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 interest the state has in levying these impositions, gives a
statesman an opportunity of laying such operations under certain
restrictions; by the means of which, upon every change of circumstances,
he can produce the effect he thinks fit. Do the people buy from
foreigners what they can find at home, he imposes a duty upon
importation. Do they sell what they ought to manufacture, he shuts the
gates of the country. Do they transfer or transport at home, he
accelerates or retards the operation, as best suits the common interest.
Do they modify or compound what the public good requires to be consumed
in its simple state, he can either prevent it by a positive prohibition,
or he may permit such consumption to the more wealthy only, by
subjecting it to a duty.
So powerful an influence over the operations of a whole people, vests an
authority in a modern statesman, which was unknown in former ages, under
the most absolute governments. We may discover the effects of this, by
reflecting on the force of some states, at present, in Europe, where the
sovereign power is extremely limited, as to every _arbitrary_ exercise
of it, and where, at the same time, that very power is found to operate
over the wealth of the inhabitants, in a manner far more efficacious
than the most despotic and arbitrary authority can possibly do.
It is the order and regularity in the administration of the complicated
modern oeconomy, which alone can put a statesman in a capacity to exert
the whole force of his people. The more he has their actions under his
direction, the easier it is for him to make them concur in advancing the
general good.
Here it is objected, that any free people who invest a statesman with a
power to control their most trivial actions, must be out of their wits,
and considered as submitting to a voluntary slavery of the worst nature,
as it must be the most difficult to be shaken off. This I agree to;
supposing the power vested to be of an arbitrary nature, such as we have
described in the thirteenth chapter of this book. But while the
legislative power is only exerted in acquiring an influence over the
actions of individuals, in order to promote a scheme of political
oeconomy, uniform and consistent in all its parts, the consequence will
be so far from introducing slavery among the people, that the execution
of the plan will prove absolutely inconsistent with every arbitrary or
irregular measure.
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