Speculations from Political EconomyClarke, Charles Baron
General
Speculations from Political Economy
Clarke, Charles Baron
Economics
To keep the poor comfortable for the present and for many years
immediately in front of us, we require a continual increase in the
wealth laid out in England annually in the purchase of labour. The
growth of the empire, the profitable investment of capital in foreign
countries (whereof the interest is paid and consumed in England), is one
great resource: the profitable investment of capital in England itself
is the other great, probably safer, resource. To effect this we require
every acre of land to fall into the hand of the man (or company) who can
make most of it: we require a Universal Free Trade that shall render
our hold on the commerce of the world secure until all nations adopt
Universal Free Trade (when we shall gain so much in other ways that we
shall be able to afford to share our monopoly with others); we require
the removal of all restraints on railways, tramways, electric lights,
etc., that hamper or prevent the employment of capital in England (in
other words, that send English capital abroad). Finally, underlying the
whole, and as the prime cause that shall induce capitalists to employ
their capital in England rather than to send it abroad, we require the
labour of every working man to be in the highest degree efficient: this
retards the fall of the natural rate of profits to a minimum, and the
attainment of the stationary state. Whatever ideal beauty has been
discovered in the stationary state by J. S. Mill, it is pretty clear
that England is not approaching it. It is as difficult for us to stand
still as it is impossible to go back; and our only (third) course open
(for the present and for many years to come) is to progress.
Public-domain text, read in full here on John Shaqi.
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