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
estimated in the very great addition which it makes to the capital and
revenue of the country, in the most natural and ordinary acceptation of
these terms. And when the effects of their genius have been estimated in
this way, it would not only lead to inextricable difficulty, but it
would be obviously a double entry, to estimate, in addition, the value
of the men as extraordinary machines. It would be like estimating the
value of a commodity produced by a skilful artificer, and then adding
his high wages, and putting both into an estimate of national wealth.
But it is difficult to say what may not be called wealth, or what labour
may not be called productive, in Mr. Macculloch’s nomenclature.
According to his view of the subject, any sort of exertion, or any sort
of consumption which tends, however _indirectly_, to encourage
production, ought to be denominated productive; and before we venture to
call the most trivial sort of exercise or amusement, such as blowing
bubbles, or building houses of cards unproductive, we must wait to see
whether the person so employed does not work the harder for it
afterwards.[38] But, not to mention the impossibility of any, the most
useful classification, if such doctrines were admitted, and we were
required to wait the result in each particular case, and make exceptions
accordingly, I will venture to affirm, that if we once break down the
distinction between the labour which is so directly productive of wealth
as to be estimated in the value of the object produced, and the labour
or exertion, which is so indirectly a cause of wealth, that its effect
is incapable of definite estimation, we must necessarily introduce the
greatest confusion into the science of political economy, and render the
causes of the wealth of nations inexplicable. There is no kind of
exertion or amusement which may not, upon this principle, be called
productive. Walking, riding, driving, card-playing, billiard-playing,
&c. &c. may all be, indirectly, causes of production; and according to
Mr. Macculloch, “it is very like a truism, to say, that what is a cause
of production must be productive.”[39]
But of all the indirect causes of production, the most powerful, beyond
all question, is consumption.
If man were not to consume, how scanty, comparatively, would be the
produce of the earth. Consumption, therefore, is the main fundamental
cause of production; and if we are to put indirect causation on a
footing with direct causation, as suggested by Mr. Macculloch, we must
rank in the same class, the manufacturer and the billiard player, the
producer and the consumer.
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