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 imperfection of language engages us frequently in disputes merely
verbal; and instead of being on our guard against the many unavoidable
ambiguities attending the most careful speech, we place a great part of
our learning when at school, and of our wit when we appear on the stage
of the world, in the prostitution of language. The learned delight in
vague, and the witty in equivocal terms. In general, we familiarize
ourselves so much with words, and think so little, when we speak and
write, that the signs of our ideas take the place of the images which
they were intended to represent.
Every true proposition, when understood, must be assented to
_universally_. This is the case always, when simple ideas are affirmed
or denied of each other. No body ever doubted that sound is the object
of hearing, or colour that of sight, or that black is not white. But
whenever a dispute arises concerning a proposition, wherein complex
ideas are compared, we may often rest assured, that the parties do not
understand each other. Luxury, says one, is incompatible with the
prosperity of a state. Luxury is the fountain of a nation’s welfare and
happiness, says another. There may, in reality, be no difference in the
sentiments of these two persons. The first may consider luxury as
prejudicial to foreign trade, and as corrupting the morals of a people.
The other may consider luxury as the means of providing employment for
such as must live by their industry, and of promoting an equable
circulation of wealth and subsistence, through all the classes of
inhabitants. If each of them had attended to the combination of the
other’s complex idea of luxury, with all its consequences, they would
have rendered their propositions less general.
The difference, therefore, of opinion between men is frequently more
apparent than real. When we compare our own ideas, we constantly see
their relations with perspicuity; but when we come to communicate those
relations to other people, it is often impossible to put them into words
sufficiently expressive of the precise combination we have made in our
own minds.
This being the case, I have avoided, as much as possible, condemning
such opinions as I have taken the liberty to review; because I have
examined such only as have been advanced by men of genius and
reputation: and since all matters of controversy regard the comparison of
our _ideas_, if the terms we use to express them were sufficiently
understood by both parties, most political disputes would, I am
persuaded, be soon at an end.
Here it may be objected, that we frequently adopt an opinion, without
being able to give a sufficient reason for it, and yet we cannot gain
upon ourselves to give it up, though we find it combated by the
strongest arguments.
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