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
I shall do what I can to diversify, by various circumstances, the
repetitions which this disposition must lead me into. There is no seeing
a whole kingdom, without passing now and then through a town which one
has seen before. I shall therefore imitate the traveller, who, upon such
occasions, makes his stay very short, unless some new curiosity should
happen to engage his attention.
I have said, that self-interest is the ruling principle of my subject,
and I have so explained myself, as to prevent any one from supposing,
that I consider it as the universal spring of human actions. Here is the
light in which I want to represent this matter.
The best way to govern a society, and to engage every one to conduct
himself according to a plan, is for the statesman to form a system of
administration, the most consistent possible with the interest of every
individual, and never to flatter himself that his people will be brought
to act in general, and in matters which purely regard the public, from
any other principle than private interest. This is the utmost length to
which I pretend to carry my position. As to what regards the merit and
demerit of actions in general, I think it fully as absurd to say, that
no action is truly virtuous, as to affirm, that none is really vitious.
It might perhaps be expected, that, in treating of politics, I should
have brought in public spirit also, as a principle of action; whereas
all I require with respect to this principle is, only a restraint from
it; and even this is, perhaps, too much to be taken for granted. Were
public spirit, instead of private utility, to become the spring of
action in the individuals of a well-governed state, I apprehend, it
would spoil all. I explain myself.
Public spirit, in my way of treating this subject, is as superfluous in
the governed, as it ought to be all-powerful in the statesman; at least,
if it is not altogether superfluous, it is fully as much so, as miracles
are in a religion once fully established. Both are admirable at setting
out, but would shake every thing loose were they to continue to be
common and familiar. Were miracles wrought every day, the laws of nature
would no longer be laws: and were every one to act for the public, and
neglect himself, the statesman would be bewildered, and the supposition
is ridiculous.
Public-domain text, read in full here on John Shaqi.
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