, might easily be
proved by reference to his treatise on political economy, or by a perusal
of the many miscellaneous articles which he wrote on various economic
questions. A consideration of many of these theories, notably the theory
of rent, must be postponed until we come to study them in connection with
the name of Ricardo.
THE LAW OF POPULATION
Twenty years had elapsed since the publication of Smith’s immortal work,
without economics making any advance, when the appearance of a small
anonymous volume, known to be the work of a country clergyman, caused
a great sensation. Even after the lapse of a century the echo of the
controversy which it aroused has not altogether passed away. At first
sight one might be led to think that the book touches only the fringe of
economics, seeing that it is chiefly a statistical study of population,
or demography, as the science is called to-day. But this new science,
of which Malthus must be regarded as the founder, was separated from
the main trunk of economics at a much later date. Furthermore, we shall
find that the influence of his book upon all economic theories, both
of production and distribution, was enormous. The essay might even be
considered a reply to that of Adam Smith. The same title with slight
modification would have served well enough, and James Bonar wittily
remarks that Malthus might have headed it _An Essay on the Causes of the
Poverty of Nations_.
The attempt to explain the persistence of certain economic phenomena by
connecting them with the presence of a new factor, biological in its
character and differing in its origin both from personal interest and
the mere desire for profit, considerably expanded the economic horizon
and announced the advent of sociology. We know that Darwin himself
acknowledged his indebtedness to the work of Malthus for the first
suggestion of what eventually became the most celebrated scientific
doctrine of the nineteenth century, namely, the conception of the
struggle for existence and the survival of the fittest as one of the
mainsprings of progress.
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