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
_Moral Losses attending Civilization._--There is little doubt that
vice has made gains which reduce in a disastrous way the otherwise
favorable results of increasing wealth. The "hastening ills" that are
said to attend accumulating wealth and decaying manhood have come in a
disquieting degree and forced us to qualify the happy conclusions to
which a study of purely economic tendencies leads. The evil is not
confined to the realm of family relations, but pervades politics,
"high finance," and a large part of the domain of social pleasures.
The richer world is the more sybaritic--self-indulgent and intolerant
of many moral restraints; and if one expects to preserve an
unquestioning trust in the future, he must find a way in which the
economic gains which he hopes for can be made without a casting away
of the moral standards which are indispensable. The greatest possible
achievement in this direction would be an abandonment of vicious
restraints on population and a general increase of the forethought and
the self-command which even now constitute the principal reliance for
holding the birth rate within prudent limits.
_The Working of Malthusianism in Short Periods as Contrasted with an
Opposite Tendency in Long Ones._--There is little doubt that by a long
course of technical improvement, increasing capital, and rising wages,
the laboring class of the more prosperous countries have become
accustomed to a standard of living that is generally well sustained
and in most of these countries tends to rise. There is also little
uncertainty that a retarded growth of population has contributed
somewhat to this result. One of the facts which Malthus observed is
consistent with this general tendency. Even though the trend of the
line which represents the standard of living be steadily upward, the
rise of actual wages may proceed unevenly, by quick forward movements
and pauses or halts, as the general state of business is flourishing
or depressed. In "booming" times wages rise and in hard times they
fall, though the upward movements are greater than the downward ones
and the total result is a gain.
Now, such a quick rise in wages is followed by an increase in the
number of marriages and a quick fall is followed by a reduction of the
number. The birth rate is somewhat higher in the good times than it is
in the bad times. Young men who have a standard of income which they
need to attain before taking on themselves the care of wife and
children find themselves suddenly in the receipt of such an income and
marry accordingly. There is not time for the standard itself
materially to change before this quick increase of marriages takes
place, and the general result of this uneven advance of the general
prosperity may be expressed by the following figure:--
[Illustration]
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