Essentials of Economic Theory: As Applied to Modern Problems of Industry and Public PolicyClark, John Bates
General
Essentials of Economic Theory: As Applied to Modern Problems of Industry and Public Policy
Clark, John Bates
Economics
_Why Economic Progress perpetuates Itself._--The economic motive which
causes progress to perpetuate itself and to bring about more and more
progress is the determined resistence to a fall from a social status.
The family must not lose caste. It must not sacrifice any of the
absolute comforts to which it is accustomed, particularly when so
doing entails a degradation. Such is human nature that the
unwillingness to give up something to which one is accustomed is a far
stronger spur to action than the ambition to get something to which
one is not accustomed; and a social rank once attained is not
surrendered without a struggle. A tenacious maintenance of status is
the motive which figures most prominently in controlling the growth of
population and the increase of capital. The rich maintain the status
of the family by means of invested wealth, the poor do it by
education, and members of the middle class do it by a combination of
the two.
_Status maintained by Education._--In case of wage earners the need of
educating children and the advantages that flow from it overbalance
the need of bequeathing to them property; and yet the need of
bequeathing property of some kind is a powerful motive also. It is
important to enable them to procure the tools of some handicraft, or
to secure themselves against dangers from sickness or accident.
Moreover, it is not altogether technical education which counts in
this way. Culture in itself is a means, not only of direct enjoyment,
but of maintaining a social rank. The well-informed person
accomplishes directly what a well-to-do person accomplishes
indirectly, in that he gets direct pleasures from life which other
people cannot get, and he enjoys consideration of others and has
influence with them as an uninformed person cannot. The need,
therefore, of educating children for the sake of making them good
producers and the need of doing it for the purpose of making them good
consumers and of enabling them to make the most of what they produce
works against too rapid an increase of numbers.
Public-domain text, read in full here on John Shaqi.
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