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
To prepare the way for treating this subject, in that order which the
revolutions of the last centuries have pointed out as the most natural,
I have made the distribution of my plan in the following order.
Population and agriculture are the foundations of the whole. Civil and
domestic liberty, introduced into Europe by the dissolution of the
feudal form of government, set trade and industry on foot; these
produced wealth and credit; these again debts and taxes; and all
together established a perfectly new system of political oeconomy, the
principles of which it is my intention to deduce and examine.
Population and agriculture, as I have said, must be the basis of the
whole, in all ages of the world; and as they are so blended together in
their connections and relations, as to make the separation of them quite
incompatible with perspicuity and order, they have naturally been made
the subject of the first book.
[Sidenote: CHAP. III.]
I have shewn, that the first principle of multiplication is generation;
the second is food: the one gives existence and life; the other
preserves them.
The earth’s spontaneous fruits being of a determined quantity, never can
feed above a determined number. Labour is a method of augmenting the
productions of nature, and in proportion to the augmentation, numbers
may increase. From these positions, I conclude,
[Sidenote: CHAP. IV.]
That the numbers of mankind must ever have been in proportion to the
produce of the earth; and this produce must constantly be in the
compound ratio of the fertility of the soil, and labour of the
inhabitants. Consequently, there can be no determined universal
proportion over the world, between the number of those necessary for
labouring the soil, and of those who may be maintained by its produce.
Here I am led to examine the motives which may induce one part of a free
people to labour, in order to feed the other.
This I shew to proceed from the different wants to which mankind are
liable.
[Sidenote: CHAP. V.]
Here I introduce a statesman, as being necessary to model the spirit of
a society. He contrives and encourages reciprocal objects of want, which
have each their allurement. This engages every one in a different
occupation, and must hurt the former simplicity of manners. I shew how
essential it is, to keep a just balance throughout every part of
industry, that no discouragement may be cast upon any branch of it,
either from superfluity, or want; and I have pointed out, how the
dividing of food between parents and children, is the means of bringing
on scarcity, which inconveniency can only be removed by an augmentation
of labour.
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