An Inquiry into the Principles of Political Oeconomy (Vol. 1 of 2): Being an essay on the science of domestic policy in free nations. In which are particularly considered population, agriculture, trade, industry, money, coin, interest, circulation, banks, exchange, public credit, and taxesSteuart, James, Sir
History
An Inquiry into the Principles of Political Oeconomy (Vol. 1 of 2): Being an essay on the science of domestic policy in free nations. In which are particularly considered population, agriculture, trade, industry, money, coin, interest, circulation, banks, exchange, public credit, and taxes
Steuart, James, Sir
Economics
In the titles of my chapters, I rather seek to communicate a rough idea
of the subject than a correct one. In truth and in reason, there is no
such thing as a country actually peopled to the full, if by this term
numbers only are meant, without considering the proportion they bear to
the consumption they make of the productions of their country. I have in
a former chapter established a distinction between the physical and
moral impossibility of increasing numbers. As to the physical
impossibility, the case can hardly exist, because means of procuring
subsistence from other countries, when the soil refuses to give more,
seem, if not inexhaustible, at least very extensive. A country therefore
fully peopled, that is, in a physical impossibility of increasing their
numbers, is a chimerical and useless supposition. The subject here under
consideration is, the situation of a people, who find it their interest
to seek for subsistence from abroad. This may happen, and commonly does,
long before the country itself is fully improved: it decides nothing as
to the intrinsic fertility of the soil, and proves no more, than that
the industry of the free hands has made a quicker progress in
multiplying mouths, than that of the farmers in providing subsistence.
To illustrate this idea, let me propose the following question.
Is multiplication the efficient cause of agriculture, or is agriculture
that of multiplication?
I answer, that multiplication is the efficient cause of agriculture,
though I allow, that, in the infancy of society, the spontaneous fruits
of the earth, which are free to all, are the efficient cause of a
multiplication, which may rise to the exact proportion of them; as has
been said above. This must be explained.
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