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
We have shewn how population must go on, in proportion to subsistence,
and in proportion to industry: now the machine eats nothing, so does not
diminish subsistence, and industry (in our age at least) is in no danger
of being overstocked in any well governed state; for let all the world
copy your improvements, they still will be the scholars. And if, on the
contrary, in the introduction of machines you are found to be the
scholars of other nations, in that case you are brought to the dilemma
of accepting the invention with all its inconveniencies, or of
renouncing every foreign communication.
In speculations of this kind, one ought not, I think, to conclude, that
experience _must_ of necessity prove what we imagine our reasoning has
pointed out.
The consequences of innovations in political oeconomy, admit of an
infinite variety, because of the infinite variety of circumstances which
attend them: no reasoning, therefore, however refined, can point out a
priori, what upon such occasions must indispensably follow. The
experiment must be made, circumstances must be allowed to operate;
inconveniencies must be prevented or rectified as far as possible; and
when these prove too many, or too great to be removed, the most
rational, the best concerted scheme in theory must be laid aside, until
preparatory steps be taken for rendring it practicable.
Upon the whole, daily experience shews the advantage and improvement
acquired by the introduction of machines. Let the inconveniencies
complained of be ever so sensibly felt, let a statesman be ever so
careless in relieving those who are forced to be idle, all these
inconveniencies are only temporary; the advantage is permanent, and the
necessity of introducing every method of abridging labour and expence,
in order to supply the wants of luxurious mankind, is absolutely
indispensable, according to modern policy, according to experience, and
according to reason.
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CHAP. XX.
_Miscellaneous Observations upon Agriculture and Population._
I have hitherto considered the object of agriculture, as no more than
the raising of grain; the food of mankind has been estimated by the
quantity they consume of that production; and husbandmen have been
supposed to have their residence in the country. As my subject has but
an indirect connection with the science of agriculture, I have
simplified many things complex in themselves, the better to adapt them
to the principal object of my inquiry, and the better to keep my
attention fixed upon one idea at a time. I am now going to return to
some parts of my subject, which I think I have treated too
superficially; and to examine, as I go along, some miscellaneous
questions which will naturally arise from what is to be said.
[Sidenote: QUEST. I.]
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