Principles of Political Economy, Vol. 1Roscher, Wilhelm
History
Principles of Political Economy, Vol. 1
Roscher, Wilhelm
Economics
It would seem, moreover, that political economists, especially in Germany,
have attached too much importance to putting formal bounds to their
special science. Why not rather follow the example of the students of
nature who care little whether this or that discovery belongs to physics
or chemistry, to astronomy or mathematics, provided, only, very many and
important discoveries are made?(152)
Section XXI.
What Political Economy Treats Of.
Political Economy treats chiefly of the material interests of nations. It
inquires how the various wants of the people of a country, especially
those of food, clothing, fuel, shelter, of the sexual instinct etc., may
be satisfied; how the satisfaction of these wants influences the aggregate
national life, and how in turn, they are influenced by the national life.
(Gospel of Matth., 4, 4.) This alone suffices to enable us to estimate the
importance of the science. The relation of virtue to wealth is likened by
Bacon to that of an army to its baggage. In Xenophon’s opinion, wealth is
really useful only to him who knows how to make a good use of it. From an
economic point of view, the happiest man is he who has accumulated most,
honorably, and used it best.(153) That, even in a material sense, the
intellect of a people is their most important element, is evident from the
example of the Chinese, who were so long acquainted with printing, powder,
and the mariner’s compass, without, by their means, attaining to
intelligent public opinion, forming a good army, or coming to an
understanding of the art of navigation, to any great extent.
The undervaluing of economic matters, for which ages of inferior
cultivation, our own middle ages for instance, are now praised and now
blamed, was really a rare exception even during these ages.(154) Other
kinds of acquisition and enjoyment then occupied the foreground; but there
never was a time, when gain and enjoyment in general were not favorite
objects of pursuit, and held in high esteem. The physical wants of
uncultured men cry out much louder than intellectual ones. (§ 2, 14.)(155)
On the other hand, in over-cultivated ages, when decay begins, an
over-estimation of material things is wont to become general.(156) The
mere servants of mammon, whether as political economists or as private
individuals, may see their depravity faithfully reflected in communism as
in a mirror. We should not overlook the fact that it is with whole nations
as with the individual man who amasses his own fortune. He reaches the
culminating point of his wealth generally after he has passed the prime of
life. The most flourishing period of a nation’s existence is wont just to
precede its decay, and to introduce it.(157) Hence, here nothing could be
more untrue, as Macchiavelli has remarked, than the general opinion that
money is the sinew of war.(158)
Chapter III.
The Methods Of Political Economy.
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