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
Now as to the point under consideration. I find the three terms,
_luxury_, _sensuality_, and _excess_, generally considered in a
synonimous light, notwithstanding the characteristic differences which
distinguish them. _Luxury consists in providing the objects of
sensuality, in so far_ _as they are superfluous._ _Sensuality_ consists
_in the actual enjoyment of them_; and _excess_ implies _an abuse of
enjoyment_. A person, therefore, according to these definitions, may be
very _luxurious_ from vanity, pride, ostentation, or with a political
view of encouraging consumption, without having a turn for sensuality,
or a tendency to fall into excess. _Sensuality_, on the other hand,
might have been indulged in a Lacedemonian republic, as well as at the
court of Artaxerxes. _Excess_, indeed, seems more closely connected with
_sensuality_, than with _luxury_; but the difference is so great, that I
apprehend _sensuality_ must in a great measure be extinguished, before
_excess_ can begin.
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CHAP. XXI.
_Of Physical and Political Necessaries._
After having cleared up our ideas concerning _luxury_, it comes very
naturally in, to examine what is meant by _physical necessary_.
I have observed in the third chapter of the first book, that in most
countries where food is limited to a determined quantity, inhabitants
are fed in a regular progression down from plenty and ample subsistence,
to the last period of want, and dying from hunger. _It is ample
subsistence where no degree of superfluity is implied_, which
communicates an idea of the _physical-necessary_. It is the top of this
ladder; it is the first rank among men who enjoy no superfluity
whatsoever. A man enjoys the physical-necessary as to food, when he is
fully fed; if he is likewise sufficiently clothed, and well defended
against every thing which may hurt him, he enjoys his full
physical-necessary. The moment he begins to add to this, he may be
considered as moving upwards into another category, to wit, the class of
the _luxurious_, or consumers of superfluity; of which there are to be
found, in most countries, as many stages upward, as there are stages
downwards, from where he stood before. This is one general idea of the
question. Let me now look for another.
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