Principles of Political Economy, Vol. 1Roscher, Wilhelm
History
Principles of Political Economy, Vol. 1
Roscher, Wilhelm
Economics
The evil produced by egotism, that sad travesty of personal interest,
appears under a form quite as formidable when the general interest takes
the form of communism. The coöperation of personal interest and of the
general interest is always necessary, both for individual profit and
social advantage. There is as much danger in annihilating the individual
as in exalting him. History furnishes us with memorable examples of this.
It does not allow us to go astray in the narrow ways of a peevish and
jealous personality, nor to lose ourselves in the vague labyrinth of a
chimerical and false communism. The latter would destroy what constitutes
the power and dignity of man. It would wipe out the most prominent
features of his noble nature, by destroying the support of energy and
activity and the food of moral force.
XII.
But, we are told, Political Economy is only the science of selfishness;
Adam Smith is the prophet of individualism; grow rich _per fas et nefas_
is its ultimate teaching. Such a judgment is evidence of much levity and
little enlightenment. How could the man who conceived the study of human
interests on so large a scale, the philosopher who acknowledged Hutcheson
as his master and gave his ideas a still more expansive character, be the
apostle of egotism; and how can the science which he founded be its
gospel? There is here an error of fact and a defect of appreciation.
Hutcheson had based moral philosophy on the feeling which, according to
him, engendered all the other virtues, on benevolence, which is
disinterested, busied with the welfare of others, with the public weal and
the general interest. Adam Smith went further, and sought to base it on a
still more energetic feeling, on sympathy.
The first sentence of his Theory of the Moral Sentiments, which is a full
resumé of his theory, is as follows: “How selfish soever man may be
supposed, there are evidently some principles in his nature which interest
him in the fortune of others, and render their happiness necessary to him,
though he derives nothing from it, except the pleasure of seeing it.” And
this is no empty declaration on his part. It is the thought which of all
in his book is nearest to his heart; and hence he energetically assails
those philosophers who look upon self-love and the refinements of
self-love as the universal cause of all our sentiments, and seek to
explain sympathy by self-love.
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