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 — John Shaqi
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)
General
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
Thus, in his very peculiar and most untenable argument on the effects of
absenteeism in Ireland, one of the reasons which he gives, why the
absence of the landlords does not diminish the wealth of that country
is, that they do not remove any _capital_ from it, but merely what they
would spend on their own gratifications. If, however, the definition of
the capital of a country, as stated by Mr. Macculloch, be “_that portion
of the produce of industry existing in it_ which can be made directly
available either to the support of human existence or to the
facilitating of production,” it follows necessarily that they remove a
considerable quantity of capital, as it will hardly be denied that the
corn, cattle, and butter produced from their estates (which, after all
the mystery about bills of exchange is done away, are practically the
main articles exported to England for the payment of their rents) may be
made directly available to the support of human existence.
Mr. Macculloch is also disposed to recommend emigration as one of the
best means of relieving the distress of Ireland, by altering the
proportion between capital and labour; but if, according to him, in all
economical discussions, man is to be considered as capital, precisely
like the machine which he uses or the food which he consumes, the
emigration of a portion of the population will be to deprive the country
of a portion of its capital, which has always been considered as most
pernicious. Whatever, therefore, may be the merits or demerits of Mr.
Macculloch’s reasoning on these subjects, independently of his
definitions, it is obvious that the application of his definitions at
once destroys it.
It need hardly be repeated, that in all the less strict sciences,
definitions and classifications are seldom perfect and complete; but no
reasonable man will refuse to take advantage of an imperfect instrument
which is essentially useful, if no other more perfect one can be
obtained. If it be found useful, with a view to an explanation of the
causes of the wealth of nations, to make a distinction between the
labours of agriculturists and manufactures, as compared with menial
servants, followers, and buffoons, the utility of this distinction is
not destroyed, though its perfect accuracy may be impeached, because, in
a few instances, the labour of the menial servant is very similar to
that of the productive labourer. The classification is formed upon the
general character and general effects of one sort of industry as
compared with another; and if, in these respects, the line of
distinction is sufficiently marked, it is mere useless cavilling to
dwell upon particular instances.[36]
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