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
If we examine the state of many animals which have no appetites leading
them to excess, we may form a very just idea of a _physical-necessary_
for man. When they are free from labour, and have food at will, they
enjoy their full physical-necessary. They are then in the height of
beauty, and enjoy the greatest degree of happiness they are capable of.
Animals which are forced to labour, prove to us very plainly, that this
_physical-necessary_ is not fixed to a point, but that it may vary like
most other things: every one perceives the difference between labouring
cattle which are well fed, and those which are middling, or ill fed; all
however, I suppose to live in health, and to work according to their
strength. This represents the nature of a _physical-necessary_ for man.
In many of the inferior classes in every nation, we find various degrees
of ease among the individuals; and yet upon the whole, it would be hard
to determine, which are those who enjoy superfluity; which are those who
possess the pure physical-necessary; and which are those who fall below
it. The cause of this ambiguity must here be explained.
The nature of man furnishes him with some desires relative to his wants,
which do not proceed from his animal oeconomy, but which are entirely
similar to them in their effects. These proceed from the affections of
his mind, are formed by habit and education, and when once _regularly
established_, create another kind of necessary, which, for the sake of
distinction, I shall call _political_. The similitude between these two
species of _necessary_, is therefore the cause of ambiguity.
This _political-necessary_ has for its object, certain articles of
_physical superfluity_, which distinguishes what we call _rank_ in
society.
_Rank_ is determined by birth, education, or habit. A man with
difficulty submits to descend from a higher way of living to a lower;
and when an accidental circumstance has raised him for a while, above
the level of that _rank_ where his _birth_ or _education_ had placed
him, his ambition prompts him to support himself in his elevation. If
his attempt be a rational scheme, he is generally approved of; the
common consent of his fellow-citizens prescribes a certain
_political-necessary_ for him, proportioned to his ambition; and when at
any time _this_ comes to fail, he is considered to be in want.
If on the other hand, a person either from vanity, or from no rational
prospect of success, forms a scheme of rising above the _rank_ where
_birth_ or _education_ had placed him, his fellow-citizens do not
consent to prescribe for him a political-necessary suitable to his
ambition; and when this fails him, he is only considered to fall back
into the class he properly belonged to. But if the political-necessary
suitable to this rank should come to fail, then he is supposed to be
deprived of his _political-necessary_.
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