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 we have an idea of society. The vine-dresser depends upon the
proprietor for the price of his labour; the proprietor upon the
vine-dresser for his surplus. But did we suppose all the kingdom
parcelled out, and laboured, as the spot which lies round the village,
what would become of the vine-dresser with regard to all his other
wants; there would be no vines to dress, no surplus nourishment any
where found, consequently no employment, not even life, for those who
had no land. From this example we discover the difference between
agriculture exercised _as a trade_ and _as a direct means of
subsisting_, a distinction to be attended to, as it will very frequently
occur in the prosecution of our subject. We have the two species in the
vine-dresser: he labours the vineyard as a trade, and his spot of ground
for subsistence. We may farther conclude, that, as to the last part, he
is only useful to himself; but, as to the first, he is useful to the
society, and becomes a member of it; consequently, were it not for his
trade, the state would lose nothing, though the vine-dresser and his
land were both swallowed up by an earthquake. The food and the consumers
would both disappear together, without the least political harm to any
body: consequently, such a species of agriculture is no benefit to a
state; and consequently, neither is that species of multiplication,
implied by such a distribution of property, any benefit. Thus an
over-extension of agriculture and division of lands becomes an abuse,
and so, consequently, does an over-multiplication.
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