Principles of Political EconomyPerry, Arthur Latham
General
Principles of Political Economy
Perry, Arthur Latham
Economics
The only motive to a mutual exchange of services, whether in one or in
all of their three kinds, that is to say, to a free production of
commodities and services and credits, is always and everywhere the
mutual benefit of the two parties exchanging. After all the processes
have been gone through with and the exchanges are consummated, all the
parties are richer than before, that is, they have more
_satisfactions_, otherwise the processes and exchanges would instantly
cease. Therefore, a universally free production benefits everybody,
and harms nobody. Moreover, under a system of free production, every
man is allowed under the stimulus of self-interest to work away at
those obstacles to the gratification of human desires which he feels
himself best able to overcome, to follow the bent of his own mind, and
to avail himself of all those free helps in his peculiar work which
Nature offers to him. Under these circumstances, obstacles give way
in all directions; the amount of material products produced is vastly
augmented, the number and variety and excellence of personal services
proffered are indefinitely increased, and credits compelling the
Future to pay tribute to production are multiplied; the diversified
and rapidly increasing desires of all persons in such a community are
readily met through profitable exchanges; while all peculiar
facilities natural and acquired are taken immediate advantage of, the
diversities of relative advantage in production become marked in all
directions, and a new day of industrial and commercial prosperity is
ushered in. Because under freedom all men are sure to dispose of their
industrial efforts to the best advantage, they have the strongest
possible motives to put them forth; since they can purchase with them
what they will and when they will, and where they will. Thus freedom
leads to extended association, and also to the invention of machinery
and all labor-saving appliances.
3. We are now in position to understand thoroughly the ultimate
GROUNDS of the production of material commodities. We have seen, that
these commodities have been multiplying in number and variety and
excellence ever since the beginnings of history, that they are
everywhere multiplying now at a rate hitherto unprecedented and
undreamed of, and that improved and improving methods of
transportation by land and sea are now carrying these back and forth
to the ends of the earth. What is the _principle_, under which these
things have been done, are now being done, and are certain to be done
in the time to come?
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