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
We have endeavoured to lay down the principles which seem to influence
these two objects, supposing all to be free. In that case I imagine the
human species will multiply pretty much in proportion to their industry;
their industry will increase according to their wants, and these again
will be diversified according to the spirit of the times.
From this I conclude, that the more free and simple the manners of a
country are, _cæteris paribus_, the fewer inhabitants will be found in
it. This is proved by experience every where. The Tartars, who freely
wander up and down a country of vast extent, multiply but little; the
savages in America, who live upon hunting, in a state of great
independence; the inhabitants of several mountainous countries in
Europe, where there are few manufactures, and where the inhabitants do
not leave the country; in all such places mankind do not multiply. What
is the reason of this? One would imagine, where there is a great extent
of ground capable of producing food, that mankind should multiply until
the soil refused to give more. I imagine the answer may be easily
discovered from the principles above laid down.
Where mankind have few wants, the number of free hands necessary to
supply them is very small, consequently very little surplus from the
farmers is sufficient to maintain them. When therefore it happens, that
any poor family in the class of free hands is very numerous, division
there comes to be carried to its utmost extent, and the greatest part
become quite idle, because there is no demand for their work. As long as
they can be fed by the division of the emoluments arising from the
labour of their parents, or by the charity of others, they live; when
these resources fail, they become miserable. In so wretched a situation
it is not easy to find bread. The farmers will not double their
diligence from a charitable disposition. Those who have land will not
allow those indigent people a liberty to raise grain in it for nothing;
and although they should, the poor are not in a capacity to provide what
is necessary for doing it. All other work is fully stocked, the wretched
die, or extinguish without multiplying.
To make this more evident, let us suppose the wants of mankind, in any
polite nation of Europe, which lives and flourishes in our days upon the
produce of its own soil, reduced all at once to the simplicity of the
antient patriarchs, or even to that of the old Romans. Suppose all the
hands now employed in the luxurious arts, and in every branch of modern
manufactures, to become quite idle, how could they be subsisted? What
oeconomy could be set on foot able to preserve so many lives useful to
the state? Yet it is plain by the supposition, that the farmers of the
country are capable of maintaining them, since they do so actually. It
would be absurd to propose to employ them in agriculture, seeing there
are enough employed in this, to provide food for the whole.
Public-domain text, read in full here on John Shaqi.
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