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
The introduction of machines can, I think, in no other way prove hurtful
by making people idle, than by the suddenness of it: and I have
frequently observed, that all sudden revolutions, let them be ever so
advantageous, must be accompanied with inconveniencies. A safe,
honourable, and lasting peace, after a long, dangerous, and expensive
war, forces a number of hands to be idle, and deprives them of bread.
Peace then may be considered as a machine for defending a nation, at the
political loss of making an army idle; yet no body, I believe, will
alledge that in order to give bread to soldiers, sutlers, and
undertakers, the war should be continued. But here I must observe, that
it seems to be a palpable defect in policy, if a statesman shall neglect
to find out a proper expedient (at whatever first expence it may be
procured) for giving bread to those who, at the risk of their lives,
have gone through so many fatigues for the service of their country.
This expence should be charged to the account of the war, and a state
ought to consider, that as their safety required that numbers should be
taken out of the way of securing to themselves a lasting fund of
subsistence, which would have rendered them independent of every body,
(supposing that to have been the case) she becomes bound by the contract
of society, which ties all together, to find them employment. Let me
seek for another illustration concerning this matter.
I want to make a rampart cross a river, in order to establish a bridge,
a mill, a sluice, &c. For this purpose, I must turn off the water, that
is, stop the river; would it be a good objection against my improvement
to say, that the water would overflow the neighbouring lands, as if I
could be supposed so improvident as not to have prepared a new channel
for it? Machines stop the river; it is the business of the state to make
the new channel, as it is the public which is to reap the benefit of the
sluice: I imagine what I have said will naturally suggest an answer to
all possible objections against the introduction of machines; as for the
advantages of them, they are so palpable that I need not insist upon
them. There is however one case in which I think they may be disapproved
of; but it seems a chimerical supposition, and is brought in here for no
other purpose than to point out and illustrate the principle which,
influences this branch of our subject.
Public-domain text, read in full here on John Shaqi.
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