Rural Wealth and Welfare: Economic Principles Illustrated and Applied in Farm LifeFairchild, Geo. T. (George Thompson)
Science
Rural Wealth and Welfare: Economic Principles Illustrated and Applied in Farm Life
Fairchild, Geo. T. (George Thompson)
Agriculture -- Economic aspects; Economics
This prophecy of a noted economist is warranted: “Probably the greatest
economic revolution which the youth of today may in his old age behold,
will be found in this all-important branch of our industries.” When we
know how nature works, we can adjust our little motions in time and place
to promote that work; we shall have the art of moving things to suit our
needs. Nothing can be truer than Tennyson’s line, “We rule by obeying
nature’s powers.”
Chapter II. Forces In Production Of Wealth.
_Nature._—When men learn to meet their wants by exertion in accord with
nature’s ways, they are said to use the forces of nature in production of
wealth. Every accumulation of materials for satisfying future needs
implies some control over natural objects. If advantage is taken of
natural motions or other activities to bring about larger accumulation,
the man whose plans secure this has gained control over, and so
property-rights in, the natural force which he has harnessed. The wind
caught by a sail and the water controlled by a dam contribute to the
power, and indirectly to the wealth, of the man who contrives to make them
move things for him. The directive actions of men necessarily appropriate
the natural objects which they use, together with all the qualities of
those objects.
_Energy._—Human exertion produces wealth, as we have seen, whenever it
anticipates and provides for future wants by securing at hand the things
to be used. So far as this anticipation includes control of forces or
qualities in nature, these natural agencies contribute to wealth of
individuals or communities. So voluntary human exertion is combined with
involuntary forces of outside nature to give wealth. No amount of gold in
Alaska is wealth until some human ability has appropriated it to human
uses; but the mere fact of locating a claim for mining purposes gives the
prospector advantage over any other man because of his foresight. So every
activity of nature may become a factor in wealth by human ingenuity in
making it useful.
Public-domain text, read in full here on John Shaqi.
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