Principles of Political Economy, Vol. 1Roscher, Wilhelm
History
Principles of Political Economy, Vol. 1
Roscher, Wilhelm
Economics
Moral Sentiments (1768), has been as one-sided in reducing
everything to “sympathy,” as he has been in his Wealth of Nations in
reducing everything to “self-interest;” but not without the
consciousness, that to explain the reality, it is necessary to take
both into consideration (_Buckle_). It would, indeed, be just as
preposterous to base economy on self-interest alone, as to base
marriage merely on the sexual appetite. Recently, _Hermann_,
Staatswirthschaftliche Untersuchungen, 1st ed., part 1st, discovers
in self-interest, and in the feeling for the common good, the two
springs of all economy. He would even base the so-called theoretic
Political Economy, on the study of self-interest, its practice in
that of the common good. _M. Chevalier_, Cours d’Economie politique,
1844, II, 412 ff., understands something very like this by the
contrast between liberty and centralization. The _antagonisme_ and
_association_ of _Bazard_, Exposition de la Doctrine de Saint Simon
(1829), p. 144 ff. Closer investigation will show, however, that
self-interest, which must not be confounded with egotism, and the
common interest, are neither coördinate nor exhaustive opposites.
Compare the beautiful contrast drawn by _Goethe_ (Pocket edition of
1833, vol. 46, 97), between “Pietät” and “Egoisterei.”
_ 112 Paul_, I. Corinth. 12, gives the most beautiful model description
of a social organism. Compare, however, the fable of Menenius
Agrippa in _Livy_, II, 32.
113 Excellent beginnings of a general theory of economies in common in
_Schäffle_, N. Œkonomie, II, Aufl., 62 ff., 331 ff.
114 The French and English, with their strong political bias, use the
expressions respectively _economie politique_ and Political Economy.
In Germany, where the terms the people (_Volk_) and the state
(_Staat_) are much less nearly coextensive, the words
_Volkswirthschaft_ and _Nationalökonomie_ are preferred. But even
_Hufeland_, who first gave currency to the term _Volkswirthschaft_
(Grundlegung, I, 14), called attention to the peculiarity “that the
term economy suggests that there is one who economizes and guides,
an economist in chief, and that such a one is, even according to the
most correct opinion, wanting in the public economy of a people.”
Public-domain text, read in full here on John Shaqi.
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