A History of Greek Economic ThoughtTrever, Albert Augustus
History
A History of Greek Economic Thought
Trever, Albert Augustus
Economics -- Greece -- History; Thesis (Ph. D.)
Aristotle also distinguishes a third type of finance (χρηματιστική)
which shares in the nature of both those above described. It deals with
natural resources and their products, but with things which, though
useful, are not fruits (ἀκάρπιμα), such as wood-cutting (ὑλοτομία) and
mining in all its branches (μεταλλευτική).[763] The meaning may be best
apprehended if, with Ashley,[764] we observe that οἰκονομική is
characterized, not only by direct acquisition of nature’s products, but
also by a personal use of the same, while the unnatural finance has
neither of these qualities. The medium kind, then, is like the former,
in that it involves direct acquisition of natural resources, but like
the latter, in that it does not acquire for directly personal use, but
for exchange. It consists, therefore, not so much in the arts
themselves, as in the exchange that is based on them.
In the discussion of the so-called false finance, Aristotle thus reveals
a markedly hostile attitude to any extensive development of exchange.
The middleman is considered to be a parasite and necessarily degenerate
by the very fact of his business.[765] As seen above, his criticism was
doubtless directed chiefly against the mean and dishonest spirit in the
actual retail trade and money-loaning of his day.[766] Yet here also,
just as in the _Ethics_ passage above discussed, his prejudice blinds
him to the fact that exchangers may be real producers, and that, after
all, even the alleged false finance is not unlimited, but that it is
distinctly bounded by economic demand.[767] Still worse, he includes
hired labor of every kind under unlimited acquisition, merely because it
has some of the other qualities of that type of economy, though it
certainly does not tend to unlimited enrichment even as much as
agriculture.[768] However, he should be given credit of being a
forerunner of the modern humanitarian economy, which insists that the
final goal of all economics should be proper consumption, and that
acquisition must be relegated to its true place as a means, the supreme
end being human welfare.[769]
POPULATION
Aristotle exhibits an interest in the problem of population in relation
to subsistence in his criticism of Plato for limiting the amount of
property and making it indivisible, while failing to provide against a
too high birth-rate.[770] He states the principle that, if property is
to be limited, there must be a corresponding limitation on the increase
of population,[771] and that the let-alone policy must be followed by
increased poverty.[772] He therefore criticizes the Spartan law, for
encouraging the largest possible families.[773] It is evident, however,
that, as in the case of Plato, his interest in the problem is prompted
chiefly by a moral and political motive. It arises merely from his
desire to limit individual acquisition, in a small state, artificially
constructed, and is to him in no sense a question of world
food-supply.[774]
Public-domain text, read in full here on John Shaqi.
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