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 have observed above, that domestic luxury, by offering high prices
upon certain species of industry, calls off many hands employed to
supply the articles of exportation, upon which profits are generally
very moderate. The first natural and immediate effect of this, is, to
diminish the hands employed in furnishing the foreign demand;
consequently, to diminish the supply; consequently, to occasion a
_simple competition_ on the side of the strangers, who are the
purchasers; consequently, to augment profits, until by their rise and
consolidation the market is deserted.
The very progress here laid down, points out the remedy. The number of
hands employed in these particular branches must be multiplied; and if
the luxurious taste and wealth of the country prevent any one who can do
better, from betaking himself to a species of industry lucrative to the
nation, but ungrateful to those who exercise it, the statesman must
collect the children of the wretched into workhouses, and breed them to
this employment, under the best regulations possible for saving every
article of unnecessary expence; here likewise may be employed
occasionally those above mentioned, whom the change of modes may have
cast out of employment, until they can be better provided for. This is
also an outlet for foundlings, since many of those who work for foreign
exportation, are justly to be ranked in the lowest classes of the
people; and in the first book we proposed, that every one brought up at
the expence of public charity, should be thrown in for recruiting these
classes, which can with greatest difficulty support their own
propagation.
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