Principles of Political EconomyPerry, Arthur Latham
General
Principles of Political Economy
Perry, Arthur Latham
Economics
(d) Are the definitions and principles already logically educed from
and applied to the great class of Valuables orderly arranged in "_a
body_"? This is the only inquiry that remains, in order to determine
whether Political Economy is already a "Science" in the strictest
sense of that term. It is admitted, that a jumble of even just
definitions and principles do not constitute a science, but only these
when placed in a just order and interdependence. A "body" implies an
organic arrangement of parts. It has been well said of the human body,
that all its parts are reciprocally means and ends; the same may be
said of every living organic body, whether vegetable or animal; and
the same may be said in the way of analogy of every developed and
recognized Science. All the definitions and propositions and
illustrations in any science should be so arranged, as to show the
mutual relations and reciprocal dependence of all the parts, and as to
display the whole in harmony and symmetry.
It is as certain as anything in the future can be in science, that new
principles will be discovered in Economics as Time and Inquiry go on,
and that these will find their place little by little in a fuller and
more rounded "body" than is at present possible; while it is also as
certain as anything in the future of science can be, that the Outline
of economics is already perfectly drawn, that the great class of
Valuables will never be enlarged nor be better described, that the
category of Commodities, Services, Credits, is completed for all time,
and that the analysis of each act of trade into two Desires and two
Efforts and two Estimates and two Renderings and two Satisfactions
will never yield additional elements. Political Economy is already a
body of exact definitions and sound principles educed from and
applied to a single class of facts. This body will indeed be enlarged
by a future and finer scientific construction, the arrangement and
interdependence of its parts will be better exhibited, the form and
filling up of the Science within the outline already determined is
sure to become more compact, more robust, and more beautiful, as the
decades and centuries go by; while, as in the human body throughout
all the changes of its growth and mature life, that future body of
economic science in all its stages towards perfection will be but the
continuation and fuller development of the present "body" of Political
Economy.
FOOTNOTES:
[1] Green's Short History of the English People, p. 591.
[2] See on this general topic, Mommsen's Provinces of the Roman
Empire, _passim._
CHAPTER II.
MATERIAL COMMODITIES.
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