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 — John Shaqi
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 he acts consistently with that spirit of liberty, which we have
supposed to animate his subjects, he has no method left, but to contrive
different employments for the hands of the necessitous, that, by their
labour, they may produce an equivalent which may be acceptable to the
farmers, in lieu of this superfluity; for these last will certainly not
raise it, if they cannot dispose of it; nor will they dispose of it, but
for a proper equivalent. This is the only method (in a free state) of
procuring additional food, and of distributing it through the society,
as the price of those hours which before were spent in idleness: and, as
this will prove a more certain and more extensive fund of subsistence,
than the precarious productions of spontaneous fruits, which cannot be
increased at discretion, and in proportion to demand, it will greatly
increase numbers; but, on the other hand, it must evidently destroy that
simplicity of manners which naturally reigns among nations who do not
labour.
A people, therefore, who have an industrious turn, will multiply in
proportion to the superfluity of their farmers; because the labour of
the necessitous will prove an equivalent for it.
Now this additional number of inhabitants being raised and fed with the
superfluity _actually_ produced by the farmers, can never be supposed
necessary for providing that quantity, which (though relatively to the
farmers it be called a superfluity) is only a sufficiency relatively to
the whole society; and, therefore, if it be found necessary to employ
the new inhabitants also in farming, it must only be with a view to a
still greater multiplication.
Farther, we may lay it down as a principle, that a farmer will not
labour to produce a superfluity of grain relatively to his own
consumption, unless he finds some want which may be supplied by means of
that superfluity; neither will other industrious persons work to supply
the wants of the farmer for any other reason than to procure
subsistence, which they cannot otherwise so easily obtain. These are the
reciprocal wants which the statesman must create, in order to bind the
society together. Here then is one principle: _Agriculture among a free
people will augment population, only in proportion as the necessitous
are put in a situation to purchase subsistence with their labour_. I
proceed.
Public-domain text, read in full here on John Shaqi.
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