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
Let this suffice at present, as to the distribution, employment, and
increase of a people. Upon the proper employment of the free hands, the
prosperity of every state must depend: consequently the principal care
of a statesman should be, to keep all employed, and for this purpose he
must acquire an exact knowledge of the state of every denomination, in
order to prevent any one from rising above, or sinking below that
standard which is best proportioned to the demand made for their
particular industry. As the bad consequences resulting from the loss of
this exact balance are not immediate, a moderate attention, with the
help of the proper recapitulations, will be sufficient to direct him.
This and the two preceding chapters have in a manner wholly treated of
the employment of the free hands: I must now consider the effects of an
overcharge of those employed in agriculture. Here we shall still
discover inconveniencies, resulting from the want of that just
proportion in the distribution of classes, which gives health and vigour
to a state; and we shall see how it may happen, that even an overcharge
of inhabitants in general may become a political disease; as an
abundance of blood, however rich and good, may affect the health of the
human body.
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CHAP. XIV.
_Of the Abuse of Agriculture and Population._
I have taken notice above of two performances, wherein the authors, with
equal ability, have treated of the numbers of mankind; a subject which
has a very close connection with political oeconomy.
Although (as I have said) I do not pretend to decide between them as to
the point in dispute, I find that in this chapter I shall be naturally
led into a chain of reasoning very contrary to that of Mr. Wallace,
which is a thing I should have dispensed with, did not the merit of his
performance in the eyes of the learned world appear sufficient to draw
my attention.
Agriculture is without all doubt the foundation of multiplication, which
must ever be in proportion to it; that is, to the earth’s productions,
as has been said. But it does not follow, that in proportion to
multiplication those produced must of course become useful to one
another, and useful to the society in general. Now I consider
multiplication as no otherwise useful to a state, than in so far as the
additional number becomes so, to those who are already existing, whom I
consider as the body-politic of the society. If it therefore happens,
that an additional number produced do no more than feed themselves, then
I perceive no advantage gained to the society by their production. If,
without rendering any equivalent service, they are fed by others, there
is a loss.
Public-domain text, read in full here on John Shaqi.
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