Principles of Political EconomyPerry, Arthur Latham
General
Principles of Political Economy
Perry, Arthur Latham
Economics
The physical and moral obstacles, that Nature has interposed to the
gratification of the multitudinous and constantly increasing desires
of men, are so great in all directions, that the powers of the
individual man are utterly unable to surmount any considerable number
of them; while at the same time, the physical and moral powers,
adapted under sufficient motives to overcome these obstacles, are very
diverse in the different individuals of mankind. Not only is there a
surprising diversity in original gifts, but also the powers acquired
by gradual concentration of personal effort upon one set of obstacles
become exceedingly diverse, as does moreover familiarity in the use of
the gratuitous forces of nature which lend their aid towards
overcoming these particular obstacles. As the result of one or two or
all of these, one man naturally comes to have a vast advantage over
others in his particular branch of business, whatever that may be;
each of these others by precisely the same means comes to have a
legitimate advantage over the first in his own branch of effort,
whatever that may be; and if, as always happens practically, the first
has desires which the varied efforts of the others can satisfy, and
they too desires which his efforts can satisfy, nothing more is
necessary to profitable exchanges between them than this diversity of
relative advantage at different points.
It is solely because a given effort irksome in itself put forth for
another person, in view of and for the sake of a return-service from
him, realizes more of satisfaction to both parties than when put forth
for one's self directly, that commercial exchanges ever take place
among men. The sole ground of these, the principle underlying them
everywhere, is DIVERSITY OF ADVANTAGE BETWEEN DIFFERENT MEN AND
BETWEEN DIFFERENT NATIONS IN DIFFERENT RESPECTS. All exchanges
whatsoever depend on diversity of relative advantage in the production
of commodities or services or credits as between the persons
exchanging; and this diversity of relative advantage exists by God's
appointment primarily among individual men as such, and only
secondarily on the ground of the varied soil and climate and position
and natural gifts of different parts of the earth. Reserving these
secondary considerations, which are quite secondary in importance
also, to a later detailed discussion, it is very clear and of central
consequence in our science that a diversity of relative advantage in
different things displays itself as between the individuals of every
community and country large and small. There is no hamlet in any land
in which one man has not an advantage over his neighbors in the making
of clothes, another in the making and setting of horse-shoes, a third
in the building of houses, a fourth in the curing of diseases, and
another in the keeping a school; while each of those neighbors has
undoubtedly some advantage or other over each of these in some trade
or means of livelihood.
Public-domain text, read in full here on John Shaqi.
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