An Introduction to the Industrial and Social History of EnglandCheyney, Edward Potts
History
An Introduction to the Industrial and Social History of England
Cheyney, Edward Potts
Great Britain -- Economic conditions; Great Britain -- Maps; Industries -- Great Britain
In other words, a natural and sufficient economic force was always
tending to act and to produce the best results, except in as far as it
was interfered with by external regulation. If a man wishes to earn
wages, to receive payment, he must observe what work another man wants
done, or what goods another man desires, and offer to do that work or
furnish those goods, so that the other man may be willing to
remunerate him. In this way both obtain what they want, and if all
others are similarly occupied all wants will be satisfied so far as
practicable. But men must be entirely free to act as they think best,
to choose what and when and how they will produce. The best results
will be obtained where the greatest freedom exists, where men may
compete with one another freed from all trammels, at liberty to pay or
ask such wages, to demand or offer such prices, to accept or reject
such goods, as they wish or can agree upon. If everybody else is
equally free the man who offers the best to his neighbor will be
preferred. Effort will thus be stimulated, self-reliance encouraged,
production increased, improvement attained, and economy guaranteed.
Nor should there be any special favor or encouragement given by
government or by any other bodies to any special individuals or
classes of persons or kinds of industry, for in this way capital and
labor will be diverted from the direction which they would naturally
take, and the self-reliance and energy of such favored persons
diminished.
Therefore complete individualism, universal freedom of competition,
was the ideal of the age, as far as there is ever any universal ideal.
There certainly was a general belief among the greater number of the
intelligent and influential classes, that when each person was freely
seeking his own best interest he was doing the best for himself and
for all. Economic society was conceived of as a number of freely
competing units held in equilibrium by the force of competition, much
as the material universe is held together by the attraction of
gravitation. Any hindrance to this freedom of the individual to
compete freely with all others, any artificial support or
encouragement that gives him an advantage over others, is against his
own real interest and that of society.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account