An inquiry into the permanent causes of the decline and fall of powerful and wealthy nations : $b Designed to shew how the prosperity of the British empire may be prolongedPlayfair, William
Philosophy
An inquiry into the permanent causes of the decline and fall of powerful and wealthy nations : $b Designed to shew how the prosperity of the British empire may be prolonged
Playfair, William
Economics; Great Britain -- Economic conditions; History -- Philosophy
Nations obtaining wealth by commerce are less liable to this danger
than any others; at least we are led to believe so, from the present
situation of things: we are, perhaps, however, not altogether right in
the conclusion.
In France there were, and in Germany, Russia, and Poland, there are
some immense fortunes, though general wealth is not nearly equal to
that of England: so much for a comparison between nations of the
present day. Again, it is certain, there were some fortunes in England,
in the times of the Plantagenets and Tudors, much greater than any of
the present times. {109} England was not then near so wealthy as it is
now, and had very little commerce: it would then appear, that whether
we compare England with what it was before it became a wealthy and
commercial nation, or with other nations, at the present time, which
are not wealthy, commerce and riches appear to have operated in
dividing riches, and making that division more equal, rather than in
rendering their accumulation great in particular hands, and their
distribution unequal.
Before we are too positive about the cause, though we admit this
effect, let us inquire whether there are not some other circumstances
that are peculiar to the present situation of England, that may, if not
wholly, at least in part, account for it.
The form of government in England is different from that of any of
those countries. It is also different in its nature, though not in its
form, from what it was under the Plantagenets and Tudors. Court favour
cannot enrich a family in this country, and the operation of the law is
tolerably equal. As neither protection, nor rank, in this country, raise
a man above the rest of society, so the richest subject is obliged to
obtain, by his expenditure, that consideration which he would ob-
---
{109} Two centuries ago, land was sold for twelve years purchase,
and the rents are five times as great as they were then; 10,000 L.
employed in buying land then would now produce 5000 L. a year. Had
the same money been lent, at interest, it would but produce 500 L. The
land, too, would sell for 140,000 L. The monied capital would remain
what it was.
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tain by other means, under another form of government, {110} and he
is as much compelled to pay his debts as any other man.
It is not, however, the great wealth of one individual, or even of a few
individuals, that is an object of consideration. It will be found that the
great number of persons, who live upon revenues, sufficiently
abundant to exempt them from care and attention, and to enable them
to injure the manners of the people, (being above the necessity of
economy, feeling none of its wants, and contributing nothing by their
own exertion to its wealth or strength,) is a very great evil, and one
that tends constantly to increase.
Public-domain text, read in full here on John Shaqi.
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