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
II. From this operation produced by industry, we find the people
distributed into two classes. The first is that of the farmers who
produce the subsistence, and who are necessarily employed in this branch
of business; the other I shall call _free hands_; because their
occupation being to procure themselves subsistence out of the
superfluity of the farmers, and by a labour adapted to the wants of the
society, may vary according to these wants, and these again according to
the spirit of the times.
III. If in the country we are treating of, both money and the luxurious
arts are supposed unknown, then the superfluity of the farmers will be
in proportion to the number of those whose labour will be found
sufficient to provide for all the other necessities of the inhabitants;
and so soon as this is accomplished, the consumption and produce
becoming equally balanced, the inhabitants will increase no more, or at
least very precariously, unless their wants be multiplied.
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CHAP. VI.
_How the Wants of Mankind promote their Multiplication._
If the country we were treating of in the former chapter be supposed of
a considerable extent and fruitfulness, and if the inhabitants have a
turn for industry; in a short time, _luxury_ and the use of _money_ (or
of something participating of the nature of money) will infallibly be
introduced.
By LUXURY, I understand _the consumption of any thing produced by the
labour or ingenuity of man, which flatters our senses or taste of
living, and which is neither necessary for our being well fed, well
clothed, well defended against the injuries of the weather, nor for
securing us against every thing which can hurt us_[H].
Footnote H:
As my subject is different from that of morals, I have no occasion to
consider the term luxury in any other than a political sense, to wit,
as a principle which produces employment, and gives bread to those who
supply the demands of the rich. For this reason I have chosen the
above definition of it, which conveys no idea, either of abuse,
sensuality, or excess; nor do I, at present, even consider the hurtful
consequences of it as to foreign trade. Principles here are treated of
with regard to mankind in general, and the effects of luxury are only
considered relatively to multiplication and agriculture. Our reasoning
will take a different turn, when we come to examine the separate
interest of nations, and the principles of trade.
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