Principles of Political Economy, Vol. 1Roscher, Wilhelm
History
Principles of Political Economy, Vol. 1
Roscher, Wilhelm
Economics
When _Rossi_, Cours d’Economie politique, 1835,
L. 2, says: _tout chose propre à satisfaire aux besoins de l’homme
est richesse_, he demonstrates how the frequent inaccuracy of the
French language stands in the way of a close analysis. The greater
number of more recent definitions are true of resources rather than
of wealth. _Bastiat_ distinguishes between _richesse effective_ and
_relative_, the former being based on _utilité_, the latter on
_valeur_. (Harmonies, ch. 6.)
99 The national wealth of Athens, at the time of the hundredth
Olympiad, is estimated by _Böckh_ (Staatshaushalt der Athen, I, p.
636, 2d ed.) to have been from thirty to forty thousand talents,
besides the non-taxable property of the state. That of Great Britain
is estimated at about 8,000 million pounds sterling. (Athenæum 5
March, 1853.) _Wolowski_ estimated that of France at, at least, 116
milliards of francs, with an annual increase of 1-½ milliards, (L’or
et l’Argent, 1870. Enquête, 59.) _David A. Wells_ estimated that of
the United States, in 1860, slaves not included, at 14,183 million
dollars, or $451.20 per capita, whereas in England, the per capita
wealth was about $1,000. (_Hildebrand’s_ Jahib., 1870, I, 431.) The
national wealth of the kingdom of Saxony is equal to 600 million
thalers immovable, and 600 million movable, property. (_Engel_,
Statist. Zeitschr. August, 1856). That of Würtemberg=2,710 million
florins, of which 700 millions represent movable goods, and 100
million, claims on foreign countries. (Statistisches Handbuch,
1863.) Of course all these estimates are very inexact.
_ 100 Ch. Dupin_, Forces productives, p. 82. See _infra_, § 230.
101 Compare _Meidinger_, Das britische Reich in Europa, pp. 79, 238,
261.
_ 102 Davenant_ considers an increase in the number of houses, ships and
stocks of goods, as the surest sign of an increase in the national
wealth; and on the other hand, a high rate of interest, a low price
of land, small wages, a decrease of population, and an increase of
uncultivated land, as the signs of national impoverishment. (Works,
I, pp. 354, seq. II, p. 283.) _Sir M. Decker_, Essay on the Causes
of Decline of Foreign Trade (1744), 3, gives as the signs of
impoverishment, the following: a wretched condition of the poor and
of manufactures, a low price of wool, long credit to retail dealers,
frequent cases of bankruptcy, exportation of the metals, unfavorable
exchange, few new coins, many cases of unpaid rent of leased land,
and high poor rates.
_ 103 Storch_, Handbuch, I, 45. Compare _infra_, § 187.
104 On the difference between human and animal economy, see _Schön_,
Neue Untersuchungen der N. Œkonomie, (1835), 4.
105 Compare _Schäffle_, System, III, Aufl. I, 2, 28.
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