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
If you can imagine a country peopled to the utmost extent of the
fertility of the soil, and absolutely cut off from any communication
with other nations; all the inhabitants fully employed in supplying the
wants of one another, the circulation of money going forward regularly,
proportionally, and uniformly through every vein, as I may call it, of
the political body; no hidden or extraordinary demand at any time for
any branch of industry; no redundancy of any employment; no possibility
of increasing either circulation, industry, or consumption. In such a
situation as that I should disapprove of the introduction of machines,
as I disapprove of taking physic in an established state of perfect
health. I disapprove of a machine only because it is an innovation in a
state absolutely perfect in these branches of its political oeconomy;
and where there is perfection there can be no improvement. I farther
disapprove of it because it might force a man to be idle, who would be
found thereby in a physical impossibility of getting his bread, in any
other way than that in which he is supposed to be actually employed.
The present situation of every country in Europe, is so infinitely
distant from this degree of perfection, that I must consider the
introduction of machines, and of every method of augmenting the produce
or facilitating the labour and ingenuity of man, as of the greatest
utility. Why do people wish to augment population, but in order to
compass these ends? Wherein does the effect of a machine differ from
that of new inhabitants?
As agriculture, exercised as a trade, purges the land of idle mouths,
and pushes them to a new industry which the state may turn to her own
advantage; so does a machine introduced into a manufacture, purge off
hands which then become superfluous _in that branch_, and which may
quickly be employed in another.
If therefore the machine proves hurtful, it can only be because it
presents the state with an additional number of hands bred to labour;
consequently, if these are afterwards found without bread, it must
proceed from a want of attention in the statesman: for an industrious
man made idle, may constantly be employed to advantage, and with profit
to him who employs him. What could an act of naturalization do more,
than furnish industrious hands forced to be idle, and demanding
employment? Machines therefore I consider as a method of augmenting
(virtually) the number of the industrious, without the expence of
feeding an additional number: this by no means obstructs natural and
useful population, for the most obvious reasons.
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