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
His definition of wealth, as explained by what he subsequently says of
productive labour, now includes all the gratifications derived from
menial service and followers, whatever may be their number.
Now let us suppose two fertile countries with the same population and
produce, in one of which it was the pride and pleasure of the landlords
to employ their rents chiefly in maintaining menial servants and
followers, and in the other, chiefly in the purchase of manufactures and
the products of foreign commerce. It is evident that the different
results would be nearly what I described in speaking of the consequences
of the definition of the Economists. In the country, where the tastes
and habits of the landlords led them to prefer material conveniencies
and luxuries, there would, in the first place, be in all probability a
much better division of landed property; secondly, supposing the same
agricultural capital, there would be a very much greater quantity of
manufacturing and mercantile capital; and thirdly, the structure of
society would be totally different. In the one country, there would be a
large body of persons living upon the profits of capital; in the other,
comparatively a very small one: in the one, there would be a large
middle class of society; in the other, the society would be divided
almost entirely between a few great landlords and their menials and
dependents: in the one country, good houses, good furniture, good
clothes, and good carriages, would be in comparative abundance; while in
the other, these conveniencies would be confined to a very few.
Now, I would ask, whether it would not be the grossest violation of all
common language, and all common feelings and apprehensions, to say that
the two countries were equally rich?
Mr. Macculloch, however, has discovered that there is a resemblance
between the end accomplished by the menial servant or dependent, and by
the manufacturer or agriculturist. He says, “The end of all human
exertion is the same; that is, to increase the sum of necessaries,
comforts, and enjoyments; and it must be left to the judgment of every
one to determine what proportion of these comforts he will have in the
shape of menial services, and what in the shape of material
products.”[30]
Public-domain text, read in full here on John Shaqi.
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