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
Here I look for my answer from what daily experience points out. Two
persons (A) and (B) have each 1000_l._ a year; (A) has many children,
(B) has none: they both spend their income; (A) upon the necessaries of
life for his family, and for the education of his children; for the
supplying of which, those of the working class are only employed, for
who ever does or gives any thing for money, I consider as a worker: (B)
spends his income as a fashionable young gentleman; he has a fine
chariot, abundance of footmen in laced liveries; in short, without
examining into the particulars of his expence, I find the whole 1000_l._
spent at the end of the year. Neither (A) nor (B) do any work; nor are
any of (A’s) children necessary as a supply to the working hands, by the
supposition. Is it not true then, that (B) has consumed as much work or
service, for these I consider as the same thing, as (A) with his family?
Nay, I may still go farther, and affirm, that (B) has contributed as
much, if not more, to population than (A). For if it be true, that he
who gives food gives numbers, I say, that the expence of (B) has given
food to the children of the industrious employed by him: consequently,
in place of having directly contributed to the increase of the idle of
the state, which is the case with (A), he has indirectly contributed to
the multiplication of the industrious. What good then does the state
reap from (A’s) children, from his marriage, from his multiplication?
Indeed, I see no harm although he had remained a batchelor: for those
who produce only idle consumers, certainly add neither riches, strength,
or ease to a state. And it is of such people alone that there is any
question here.
From this I conclude, that there can be no determined number of rich
idle consumers necessary to employ a determined number of industrious
people, no more than of masters to employ a fixt number of menial
servants. Do we not see a single man frequently attended by more
servants than are necessary when he gets a wife and family: nay, it many
times happens, that a young man, upon his marriage, diminishes the
number of his domestics, in order to give bread to his children.
If riches are calculated, as I hope to be able to shew, for the
encouragement of industry; if circulation is to be accelerated by every
method, in order to give bread to those who are disposed to work, or, in
other words, who are disposed to become vigorous members of the
commonwealth, by contributing with their strength, their ingenuity, or
their talents, to supply her wants, to augment their riches, to promote
and administer a good government at home, or to serve it abroad: then, I
say, the too great multiplication of those, who come under none of these
classes, the idle consumers as I have called them, contribute directly
to make the other part languish.
Public-domain text, read in full here on John Shaqi.
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