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
The second cause of decline is far more difficult to be removed. The
root of it lies deep, and is ingrafted with the spirit and manners of
the whole people, high and low. The lower classes have contracted a
taste for superfluity and expence, which they are enabled to gratify, by
working for their countrymen; while they despise the branches of foreign
trade as low and unprofitable. The higher classes again depend upon the
lower classes, for the gratification of a thousand little trifling
desires, formed by the taste of dissipation, and supported by habit,
fashion, and a love of expence.
Here then is a system set on foot, whereby the poor are made rich, and
the rich are made happy, in the enjoyment of a perpetual variety of
every thing which can remove the inconveniencies to which human nature
is exposed. Thus both parties become interested to support it, and vie
with one another in the ingenuity of contriving new wants; the one from
the immediate satisfaction of removing them; the other from the profit
of furnishing the means, and the hopes of one day sharing in them.
But even for this great evil, the very nature of man points out a
remedy. It is the business of a statesman to lay hold of it. The remedy
flows from the instability of every taste not founded upon rational
desires.
In every country of luxury, we constantly find certain classes of
workmen in distress, from the change of modes. Were a statesman upon his
guard to employ such as are forced to be idle, before they betake
themselves to new inventions, for the support of the old plan, or before
they contract an abandoned and vitious life, he would get them cheap,
and might turn their labour both to the advantage of the state and to
the discouragement of luxury.
Public-domain text, read in full here on John Shaqi.
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