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
Agriculture may be said to be carried to its utmost extent, when the
earth is so laboured as to produce the greatest quantity of fruits
possible for the use of man; and in judging of the improvement of two
spots of ground of the same extent, that may be said to be most improved
which produces the greatest quantity of food: but as to population, the
question does not stop there; for let the quantity be equal on both, yet
if the inhabitants of the one be more frugal livers than those of the
other, this circumstance alone will make an inequality. If agriculture
therefore be considered only with respect to population, we must
consider that country as the best peopled, where productions are the
most abundant, and where the inhabitants are the most sober. Thus much
with regard to the extent of agriculture and population: we come now to
consider the inconveniencies which may result to a society from an
over-stretch, or from what I call an abuse of either the one or the
other.
I call every thing an abuse in society which implies a contradiction to
the spirit of it, or which draws along with it an inconveniency to
certain classes, which is not compensated by the general welfare.
The political oeconomy of government is brought to perfection, when
every class in general, and every individual in particular, is made to
be aiding and assisting to the community, in proportion to the
assistance he receives from it. This conveys my idea of a free and
perfect society, which is, _a general tacit contract, from which
reciprocal and proportional services result universally between all
those who compose it_.
Whenever therefore any one is found, upon whom nobody depends, and who
depends upon every one, as is the case with him who is willing to work
for his bread, but who can find no employment, there is a breach of the
contract, and an abuse. For the same reason, if we can suppose any
person entirely taken up in feeding himself, depending upon no one, and
having nobody depending on him, we lose the idea of society, because
there are no reciprocal obligations between such a person and the other
members of the society.
Those who are for employing the whole of a people in agriculture may
answer, that all their time cannot be employed in this occupation, and
that in the intervals they may apply themselves to supply reciprocal
wants.
I very readily agree, that any person, who would calculate his labour in
agriculture, purely for his own subsistence, would find abundance of
idle hours. But the question is, whether in good oeconomy such a person
would not be better employed in providing _nourishment_ for others, than
in providing for any other want. When he provides food, he surely
provides for a want; and experience shews, that it is better for a man
to apply close to one trade, than to turn himself to several.
Public-domain text, read in full here on John Shaqi.
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