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
As this noble animal is a sociable creature, both from necessity and
inclination, we also find, in all ages, climates and countries, a
certain modification of government and subordination established among
them. Here again we are presented with as great variety as there are
different societies; all however agreeing in this, that the end of a
_voluntary_ subordination to authority is with a view to promote the
general good.
Constant and uninterrupted experience has proved to man, that virtue and
justice in those who govern, are sufficient to render the society happy,
under any form of government. Virtue and justice when applied to
government mean no more than a tender affection for the whole society,
and an exact and impartial regard for the interest of every class.
All actions, and indeed all things, are good or bad only by relation.
Nothing is so complex as relations when considered with regard to a
society, and nothing is so difficult as to discover truth when involved
and blended with these relations.
We must not conclude from this, that every operation of government
becomes problematical and uncertain as to its consequences: some are
evidently good; others are notoriously bad: the middle terms are always
the least essential, and the more complex they appear to a discerning
eye, the more trivial they are found to be in their immediate
consequences.
A government must be continually in action, and one principal object of
its attention must be, the consequences and effects of new institutions.
Experience alone will shew, what human prudence could not foresee; and
mistakes must be corrected as often as expediency requires.
All governments have what they call their fundamental laws; but
fundamental, that is, invariable laws, can never subsist among men, the
most variable thing we know: the only fundamental law, _salus populi_,
must ever be relative, like every other thing. But this is rather a
maxim than a law.
It is however expedient, nay absolutely necessary, that in every state,
certain laws be supposed fundamental and invariable: both to serve as a
curb to the ambition of individuals, and to point out to the statesman
the out-lines, or sketch of that plan of government, which experience
has proved to be the best adapted to the spirit of his people.
Such laws may even be considered as actually invariable, while a state
subsists without convulsions or revolutions: because then the
alterations are so gradual, that they become imperceptible to all, but
the most discerning, who compare the customs and manners of the same
people in different periods of time and under different combinations of
circumstances.
As we have taken for granted the fundamental maxim, that every operation
of government should be calculated for the good of the people, so we may
with equal certainty decide, that in order to make a people happy, they
must be governed according to the spirit which prevails among them.
Public-domain text, read in full here on John Shaqi.
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