Definitions in Political Economy,: Preceded by an Inquiry Into the Rules which Ought to Guide Political Economists in the Definition and Use of Their Terms; with Remarks on the Deviation from These Rules in Their WritingsMalthus, T. R. (Thomas Robert)
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Definitions in Political Economy,: Preceded by an Inquiry Into the Rules which Ought to Guide Political Economists in the Definition and Use of Their Terms; with Remarks on the Deviation from These Rules in Their Writings
Malthus, T. R. (Thomas Robert)
Classical school of economics; Economics
On the Production of Wealth, c. vi. s. vi. p. 349.
Footnote 22:
On the Production of Wealth, c. vi. s. vi. p. 349.
Footnote 23:
On the Production of Wealth, c. vi. s. vi. p. 345.
Footnote 24:
Id. p. 348.
Footnote 25:
It is quite astonishing that political economists of reputation should
be inclined to resort to any kind of illustration, however clumsy and
inapplicable, rather than refer to money. I suppose they are afraid of
the imputation of thinking that wealth consists in money. But though
it is certainly true that wealth does not consist in money, it is
equally true that money is a most powerful agent in the distribution
of wealth; and those who, in a country where all exchanges are
practically effected by money, continue the attempt to explain the
principles of demand and supply, and the variations of wages and
profits, by referring chiefly to hats, shoes, corn, suits of clothing,
&c., must of necessity fail.
Footnote 26:
Elem. of Polit. Econ. c. iv. s. iii. p. 234.
Footnote 27:
Elements of Polit. Econ. c. ii. sec. ii. p. 41.
Footnote 28:
Principles of Political Economy, part i. p. 5.
Footnote 29:
These remarks were principally directed against Lord Lauderdale’s
definition of wealth—_all that man desires as useful and delightful to
him_; but they apply with nearly equal force to Mr. Macculloch’s
present definition, which is limited to those objects which possess
exchangeable value. According to Mr. Macculloch’s own statement,
health is purchased from the physician, and the gratification derived
from acting from the actor; and it must be allowed that it is
impossible to enjoy the benefits of civil and religious liberty
without paying those who administer a good government. It has been
said by Mr. Hallam, with some truth, that the liberties of England
were chiefly obtained by successive purchases from the crown.
Footnote 30:
Principles of Polit. Econ., part iv. p. 406.
Footnote 31:
Principles of Polit. Econ., part iv. p. 410.
Footnote 32:
Principles of Polit. Econ., part ii. p. 71. This language has
absolutely no meaning, if all labour be equally productive in regard
to national wealth.
Footnote 33:
Mr. Macculloch dwells very much upon the extreme importance of
accumulation to the increase of national wealth. But how are the
gratifications afforded by menial servants to be accumulated?
Footnote 34:
Principles of Polit. Econ., part ii. p. 92.
Footnote 35:
Principles of Polit. Econ., part ii. p. 114.
Footnote 36:
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