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
That tending to increase population is the remedy proposed, and, no
doubt, was it possible to introduce a new system of agriculture of a
larger absolute production, although the relative production should be
less, the inhabitants of the state becoming thereby better fed, though
at a greater cost, would infallibly multiply. Let me therefore examine
this first part before I say any thing of the other; and for the greater
distinctness I shall return to my example, and examine both the
consequences and the possibility of putting such a plan in execution.
Let me suppose, that by using the spade and rake, instead of the plow
and harrow, the lands of our island might be brought to produce with
more abundance; this is a method of increasing the expence of
agriculture, which would require an additional number of husbandmen.
Now, by the supposition, 500 farmers fed, though scantily, the whole of
the inhabitants, that is 1000 persons. If therefore 100 of the free
hands can be engaged to become farmers, the end may be attained: more
nourishment will be produced; the people will be better fed; they will
multiply; that is, their number will rise above 1000. Let us next
endeavour to form a judgment of this increase, and of the consequence of
the revolution.
The society will now be composed of 600 farmers and 400 free hands. The
600 will certainly produce more fruits than formerly; but as their
labour is relatively less productive by the supposition, it will be
impossible for them to furnish surplus equal to their own consumption;
consequently, the free hands never will be able to rise to a number
equal to theirs; that is, the society will never get up to 1200. But we
supposed, that the other wants of the society required the industry of
one half of the inhabitants to supply them; that is, of all the 500 free
hands; and, as the number of these has been already reduced, and can
never more rise to that proportion, as has been said, must not either
the people voluntarily adopt a more simple way of living; or must not
the demand for work rise very considerably? Let me consider the
consequences in both cases. In the first, you perceive, that if the
inhabitants themselves are obliged to simplify their way of living, for
want of hands to supply what they formerly consumed, three of the four
objects proposed by the reformation become impossible to be attained; to
wit, the defending themselves against their enemies, the supplying the
wants of strangers, and the supplying their own with more abundance. And
with regard to the fourth, the being better fed, that must cease to be
the case, the moment the end is obtained; that is, the moment the
inhabitants are multiplied up to the proportion of additional food.
Consequently, by simplifying their way of life, and allowing farming to
stand upon the new footing, they compass not any one of the ends they
proposed.
Public-domain text, read in full here on John Shaqi.
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