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
No term is less understood than that of _liberty_, and it is not my
intention, at present, to enter into a particular inquiry into all the
different acceptations of it.
By a people’s being free, I understand no more than their being governed
by general laws, well known, not depending upon the ambulatory will of
any man, or any set of men, and established so as not to be changed, but
in a regular and uniform way; for reasons which regard the body of the
society, and not through favour or prejudice to particular persons, or
particular classes. In so far as a power of dispensing with, restraining
or extending general laws, is left in the hands of any governor, in so
far, I consider public liberty as precarious. I do not say it is hereby
hurt; this will depend upon the use made of such prerogatives. According
to this definition of liberty, a people may be found to enjoy freedom
under the most despotic forms of government; and perpetual service
itself, where the master’s power is limited according to natural equity,
is not altogether incompatible with liberty in the servant.
Here new ideas present themselves concerning the general principles of
_subordination_ and _dependence_ among mankind; which I shall lay before
my reader before I proceed, submitting the justness of them to his
decision.
As these terms are both relative, it is proper to observe, that by
_subordination_ is implied an authority which superiors have over
inferiors; and by _dependence_, is implied certain advantages which the
inferiors draw from their subordination: a servant is under
_subordination_ to his master, and _depends_ upon him for his
subsistence.
Dependence is the only bond of society; and I have observed, in the
fourth chapter of the first book, that the dependence of one man upon
another for food, is a very natural introduction to slavery. This was
the first contrivance mankind fell upon, in order to become useful to
one another.
Upon the abolishing of slavery, from a principle of christianity, the
next step taken, was the establishment of an extraordinary subordination
between the different classes of the people; this was the principle of
the feudal government.
The last refinement, and that which has brought liberty to be generally
extended to the lowest denominations of a people, without destroying
that dependence necessary to serve as a band of society, was the
introduction of industry: by this is implied, the circulation of an
adequate equivalent for every service, which procures to the rich, every
advantage they could expect to reap, either from the servitude or
dependence of the poor; and to these again, every comfort they could
wish to enjoy under the mildest slavery, or most gentle subordination.
Public-domain text, read in full here on John Shaqi.
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