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 a society does not concur in this plan of reciprocal industry, their
numbers will cease to increase; because the industrious will not feed
the idle. This I call a state of a moral impossibility of increase in
numbers, and I distinguish it from the physical impossibility, which can
take place only when nature itself, not man, refuses to produce
subsistence. From this I apply to each particular society what I had
before found applicable to mankind in general; to wit,
That the inhabitants of every country must be in the compound proportion
of the quantity of food produced in it, and of the industry of the lower
classes. If the food produced surpass the proportion of industry, the
balance of food will be exported; if the industry surpasses the
proportion of food, its deficiency must be supplied by imports.
Reciprocal wants excite to labour; consequently, those whose labour is
not directed towards the cultivation of the soil, must live upon a
surplus produced by those who do. This divides the society into two
classes. The one I call farmers, the other free hands.
As the creating these reciprocal wants was what set the society to work,
and distributed them naturally into the two classes we have mentioned;
so the augmentation of wants will require an augmentation of free hands,
and their demand for food will increase agriculture.
[Sidenote: CHAP. VI.]
Here I define luxury to mean no more than the consumption of
superfluity, or the supplying of wants not essentially necessary to
life; and, I say, that a taste for superfluity will introduce the use of
money, which I represent as the general object of want, that is of
desire, among mankind; and I shew how an eagerness to acquire it becomes
an universal passion, a means of increasing industry among the free
hands; consequently, of augmenting their numbers; consequently, of
promoting agriculture for their subsistence.
The whole operation I have been describing proceeds upon one
supposition, to wit, that the people have a taste for labour, and the
rich for superfluity. If these be covetous and admirers of simplicity;
or those be lazy and void of ambition, the principles laid down will
have no effect: and so in fact we find, that it is not in the finest
countries in the world where most inhabitants are found, but in the most
industrious.
Let it therefore never be said, there are too many manufacturers in a
free country. It is the same thing as if it was said, there are too few
idle persons, too few beggars, and too many husbandmen.
[Sidenote: CHAP. VII.]
Here I break off my subject, to answer an objection arising from these
principles.
OBJ. How could the simplicity of the antients be compatible with a great
multiplication?
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account